07/07/2022 / By Ethan Huff
The European Union (EU) has voted to dub gas and nuclear power plant investments as “green” and “eco-friendly,” delivering a death blow to the anti-fossil fuel agenda that has long sought to decimate the West.
On Wednesday, the EU threw out attempts to block a law that will address gas and nuclear power to the EU’s “taxonomy” rulebook from 2023. That law, which is almost certain to pass, will allow investors to label and market investments in these sectors as green. (Related: The war in Ukraine is shaking up Europe and causing its leaders to realize that going green means the economy goes kaput.)
“The vote paves the way for the European Union proposal to pass into law, unless 20 of the bloc’s 27 member states decide to oppose the move, which is seen as very unlikely,” reported Reuters about the EU vote.
“Out of 639 lawmakers present, 328 opposed a motion that sought to block the EU gas and nuclear proposals.”
The European Commission reportedly welcomed the result, having proposed these rules back in February after more than a year of delay and “intense lobbying from governments and industries,” reports explain.
“The Complementary Delegated Act is a pragmatic proposal to ensure that private investments in gas and nuclear, needed for our energy transition, meet strict criteria,” announced EU financial services chief Mairead McGuinness.
Since gas produces far fewer emissions than coal, which Reuters describes as “planet-warming,” some EU states are willing to concede that it is better to produce and use it than to simply go dark this winter once Russian imports run dry.
Not every EU state is in agreement, of course, and climate fanatics are freaking out because they see all fossil fuels as the worst thing ever for the planet, and would prefer only loud, unsightly windmills everywhere and giant solar panel farms destroying the natural landscape.
Nuclear energy, meanwhile, produces no emissions but the flip side is that it outputs lots of radioactive waste, which is about as bad as it gets for the environment once it breaches containment.
It is mostly the Western European members of the EU that are still stuck in delusional wind and solar thinking, while Slovakia, for instance, is excited about fossil fuels going back into the green category where they belong.
“We’ll remain on the way to climate neutrality by 2050,” said Slovakian prime minister Eduard Heger in support of the move.
On the flip side, Luxembourg and Austria are fuming about the decision, promising to challenge it in court.
“It is neither credible, ambitious nor knowledge-based, endangers our future and is more than irresponsible,” whined Austrian climate minister Leonore Gewessler.
Greenpeace, an environmentalist extremist group, is also critical of the inclusion of oil and gas into the green category and has promised to mount a legal challenge against it.
“This is a poor signal to the rest of the world that may undermine the EU’s leadership position on climate action,” further complained Anders Schelde, chief investment officer at Danish pension fund AkademikerPension.
Industry leaders such as Ingbert Liebing, managing director at Germany’s local utility association VKU, praised the EU vote, calling it “an important sign of the role of natural gas as a bridge to achieving climate goals.”
There are still standards attached to the oil and gas industry, just to be clear. Gas plants, for instance, must switch to low-carbon gases by 2035 as well as meet certain emissions limits. But no longer, assuming the law gets passed, will gas and oil be considered “dirty” and completely off-limits in Europe.
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