Despite Germany’s last-ditch attempt at realism, the European Union recently approved a 2035 ban on gas-powered cars, moving ahead with its “net zero” emissions agenda. In the U.S., the cost of achieving net-zero carbon emissions would be staggering – $50 trillion if the goal is reached by 2050 – as would the demand for raw materials, which in most cases would exceed current annual worldwide production.
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Jonathan A. Lesser, PhD, is the president of Continental Economics, an economic consulting firm, and an adjunct fellow with the Manhattan Institute.
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