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boem@lemmy.world to Europe@feddit.deEnglish · 2 years ago

Germany went from envy of the world to the worst-performing major developed economy.

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Germany went from envy of the world to the worst-performing major developed economy.

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boem@lemmy.world to Europe@feddit.deEnglish · 2 years ago
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Germany went from envy of the world to the worst-performing major developed economy. What happened?
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Germany racked up one economic success after another for most of this century. But the loss of Russian natural gas due to the war in Ukraine has dealt a severe blow to its industry through higher energy costs.
  • zephyreks@lemmy.ca
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    2 years ago

    2022 Chinese renewable energy subsidies totalled 600 million USD.

    2020 Chinese renewable energy subsidies totalled 807 million USD.

    Germany, meanwhile, allocated 4 billion euros annually to subsidize electricity prices for industry.

    • Mopswasser@feddit.de
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      2 years ago

      Okay, let’s do it like China.

      • zephyreks@lemmy.ca
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        2 years ago

        No way! An industrializing nation with the largest (or second largest) population in the world and without access to cheap natural gas has high emissions? Next you’ll tell me that water is wet and Russia is invading Ukraine.

        A core issue that’s dominated Chinese policy is robust access to oil. Meanwhile, the core driver of decreasing emissions in most of the West has been the shift from coal to natural gas.

        Nowadays, academics are mixed on the true impact of natural gas because of methane leakage (~3%, but methane being something like a 25x more potent GHG than CO2).

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