The food, fuel and inflation crises stem from the politics of globalization

Suspension

Global elites left Davos last week after grappling with solutions to the world’s deepest crises. They left as soon as they arrived, unaware that the crises were entirely of their own making.

Take energy, shortages have led to the highest gasoline prices in US and UK history and fueled poverty affecting millions of people. Were it not for the specter of climate change – for decades one of the central preoccupations of globalists – the world’s energy situation would have been radically different.

The Canadian tar sands had not yet been demonized, and the country would have built the Keystone XL pipeline and other pipelines to carry larger amounts of energy across the continent and beyond.

It was possible to build LNG facilities on the Atlantic and Pacific coasts of Asia, the Americas, and Europe to ship and receive large quantities of natural gas.

‘Net-zero’ policies will not impede financing of new fossil fuel facilities. Carbon taxes won’t make energy more expensive.

In the same way that the United States quickly became the world’s largest exporter of oil and gas once the Trump administration scaled back climate regulations, Europe would have been drowning in energy had bans on fracking and offshore fossil fuel development been lifted to allow it. Develop its vast reserves of oil and gas. Instead of fuel poverty, Europe will see fuel glut.

The globalists who drive climate change policies tell us that there is no choice if the planet is to be saved from catastrophe many decades, if not centuries, from now. What they haven’t told us is that their predictions of doom are based on computer climate models, and so far all of them have been proven wrong.

No claim has been made – whether it’s melting Arctic ice caps, declining polar bear numbers, or increasing hurricanes. Reasonable people can argue whether the prophecies of doom will materialize in the future. Reasonable people cannot argue that past globalization’s decisions to bypass the free market created today’s energy crisis.

Despite globalists’ climate change policies, carbon dioxide in the atmosphere – now at 400 parts per million – has reached record levels. This has been a boon to the planet because carbon dioxide – also known as nature’s fertilizer – has produced an abundance of bountiful crops. Australia reported wheat, barley, canola and sorghum crop records. India, the world’s second largest wheat producer, expects record exports this year. Brazil expects a record for corn. Russia, which has another record crop, will be the world’s largest wheat exporter.

A crop of wheat is harvested in a field near the village of Suvorovskaya in the Stavropol region, Russia, on July 17, 2021 (Eduard Korniyenko/Reuters)

However, hunger is increasing. The United Nations warns that we are in the midst of a “global food crisis” with “44 million people in 38 countries suffering from emergency levels of hunger”. Here, too, the responsibility lies with the policies of globalization that make food expensive.

The dominant contributor to famine is supply chain disruptions caused by globalization’s decision to abandon traditional responses to pandemics in favor of a trial shutdown of much of the global economy. The chaos and costs arising from this decision by governments to implement the theory of the COVID-19 lockdown have upended the world’s food distribution systems and raised the cost of food. Inflation arose when governments printed money to support industries and individuals who were marginalized during lockdowns, and then made food prices more restrictive.

Exacerbating supply chain disruptions has led to globalization’s decision to perpetuate the war between Russia and Ukraine by supplying Ukraine with billions of weapons, a departure from the previous norm of pressure on combatants to resolve their differences through negotiations. As a result, agricultural production in Ukraine, formerly known as the breadbasket of Europe, collapsed, with wheat production down 44 percent and corn by 39 percent.

Reasonable people can argue whether Western governments were wise to implement and finance the shutdowns, or to perpetuate the Russo-Ukrainian war, but they cannot argue that their actions spurred the increase in famine the world is witnessing today.

Globalists might think that the world needs their new world order. But they also embody the old saying that the road to hell is paved with good intentions.

The opinions expressed in this article are those of the author and do not necessarily reflect those of The Epoch Times.

Patricia Adams

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Patricia Adams is an economist and president of the Energy Probe Research Foundation and Probe International, an independent think-tank in Canada and around the world. She is the publisher of Three Gorges Probe and Odious Debts Online and the author or editor of several books. Her books and articles have been translated into Chinese, Spanish, Bengali, Japanese, and Bahasa Indonesia. She can be contacted at [email protected]

Lawrence Solomon

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Lawrence Solomon is a columnist for the Epoch Times, author of 7 books, and executive director of the Toronto-based Institute for Consumer Policy. He can be contacted at [email protected]

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