by Chris MacIntosh, International Man:
For a while now we have said that the renewable craze is largely a side effect of ultra-cheap money and low inflation. Well, it seems the chickens are now coming home to roost. According to The Guardian:
From the article:
But relying on central bank rate rises in the current situation is folly for another reason: the reality of the climate crisis, which now greatly complicates the task of central banks and policymakers. One reason is obvious: higher interest rates considerably slow down the renewable energy transition. This happens in two ways.