News & Politics

Surprised? Biden’s New Climate Plan Helps Rich, Hurts Everyone Else

Erin Schaff/The New York Times via AP, Pool

The COP26 climate summit — held without the worst offenders — is finally over. And at the end of two long weeks, some of the plans reward elites.

A conglomeration of nearly 500 financial firms pledged to fund $130 trillion toward the transition to “net-zero“ emissions during the conference.

The massive pledge is over 135% of the world’s gross domestic product for this year, the Wall Street Journal reported Thursday. But it hurts middle-class communities and Americans already struggling with inflation and surging gas prices.

The demand for renewable energy has grown with government-backed mandates pushing the switch to so-called clean energy; however, private financial groups funding the switch will ultimately reap the financial rewards.

Meanwhile, the rapid change to renewable energy will raise labor costs and utility prices for everyday Americans and their businesses, in part because the power grid will become less stable during the transition.

OPEC’s monthly report released this week expects global demand for oil to grow by almost 6 million barrels a day this year. The WSJ reported that OPEC also believes that demand for oil in 2022 will exceed pre-pandemic levels, with demand projected to jump to 100 barrels per day, up roughly a half-million barrels compared to 2019.

The Biden administration already announced new regulations that aim to “reduce emissions” in the U.S. They claim that these regulations can reduce the country’s methane emissions by 41 million tons between 2023 and 2035. Many of these predictions have been wrong for a half-century, but now they’re truly hurting people, leading to $5 per gallon gas, and messing with energy, the backbone of all production and supply in America.

Related: Tens of Thousands Jet to Big Climate Summit

The draft agreement created at the “COP26 summit” has already come under fire from never-happy environmental groups — encouraged to be angry by a plutocrat named Barack Obama — who claim, among many grievances, that nations won’t be accountable for their promises. Of course, they won’t; they never are.

Kevin D. Williamson, who attended the endless symposium, explained that “the climate movement has never been able to deal directly with the fact — or even to admit that it is a fact — that its agenda enjoys widespread popular support almost nowhere, being rejected by all but a vanishingly small handful of electorates when costs are included. That is true of the United States, it is true of India, it is true of much of Europe, and it is true of most of the rest of the world.”

Climate lunacy and policy have long been a cultish obsession of the secular and affluent. They can afford it. But maybe they should stop scaring children and focus on real, proven threats.

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