Index Investing News
Sunday, April 5, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Europe in Its Labyrinth — Global Issues

by Index Investing News
October 24, 2022
in World
Reading Time: 6 mins read
A A
0
Home World
Share on FacebookShare on Twitter


European Union leaders struggle to find solutions for the energy crisis. Credit: Bigstock
  • by Baher Kamal (madrid)
  • Monday, October 24, 2022
  • Inter Press Service

MADRID, Oct 24 (IPS) – European politicians continue to run in all directions to find a way out of their energy crisis. One of them – Simonetta Sommaruga, the Swiss Environment Minister, asked people to ‘shower together’. Others are competing to grant the business of transporting energy from the North of Africa to the continent. All this is not new.

The MidCat

In 2010, a project aimed at transporting 7.500 million cubic metres of gas by linking Catalonia (Spain) to Occitania (France) and from there to other European Union countries.

With an initial estimated cost at over three billion Euro, this MidCat project quasi-blocked just one year later, to be finally stopped in 2018 following cost and impact studies.

Following the energy impact of the condemnable proxy war in Ukraine, Spain has recently proposed relaunching the MIDCAT. But France continued to block the project alleging high costs. Maybe also under the heavy pressure of its extended, powerful business of nuclear plants?

The Italian Connexion

Meanwhile, taking advantage of the deteriorated relations between Spain and Algeria due to Madrid’s support to the annexation of Western Sahara by Morocco, Rome rushed to negotiate with Algiers the transportation of the Algerian gas and oil to Europe through Italy.

But this project hasn’t worked out either.

The Turkish Pipe

At that state, Ankara proposed in September 2022 transporting Russian fossil fuels to Europe through a Turkish pipeline crossing the country’s territory. Also this way out was soon discarded.

The BarMar

During their yet another summit in late October, the European Union’s heads of state and governments launched more debates on how to grant their energy supplies.

At the end, the leaders of Spain, Portugal, and France agreed on 20 October 2022 to replace the MidCat project with a new “green energy corridor” that would be able to transport hydrogen. And they called it BarMar.

Where From?

So far, no accurate details are known of the major features of such a project. For instance: where will this hydrogen come from?

According to the European Union’s data, hydrogen accounts for less than 2% of Europe’s present energy consumption and is primarily used to produce chemical products, such as plastics and fertilisers. 96% of this hydrogen production is through natural gas, resulting in significant amounts of CO2 emissions. So?

How Green Is the “Green Energy Corridor”?

The BarMar project’s defenders say that hydrogen is the future of energy. Critics insist that hydrogen is most efficient if it is used around its source.

Anyway, if it is so green, why has the West, including Europe, not turned up sooner to this source of energy?

For How Long. How Much? Who Will Pay?

This BarMar project implies great costs and, according to European sources, it would be a sort of a “transitional” plan. To what? How long will it take to implement the project?

Not having released specific final details, the Spanish, Portuguese and French leaders decided to meet in December 2022 to discuss those details.

Where Will the Money Come From?

For now, French President Emmanuel Macron rushed to put the bandage before the wound, saying that the BarMar project would “benefit from European funding.”

The European Union’s funds are composed of the proportional contribution of each one of its 27 member countries, with Germany being the major contributor.

However, in view of the big European financial crisis caused by the COVID-19 pandemic and now exacerbated by Ukraine’s proxy war, a big portion of such reserves have been designated to alleviate the economic and social impacts, let alone the spectacular rise of fossil fuels prices for citizens.

The Military Race

During NATO’s Summit in Madrid, this Western alliance of 30 countries, decided to further militarise Europe by increasing the continent’s spending on weapons and multiplying its troops, in addition to further extending its presence in Africa. Such militarisation process implies high costs to Europe.

In addition, following the United States’ huge weapons supplies to Ukraine, which for now are estimated at more than 17 billion US dollars, European countries have also continued to send weapons to Ukraine.

Here, some European politicians started talking about the urgent need to replenish the continent’s “empty weapons shelves.”

Furthermore, the European leaders have just decided to transfer to Ukraine up to 1.5 billion US dollars… every single month… as part of the estimated 3 to 3.5 billion… a month… that the West decided to send to Ukraine.

Is the Fossil Fuels Rush Over Soon?

Not really. Germany seems to be thinking about reopening their nuclear plants to produce electricity.

Norway is reported as planning to increase oil production from the Northern Sea. The United States, being the world’s largest oil producer, has doubled its liquified gas supplies to Europe.

Venezuela, Saudi Arabia

Washington decided that the heavily sanctioned Nicolas Maduro’s government in Venezuela is not all that bad, therefore the US has approached Caracas to increase its fossil fuels production.

At the time, Western leaders pressured the Organisation of the Petroleum Exporting Countries (OPEC), which groups 13 oil-exporting ‘developing nations,’ to pump more oil and gas in the market.

Having OPEC’s top producer: Saudi Arabia shown reluctance, the US-led West has threatened to punish their own “friend and ally” — the Saudis, through sanctions.

Carbon, Fracking

Meanwhile, several European states, mostly the EU Eastern member countries, have been steadily intensifying the extraction and use of another fossil fuel: coal.

And one more European country however is no longer an EU member: the United Kingdom plans to extend the business of “fracking”.

Further to the United Kingdom’s parliamentary debates around the already ousted Liz Truss Conservative government plan to lift the 2019 decision to ban fracking, the British Broadcasting Corporation (BBC) reminded that hydraulic fracturing, or fracking, is a technique for recovering gas and oil from shale rock.

And that it involves drilling into the earth and directing a high-pressure mixture of water, sand and chemicals at a rock layer in order to release the gas inside.

Environmental organisations and activists worldwide continue to warn about the high dangers to Earth of carrying out such an activity. An activity that, by the way, is still widely extended in the world’s biggest fossil energy producer–the United States.

© Inter Press Service (2022) — All Rights ReservedOriginal source: Inter Press Service

Where next?

Related news

Browse related news topics:

Latest news

Read the latest news stories:

  • Europe in Its Labyrinth Monday, October 24, 2022
  • U.S. Political Divides on Demographic Issues Monday, October 24, 2022
  • Indian Village Unlocks Treasure of Organic, Indigenous Farming Monday, October 24, 2022
  • Austerity: A Raging Storm for the Developing World that can be Avoided Monday, October 24, 2022
  • Making cities safer for women: UN report calls for radical rethink Monday, October 24, 2022
  • In visit to Viet Nam, UN chief stresses critical need for solidarity to overcome climate crisis Sunday, October 23, 2022
  • Kenya: UN steps up protection for drought-hit women and girls Sunday, October 23, 2022
  • India’s first solar-powered village promotes green energy, sustainability and self-reliance Saturday, October 22, 2022
  • ‘How I became the first UN video game expert, and landed the best job in the world’ Saturday, October 22, 2022
  • Tracking Social Media to Uncover Ivory Trafficking in Rwanda Friday, October 21, 2022

In-depth

Learn more about the related issues:

Share this

Bookmark or share this with others using some popular social bookmarking web sites:

Link to this page from your site/blog

<p><a href="https://www.globalissues.org/news/2022/10/24/32232">Europe in Its Labyrinth</a>, <cite>Inter Press Service</cite>, Monday, October 24, 2022 (posted by Global Issues)</p>

… to produce this:

Europe in Its Labyrinth, Inter Press Service, Monday, October 24, 2022 (posted by Global Issues)



Source link

Tags: EuropeglobalIssuesLabyrinth
ShareTweetShareShare
Previous Post

Sandoz spin-off updates, comments on Gilenya generics in focus for Novartis Q3 earnings

Next Post

Uganda says 9 more Ebola cases confirmed in Kampala, urges vigilance

Related Posts

Artemis II crew will see total solar eclipse during moon flyby

Artemis II crew will see total solar eclipse during moon flyby

by Index Investing News
April 5, 2026
0

The crew is expected to lose contact with Earth for about 40 minutes Monday while they're behind the far side...

Protest shuts down ferry rides between Puerto Rico and Vieques, snarling travel plans

Protest shuts down ferry rides between Puerto Rico and Vieques, snarling travel plans

by Index Investing News
April 1, 2026
0

SAN JUAN, Puerto Rico -- A protest over a rate increase forced Puerto Rico’s government on Wednesday to cancel ferry...

Were 2 enough? Experts question number of air traffic controllers during LaGuardia midnight shift

Were 2 enough? Experts question number of air traffic controllers during LaGuardia midnight shift

by Index Investing News
March 28, 2026
0

Were two air traffic controllers enough?Following the deadly collision between an Air Canada jet and a fire truck on the...

Oriental turtle dove from east Asia turns up in Ireland — Earth Changes — Sott.net

Oriental turtle dove from east Asia turns up in Ireland — Earth Changes — Sott.net

by Index Investing News
March 24, 2026
0

© Richard CavesOriental Turtle Dove, Lisburn, Antrim.The head of communications and development at Birdwatch Ireland has said the rare oriental...

US Fitness app exposes location of French aircraft carrier — RT World News

US Fitness app exposes location of French aircraft carrier — RT World News

by Index Investing News
March 20, 2026
0

Le Monde traced the 262-meter warship using satellite imagery guided by fitness app data A French Navy officer using a...

Next Post
Uganda says 9 more Ebola cases confirmed in Kampala, urges vigilance

Uganda says 9 more Ebola cases confirmed in Kampala, urges vigilance

Liz Giorgi, CEO of Soona shares her wellness habits

Liz Giorgi, CEO of Soona shares her wellness habits

RECOMMENDED

AMD Inventory: Onerous To Go Unsuitable With Rock-Strong Execution (NASDAQ:AMD)

AMD Inventory: Onerous To Go Unsuitable With Rock-Strong Execution (NASDAQ:AMD)

August 19, 2022
Why and When Real Estate Investors Should Use General Contractors to Their Advantage

Why and When Real Estate Investors Should Use General Contractors to Their Advantage

September 14, 2023
Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship By Reuters

Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship By Reuters

April 24, 2023
Name of justice: India ought to reform its course of for the elimination of judges

Name of justice: India ought to reform its course of for the elimination of judges

April 8, 2025
Is Mondelez A Buy After The Q2 Earnings? (NASDAQ:MDLZ)

Is Mondelez A Buy After The Q2 Earnings? (NASDAQ:MDLZ)

August 2, 2023
Floods wash out roads, harm properties in southwest Virginia, however no lives misplaced

Floods wash out roads, harm properties in southwest Virginia, however no lives misplaced

July 14, 2022
Chelsea 4 – 0 Preston

Chelsea 4 – 0 Preston

January 6, 2024
2023 NBA field goals per game leaders

2023 NBA field goals per game leaders

January 15, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In