Europe Rethinks Energy Policy: High Costs Drive Shift

Germanys recent approval of offshore gas drilling, despite its renewable energy focus, underscores a European trend of reassessing energy strategies due to soaring electricity costs and reliance on coal-powered Chinese equipment. High industrial and household energy rates in the UK and Germany, compared to the US, are driving economic challenges and job losses, leading to a reconsideration of energy transition plans and a potential shift towards continued domestic oil and gas production.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.