Harsh sanctions have been imposed against Russia over its invasion of Ukraine. However, the country's energy exports have largely been spared. One significant reason for this is Germany's high dependence on Russian energy, particularly natural gas. So how did Germany wind up in this situation? And why didn't it take steps years ago to start weaning itself off of this dependency? We discuss this with Matt Klein, the founder and publisher of The Overshoot as well as the author of the book Trade Wars Are Class Wars. He explains how misplaced German priorities led to years of underinvestment, and a poorly thought out energy strategy, which is now forcing Germany to pivot at a very difficult time.

Harsh sanctions have been imposed against Russia over its invasion of Ukraine. However, the country's energy exports have largely been spared. One significant reason for this is Germany's high dependence on Russian energy, particularly natural gas. So how did Germany wind up in this situation? And why didn't it take steps years ago to start weaning itself off of this dependency? We discuss this with Matt Klein, the founder and publisher of <a href="https://theovershoot.co/">The Overshoot</a> as well as the author of the book Trade Wars Are Class Wars. He explains how misplaced German priorities led to years of underinvestment, and a poorly thought out energy strategy, which is now forcing Germany to pivot at a very difficult time.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

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Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

On Bloomberg&rsquo;s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

Matt Klein on How Germany Wound up So Dependent on Russian Gas

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8bc4b892-2bfe-4b25-9b55-ae5100afdca6/transcript