Europe Taking Drastic Action, Already Bailing Out Energy Companies With Winter Still Months Away

Former President Donald Trump has been proven right once again, as Europe is taking drastic actions in response to being cut off by Russia.

In September of 2018, then-President Trump was laughed at after he warned European countries about their overreliance on Russia for energy.

“Reliance on a single foreign supplier can leave a nation vulnerable to extortion and intimidation,” he stated at the time.

On Wednesday, the former president was proven right once again as the Austrian government took steps to bail out Wien Energie.

The Associated Press reports that the Russian invasion of Ukraine has caused strain on Europe’s electricity and gas markets.

As a result of the strain, companies such as Wien Energie — which is run by the city of Vienna and serves as many as 2 million customers — have been forced to face severe financial difficulties.

Austria isn’t the only European country facing difficulties as a result of their reliance on Russia. Sweden’s government is now offering to provide “liquidity guarantees” to energy companies from the Nordic and Baltic countries to keep them afloat, according to reporting from BNN Bloomberg.

While energy bailouts continue to occur across Europe, Trump’s 2018 warning appears more and more accurate every day — especially when it comes to Germany.

Germany is often regarded as the world’s gold-standard producer of green energy. Over a decade ago, Renewable Energy World praised Germany for being “the world’s first major renewable energy economy.”

In spite of these claims, Germany is facing just as much of an energy crisis as other European countries.

The worst part is, Trump actually specifically singled out Germany while he was warning Europe about their dependence on Russia. During his 2018 speech, the president warned that Germany would soon become “totally dependent on Russian energy” if the country’s leaders did not make significant changes to their policies.

Clearly, they did not listen — instead, they laughed at Trump — and they are now paying the price for their inaction.

As Germany became too dependent on unreliable “green energy” sources such as wind and solar, the country became vulnerable because it had to supplement those energy sources with a reliance on Russian gas and coal — which resulted in skyrocketing energy prices.

Responding to the rising costs, Germany was forced to raise the annual cost of household gas bills by almost $500, according to a report from Reuters on August 15.

“The alternative would have been the collapse of the German energy market and, with it, large parts of the European energy market,” said German Economy Minister Robert Habeck, according to Foreign Policy Magazine.

If these European countries had just listened to Trump rather than laughing at his warnings, none of this would be happening. Instead, they are now scrambling to bail out their energy companies while initiating price hikes to get things back on track. Their left-wing “green” policies and refusal to think ahead have driven them to this point, and it may be too late to do anything to fix it.

As The Western Journal noted, “Maybe next time Trump sends them a warning, European leaders will have the sense to listen to him.”