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Australians Vote for Opportunity over Climate Change Alarmism

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In an election that ultimately came down to a choice between economic opportunity and climate-change alarmism, Australians chose opportunity. The Wall Street Journal’s editorial board suggests that American politicians, particularly Joe Biden, take note. They write:

If American Democrats want a warning about the consequences of embracing the Green New Deal, look no further than Saturday’s election shocker in Australia. The opposition center-left Labor Party had led in the polls for months but lost as voters rejected its move left on taxes, spending and above all on climate change.

The ruling Liberal-National Coalition had been divided and tossed out two prime ministers during its nearly six years in power. Scott Morrison, the compromise choice as Prime Minister last year, managed to unite conservatives around a platform that stressed economic growth, tax cuts and support for the country’s energy producers.

Labor leader Bill Shorten promised to raise taxes on the “wealthy,” but his main theme was curbing climate change. Labor promised to cut carbon emissions nearly in half by 2030 compared to 2005 levels while subsidizing wind and solar. Mr. Shorten and Labor refused to support a job-producing coal mine in Queensland, and their candidates were routed in the resource-rich province.

The result is another lesson that the politics of climate change isn’t as simple as Western cultural elites claim. Labor thought that droughts, heat waves and brush fires would cause voters to embrace its climate solutions. Young people say they care about the issue, often as virtue-signaling. Former Liberal Prime Minister Tony Abbott lost his seat after 25 years in a tony Sydney district, where the green message resonated with affluent moderates.

But caring in the abstract isn’t the same as doing something that has tangible costs. Faced with lost jobs, higher taxes and a higher cost of living, voters in democracies time and again have rejected climate-change policies that wouldn’t in the end matter all that much to the climate. Joe Biden, take note.

Read more here.

Originally posted on Your Survival Guy. 

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

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