Consider the source. Then, consider the cost.
The source is the New York Times, hardly infected with climate-change denial.
Today, it reports prominently that Europeans have been reconsidering their environmentalism. It turns out that the fight against global warming is very expensive. It’s very expensive for business, but who cares about that. But, it’s also very expensive for consumers.
The result, as reported by the Times:
For years, Europe has tried to set the global standard for climate-change regulation, creating tough rules on emissions, mandating more use of renewable energy sources and arguably sacrificing some economic growth in the name of saving the planet.
But now even Europe seems to be hitting its environmentalist limits.
High energy costs, declining industrial competitiveness and a recognition that the economy is unlikely to rebound strongly any time soon are leading policy makers to begin easing up in their drive for more aggressive climate regulation.
On Wednesday, the European Union proposed an end to binding national targets for renewable energy production after 2020. Instead, it substituted an overall European goal that is likely to be much harder to enforce.
It also decided against proposing laws on environmental damage and safety during the extraction of shale gas by a controversial drilling process known as fracking. It opted instead for a series of minimum principles it said it would monitor.
It turns out that renewable energy sources are not cost efficient. For environmentally-conscious high tech oligarchs, cost is no object. For everyone else, it is.
It's nice to show how rich you are by burning money, but, a time will eventually come when you have to pay for it.
Perhaps it’s an accident that this news comes at a time when some people are predicting a new Ice Age, but it is surely a good thing to see that Europeans are being more rational and less zealous about so-called global warming.
Apparently, the science is not quite as settled as everyone thought.