Ed Miliband is the last fool standing on net zero
While the rest of the world abandons its climate change policies, Britain is still cutting emissions at any cost
So Donald Trump plans to reverse the “endangerment finding” that underpins most climate-related regulation in America. This is further proof that Britain is being increasingly left behind by a global rush to dismantle the climate scare. Ed Miliband is now almost alone in accelerating towards decarbonisation. Even if you think he is brave to jump out of the trench and go over the top, you have to admit it makes no sense to go alone.
Step outside Britain and you realise just how isolated we are becoming on climate policy. America is abandoning most of its climate change subsidies and rules. Stellantis, formerly known as Chrysler, is the latest car manufacturer to take a massive write-down as it backs out of trying to switch to electric cars. The AI industry is embracing gas-fired power to quench its insatiable thirst for electricity. The oil industry is abandoning renewables. The finance industry has disbanded many of its climate initiatives. Even the Democrat party has stopped talking about climate. China and India are building coal plants galore. Europe is watering down its climate targets.
We are soon going to be the only soldier still charging across no-man’s land towards the enemy. Everyone else is safely back in the trench. To put it another way, the effects of carbon dioxide on the world are going to happen anyway so we would be better off adapting to them than trying to reduce our own contribution. About 99.2 per cent of global emissions originate outside Britain, so what we do here has almost no effect.
For years, people like me were told that we did not understand. Britain was setting an example to the world, you see. We had a duty to lead and if we got to net zero first we would reap rich rewards selling the dream to those who followed. Instead we find ourselves dependent on imported gas and oil and relying on unreliable wind and solar power. We are thus saddled with stratospherically high electricity prices, ensuring that we will largely miss out on the real economic opportunities of the late 2020s: in artificial intelligence.
In seeking to persuade us that carbon dioxide was a danger, Britain cooked the scientific books. The technical term for the net harm done by carbon dioxide is the “social cost of carbon”. But if you look up the Government’s position, it says “carbon valuation for policy appraisal no longer uses the social cost of carbon”. The reason for this is that however hard they tried, economists could not make the social cost of carbon greater than the social cost of decarbonisation. So instead, they just decided to cut emissions at any cost.
The Telegraph: continue reading
Featured image: The Telegraph
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