- Peter Francis Fenwick
The Inevitable Recession from Bad Energy Policy
The objective to provide reliable, low cost, low emission energy is fraught.
We must choose our priorities. All three cannot be optimised simultaneously.
Only coal and nuclear can provide the base load necessary to supply our electricity needs for households and businesses. Our government policies must permit this to happen.
There is increasing evidence that the dangers of global warming have been exaggerated. The public is starting to understand this and is concerned that climate change policies are ineffective and come at an unacceptable cost to our standard of living.
With USA pulling out of the Paris Agreement, none of the four major emitters of carbon – USA, China, India and Russia – is committed to reducing emissions before 2030. Our minuscule efforts will put an unbearable burden on our economy, closing industries and putting hundreds out of work.
If we are to avoid a recession then we must defer the reduction of carbon emissions for the present.
Moreover, business must be reassured that the investments they make in energy production will not be adversely impacted by subsequent government intervention.