JoNova

A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).


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The Skeptics Handbook

Think it has been debunked? See here.

The Skeptics Handbook II

Climate Money Paper


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The nerds have the numbers on precious metals investments on the ASX



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UN Green Climate Fund: good for bankers, bureaucrats, but not so much the poor

UN Green Climate Fund (GCF) — nice rort if you can get it

The UN climate fund was set up in 2010 but has yet to send a single dollar of project money to its star sinking island (which isn’t sinking, but is poor).

The NY Times has a long article describing how billions of dollars is being spent, but somehow it seems to be going to the wrong places. Given the lack of accountability, voters, and elections, who could have seen that coming?

The  GCF GONGO is ruled by a Board of 24 people who jetset to Korea, hand out other people’s money, and get applause. In 2012 they were seeking immunity from all laws and taxes. Presumably they succeeded. In 2014, they were caught funding a new coal power station in Indonesia to reduce carbon emissions. I wondered if that was rorting, cronyism, or ‘success’. Greens were not happy. Now we find out that the rest of the money is ending up with the renewables industry, investment bankers, and bureaucrats:

U.N. Climate Fund Promised Billions to Poor Nations. For Some, the Wait Is Long.

Transparency, not so good:

The observers took issue, [...]

EU blows £520m on carbon capture project that stored no carbon

It takes a really big government to waste money on a scale like this

Carbon capture aims to stuff a harmless fertilizer underground in order to change the weather. With CCS, the hard part is deciding which obstacle is the most stupidly unachievable. One ton of solid coal generates nearly three tons of CO2 in a puffy, fluffy, expanded gas form. It doesn’t take a genius to know it won’t fit back into the same hole. And even if you get it down there, it may not stay there. The gas has to be compressed, or refrigerated (or both). Underground holes are hot.  Not surprisingly, this takes a lot of energy, so that to build a coal plant with the capability to “store CO2″ we must spend 60% more dollars, and then throw away 40% of the electricity as well.

You, I, global business, practically no one would spend their own money on it. The geniuses planning it thought the carbon price would rise from 30 euros to 100 euros which would make it a goer. Instead the carbon credit price feel to seven. (And that’s only after the EU propped it up.)

EUObserver spotted this CCS bonfire. I read [...]

Greens, the baseload deniers, want $2.2b for bandaid batteries to keep junk renewables alive

The Greens are now asking for another $2.2billion to pay for the battery bandaid to fix a problem they and the leeching renewables industry created.

Adam Bandt is out today with the big new plan, apparently confused about what “load” means:

We don’t have a baseload problem, we have a peak load problem,” Mr Bandt said.

No matter how you look at this, it’s not a “load” problem. It’s an issue of supply.

We can count on the Greens to pour confusion on any problem:

“We need flexible generation and energy storage to manage the transition, not more coal.”

Four mistakes in one sentence. We have flexible generation – more than enough to cope with the current load curve. What we need is affordable electricity, which we used to have, and which coal supplies. What we don’t  need is energy storage to manage an irrelevant transition that we never had to have in the first place. Let me say it again, electricity generators are for generating electricity, not for magical attempts to control the climate.

What Adam Bandt  was trying to say:

“We The freeloading renewables industry needs flexible generation and energy storage to [...]

Climate bargain, going cheap! Pay now, save $Trillions, stop Storms, Droughts, Bad Stuff. Ends today!

Hurry Now and Save Trillions! A 500 trillion, gazillion dollar bill is coming for you unless you buy my solar-panel-techno-wind-battery gizmo NOW! Don’t miss out. You too, can be a world saving star for a bargain price. Free planet with nice weather thrown in. Offer ends at midnight.

Seriously, have you always wanted to stop storms, vermin, disease, plagues, hunger, poverty, droughts, floods, and shrinking fish and chips?

All of this and much more if you just pay up now, pay today, pay tomorrow, and hock your children’s future.

Hands up who wants to be a hero?

Who needs an economist to calculate the biggest bill you’ve ever seen? (It’s a record, the Largest Ever Bill in Four Million Years! )

World’s young face $535 trillion bill for climate

The next generation will have to pay a $535 trillion bill to tackle climate change, relying on unproven and speculative technology.

LONDON, 19 July, 2017 – One of the world’s most famous climate scientists has just calculated the financial burden that tomorrow’s young citizens will face to keep the globe at a habitable temperature and contain global warming and climate change – a $535 trillion bill.

And much of [...]

Innovative taxes needed to “find” $300 billion pa for climate damage

In socialistspeak people don’t produce goods to make money, they “find” money lying around the crysanthymums or something, because $300,000,000,000 dollars didn’t have anywhere else to be.

Innovative finance needed to find $300 billion a year for climate losses

And what if the solar dynamo drives climate change instead?

Tax the Sun.

My climate prediction: Global climate reparations are going to employ 100 million accountants.

By Laurie Goering

LONDON (Thomson Reuters Foundation) – With money for action on climate change already in short supply, an estimated $300 billion a year needed to help countries deal with unavoidable climate losses will have to come from innovative new sources, such as a financial transaction tax or carbon tax, researchers say.

Funding for such climate “loss and damage” aims to assist people who lose their land to sea level rise, for instance, or are forced to migrate as drought makes growing crops impossible in some regions.

“What stands out most clearly is that there isn’t currently enough funding to even begin thinking about financing loss and damage, with available climate, development, risk reduction and disaster recovery financing all falling short by an order of magnitude,” said researchers at [...]

EU countries used €600 million climate loophole worth extra “114 million cars”

Taxing a basic molecule of life on Earth was never going to be easy.

Leaked paper exposes EU abuse of climate loophole

EXCLUSIVE/ European Union countries exploited loopholes in United Nations forestry rules to pocket carbon credits worth €600 million and the equivalent of global-warming emissions from 114 million cars.

That’s slightly more cars than exist in Germany, France and Italy combined.

You will not believe, governments overstated their logging targets then claimed credits for the forests they didn’t cut down, and the EU paid them for it.

Just saving the world, one lie at a time.

The document said that leaving the loophole open risked 133 million tonnes of unearned carbon credits falling into governments hands.

133 million tonnes is worth €665 million at today’s carbon price and is equivalent to 127 million cars on the road.

It’s a market based on intentions instead of a product. What could possibly go wrong?

Climate-Dollar bragging is over: funding goes underground to avoid “climate-axe”.

Once upon a time governments bragged about how much they spent on “climate change”. Every Climate Quiz or tin-pot-program to insulate a chicken-run was wrapped under the Climate Action banner so that politicians could claim they were saving the world. Nowadays voters have voted for the guy who called it a hoax,  and the funding’s gone underground because he was going to boast about how much climate funding he’d cut.

When I wrote Climate Money in 2009, a lot of the spending was already documented, under the Climate Change Science Program or by the GAO. How times have changed.

To Protect Climate Money, Obama Stashed It Where It’s Hard to Find

 President Donald Trump will find the job of reining in spending on climate initiatives made harder by an Obama-era policy of dispersing billions of dollars in programs across dozens of agencies — in part so they couldn’t easily be cut.

Climate change is so important that no one even estimates what the government spends on it:

The last time the Congressional Research Service estimated total federal spending on climate was in 2013. It concluded 18 agencies had climate-related activities, and calculated $77 billion in spending [...]

Big headline climate funds, all puff, no money — Red tape strangles Pacific Islands. No one cares.

Giant climate funds issue giant press releases but not much else.The pledges aren’t being kept, hardly any money is being handed out. The posterchild drowning Islands are being left dangling in danger because the forms are too complicated.

Everyone wants to save the world, but not enough to make the forms simpler: Red tape’ locking small island states out of billions in climate funds

Many small developing countries are so administratively stretched that they cannot fill in all the complex forms needed to access climate money to help them to reduce emissions and adapt to increasing global temperatures, rising sea levels and extreme weather.

Small Pacific Islands will drown in red tape before they drown in a rising ocean:

Although billions of dollars of climate money is theoretically available, in practice red tape and paperwork makes it is extremely hard and slow to get hold of, says the Commonwealth Secretariat, the central institution of the 53 Commonwealth countries, who are among the hardest hit by climate change.

UN priorities? What’s more important — collecting funds to save the Islands, or saving the actual islands…

Fiji’s high commissioner in London, Jitoko Tikolevu, said the process [...]

Climate change is potentially a $7 Trillion dollar money making venture (for bankers)

The tide of money, the vested interests flows

H/t to Eric Worrall at WattsUp.

The current “green” industry is already around $1.5 Trillion a year. Mark Carney, the Governor of the Bank of England said he expects this to grow to $5-7 trillion.

Financial Post: Climate change a $7 trillion funding opportunity

He said that given the enormous funding needs for clean infrastructure — he estimates at somewhere between $5 trillion and $7 trillion a year — investment opportunities will rebound.

 If clean green energy was efficient, cheap and reliable there would be no “funding need” as the market would leap to exploit that opportunity. Instead most leading investors act like they are skeptics. The fact that central bankers are selling it so aggressively says a lot. Perhaps central bankers want to help the poor and save the world, or could it be that the entire financial industry will profit from a fake, forced market and another fiat currency? What are the brokerage fees on a $7T market…

Again we get this “free market” myth:

[Carbon pricing is the cleanest way for markets to judge the tangible exposure to climate change," said Carney

Bring on the climate fraud game? If Exxon can be sued, so can Al Gore, renewables, insurance, banks,

From the Republican Attorney’s General in the US – the message that policing the “global warming debate through the power of the subpoena is a grave mistake.” The Rep AG’s point out this is a public policy debate, and if other AG’s are going to use the subpoena’s to shake down companies like Exxon for supporting free speech on one side of the debate, then suddenly a lot of players are opening themselves to similar cases.

Wall St Journal: Two can play at Climate Fraud

Eric Schneiderman and Sheldon Whitehouse, call your office. The New York Attorney General and Rhode Island Senator who helped to launch the prosecution of dissent on climate change may not like where their project is headed. Thirteen state Attorneys General have sent a letter pointing out that if minimizing the risks of climate change can be prosecuted as “fraud,” then so can statements overstating the dangers of climate change.

Since the money in this debate is so one sided, it follows that a lot more people have profited from exaggerating the scare:

But the AGs’ letter points out that, “If Exxon’s disclosure is deficient, what of the failure of renewable energy [...]