How to tackle global warming - and how not to

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.

Top administration officials are fanning out across the U.S. in a victory lap for the new Inflation Reduction Act, which President Biden calls “the most significant legislation in history to tackle the climate crisis.” America, we are told, is a global climate leader again. This narrative has serious problems.

Climate change is clearly an important global issue, but we are tackling it very badly and our overwhelming focus on reducing carbon emissions also distracts us from many of the world's most pressing problems. What makes it so hard to cut emissions is that CO2 is a byproduct of prosperous economies, and replacing cheap fossil fuels with today's mostly expensive and unreliable green alternatives remains incredibly expensive. An analysis for the government of New Zealand recently showed that achieving carbon neutrality by 2050 would cost the nation 16% of GDP.