Subsidising net zero type so-called climate policies in the US is not only enormously expensive but globally disruptive as well, it seems. Climate protection becoming climate protectionism?
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Joe Biden’s flagship green energy policy risks plunging the world into the economic “dark ages”, Jeremy Hunt has warned.
The Chancellor urged world leaders not to put up trade barriers after the US President passed a $369bn package of subsidies to support climate and energy businesses, reports The Daily Telegraph.
Mr Biden’s Inflation Reduction Act has drawn an estimated $200bn in investment since it was passed last year, according to estimates from the Financial Times, and both the EU and Britain have been forced to draw up responses of their own.
It has sparked fears of a new era of protectionism, where economies are closely managed through tariffs and subsidies.
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Utopia, you are standing in it! 
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