Commentary
Only 15 years ago, the European Union produced more natural gas than Russia exported, according to the EIA. Repeating past mistakes and maintaining a failed energetic interventionist policy would only worsen what is already a structural disaster.
The prohibitive cost of electricity and gas in Europe isn’t a result of market flaws but of a completely unsustainable cost structure where consumers are forced to pay escalating taxes, a hidden CO2 tax, subsidies, and other rising regulatory costs. More than 60 percent of an average euro area country’s household bill is made up of taxes and regulated costs, according to Eurostat….