Reality check: Drive for rapid ‘net zero’ emissions a guaranteed loser

This year, Esquire celebrates its 75th anniversary and in this connection, the American magazine has asked which people worldwide contribute with something important and significant to the world in the 21st century. The list also features the Nobel Prize winner, Al Gore, the philanthropist, Bill Gates, the presidential candidate, Barack Obama, talk show host, Oprah Winfrey, media mogul, Rupert Murdoch, and the governor of California, Arnold Schwarzenegger. 

If you listen to the media, a green automotive future has arrived and a tsunami of electric cars is out­selling petrol and diesel around the world, transforming the planet and solving climate change.

We need a reality check. Battery-powered electric vehicles are fairly popular in urban China and California, as well as a few countries that heavily subsidise their drivers. But globally, fewer than 0.3 per cent of all cars are pure electric, and across Europe, BMW says, customers don’t want them.

Energy costs are climbing out of control. A gallon of gas costs nearly $1 more than a year ago. Americans are experiencing sticker shock this winter on home-heating costs. Though part of this is due to the world restarting after the pandemic, climate policies are increasingly driving prices up. We need a change of direction.