Meanwhile, energy consumers around the globe continue to feel a squeeze. U.S. natural gas production has slowed over the past few months despite supply shortages. Across the pond, UK lawmakers have offered energy-intensive industries a relief package after the country experienced a massive uptick in energy costs. However, soaring energy bills for businesses and families alike has not discouraged a bipartisan group of lawmakers from proposing a “border carbon adjustment” tariff. Writing for City Journal, Mark Mills criticizes that proposal as one that would fuel inflation at a particularly terrible time while not addressing its purported climate-related goals. Instead, Mills points to next-generation nuclear power and other technological innovation as a more viable path toward addressing the country’s energy needs.
Southwest Asian political economy analyst, Radio & Media Personality.