Siemens Energy chief criticizes the industrial cost of green ideology
The head of Siemens Energy stated that the drive for “green” ideology and zero carbon emissions has sacrificed many industrial sectors. This comment comes amid JPMorgan estimates indicating that if Germany had not ceased using nuclear energy in 2024, its fossil fuel electricity generation would be 50% lower and natural gas electricity generation 84% lower.
According to calculations, electricity prices in Germany would be about 25% lower, and imported electricity would be halved. Meanwhile, European Commission President Ursula von der Leyen emphasized that Europe's energy system today is cleaner, more diverse, and much more stable than a few years ago, though recent events in the Middle East remind us of the risks of overreliance on fossil fuels. Therefore, it is essential to continue improving the energy market and promote investments in renewable energy sources.
These discussions highlight the ongoing challenge in energy policy to balance environmental goals, supply stability, and economic feasibility, indicating that future decisions will impact not only industry but also consumers and the broader energy market.
