Gambling the World Economy on Climate

Over the past decade, the global elite’s obsession with climate change has taken away from the many other major problems facing the planet — shown most dramatically by the invasion of Ukraine. Western European leaders should have spent the past decade diversifying energy sources and expanding shale gas, instead of shutting down nuclear plants and becoming scarily reliant on Russia. But the looming war is far from the only thing they have managed to ignore.

If you listen to the media, a green automotive future has arrived and a tsunami of electric cars is out­selling petrol and diesel around the world, transforming the planet and solving climate change.

We need a reality check. Battery-powered electric vehicles are fairly popular in urban China and California, as well as a few countries that heavily subsidise their drivers. But globally, fewer than 0.3 per cent of all cars are pure electric, and across Europe, BMW says, customers don’t want them.

2014-02-14 FORT LAUDERDALE – At the World Economic Forum’s annual meeting in Davos last month, leading participants called for a rapid shift to cleaner energy to tackle climate change. There is something unsettling about the global power elite jetting into an exclusive Swiss ski resort and telling the rest of the world to stop using fossil fuels. (...)