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Europe Made A Mistake With Russia’s Energy And Now It Needs To Invest

2 min read
Chris Murphy

Chris Murphy

On Tuesday, U.S. Senator Chris Murphy criticized Europe’s excessive reliance on Russian energy, saying it had come at a high cost and urging the continent to start making significant investments in alternative sources. At the Warsaw Security Forum in Poland, Democratic Party member Murphy said, “What a mistake for Europe to have been welded to Russia when it comes to energy.”

“We’re now seeing the price of that mistake, so let’s make up for a lost time,” he said. The growing global energy crisis that resulted from Russia’s unprovoked invasion of Ukraine has been led by Europe. As a result of its own sanctions against the Kremlin, the region, which once depended on Russia for up to 45% of its natural gas needs, is now faced with dwindling supplies and skyrocketing prices.

Murphy argued that the United States had significantly increased its energy security and urged Europe to do the same. He declared, “Now is the time for Europe to spend some money.” I realize that’s challenging given the current economic pressures you’re under. However, now is the time to invest in nuclear energy, renewable energy, and connecting to pipelines that are not Russian.

He praised the Inflation Reduction Act of the United States, which President Joe Biden signed into law in August and which has a number of provisions to support the nation’s move toward clean energy. The measures, according to Murphy, would make sure that the United States was no longer reliant on “the Russians, nor the Saudis, or any other dictator” for its energy needs. He continued, saying it was in the interests of democratic nations that the U.S. might be willing to provide financial assistance to Europe for its energy transition. He said, “I’m hoping that the Americans will put up some money to help Europe. The time is now to make investments that will pay off in the long run.”

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