Oil and Gas in the Capitals ///
The ambitious European Union (EU) energy policy that aims to cut most of the region’s fossil fuel usage and greenhouse gas emissions by 2050 is being challenged by realities. The policy, published in early 2011, focuses on efficiency gains and clean technologies. Economic constraints got less attention. They are now knocking on the door, possibly knocking down much of the green energy policy. Less than two years since its publication, the EU’s green energy policy appears more costly than an-ticipated, less effective, and detrimental to industrial competitiveness. Moreover, it appears that some of the policies initiated are environmentally harmful, as the law of unintended consequences applies to measures that are ill-prepared.
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