Last week, as Cyprus deliberated on the details of bank levies on deposits in the country (essentially state-approved theft), I discussed the potential Russian influence on such a deal. We saw that Russia was looking to make deals in Cyprus that would give it more control over natural-gas supplies in the Mediterranean, which in turn continues Putin’s dominance of the European energy scene. To counter this, European nations are beginning to look within their own borders for their energy needs: oil, natural gas, coal, and uranium. Every bit of energy that they can produce domestically means energy that does need to be imported from Russia. Considering the fact that Russia has shown that it is willing to shut off all natural-gas flow to Europe if it doesn’t get its way, it is a good idea for Europe to start turning on the drills. It is also no secret that Europe needs more jobs for its people. With unemployment in the Eurozone reaching 12% and youth unemployment almost 25%, governments are also desperate to find ways to keep their population productive instead of protesting in the streets. The oil and gas sector represents an industry that could potentially lend a helping hand by employing thousands of people. We firmly believe that we are in the middle of an European Energy Renaissance. Governments of Europe will begin to open up their countries to more oil and gas exploration. Regulations will be relaxed. Energy taxes will be reduced. And investors in the right companies will profit greatly. When we were the first to write about the shale potential in Europe back in 2008 and recommended the first energy company to drill an economic shale well in Europe, our subscribers were able to net a 720% return on their investments. And we believe that we have a company in our portfolio that is just as good: a junior exploration company that is sitting in the heart of Europe. By applying new technology to old fields and old wells, it may very well be sitting on the next Bakken. In our Casey Energy Report, we will also be doing a report of the energy situation in Europe to look for further opportunities for profit just like this in the near future. So ask yourselves this: Are you content with sitting in the Old World, mocking every profitable ship that passes you by? Or are you ready to set sail and explore this New World of energy with us? Additional Links and Reads Cyprus Is Sitting on a Natural-Gas Gold Mine (CNN Money) Last week’s energy CDD focused on the fact that the Russians are extremely interested in the natural-gas potential in Cyprus. But just where is the natural gas, and how much can realistically be recovered? This article outlines the basics of Cyprus’ natural-gas wealth. It is clear that such a development would change Cyprus forever… but can Cyprus last until then? New Nuclear Power Station Gets Planning Consent (Guardian) Though countries may say they are looking for alternative ways to generate electricity, the truth is that nuclear is still the best near-term solution for a base-load power that does not require fossil fuels. The United Kingdom has approved the first nuclear power plant in the past 18 years, and it will be one of the largest power plants in the UK, powering up to 5 million homes. We expect to see more countries join in the nuclear rush to solve the electricity needs of growing populations. Even in Bankruptcy, China’s Suntech Exacerbating Solar Glut (Financial Post) Suntech Power Holdings became the latest and largest casualty of the solar industry recently, as it is now clear that government subsidies are essential to keep it afloat. As the Chinese government began to pull back on its subsidies, the company began to struggle in a market that is faced with lower solar-panel prices due to a glut of products. In fact, it is said that the company lost $1 for every $3 of sales, meaning that it was bleeding money every single day. Could this happen to other solar companies? Definitely.