Certain awkward questions are starting to be asked about net zero policies—how do you run an economy and feed your people on net zero? From Nicole James at The Epoch Times via zerohedge.com:
Are we observing the early stages of worldwide resistance against the constraints of net zero policies?
Investors are ditching renewable energy faster than any other funds on record.
Reuters reports that renewable energy funds suffered a net outflow of $1.4 billion in the July to September 2023 quarter.
LSEG Lipper data shows this to be the largest-ever quarterly outflow. There was also a 23 percent decline from the end of June of the total assets under management in the sector—now valued at $65.4 billion.
The S&P Global Clean Energy Index (.SPGTCLEN), is also down by 30 percent this year with most of the decline occurring since July. This Index comprises major solar and wind power companies and other renewables-related businesses.
Yet in contrast, the S&P 500 Energy Index (.SPNY), which is oil and gas-heavy, has increased slightly this year.
It is not just investors who are exiting net zero. Politicians are also raising concerns.
Australian Nationals Senator Matt Canavan said net zero has “absolutely carked it.”
His position is that net zero is a “soundbite” and “totally insane.” It is unachievable because people will starve if it is enforced.
“Almost everything we grow, we make, we do in our society relies on the use of fossil fuels,” he said.
Patrick Moore, the co-founder of Greenpeace agrees.
He told Tucker Carlson, “If we banned fossil fuels, agricultural production would collapse in a very short period of time. People will begin to starve … and half the population will die in a very short period of time.”
