Sadly, the paywall for Bloomberg is pretty strong, much like that at the Wall Street Journal, and Bloomberg rarely gets picked up by Yahoo News, so, can only see a little bit of the screed
$266 Trillion in Climate Spending Is a No-Brainer
Without the investment, the alternative is $2.3 quadrillion in accumulated damage by the end of the century.
Humanity largely agrees climate change is an existential threat to civilization. You can bet global leaders will harrumph as much again at the big United Nations climate confab in Dubai this winter. At the same time, these leaders also lavish roughly four times more on the fossil fuels heating the planet than they spend fighting the existential threat. Maybe our priorities are just a bit skewed?
Unfortunately, though we’ve spent 2023 suffering from one climate-fueled disaster after another amid the hottest 12 months in recorded human history, we’re still not treating this as the emergency it is.
Climate financing might climb to $1.8 trillion this year, the International Energy Agency estimates. That’s still not enough. Adjusted for inflation, it’s almost unchanged. It’s little more than 1% of global GDP.
CPI estimates we’ll need to invest $266 trillion between now and 2050 to limit and adapt to climate change.
That’s the most I can pull beyond the headline and subhead. They want to drag $9.85 trillion from taxpayers for their scam. Let them pay for it on their own if they’re so worried.
An agreement at the COP28 summit to end the production and use of fossil fuels is vital to prevent a global climate catastrophe and stop an unprecedented human rights crisis which threatens the rights of billions of people from escalating, Amnesty International said today.
In a briefing titled, Fatal Fuels, Amnesty International calls for parties at COP28, which starts later this month, to agree to a full, fair, fast and funded phase out of fossil fuels and a human rights compliant transition to renewable power which facilitates access to energy for all.
Have the folks at Amnesty International given up their own use of fossil fuels? How will they travel around the world doing what they think is helping people without them?
Try this link
https://archive.is/20231113140541/https://www.bloomberg.com/opinion/articles/2023-11-13/climate-change-266-trillion-to-fight-global-warming-is-a-no-brainer#xj4y7vzkg
Don’t they do this every year?
Let me write them a check.
266 trillion might cover the theoretical 10,000 square miles of PV panels needed to supply the current US electricity demand. But by the time all the mining, manufacturing, transportation and grid infrastructure is in place (assuming you can cajole enough of gen z to pry themselves away from their phones to be trained and perform the labor, fat chance), you will need at least 30% battery backup capability because, you know, night and clouds are still a thing. So, add another 100 trillion plus another army of nonexistent laborers.
And you’ll need to add at least 5% capacity every year and then replace the whole system every 20 years or so.
As usual, some make believe journalist got together with a second-year engineering student and spent an evening creating an impossible plan for our salvation from a non-problem. Not to mention we’ll still need lots and lots of petroleum do pretty much everything we do with it now plus all that!
So, no, not only is this not happening, ever, we do not have the tech to “just stop oil” and likely will not for a long, long, long time. Please put your signs down, get the hell out of the street and get a job for Christ’s sake.
The GDP of the entire world is $96.51 trillion, which means that the cultists want to spend equivalent of 2.76 entire year’s GDP. Or, put another way, they want to spend 11.46¢ out of every $1.00 of production across the entire world, every year until 2050, on their projects.
Mama Mia! Thatsa lotsa “Big Guys Cuts!”