Many countries worldwide have been faced with a dilemma over the last year: turn to fossil fuels to maintain energy security or rely on renewables to achieve long-term objectives. In the aftermath of the pandemic, a growing number of nations have endured power outages, shrinking inventories, and higher oil and gas prices. Despite investing billions into green technology, such as solar and wind, it has been challenging since output failed to satisfy immense demand. The other issue, particularly in Europe, is an enormous dependence on Russia’s crude and natural gas exports. The eurozone had imported vast amounts of energy from Moscow—40 percent oil and 30 percent natural gas. Because of the brutal winter that gripped the region and led to falling stockpiles, the European Union recently announced it would be gradually reducing its reliance on energy imports from Russia by up to two-thirds by the end of the …
More Countries Consider Returning to Fossil Fuels to Maintain Energy Security
March 14, 2022
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