> Biden, meanwhile, tweeted: “I am sick and tired of trickle-down economics. It has never worked. We’re building an economy from the bottom up and middle out.”
And the Petrodollar, which allows us to mostly do whatever we want. Just a side note.
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The US have become a net energy exporter and the largest exporter of natural gas.
This strategy is paying off, especially when you compare with the situation in Europe, which has chosen the opposite strategy (shale gas exploitation is banned).
> This strategy is paying off, especially when you compare with the situation in Europe, which has chosen the opposite strategy (shale gas exploitation is banned).
At least our water taps aren't on fucking fire [1]. Fracking is dangerous and unlike the US, Europe doesn't have wide swaths of unsettled land where no one cares about if natural resource exploitation is destroying nature. Texas fits the area of most of Germany, a third of France, the whole of Belgium and the Netherlands - and only has 28 million people!
The problem was rather that no one here thought to build out diversified, renewable energy - the French bet their house on nuclear and now that half the plants are offline for maintenance or failure, the absurd energy prices are to a large part covered with tax money and public debt (and the lack of capacity by German gas peaker plants), the Italians went big for hydro (which failed thanks to the record drought), and us Germans, well we based our entire economy on cheap Russian gas the last thirty years.
[1] https://www.propublica.org/article/scientific-study-links-fl...
[2] https://www.reddit.com/r/MapPorn/comments/1ckhho/texaseurope...
Europe has plenty of space for fracking and is not really dangerous.
They somehow decided that it was better to import gas from Russia and to be vulnerable rather than to produce it locally and reap the strategic and economic benefits because "but the environment"... Really a myopic approach to strategic issues: If Europe depends on gas, and it does, then supply must be secure and domestic if possible. This does not prevent from moving to renewables at the same time.
Thanks for setting the record straight