In a commentary for Foreign Policy, columnist Adam Tooze reflects on the focus on energy security in response to the global energy crisis. He writes, “[C]ome hawkish voices in the U.S. have gone so far as to suggest that the new geopolitical configuration calls into question Europe’s entire vision of energy transition. They argue that the basic math in favor of fossil fuels now trumps green ideology.” Tooze continues, “This conservative, national security-based argument for fossil fuels and nuclear power has a gritty realism about it.” He adds that it is “superficially convincing.” But he notes that, “As for Europe, the U.S. suggestion that Putin’s war has proven the irreplaceable importance of fossil fuels and prompted a general retreat from the energy transition is simply at odds with the facts.” Tooze adds: “[N]ot is any sign of investors backing away from renewables, quite the opposite. Far from falling back in love with gas, oil and coal in 2022, the world has clearly realised that fossil fuels are an expensive and volatile trap.” The article concludes: “European governments, businesses and society are accelerating the energy transition. And they are not doing so for ideological reasons, nor because they are blind to the risks of new dependencies (especially from China). They are doing so because in a world of difficult choices and uncertainty, including US policy, a growing ecological crisis and geopolitical risks, a switch to green energy simply seems the smartest bet.”

Adam Tooze, Foreign Policy