Exploding energy prices are creating a wave of bankruptcies in Europe. North America will follow if we continue our suicidal economic efforts to promote green energy
By Joseph C. Stenberg, Wall Street Journal, Sept. 9, 2022
Let’s come right out and say it: Anyone who still thinks climate change is a greater threat than climate policy to financial stability deserves to be exiled to a peat-burning yurt in the wilderness.
Lest you’ve forgotten, the world’s central banks and other regulators are in the middle of a major push to introduce various forms of climate stress testing into their oversight. The Federal Reserve, Bank of England and European Central Bank, among others, want to know how global temperature variations a century hence might weigh on Citi’s or Barclays’ or Deutsche Bank’s capital and risk weightings today.… Read more