Climate policy—not climate change—has impacted thousands of businesses around the world, adversely affecting the livelihood of millions, which, according to multiple analysts, could result in an economic collapse that would dwarf the financial crisis of 2008–09.
The energy crisis is a starting point of a global economic meltdown that has already begun in Europe, and is soon expected to crossover into the United States, according to a Wall Street Journal editorial. Large-scale business failures in the United Kingdom and Germany are imminent, based on survey data. Governments scrambling to distribute subsidies will require substantial borrowing that will impact financial stability, while, at the same time, interest rates and fuel costs keep rising.
