Reality is starting to intrude on the Group of Seven (G-7) nations’ ongoing campaign to dismantle the West’s oil and coal industry.
As leaders of the G-7—the United States, Germany, Britain, France, Italy, Canada, and Japan—gathered at the luxurious Castle Elmau in Germany’s Bavarian Alps this week, they were forced to acknowledge privately what now seems obvious to many of their citizens: The green energy industrial policy that they have been working relentlessly to impose on their economies has proven to be disastrous and is rapidly losing support among their electorates.
The G-7 pledged in a communique on June 28 their commitment to “a highly decarbonized road sector by 2030, a fully or predominantly decarbonized power sector by 2035, and prioritizing concrete and timely steps toward the goal of accelerating a phase-out of domestic unabated coal power.” They also pledged to build a “cooperative Climate Club, and we will work with partners toward establishing it by the end of 2022.”…