Energy prices have exploded as a result of the Trump Administration's war on Iran. It's another opportunity for Europe to shield itself against the kind of fossil fuel shock that hit four years ago when Russia curtailed gas supplies to Europe.
There are some positive signs. Frank Elderson, a key figure at the European Central Bank, is calling fossil fuels a severe threat to the stability of the financial system. The defeat of Viktor Orbán in Hungary removes a vehemently pro-fossil voice from the European Council. And then there's the upcoming Conference on Transitioning Away from Fossil Fuels co-organized by The Netherlands and Colombia.
But there's also a strong risk this moment will be wasted. Governments are shoveling tax breaks at drivers and diminishing the incentive to change behavior, and there's stiff resistance to an EU-level windfall tax on excess fossil fuel profits.
Meanwhile Germany is mulling keeping coal connected longer than planned, and Italy has sought to suspend the Emissions Trading System that underpins the entirety of EU climate policy. In this episode: a conversation with Bas Eickout, a prominent Dutch lawmaker.
Bas is co-leader of the Greens group at the European Parliament and, as a member of the chamber's governing body, among its dozen most influential figures. Bas describes how he's pushing European Commission President Ursula von der Leyen on electrification targets so as to ensure the current crisis doesn't go to waste. He also discusses the European politicians who share ownership for the crisis by impeding the transition from fossil dependency.
Among the candidates: Kadri Simson, Jörgen Warborn, Manfred Weber, Fernand Kartheiser, and Mark Rutte. But there's also the question of how the Greens themselves should play this moment. For years Greens have been a punching bag for the far-right's culture wars. And although polls consistently show voters favor climate-friendly policies, that's not translated into widespread victories at the ballot box.
To improve their electoral performance, Bas's own Green-Left party is forming a new party, Progressive Netherlands, with the Dutch social democrats. But Bas says similar tie-ups are unlikely, at least for now, in other EU countries.
