The EU green hell

Financial Post | Opinion

Limits to growth ideology a self-fulfilling prophecy

The European Union’s utopian scheme of transforming itself into a green energy powerhouse is faltering as its fantasy plan is colliding with reality. As the EU’s economic and financial crisis deepens and unemployment continues to rise, what used to be an almost all-embracing green consensus is beginning to disintegrate.

The spectre of green stagnation, the loss of competitiveness and economic decline has replaced 20 years of collective wishful thinking. The green folly was founded on two apocalyptic fears: firstly, that global warming was an urgent threat that needed to be prevented at all cost, and secondly, that the world was running out of fossil fuels, which meant that oil and gas would inexorably become ever more expensive. Both conjectures, however, turned out to be bogus.

The unpredicted arrest of the global warming trend since 1997 has made clear that the IPCC’s climate models…

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