The billionaire and Microsoft co-founder explained during an interview with CNBC that although global economies cannot immediately discard oil and gas, current shortages in the European energy market will prompt a faster transition away from fossil fuels.
"Now, without the Russian natural gas being available in Europe, it's a setback. We need to find non-Russian hydrocarbon sources to substitute for those. Keeping those economies in decent shape is a priority. Now on the other hand, it's good for the long run, because people won't want to be dependent on Russian natural gas, so they'll move to these new approaches more rapidly."Natural gas shipments from Russia, which had already paused exports to Germany through Nord Stream 1 before the pipeline system witnessed massive damage, provided 40% of the continent's natural gas supply last year. European Commission President Ursula von der Leyen acknowledged that low hydropower generation, which emerged from low river capacity, is partially responsible for soaring energy prices, although she said the "effects of climate change" were responsible for the low water levels.
Comment: Someone should inform her how many locations around the globe are currently in flood crisis.












Comment: A stupendous argument based on lies and fiction to hammer home Gates' message.