{"id":425396,"date":"2026-02-09T19:38:31","date_gmt":"2026-02-09T18:38:31","guid":{"rendered":"https:\/\/climatescience.press\/?p=425396"},"modified":"2026-02-09T19:38:35","modified_gmt":"2026-02-09T18:38:35","slug":"climate-change-and-energy-world-leaders-in-turmoil","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=425396","title":{"rendered":"Climate Change and Energy:\u00a0 World Leaders in Turmoil"},"content":{"rendered":"\n
\"Graph<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From The Master Resource<\/a><\/p>\n\n\n\n

By Steve Goreham<\/p>\n\n\n\n

\n

\u201cThere is no evidence that UN COP meetings and more than $10 trillion spent on renewables over the last 30 years have affected the climate. The average atmospheric carbon dioxide\u00a0<\/em>concentration<\/a>, which is blamed for global warming, has been rising over the last 50 years without any change to the trend.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

World leaders are in turmoil. For 30 years, the United Nations, World Economic Forum, and International Energy Agency, among business and political leaders called for a shift from hydrocarbon fuels to renewable energy. Thousands of laws were enacted to try to force a net zero energy transition. But it\u2019s now clear that green energy is unable to meet the needs of growing developing nations or support the artificial intelligence (AI) revolution in advanced nations.<\/p>\n\n\n\n

Since the founding of the United Nations Framework Convention on Climate Change (UNFCCC) in 1992, the UN has led efforts to reduce carbon dioxide emissions to try to fight human-caused global warming. Delegates from more than 180 nations meet at the annual UN Conference of the Parties (COP) to discuss climate action, with recent COP attendance exceeding 50,000 attendees.<\/p>\n\n\n\n

But there is no evidence that UN COP meetings and more than $10 trillion spent on renewables over the last 30 years have affected the climate. The average atmospheric carbon dioxide concentration<\/a>, which is blamed for global warming, has been rising over the last 50 years without any change to the trend.<\/p>\n\n\n\n

\"Graph<\/figure>\n\n\n\n

The World Economic Forum (WEF), a forum<\/a> of business leaders established in 1971, states: \u201cbusiness should not only create economic value but also serve society and the planet.\u201d At the WEF Sustainable Development Impact Summit<\/a> in 2020, more than 4,500 leaders called for a \u201cGreat Reset for Sustainable Development,\u201d committing to reach Net Zero by 2050 or sooner.<\/p>\n\n\n\n

Environmental, Social, and Governance (ESG) was established in 2004 by the UN as a framework to evaluate a company beyond traditional financial metrics. Of high importance in ESG<\/a> is a firm\u2019s efforts to reduce greenhouse gas emissions and support policies to fight climate change.<\/p>\n\n\n\n

But net zero policies cannot support the energy needs of growing developing nations. Also, the rise of artificial intelligence drives a huge need for electrical power in advanced nations that cannot be supplied by intermittent green energy sources. Businesses and political leaders now realize that Net Zero and ESG are not the keys to the future.<\/p>\n\n\n\n

Today, more than 6,500 coal-fired power plants<\/a> operate with more than 1,000 new plants in planning or under construction. Coal plants provided<\/a> 34% of world electricity in 2024, the leading source. Leaders call for an end to coal-fired power, but coal consumption grew to an all-time high in 2024. Still, 700 million people still do not have access to electricity and about two billion suffer blackouts or brownouts every other day.<\/p>\n\n\n\n

In 2021, Fatih Birol, Executive Director of the International Energy Agency (IEA),\u00a0said<\/a>,\u201dIf governments are serious about the climate crisis, there can be no new investments in oil, gas, and coal from now\u2014from this year.\u201d But last year the IEA World Energy\u00a0Outlook<\/a>\u00a0predicted that oil demand would continue to increase to 2050 and that gas consumption would increase 30% by 2050 in their \u201ccurrent policies scenario.\u201d<\/p>\n\n\n\n

U.S. Energy Secretary Chris Wright recently pointed<\/a> out that each of the billion people in the developed world uses about 13 barrels of oil per year, while a developing nation resident uses only about three barrels per year. The US and Europe have one or two vehicles per person compared to less than one vehicle for every ten people in Africa or India. Residents of wealthy nations use ten times the plastic used by people in developing countries. Developing countries will propel the demand for hydrocarbon fuels to better their standards of living.<\/p>\n\n\n\n

The AI revolution now drives the need for electric power in wealthy nations.  The US and China are competing for AI dominance and Europe wants to join the battle.  Data center construction is skyrocketing to support AI. Amazon, Google, Meta, and Microsoft invested<\/a> over $380 billion last year on AI infrastructure, a total larger than the gross domestic product of more than 140 nations.<\/p>\n\n\n\n

Larry Fink, co-chair of the WEC and CEO of BlackRock, the world\u2019s largest investment fund, said<\/a> at the WEC conference last month, \u201cYou cannot rely solely on intermittent sources like wind and solar. You need dispatchable power because these data centers cannot simply turn on and off.\u201d AI data centers are being powered by natural gas and in some cases nuclear power.<\/p>\n\n\n\n

Leading firms pledged to become Net Zero, but the AI revolution is shattering those plans. In 2020, Google announced a goal to operate on carbon-free energy by 2030. But in 2024 Google admitted<\/a> their emissions rose 48% over the last four years due to AI-driven services.<\/p>\n\n\n\n

In 2020, petroleum company BP launched<\/a> a $200 million \u201cenvironmentally friendly\u201d public relations campaign. The firm rebranded itself as \u201cBeyond Petroleum,\u201d pledging to reduce oil and gas production 40% by 2030 and to boost investments in renewable energy. Shell, ExxonMobil, and Chevron all announced<\/a> plans to invest in renewables or green technologies such as carbon capture and storage.<\/p>\n\n\n\n

But oil and gas firms found that renewables couldn\u2019t make money, even with government subsidies. Returns on renewable projects<\/a> were about six percent while oil and gas project returns were over ten percent. BP and Shell scaled back their renewable goals and investments in 2025.<\/p>\n\n\n\n

In 2020, Larry Fink declared<\/a> that he intended to use the trillions of US dollars managed by BlackRock to address global warming. Almost every major financial institution pledged to reduce emissions. ESG became a defining feature of Wall Street investing. More than 100 companies joined Climate Action<\/a> 100+ to focus on reducing emissions globally. The UN-convened Net Zero Banking Alliance was established<\/a> in 2021 and quickly grew to 140 financial institutions.<\/p>\n\n\n\n

The Great Reversal<\/strong><\/p>\n\n\n\n

But a conservative backlash attacked financial industry support for ESG and climate action. Republican legislatures in the US introduced<\/a> more than 100 bills to penalize financial companies that supported ESG practices. Republican state treasurers withdrew money from BlackRock.<\/p>\n\n\n\n

As a result, climate and ESG efforts in the financial industry have collapsed. After Donald Trump\u2019s re-election in November 2024, almost every US financial institution pulled<\/a> out of the Net Zero Banking Alliance, causing the group to fold. Dozens of firms left Climate Action 100+.  European firms also pulled back from climate commitments.<\/p>\n\n\n\n

The shutdown of US climate policies during President Trump\u2019s second term have devastated the global climate movement. The US has withdrawn from the Paris Climate Agreement and the UNFCCC and cut funding for climate organizations. A climate tax on shipping<\/a> proposed by the International Maritime Organization was halted by US and China opposition. The ending<\/a> of US subsidies for wind, solar, and electric vehicles heavily impacted those industries.<\/p>\n\n\n\n

Microsoft founder and climate activist Bill Gates authored the book<\/a> How to Avoid a Climate Disaster<\/em> in 2021. But last fall he changed his position. In a memo<\/a> to COP30, he criticized the climate community for their \u201cdoomsday outlook\u201d and focusing too much on \u201cnear-term emissions goals,\u201d stating that \u201cour chief goal should be to prevent suffering, particularly for those in the toughest conditions who live in the world\u2019s poorest countries.\u201d<\/p>\n\n\n\n

In addition to US Republican opposition, other political parties withdrew support from Net Zero. Reform<\/a> UK, which is leading in UK polls, coined the phrase \u201cNet Stupid Zero.\u201d Alternative f\u00fcr Deutschland, the number two party<\/a> in Germany, calls wind turbines \u201cwindmills of shame.\u201d Both the National and the Liberal parties in Australia scrapped<\/a> their support for Net Zero last fall, concerned with green energy costs.<\/p>\n\n\n\n

Conclusion<\/strong><\/p>\n\n\n\n

World leaders are pulling back from climate hysteria and demands for net zero energy. It\u2019s time to return to sensible energy policy and to adapt to climate change, as humanity has done for all of history.<\/p>\n\n\n\n

\u2014\u2014\u2014<\/p>\n\n\n\n

Steve Goreham<\/a> is a speaker on energy, the environment, and public policy, and author of four books, including<\/a> Green Breakdown: The Coming Renewable Energy Failure<\/em>.<\/p>\n\n\n\n

\n\n\n\n

Editor\u2019s Appendix: Goreham Posts at MasterResource<\/strong><\/p>\n\n\n\n

A mark of a true scholar is how his or her writings and conclusions stand the test of time. Steve Goreham\u2019s writings for MasterResource for more than a decade read well today. His books and illustrations on climate\/energy issues are excellent. And with his editorials in the Wall Street Journal<\/em> (see here<\/a>, here<\/a>, and here<\/a>) and other leading publications<\/a>, this \u2018talented amateur\u2019 is running circles around leading academics on the same issues.<\/p>\n\n\n\n

Rejecting Climatism: Trump Withdraws from UNFCCC and 66 International Organizations<\/a> (January 14, 2026)<\/p>\n\n\n\n

Environmental Groups Urge Congress to Ban Data Centers<\/a> (December 17, 2025)<\/p>\n\n\n\n

A Nuclear Resurgence, But Major Obstacles Remain<\/a> (November 20, 2025)<\/p>\n\n\n\n

Steeper Road for Zero-Emissions Vehicles<\/a> (July 23, 2025)<\/p>\n\n\n\n

Net Zero\u2019 Is Collapsing in U.S. States<\/a> (June 16, 2025)<\/p>\n\n\n\n

Time to Defund Climate Models?<\/a> (April 29, 2025)<\/p>\n\n\n\n

US Military Exits Climate Change After Wasteful Decade<\/a> (April 2, 2025)<\/p>\n\n\n\n

Trump Truth Bombs \u2018Green\u2019 Energy (Five EOs)<\/a> (January 27, 2025)<\/p>\n\n\n\n

Wind and Solar Are Fragile<\/a> (December 3, 2024)<\/p>\n\n\n\n

Scientists Haven\u2019t \u2018Saved\u2019 the Ozone Layer<\/a> (November 13, 2024)<\/p>\n\n\n\n

No Gov. Inslee, Repeal of Washington State\u2019s Climate Law Won\u2019t Hurt the Climate<\/a> (July 31, 2024)<\/p>\n\n\n\n

New US-EU Methane Rules Won\u2019t Affect Temperatures<\/a> (July 9, 2024)<\/p>\n\n\n\n

Winter Without Your Gasoline Car?<\/a> (May 15, 2024)<\/p>\n\n\n\n

Exploding Energy Prices in California<\/a> (March 12, 2024)<\/p>\n\n\n\n

Electric Power vs. Green Goals<\/a> (February 27, 2024)<\/p>\n\n\n\n

California\u2019s Electric Truck Mandate: 19 States Sue<\/a> (November 21, 2023)<\/p>\n\n\n\n

Green Hydrogen Needs Vast Subsidies<\/a> (October 19, 2023)<\/p>\n\n\n\n

Europe: AI Development or Net Zero?<\/a> (September 10, 2023)<\/p>\n\n\n\n

Carbon Language in Global Error<\/a> (September 5, 2023)<\/p>\n\n\n\n

\u201cGreen Breakdown: The Coming Renewable Energy Failure\u201d<\/a> (August 22, 2023)<\/p>\n\n\n\n

Europe\u2019s Crisis:  Blame Green Energy Policy<\/a> (June 28, 2023)<\/p>\n\n\n\n

Surging New England Energy Prices: No Surprise<\/a> (May 30, 2023)<\/p>\n\n\n\n

The Practical Impossibility of Large-Scale Carbon Capture and Storage<\/a> (May 2, 2023)<\/p>\n\n\n\n

Green Energy: Greatest Wealth Transfer to the Rich in History<\/a> (February 21, 2023)<\/p>\n\n\n\n

New England Curtails amid World Natural Gas Boom<\/a> (April 9, 2019)<\/p>\n\n\n\n

\u2018Sustainable\u2019 Fuels Unlikely to Replace Hydrocarbons for Air Travel<\/a> (January 2, 2019)<\/p>\n\n\n\n

100 Percent Renewables\u2014Poor Policy for Ratepayers<\/a> (October 29, 2018)<\/p>\n\n\n\n

Protesters Aren\u2019t Stopping US Pipeline Network Growth<\/a> (June 27, 2018)<\/p>\n\n\n\n

The Myth of Dangerous Acid Rain (in light of Hawaii\u2019s Kilauea volcano)<\/a> (May 23, 2018)<\/p>\n\n\n\n

Electrification\u2019: The Road to Higher Energy Prices<\/a> (January 3, 2018)<\/p>\n\n\n\n

Tax Bill Attacked for Loss of Electric Car Subsidy\u2014But Most Americans Don\u2019t Want Electric Cars<\/a> (November 20, 2017)<\/p>\n\n\n\n

Are US Vehicle-Mileage Standards Obsolete?<\/a> (November 8, 2017)<\/p>\n\n\n\n

Shale Shock: A New, Better Energy World<\/a> (September 30, 2015)<\/p>\n\n\n\n

Stressing the Grid: From Interventionism to Blackouts<\/a> (April 24, 2014)<\/p>\n\n\n\n

Thankfully Wrong: World Agriculture Booms in Face of Dire Predictions<\/a> (November 29, 2013)<\/p>\n\n\n\n

Don\u2019t Divest, Educate\u2013An Open Letter to American Universities<\/a> (June 11, 2013)<\/p>\n\n\n\n

Revisiting Climategate as Climatism Falters<\/a> (June 6, 2013)<\/p>\n\n\n\n

Climategate\u2019s Fifth Anniversary: Grubered Science (revisiting a controversy)<\/a> (November 19, 2011)<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThere is no evidence that UN COP meetings and more than $10 trillion spent on renewables over the last 30 years have affected the climate. The average atmospheric carbon dioxide\u00a0concentration, which is blamed for global warming, has been rising over the last 50 years without any change to the trend.\u201d<\/p>\n","protected":false},"author":121246920,"featured_media":425405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"Explore the critical analysis of climate policies and the impact of renewable energy spending on CO2 levels over 30 years.","jetpack_seo_html_title":"Is the UN's Climate Action Failing? 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The\u00a0COP28 event\u00a0will emit large amounts of carbon dioxide but is unlikely to have any measurable effect on global temperatures. COP28 is the 28th meeting of the Conference of the\u2026","rel":"","context":"In \"70000 delegates\"","block_context":{"text":"70000 delegates","link":"https:\/\/climatescience.press\/?tag=70000-delegates"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0636a75abbaaca.jpg?fit=968%2C504&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0636a75abbaaca.jpg?fit=968%2C504&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0636a75abbaaca.jpg?fit=968%2C504&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/0636a75abbaaca.jpg?fit=968%2C504&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":427893,"url":"https:\/\/climatescience.press\/?p=427893","url_meta":{"origin":425396,"position":1},"title":"RealClear Politics Is Right: The Climate Hoax Is a Massive Financial Scam","author":"uwe.roland.gross","date":"25\/02\/2026","format":false,"excerpt":"RealClear Politics recently posted an article titled \u201cWas Climate Change the Greatest Financial Scam in History?\u201d in which Stephen Moore argues that the trillions of dollars spent on climate action have had no effect in stopping climate change but has slowed development and poverty reduction. Moore is right. Not only\u2026","rel":"","context":"In \"carbon dioxide (CO\u2082)\"","block_context":{"text":"carbon dioxide (CO\u2082)","link":"https:\/\/climatescience.press\/?tag=carbon-dioxide-co%e2%82%82"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/0AQOxiAsy8c-BMfVBYtz050vq4IhcDbzVAXjShLlFKHPlPwUKxW9iRoDHFJaFDOxGMEiCzOT2kyLJmhBSxdY3cnpjMdMqBpdvXUs8InB98sWyBeh3q07M2BWHJwlib5uH-1.jpeg?fit=1200%2C695&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/02\/0AQOxiAsy8c-BMfVBYtz050vq4IhcDbzVAXjShLlFKHPlPwUKxW9iRoDHFJaFDOxGMEiCzOT2kyLJmhBSxdY3cnpjMdMqBpdvXUs8InB98sWyBeh3q07M2BWHJwlib5uH-1.jpeg?fit=1200%2C695&ssl=1&resize=350%2C200 1x, 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Crisis","author":"uwe.roland.gross","date":"07\/07\/2023","format":false,"excerpt":"All this comes hot on the heels of a reminder that\u00a0Swiss Re estimates US $196 trillion is required to fix the climate crisis.I can\u2019t remember the exact number, but I\u2019m pretty sure the actual US Apollo Mission moonshot didn\u2019t cost $196 trillion, even in inflation adjusted dollars.","rel":"","context":"In \"Climate change\"","block_context":{"text":"Climate change","link":"https:\/\/climatescience.press\/?tag=climate-change"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0moonshot.jpg?fit=1200%2C730&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0moonshot.jpg?fit=1200%2C730&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0moonshot.jpg?fit=1200%2C730&ssl=1&resize=525%2C300 1.5x, 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