More and more countries are working to adopt greener energy sources and reduce their greenhouse gas emissions. Turning to solar and wind energy to meet demand will not only reduce the use of coal but also help countries meet the targets set in the 2015 Paris Agreement.
The Paris Agreement establishes an international framework to steer clear of catastrophic climate change by keeping global warming below 2o C and trying to reach a 1.5o C limit.
Earlier this week, Germany closed its remaining atomic power stations amid conflict between two groups: politicians and conservative commentators on one side with greens and left wingers on the other.
Left wingers posit that the use of nuclear is a more expensive option in comparison to greener energy sources while conservatives accuse the government of increasing fossil fuel reliance instead of using nuclear at a time when cutting energy from Russia means increasing prices. On the other hand, the government argues that keeping the trio of nuclear stations running would need significant funds, which should instead be allocated to renewable energy sources.
Earlier this week, Green Party MPs noted that it was odd for conservatives to champion for climate protection, because they regularly blocked measures to expand infrastructure for renewable energy.
Currently, Germany obtains 44% of its electricity from renewable sources of energy and about 6% of electricity from nuclear stations. Robert Habeck, the government’s federal minister for Economic Affairs and Climate Action, forecasts that by 2030, roughly 80% of the country’s electricity will be generated from renewable sources.
Over the past year, however, carbon dioxide emissions have increased while energy generated by renewables has stagnated. This forced the utility company to use more coal as well as import liquefied natural gas.
Green Party environment minister Steffi Lemke stated that the country was taking its nuclear stations offline because catastrophic accidents could never be ruled out, whether they were a result of human error or attacks. She further argued that Germany didn’t need nuclear because renewable sources of energy were more sustainable, safer, made more economic sense and were better for the environment.
Leaders among the Greens also pointed out that the country produced more energy than it needed, and despite forecasts of blackouts and shortages, it could export energy to France when nuclear stations were unable to operate due to extreme weather.
Voters also hold different opinions on the matter, with a recent ARD-DeutschlandTrend poll showing that almost a majority of Germans are against shutting down nuclear stations. Only 34% support the decision to do so.
Given the current energy crunch in different parts of the world resulting from the war in Ukraine, the uranium extracted by miners such as Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) provides a way to address the energy deficits, so it is understandable that a significant section of the German population is outraged that the country decommissioned its remaining nuclear energy plants.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
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