According to WSJ, the made-for-camera moment happened at a global climate summit in July, when there were no cameras around, when Kerry was handed what the paper described as “a bill” for aiding the developing world in its shift away from fossil fuels – enough to achieve the “green energy” to protect them, and the world, from Global Warming.
The figure: $750 billion. The number was “met with silence [Kerry] according to Zaheer Fakir, an adviser to Creecy [South African Environment Minister Barbara Creecy]” and Kerry wasn’t the only western official in the room wearing a long face.
Of course, that’s not even anywhere close to the real number. As Bank of America’s analysts have already explained, there’s a $150 trillion backing the global climate crusade via its most effective capitalist soldiers: the ESG-focused companies and investors who are raising trillions of dollars to “fix” this problem.
Yet, the most sober-minded analysts still believe that the cost of actually coming anywhere close to meeting the West’s commitments will spark levels of inflation that many American consumers (if you asked them) probably wouldn’t be too comfortable.