Is High Inflation Part of the Elites’ Agenda?
High prices help energy transition, the elites’ warhorse
According to The Telegraph, British Prime Minister Boris Johnson and U.S. President Joe Biden share divergent views on inflation: the former wants to reduce it at all costs, unlike the latter, who seems to prefer the status quo. At the G7 summit in Germany, Johnson wants to discuss the need “to repurpose land currently used for crop-based biofuels to grow more food”.
The reasoning behind Johnson’s stance is very simple: sacrifice biofuels for vegetable growing, which, in principle, would “dampen soaring food prices and help avert famines in poorer countries that rely heavily on Ukrainian grain blockaded in ports by Russia”.
White House officials, however, said on Sunday that the Biden administration is opposed to such a move, first to protect American farmers, but also to avoid jeopardizing climate commitments. The United States is supported by Canada in this regard. So, what must be retained from this position? That the fight against climate change takes precedence over economic stability. We have been warned.
Members of the political and economic elites have sent signals in this direction in recent weeks. Joe Biden himself has never hidden his real motives. The president hinted at a press conference in Tokyo a few weeks ago that astronomical gas prices in the United States would accelerate the transition towards green energy. We now know why he is resisting Boris Johnson’s demand to counter inflation in the West.
Biden is not alone in his green crusade. In Davos for the annual circus of the World Economic Forum (WEF), German Vice-Chancellor Robert Habeck addressed the subject of the energy crisis, saying that sustainability required a change to the “rule of the markets”. In other words, trying to lower gas prices is an unnecessary luxury; it is better to keep them high in order to ensure a better energy transition.
At another conference, also in Davos, Kjerstin Braathen, CEO of DNB ASA, Norway’s largest financial services group, accurately described the global energy disruptions as a “transition”, only to admit the possibility that this leads to “shortages” and “inflationary pressures”. But, she stressed, the “pain” will be “worth it”.
In Canada, Prime Minister Justin Trudeau has refused to reduce or even abolish the carbon tax in the midst of the inflationary crisis. A tax that went from $40 per ton of greenhouse gas emissions to $50 per ton on April 1st.