The message that we need to electrify everything that currently uses fossil fuels to generate energy has become the dominant message of the energy transition. Solar, wind, and energy storage—perhaps with the help of hydropower and some nuclear—can handle the energy needs of mankind, the argument goes, and do it with a much lower carbon footprint. Yet, the Arctic cold wave that is sweeping across the United States has seriously undermined this argument. Natural gas prices exploded last week in many parts of the U.S. and are still rising…
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