RUSH TRANSCRIPT Part of ░░░░░░░░ waterway Well let s ░░░░░░░░ now to Carlos torres ░░░░░░░░ who joins us from ░░░░░░░░ director of power and ░░░░░░░░ markets for independent research ░░░░░░░░ rice that thank you ░░░░░░░░ much for joining us ░░░░░░░░ me ask you first ░░░░░░░░ all the hot weather ░░░░░░░░ war in Ukraine It ░░░░░░░░ to very much like ░░░░░░░░ perfect storm Doesn t ░░░░░░░░ Yes it s really ░░░░░░░░ perfect storm and there ░░░░░░░░ a good could be ░░░░░░░░ wrong in to central ░░░░░░░░ is happening at the ░░░░░░░░ What is the answer ░░░░░░░░ what many people are ░░░░░░░░ sitting there wondering Yes ░░░░░░░░ let s go las ░░░░░░░░ Now this group is ░░░░░░░░ to It s includes ░░░░░░░░ Russian gas they re ░░░░░░░░ for alternatives like hydropower ░░░░░░░░ your but then this ░░░░░░░░ through for no available ░░░░░░░░ of the record low ░░░░░░░░ Susan not only or ░░░░░░░░ but also across the ░░░░░░░░ very low level So ░░░░░░░░ higher power generation has ░░░░░░░░ dropping and then there ░░░░░░░░ always looked around is ░░░░░░░░ runs that are really ░░░░░░░░ clothes strange our system ░░░░░░░░ as a result Eureka ░░░░░░░░ Lie on on imported ░░░░░░░░ fuels coal and gas ░░░░░░░░ there s also issues ░░░░░░░░ this fossil fuels when ░░░░░░░░ is led let s ░░░░░░░░ high prices across the ░░░░░░░░ you there are huge ░░░░░░░░ with these fossil fuels ░░░░░░░░ has the year about ░░░░░░░░ phase them out Yes ░░░░░░░░ really So this is ░░░░░░░░ like putting a stop ░░░░░░░░ this basic out of ░░░░░░░░ moment because they re ░░░░░░░░ trying to increase energy ░░░░░░░░ and arrogant is the ░░░░░░░░ is now or countries ░░░░░░░░ trying to use what ░░░░░░░░ available On though sometimes ░░░░░░░░ in school and just ░░░░░░░░ from different sources But ░░░░░░░░ think in the long ░░░░░░░░ the main focus will ░░░░░░░░ to be trying to ░░░░░░░░ out fossil fuels increasing ░░░░░░░░ of new it s ░░░░░░░░ reading Some of the ░░░░░░░░ at I didn t ░░░░░░░░ that solar panels don ░░░░░░░░ work very well over ░░░░░░░░ five degrees like how ░░░░░░░░ that even possible Oh ░░░░░░░░ there sir solar panels ░░░░░░░░ decrease our efficiency When ░░░░░░░░ s extreme temperatures married ░░░░░░░░ richie closer to forty ░░░░░░░░ five then he starts ░░░░░░░░ less electricity So then ░░░░░░░░ is also being like ░░░░░░░░ to the problem and ░░░░░░░░ winter when speeds are ░░░░░░░░ so long like for ░░░░░░░░ wind generation So then ░░░░░░░░ s all these issues ░░░░░░░░ are adding up and ░░░░░░░░ this is gonna be ░░░░░░░░ complicated to really be ░░░░░░░░ to meet power demanding ░░░░░░░░ coming months Tell us ░░░░░░░░ right that I want ░░░░░░░░ bring in a other ░░░░░░░░ panel guests and georgina ░░░░░░░░ know how is the ░░░░░░░░ being framed in France ░░░░░░░░ energy right now I ░░░░░░░░ it s it s ░░░░░░░░ s a huge problem ░░░░░░░░ s everything that anyone ░░░░░░░░ talking about I think ░░░░░░░░ because it s much ░░░░░░░░ feasible single scene fires ░░░░░░░░ seen in a river ░░░░░░░░ try not but also ░░░░░░░░ got this combination An ░░░░░░░░ was such as previously ░░░░░░░░ energy rising energy costs ░░░░░░░░ the French blamed predominantly ░░░░░░░░ Putin but then you ░░░░░░░░ also got visible climate ░░░░░░░░ in the impacts of ░░░░░░░░ change in I think ░░░░░░░░ French are asking what ░░░░░░░░ the government doing so ░░░░░░░░ you are seeing now ░░░░░░░░ is the government should ░░░░░░░░ been accused of subsidizing ░░░░░░░░ fuels to respond to ░░░░░░░░ rising energy costs and ░░░░░░░░ then saying that it ░░░░░░░░ doing a lot in ░░░░░░░░ of investing in renewables ░░░░░░░░ that won t pay ░░░░░░░░ immediately The answer there ░░░░░░░░ really now a question ░░░░░░░░ how quickly confronts at ░░░░░░░░ quickly can Europe act ░░░░░░░░ is it just too ░░░░░░░░ Let me bring you ░░░░░░░░ at this point the ░░░░░░░░ because of course in ░░░░░░░░ United States he just ░░░░░░░░ a huge deal haven ░░░░░░░░ even in terms of ░░░░░░░░ the climate infrastructure in ░░░░░░░░ U s how important ░░░░░░░░ that While I would ░░░░░░░░ add to genus point ░░░░░░░░ point out that in ░░░░░░░░ elbe river for example ░░░░░░░░ is also I m ░░░░░░░░ through a terrible drought ░░░░░░░░ stones are being revealed ░░░░░░░░ did they call hunger ░░░░░░░░ which are from the ░░░░░░░░ and seventeenth centuries Saying ░░░░░░░░ you see me be ░░░░░░░░ so this has happened ░░░░░░░░ and so I would ░░░░░░░░ very cautious about the ░░░░░░░░ that this is an ░░░░░░░░ event caused by recent ░░░░░░░░ of other half of ░░░░░░░░ have the stones were ░░░░░░░░ in I think the ░░░░░░░░ century so it was ░░░░░░░░ a while ago So ░░░░░░░░ oh indeed but you ░░░░░░░░ been what I m ░░░░░░░░ is This was not ░░░░░░░░ unprecedented if it did ░░░░░░░░ three four hundred years ░░░░░░░░ I and so I ░░░░░░░░ be cautious about taking ░░░░░░░░ action now and the ░░░░░░░░ thing that concerns me ░░░░░░░░ the actions that are ░░░░░░░░ taken now are increasing ░░░░░░░░ emissions too much hires ░░░░░░░░ levels and I think ░░░░░░░░ s a way to ░░░░░░░░ this so that we ░░░░░░░░ mindful of climate ah ░░░░░░░░ we are also mindful ░░░░░░░░ the very legitimate energy ░░░░░░░░ of all Europeans and ░░░░░░░░ think that is civil ░░░░░░░░ I think that is ░░░░░░░░ natural gas and then ░░░░░░░░ is developing are are ░░░░░░░░ energies of the future ░░░░░░░░ I would but hydrogen ░░░░░░░░ ammonia in that bucket ░░░░░░░░ with ah renewables like ░░░░░░░░ water and wind so ░░░░░░░░ those can come online ░░░░░░░░ a way that we ░░░░░░░░ t don t create ░░░░░░░░ perfect storm down the ░░░░░░░░ because what we can ░░░░░░░░ do is go back ░░░░░░░░ dependency on Vladimir Putin ░░░░░░░░ has demonstrated his willingness ░░░░░░░░ weaponize energy yeah We ░░░░░░░░ t have these shocks ░░░░░░░░ suddenly increasing carbon emissions ░░░░░░░░ I just I think ░░░░░░░░ think the United States ░░░░░░░░ now and energy superpower ░░░░░░░░ really coordinate closely with ░░░░░░░░ and with Brussels as ░░░░░░░░ as the other regional ░░░░░░░░ to say Okay what ░░░░░░░░ are responsible street dj ░░░░░░░░ to make sure that ░░░░░░░░ United States can use ░░░░░░░░ of our bounty to ░░░░░░░░ Europe Europe could have ░░░░░░░░ from the eastern mediterranean ░░░░░░░░ north Africa as well ░░░░░░░░ then we can work ░░░░░░░░ These climate goals greer ░░░░░░░░ You re in many ░░░░░░░░ or do but I ░░░░░░░░ think that Europe has ░░░░░░░░ the right thing for ░░░░░░░░ marker number of years ░░░░░░░░ have been putting very ░░░░░░░░ targets for solar energy ░░░░░░░░ when the so there ░░░░░░░░ been developing lindsay lue ░░░░░░░░ orders like stop relying ░░░░░░░░ fossil fuels for your ░░░░░░░░ this but I think ░░░░░░░░ is happening is of ░░░░░░░░ will be accelerated Renewable ░░░░░░░░ to McConnell This dependency ░░░░░░░░ fossil fuels are not ░░░░░░░░ for Russia of role ░░░░░░░░ was you What s ░░░░░░░░ in members two for ░░░░░░░░ wasn t considered is ░░░░░░░░ I think they re ░░░░░░░░ the right direction but ░░░░░░░░ will be heard Rumors ░░░░░░░░ true special for years ░░░░░░░░ complement the table Carlos ░░░░░░░░ you very much diaz ░░░░░░░░ been could talk to ░░░░░░░░ thank you for joining ░░░░░░░░ now something a little ░░░░░░░░ different the finish leader ░░░░░░░░ is facing backlash after ░░░░░░░░ seen partying in a ░░░░░░░░ video This is the ░░░░░░░░ doing the rounds on ░░░░░░░░ media sheen and of ░░░░░░░░ including finish celebrities a ░░░░░░░░ dancing and singing his ░░░░░░░░ Criticism from office Mission ░░░░░░░░ with one made at ░░░░░░░░ to take a drug ░░░░░░░░ on this man who ░░░░░░░░ the youngest prime minister ░░░░░░░░ the wild just 30 ░░░░░░░░ years old denied taking ░░░░░░░░ saying jenny drunk alcohol ░░░░░░░░ is a pre to ░░░░░░░░ drugs test Taking is ░░░░░░░░ on the video them ░░░░░░░░ without on these videos ░░░░░░░░ private They were shot ░░░░░░░░ private quarters I m ░░░░░░░░ that They ve been ░░░░░░░░ public I would simply ░░░░░░░░ an evening with my ░░░░░░░░ s party in I ░░░░░░░░ be in life legal ░░░░░░░░ dancing and singing and ░░░░░░░░ the can. Good luck.