Ep.127: One Energy Shock After Another

About this episode

Energy prices have exploded as a result of the Trump Administration's war on Iran. It's another opportunity for Europe to shield itself against the kind of fossil fuel shock that hit four years ago when Russia curtailed gas supplies to Europe. There are some positive signs. Frank Elderson, a key figure at the European Central Bank, is calling fossil fuels a severe threat to the stability of the financial system. The defeat of Viktor Orbán in Hungary removes a vehemently pro-fossil voice from the European Council. And then there's the upcoming Conference on Transitioning Away from Fossil Fuels co-organized by The Netherlands and Colombia. But there's also a strong risk this moment will be wasted. Governments are shoveling tax breaks at drivers and diminishing the incentive to change behavior, and there's stiff resistance to an EU-level windfall tax on excess fossil fuel profits. Meanwhile Germany is mulling keeping coal connected longer than planned, and Italy has sought to suspend the Emissions Trading System that underpins the entirety of EU climate policy. In this episode: a conversation with Bas Eickout, a prominent Dutch lawmaker. Bas is co-leader of the Greens group at the Eur