Attempts by Western governments to transition away from hydrocarbons is creating instability, according to a new policy paper from the Macdonald-Laurier Institute (MLI) evaluating efforts by North America and Europe to curtail fossil fuel use through decarbonization. “It has become apparent that energy transition policies in Canada and the US are ultimately working to undermine economic, energy, and national security in North America,” write authors Jack Mintz and Ron Wallace in “The Global Energy Transition Confronts East vs. West Realpolitik: Why Energy Security Matters.” Some of the consequences of the Wests divestment in hydrocarbons cited by the report are market instabilities, power interruptions, and continued rising costs. Meanwhile, foreign producers are benefiting, particularly in the case of Russia and the war it’s waging against Ukraine.
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