by Alexander Christiani
The famous, but regrettably not uncontroversial, German Economist, Hans- Werner SINN gave a fascinating talk on 14 December at the Österreichische Nationalbank (ONB) on invitation by its Governor.
To cut it short: In Germany, still the economically most important country in Europe, Sinn labels the (famous) energy efficiency law ( “Energieeffizienz-Gesetz”) rather as a de-industrialization law (“Deindustrialisierungs -Gesetz”).He sees the world-wide efforts for de-carbonization as doomed. He underpins his message with numerous highly vivid examples (slides) – the most salient are enumerated below:
- The energy mix in Germany in 2020 consisted of more than 50 % in oil/gas and only 9% in renewable energy.
- A recent survey in Germany shows a big majority of 79% in rejection of a ban of oil/gas-based heating.
- Worldwide, 434 nuclear plants are currently in service, 62 in construction, 111 in planning and further 326 in the state of pre-planning.
- China and India are at present building hundreds of new coal-fired power plants.
- China alone emits more CO2 than all OECD countries together.
- Oil, which European countries ban, is being delivered at falling prices to other countries in the world, where it is burned.
- For generating electricity, needed for electric engines and heat pumps, coal will have to be burned as well, which otherwise could have been banned in Europe. As a consequence, world-wide output of CO2 is rising.
- CO2 emissions world-wide stem from China at 33%, US 13%, 34% from so-called “green countries” (post- Paris), other countries 23%, India 7% and the remainder 1-2% by the shipping-industry, Saudi Arabia and others.
Hans-Werner Sinn draws two main conclusions in fighting CO2 emissions:
- First: Going alone is completely worthless.
- Clima-clubs, in contrary, function.
My own conclusion:
- Green fundamentalists, wherever they are active,have to be viewed and treated with a good portion of scepticism.
The ABS is looking forward to receiving your views and comments!
