EU'S REpowerEU €300 BILLION FUND
It remains to be seen if the simple act of pouring more money into the development cauldron will provide a solution, or if there will need to be statutory enforcements to bring about change. Something needs to be done to get the energy industry off their big fat comfy chairs.
The corporate and investor Red Flags to change may be holding up the transition to renewable energy for heating, transport and industry. For some reason politicians appear not to have connected the dots between energy for homes and transport. Linking those services with under performing utilities. We confidently predict that none of that fund will reach us to develop the SmartNet system, due to policy deficiency.
How long it may take for them and their policy makers to twig, may depend on another conflict of a different kind. A voting revolution perhaps, as the cost of living soars, against the failure of our leaders to adapt to changing world conditions.
The President of the European Commission, Ursula von der Leyen looks to be more in touch with reality, but is lumbered with a bureaucracy in love with slow motion, as a job creation, or preservation scheme. Where results don't really matter, and in fact may call a close of a career as an EU civil servant. They don't want solutions. They want to make it appear they are searching for solutions, as they bumble along trying to look both worried, intelligent and busy. Mostly, working from home, but without any mechanism to check where they are or what they are doing - as they claim their salaries - for being non-productive. The same is happening in health services, with absent doctors, and local authorities, quick to jump on the Covid bandwagon.
“When Europe acts together, it has more clout.” So said European Commission president Ursula von der Leyen in a press briefing today about the urgent need to end Europe’s dependence on Russian gas while simultaneously ensuring energy security.
2. Supply-side: Diversifying away from Russia to other reliable suppliers. A platform has been established for the joint purchase of gas, LNG, and hydrogen. Also, a mechanism for joint procurement and joint outreach to supplying countries will help secure the needed energy imports without the competition between member states.
Accelerating investment in renewables: Increasing the 2030 target from 40% to 45%
— Ursula von der Leyen (@vonderleyen) May 18, 2022
#RePowerEU speeds up our clean energy transition, creating jobs in here and ending the fossil fuel imports that fund Putin’s war: https://t.co/cFivQZSum4
All of this underscores the need for a Circular Economy. For example, in a truly circular economy, there would be no oligarchs or multi-billionaires - as money would be tracked - if being spent on property or goods without being tax paid somewhere in the world. It's not rocket science, Amazon tracks customer preferences using algorithms suitable for tracking money laundering, linked to land registries.
Excessive wealth encourages irresponsible spending, with nothing going back into the community. Billionaires such as Bill Gates and Warren Buffet, should be applauded for making a success of their endeavours, when compared to drug dealers and those profiteering from defense contracts via procurement fraud. There are of course other immoral earnings, but in the UK, as an example of the money laundering capital of the world, houses are being built for overseas investors, where there is a desperate need for local affordable houses. But the UK Parliament will not close those loopholes, because of party political donations and control of local authorities by the same Party taking those contributions.
Thus there is a house building boom in the UK going on while energy and other important security issues are taking a back seat. And those houses are not sustainable in design. No solar panels, solar water heating and no EV charging points.
Once billionaire status has been achieved, there should be additional checks and balances to ensure responsible investing and excessive profiteering.