Rishi Sunak’s U-Turn on Net Zero is politically expedient, but raises serious long-term questions about the investibility of the UK economy and its place in the world, but… hey, it might just win them some votes (just don’t let your kids know!)
Markets are focused on the immediate debt-ceiling crisis, and the short-term game of guessing rates vs inflation. Down the line are the bigger challenges of the medium and long-term: issues we need to be investing in now to garner long-run returns or just to survive!
Wind power is the not the renewable energy panacea we are told it is. It is part of the climate change solution, but we need to understand it’s limitations, and not allow it to distort energy transition. More should be spent on alternatives like tide, hydro and thermal.
Energy and Food Security are intricately linked – and constitute the biggest and most immediate “no-see-um” threat markets have faced in decades. It’s time to get real about addressing energy transition and security, and climate change by accepting Nuclear energy is the most viable solution in the time left us.
Markets and Politicians share many common traits – they over enthuse on the upside and fail to grasp hidden costs and dangers. The Morning Porridge is resolutely in favour of climate change mitigation, but the current headlong plunge into renewable energies and lithium batteries has the potential to end up an environmental and market disaster.
Climate Change and Energy Transition is one of the great challenges to capitalism and market economies – but there is no reason to fear it. Its complex, but infinitely solvable. The technologies exist to achieve carbon neutrality by 2050 at a cost far less than doomsters fear.
The International Energy Authority (IEA) is grabbing all the climate change headlines with its demands for Carbon Zero by 2050 and increased spending on renewable energy. The IEA now represents the consensus – the received wisdom. How achievable are their targets? Or will economic reality and rising costs of climate abatement result in something very different? It’s easy to demand neutrality – but will be frighteningly difficult to achieve.
New York Times: 2020 was the joint-hottest year on record (with 2016). Stark headlines remind us of the urgent need to address climate change.
Blain’s Morning Porridge – 5th January 2021: When Green Goes Mouldy “Flash, I love you, but we’ve only got 15…
“I could be a lawyer with strategems and ruses, I could be a doctor with poultices and bruises” Global Coronavirus…