Normally, when we talk about someone attempting to exploit a terrible situation to advance their own agenda we reference the infamous maxim, “never let a crisis go to waste.” But it’s generally said as a comment on how terribly the person is acting. It’s rare indeed when you see a public figure coming right out and saying it themselves with no apparent sense of shame. And yet that’s what happened this week when the Director of the International Monetary Fund was on a videoconference with the Atlantic Council. Kristalina Georgieva literally said that a crisis is never to be missed as an opportunity… (Washington Examiner)
Environmentalists have an unprecedented chance to turn their policy hopes into a global reality during the economic crisis caused by the coronavirus pandemic, according to the head of the International Monetary Fund.
“You know, a crisis [is] never to be missed as an opportunity to do better,” IMF managing director Kristalina Georgieva said Monday.
Georgieva, a Bulgarian economist who took over as IMF chief last year, has a prominent role influencing how countries soften the economic blows delivered by the pandemic. She is also working on strategies to “jump-start economies” after the contagion passes.
And what is this opportunity that awaits us? Why, new, comprehensive policies to combat climate change, of course! Her job is supposed to be helping to develop ways to get various nations’ economies turned back on and avoid a global depression. And she claims to want to do that. But we should also, according to Georgieva, “see what are the policies that we can put in place and even accelerate so we can see climate-friendly growth in the future.”
Assuming this was really a priority, how precisely would we do this, Madam Director? It turns out that she’s got a laundry list of ideas, each designed to take advantage of the economic crisis created by the pandemic and using relief money as a tool to start twisting some arms. She’s clearly put a lot of thought into this.
First of all, oil prices are at nearly historic lows. Georgieva would like to see everyone turn the screws and remove “harmful subsidies” that benefit the fossil fuel industry. Nevermind the fact that, at least in the United States, the oil and gas industry doesn’t receive any subsidies that other large businesses don’t get. The reality is that oil prices are low because demand is low, primarily because people are locked down and not traveling very much. Once travel patterns return to normal, the oil market will be right back where it was, thank you very much.
But that’s not her only scheme. She also notes that the pandemic is damaging our food supply chains. Farmers and other producers are in financial trouble. They could probably use some economic relief from the IMF, right? Well, how about if they condition that relief on making the recipients retool their operations for more “green” systems? Yes, I’m sure that just what a farmer or meat processing plant operator wants… a huge bill to fundamentally restructure their operations just as they’re teetering on the brink of bankruptcy.
Oh, and if you’re having trouble paying your mortgage, the IMF might be able to throw you a lifeline. Provided, of course, that you retrofit your house with solar energy and other green technology innovations.
Here’s something else for Ms. Georgieva to consider. Right now we’re approaching one quarter million dead around the world because of the pandemic. And those who are still healthy are frightened about the future. Perhaps this isn’t the time to blackmail everyone in an effort to push your agenda. Just a thought…