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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Bonanza, not: With govt manipulation carbon credits rise back to 2008 levels

It’s being hailed as a “soaring investment” but it’s just the fake fiat carbon scheme that has been fiddled back to life. The EU ETS market had too many credits and crashed down to 5 Euro or less by 2013. On deaths door, the EU decided to cull a quarter of the credits for the EU ETS every year starting in 2019 and the price predictably went back up. The big success of this unnecessary unfree market is that it has added a tariff to cheap coal to make it just as expensive as gas, and pushed up electricity prices in the EU.

Any illusion of generating economic wealth, or energy efficiency is purely coincidental. There’s no supply and no demand, no extra products or productivity — and without government force, no market at all for imaginary carbon penances. It draws money from every consumer and hands it to gas, and renewables giants, as well as bankers, crooks and VAT Tax cheats. And if this market goes global it’s potentially a $7 Trillion dollar money-making racket for bankers. No wonder HSBC, Deutche Bank, Goldman Sachs, BBVA and Citigroup want to “save the world”.

 Back to 2008:

Government decisions largely [...]

Renewables — the $300 billion dollar vested interest that hardly anyone mentions

Imagine there was a $300 billion dollar industry that depended almost entirely on a pagan belief that cars cause storms, and coal caused floods. Imagine this industry produced nothing that consumers would voluntarily buy unless the government banned cheaper options. Now imagine how much money these investors might be willing to donate to lobby groups, Superpacs, and activists in koala suits. Purely hypothetically…

Global clean energy investment[1] totaled $332.1 billion in 2018, down 8% on 2017. Last year was the fifth in a row in which investment exceeded the $300 billion mark, according to authoritative figures from research company BloombergNEF (BNEF).

Global investment in renewable energy, 2018  | Bloomberg.

With 100% of their income at risk of evaporating if the voters pick the wrong person, or if public faith in the pagan religion starts to wane, these investors have a reason to create a PR campaign that called anyone who questioned the faith an idiot denier, funded by fossil fuels, out of touch, old, white and unfashionable.

Fossil Fuels, on the other hand, wouldn’t need to worry. They’ve tried the solar and wind research already. They know how uncompetitive they are and how people will be using coal [...]

The new $30 Trillion dollar climate wishlist of the same old ideas

There’s a new Christmas fantasy list for Climate-worriers. It’s a New York Times bestselling book (aren’t they all) and people are gushing …because it lists the same old solutions we’ve heard 100 times before, like using wind, solar, go vegetarian, walk to work, and (wait) educate your girls.

The PR material glows like the Sun. Wear your sunglasses and hazmat suit when reading:

Project Drawdown is the most comprehensive plan ever proposed to reverse global warming.We did not make or devise the plan—the plan exists and is being implemented worldwide. It has been difficult to envision this possibility because the focus is overwhelmingly on the impacts of climate change. We gathered a qualified and diverse group of researchers from around the world to identify, research, and model the 100 most substantive, existing solutions to address climate change. What was uncovered is a path forward that can roll back global greenhouse gas emissions within thirty years. The research revealed that humanity has the means and techniques at hand. Nothing new needs to be invented…

Project Drawdown’s ranked list of 100 climate change solutions has priced the whole planet-fixing kit at a cool $29,609 billion dollars (of other people’s money). [...]

Wealthy countries accused of trying to keep their money to themselves

“Paris” is rock solid and on the brink simultaneously

In a kind of Schrodinger’s-Agreement Paris means everything and nothing all at once. The Grand Emissions-Mouth says every country on Earth has signed up except the US.  The Giant Money-Mouth says it’s unravelling, an emergency and on the brink.

How can that be? Spot the pea. This strange superposition can exist because the emissions agreement is vaporware: 200 countries signed up but almost none of them are going to meet their agreement and no one cares. On the money side though, almost no one is going to give or get what they expected, and it’s a complete bunfight down to the last comma.

It was and always is, about The Money

No one gives a toss about the CO2:

The Paris climate change agreement has started to unravel as a dispute over a $US100 billion-a-year climate fund prompts new demands that developing countries be given greater freedoms to increase their emissions.

Environment groups have claimed the Paris deal was “on the brink” after an emergency meeting in Bangkok at the weekend failed to reach consensus on crucial details on how the agreement would be managed.

The [...]

Climate Lobbying is a 2 billion dollar industry — Money talks, but this report has no idea what it is saying

In one of the more pointless and inane “scientific” publications of the year, Brulle et al has added up climate lobbying dollars across the years and sectors, but missed the two largest sectors and blended friend and foe unto homogenised pap. Even Brulle admits that gas companies lobby for climate legislation, while coal companies lobby against it, yet Brulle still lumps them all into the archetypal ogre called “Fossil Fuels”. Let’s perpetuate a mindless stereotype, eh?

Was that an accident or an aim?

Thus and verily do “fossil fuels” predictably outspend environmental organisations:

“Unsurprisingly, sectors that could be negatively affected by bills limiting carbon emissions, such as the electrical utilities sector, fossil fuel companies and transportation corporations had the deepest pockets. Their lobbying efforts dwarfed those of environmental organizations, the renewable energy industry and volunteer groups.”

Fossil fuels didn’t just outspend enviromentalists, they might as well have been them. Shell leaned on World Bank to nobble the competition. It begged for Big-Green subsidies to sequester carbon and lobbied for carbon trading. BP committed to a low carbon world, and went so far as to join Greenpeace and lobby the BBC itself.

Gas companies benefit from climate change [...]

Chinese set up a giant strawman carbon market twice size of EU

What would China do if it wanted competitors to keep shackling themselves to an industry-crippling religious weather-fetish?

mock their economy-killing stupidity openly til they realized it, or nod vigorously and set up a big inflatable strawman idol in the streets of Shanghai? It protects no fields but looks convincing to Greenpeace and good enough for Goldman Sachs…

Notice the size of the carbon markets: The EU’s trading scheme is the largest in the world and “covers” 1.8 gigatons of carbon emissions.  China’s power sector (just power) produces 3 gigatons of emissions. The plan is to carefully strap a very mild carbon market on the Chinese power sector starting in 2020 and expand it later to other industries which would then include some 5 gigatons of emissions.

Sounds like a marvelous advert for people trying to sell carbon trading schemes:

Clean-energy advocates trumpeted the creation of the planet’s largest carbon market, which will be nearly twice the size of the European Union’s.

The headline in TechnologyReview, James Temple:

China is creating a huge carbon market—but not a particularly aggressive one

Not aggressive is the phrase  – join these dots:

… the government’s goal for now is to reduce the [...]

Giant Spanish Bank spends €100 b on Earth’s weather, cos they are nice people

This absolutely definitely is not about profits or money.

Giant Spanish bank announces €100 billion plan to fight climate change

BBVA, the second largest bank in Spain, has launched a major new financing initiative to support sustainable development and combat climate change in the coming years.

Only gas and oil companies are “vested interests” seeking to profiteer from our demise.  Banks are charities:

BBVA Group Executive Chairman Francisco González said, “At BBVA, we want to play a key role in mobilizing resources to halt climate change and promote sustainable development. It is an ambitious, long-term goal in line with our purpose of ‘bringing the age of opportunity to everyone.’”

Apparently, the bank’s role is to change Earth’s climate, and “bring the age of opportunity to everyone”.

Do their shareholders know, I wonder?

Can anyone see an elephant?

Warning  — Meaningless acronym coming — SBTI:

BBVA has also become the first Spanish bank to commit to the Science Based Targets Initiative. The campaign helps major corporates work out how they have to cut emissions to prevent the impacts of climate change.

The group’s new strategy is called Pledge 2025…

If you wanted to dress up a neolithic druid [...]

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 [...]

Australians paying $600 per household to subsidize wind and solar

Australia is a wonderful living experiment for nations worldwide of how a people with more energy resources per capita than anywhere else in the world can sabotage a perfectly good electricity grid in the hope of appeasing the Weather Gods.

At the request of Senator Malcolm Roberts, Alan Moran slices up our “Chief Scientists” report (known as the Finkel Review) and gives us some home truths. Electricity costs have doubled in Australia, Finkel’s plan would take what isn’t working, and do more of it –  in the process pretty much destroying one fifth of our manufacturing base, costing us thousands of jobs, and adding almost $588-$768 per household annually to energy bills. Let’s ask Australian voters if they want cheap coal power or if they’d rather spend  $600 a year to make the weather unmeasureably nicer in 2100? Why don’t we have a plebescite on that?

In other basic truths Moran points out that while Finkel seems to think new coal fired plants are uneconomic, everyone else is building them around the world. Old plants don’t have to be blown up on their 50th Birthday either. They can be maintained instead, like lots of other perfectly good 50 year old [...]

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 [...]