America tried to save the planet and forgot to save itself
What $20 trillion in green spending actually bought: deindustrialization, higher prices, political backlash — and a much more powerful China.
What $20 trillion in green spending actually bought: deindustrialization, higher prices, political backlash — and a much more powerful China.
(The Blaze) - Let’s face it: $20 trillion is a lot of money.
One would expect a big bang to follow the spending of 20,000 billion dollars. It’s a lot of money! In fact, it’s pretty much the total present value of America’s GDP.
The American economy sent trillions to our south and east — putting America second, hollowing out the American middle class, and neutralizing the American dream.
This is the total amount spent globally — largely by Europe and the United States — in a coordinated effort by the developed world to decarbonize the global economy. China, in contrast, sold windmills and solar panels worldwide while opening a new coal-fired power plant every month.
What was the net effect of this “Green” Marshall Plan? Hydrocarbon consumption continued to increase anyway. All that was achieved was a tiny reduction, just 2%, in the share of overall energy supplied by hydrocarbons. Put simply, as the energy pie got bigger and all forms of energy supply increased, hydrocarbons ended up with a slightly smaller share of a larger…
It's time to put America First!