Authored by Mike Shedlock via MishTalk,
After a brief respite from green new deal nuttiness, ideas are cropping up again, this time from the UK.
The US is the global leader in Green New Deal nuttiness both on the number of advocates and the cost of the proposals.
We have AOC, Elizabeth Warren, Al Gore a a field of Democrat candidates all of whom have their eyes on your pocketbook with schemes to save the world.
For example, please consider AOC's Green New Deal Pricetag of $51 to $93 Trillion vs. Cost of Doing Nothing.
UK Attempt to Catch Up
In the UK, the Labour Party, proposes being completely carbon free by 2030, in little more than 10 years.
Jeremy Warner rips the idea in Labour's Green New Deal? No, Just Puerile, Delusional Nonsense Dressed Up as Industrial Strategy.
Warner asks "Have these people ever been to that great, centrally directed communist utopia China, now adding to the world’s carbon footprint at a rate unprecedented in the history of humanity?"
Labour also wants to spend £250bn on loft insulation, double glazing and renewable, low-carbon technologies in all the UK’s 27 million homes at an average cost of £9,300 per house.
After blasting the absurd nature of those ideas, Warner then offers his own set of nonsensical ideas.
Decarbonization Perfectly Feasible
"Decarbonisation of the UK economy is perfectly feasible, but it has to be done in a market driven way by removing hidden hydrocarbon subsidies and the imposition of revenue neutral carbon taxes, backed by carbon tariffs to prevent rival economies undercutting UK producers," said Warner.
Carbon tariffs on China and carbon taxes on those who utilize carbon will allegedly make decarbonization "perfectly feasible".
In a way, Warner's idea is far worse. This is why:
Whereas few would be stupid enough to actually try to decarbonize by 2030 or spend $51 to $93 trillion to save the world from sure destruction in 10 years, many people would be stupid enough to try Warner's non-market-driven, nonsensical proposal.
Delusional nonsense dressed up indeed.
Fri, 11/08/2019 - 05:00