Cutting greenhouse gas emissions will save the planet for free. It turns out to be an economic barrier, which is more important than many climate alarms. [emphasis, links added]
Kallum Pickering, chief economist at London-based investment bank Peel Hunt, accepted the claims of Labour Prime Minister Rachel Reeves.
What he found was “sadly saying”, but he insisted on the facts.
“The result of Britain’s decarbonization efforts appears to be weak economic growth, stagnant living standards, high energy prices and de-productivity – Not to conceal the increasing global emissions,” he wrote in a telegram last week.
“Net zero is killing our economy,” Say the title of Pickering column is “Limiting available electricity kills productivity.”
To be honest, there is no cheap and reliable energy, which we get from fossil fuels, and the economy turns into hardening.
On the Peel Hunt website, Pickering explained that data from 189 countries suggest “The firm positive correlation between living standards and energy consumption – shows a clear link between declining energy capacity and weak productivity in the UK.”
“The decline in UK electricity supply began in 2006, which coincides with the beginning of structural weaknesses in productivity growth,” he noted.
To be honest, there is no cheap and reliable energy, which we get from fossil fuels, and the economy turns into hardening.
That's why the political left is so thrilled to end gas and oil.
As we have said many times before The greenhouse gas cutting agenda is actually an attack on capitalism As the legendary Milton Friedman said, this is the only economic system that lifts the masses out of “poverty.”
There is no better example than the new green deal by Democratic Rep. Alexandria Ocasio-Cortez, whose office calls it “a work and justice-centric program that decarbonizes within 10 years.”
But this is just a cover for a more sinister target.
“It's not a climate thing at all,” said the former chief of staff of the New York Congresswoman. It's “a changing economic thing.”
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