Staggering Price Tag, Logistical Hurdles Make Biden’s Climate Agenda A ‘Fool’s Errand,’ Report Says
It would cost nearly $50 trillion and require a massive shift in the makeup of the U.S. workforce for the economy to hit President Joe Biden’s goal of an economy that produces net-zero carbon emissions by 2050, according to a study by The Global Warming Policy Foundation released Thursday.
To account for rising transport and heating demand in addition to typical increases in demand for electricity, the U.S. electrical grid would need to grow about 60%, renewables would need to provide four times the level they do currently and a skilled workforce of roughly 3 million people would need to be developed rapidly and maintained until 2050, according to the study. The cost to modify the electric grid in this way would be roughly $12 trillion, while the cost to fully electrify homes and eliminate heating sources like natural gas would cost roughly $35 trillion, even when accounting for methods to limit costs like improved insulation in U.S. housing.
“With extra costs comfortably in excess of $35 trillion, a dedicated and skilled workforce comparable to that of the education sector, and key strategic materials demanded at many times the supply rates that prevail today, and all for no measurable attributable change in the global climate, the mitigation of climate change via a net-zero emissions USA economy in 2050 is an extremely difficult ask,” writes author Michael Kelly. “Without a command economy, the target will certainly not be met.”
Biden has made setting plans for the U.S. to achieve a net zero economy by 2050 a key pillar of his climate policy, a goal shared by the government of the European Union. A global net-zero transition would require a worldwide investment of roughly $5 trillion per year, according to a 2021 report by the International Energy Agency.
The U.S. government would also face the social challenge of convincing the public that the investment, which comes to roughly $300,000 per household, would be worth the “disturbance to everyday lifestyles” that electrical retrofits would incur, according to the study. Additionally, the U.S. government would face the challenge of convincing other nations to also strive for the goal, or the purported climate benefits would not materialize, particularly difficult since developing regions lack the capital to make these investments without assistance from the U.S. or Europe.
As opposed to trying to prevent climate change outright, it may be easier for governments to secure funding and social support for projects that help humans adapt to a changing climate, according to Kelly.
“It’s clear that no country has the manpower, the materials, or the money to deliver Net Zero. It cannot be attempted without establishing a command economy, and even then it would fail,” Kelly concluded.”This is a fool’s errand.”
The White House did not immediately respond to a Daily Caller News Foundation request for comment.
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The whole Climate change and “net zero” economy is nothing but a hoax. We watched after 20 years of Europe’s “Green New Deal” policies shutting down their nuclear and coal fired plants that they became totally dependent on Russian gas and oil. Trump warned them and they ignored him. The biggest irony is that if we had continued with our energy independence and growing surplus we could be supplying Europe with gas and oil instead of Russia. That it has all been a scam should be obvious to everyone as Europe’s inflation is now worse than the U.S. and their electricity costs have risen !000% in some places and businesses are having to close down because they can’t afford their utilities. Now they threaten to fine and jail their own citizens for turning up the heat too high.
What’s even more bizarre is that Joe Biden and the Democrats gleefully passed their laughably called “Inflation Reduction Act” which actually will increase inflation and is nothing but a 730 billion dollar Green New Deal slush fund for their Democrat donors and pet projects. This while California and four other states want to ban gas vehicles by 2030 yet they can’t even keep the electricity on long enough to charge the electric vehicles they already have and want people to turn their thermostats up over 78 degrees in a heat wave. Not to mention that almost all the solar panels manufactured come from China and that they are laughing and building coal fired plants as fast as they can (1140 so far) knowing that our policies will make them rich. And windmills are an environmental disaster that don’t work when the winds not blowing and can freeze up in cold weather. It’s so ridiculous and completely avoidable, especially when we have enough abundant energy to power the whole country for 500 years.
Wake up America. Unless you vote these useless communist ideologues out of office you will deserve the dystopian, universally poor, dangerous, lawless, racist, society that you will leave to your children and grandchildren.