Climate Hope; Thanks to Putin, Powell and Biden
Could it be? Really? Somehow, after Covid and the fiscal and monetary stimulus of gargantuan proportions that it engendered, somehow, after a very hard fought and effective push back by fossil fuel interests, somehow, after every US citizen bought a large ICE truck with a 6 or 7 year loan, FINALLY, the gods have conspired to bring to realization every wishful prescription necessary for an extremely sharp decrease in consuming, and a rapid transition away from, Fossil Fuels.
1) Very high global pricing for Fossil Fuels. ( a little politically difficult to engineer).
2) Much higher interest rates to suppress global GDP which is very highly correlated with Co2 emissions. When was the last time anyone argued FOR lowered economic growth? My main man Powell!
3) Heavily processed foods and livestock shrinking its footprint and market share (never have gotten that one legislated) .
3) And finally, a really BIG stimulus, tax credits, grants, low cost loans etc for renewables, infrastructure, research et al. The Inflation Reduction Act of 2022. (Can't wait to get my new F 150)
Spectacularly all these prescriptions are currently in place along with, most importantly, a consumer that is about to curtail spending rather dramatically if they haven't already. See Europe and the rest of the world.
So yeah, weirdly I m feeling pretty good about the future for a change.