Jesu, how much of an idiot is this man?

It is already the case that the financial services sector is piling in to make money out of offset. And since scarcity will pay them rich rewards you can be sure that they are going to restrict supply. In that case assuming the availability of offset opportunities when suggesting a route to net zero is naive at best, and profoundly misleading at worst.

High prices being the solution to high prices. For, of course, when seeing the vast amounts to be paid for offsets folks will go create more offsets.

Has he even reached that chart on page 3 of the standard Econ textbook yet?

8 thoughts on “Jesu, how much of an idiot is this man?”

  1. Out of interest does he propose an alternative to a market solution? He seems to think the market is rigged, so that it will not correct itself. Is this a reasonable assumption? History suggests, no. Perhaps he can think of somebody who might regulate the market in the “correct” way? Ernst Rœm, perhaps?

  2. An interesting phenomenon when discussing economics with the left is that while fiscal conservatives understand that high prices and high profits tend to bring in competitors who will eventually drive prices down by increasing supply, the left has no tolerance for the “eventually” part of that. They call it gouging and want the government to set the price at the start, because, of course, they know exactly what it should be and we shouldn’t have to wait for competition to reach that correct price. Any resulting shortages of supply are irrelevant when compared with the offense they feel that someone is paying (often willingly) more than they think they should be paying or even worse, earning more than they think they should be earning.

  3. Diogenes. All you have to do is ask Bernie Sanders. He knows. If Bernie is busy Elizabeth Warren, AOC or Obama can also tell you. Or this Ritchie fellow.

  4. OT: talking of economics, driving down roads today that I don’t normally travel I noticed there’s a hell of a lot more maize growing round here than I thought. There is usually a small patch here & there most years amongst the barley, winter wheat and sugar beet but this year it’s all over the place. And then it struck me: E10. They’ll need much more ethanol for the mixture and I expect much of it comes from starchy crops like maize. A waste of good growing land IMHO, but what do I know. It’s obviously more lucrative to the farmer than the beet he used to grow.

  5. Well I’d prefer to be buying cheap cane sugar rather than competition-protected beet sugar, so if some farmers are seeing the future and moving production, good for them.

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