Surprise: Bank Of England Confirms Net Zero Is Driving Up Energy Prices
Everyone has a shocked face right now, right? (via Not A Lot Of People Know That)
Net zero is driving up energy prices, admits Bank of England official
Net zero policies are sharply driving up energy costs, the Bank of England has admitted, as officials battle to bring living costs back under control.
Sarah Breeden, the Bank’s deputy governor, said households and businesses were paying more for energy because of so-called carbon permits, which require power plants to pay for each tonne of carbon dioxide they emit.
These permits accounted for nearly half the cost of fuel bought by gas-fired power plants last year, Ms Breeden said, which was passed on to consumers.
“There is now evidence that policies aimed at the climate transition were probably more important contributors to the recent rise and fall in inflation than we previously thought,” the deputy governor said in a speech at the University of Edinburgh Business School.
I mean, we all saw this coming, right? Non-cult members have been saying for the longest time that implementing all these crazy policies would increase the cost of energy, which means that the cost of everything else will go up. The road to hell is paved with good intentions. But, are they good intentions? Because the Elites who are making these policies sure do not act like ‘climate change’ is a problem in their own lives.
The post Surprise: Bank Of England Confirms Net Zero Is Driving Up Energy Prices appeared first on Pirate’s Cove.
Source: https://www.thepiratescove.us/2025/01/11/surprise-bank-of-england-confirms-net-zero-is-driving-up-energy-prices/
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