WATCH: PragerU Releases ‘The Real Climate Crisis’

“The world faces a serious crisis: one that will ruin whole economies, and lead to needless suffering and death. The crisis is related to climate change, but not in the way you’re probably thinking.”

Alex Epstein, author of ‘Fossil Future’ argues that a global energy shortage brought on by various climate policies is devastating the global economy. Globally, fossil fuels provide 80% of world’s energy. The price of energy has an impact on every good in the supply chain. This makes rising fuel prices a significant contributor to global inflation, currently at record highs. The average year-over-year inflation rate in the United States was 8%In the United Kingdom, it was More than 9%In, Turkey Inflation reached an alarming 54.8% in 2022.

“A shortage of anything leads to higher prices.” Epstein explains. “That’s just basic economics.”

Many governments, particularly in the West have restricted the use and production of fossil fuels. Epstein argued that these policies will result in many preventable deaths – more people die from extreme cold than extreme heat, so that in the winter months even people in affluent countries freeze to death due to insufficient warmth. Higher energy costs can lead to higher heating costs. This could result in thousands of deaths.

Epstein observed that the economic impact of the fossil fuel shortage is disproportionately felt by poorer countries, who are outbid by wealthier nations for what supplies remain – Europe, for example, has Electricity was heavily rationed In the past year, however, poorer countries in Southeast Asia such a Pakistan And a href=”https://www.france24.com/en/asia-pacific/20221004-most-of-bangladesh-plunged-into-darkness-after-national-grid-failure”>Bangladesh During the same time, there were widespread blackouts.

Because natural gas is an essential component of many fertilizers and most farm equipment that runs on diesel, the cost of fossil fuels can have a profound impact on food prices. Epstein cites the World Farmers Report on Food Prices. “78% higher” They are much more so than in 2021. Many farmers in the developing world are currently unable or unwilling to pay for fertilizer. Even those who can, they struggle to get enough, which puts many vulnerable people at risk of starvation and malnutrition.

Europe’s energy shortages are so severe that heavy industry firms have had to close down. shut downSome may not reopen at all.

The government-induced shortages in fossil fuels and derivatives such as fertilizer were also key drivers. Recent Revolution in Sri Lanka These protestors stormed the presidential palace to demand that their leaders be sent into exile.

Epstein claimed that, while climate change was real, the most pressing global crisis was an artificial lack of fossil fuels. And that intermittent power sources such solar and wind cannot feasibly replace these fossil fuels.

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