Commentary
Since Russia attacked Ukraine two months ago, Western governments have been learning the hard way about the critical importance of energy to their national security. Germany’s 20-year, trillion-dollar ”Energiewende” (Energy Transformation) has made its economy totally dependent on supplies of Russian natural gas and paralyzed its response to Russian aggression. French president Emmanuel Macron faces a tougher re-election fight this month thanks to soaring energy prices and failure to replace the nation’s aging fleet of nuclear power stations. The Biden administration is tapping America’s Strategic Petroleum Reserve in an effort to tamp down energy costs as inflation heads toward double digits.
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