As Europe faces freezing dark blackouts this winter due to the impending energy crisis, Bill Gates said that such a disaster is “good in the long run.”
While touting his Breakthrough Energy Ventures climate-technology (carbon tax) investment company, the billionaire said, “People did get a little optimistic about how quickly the transition could be done.”
“Without the Russian natural gas being available in Europe… it’s a setback,” Gates told CNBC.
“We need to find non-Russian hydrocarbon sources to substitute for those so there’s coal plants running and variety of things, because, you know, keeping, you know, people warm, keeping those economies in decent shape is a priority,” Gates asserted.
“Now, on the other hand, it’s good for the long run, because people won’t want to be dependent on Russian natural gas, so they’ll move to these new approaches more rapidly.”
On Tuesday, Gates published a “State of the Energy Transition,” declaring that it should be the responsibility of countries that have prospered from burning fossil fuels to move to greener energy.
“Many countries in Europe and North America filled the atmosphere with carbon to achieve prosperity, and it is both unrealistic and unfair to expect everyone else to forgo a more comfortable life because that carbon turned out to change the climate.”
“I don’t think the market by itself can press reset on an entire economy in just a few decades,” adding, “We need a plan to speed the process up.”
Here are some news stories relating to the reality of the energy crisis and impeding freezing dark blackouts…