Al Gore has put a price tag on ending global warming and it is enormous. According to Constitution a group of executives calling themselves the Energy Transition Commission (ETC) want some countries (think USA) to spend up to $600B per year for 20 years on this imaginary problem. They say that an additional $300B to $600B per year does not pose a major macroeconomic challenge to meet the goals of the Paris agreement.
So a major chunk of $12 Trillion over 20 years isn’t a problem for a country that has to borrow a third of their annual budget every year just to keep the country running. This is a country that already has a debt of $20T. They might want to redefine the word “problem.” If their goal is to destroy or weaken the economies of the major industrial countries of the world, this should do the trick.
Al Gore has already gotten filthy rich off of carbon credits and nutty movies. He has another movie about to be released. Now he is a member of ETC and scheming to clean out the treasuries of the world’s major industrial countries. Incidentally, ETC members include energy executives, activist leaders and investment bankers. These are the very people who would no doubt get a piece of the trillions of dollars they are proposing as a solution to the imaginary, impending global warming catastrophe.
Don’t get me wrong. I have nothing against making as much money as possible, but I think that should be done by providing products and services that people want, and not by forcing countries to drain their treasuries in an attempt to solve a global warming problem that doesn’t exist.
With Donald Trump in the White House and congress in the hands of the Republicans, we can only assume that this will go no where for now. Eventually, the progressive, liberal Democrats will be back in power, and if by then we haven’t killed this global warming nonsense and any insane solutions such as the ETC solution, something like this could still happen.