Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
- World Economic Forum: Gas Prices Must Go Even Higher — to Save Democracy
- Russia’s invasion of Ukraine has brought renewed focus on this economic weakness, the WEF says.
- What is the answer for the U.S. and Europe? Pricing the alternatives to green energy out of the market. It says:
- First, leading democracies should agree to end the underpricing of fossil fuels, which is the principal factor preventing a clean energy transition. The underpricing associated with producing and burning coal, oil and gas amounted to $5.9 trillion in economic costs in 2020. Nearly a quarter of these losses – $1.45 trillion – occurred in 48 major and smaller democracies.
- The leading democracies of the G20 should collectively commit to phasing out cost and tax breaks for the production and consumption of fossil fuels. They should also phase in more efficient pricing of fossil fuels through taxes or tradable permits to cover the costs of local air pollution, global warming, and other economic damages.
- The paper goes on to argue that compliance can and must be enforced.
Read the original article by clicking here.