The Coming Global Crisis of Climate Policy
Comment of the Day

September 09 2022

Commentary by Eoin Treacy

The Coming Global Crisis of Climate Policy

This strident article from the Wall Street Journal may be of interest to subscribers. Here is a section:

Politicians are happy to blame Vladimir Putin and his Ukraine invasion for the current energy disaster. But what transformed that one-off shift in the relative price for energy into a global disaster was two decades of green-energy policy beforehand. In Europe, that includes a fixation on renewables incapable of powering industrial economies absent battery technologies that don't exist, a refusal to tap domestic fossil-fuel reserves such as shale gas, and a deep and irrational hostility to nuclear power in many parts of the Continent.

This has created an energy system of dangerous rigidity and inefficiency incapable of adapting to a blow such as Russia's partial exit from the European gas market. It's almost inevitable that the imminent result will be a recession in Europe. We can only hope that it won't also trigger a global financial crisis.

Eoin Treacy's view

The tide has certainly turning against the revisionist green movement. This article is very representative of the growing groundswell of disillusionment with how electricity grids and generation has been managed.

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