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Can Europe quit Russian fossil fuel by next winter?

Can Europe quit Russian fossil fuel by next winter?

FromCatalyst with Shayle Kann


Can Europe quit Russian fossil fuel by next winter?

FromCatalyst with Shayle Kann

ratings:
Length:
50 minutes
Released:
Mar 31, 2022
Format:
Podcast episode

Description

Europe imports about 45% of its natural gas from Russia. As the conflict in Ukraine escalates, pressure is mounting for Europe to wean itself off Russian energy as quickly as possible. European sanctions against Russia have excluded the energy trade, meaning that European purchases of oil and gas – which fund about 40% of Russia’s federal budget – are in effect funding the Russian war effort in Ukraine.
So how could Europe eliminate the import of Russian fossil fuels?
In this episode Shayle talks to Princeton energy professor Jesse Jenkins about how to do it. The EU’s current plan is to cut its import of Russian gas by two thirds by the end of the year. Jesse’s energy modeling team is working on a plan to cut 100% of Russian energy imports by October 1.
Shayle and Jesse explore the immediate impact of the war in Ukraine on energy markets and the ripple effects on other markets like fertilizer, food and carbon markets. 
Then they discuss the tools Europe and its allies have at their disposal in the short term, such as switching from gas to coal, ramping up heat pump installations and extending the operation of nuclear plants. They also examine a possible path for the US – decreasing domestic use of fossil fuels while increasing exports of coal and liquid natural gas to Europe. 
Finally: How could this rapid shift in Europe accelerate the energy transition in the long term?
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Released:
Mar 31, 2022
Format:
Podcast episode

Titles in the series (100)

Investor Shayle Kann is asking big questions about how to decarbonize the planet: How cheap can clean energy get? Will artificial intelligence speed up climate solutions? Where is the smart money going into climate technologies? Every week on Catalyst, Shayle explains the world of "climate tech" with prominent experts, investors, researchers, and executives. The show is a co-production of Post Script Media and Canary Media.