by IRIB (the iranian national TV channel) hosted a discussion about the human costs of the European energy crisis. The lead was given by a recent ECONOMIST article arguying that the deaths caused (through cardiac and respiratory complications) by the lack of sufficient energy (caused by the skyrocketing of the energy prices) surpassed those caused by COVID-19. Unsurprisingly, the ECONOMIST attributed the high cost of energy to Russia and the Ukraine conflict. I argued that the ECONOMIST article was correct on one point, wrong on a second point and consciously hiding two other points. ECONOMIST was correct in pointing out the big human cost of the European energy crisis. His statistical calculations (how to measure deaths caused by COVID-19 and those by energy poverty) are not
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IRIB (the iranian national TV channel) hosted a discussion about the human costs of the European energy crisis.
The lead was given by a recent ECONOMIST article arguying that the deaths caused (through cardiac and respiratory complications) by the lack of sufficient energy (caused by the skyrocketing of the energy prices) surpassed those caused by COVID-19.
Unsurprisingly, the ECONOMIST attributed the high cost of energy to Russia and the Ukraine conflict.
I argued that the ECONOMIST article was correct on one point, wrong on a second point and consciously hiding two other points.
ECONOMIST was correct in pointing out the big human cost of the European energy crisis. His statistical calculations (how to measure deaths caused by COVID-19 and those by energy poverty) are not unambiguous. However, it is an undisputable fact that the skyrocketing of energy prices has a huge human cost; both in deaths and in deteriorating living standards and energy poverty of the popular classes.
ECONOMIST was wrong in putting the blame unequivocally on the Ukrainian conflict. Energy prices have started hiking at least 6 months before the beginning of the Ukrainian conflict.
ECONOMIST consciously hides the two main reasons behind the skyrocketing of energy prices.
The first reason is the European energy exchange; a speculative mechanism instituted by the European Union. This mechanism boosts the profits of the big energy companies (at the detriment of consumers) but also exacerbates volatility and instability during
crises and geopolitical conflicts.
The second reason that ECONOMIST consciously concealed is that European energy prices were increased further because of EU’s subservience to the US. The EU not only decoupled abruptly from its traditional supply from Russia, but also turned towards the extremely costly LNG (liquid natural gas).
The profitable for energy capitalists turn towards renewable energy sources – masqueraded as Green capitalism – augmented the problem as these sources are expensive, unreliable and not eco-friendly also.
The video recording of the discussion (mostly in Farsi unfortunately) follows.