For all the newly hatched virtue-signaling “climate change warriors”, starting with Greta Thunberg of course, we have just one message: please take your complaints to Beijing (if you dare).
As Goldman’s Chinese economists write, to date, over 120 countries have announced targets to cut greenhouse gas (GHG) emissions and China’s recent commitment “may be one of the most ambitious”, if not most ridiculous. At the United Nations General Assembly last September, President Xi Jingping pledged that China is targeting peak CO2 emissions by 2030 and carbon neutrality by 2060. At the Fifth Plenum of the 19th Party Congress last October, discussions around the 14th Five-Year Plan and China’s long-term goals outlined stabilizing and falling carbon emissions by 2035. Last December, the government issued a white paper titled “China’s energy development in the new era”, and in February 2021, the State Council released the guidance for building a green low-carbon economic system.
While it is clear that China has – at least in theory – begun to lay the ground for achieving net zero emissions over the next four decades, the question is how much of this is just a virtuous smokescreen to shut up critics. In response, Goldman analysts have done extensive work on this topic, modeling the technological paths to net zero sector by sector, from renewable power to electric mobility, and from hydrogen to carbon capture, to we provide a macro perspective and look at the economics of China de-carbonization given the unique challenges it faces and the advantages it has.
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker