Europe Finds Out the Hard Way That Its Green Energy ‘Obsession’ Had Disastrous Consequences

European countries’ rapid push to switch over to green energy from carbon-based sources is wreaking havoc on their economies.

“Europe has succeeded in slashing carbon emissions more than any other region — by 30% from 2005 levels, compared with a 17% drop for the U.S. But along the way, the rush to renewables has helped drive up electricity prices in much of the continent,” The Wall Street Journal reported.

“Germany now has the highestmo domestic electricity prices in the developed world, while the U.K. has the highest industrial electricity rates, according to a basket of 28 major economies analyzed by the International Energy Agency. Italy isn’t far behind. Average electricity prices for heavy industries in the European Union remain roughly twice those in the U.S.

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