If you want to see what happens when you implement even some of the Green New Deal's anti-energy policies, look to Europe. This year's cold season will not be pleasant across the pond...
Bloomberg (10/1/21) reports: "European gas surged to a record 100 euros as China stepped up a global fight for energy supplies, in a move that threatens to derail the economic recovery. Prices later retreated. In volatile trading, benchmark futures gained as much 2.3% on Friday before retreating. China ordered its state-owned energy companies to secure supplies for this winter at all costs, according to people familiar with the matter. That will intensify a battle for liquefied natural gas and coal cargoes just as flows into Germany via a key Russian pipeline tumbled. Energy prices are rising from the U.S. to Europe and Asia as the economy recovers from the global pandemic and people return to the offices. Europe is struggling to secure enough gas and coal ahead of the winter, with rising prices forcing some of industrial giants from fertilizer producers CF Industries to Yara International ASA and chemicals giant BASF SE to shut plants or curtail output...European storage sites are just under 75% full, the lowest level for this time of year in more than a decade. Inventory withdrawals typically start by the end of the month, depending on the weather."
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"Cutting fossil fuels as quickly as some environmentalists want will be tremendously difficult. In 2020 pandemic lockdowns forced the world to cut carbon emissions significantly. But to fulfill the Paris climate accords completely, the United Nations says that global emissions would have to plunge even further every year for the rest of the decade."
– Bjorn Lomborg,
Copenhagen Consensus
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