EU Admits that it is totally dependent on China for much vaunted ‘Green Energy ‘ transition
The EU sees a ‘rapid transition’ to so-called renewable energy as the solution to end its dependency on Russian hydrocarbons. Without going into the merits of whether it is indeed possible to run Europe’s industries on alternative energy and without restating the reasons, which I have already outlined in previous articles why Europe’s energy policies with their preference for renewables are at the heart of the energy crisis that is now haunting Europe, it is finally dawning in the dim brains of its elite, that all that this much-vaunted strategy will achieve is to shift its current total dependence on Russia, to a total dependence on China – which happens to be Russia’s staunchest ally.
This has now been admitted by none other than EU foreign policy chief, Josep Borrell, adding the obvious fact that this situation may make Europe ‘vulnerable’. An understatement if there ever was one.
The top diplomat said China “plays a crucial role in many supply chains” and accounts for 90% of the EU’s magnesium needs, 90% of its rare-earth requirements, and 80% of the solar panels used in the bloc.
“Our dependence on China for our green transition strategy is currently higher than our dependence on fossil fuels from Russia,” Borrell admitted.
Read that again, and then read it again.
The EU intends to become climate-neutral by 2050 while cutting net greenhouse emissions by at least 55% by 2030 compared to 1990 levels.
Borrell’s comments echo recent remarks by EU Commission President Ursula von der Leyen, who in October urged the bloc to reduce its reliance on Chinese technologies and raw materials, warning that it may find itself in the same crisis it faces over the dwindling supply of Russian fossil fuels due to sanctions over Ukraine.
However there are just a couple of snags – first and foremost you need the raw materials, secondly, you need copious amounts of energy which Europe doesn’t have to turn the raw materials into goods, and thirdly you need time, a lot of it, to actually bring it online. And during that time, even if one assumed that this is the right way to go – you need to have affordable energy to keep the factories running until you affect the transition.
The reality is that Europe has no such luxuries and its policies (including sanctions on Russia) have made a tenuous energy situation infinitely worse.
The likes of von der Leyen and Borrell, will eventually also figure out – that formulating policy based on ideology instead of pragmatism will always lead to widespread disaster.
It is increasingly likely that the EU will achieve its targets to decarbonize the economy by 2050, indeed by pursuing the demented energy policies and doubling down with the economically suicidal sanctions that it has imposed target will be achieved for all the wrong reasons, much sooner than they think.
At the rate of deindustrialization that we are witnessing, it is increasingly likely that there will not be any European Industry left for the wind turbines and the solar panels to ‘power’.