The High Cost of Green

The World Bank’s self-proclaimed “new course” towards focusing on global warming over poverty reduction is an alarming development for the planet’s poorest.

The planet’s biggest provider of non-private financing to developing countries will increase climate-related aid by one-third, meaning that by 2020 these efforts will amount to about $US29 billion ($38bn) a year. Every single dollar that the World Bank spends will “take account of climate change”.

2013-03-26 We've been tackling global warming badly for 20 years. And for a very simple reason: because we essentially try to tell people, "Could you please stop with all that fossil-fuel stuff?" The problem, of course, is fossil fuels are what power pretty much everything we like about civilization. We're not burning fossil fuels to annoy Al Gore. We're burning them because it makes us rich. Trying to tell people not to do that is a hard sell. (...) 

President Biden enthusiastically describes his administration's new Inflation Reduction Act as "the most significant legislation in history to tackle the climate crisis." Curiously though, neither officials nor media praising the IRA are stating the actual climate impact of spending $369 billion on the bill's climate provisions.

Copenhagen Consensus president Bjorn Lomborg explains the impact of the Democrats' spending bill on the environment on 'Kudlow.'