More Reasons For Cautious Optimism About The Demise Of The Green Energy Fantasy
December 23, 2024/ Francis Menton
My post on Saturday noted one big reason for optimism that the green energy fantasy is coming to the end of its run: the first country, Germany, has apparently begun to hit the green energy “wall.” Although Germany has never consistently reached even 50% of its electricity production from wind and solar, its ability to continue its green energy dreams has stalled: its electricity prices have soared, its manufacturing sector has been seriously undermined, its economy is in recession, and recently its green-promoting government has fallen. Its failed example now stands for others to see and avoid.
And as I look around at developments since the election, I see a number of other reasons to reinforce my cautious optimism. Maybe it’s that the political environment has changed, and maybe it’s that some people are starting to recognize that you can’t beat the laws of physics; and maybe it’s some of both. Here are examples:
Banks and investment firms quitting net zero “alliances”
On Saturday’s post, commenter William Bell asked “Who, exactly, is preventing third-world inhabitants from using wood, charcoal, coal, petroleum derivatives, and/or natural gas for fuel and by what means?” Apparently Mr. Bell, and maybe many others, is unaware of the many “alliances” of banks and investors seeking to starve fossil fuels of investment capital, and thus prevent third-world countries (and everybody else) from continuing to use them. Most of these groups are somehow directed and overseen by the UN. Examples of these groups include the Net Zero Banking Alliance (“Bank-led, UN-convened”), the Net Zero Asset Managers Initiative, and Climate Action 100+. I’m sure that I have not got them all. The members are, or have been, a who’s who of all the biggest banks and investment firms in the world.
https://www.manhattancontrarian.com/blog/2024-12-23-more-reasons-for-cautious-optimism-about-the-demise-of-the-green-energy-fantasy
