alt Hacker News> spending €250B on a continental scale renewable energy project
Let me stop you there: the EU budget for 2026 was €193B. https://eur-lex.europa.eu/budget/www/index-en.htm
Basically Europe doesn't have political leadership, nor does the EU itself have a budget larger than the member states like the US Federal budget. In return, the EU, primarily Germany, has imposed "fiscal discipline" which prevents running a short term large deficit in order to make this kind of capital investment.
Also, two hundred billion Euro is a lot of money for anyone who isn't an AI startup.
Replies
seydor • today at 2:20 PM
The EU is not funding projects directly, it's setting the rules. Individual governments pay the bill
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What is the value of the EU if's it not coordinating multi-national scale efforts?
This would need to be a joint venture as some places are really good for wind, and some places are really good for solar, but not every country on their own has access to those locations. The budget for the EU doesn't matter, because this project would be a separate line item with it's own funding.
Energy independence is extremely valuable. Way way way more valuable then $250B or even $500 or $750B for that matter. Society runs on energy, and if it's not fully yours, you are always a rug pull away from social collapse.
If 2022 was a cold winter, and America had a cold leader, this project probably would have breezed through the bureaucracy in a week.