The green agenda’s role in global inflation
By
Ben Pile
-
May 24, 2022
AS inflation rises and the prospects for our return to normality following the pandemic fade ever more into the distant future, criticism is rightly focusing on financial institutions and regulators. They claim that printing money, which has inevitably caused prices to rise, was necessary to mitigate the economic chaos of lockdowns. But now they appear to be behind a third act of immense self-harm to help to steer the world to inflation and deliberately prevent economic recovery. The rise in energy prices the world has seen were not the result of an unforeseeable supply crisis, but engineered by those charged with managing the economy.
In a recent interview, Bank of England Governor Andrew Bailey admitted to Sky News his discomfort at the UK rate of inflation heading towards 10 per cent. ‘We are being struck by historically large shocks,’ explained Bailey, removing himself and his organisation from the spotlight. ‘Who of us thought there would be a war in Europe of the sort that we’re seeing?’ he asked rhetorically.
As it happens, many people have been predicting such a conflict. Analysts, be they critics of Nato or Moscow, have long and for different reasons warned that Ukraine risks becoming the point of renewed east-west tension, and many Ukrainians themselves have spoken about the grim inevitability of war, at least since 2014. But this article is about energy and climate policy, not war. I raise the issue here because, like me, you might have expected the Governor of the Bank of England to have kept a watching brief on geopolitics.
https://www.conservativewoman.co.uk/the-green-agendas-role-in-global-inflation/
