In an extraordinary bit of energy absurdity, the International Energy Agency (IEA) has a new report out detailing its fantasy-based roadmap about how we get to the mythical “Net Zero by 2050” goal. Among other impossibilities in the real world, this new report envisions:
– No new coal plants. China and India combined will likely open half a dozen new coal plants this month.;
– No new capital investment in existing or new oil fields beyond those already approved and committed as of today. This would immediately depress the global economy and throw millions out of jobs;
– Oil demand shrinking by 4% annually thru 2050. Demand for crude will actually rise for at least the next 20 years, and likely longer than that, and there is little that global governments can do about that without resorting to enforcing their ideological agendas at the point of guns.
IEA couches this as a “scientific study.” It is actually an ideology-based roadmap to a global socialism/fascism hybrid modeled along the lines of the governments in Venezuela and many African countries.
This plan would leave billions of human beings trapped in irreversible poverty and squalor. A sane world would universally ridicule and reject it and its authors. Unfortunately, we can likely anticipate that the leftist ideologues in the Biden Administration will praise it and use it as a roadmap to continue their own fantasy-based energy policy initiatives.