It Was As Predictable As the Sun Rising

If you're like me (you should worry) and the sheer idiocy of US energy policy gets you down, here's what little cheer I can offer: at least we're not as dumb as Europe! To begin with, the power industry across Europe is essentially a state affair, so structurally there is no dynamism at all in the market. Then there are the oddball, dumb decisions. Take Germany for example. The Germans are supposed to be big greenies, but went ahead and started shutting down their nuclear plants in hopes that wind power would make up the difference. Good luck with that. Meanwhile they are more reliant now on Russian oil and gas, which isn't as clean or cheap as nukes and as an added bonus, Putin & Co. have their hands on the switch. (Gerhard Schroeder made out good though, he's on the Russian payroll.) Then overlay a tight regulatory regime aimed at reducing the speculative effects of the speculative phenomenon of global warming. The result, energy prices are on an aggressive march upward. In the US, we have today exactly the energy prices that we deserve based on our collective choices. In Europe it is the same, only more so. All together now in your best Dr. Phil voice, "We have ha enurgee pry sez, beecauz we wont ha enurgee pry sez."