HomeInvestmentThe EU Gets Real About Energy Security

The EU Gets Real About Energy Security

On July 6, the European Parliament, one of the most liberal legislatures on the planet, voted to classify certain nuclear and natural-gas projects as environmentally sustainable. The move brings these projects into compliance with earlier European Union legislation that withheld government support for projects designated unsustainable. That legislation contributed to disproportionate investments in unreliable renewable-energy infrastructure in the EU. When those failed, Russian natural gas supplied through Russian infrastructure served as a backup.

Though the European Parliament’s announcement paid lip service to the EU’s Paris Accords obligations and its determination to get to net-zero carbon emissions, it represents a seismic shift in Europe’s energy posture, which now seems to recognize that progress toward a cleaner environment will be a pyrrhic victory if it comes at the price of the Continent’s security and prosperity.

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