JoNova

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Goldman Sachs pledges $750 billion on climate change — bankers just want to save the world too

Just when you think banks are only in it for the money, along comes Goldman Sachs to advise us on the planetary atmosphere:

“Goldman Sachs released a 34-page analysis of the impact of climate change. And the results are terrifying.”

Banks, Climate Change, Money, Carbon trading, logos.

All these nice banks want to save Earth too.

Yusef Kahn, Business Insider, Sept 2019

For some reason (what could it be?) a few months ago the Goldman Sachs investment bank was gripped with a sudden urge to repackage the IPCC report. Perhaps they were afraid their clients didn’t watch CNN, the BBC, or, pick-any-channel, maybe they couldn’t afford a television?

  • A Goldman Sachs report on the impact of climate change on cities across the world makes for grim reading.
  • The bank warned that “consequences of a warming world may well play out over several decades to come, even if efforts to limit greenhouse gas emissions are successful today.”
  • Rising temperatures would lead to changing disease patterns, more intense and longer-lasting heatwaves, more destructive weather events, and pressure on the availability and quality of water for drinking and agriculture.

“Despite the uncertainty around the timing and scale of the impact, it may be prudent for some cities to start investing in adaptation now,” Goldman says. “Urban adaptation could drive one of the largest infrastructure build-outs in history. Given the scale of the task, urban adaptation will likely need to draw on innovative sources of financing.”

In his abject terror, journalist Yusef Kahn forgot to ask if Goldman Sachs would profit from this.

The very day the UN Galactic Junket COP25 ended in near complete failure, Goldman Sachs was ready to step in with good news.

December 17th:

“Goldman Sachs pledges $750 billion on climate change”

Elizabeth Dilts-Marshall, Sydney Morning Herald

  • Goldman Sachs said it’s planning to spend $750 billion on sustainable finance-related projects over the next decade.
  • The firm also said that it will restrict financing to all new oil production and exploration projects in the Arctic, and that it would impose stricter lending requirements for coal companies.
  • “There is not only an urgent need to act, but also a powerful business and investing case to do so,” Goldman Sachs CEO David Solomon wrote in an opinion piece published Sunday in the Financial Time
  • “To give us the best chance of combating climate change, governments must put a price on the cost of carbon” says Goldman Sachs, CEO David Solomon.

And what wonderful investment opportunities there are if governments can be hectored into demanding forced payments from citizens for better weather. But the profits in this are not so much in the suckers buying windfarms as is the banks doing the brokerage. The windfarm owners will be completely dependent on government rules in order to make any profit (and the fickle wind). Their market could evaporate and they may be left with a bunch of factories making intermittent random and sleep destroying volts that no one wants.

As Tyler Durden says –

750 Billion Reasons Why Goldman Is Rooting For Greta Thunberg’s Success

Tyler Durden at Zero-Hedge

Goldman CEO David Solomon announced the plans in an editorial in the Financial Times, where he wrote that there is “a powerful business and investing case” for the bank to take steps to address climate change and the growing worldwide opportunity gap. Very powerful: having failed to make almost any money from the bank’s last foray into carbon tax and cap-and-trade, Goldman is now seeking to directly appeal to fellow fake virtue signalers, who in turn will hope to extract capital from naive investors pursuing the oh so noble goal of only investing in green, renewable, and “clean” (whatever that means) projects. Goldman’s bottom line, assuming a blended 3% commission on the $750BN in financial services it sells to gullible clients, works out to about $22.5 billion – a “powerful business case” indeed.

…earlier this year Goldman worked with Italian electricity company Enel to raise $1.5 billion through a bond offering that linked the investments to Enel’s commitment to increase its renewable energy base by 25% before 2022.

Translation: Goldman made about $15 million selling a bunch of bonds to a bunch of “green” liberals managing other liberals’ money. Because when central banks have taken over the market and Goldman’s own trading desk is shrinking quarter after quarter, and when the coming negative rates will make Goldman’s recent investment into retail banking a disaster, one can always make money betting on liberal guilt,…

As I’ve been saying for ten years and six months that the main game is the international carbon market, and the main beneficiary are the bankers. Climate change is potentially a $7 Trillion dollar money making venture (for bankers).

If Goldman Sachs can earn twenty-two-thousand-million dollars for shaking a few green hands, why wouldn’t they hire a squad of science hacks to write reports and issue press releases? Indeed, they’d be crazy if they weren’t donating a few million here and there to Greenpeace types too. Who knows — there might even be a business case for hiring teams of astroturfing trolls? It’s only an idea.  But $22 billion in profits makes all kinds of things possible.

Nine years ago Deutsche Bank had the same urge to write a 51 page science report. They also built 70 foot tall clock towers of doom.

Here we go again in Climate Bubble 2.0.

The bankers are back.

h/t Treeman, Pat, Dave B, Hugh P.

Related stories on Bankers in Climate Change

 

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Goldman Sachs pledges $750 billion on climate change -- bankers just want to save the world too, 9.7 out of 10 based on 79 ratings

146 comments to Goldman Sachs pledges $750 billion on climate change — bankers just want to save the world too

  • #
    pattoh

    Keep your eyes peeled for “Earth Dollars” – cryptos backed by monetizing the environment* > World Heritage Areas?

    Big Bro monetizing resources formerly part of Nations’ heritage to make a digital oversight economic prison for the whole world!

    *[ possibly with a carbon component & definitely with a Universal Declaration of Rights of Mother Earth]

    https://earthdollar.org/home/

    What could possibly go wrong?

    230

    • #
      OriginalSteve

      “Show me the moneyyyyyy!”
      “Jerry McGuire”

      Climate Money – the new 1980s Junk Bonds.

      GS ( have heard them called “the Devils Bankers” ) are in a huge hole, having backed a dead horse in this race…..

      120

      • #
        glen Michel

        The azkhenazim have sense for lucre. Internationalism playing out money and influence.THe network is insidious.

        104

    • #
      Betty Luks

      You end your comments with “What could possibly go wrong?”

      It seems to me people must wake up to the fact that they ‘don’t make money’ – should they do so and get found out they could spend many years ‘locked away’.

      In this modern world it is banks ‘that make money’ as the Bank of England’s 2014 Quarterly Bulletin explained (below).

      This fact has been known for at least a hundred years but because of such power and to control the press, the banks have been able to hide the truth from the public, and governments of all colours and categories have kept up the subterfuge.

      What it means is that private institutions have the power to indirectly control governments and nations through the money supply.

      The Commonwealth Constitution Act gives the Commonwealth government the power to issue notes and coins – you could say the people’s last bit of freedom. The banks want to do away with notes and coins thus tightening their grip into a stranglehold.

      It is not the first time in history that this has happened and I paraphrase from the Book of Revelation to describe our predicament:

      “They, the people and governments, will neither buy nor sell unless they wear the mark of the beast…” – world government and control.

      It is first and foremost a stranglehold on our minds because money has no reality in Nature. It is a man-made system and the first thing we must do is ‘dehypnotise’ ourselves.

      14 Quarterly Bulletin 2014 Q1

      Money creation in the modern economy

      By Michael McLeay, Amar Radia and Ryland Thomas of the Bank’s Monetary Analysis Directorate

      • This article explains how the majority of money in the modern economy is created by commercial banks making loans.

      • Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up ’central bank money to create new loans and deposits.

      • The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carried out by setting interest rates. The central bank can also affect the amount of money directly through purchasing assets or ‘quantitative easing’.

      (1) Overview
      In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans. Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.

      Continue reading here:
      https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy

      100

    • #
      Steve of Cornubia

      They’re already in development. I attended a science gabfest of some sort a few years ago, where one of the presenters talked about the work he and his collaborators were doing to develop a means to put a $ value on ‘natural assets’ such as forests, trees, rivers, beaches – even the air. He said this was necessary so that competing objectives such as the need for more housing versus the need to preserve open spaces and water quality, could be compared in terms of their cost/benefit.

      That sound great and who wouldn’t want a way to speed up planning and development, which was one of his stated aims. But …

      It doesn’t take a genius (obviously, if somebody like me noticed) to forsee this being hijacked by environmentalists and government-funded researchers, and turned into a means to make such progress financially unviable, and some people very rich (those who ‘own’ those assets).

      Think of it as ‘wilderness weregild’ – if you kill it, you gotta pay somebody a ton of money.

      70

    • #
      Geoff

      An environmental based PPP lease whereby industry leases its environmental footprint from BIG government. Pre-paid, government measured air space to load in CO2. Guv then pays a “new” industry to remove that CO2 from the atmosphere over the term of the lease. Perfect Keynesian hole digging and filling. What could go wrong?

      40

  • #
    Tim Spence

    Goldman Sachs announce they’re going into climate investment markets, then a month later, ex employee (and ex bank of England) Mark Carney announces he’s been selected as the head UN envoy for climate action.

    Hmmm … I wonder if they have a scam planned.

    430

    • #
      Greg Cavanagh

      So far scams have dominated the market. The few schemes that did truly try to invent alternate power all failed.

      The world is getting smaller, and with cameras on every street corner (literally), the smell of a one world governing body is getting stronger every year. The beast government is laying the foundations (excuses) before our eyes.

      230

      • #
        Latus Dextro

        Nix new here Greg; when Jorge Bergoglio opened the UN General Assembly of 2015, the Assembly that relaunched failed Agenda 21 in the spruced up format of the Sustainable Development Agenda, aka ‘Transformational Agenda’, the writing was clearly on the wall for all to see with at he destination implementation date of 2030. We have all been warned.
        The UN announced it and since then, neo-Marxist corporatist globalism, that toxic ideological infection that permeates all Statist education and broadcasting and the main financial players (h/t to virtue signalling opportunistic UNEP Divestment) have been on industrial economic and financial steroids. Screw the 40,000 excess deaths of the power impoverished in the UK winter, screw the millions of young people that Gremlin Greta unwittingly aspires to anchor in excruciating grinding destitution on the African continent, screw the economies of the West, and screw the nations in globalist controlled neo-Marxist Oceania, whose short lived national identities are so readily preyed upon and subverted by UK exported “super-diversity.”
        Blame it on UNFCCC defined climate change, and keep injecting the ideological steroids fuelled by escalating “carbon” taxes.
        One day, sure as the hell the Left are creating, they’ll be taxing us for our every exhalations. We’ll legally be required to wear a net reporting exhalometer. They want a global civil war and they will surely reap what they sow. Once more to a murderous calamity. How long will it take and how many times will the cycle have to be repeated before the ignoramuses of history finally turn in recognition to expunge the Marxist dialectic from which there is no emergent coherence.

        Goldman Sachs, yet another South Sea Bubble
        Q&A Why So Many Climate Skeptics ?

        70

    • #
      pattoh

      They Banksters are warming up the audience [ slaves & victims] to the “Green Options” as the end of the Reserve Status of the Fractional Reserve Fiat $US is nigh………

      41

    • #
      Alice Thermopolis

      Isn’t Malcolm Turnbull back with his old employer, GS, too? If so, expect has more than his finger in this Magic Pudding.

      40

      • #
        Alice Thermopolis

        Not GS, but KKR.
        On 1 June 2019 Turnbull returned to the private sector as a senior advisor to major global private equity firm Kohlberg Kravis Roberts (KKR).

        42

  • #
    graham dunton

    Good article, and yes, it is all to do with globalization. assisted by the UN. a united force certainly not interested in the better of mankind.
    When will we be able to, provide links in the Australian media, and oh yes that is yet another story? But verifiable documented evidence, will show the UN’s treachery a complicity, In destroying other nations.

    200

  • #
  • #
    a happy little debunker

    At least we (eventually) got rid of the Federal Member for Goldman Sachs in the Point of Piper.

    Unfortunately his replacement is no volunteer fire fighter.

    400

  • #
    Travis T. Jones

    “The bank warned that “consequences of a warming world may well play out over several decades to come, even if efforts to limit greenhouse gas emissions are successful today.”

    Today?

    With two days to go, nothing succeeds like a toothless budgie …

    2017: Former UN climate chief Christiana Figueres among signatories of letter warning that the next three years will be crucial to stopping the worst effects of global warming.

    World has three years left to stop dangerous climate change, warn experts

    https://www.theguardian.com/environment/2017/jun/28/world-has-three-years-left-to-stop-dangerous-climate-change-warn-experts

    Prepare for the apocalypse, at any moment now … now ….

    220

    • #
      Greg Cavanagh

      ZINGGGGGggggg…..!!!!

      Ah there it goes, you missed it.

      41

    • #
      glen Michel

      ..picture the scenario; all humans live under huge glass domes and given their daily soma. Meanwhile, outside, the earth begins to heal itself.

      70

    • #
      RobK

      “ The bank warned that “consequences of a warming world may well play out over several decades to come, even if efforts to limit greenhouse gas emissions are successful today.””
      That’s mainly because there’s no significant mechanism linking the two.

      140

    • #
      Dave

      It is currently overcast and dull in Wellington NZ and an insane 14 degrees centigrade.
      The beaches are heaving.

      30

      • #
        Latus Dextro

        It’s been the COLDEST and most dismal summer in memory down South. Not a whisper from the usual neo-Marxist media of RNZ and TVNZ.

        70

        • #
          william x

          Don’t worry latus D. We at the Bom notice that you are currently experiencing cold temperatures.

          This is an unusual anomaly that we will have to adjust.

          We at the Bom will wait a few months and then by using acorn, we can alter the raw data temperature 2 degrees or so warmer than what you may be experiencing at the moment. Be patient. You will see in a few months that our homogenised data, proves that your summer at this time was the hottest on record.

          70

  • #

    They aren’t called ‘Gold In Sacks’ for nothing.

    170

  • #
    Mal

    Scam of the century reaches its natural conclusion.

    Goldman Sachs making money out of it
    Consumers and tax payers just pay pay pay.

    Power to the activists and politicians, Greed to bankers and hedge fund managers

    180

  • #
    Mal

    Scam of the century reaches its natural conclusion.

    Goldman Sachs making money out of it
    Consumers and tax payers just pay pay pay.

    Power to the activists and politicians, Greed to bankers and hedge fund managers

    40

  • #
    pat

    for the record:

    Wikipedia: Zero Hedge in-house content is posted under the pseudonym “Tyler Durden”.

    don’t expect the MSM to warn the public over the financial sector’s CAGW money-grab:

    30 Dec: SMH: The year the Reserve Bank sounded the climate change alarm
    By Matt Wade
    When our buttoned-down economic guardians at the Reserve Bank describe something as a “serious challenge” and a “systemic risk” it’s time to pay attention…READ ON
    https://www.smh.com.au/business/the-economy/the-year-the-reserve-bank-sounded-the-climate-change-alarm-20191227-p53n7q.html

    27 Dec: LA Times: Bloomberg: Why Wall Street wants to price pollution
    By Reed Landberg and Mathew Carr
    Protesters and Greta Thunberg weren’t the only ones disappointed by the outcome of the United Nations climate talks in Madrid this month.
    Businesses including banks and major polluters see a missed opportunity and even some risks in the decision to shelve work on adding market mechanisms as a tool to rein in the greenhouse gases warming the planet…READ ON
    https://www.latimes.com/business/story/2019-12-27/carbon-markets-climate-change-price-pollution

    11 Dec: Bloomberg: JPMorgan Says Climate Change Funds Will Pay Off, Eventually
    By Eric Lam
    Investors in climate change-related products have been largely disappointed with their returns over the past decade. Yet there is still reason for optimism the investments will ultimately pay off, according to strategists with JPMorgan Chase & Co…

    However, JPMorgan sees three key factors that should help bolster the performance of these products:
    Climate change appears to be accelerating, and while that’s bad news for both the environment and humanity “the odds are at least improving of some policy action and behavioral adjustments and resulting gains on climate change investments.”…READ ON
    https://www.bloomberg.com/news/articles/2019-12-11/jpmorgan-says-climate-change-funds-will-pay-off-eventually

    80

  • #

    Some of you may even remember Turnbull touting Carbon Trading before he was elected to Parliament and Kevin Rudd was also a fan, Both gentlemen, already affluent from share trading, stood to gain much more from Carbon Trading in whatever form and both are now adrift and irrelevant in the mire that is now dominated by short trading bottom feeders.
    Last but not least was the Gillard who pledged “There will be no Carbon Tax under a government I lead” and then promptly tied the knot with the Greens and introduced one.

    I was very active during that decade, emailing MP’s and Senators relentlessly about the CO2 hoax, discredited climate scientists like Stephen Schneider and Michael Mann, data torturers in Australia like David Karoly, Joelle Gergis, the infamous John Cook, serial propagandist Al Gore and of course the UN IPCC, the global mouthpiece for “woke propaganda”. Classic in IPCC history was punted chairman Rajendra Pachauri who went on to publish smut after a long history of sexual harassment and assault!

    Jo you and David, along with your supporters should be very proud to have kept the climate debate front of mind here in Australia. This blog was the key to keeping the bastards honest and it was with much pleasure I got to to see off Krudd, Ghastly and Turncoat who now inhabit the corridors of irrelevance when other ex PM’s bask in the afterglow!

    460

    • #
      Kalm Keith

      :-) :-)

      Yes, it’s nice to be reminded that although those you mentioned are well off financially their names are covered in mud.

      Still, even that isn’t much comfort when the seven tonnes of Australian taxpayers gold taken to the Great Big Barrier Reef is still “out there” somewhere.

      I need to be shown and convinced that we still have a functional legal system.

      KK

      KK

      180

    • #
      truth

      Remember Turnbull was in trouble-sort of-for a hedging adventure-even as PM-wherein the company he was invested with was shorting Australian stocks… and some alleged that those actions were not only a bet against Australian business but allegedly risked making the targets’ fall almost a dead set certainty.

      Whatever it was …it was a horrible look for an Australian PM.

      160

    • #
      Deano

      Your point about this blog being important is an understatement. Considering the near 100% total adherence to the precious warming theory by the big media media players, even if you disagree with Jo, this blog represents an oasis of the value of free expression. Far worse than the rise of CO2 levels is the rise of censorship – much of it voluntary too.

      50

  • #

    [...] would have thought that bankers would be so public spirited? Jo Nova [...]

    30

  • #
    Travis T. Jones

    The International Carbon (sic) Market

    Carbon offsets have patchy human rights record. Now UN talks erode safeguards -

    “A new global carbon market could unleash finance for projects around the world.
    But protections for local communities were weakened in draft rules at Cop25.”

    https://climatechangenews.com/2019/12/09/carbon-offsets-patchy-human-rights-record-now-un-talks-erode-safeguards/

    U.N. Climate Talks End Without Meeting Goals

    “Climate negotiators failed to strengthen targets to cut emissions or to create a global carbon-trading system, two main goals of the 2015 Paris accord”

    https://www.wsj.com/articles/u-n-climate-talks-end-without-accord-on-carbon-markets-11576424025?shareToken=st802082d69ac34e5cbb3a8b0f1574e628

    Carbon markets will not help stop [global warming]

    “We now know from abundant experience from various carbon markets how these trading systems can be gamed and cheated.”

    https://climatechangenews.com/2019/12/13/carbon-markets-will-not-help-stop-climate-change/

    Madrid Climate Conference Failed, But Silver Lining Exists

    https://www.forbes.com/sites/andystone/2019/12/20/madrid-climate-conference-failed-but-silver-lining-exists/#7112e098137c

    “The importance of carbon credits can’t be underestimated as half of the world’s countries intend to use them to fulfill their carbon mitigation goals under Paris.”

    Tom Nelson @tan123: “Some nice points here about carbon dioxide scam credits, which don’t prevent any bad weather, but do provide easy ways to scam taxpayers out of billions of dollars in hard-earned cash.”

    Go Climate Neutral Now!
    United Nations online platform for voluntary cancellation of certified emission reductions (CERs).

    Looking for a perfect last-minute Christmas gift?

    Offset the recipient’s carbon footprint by supporting UN projects -
    https://offset.climateneutralnow.org

    60

  • #
    Another Ian

    What they didn’t include in their background

    “Climate Prediction Swings and Misses: A Decade of Alarmist Strike Outs, 2010-2019″

    https://wattsupwiththat.com/2019/12/29/climate-prediction-swings-and-misses-a-decade-of-alarmist-strike-outs-2010-2019/

    110

  • #
    PeterS

    I’m convinced the CAGW scam has lots of legs in it. At the moment it’s going from strength to strength mostly in the West. It even could be the key to sending the West over the cliff with much of the rest of the world plus the treacher0us left amongst us clapping and cheering. The next few years is critical for the West. Too bad much of the public are so ignorant of the truth to do anything about it.

    220

    • #
      OriginalSteve

      Unfortunately they will wake up once AI has replaced a lot of thier jobs and all manufacturing is now in china.

      Australia is vulnerable since ince allbtourism is damaged and we have not much left, they will try and strangle our ecomomy to bringbus into servile lives under the benevolent but useles govt handouts.

      Thats slavery….

      70

      • #
        PeterS

        Slavery is one of the main goals of the globalists. I believe they will achieve it simply because history teaches us they always end up in control – until the cycle ends and the a new one begins after the downfall of the elites. Rome was not built in a day and neither was it destroyed in a day.

        70

        • #
          Dennis

          However they apparently discounted the impact of social media and generally massive changes during this The Information Technology Age.

          Read The Sovereign Individual, how to survive and how to prosper from the coming changes that began in the 1990s.

          Never in history have the people had access to so much information, or been subjected to media fake news propaganda like now.

          70

          • #
            PeterS

            Such technology makes it so much easier and simpler for the global elite to control the masses. That’s why we need to be more aware and do our own research rather than taking the lazy approach and soak up whatever is dished out by MSM, educators, governments, etc.

            50

          • #
            truth

            Nothing depends more on reliable synchronous baseload power than that very information technology…and there seem to be no plans in place for ensuring the whole business of the internet and its energy-gorging data centres …along with the internet of absolutely everything that orchestrates our lives….keeps us alive even….will survive this insanity.

            00

        • #

          A gathering of globalists. Seven Goldman Sachs on the 2016 Trilateral Commission Membership List… It’s where the Deep State likes to hang out and make its plans for us. https://freddonaldson.com/2016/11/15/trilateral-commissions-2016-roster-includes-many-of-the-folks-who-rule-our-nation-behind-the-scenes/

          50

    • #
      Kalm Keith

      Just imagine how many “legs” the CAGW mooment would have if all social security recipients “looking for work” were required to attend 8 hours every working day and remain on site at a public center. Stadiums and entertainment centers could be used.

      The focus of attendees might quickly switch to job searching in earnest but perhaps the biggest benefit might be a reduction in Demonstrations and mass rallies to demand Climate Action, whatever that is.

      KK

      100

      • #
        GD

        if all social security recipients “looking for work” were required to attend 8 hours every working day and remain on-site at a public center. The focus of attendees might quickly switch to job searching in earnest

        That would be great. Unfortunately, the largest segment of unemployed is the over-50s and young management doesn’t want to hire older workers.

        By all means, bring your scheme in for the under 25s, but leave older people who have worked all their lives only to be thrown on the scrap heap at 55 or less, leave them alone.

        Funny thing is, those older unemployed would probably attend such 8 hour days with gusto and end up lecturing the lecturers.

        40

        • #
          Kalm Keith

          Totally agree.

          I had thought of adding qualifiers but it would have been extra bulk.

          I think that in some countries you can’t claim unemployment benefits until you have actually worked and paid tax for a qualifying period.

          Another thought was to bus people off to bush areas to clear ground litter and small rubbish scrub that endangers homes, businesses and farms.

          As an example there is a primary school on a main thoroughfare that has council land next to it. That land is steep and covered with rubbish including lantana and Briton.

          Clearing that would make the school safer but councils won’t allow ANYTHING to be cut.

          KK

          20

  • #
    David Maddison

    Even if it were true that the earth was warming due to anthropogenic causes, when in human history (e.g. Minoan, Egyptian, Roman, Medieval periods) has warming EVER been a bad thing? It’s ALWAYS been a good time of low incidence of famine, war and disease plus high levels of productivity.

    280

    • #
      glen Michel

      Imminent catastrophe and fear of extinction. the masses have no interest in perspective. This is becoming a massive reset for humanity.

      70

    • #
      PeterS

      If it were true that the earth was warming due to anthropogenic causes then the solution is plainly obvious. Go nuclear. Of course there is no such warming and the whole thing is a scam and a hoax. Hence there is no pressing need to go nuclear. Imagine we knew the earth was going to be hit with a killer asteroid in say 10 years. Would all the nations work together to implement a real solution to avoid such a disaster or do we have some nations implementing new taxes and subsidies just to make the elite more rich and more powerful while other nations do nothing, as is the case with the alleged climate change emergency?

      120

    • #
      Greebo

      Not so. Just ask Hermione Granger Emma Watson. apparently we’ll all be eating our pets in a few years due to crop failures.

      40

    • #

      Judging by ancient sea levels at sites like Ephesus, Ostia and even Thermopylae, warming and abundance are connected. Confusion comes in when we assume that general or global warming is connected with high maxima and drought. In fact, cooling should produce those effects in more places.

      It’s interesting that during the recent fires on the midcoast we had some very high maxima but near or on those hot days we recorded our two lowest minima for November in the record (post 1964). Not that I’m convinced that we are entering a major cooling phase…but I wonder if those fearful of “global warming” have even spent a moment reflecting on what that really means. Curiosity and history are not their strong points. Sahara pluvial, anyone?

      Someone linked me to this pic of Harlech Castle the other day: http://www.harlech.com/visitwales/harlech.jpg

      That was a coastal fort in the 1200s and it was still pretty coastal in the early 1600s. I’m perfectly aware of altered flows, siltation etc…but you’d reckon our current devastating sea level rise would easily have that plain flooded. The only sea level rise we know of is a dribble starting in the 1700s. Finding some land subsidence in a coastal Asian city or some downward post glacial rebound won’t change what is clearly registered at geologically stable sites and what is apparent to our eyes when we walk along Sydney Harbour.

      Can’t be said often enough: this interglacial isn’t as warm as the previous one, and this Modern Warming is not much chop compared to several previous warm phases in the last twelve thousand years. Knowing stuff like that is what geology has been for. I’m sure “global cooling” takes many forms, but local high maxima and drought are a pretty good bet for when a generalised cooling comes about. At least sleeping weather will be better.

      100

  • #
    Kalm Keith

    Thanks,

    Treeman, Pat and Jo for this post.

    Sharp prods like “the UN Galactic Junket COP25″ make us stop to ask, just what was that all about?

    This is WW 111, world war 3, but it’s largely over and all that the Elites have to do now is divvy up the spoils.

    I wonder who was Australia’s primary minister when “very fast trading” was “introduced” to the Australian share market to provide the market with “greater liquidity”?

    Who authorised this?

    Every trading day there’s a skim taken off the Australian worker’s superannuation savings and sent to the instigators of Very Fast Trading.

    Who said that the Chinese were the biggest threat to Australian security.

    Yes, we live in a democracy.

    Or is it a cell?

    KK

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      Dennis

      I believe that we must now factor in the changes taking place as Brexit proceeds. And the EU struggles to maintain its grip on member nations and cope with economic decline in two major finance sources, Germany and France, after losing Great Britain.

      And the new new world order based on the Commonwealth of Nations returning to closer economic relations with the prospect of the USA and Japan participating.

      Add to the future President Trump’s campaign to force the UN to return to its intended roles and to stop interfering in the affairs of member nations, as President Trump outlined during his addresses to UN delegates in New York.

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    Robber

    I wonder why we never hear from the Chinese Government reporting how catastrophic catastrophic global warming will ruin their development plans?

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    • #
      PeterS

      I know it’s a rhetorical question. Of course the answer is the Chinese know it’s all a hoax and are patient enough to see the West self destruct.

      110

      • #
        Zane

        Green parties are crypto-Marxist. Their spiritual homes are Beijing and Moscow. The Kremlin funded the nuclear disarmament campaign in the West, the CND, which used to demonstrate outside Royal Navy nuclear sub bases in Scotland and the like. After the Soviet Union imploded, these hardline anti-nuclear activists moved into and took over the environmental groups such as Greenpeace. Destroying the West’s standard of living is their object, and this of course suits Russia politically. While Beijing would love to have middle eastern oil and other resources all to itself, and to pay for them in yuan and not US dollars.

        I think Maurice Strong and the Club of Rome were also Soviet proxies. Strong eventually absconded to Beijing. Strong was amazingly connected, CEO of Petro Canada under the Pierre Trudeau administration, and later undersecretary-general of the UN. He set up the UNEP. You don’t just walk into these posts without powerful backers. The Kremlin? I wouldn’t rule it out.

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        • #
          PeterS

          I will never forget the time Putin went to China around 2000 for his first meeting there. I felt something was going on back then. They are after all silent partners in many fields.

          60

          • #
            Zane

            Maurice Strong also headed Ontario Hydro, Canada’s biggest electric utility. Talk about putting the fox in charge of the henhouse.

            50

        • #
          truth

          The series ‘Occupied’ that’s on Netflix at the moment seems to be about a near future where a weak Green Norwegian government has shut down its oil production in the interests of mitigating climate change but has had no thanks from Europe that’s in league with Russia…just threats of war and takeover if they if they don’t provide the oil forthwith….things post climate mitigation having apparently gone badly.

          I’ve just started watching it …will be interesting to see how the spin goes.

          Hans Werner Sinn’s Green Paradox some years ago posited that military conflict was a real possibility on this issue .

          We can be pretty sure if the world economy goes south in a big way …as seems very likely…it will be the EU and UN that try to wield the whip…but in collaboration with Russia…but actually as in this series EU using Russia as their enforcer…???

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  • #
    John F. Hultquist

    Not to be contrarian but I know of several cities and states that ought to be doing something about old roads and bridges. Compared to way back when:
    … modern structures are built to better withstand evil weather events, raw materials and labor cost more, and planning and law suits add delays and extra costs.
    Bond issues and banks provide the necessary financing.
    It is the silliness of the Goldman Sachs approach that rankles.

    60

  • #
    Zigmaster

    Goldman Sachs should’ve gone under for its role in the GFC. After the behaviour of the banks then why anyone would trust anything they say is beyond me. People have such short memories similar to the amnesia afflicting those that think the world is warming dangerously.

    120

    • #
      PeterS

      The US government and Federal Reserve were scared because they took the view they had to do whatever was needed to avoid a complete collapse of the Western financial system, which was just a matter of hours ways. Money was being withdrawn from the banks at an unprecedented rate and escalating to a crescendo. The alternative was to close the banks, which would have resulted in civil violence. Of course all that has happened is they postponed the inevitable. The next crisis will be much worse and unstoppable.

      20

    • #
      PeterS

      I also believe the next financial crisis or two will be used by the globalists to implement the next stage of their game plan. In fact many people will be begging for them to do it.

      30

  • #
    Richard Ilfeld

    Another institution innoculates itself against accountability and claims a flow of public dollars by mouthing liberal causes.
    I assume they no longer deal in real estate not sufficiently above sea level, and no longer permit flight on private jets.
    Goldman sucks, actually. Dodgy deals and crony capitalism are as much a part of their history as financial innovation.
    When have they ever refused a deal that was profitable? Or turned down one that wasn’t. Or taken a risk when it could be laid
    off on taxpayers. No change, this.

    50

  • #
    robert rosicka

    Typo alert – Jo has typed Goldman Sachs as “Bankers” !

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    Furiously curious

    Slightly off topic, but it’s all part of the zeitgeist. The Aus reviewed a new TV series, “The Commons” in the weekend. It’s on Stan, but I reckon the ABC will be chomping at the bit to screen it.
    “The series was 2 years in the making and Birsh spent a year of research talking with climate scientists about what was ‘just around the corner’. She wanted viewers who saw her drama to think, ‘Well, it’s not happening today, but it could be happening tomorrow’. How right she was.” (I wonder if Jo got a call??) “The series shows the way our world has progressed into the future, the inability, refusal even, of governments to manage the county’s ecology, has seen us recede in our daily lives into anxiety and dread. People are moved into large refugee centres, as Australia burns, and its water dries up completely in an unending drought.”

    We have survived “Mad Max” etc, but stuff like this is a not very stealthy weapon, more deeply ingraining the preferred narrative into our society’s heads. ‘Just another brick in the wall.’

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    • #

      It’s standard now for every natural disaster to be unprecedented and unending. We live in the age of expertise, when catastrophic sea level rise can be shown not to exist by a simple walk down to Coogee Beach or Circular Quay…but instead we learn through some expert quoted in The Age or the ABC.

      Really, these people have made up their minds that we will be paying some sort of universalised carbon tax (for starters) and if you don’t think you’re in a heat wave (I still haven’t turned on the a/c this summer) you’ll just have to be told.

      I’ve previously listed the driest calendar years for NSW and there’s not much point repeating. Sydney’s driest (sub-700mm) have been before 1969 and the two driest were in the 1800s. 2019 on the midcoast is certain to be the very driest for a number of towns, but until now the stand-outs have been 1902 and 1915. At Bathurst, 1982 and 1944 were the driest. At Bourke, on the other hand, 2002 does seem to have been driest in a long record, though it might have been 1929, depending on gauge.

      This gives a fair picture…http://www.bom.gov.au/climate/history/rainfall/

      The manipulators are determined to draw advantage from every real disaster and a quite capable of creating one through fiddled stats and staged reportage. (Remember this?…https://www.youtube.com/watch?v=tocuyJ1Fu7U). They even report disasters beforehand and move on to the subject of Miley Masterchef when they don’t happen. Because they’ve still got millions glued to to that box. They can tell us anything, they will tell us anything.

      Treat the globalists as the true enemy. Don’t let them get us excited against the “extremists” they either pay or drug to be extreme when they are running low on real events. Turn off their refuse media. Believe nothing but a cricket score.

      Stop globalism. Do tradition, family, privacy, property. And do coal.

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    Dennis

    Australia signed and ratified the Paris Agreement in 2016, Turnbull Government, PM Turnbull a former Goldman Sachs Director and, I understand, his son has worked there.

    In more recent times the IPCC has criticised Australia for not doing enough about climate change (hoax), and there are reasons why despite the Australian Government commitment to emissions reduction. One is the decision to stop paying taxpayer’s monies into IPCC begging bowl for funds.

    The other is Emissions Trading, Minister Taylor recently requested an explanation about what the ETS is doing to combat global warming caused by carbon dioxide IPCC claim.

    In other words the present Australian Government is not fully cooperating.

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    Dennis

    When the Gillard Labor Government announced their carbon tax and renewable energy surcharge levied on electricity bills Minister Combet was questioned by a journalist about the future of carbon tax. Firstly the journalist managed to extract from the Minister that 10 per cent of carbon tax was being remitted to the UN. And then asked him about carbon tax becoming in future an emissions trading scheme, how would that operate.

    Reluctantly Minister Combet explained that carbon tax would end and Australia would join the EU Emissions Trading Scheme, one hundred per cent of tax on Australians by our government paid into a foreign fund.

    Prime Minister Turnbull was keen on ETS when he, to the disappointment and dismay of many in the Liberal-National Coalition Opposition, sided with Rudd Labor in Parliament on their proposed ETA.

    ETA is so obviously another wealth creation scheme, and climate change hoax is again the excuse.

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    TdeF

    If you accept that CO2 and CO2 alone is warming the planet rapidly, making the seas rise quickly and causing every extreme weather event, bushfires, earthquakes and bush fires, what actually has changed?

    The allegation is that increasing CO2 by 50% in the last 150 years has caused all this envrionmental calamity, then we have as much to fear from the next 150 years. Then bring it on! The terrible sea rises, the populations driven by the weather not need or greed, the extinction of the polar bears, the vanishing of the ice at the North Pole (which would be great) and the terrible famines which have seen China and India grow by two billion people.

    As far as the ordinary man can see, most of the world has had 75 years of peace, the longest stretch in human history and massive population growth and an explosion in the food supply. We go to the same beaches as in our childhood and the Polar bears are fine. Those melting glaciers in India are in trouble though, Delhi just had the coldest December since 1901. That’s Global Warming for you.

    And the UN claims credit for peace where everyone on the planet knows it is Mutually Assured Destruction which has kept war at bay, nothing else. Still they hope that the invention of Climate Change will give them the cash they need to travel first class in life. And they are so grateful to Greta Thunberg for showing that someone still thinks well of them, even if she said they should all be lined up against the wall. Which is often why they left home in the first place.

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    • #
      TdeF

      As for the rich merchant bankers, they are the people without any scruples. It’s all about money, not people. Wars do not happen without bankers and cash, lots of cash. Often major bankers have a bet each way. As for Climate Change, what do they care? It’s just another excuse to get rich, taking a percentage. Opportunists all. Then where would Western Society be without greedy bankers? It’s a symbiotic existence or no one would have a house or a business or a job, but once in a while you expect them to have some morals, like Westpac. Or Goldmann Sachs who were held responsible for the GFC.

      And Malcolm Turnbull, GM of Goldmann Sachs Australia, that most caring of half billionaires, he really cares about the planet. Like Tim Flannery, he is probably more frustrated that he has not made much more out of Climate Change. Still that unexplained $444 million parting gift to his and Lucy’s close friends was a great parting gift, but the press never mention it. What was it for again?

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    TdeF

    And what is great about Donald Trump, what makes him almost unique in politics is that he is not a lawyer.

    Hilary and Bill were senior lawyers, which is why they left the White House ‘broke’ thanks to Whitewater. Most of the Democratic challengers are lawyers, like Elizabeth Warren who managed to invent herself as ‘person of colour’ to get into law and then into Harvard. Obama was another Harvard educated lawyer.

    What makes them singularly unable to run a country is that they have no idea about how to make money for other people. Nor do bankers. Donald however is an expert and the good news from the US economy is amazing, while the Democrats are being told to talk up the coming depression. The only ones depressed are the Democrats but at least Obama tried to take credit for Donald’s first year, despite having eight years to prove he could do more than set fire to the Middle East.

    Bankers and lawyers. And Insurance companies. Very ethical people who love Climate Change. The way a tic loves people. As I wrote, symbiosis.

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    Penguinite

    And who works for Gouldman Sacks? None other than Malcolm Turdball!

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  • #

    While I’m a total conspiracy theorist, I’m not a conspiracy simplifier. As in politics, so in finance, globalists are more like warring/collaborating crime families than a single pyramid with some Mr Burns or “Redshield” character at the top. Yes, globalism is a conspiracy to grab and centralise control of all land, water, resources, money and communications with a view to controlling humanity. But a plum that big and ripe has more than one picker and more than one way of picking. There are globalist Paul Castellanos and globalist John Gottis, and they may be even keener to kill one another than to kill you and me.

    I don’t pretend to know who burns cathedrals or stages fake whale tusk fights on bridges or arranges for bogus climate reportage and statistics. I can work out that there are plenty of powerful people with an interest in division, chaos, demographic shock, social erosion and the destruction of families, communities, traditions and borders. That much is clear. Some believe it is just stuff that happens and which can be stopped by voting for someone or other. As a conspiracy theorist and switcher-off of refuse media, I see agency and purpose.

    Of course G-S are not interested in “carbon” or climate. Like Enron and Lehman before them, they yearn fora a tax on a fragment of thin air. A bankster’s wet dream. So straight-out plunder is one motive.

    But there is that other motive, the big one. Some people don’t need to make money. Negative interest rates are the result of debt engineering and money printing which they allow. (Know any mega-corporations who just get bigger and bigger without making profits but whose areas of service involve information gathering and state-proxy activities?) Beyond plunder (which the sane can grasp), there is the lust for total control (which the sane cannot grasp, because they’re sane, duh).

    Sorry to sound really potty here, but…we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world.

    Our advantage is that these powers are not sane. They may be very bright, have boundless influence, have enormous charm…but they are insane. Globalists are insane. They have to lose, but, as we know from a previous century, they can do a lot of damage while they lose.

    Stop globalism. Do tradition, family, privacy, property. Do coal.

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    • #

      So straight-out plunder is one motive.

      And therein lies the crux of it ….. money, and the pursuit of it.

      Get the Government to introduce a tax on CO2, the ubiquitous Carbon Tax.

      It has absolutely ZERO to do with saving the World from overheating. It’s just about the money.

      It’s not the Corporations who pay for it, because enshrined in the law to implement it in the first place is that the cost ….. the WHOLE cost is passed down to the consumer, ….. you and me of the general public.

      We pay that cost, and then, all the way up the line, the money men all take their cut.

      But ….. WE are the ones who pay for it. Our money transferred to others, and we get NOTHING for it.

      How cool is that. Ends achieved. Means in place.

      Tony.

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      • #
        TdeF

        You must feel for the Gilets Jaune in France. They were told to buy diesel to reduce ‘carbon pollution’ from gasoline. Now every time they drive through a big town they are fined for pollution. The government though made a mistake in forcing them to buy the yellow vests. It unites them, symbolic of the eternal greed of government by the elites and bankers like Macron.

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    Maptram

    “Rising temperatures would lead to changing disease patterns, more intense and longer-lasting heatwaves, more destructive weather events, and pressure on the availability and quality of water for drinking and agriculture.”

    Haven’t seen or heard of anyone blaming climate change for the Samoan measles epidemic for which the statement of emergency has been lifted.

    https://www.bbc.com/news/world-asia-50938250

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  • #
    Ronald Bruce

    In the event that Goldman Sachs was able to accomplish this feat and rip trillions of dollars from the public purse this will inevitably cause the world’s economy to collapse and with it Goldman Sachs. If I had shares in Goldman Sachs or any of their associated companies I would sell them immediately because in the not-too-distant future they will be as worthless as the climate change a scam is.
    Always follow the money, they’re only in it for the money, they don’t give a damn about the climate not that the climate is a problem anyway, because it is still about the money.

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  • #
    Zane

    Collateralized carbon offset obligations! Rated AAAA! Translation: give the vampire squid your money.

    40

  • #
    pat

    when trillions of dollars are at stake in the 2020 US presidential election, every little thing makes you go hmmmm! Epstein is a Democrat who voted for Clinton. pic of them together in the article:

    30 Dec: Daily Mail: Wife, 29, of Google whistleblower who exposed meddling in the 2016 election is killed in a car crash after ‘she lost control and veered into the path of a tractor-trailer’
    •Google whistleblower, Robert Epstein, 66, announced passing of his wife Friday
    •Epstein, a psychology professor, has criticized Google’s operations and ethics
    •He testified that Google’s algorithm gave 2.6 million votes to Hillary Clinton
    By Valerie Edwards
    Epstein, a psychology professor at the American Institute for Behavioral Research and Technology, concluded that Google’s search methods ‘gave’ millions of votes to Hillary Clinton during the 2016 presidential election.
    In July, Epstein outlined his claims under questioning by Sen Ted Cruz of Texas, who had at one time been President Donald Trump’s chief primary challenger.
    ‘I know the number of votes that shifted because I have conducted dozens of controlled experiments in the US and other countries that measure precisely how opinions and votes shift when search results favor one candidate, cause, or company,’ Epstein testified.
    Epstein testified that Google’s search techniques ‘shifted at least 2.6 millions votes to Clinton.
    He said he analyzed 13,000 election-related searches from the campaign and that they were ‘significantly biased in favor of Secretary Clinton’.
    Epstein said he ‘conducted dozens of controlled experiments that measure how opinions shift when search results are biased.
    ‘I call this shift “SEME” – the Search Engine Manipulation Effect,’ he said…

    However, even without getting into whether it is possible for a search engine to change individual voter preferences, Epstein testified that as many as 15 million votes could be impacted in 2020.
    Epstein also claimed Google’s ‘Go Vote’ display gave an 800,000 vote advantage to the Democratic Party…

    About a month after his testimony, Epstein shared an article that claimed he had been ‘killed’ by a Google Street View vehicle.
    ‘And lots of you keep warning me that my life is in danger. I sure hope that isn’t true. Anyway, I was already killed by a #Google Street View vehicle back in 2014!’ Epstein wrote.
    The tweet was accompanied by a link to the Huffington Post article that claimed he died on July 19, 2014, after being struck by the vehicle while crossing Front Street in San Diego…
    https://www.dailymail.co.uk/news/article-7834593/Google-whistleblowers-wife-29-killed-car-crash.html

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    • #
      truth

      Shades of Seth Rich…and it could happen to Julian Assange if our government allows him to be extradicted.

      The American legal system as it operates now is not safe for anyone no matter how innocent…if they’re perceived to be any threat at all to the LEFT…IMO.

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      • #
        Greebo

        The Grand Jury system, particularly in California, would have to be one of the most sinister state apparatuses ever seen in the West. Up until the Pelosi led Congress, that is.

        40

  • #
    Peter Fitzroy

    Goldman Sachs identify a risk in some classes of long term investments, mostly to do with fossil fuel, and at the same time identify opportunities in other classes, A little bit of virtual signalling as icing, and they are set.

    The underlying fact is that AGW is presenting both opportunities and risks and Goldman are responding to that.

    Australia is burning, hat are you going to do when insurance gets up?

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    • #
      robert rosicka

      As long as the government subsidies are there the risks are few and the rewards are many .

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    • #

      So, Fitzroy,

      I’ve been wrong about you all along.

      You really do have the answer. Oh frabjous day, thank you so much

      So, we pay Goldman Sachs millions billions trillions of our money ….. and the fires just stop.

      Well done you!

      Tony.

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      • #
        Peter Fitzroy

        and Your solution is?

        By they way it was 20C at 4 am. A stat which makes as much sense as anything you have posted, ever

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        • #

          I didn’t know you lived here in Beenleigh!

          Tony.

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        • #
          Dennis

          How not unusual for Summer.

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        • #
          el gordo

          Hobart just broke a heat record, sweltering through it’s hottest December day in 122 years. Its a global cooling signal.

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        • #
          Sceptical Sam

          Peter says:

          and Your solution is?

          Peter, you just don’t listen or learn do you.

          The solution is very clear:

          Cool burns. Regularly. Every year during the cooler months. On a rolling 12 year program.

          Manage the National Parks, wildlife reserves, nature reserves and locked down state forests like a responsible land manager would. Get the green sycophants out of the way.

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          • #
            Peter Fitzroy

            Ecologically speaking that is tripe.
            70% of all fires are on private land, like the one deliberately lit down near PeterW’s patch, which is now a major fire.

            A better answer would be
            With AGW, fires (and this applies to the USA, tundra, Amazon etc) will be worse, and the fire seasons longer. This is in-line it’s the predictions made in the 80’s and 90’s by the CSIRO. Therefore the response must be in-line with the risk. There was time to act, but the fact to many anti-science views where pushed as ‘balance’ would make make those who accepted those views culpable for the damage caused

            14

      • #
        Another Ian

        Tony

        Then if those FUM** Brand matches were cheaper they might actually light a fire?

        (FUM = “f’in useless matches”, Red Head being a good example locally)

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    • #
      robert rosicka

      Poiter which fires currently burning in Australia were started by climate change ?

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  • #
    pat

    26 Dec: EnergyWorld(EconomicTimesIndia): ANI: India needs to de-risk private sector investments, develop suitable carbon pricing instrument: PwC
    New Delhi: India can consider developing a robust domestic emission trading system where the private sector participates and sells retroactive, current and future credits, according to global consulting firm PricewaterhouseCoopers (PwC).
    Besides, there is a need for continued efforts to de-risk and encourage private sector investment in low-carbon technologies, it said in a report titled ‘Shades of Green: Reflections on COP25.’…

    Policy interventions (for example standardisation of bid criteria) and financial instruments (for example loan guarantees) are required to ensure increased private sector participation…READ ON
    https://energy.economictimes.indiatimes.com/news/power/india-needs-to-de-risk-private-sector-investments-develop-suitable-carbon-pricing-instrument-pwc/72973535

    28 Dec: SouthChinaMorningPost: Will China’s new climate negotiator Zhao Yingmin be a breath of fresh air?
    by Echo Xie
    The failure to reach agreement at the UN talks in Madrid this month is likely to heighten calls for someone to take the lead after the United States pulled out of a global agreement to limit emissions…

    But his new brief brings with it an even greater set of challenges after the Madrid talks ended without agreement on some of the most urgent items on the agenda.
    These include establishing a new international market for the trading of carbon permits, paying for climate-related loss and damage and building a long-term climate fund for developing countries…

    While China’s approach to tackling climate change has generally been viewed favourably by the rest of the world – one of the few areas where it has received a positive response in recent years – recent shifts back to coal production and its rising carbon emissions mean that perceptions could change quickly…

    What China does or does not do in 2020 will largely shape China’s image abroad. If China doesn’t grasp this opportunity, the international narrative on China’s climate actions ***might undergo a systematic change,” Li Shuo, a senior global policy adviser with Greenpeace East Asia, said…

    Greenpeace’s Li said the hundred million dollar question was whether China would stick to its climate commitments next year, adding that it also needed to promote its domestic carbon trading system and green finance schemes…
    https://www.scmp.com/print/news/china/politics/article/3043777/will-chinas-new-climate-negotiator-zhao-yingmin-be-breath-fresh

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  • #
    pat

    29 Dec: UK Times: Turbines spread amid £127m bill
    Scottish wind farms are the main beneficiary of compensation as the network is unable to cope with the power produced
    by Mark Macaskill
    Scottish ministers have been accused of an “irresponsible” dash for green energy as new data reveals that wind farms have expanded while being paid record sums of money to power down turbines.
    This year, the operators of 86 wind farms across Britain were handed more than £136m in constraint payments to reduce output and discard surplus energy, a new annual record and £12m more than was paid in 2018.

    Most of the compensation (£127m) was paid to Scottish onshore wind farms, including several that have either extended in recent years — with the Scottish government’s approval — or are seeking permission to do so.
    Such constraint payments are paid out by the National Grid but ultimately charged to consumers and added to electricity bills.

    Alexander Burnett, the Scottish Conservative energy spokesman, said: “The fact that the SNP are still allowing windfarms to expand despite this staggeringly high level of constraint payments already in operation is astonishing. Indeed, this absurd situation simply demonstrates the foolishness of the SNP’s renewable energy policy.”

    Paul Wheelhouse, the energy minister, said constraint payments will fall as investment in the grid increases. “Adding more demand load onto the grid, as we electrify Scotland’s own transport and heating systems, will also reduce the need for constraint payments. The importance of continued grid investment to facilitate transmission cannot be overstated and this need featured in our Networks Vision Statement which we published earlier this year.”…
    https://www.thetimes.co.uk/edition/scotland/turbines-spread-amid-127m-bill-b3v50pxgf

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    pat

    29 Dec: UK Times: BP chief: climate fears driving young people to antidepressants
    by Oliver Shah, Business Editor
    The outgoing boss of the fossil fuel giant BP has revealed that some of his daughter’s friends are on antidepressants because they are so worried about climate change.
    Bob Dudley, who is to step down as chief executive in February, said he hated “to see young people so unhappy, so anxious” about the impact of rising carbon emissions on the environment.
    BP, which produces the equivalent of 3.7m barrels of oil a day, is directly and indirectly responsible for up to 491m tons of carbon emissions a year, more than the UK’s total greenhouse gas emissions. It has been the target of Extinction Rebellion protesters and dropped as a sponsor by the Royal Shakespeare Company and National Galleries Scotland.

    Dudley, 64, said his daughter, a social worker in California, would ask him: “How you can work for a company that in five years won’t be selling petrol?”…
    https://www.thetimes.co.uk/edition/news/bp-chief-young-take-anxiety-pills-for-climate-change-fears-bmrdqqdb5

    29 Dec: UK Times: BP boss Bob Dudley says a green future is years away
    Activists are oversimplifying climate crisis, warns Bob Dudley
    by Oliver Shah
    BP’s retiring chief executive has accused campaigners and politicians of oversimplifying the climate change crisis, arguing that natural gas should be a bridge between fossil fuels and renewables.

    ***Bob Dudley, due to step down in February after almost 10 years in charge, said it was “hard to find people who understand the complexity of the energy system” and warned the world would “not even come close” to replacing fossil fuels with renewables in the next two decades…
    https://www.thetimes.co.uk/edition/business/bp-boss-bob-dudley-says-a-green-future-is-years-away-xtt2d0h95

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    Brad

    I’m trying to find out if natural forestation/ vegetation is included when calculating a nations net CO2 emissions. As far as I can tell only reforestation is included and naturally occurring vegetation is ignored in Australia’s approximate 550mil tonne net emissions. Is this correct? And if so, why isn’t all vegetation included?

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    • #

      Mature forests and bushland are theoretically in a perpetual state of maintaining their carbon content. Even though there are fires, it will grow back. It’s only permanent clearing or regrowth after clearing that makes a difference. That’s why natural fully grown vegetation is assumed to be net zero in the long run.

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      • #
        Graeme Bird

        “Mature forests and bushland are theoretically in a perpetual state of maintaining their carbon content.” Right they don’t go on interring carbon very much. They cannot constitute an infinite carbon sink.

        Hydrated Silvopasture with lots of grasses is the way if you wanted to intern carbon. Or Savannahs. People talk a lot about “Oak Savannahs” as the ideal soil production vehicle. But its not dependent on just the one tree species. Because with grasses you can get the soil up to (lets say) 15% organic matter and you can keep laying down more soil. Grasses on their own constitute too much of a vulnerable ecosystem. They can dry up the next time you have a drought. Just as a simplified model, If you put a swale in, with a row of trees either side, for every three metres of altitude … then grasses in between, thats where you could get really good and continual soil development and therefore carbon internment. Carbon internment in the trees alone has short legs. In sober reality a waste of effort. But carbon internment in the soil is potentially infinite. But you have to harvest the water, before you harvest the carbon.

        This is not to say that carbon internment is a worthy undertaking. But I think that soil development and land hydration are worthy undertakings. And very few people are on top of the great power of the swales. So much more of a significant technology than drip-irrigation. And barely utilised.

        One thing that really annoys me is this nonsense about beef causing global warming via methane. If these people were serious about carbon internment they would see herbivores as their best friends. That black cow dung does not result from a special cow dye. Its all carbon and the cow is the ideal vehicle for carbon internment, should we decide that this is a good idea, or soil development if we are more concerned with soil loss.

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      beowulf

      And is timber harvested in logging operations counted as CO2 sequestration when it is turned into houses and dining tables and pallets, or for that matter into paper pulp that gets re-cycled continuously with the addition of new pulp, and thus taken out of the carbon cycle? And what of old timber/paper buried anaerobically in landfill that lasts underground for many decades of CO2 sequestration?

      Does the IPCC consider heavy forest fuel loads to be a form of CO2 sequestration? Are they therefore untouchable?

      And how about the charcoal created by all the bushfires that ends up incorporated into the topsoil, tying up all that deadly carbon, and promoting microbial and plant activity that locally draws down CO2 levels? Soil carbon (bio-char) is the coming thing in agriculture these days with many of our soils depleted of C. And if it isn’t charcoal, what about stubble or green manure crops ploughed in to increase soil carbon and bio-activity? And how about the grain and sugar crops, and livestock we grow and sell overseas — is their CO2 (for growing, transporting and that released when the food is metabolised) tacked onto our CO2 tally in the same way that our coal exports are counted against us when it is burned overseas?

      And why is CO2 from bushfires — lit by whatever source — not counted in our CO2 tally, yet CO2 from the exact same patch of bush is counted if it derives from a hazard reduction burn (according to Peta Credlin)? And is the Burning Continent treated in CO2 accounting the same as say Norway when we have always had massive natural fires here? They didn’t suddenly spring up in the last 30 years. They are a necessary part of many of our ecosystems. Australia will burn, with or without human control.

      And why is the fact that the entire continent is verifiably a massive CO2 sink not included in CO2 accounting? The world should be paying us billions per year to bury their CO2 for them.

      And why the hell are we still signed up to this Paris farce and its rubbery CO2 accounting by this fence-sitting PM?

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        John F. Hultquist

        paper pulp that gets re-cycled continuously

        We used to be able to re-cycle paper. No longer.
        It either goes to a landfill, or perhaps, to a thermal electric facility (rare).
        Our local re-cycle place (for paper) was operated by a charity that employed
        a few otherwise unemployable folks. They sorted and bundled paper types.
        This place closed about 3 years ago.
        Waste type thermal facilities are rare because they need a large catchment
        region to have a large and continuous supply of fuel. The nearest one to our
        county is a 3 hour drive, so the transport costs consume the benefit.

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        Kalm Keith

        Pseudoscience, Pseudopolitics and Pseudogovernment with real micromanagement and slavery for the plebs.

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    pat

    26 Dec: UK Telegraph: Oven-ready climate change plan turns up heat on polluters
    by Ambrose Evans Pritchard
    Economics are at the heart of a US initiative that would tap market forces to promote a greener future
    In deference to Christmas optimism, here is a beautifully simple answer to global climate change, backed by 27 Nobel economists and the United States policy firmament from Keynesian Left to Monetarist Right.
    It is guided by market principles. It reduces the role of the state. It does not shaft the poor. It is easy to enforce. It is oven-ready, to borrow the phrase du jour.

    This initiative by the Citizens Climate Lobby has the support of Democrats and Republicans in Congress. It has been endorsed by Alan Greenspan, the late Paul Volcker, and Nobel laureate Myron Scholes in the free market camp, and Janet Yellen, Amartya Sen, and Larry Summers on the interventionist side…
    https://www.telegraph.co.uk/business/2019/12/26/oven-ready-climate-change-plan-turns-heat-polluters/

    Paul Homewood has the full text…plus a critique:

    27 Dec: Paul Homewood: AEP’s Carbon Tax Fantasy
    Ambrose is away with the fairies again!…
    (FULL TEXT)

    The flaws are so obvious that I should not have to explain them again, but here goes…READ ALL
    https://notalotofpeopleknowthat.wordpress.com/2019/12/27/aeps-carbon-tax-fantasy/

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    truth

    If the scientific organisations and the governments who claim to trust them truly believed that earth was warming catastrophically and CO2 was overwhelmingly the driver…would they not want to have the populations in each country informed…trusting and onside….considering what was to be required of them?

    Would they not want the people to trust that they were being told the truth ?

    Instead …the people were treated like idiot pawns….told to shut up about the science ….then told they must lose sovereignty…lose security of all kinds…lose their lifestyle…lose their 1st world safety nets so that …in Australia…if their children were in need of lifesaving PBS drugs they would just have to lose their lives because the transition to 3rd world Australia for the would preclude such massively expensive comforts.

    Their only global DIKTAT should have been that all raw temperature data …along with methods and practices used…be kept safe and sacrosanct for FOI access by all researchers…and that the tenets and practices of scientific research be maintained and strengthened…not abandoned in favor of social ‘science’ hocus pocus in the form of post-normal science and other voodoo activism.

    If sincere they would have immediately shut down or begun to…the practices and impacts [ totally unrelated to CO2] known to produce global warming eg burning of biomass for various reasons in developing countries…but especially the burning of rainforests to make way for palm oil plantations and soy crops.

    They would have admitted back then…and certainly after scientists’ testimony to Congress in 2010… that the soot deposited on polar ice, glaciers and permafrost from those fires….and the reduction in earth’s albedo that it causes… was responsible for up to half the declared GW…that its mitigation was relatively easy …for almost immediate effect.

    Because it was a Global Socialist political imperative that ONLY CO2 be blamed…they instead allowed European countries to burn biomass like there’s no tomorrow and ..not count it …despite the fact that biomass emissions are greater than those of coal plants….and they just let the humungous soot blanket grow.

    If sincere they would have mandated hazard reduction in bushfire-prone areas instead of severely and militantly curtailing it….ensuring more soot from the fires they now own… that they of course blame on CO2 from coal.

    If sincere they would have opened the science to all genuine scientists who wanted to research it…[excluding social ‘scientists’]…instead of shutting it down.

    If sincere …instead of trashing education and flogging jabberwocks instead…[ in Australia] they would have stepped up the academic rigor of the education system….and given a thereby educated people the maximum verifiable information …from scientific organisations that were required to stand by their evidence to the extent of agreeing to audits and other investigations where warranted.

    If sincere they would have strengthened the integrity of peer review in the interests of trust.
    Instead they allowed the CAGW Left to become the gatekeepers of a corrupted peer review process …to promote alarmist research ….with alternative views frozen out.

    If sincere…they would never have shut down the science with an ant-science consensus declaration…before research into clouds and their feedback was even done…before the powerful oscillations were comprehensively researched…before it was possible to reliably measure the temperature of 70% of the globe…ie oceans…before sensitivity of climate to a doubling of CO2 was known…..with the coverage and reliability of land temperature measurement hugely contested…with massive swathes of the earth’s land surface not measured at all or subject to wars and mayhem that precluded precise measurement of anything..eg the huge areas of China that were the slaughter fields of the Cultural Revolution….likewise of the massive Soviet Union with its pogroms and forced famines.

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    Hivemind

    Have I got a deal scam for you.

    I notice that they aren’t using their own money.

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    brent

    Paulson takes on China and climate change
    September 19, 2008
    One thing Paulson makes clear is that it’s in everyone’s interest to promote clean technology and energy efficiency in China, to curb global warming. According to Paulson, if China today was as efficient in its use of energy as the U.S. was in 1970, it would save the equivalent of 16 million barrels of oil a day, or almost 10% of the world’s daily oil consumption.
    All of the world must learn to make do with less, he argues. “There simply are not enough energy resources to allow the world’s entire population, or even the third of it represented by the Chinese, to lead the resource-intensive lifestyle that Americans currently enjoy,” Paulson says.
    Paulson’s an environmentalist – he is the former chair of the Nature Conservancy and the reason why Goldman Sachs, under his watch, became the first investment bank to call for federal regulation of greenhouse gases.
    http://archive.fortune.com/2008/09/19/news/economy/gunther_paulson.fortune/index.htm?postversion=2008091916

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    • #
      brent

      Wall St. sets the stage for the next Big Heist
      12/29/2008

      As in all schemes brought to life by Government office, the first question that begs to be asked is Qui Bono? When a Carbon Tax or a Carbon Cap and Share program is announced the one thing that can be assumed is that it will be designed to make money for those who usually make the money all along. To believe that Washington or London have developed a more altruistic nature and suddenly want to save the world, is to deny decades of Political and economic history. The road to discovering the real truth behind the plan is to follow the money, the players and the science.
      Snip
      If we assume that Global Warming is indeed a political potpourri of half truths and lies, then we have to see why so much trouble has gone in to its creation. One simple answer? Money. When we look at the campaign donors to Obama’s campaign, you could be forgiven your inevitable cynicism when we see the list contains the biggest players on Wall St. (Click image to enlarge)
      http://tinyurl.com/7qgfww

      Bootlegger-Baptist coalition
      Rent-seeking in Washington is a highly developed art-form and when really humungous amounts of money are involved, it is always the case that a Baptist-bootlegger coalition has been put together to get the necessary legislation through Congress
      http://www.lavoisier.com.au/articles/climate-policy/politics/evans2002-2.php

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    Zane

    Climate change is basically a gigantic swindle, and like all swindles, money is at the core of it. Unfortunately various political bodies are also riding the scam in a big way, trying to achieve further power and influence for their own ends and to reward their elites. Think UN, Brussels, Democrats etc.

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    RoHa

    What nasty, suspicious, cynical minds you all have!

    I’m sure that nice Mr Goldman and nice Mr Sachs are only thinking of what’s best for us, just as they have always done.

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      hatband

      Only a bigot would ever say or think otherwise.

      However, the Government, not to mention the Science Establishment, are lying sacks.

      And, if they’re lying about the necessity of blowing up the Power Grid, one wonders what other lies they’ve told

      over the centuries.

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    MarkMcD

    Just curious… WHOSE money is Goldman Sachs pledging? I’m betting the 750 $Billion isn’t coming from their personal account but instead is some kind of gamble using the money from their clients.

    And when that money goes where the bailout money went, I’m betting it’s the clients that take a loss.

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    DonS

    This is a bit off this topic but….

    I just watched a news report on Sky Australia that claimed that the reason the temperatures in Sydney today did not get to some highest since forever and ever was because the smoke haze blocked the sun light! Have we reached peak stupidity yet?

    That’s right folks no longer is surface temperature a function of season, wind direction, wind strength, humidity cloud cover etc. but smoke haze is the critical factor. If this crap was issued to the news organisations from the BOM then it needs an urgent independent audit.

    On the plus side we now know how to reduce global warming, just set the bush alight! Instead of jailing fire bugs we should give them a box of matches and let’em go at it. Perhaps Goldman Sachs could even fund their activity given that they are sooooo concerned about the climate :)

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    Phillip Bratby

    Is it possible that you have spelt bankers incorrectly?

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    • #
      Sceptical Sam

      Yep.

      When we in Western Australian had a local bank named Bank West, the local signwriter got the capital letters the wrong way round.

      Is that what you mean?

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    george1st:)

    The best way to combat/adapt for climate change is with more air conditioners with 24/7/365 cheap power .

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  • #
    George4

    Just watched an interesting documentary on ABC -
    Y2k: The Bug That Didn’t Bite.

    What a con job that was, with a lot of companies getting rich by spreading the hysteria.
    Our government and media jumped aboard for the ride.
    The documentary did actually talk about the similarities with the climate change industry.

    https://iview.abc.net.au/show/y2k-the-bug-that-didn-t-bite

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    • #
      Another Ian

      Another one

      “Badtimes Virus Alert

      If you receive an email entitled “Badtimes,” delete it immediately. Do not open it. Apparently this one is pretty nasty.
      It will not only erase everything on your hard drive, but it will also delete anything on disks within 20 feet of your computer.
      It demagnetizes the stripes on ALL of your credit cards.
      It reprograms your ATM access code, screws up the tracking on your VCR and uses subspace field harmonics to scratch any CD’s you attempt to play.
      It will re-calibrate your refrigerator’s coolness settings so all your ice cream melts and your milk curdles.
      It will program your phone autodial to call only your ex-wife/husband’s number.
      This virus will mix antifreeze into your fish tank. It will drink all your beer. It will leave dirty socks on the coffee table when you are expecting company.
      It will rewrite your backup files, changing all your active verbs to passive tense and incorporating undetectable misspellings which grossly change the interpretations of key sentences.
      If the “Badtimes” message is opened in a Windows 95 environment, it’ll leave the toilet seat up and leave your hair dryer plugged in dangerously close to a full bathtub.
      It will not only remove the forbidden tags from your mattresses and pillows, but it will also refill your skim milk with whole milk.
      It will replace all your luncheon meat with Spam.
      It will molecularly rearrange your cologne or perfume, causing it to smell like dill pickles.
      It is insidious and subtle. It is dangerous and terrifying to behold. It is also a rather interesting shade of mauve.
      These are just a few signs of infection.”

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    pat

    during the rain break at the Big Bash, this was on Aljaz. presented by Mehdi Hasan, ex-New Statesman & HuffPo UK, regular on BBC. Hasan doesn’t begin with disclosure gas-exporting Qatar (owners of Aljazeera) is a major beneficiary of “climate” policies, nor does he ask long-time “climate activist” Xiuhtezcatl who is behind the children’s lawsuit of which he is part (James Hansen, Jeffrey Sachs?).
    As for Xiuhtezcatl, he sees himself as a victim, ignoring the jet-setting life he has led for years, and never wondering why he is given so much air-time & credibility by the FakeNewsMSM:

    VIDEO: 24m54s: 27 Dec: Aljazeera: Climate change, Indigenous activism and the fight for justice
    We discuss how to solve the climate crisis with activists Xiuhtezcatl Martinez and Vandana Shiva.
    Indigenous Mexican-American activist Xiuhtezcatl Martinez has been campaigning against climate change since he was six years old. He says now, more than ever, Indigenous voices are being recognised.

    “Every part of the crisis is directly connected to social justice, to racial justice, to the human rights violations that are happening … and now, more than ever, there is a recognition of the need of indigenous communities’ voices being at the forefront,” Martinez said.

    Martinez, along with 20 other activists, is suing the US federal government for climate inaction.
    He was also involved in another lawsuit against the fracking industry in Colorado, a case he lost. Despite this, Martinez says he remains positive that “people power” can overcome big money.
    “I think the power of people is being recognised as an unstoppable force, both with the mobilisation of bodies on the streets, the mobilisation in our courts, the way that we are taking to the polls,” he said…

    Shiva also says there needs to be a global conservation goal.
    “We [do] need a Green New Deal with the earth, remembering that the earth is alive, and we have to work with her laws and processes to protect her species diversity, avoid the sixth mass extinction, and avoid climate catastrophe,” Shiva said…
    https://www.aljazeera.com/programmes/upfront/2019/12/climate-change-indigenous-activism-fight-justice-191210001830786.html

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    TdeF

    It was a news item on Breitbart, that Delhi/New Delhi just had their coldest December in 120 years. That’s measuring maximum temperatures, not average. That will have to vanish as it pulls down the averages. Perhaps our very own BOM can advise on homogenization? We are probably the world experts in making cold go away and maximizing the heat, especially in old records.

    You would wonder why this amazing news does not appear in the media generally? Also last year when the government of tropical Bangladesh had to hand out hundreds of thousands of blankets to prevent people freezing. And the year before when it snowed in Cairo.

    As in the selling of indulgences, only heat terrifies enough to get people to part with their money. And when is this mass starvation from Climate Change going to start, as as despite two world wars and 50% more CO2, the world population has increased from 1.6 Billion in 1900 to over 7 Billion in 2020. It’s as if CO2 is feeding everyone.

    Now why would world crop production correlate with CO2 levels? Obviously just accidental, not causality.

    Goldmann Sachs thinks Climate Change is going to be the biggest money spinner in modern history. I would have to tell them that is old news. Former Liberal leaders John Hewson and Australian Goldmann Sachs MD Malcolm Turnbull already knew it. And PM Scott Morrison is quietly ignoring it all. And the deputy Premier of NSW says the New Years Eve fireworks should not go ahead, to save money. Now how does that work?

    There is a world of unreality about undefined Climate Change. The loonies are lecturing everyone. And a 16 year old school dropout can see carbon dioxide and has lectured both the UN and COP25 about what b*stards they are. And they applauded.

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    John F. Hultquist

    Peter Fitzroy,
    Your fascination with fire is interesting!
    One of the most amazing fires I’ve seen was a building fire in Iowa City, Iowa. The temp was about -25°C (-10°F) and the next morning there was ice, nearly knee deep, on the streets. Fire crew clamped hoses to parking meters so they could step back and get out of the icy mist.
    We watched this from a nearby pub, and went home about 1 AM.
    You would have loved this Peter. Global warming at its best!

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    Philip of Taos

    I want to see the Audit of How the money is spent, when will that be available?????

    10