Its GOOD that BlackRock and JPMorgan are pulling away from net zero

BlackRock and JPMorgan have committed “a stark betrayal of the responsibility that they have in addressing the climate crisis” by pulling out of the Net-Zero Banking Alliance and Net Zero Asset Managers Initiative, whines city Comptroller Brad Lander. Lander, desperate to build lefty cred for his mayoral run, is dead wrong as usual — but he’s far from alone in his twisted thinking, which is now de rigeur for Democrats around the country and lefties around the world. Let’s get one thing clear: The goal of net zero carbon emissions ASAP at any price is as foolish as it is evil. It is a demand, made by people with enough money to be insulated from its consequences, that advanced industrial states around the world engineer deliberate energy shortages in the name of ending carbon emissions by an arbitrarily chosen date around the middle of this century.That means, quite literally, starvation and death for the developing world and horrific declines in living standards within developed countries. It’s a cult, and it has nothing to do with science.Fossil fuels provide more than 80% of power worldwide, and despite billions in subsidies the growth in wind and solar has yet to catch up with growing power demand — not in the West and certainly not in the developing world.If any Net Zero advocate rationally focused on the risks of climate change would be screaming from the rooftops for 100% nuclear power in the US, Europe and northern Asia and 100% LNG everywhere else until those nations catch up enough to go nuclear themselves. Indeed, look at the implementation of Net Zero in Western Europe.In England, which has a 2050 target, energy prices are the highest of any advanced economy and the nation’s industrial base is eroding. The birthplace of the Industrial Revolution is now heavily reliant on imports of both energy and goods — in many cases made with far higher CO2 emissions than if the government had kept the factories and power plants open at home. I...