The Costs of Government ‘Net Zero’ Commitments Are Much Higher Than Claimed by Alarmists Pushing Them
By
H. Sterling Burnett -
January 26, 2022 0
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An article in The National Pulse discusses a recent study which shows the enormous economic costs that would be imposed to hit net zero carbon dioxide emission commitments by 2050, as proposed by several national governments and endorsed by the United Nations. The costs are far higher than claimed by climate activists. The study shows every sector of the economy and probably every person’s life would be effected to some degree or another. Yet the transition would likely fail to prevent temperatures from rising by 1.5℃.
The National Pulse article titled, “2050 ‘Net Zero’ Climate Target Will Cost $275 TRILLION; More Than U.S. Govt Currently Spends Per Day,” discusses the findings contained in report from management consulting company McKinsey & Company (McKinsey). Mckinsey’s report titled, “The Net Zero Transition,” provided a detailed analysis of the costs of the economic transition necessary to hit net zero by 2050.
According to the report, the economic cost as the transition are a staggering $275 trillion by 2050, or approximately $30 billion per day for the next 25 years. In an almost laughable degree of understatement, the McKinsey reports writes, “our estimates of the annual spending on physical assets for a net-zero transition exceed to a meaningful degree the $3 trillion–$4.5 trillion total spending estimates that previous analyses have produced.”
As high as these figures are, McKinsey doesn’t claim its analysis is comprehensive.
https://climaterealism.com/2022/01/the-costs-of-government-net-zero-commitments-are-much-higher-than-claimed-by-alarmists-pushing-them/
