19FortyFive columnist Spencer: U.S. risks repeating Europe’s fate because of Biden’s mistake
The U.S. risks repeating Europe’s fate because of President Joe Biden’s unwillingness to change energy policy, 19FortyFive columnist Jack Spencer wrote.
“Rapidly rising energy prices. Fuel allocation rationing. Deindustrialization. That’s what’s happening in Europe right now. And if President Joe Biden doesn’t change his energy policy, we will soon face the same problems,” the journalist noted.
The author of the publication added that the U.S. and European policies limiting the development of oil, gas and coal provoke the growth of energy prices and lead to full-scale crises.
In his view, European politicians have ignored citizens’ demand for affordable fuel, opting instead for “green energy.
“Europe’s energy problems are not related to access to affordable, reliable and clean energy, but to the pushing of unrealistic policy options in this area. European families and businesses are paying a high price for these wrong decisions. President Biden is leading America down the same, misguided path. If he doesn’t change course, we will find ourselves in the same unfortunate predicament,” he summarized.
Western countries faced rising energy prices and inflation surges due to sanctions against Moscow and the policy of refusal from Russian fuel. Against the backdrop of rising fuel prices, primarily gas prices, industry in Europe has largely lost its competitive advantage, which has affected other areas of the economy. Also, the U.S. and European states faced the highest inflation in decades.