The BNEF report estimates $7.4 trillion will be spent globally on new green energy projects in coming decades, but another $5.3 trillion will be needed to reach the arbitrary goal.
Lost in the discussion around what’s needed in terms of “green energy” is a critical question: what is to be gained by a two degree global temperature reduction and is there a definitive way to measure it?
Meanwhile, does diverting trillions into such a scientifically questionable effort deprive humans worldwide of more vital necessities?
President Donald Trump announced the United States withdrawal from the Paris climate agreement after recognizing that the U.S. would bear an unfair share of the wealth redistribution to the detriment of its citizens.
This agreement is less about the climate and more about other countries gaining a financial advantage over the United States.”
The biggest beneficiaries would be China and India, both of which are the major contributors to greenhouse gas emissions. Both have no meaningful plans to limit those emissions in the near term.
Much of the green energy development over the next few decades will occur in China and India, according to BNEF. Those countries will see $4 trillion in investments in green energy through 2040.”
Critics of the Trump decision claim the United States will miss out on new green energy business opportunities. The Trump administration makes the point that it doesn’t need to be a party to the Paris accord in order to find new opportunities in renewable energy sources.
Green energy advocates have longer overestimated its impact and continue to push for government subsidies and usage mandates because wind and solar energy projects have proven to not be cost-efficient in the private market.
BNEF projects global carbon dioxide emissions will peak by 2026 and that a $2.8 trillion investment in clean-burning fossil fuels like natural gas will help lower emissions.
The group also predicts wind and solar will make up nearly half of the world’s electricity capacity and generate 34 percent of electricity needs. Currently, they account for less that 5 percent of global electricity.
For decades, we’ve heard the hype about green energy, but the results to date are fairly dismal. Meanwhile, new technologies are helping energy companies to discover and develop vast new reserves of fossil fuels that have made the United States the Saudi Arabia of natural gas.
Source: The Daily Caller
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Guess somebody over there better get off their$#%&!@*and go to work
This is a scam to get money