Everyone has a shocked face right now, right? (via Not A Lot Of People Know That)
Net zero is driving up energy prices, admits Bank of England official
Net zero policies are sharply driving up energy costs, the Bank of England has admitted, as officials battle to bring living costs back under control.
Sarah Breeden, the Bank’s deputy governor, said households and businesses were paying more for energy because of so-called carbon permits, which require power plants to pay for each tonne of carbon dioxide they emit.
These permits accounted for nearly half the cost of fuel bought by gas-fired power plants last year, Ms Breeden said, which was passed on to consumers.
“There is now evidence that policies aimed at the climate transition were probably more important contributors to the recent rise and fall in inflation than we previously thought,” the deputy governor said in a speech at the University of Edinburgh Business School.
I mean, we all saw this coming, right? Non-cult members have been saying for the longest time that implementing all these crazy policies would increase the cost of energy, which means that the cost of everything else will go up. The road to hell is paved with good intentions. But, are they good intentions? Because the Elites who are making these policies sure do not act like ‘climate change’ is a problem in their own lives.
It has become a MANTRA I truly believe I started 10-15 years ago commenting on other blogs.
Corporations don’t pay taxes….they just jack up the prices.
The number one fueler of raising costs in any country is the GOVERNMENT.
regulations…..drive up prices.
Taxes……….Drive up prices.
inefficiency…Drive up prices.
lack of accountability….drive up prices.
Raising bonds to pay for something….drives up prices.
Incoming administrations….raising or lowering tax rates….drives up prices.
too much spending drives up prices.
I mean on and on it goes. These same things can be said of Corporations….As they respond to all of the above…prices go up. When one corporation charges another corporation for their own greed…the only ones who suffer are the consumer.
We can as a society have all the benefits we have now, just more streamlined, more efficient and wth less waste, fraud and abuse driving down the debt and reducing inflation…
Government spending is INFLATIONARY and the last 10-12 years we have lost our collective minds…..GOP and DEMOCRATS on spending.
Its time to pay the piper.
Our distinguished host quoted:
Gee, if only there had been people who warned them that this would happen.
Someone, somehow, has to pay for the negative externalities resulting from burning fossil fuels. Duh. So far, society has paid. The air and water pollution, health effects, floods, wildfires, hurricanes, heat waves, migration… the deaths, have been absorbed by society – your taxes, your insurance premiums…
Fossil fuels have ‘privilege’ much like tobacco had. Society paid and pays the price for the unintended consequences of tobacco use – cancer, lung disease, cardiovascular disease, fires… deaths.
We fully understand that the MAGA science denier cult is forced to deny the obvious. It will only get worse. Eventually, reality will force you to accept the truth. You used to deny it was warming, but you finally were forced to acknowledge that the Earth was warming. You denied that CO2 could cause warming. You still deny that the massive increase in atmospheric and surface energy has any effect on human societies! Peoples in Florida, Louisiana, California, North and South Carolina, Texas and all over the world are beginning to re-calibrate their denial. The drought in Panama is screwing with Gatún Lake and the canal.