Phasing out coal would save the world $78T

And start a world war, which will definitely save a bunch of money.

Especially today, with Europe being an energy hostage due to their unreasonable optimism for magic infinite availability of energy, you would expect better analysis coming out of Imperial.

People don’t care about the future costs of energy. They care only about the costs they pay today.

India gladly took discounted oil from Russia, despite the political implications.

China is still running full on coal, despite their people suffocating in pollution.

Germany never built LNG regas stations, because they were fine with having exposure to Russian gas.

You know who transitioned away from coal overnight? The US. Was it legislation that made this happen? No it was the sudden discovery of frac gas that made natural gas dirt cheap.

So our opinions do not matter. Today’s energy cost is the only thing that matters.

($78trn being clickbait speak for '1.2 per cent of current world GDP every year until the end of the century'.)

If there was real appetite to solve the climate problem, we would have a fleet of nuclear reactors coming online right now.