The recent gas crisis in Europe has brought to light the problematic nature of monopolies. While most businesses get richer when they sell more, monopolies selling necessary goods can get richer by selling less. Russia and OPEC are aware of this fact, and their actions in reducing gas flow and raising prices are evidence of this.
The gas crisis is mainly a European problem, as gas prices in the US are ten times cheaper than in Europe, creating unfair competition for European industry. This problem calls for urgent solutions, and I would like to propose some suggestions.
Firstly, we need to invest in our gas net, which has cost trillions to build and transports five times more energy than the electric net. Although hydrogen is a promising alternative, it is not yet compatible with our gas net and needs to be converted into a gas that is more suitable. Universities and research centers in Europe should focus on developing such a gas. In addition, we need to accelerate biogas production and make it compatible with our gas net.
Secondly, gas fields in the North Sea can help us in the coming years, but we must produce more in Europe to keep our Euro strong so we can afford to import essential products. We cannot afford to say goodbye to nuclear energy, but we must focus on maintenance and innovation to reduce safety risks.
Thirdly, we need a higher stake in energy from the state to defend our strategic interests. Energy has monopolistic aspects, making it difficult for a free market to regulate it effectively.
Lastly, we need more secrecy on tactics to cope with Russia's energy cuts. Plans could get sabotaged, and openness is not always possible when war is involved. I invite everyone to participate in the discussion and share their opinions and ideas on this pressing issue.
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