Gov’t Is Incapable of Managing Anything – The Electric Crisis in Europe

www.armstrongeconomics.com

Part of the global warming/climate change deals, many people do not realize that in Europe there will be no more gasoline and diesel cars on the streets come 2020. From Norway to India the year 2020 will mark the end of petrol or diesel vehicles. This is part of the long-term bear market in energy. Germany wants to bring at least million electric vehicles on the roads. However, this energy policy presents a crisis. They never realized that to prevent cars from using oil based energy, they have to get ready for a 25%-30% increase in power consumption. Shutting down nuclear power plants means you are transferring one pollution source for another.

Meanwhile, Germany was to shut down all nuclear power by 2022. Nobody seems to have figured out the coordination of these two trends.