Green Electricity Costs a Bundle

Trying to showcase climate leadership at the U.N. Climate Summit in Glasgow, President Joe Biden is reaffirming his goal of creating “a carbon pollution-free power sector by 2035 and net-zero emissions economy by no later than 2050.” But that target will be prohibitively expensive. A new Nature study shows that a 95 percent reduction by 2050 — almost within reach of Biden’s net-zero — would cost 11.9 percent of GDP or more than $11,000 for each American every year.

When the COVID pandemic hit, the whole world urgently needed to buy protective gear, oxygen and ventilators. The countries that moved fastest and made the best spending decisions had electronic procurement systems in place. These systems not only help in a crisis but are crucial for reducing corruption and saving governments billions of dollars.

Visiting fellow at the Hoover Institution Bjorn Lomborg joins ‘Kudlow’ to discuss Biden’s radical green agenda amid coal shortage.