Table of Contents
Tom Olohan
Tom Olohan is a Staff Writer for NewsBusters.
A Bloomberg News columnist claims he found a net-zero “bargain” at the estimated low price of nearly eight times the 2022 US GDP.
Researchers at Bloomberg News reportedly predicted that it will take nearly $200 trillion to get the world to “net-zero,” or eliminating all the carbon emissions from driving cars, flying planes, raising livestock, producing goods or erecting buildings. In an op-ed published on July 5th, Bloomberg Opinion columnist Mark Gongloff had the audacity to call that ungodly price tag a “bargain.” Gongloff stated that the price was necessary to “zero out the world’s carbon emissions by 2050, as many countries have pledged to do, to avoid society-destroying global warming.”
Gongloff’s propaganda piece had a headline that looked like a joke from The Babylon Bee: “$200 Trillion Is Needed to Stop Global Warming. That’s a Bargain.”
For perspective, leftist billionaire and owner of Bloomberg News, Michael Bloomberg has a net worth of $94.5 billion, according to Forbes. The US Federal Budget in 2022 was $6.3 trillion. The 2022 GDP of the United States of America, the richest nation in the world, was over $25 trillion. The US National Debt is now over $32 trillion. According to the World Bank, the GDP of every nation in the world combined is only $101 trillion.
What Gongloff failed to disclose is that his boss, leftist billionaire Michael Bloomberg, is already spending a fortune to harm reliable sources of energy and bring about massive corporate change.
Michael Bloomberg has used and will continue to use his media empire to give ESG scores to thousands of companies, opening up the possibility that they will be named and shamed by climate activists. Bloomberg is also willing to target energy sources directly and lobby state governments on net zero policies. He has spent hundreds of millions of dollars to try and end coal production across the world. Bloomberg recently claimed credit for shutting down a significant number of coal plants, while blocking approval for “34 new gas plants.” Not surprisingly, Gongloff didn’t mention any of this.
To reach the leftist pipe dream of net-zero carbon emissions, humanity would have to pay $200 trillion before 2050 and “the highest spending would have to occur within the next 15 years.” Also, per Gongloff, “This will include governments, businesses and consumers swapping most of the world’s fleet of gas-powered vehicles for electric ones, building charging stations for those vehicles and replacing fossil fuel-powered energy with wind, solar and other renewables, with new grids to connect them all.”
But is this goal even worth pursuing at any cost? According to Hoover Institution Visiting Fellow Bjorn Lomborg, “net-zero” economic policies cause “crippling economic pain,” since they drive up the prices of popular sources of energy while only replacing a fraction of the public demand for electricity and transportation.
Late in the article, Gongloff acknowledged the obvious that this level of spending may be unpopular. No kidding! He writes, “The tricky part of convincing politicians and voters to commit to net-zero is that most of the worst costs of rampant global heating are still decades down the road, while most of the investment to avoid such a disaster needs to happen right away.”
Conservatives are under attack! Contact ABC News (818) 460-7477, CBS News (212) 975-3247 and NBC News (212) 664-6192 and demand they report on Michael Bloomberg’s planet wide push to eliminate coal and make energy more expensive for everyone.
Read more Great Articles at NewsBusters . http://newsbusters.org/
Reprinted from PA Pundits – International
