Anyone awake enough to follow the European energy crisis can see the result of the movement to blame CO2 for global warming, a preposterous theory whose justification is political science, not the laws of physics. Europe’s preoccupation with climate has seen governments in United Kingdom, France and Germany vilify fossil fuels and pretend so-called “renewables” can provide reliable power for citizens and industry. The result is a mess.
By eschewing their own fossil fuel resources and becoming reliant on Russia for natural gas, European countries have seen natural gas prices increase four fold in a year (chart from Scotia iTrade).
Germany, the poster boy for the “renewables” strategy, now has electricity costs five times the level of last year.
World leaders like to blame their current malaise on Russia and the Ukraine War but reality is simpler. They have spent so much political capital attacking the fossil fuel industry that actual capital has fled the space and the world now has a massive chasm in the supply demand balance which resolves itself in very high prices for a prolonged period of time. I believe the imbalance will persist for decades unless left wing leaders abandon their silly theory that CO2 causes “global warming” which it demonstrably cannot, and provide impetus for rapid expansion of oil & gas production to fill the growing energy gap and bring down the surging rate of inflation. They aren’t likely to admit they were so egregiously wrong, so expect the opposite. They will double down on their “climate” agenda with zero chance of changing the weather; raise interest rates to the 1970’s levels of double digits; destroy many lives and livelihoods; and, rely on a deep recession to curb inflation. That will work for a short period, likely timed to the 2024 U.S. election cycle, hoping geriatric Joe Biden will have a shot at keeping power to heap even more damage on society. But unless and until there is a dramatic increase in fossil fuel output, the other side of the recession will be more of the same - left wing polemics devoid of actual progress.
Fortunately, even Ma and Pa Kettle can count and when they can no longer afford to feed their children, heat their homes or fuel their vehicles, they will vote Biden and his ilk into the trash bin of history in American and kick Trudeau out of office in Canada, a good start towards a brighter future. When Brits and Germans are freezing in the dark, they will start to rethink “global warming” and possibly conclude that any warming would be a good thing.
In the meantime, buckle up kiddies. It is going to be rough ride even here in Canada and this winter will be a cold one pretty well everywhere.
What are the minimum things you would suggest one do in order to "buckle up" for what you see ahead? I know that everyone's situation may be a bit different, unique to them, family, no family just the 1 person, living in the city, living in the country, and so on. But there must be some common denominators - across all people - common steps or safeguards - for what you see coming. Can you elaborate on these, in broad strokes? or does such a topic require its own blog post? Thanks for considering the idea!