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Things have been a bit dicey in Europe and globally when it comes to energy. Russia’s invasion of Ukraine led to an existential energy conundrum on the continent. The European Union (EU) had been trying to “play nice” with Russia for years and make deals that involved buying Russian fossil fuels, hoping this would ease Russia into a more and more democratic and EU-friendly mode. However, the horrors of Russia’s Ukraine invasion led Europe to make a U-turn and try to cut its reliance on Russian energy. Then there’s the whole situation in the Middle East, where the US and Israel bombed Iran and Iran subsequently decided to block ships from carrying oil through the Straight of Hormuz.
France is now trying hard to counter these concerns and risks by focusing on a huge increase in its own electricity generation and shifting from technologies that rely on fossil fuels to ones that just need electricity. Furthermore, it already has thousands of companies on board to help with this.
“This is a major transformation plan involving 6,000 companies and will create or maintain more than 600,000 jobs,” Macron said. “It’s good for purchasing power, it’s good for competitiveness, it’s good for the country’s independence.”
