How Global Wars and Sanctions Are Hobbling Climate Action

How Global Wars and Sanctions Are Hobbling Climate Action

Postby Oscar » Fri May 17, 2024 11:18 am

How Global Wars and Sanctions Are Hobbling Climate Action

[ https://thetyee.ca/Analysis/2024/05/17/ ... ign=170524 ]

Europe was poised to lead on green energy. Then Putin attacked Ukraine. An excerpt from ‘A Map of the New Normal.’

Jeff Rubin - May 17, 2024 - The Tyee

Jeff Rubin is an award-winning author and former chief economist at CIBC World Markets. His latest book is A Map of the New Normal: How Inflation, War and Sanctions Will Change Your World Forever.

Navigator of upheaval: bestselling economist Jeff Rubin, former chief strategist at CIBC World Markets, speaks at Capilano University on May 27.

[Editor’s note: Canadian economist and author Jeff Rubin has written five noted books exposing the tumultuous fragility of globalization and our energy future. An excerpt of his just-published latest, ‘A Map of the New Normal: How Inflation, War and Sanctions Will Change Your World Forever,’ is adapted here. Tyee editor David Beers will interview Rubin on May 27 at 7:30 p.m. at Capilano University.]


EXCERPT: "How has the sanctions war waged by the United States and its NATO allies against Russia and China impacted global efforts to halt the relentless rise in greenhouse gas emissions into a dangerously warming atmosphere?

Sanctions (and other forms of economic warfare like sabotaged pipelines) have triggered massive shifts in European energy consumption as countries have scrambled to find alternatives for Russian oil, gas and coal. And billions of dollars of new investment in fossil fuel infrastructure, like the liquefied natural gas terminals being hastily constructed in Europe, will lock in those tectonic changes in energy supply for decades to come.

Instead of billions of euros being invested in new green energy projects as EU governments promised this decade, governments across Europe are instead investing billions of euros in new infrastructure that will commit their economies to the use of fossil fuels for the foreseeable future. . . .

In the face of a continually warming planet, will the United States and its EU allies dial back their world-leading emission reduction targets for fear of compromising their national security? Or as raging forest fires, devastating droughts and disastrous flooding become the new normal, are the U.S. and its EU allies prepared to allow their adversaries to dominate tomorrow’s clean energy markets even more then they dominate today’s fossil fuel markets?

We will see. But right now, amidst today’s global economic warfare, action to mitigate global climate change will just have to wait."

More: [ https://thetyee.ca/Analysis/2024/05/17/ ... ign=170524 ]
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