As Rupert Darwhal of RealClearEnergy writes, the new “carbon-neutrality-by-2050” mandates instituted almost “blindly” by governments (UK, EU) don’t consider the real costs.
- New Zealand is one of the only governments to take a sober look at what 2050 carbon neutrality would actually look like (would reduce GDP by 16.8%, would put the price of carbon up to $560 per metric ton).
- Reliance on wind (as pledged by the UK’s Johnson) makes a country more susceptible to blackouts.
- Market inefficiencies arise from governments buying up wind contracts.
Read the full article here.