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America First / Energy Panic

France in the throes of energy panic and fear of running out of electricity in January

The vote on the law, in mid-August, with a single majority in the US Senate, was seen as a great political success for Joe Biden and the Democrats. Before the Europeans measure its scope. The Inflation Reduction Act, IRA, which has little to do with inflation… is the largest investment ever made in the fight against climate change: a vast $370 billion plan intended to greener and revive the US economy. With massive subsidies for the production and purchase of electric vehicles, wind turbines and solar panels. Made in the USA only. Therefore, the $7,500 tax credit granted starting January 1 to electric car buyers will apply only to vehicles assembled in American plants, with components – and above all batteries – manufactured on American soil. Or Mexico and Canada, which are the only 2 foreign exemptions. The same goes for wind turbines and solar panels, which are subsidized on the condition that American steel is used. If we add to this a very advantageous energy price – with gas produced locally, 5 times cheaper than what we are billed in Europe – we have all the panoply of measures that could make the United States the eldorado of green and electric car industry.

Several European and Asian industrialists have already announced new investments or new factories across the Atlantic that could benefit from the enormous subsidies of the IRA Subsidies which according to Bruno Le Maire would reach 4 to 10 times the maximum amount authorized by the European Commission. Emmanuel Macron has just brought the topic to the table during his state visits to Washington and New Orleans without moving Joe Biden, who does not apologize for the plan he is about to implement.

Americans and Europeans will continue to argue. But the ball is in the field of the Europeans. Should they fight with the same protectionist weapons as China and the US?

European industry threatened first by America, Joe Biden version

For weeks, the manager of the Rte electricity grid has been warning of a risk of “tensions” in January. But it was enough for the government to release a very detailed instruction manual for each targeted and planned load shedding that could occur to avoid a gigantic and unexpected blackout, a generalized blackout, for panic to be unleashed. The Great Fear of January, headlined Le Figaro on Friday. With the support of an ODOXA poll showing that 62% of French people think they themselves will suffer cuts. While the idea of ​​a France by candlelight or in Amish mode ran on the news. Before this clarification from the President of the Republic yesterday on TF1… It’s up to you. But no, replies the opposition. This is mainly due to the negligence of governments, which have not been able to change our energy supply in time.

How do you deal with this risk of shortage, this energy vulnerability? Existential subject, sign of the downgrading of France?

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