Biden's climate boondoggle hits US middle class

 A.J. Kaufman:

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.
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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.”
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 The Chicken Littles of climate change have a five-decade-long record of failed predictions on the climate from ice-free poles to flooding in coastal cities.  While there may be some slight seasonal warming, I find the current climate pretty nice.  The Earth has a long record of a changing climate long before there was the use of fossil fuels from ice ages to significant warming.

The proposed changes to energy do not look like a reasonable replacement for fossil fuels.  It is pretty clear that alternative energy cannot provide the energy needed for electric vehicles.  California has already demonstrated that it leads to blackouts and orders not to charge electric vehicles.