CNN Analyst Suggests Inflation Is Needed To Achieve Green Agenda

As we have covered in the past here on ZH, the inflation/stagflation crisis is immensely damaging to the average person, with the threat of poverty and food shortages hanging over the majority of the population, but there are some people out there who see the crisis as a boon, specifically for the Green agenda and carbon taxation.

CNN economic analyst Rana Foroohar follows the bizarre line of thinking in an interview with The Ezra Kline Show, suggesting that inflation is needed in order to pave the way for a carbon credit based economy.  She argued:

“…This is something that I think, unfortunately, no politician, particularly the Democrats right now in advance of midterms or a presidential election want to land on, which is some of the transitions to a kinder, gentler, I believe more stable, and ultimately more resilient economy, are going to be inflationary in the short to medium term.

What’s the cost of something if you actually have a real price on carbon, and then you have to tally in how much it costs to tote it over tens of thousands of miles from the South China Seas? What’s the cost if you have proper environmental and labor standards?  …This is the conversation happening right now. And once you start pricing all those costs in, and you start really thinking of the economy in a different way, then yeah, it is certainly is inflationary…”  

Foroohar then called on the U.S. and Europe to “put a price on carbon.”

The analyst follows a relatively new trend among the political left and globalists in seeking to justify the existence of price inflation as a means to an end; the “greater good” being the induction of Green New Deal-style legislation.  

Some propagandists in the media claim that the inflationary crisis is an opportunity, while others try to claim that climate change is the direct cause of inflation, and if we don’t accept carbon taxation then we will continue to suffer under an inflationary collapse.  But we all know what the game is here:  To use public fears of financial disaster to lure people into accepting authoritarian environmentalism because “Prices are already high anyway, so why not?”

Even NASA and the NOAA openly admit that average global temperatures have only increased 1 degree Celsius in the past century.  Yes, that’s 1 degree we’re supposed to be terrified of.  Keep in mind that the official temperature record used by climate scientists started in the 1880s, so when the NOAA says that a recent temperature was “the hottest on record,” they are using a scale of a little over a century.  That’s a tiny sliver of time in the vast weather history of the Earth.  

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King Hypocrite Obama to Install Massive 2,500 Gallons Propane Tank for his Seaside Home in Martha’s Vineyard

Hypocrisy at its best!

Instead of installing windmills and solar panels for someone so concerned about global warming, former President Barack Obama has ordered the installation of three massive propane gas tanks, two sized at 1,000 gallons and another one at 500 gallons, at his Martha’s Vineyard estate which sits along the “rising” seashore.

According to a report from The Martha’s Vineyard Times, the office of the select board of Edgartown, Massachusetts approved an application for a 2,500-gallon commercial propane tank for 79 Turkeyland Cove Road in Katama, a property owned by former President Barack Obama and Michelle Obama.

These three propane tanks were to be installed above ground on the Obamas’ property, in contrast with the initial report that it will be buried.

“We’ve never had a private propane tank come to us,” select board member Arthur Smadbeck told the MV Times.

The select board office confirmed to The Daily Caller News Foundation that the tanks are to be used for “residential purposes.”

Filling the massive propane tanks with gas could reportedly cost up to $75,000.

Propane gas is a type of liquefied petroleum gas, and it is mostly produced as a by-product of natural gas processing, per Sharp Energy. It is known for being one of the cleanest burning fuels available and was used as a clean fuel many years before the recent interest in green energy pushed by Democrats including Barack Obama.

Propane is a fossil fuel and is listed as an approved clean alternative fuel under the Clean Air Act of 1990.

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Biden Advisor Says Social Media Should Silence Anyone Who Criticises Green Energy “Transition”

One of Joe Biden’s senior advisors told a reporter this week that social media companies should be cracking down on and censoring anyone who speeds information critical of the administration’s so called ‘green energy transition’.

National climate advisor Gina McCarthy made the comments in an interview with a reporter for Axios, stating “Now it’s not so much denying the problem. What the [fossil fuel] industry is now doing is seeding doubt about the costs associated with [green energy] and whether they work or not.”

She continued, “We need the tech companies to really jump in,” on “disinformation,” noting that criticising a green energy transition upheaval is “equally dangerous to denial,” and adding “we have to move fast.”

The Axios interviewer just nodded in agreement without any pushback.

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‘Squad’ Dems spend thousands on airfare while demanding others go ‘green’

Democratic members of the House who pushed “Green New Deal” reforms to overhaul the energy sector spent roughly $13,000 in tax dollars combined on airfare, according to the latest House disbursement records reviewed by The Daily Caller News Foundation.

Reps. Alexandria Ocasio-Cortez of New York, Jamaal Bowman of New York, Rashida Tlaib of Michigan, Ilhan Omar of Minnesota, Ayanna Pressley of Massachusetts and Cori Bush of Missouri expensed the “airfare commercial transport” charges between October 2021 and March 2022, according to the records. The new disbursements are intended to be for the months of January and March 2022, and one ethics expert familiar with the situation said lawmakers often report transactions late.

These same members, who are often referred to as the “Squad,” have emphasized that “climate change” is an “existential” or “emergency” crisis.

The “Squad” members notably co-sponsored a bill introduced by Ocasio-Cortez in 2021 calling for the creation of a “Green New Deal.” The bill, which was roundly opposed by Republicans and many Democrats, allocated $8.1 billion to a “climate corps,” among other proposals.

Carbon dioxide emissions from flying are said to increase pollution, according to a study by the left-wing think tank Brookings Institution. Ocasio-Cortez’s Green New Deal resolution in 2019 sought to overhaul “transportation systems in the United States to eliminate pollution and 19 greenhouse gas emissions from the transportation sector as much as is technologically feasible.”

“The hypocrisy of the Green New Deal crowd is endless,” Myron Ebell, director of the Center for Energy and Environment at the Competitive Enterprise Institute, told TheDCNF. “They seem to view themselves as part of an elite that is exempt from the energy poverty policies they pursue.”

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Biden’s “Incredible Transition”: High Gas Prices, Supply Shortages Part Of Plan To Unleash Green Economy

As Americans bear the brunt of a sagging economy, the Biden administration appears to be  framing this as a good thing, believing that citizens will be better off in the future if current supply shortages and high gas prices spiral out of control.

The United States, according to President Joe Biden, is in the midst of an “incredible transition”—one that will pave the way for a green economy.

While the administration may tout the benefits of a sustainable future, the question remains as to what will happen to average Americans while this “transition” takes place.

More importantly, what’s the endgame of all this that Americans don’t know about?

Biden, during a May 23 joint press conference in Japan with the country’s Prime Minister Kishida Fumio, used the word “transition” to seemingly admit that soaring gasoline prices are just part of his administration’s overall plan for moving from hydrocarbons to renewables.

“When it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said.

The comment seems to suggest that ensuring the country’s gas supply is not high on Biden’s agenda, though the administration did announce to release of 1 million barrels of crude oil a day for six months between May and August.

Biden’s remarks angered some Republican lawmakers, including Rep. Elise Stefanik (R-N.Y.) said the president is “painfully out-of-touch.”

“The pain at the pump every #NY21 family feels is a direct result of Joe Biden and House Democrats’ Far-Left agenda,” Stefanik wrote on Twitter.

Sen. Rick Scott (R-Fla.) also took exception, writing on Twitter, “the only ‘incredible transition’ we want from Joe Biden is his transition to retirement.”

“Every family in America is paying record-breaking high gas prices thanks to @JoeBiden’s war on American energy—but the president doesn’t care,” Scott added.

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How the U.S. Paid for Putin’s War on Ukraine

Did the US inadvertently finance Putin’s war on Ukraine with short-sighted, politically motivated, and irrational energy and climate policies? And did those failed policies fuel inflation to the obscene rate of 7.87%? Were the geopolitical consequences and the enormous economic costs of those policies predictable and avoidable? The short answers are yes, yes, and yes. Anyone in the Biden Administration could have “done the math” and seen how rising energy prices would continue to fill Putin’s coffers, funding his military build-up, and contribute to runaway inflation here at home.

The oil and gas industry is the cornerstone of the US economy and will continue to be for years to come. Crude oil and natural gas prices impact not only the price of gas at the pump but virtually everything we buy. Petroleum is an ingredient in all types of consumer goods, which are then transported using ships, planes, trains, and trucks fueled with petroleum products. Natural gas powers over 40% of our electrical grid, heats our homes, and is a substantial component in the cost of manufacturing almost everything.

Crude oil and natural gas prices also impact the economic health and behavior of global adversaries like Russia and China. Russia is one of the top three largest oil and natural gas producers in the world. According to the Russian Ministry of Finance, oil and natural gas export revenues constituted 36% of their total federal revenues in 2021. That amounts to over 9 trillion rubles or $121 billion in 2021 alone. Russia sold 48% of its oil and 72% of its natural gas production to European countries.

By contrast, in 2021, America bought only 1% of Russia’s crude oil and none of their natural gas in 2021. 1% doesn’t sound like much but it does amount to 245 million barrels and over $16 billion in revenue to Russia (@$65/barrel average). But our imports of Russian crude are only a small part of the story.

The real story of how Putin financed his war on Ukraine is about the rapidly rising price of crude oil and natural gas over the past several years. If the market price of oil and natural gas had remained relatively stable, Russia would only have made modest profits on its fossil fuel exports. As prices rose, Putin began making a killing and is using those windfalls to build and maintain his war machine.

Russia’s total cost (excluding taxes) of crude oil production is estimated to be between $32 and $44 per barrel. In 2019, the average price for crude was about $60 per barrel. Assuming a production cost of say $40 per barrel, Russia earned a profit of $20 per barrel. But when the average price reached $100 per barrel, their profits triple to $60 per barrel. For reference, Russia’s baseline oil production rose to 11.5 million barrels per day in 2021 and they exported 4.7 million barrels per day.

This translates to a total of 1.7 billion barrels exported in 2021 alone (4.7 x 365). A reasonable crude oil price of $60 per barrel and a profit of $20 per barrel nets Russia $34 billion per year. When crude is over $100 as it is today, Russia makes $60 a barrel and a whopping $102 billion per year! That’s a $68 billion windfall ($102-$34), simply because the US allowed the market price of crude to become artificially and unnecessarily high.

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