The continent’s future and the climate are being sacrificed on the altar of cheap carbon
Over the past five months Western countries have placed a raft of sanctions on Russia, designed to cut the country out of the global financial system and halt its exports.
These increases are driving inflation in the West. The US’s inflation rate is 9.1%, a far cry from 0.6% in June 2020. Growth is slowing across the EU and the inflation rate has climbed to 8.3%. In the UK, the rate is now 9.4%, the highest it has been in 40 years. US President Joe Biden recently visited Saudi Arabia and begged the crown prince, Mohammed bin Salman, to drill more oil. He was told to pound sand
The Netherlands has brought a mothballed coal-fired power station back into service. Austria, Greece, Poland, Germany and the Czech Republic have extended the lifespans of their coal plants. Hungary said no thanks, we’re sticking with Russian oil. Last month, the EU parliament reduced its climate mitigation ambitions. Gas pipeline deals have been struck with Israel, Algeria and Azerbaijan.
To put things into perspective, if we continue emitting greenhouse gases at current levels for the next 14 years, two degrees of global warming is inevitable — a catastrophe of human misery, the Sixth Extinction done and dusted.
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