Germany is Europe’s wealthiest economy – absolutely and per capita. Why do we still import Russian energy?
Typical argument 1: « Without Russian energy, our GDP/SMEs/big business collapse. » The truth is: Even the most pessimistic economic analysis “just” predicts a six per cent drop in GDP. This is roughly equivalent to the Corona-induced recession in 2020 and therefore bearable.
Typical argument 2: « If we don’t buy Russian energy, China will. In total, nothing will change. » The truth is: China cannot replace German imports in the short term. The price of Russian energy exports would therefore significantly drop.
So what is the German discussion really about? Politicians fear that the decisive German “median voter” would suffer from the slightest prosperity loss. That is not a sustainable strategy in the long run!
- First: Peace, freedom and a pluralistic society come at a cost – Germany cannot keep freeriding on the USA’s expenses!
- Second: Germany’s potential to save and substitute energy is huge! Reduce the room temperature both at home and in office buildings! Use catlick instead of permanent hot showers! Walk any distance up to 6 km! Travel local instead of long-distance! Take nuclear energy instead of coal, oil and gas! Accept windmills in your backyards and everywhere else!
Our grandchildren will ask about our personal fight against Putin’s war crimes the way we asked our grandparents about their personal fight against Hitler’s genocide. What will be our answer?
Prof. Dr Britta Kuhn teaches Economics/International Economics at the Wiesbaden Business School of RheinMain University.