CRISISBOOM

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Germany will phase out nuclear power by 2022, German Chancellor Angela Merkel announced June 3. A week before, Switzerland made a similar decision. Italy followed suit on June 13, voting overwhelmingly to reject nuclear power in a national referendum.

These countries will almost certainly have to replace their nuclear power with natural gas, at least in the short term. It is readily available and less polluting than coal or oil. The International Energy Agency recently predicted a “golden age of gas.”

The only problem is where Europe gets most of its gas from Read more…