By Nick Pope
Daily Caller News Foundation
The world will need to spend nearly $75 trillion by 2050 in order to achieve aggressive international climate change goals, according to a new report from energy consultancy and research firm Wood Mackenzie.
Cumulatively, investments would need to total $75 trillion, or about $2.7 trillion annually, if the world is to meet the 2050 net-zero carbon emission goals set forth by the United Nations (UN) Intergovernmental Panel on Climate Change (IPCC), according to the analysis. Additionally, global oil demand would need to peak in 2023, and it would need to drop to 30 million barrels per day (bpd) from its current level of about 102 million bpd in order to reach the targets established by the IPCC, according to the report.
The UN IPCC asserts that achieving net-zero by 2050 is the best way to keep global temperatures from rising by more than 1.5 degrees Celsius relative to pre-industrial levels, according to its website.
Global energy-related emissions would need to peak in 2023 to achieve global net-zero emissions by 2050, according to the analysis. While the U.S. and Western Europe have embraced expensive efforts to decarbonize their energy sectors, China permitted an average of two new coal plants each week in 2022, according to a report by the Centre for Research on Energy and Clean Air, and the global demand for energy is set to grow by 50% by 2050 relative to 2020 levels, according to the U.S. Energy Information Administration.
The share of global power generated by fossil fuels would need to fall from its current level of about 80% to 20% by 2050 if the net-zero goal is to be achieved, and the West would presumably need to overcompensate to account for the failures of countries in the Middle East, Africa and Southeast Asia to reach net-zero by 2050, according to Wood Mackenzie’s analysis.
The more likely scenario is that the world will not meet the IPCC’s targets, according to Wood Mackenzie’s analysis. In that base case, the governments of the world are projected to still spend about $2 trillion combined each year toward climate goals, even though the IPCC’s targets would be missed.
Beyond these considerable changes and expenditures, about 90% of all new vehicle sales worldwide would need to be electric vehicles (EVs) in order to reach the IPCC’s goal of limiting the total global temperature increase to 1.5 degrees Celsius relative to pre-industrial levels, according to the Wood Mackenzie analysis.
Representatives for the UN IPCC did not respond immediately to the Daily Caller News Foundation’s request for comment.
This story originally was published by the Daily Caller News Foundation.
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IMPORTANT NOTE TO WND READERS: Believe it or not, today’s high priests of climate-change apocalypse are correct in predicting that in just a few short years, the earth will become miserable, wretched and almost uninhabitable by human beings. But the grim future they envision won’t come about because of “catastrophic climate change,” but rather, because of the implementation of their completely insane and truly catastrophic agenda.
As Greenpeace co-founder Dr. Patrick Moore recently admitted, “If they actually achieve Net Zero, at least 50% of the population would die of hunger and disease.” Likewise, writes energy expert and author Alex Epstein: “Today’s proposed policies to rapidly eliminate fossil fuel use would, if fully implemented, have truly apocalyptic consequences – making the world an impoverished, dangerous, and miserable place for most people.”
Question: When the scientific case for global warming apocalypse consists primarily of a 1-degree Celsius rise in temperature over more than 130 years, what explains the obsession with an imminent, climate-caused end of the world?
Although many groups have been drawn into the Climate Change Cult – from the news media (which has warned of climate catastrophe, either global warming or a “new ice age,” for over a century!), to innocent school kids indoctrinated by hysterical leftist teachers, to liberal Democrats who claim “climate change” will destroy the earth in a few years – the REAL villains are the national and global elites who KNOW the apocalyptic global warming religion is just a cruel hoax, but promote and exploit it as a means of accomplishing their ultimate goal: Transforming and ruling the world.
The heart and soul of today’s bizarre, pagan climate-change religion, and the global elites’ strategies for using it to rule all of mankind, is powerfully exposed and illuminated in the September issue of WND’s critically acclaimed monthly Whistleblower magazine, an issue titled “CULT OF THE CLIMATE APOCALYPSE: The elites’ breathtaking strategy for ruling the world.” WHISTLEBLOWER is available in both the popular print edition and a state-of-the-art digital version, either single issues or discounted annual subscriptions.
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