Francis Foster

All these factories closing, all our steel plants closing.

That happens.

We then start buying our steel from China and things like girders.

And then you have to ship girders halfway around the world in ships that burn bunker fuel, which is like the dirtiest part of the crack.

Shipping low value, heavy bulk items halfway around the world is a very stupid thing to do.

And that creates a lot of emissions.

So not only is the production more polluting because they have dirtier energy in China, then you have all these emissions that you didn't otherwise have from transportation.

But because our targets are just looking at territorial production emissions, then, oh, you can just virtue signal that we're, you know.

Yeah, so we're losing employment.

It's bad for the economy.

We're having these artificially high energy prices.

It's putting more people in fuel poverty and it's making emissions higher.

How does that make sense?

We're just getting somebody else to do it so that we can look good.

Right.

So here's the thing.

Now they're going to introduce something called the carbon border adjustment mechanism, where they're going to tax imported goods that are made with dirtier energy to try and make them equivalent to our emission standards.

This is going to be

unbelievably inflationary.

And so if the economy isn't in the toilet already, it will be when this comes in.