A ‘Green Leap Forward’ in China? What a Load of Biomass
Excitement crackled through the environmental movement when China’s National Energy Administration announced last month that the country will spend at least $360 billion on green energy through 2020. Green elites are now toasting the communist country: While President Trump threatens to end costly climate policies, Chinese President Xi Jinping promises his nation will continue to fight climate change.
It’s an interesting narrative, but the facts tell a different story. China’s announced investment works out to around $72 billion a year, much less than the $103 billion the country spent in 2015. When China’s high growth rate is factored in, the green spending appears even less impressive.