A Current Examination of the German Energy Industry, Fossil Fuel Use, and Climate Change
Oil, Gas, & Energy Quarterly, 2021, 69(4), 599-618
34 Pages Posted: 25 Aug 2021
Date Written: 2021
Energy firms provide key sources of energy needed to power the world economy. This paper offers a current overview of major energy firms in Germany, including location, geographic operations, and financial performance. German energy firms increasingly use renewable energy sources, thereby reducing use of fossil fuels, which are considered contributors to climate change. The topic of climate change is a highly contentious political debate. The political debate centers on how much of climate change is human-caused and what will be the future consequences. Extensive research indicates that climate change will not have significant negative consequences and could even have beneficial consequences. Nevertheless, radical environmental activists, aka climate-change-catastrophe-proponents (CCCPs), oppose any fossil fuel use. One thing not debatable is that reducing use of fossil fuels has increased the cost of energy and has thereby negatively affected economic progress. That the speculative benefit of reducing use of fossil fuel is more than the cost to society is unlikely. Political leaders, policy makers, and government regulators, in Germany and other countries, should consider both sides of the climate debate when formulating future energy policy.
Keywords: Climate change, energy firms, world economy, financial performance, energy supply
JEL Classification: Q38, Q42, Q48, Q54, Q58
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