Germany: green experiment becomes a disaster

For years, Germany closed its fossil fuel-fired and nuclear power
plants in favor of pursuing a "green energy" policy, replacing those
plants with wind and solar power - as well as hefty purchases
of natural gas and oil from Russia.
After Vladimir Putin invaded Ukraine and the U.S. mandated that
the West impose strict sanctions on Russia, including a ban on
importation of Russian gas and oil, Germany found itself in a huge
dilemma: Without Moscow's energy, the 'green infrastructure' that
existed in the country was found lacking and unable to power the
country's robust industry, let alone homes and businesses.
So now, "Germany is bleeding cash to keep the lights on," according
to a Reuters report (https://reut.rs/3BSXrJ0), having burned through
"almost half a trillion dollars, and counting, since the Ukraine war
jolted it into an energy crisis nine months ago."
The report continued:
That's the cumulative scale of the bailouts and schemes the Berlin
government has launched to prop up the country's energy system
since prices rocketed and it lost access to gas from main supplier
Russia, according to Reuters calculations.
And it may not be enough.
"How severe this crisis will be and how long it will last greatly
depends on how the energy crisis will develop," Michael Groemling
at the German Economic Institute (IW) told the outlet, adding:
"The national economy as a whole is facing a huge loss of wealth."
Reuters reported that so far, Germany has set aside around $465
billion, or 440 billion euros, according to available figures, which
is likely just the first installment of funds to keep the country
from running out of power and to help secure additional forms
of energy, especially now that winter is here.
The preeminent economic power in all of Europe, the German
people - thanks to their leaders - are now going to be at the mercy
of the weather.
"The German economy is now in a very critical phase because the
future of energy supply is more uncertain than ever," Stefan Kooths,
vice president and research director of business cycles and growth
at the Kiel Institute for the World Economy, told the newswire
service. "Where does the German economy stand? If we look
at price inflation, it has a high fever."
Many have blamed Germany's current situation almost solely
on the loss of fossil fuel energy from Russia, but that
is disingenuous at best and an outright lie at worst.