By Daniel Turner
June 29, 2023
➡ Read Mooooo’re!
First, the report examines some of the more unreasonable assumptions. For example, the IEA plan is based on China, the world’s largest emitter of greenhouse gases, also embracing the wisdom of going carbon-neutral, beginning in 2021. One immediate problem: China was producing two new coal plants per week in 2022. Addressing energy before a speech to the Communist Party Congress last fall, President Xi Jinping was focused on “getting the new before discarding the old.”
Second, to make up for fossil fuels (which account for 80% of the world’s energy supply), the world needs more electricity — a lot more electricity. In fact, global power supply needs to increase from less than 20% of all energy use to 50% by 2050.
Of course, setting aside feasibility questions, the consequences would be dire and all too recognizable. Soaring inflation. Spikes in gas prices as supply and production are constricted. More land gobbled up for wind and solar farms. An increased reliance on OPEC+ monopolizing the world’s oil supply, even as high as 82%, placing our nation’s geopolitical security in the hands of nations who wish us harm. If this sounds familiar, it is: it’s what we are going through right now because of bad decisions coming out of Washington, D.C.
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Always Something: Not Your New Normal!! 