French Legislation Weakens Clean Energy Commitments and Favors Nuclear

 Cheers to France if pending legislation passes as currently written. It effectively scraps most hard commitments and turns more towards nuclear power.

Preliminary Bill relating to Energy Sovereignty

Please consider a Google translation of a Preliminary Bill relating to Energy Sovereignty

Four Key Things

1. The wording of this preliminary bill relating to energy sovereignty is of course not final. It can still evolve between now and its presentation to the Council of Ministers and, then, during its discussion in Parliament. However, it already demonstrates a significant change in the executive’s conception of national energy policy. 
2. This draft bill weakens France’s climate objectives, starting with the objective of reducing our greenhouse gas emissions. The objective would no longer be to “reduce” but to tend towards a reduction in “our greenhouse gas emissions.
3. This preliminary draft proposes to translate into law the executive’s choice to maintain a preponderant share of nuclear energy in electricity production. A choice which breaks with that of reducing this share of nuclear power and which was included in law no. 2015-992 of August 17, 2015 relating to the energy transition for green growth. 
4. This preliminary bill also reflects concern, on the eve of the European elections in June 2024; to abandon the legal category of renewable energies” in favor of a new category, that of “carbon-free energies”.

Removals

• The removal of quantified objectives for production and consumption of renewable energies in mainland France.
• The removal of the objective of encouraging the production of hydraulic energy.
• The removal of the quantified objective for the development of offshore wind power.
• The removal of the objective of encouraging the production of agrivoltaic electricity.
• The removal of the contribution objective to achieving air pollution reduction objectives.
• The removal of the building’s energy performance objective.
• The removal of the multiplication objective ofthe quantity of renewable and recovery heat and cold.
• Removal of the condition for shutting down the operation of a nuclear reactor

New Objectives

• The affirmation of the “sustainable choice of using nuclear energy”
• The new objective of using nuclear energy in the multi-annual energy program

Wow!

How often does France lead the way in common sense?

This has not passed yet, but it represents a clear change in direction if any of it passes, and that seems highly likely.

I wonder if President Emmanuel Macron is starting to look at French polls. Then again, the next French presidential election is not until 2027.

In the US, Biden doubles down on the only tactic he knows, running on Bidenomics while claiming Trump will be a dictator if he wins.

Both are losing tactics.

Why Biden’s Approval Rating Is Miserable

Income is rising and so are wages. Even real income is up. But real wages are another matter.

I explain Why Biden’s Approval Rating Is Miserable in One Economic Chart

Personal income data from the BEA, hourly wages from the BLS, real hourly earnings and chart by Mish.

Also note the third and largest round of fiscal stimulus was in March of 2021. That’s when Biden’s popularity peaked at 55.1 percent.

For discussion, please see The Free Money Has Run Out and it Shows in the Polls

Regardless of why, it appears Macron is on the verge of doing something right. If so, cheers to France.

https://mishtalk.com/economics/french-legislation-weakens-clean-energy-commitments-and-favors-nuclear/