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Energy Inflation Derails Biden’s Climate Agenda

Timothy Puko and Phred Dvorak of The Wall Street Journal report on how inflation is derailing Biden’s climate agenda.

The C3 Take
  • High global prices for oil and natural gas have led to some nations increasing their consumption of coal.
  • Record energy prices have eaten into budgets, deterring consumers and businesses from investing in clean technology upgrades.
  • Good economic policy is good climate policy. By embracing the principles of economic freedom and empowering the private sector, lawmakers can promote solutions that lower costs and lower emissions.

“Seventeen months later, greenhouse gas emissions are up, renewable-power development has slowed, and oil and coal consumption are on the rise. The biggest aspects of the green agenda are stuck in Congress, while Mr. Biden, facing surging energy prices and inflation, urged U.S. oil refiners this week to expand capacity.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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