A Fracking Good Story

One of the most overlooked development success stories right now is that the population without access to electricity has fallen below 1 billion for the first time since records began. New data from the International Energy Agency (IEA) shows that in 2017, 120 million people gained access to electricity, meaning more people today have access to electricity than ever before.

The rich world’s fossil fuel hypocrisy is on full display in its response to the global energy crisis triggered by Russia’s invasion of Ukraine. While the wealthy G7 countries admonish the world’s poor to use only renewables because of climate concerns, Europe and the United States are going begging to Arab nations to expand oil production, Germany is reopening coal power plants and Spain and Italy are ramping up African gas production.

Climate activists and politicians constantly tell us electric cars are cleaner, cheaper, and better. Many countries, including the U.K., Germany, and Japan, will even prohibit the sale of new gas and diesel cars within a decade or two.

But if electric cars are really so good, why do we need to ban the alternatives? And why do we need to subsidize electric cars to the tune of $30 billion per year?