God’s joke on governments that try to control the climate with their electricity grid:

Europe talks itself out of building gas plants in order to stop global warming, then after an extra cold winter, they also run out of gas, and now they have to go back to burning coal.

Spooked investors weren’t funding many gas plants now that the glorious renewable era was here and policy makers were all wearing their Hydrogen badges, and waving their carbon capture wands. In the last year all the geniuses of the European Investment Bank, the IEA, the European Commission were saying “gas is over” and it would be a stranded asset.

One month ago, Nina Chestney was predicting a gas supply crunch:

Gas faces existential crisis in climate wary Europe

May 14, 2021, , Reuters

Europe faces the prospect of higher electricity bills and a supply crunch, as utilities struggle to finance new gas-fired power plants unless they meet tougher emissions criteria imposed by banks pressured to stop financing fossil-fuel projects.

…Gas projects worth some 30 billion euros were cancelled, delayed or indefinitely postponed last year as they struggled to find funding.

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