From the team at CFACT ~
By Reagan Reese:
After pouring billions of dollars into green energy, Germany is facing economic calamity, including potential collapse should Russia shut off gas supplies.
On July 5, Germany announced their plan to rewrite 1970s legislation to send taxpayer funds to energy suppliers in an attempt to prepare for a possible recession, the Wall Street Journal reported. The collapse comes after Germany unveiled their plan to spend $220 billion to transfer all their energy needs to renewable sources, Reuters reported.
The funds for Germany’s energy plan were meant to expand the use of renewable energy and make the country less reliant on Russia, Reuters reported. Last week, a large German utility company asked for state support as it prepares for a bailout due to a lack of Russian supplies, according to the WSJ.
Russia’s natural gas cuts are occurring as households are…
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