Treasury Secretary: Quicker Switch to Renewables Needed

March 28, 2022

Walk and chew gum at same time.
Germany and Europe have to be assisted to transition from Russian gas. At the same time, transition to renewable energy sources has to be accelerated.

“Europe and the United States would be less exposed to the pressures this conflict is putting on our energy markets” if the transition to renewables was further along.

Also discussed, SEC proposals for corporate disclosure of climate risks – which Yellen said was “heartening”.

2 Responses to “Treasury Secretary: Quicker Switch to Renewables Needed”

  1. rhymeswithgoalie Says:

    I was glad and unsurprised by the position Yellen advocated, then she reminded me that banks are targeting “Net Zero by 2050” which seriously depressed me. We need committed milestones, not just an end target.

    <cut to appropriate Australien Government video>

    • J4Zonian Says:

      And not just any milestones, but sane ones. Getting off fossil fuels by 2050 is just one more delaying tactic. We need to get to 100% safe clean cheap reliable renewable energy by 2030.

      China has been threatening to make the transition first, reaching a point of using only virtually free energy & saving billions on health costs decades before the US & EU & thus being able to outcompete them economically as the massive Chinese investments across Eurasia begin to pay off. (They can probably kiss the ones in Africa goodbye.)

      Accelerating the transition may topple the ghost of Charles XII over there in Russia* & remove another huge impediment to ditching fossil fuels. We should start coming up with aid programs, a Marshall Plan for our madmen to help Russia recover from its madmen.

      * In 1698 Charles XII of Sweden inherited an empire & a powerful military at the age of fifteen & through bold, often reckless tactics & strategy, defeated a couple of coalitions of Europe’s great powers & won every battle he fought. Except his last, against Russia (in Ukraine). It destroyed his army & was the beginning of the end of the Swedish empire.

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