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This means that the world spent $60 billion more on energy than was needed.The poorest 30 percent of the U.S. population spend almost 17 percent of their after-tax income on gasoline.Similarly, environmentalists boast that households in the United Kingdom have reduced their electricity consumption by almost 10 percent since 2005 . But they neglect to mention that this reflects a 50 percent increase in electricity prices, mostly to pay for an increase in the share of renewables from 1.8 percent to 4.6 percent. Over the past five years, heating a U.K. home has become 63 percent more expensive, while real wages have declined.In Germany, where green subsidies will cost $32.5 billion this year, household electricity prices have increased by 80 percent since 2000, causing 6.9 million households to live in energy poverty. In Greece, where tax hikes on oil have driven up heating costs by 48 percent, more and more Athenians are cutting down park trees, causing air pollution from wood burning to triple.But climate policies carry an even larger cost in the developing world, where 3 billion people lack access to cheap and plentiful energy, perpetuating their poverty. In 1971, 40 percent of China's energy came from renewables.
Making the most out of every dollar spent on development
Truth is the first casualty of global warming
The hypocritical ‘no-growth’
prescription for misery
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