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Naturally the Big Bankers dress up in trees and rivers… they wouldn’t wear the Dracula Cape when people are looking, would they?
By Jo Nova
The biggest climate bullies on the planet just got a bit smaller. There are two monster climate banker clubs in the world, and yesterday, one of them, the “Climate Action 100+” lost three of the six largest asset management funds in the world, namely JP Morgan Chase, State Street and BlackRock.
State Street manages about $3.6 trillion in funds, JP Morgan Chase about $3 or $4 trillion, and BlackRock $10 trillion, so that’s something like $17,000 billion dollars that just left the ranch. The fact that this kind of money was all grouped together in a cabal of any sort is bad enough, but ponder that now, after the biggest fish have left the tank, there’s still $50 trillion left in assets on the inside.
It appears the Climate Action 100+ group had grown too big for its boots — the new Climate Action 100+ “phase 2” strategy expected asset managers to actively hound companies to cut their emissions.
An ESG Asset Manager Exodus
The Wall Street Journal
February 17th, 2024 | Tags: Bankers, Climate Action 100+, Climate Money, ESG, GFANZ, United Nations (UN) | Category: Global Warming |  Print This Post | |
9.6 out of 10 based on 13 ratings
By Jo Nova
Victoria is just not big enough to fit all the solar and wind industrial plants
It’s no wonder the Victorian government is desperate to begin building offshore wind turbines. Their own targets for the forced transition are so crazy-brave, they would “need” to use as much as two thirds of the state’s agricultural land instead. It sounds delusional but they told us this straight up in their own policy document released in March 2022.
Thanks to Aidan Morrison at the Centre for Independent Studies, who not only reads these boring tomes, but also noticed that they quietly disappeared the Victorian Offshore Wind Policy Directions Paper. He explained in The Australian that he believes they hid it because they’ve realized how embarrassing it looks.
Apparently 227,000 square kilometers is not enough land to power 7 million people in a NetZero world.
Victorian planners had farmland in their sights (as if it was their own). They mapped it out and described it as “available for onshore renewables”.
If farmers were not aware of the totalitarian disregard the NetZero bureaucrats have for farmers, they know now.
Think about the captive mindset it takes to publish a ludicrous document […]
9.6 out of 10 based on 11 ratings
By Jo Nova
A new paper (like so many before it) shows that the sea started warming half a century before the first coal fired power plant was ever built, demonstrating yet again, the skeptics are right, and CO2 is irrelevant. Despite that, the world’s supposedly top science journal lauded it in excitement because it showed the world had warmed “more than we thought”, and somehow, in their brains, ipso delerium, all warming was caused by man-made CO2 even if it occurred when there were no flights, no cars, and no electricity.
Life in 1820 was the ultimate “Net Zero” world: literally every flight was grounded and all petrol stations were closed for 80 years yet the world warmed.
Absurdly, evangelistic headlines decreed the world was “hotter than we thought”, had breached 1.5C earlier than we thought and three hundred year old sea sponges were telling us to hurry up and install solar panels. The point that the geniuses who are 99% certain didn’t know how hot the 1800s were until last week isn’t exactly inspiring. But the political activists at Nature felt that breaching the Paris Agreement (before it was even made) was big news and said so in […]
9.8 out of 10 based on 12 ratings
9.4 out of 10 based on 9 ratings
Paul Englher | ABC News
By Jo Nova
Just how wise is it to have a grid dependent on all this fragile infrastructure?
Nature seems to be telling us something about adding another 10,000 kilometers of vulnerable transmission lines.
Yesterday six high voltage transmission lines collapsed in Victoria leaving half a million people without electricity for hours. But only a few weeks ago five towers collapsed in Western Australia putting 30,000 in the dark. And out in Kalgoorlie, when the gas backup plants failed, thousands of people went for days without power in 40 degree heat. Some people were unable to call triple zero, freezers full of food were spoilt and nearly everything left to buy had to be paid for in cash.
In Victoria the towers fell at 1:10pm during a storm. Their loss triggered the shut down of 4 large coal power units at Loy B Yang taking out 2 GW of generation. It took three hours to get one turbine back on line, and eight hours to restore the second. Everyone is talking about “the coal fired outage” but about half the wind power running at the time was also lost, and over the […]
By Jo Nova
The global carbon market in sacred certificates-to-stop-storms now “worth” nearly one trillion dollars
Remember this number next time someone tells you fossil fuels are stopping “climate action”.
The whole trillion dollar carbon market is a vested interest. It is a fake market entirely created on government whimsy. The whole absurd point of it is supposedly to slow tornadoes or floods in 2100, and reduce beach-weather in Europe. Because who likes the beach?
LONDON, Feb 7 (Reuters) – The value of traded global markets for carbon dioxide (CO2) permits reached a record 850 billion euros ($909 billion) last year, analysts at Refinitiv said on Tuesday. Around 12.5 billion tonnes of carbon permits changed hands in the world’s emissions markets – 20% less than the previous year – but the value of the markets rose by 14% as prices for permits were much higher.
In a carbon market, certain favoured groups can say they produced less carbon dioxide this year than they otherwise might have. They get to sell their anointed pieces of paper to other less favoured people who have to buy credits because the government says they must. At any point in this game, industries can […]
8.6 out of 10 based on 20 ratings
8.4 out of 10 based on 34 ratings
9.1 out of 10 based on 27 ratings
The “hockey stick” graph as published in IPCC TAR (Figure 2-20, 2001)
By Jo Nova
Climate deniers must be punished
For newcomers: Michael Mann’s hockeystick graph was wildly different from hundreds of studies of other studies and instantly became the pet graph of the IPCC. It used the wrong proxy, the wrong tree, and the wrong type of averaging. Whole books were written on how bad it was. But when Mark Steyn called it fraudulent Mann sued.
Twelve long years after the case was launched, the six person jury decided that Mark Steyn and Rand Simberg have defamed Michael Mann, but awarded Mann one whole dollar in damages, because he hadn’t been able to prove he suffered any damage at all. Remarkably, though, the jurors felt the skeptics had been so malicious they added punitive damages too. Usually these are limited to a mere four or five times the compensatory damage, but this time it was decided Simberg should pay $1,000 and Mark Steyn $1 million. It sets a new record.
According to Law.com punitive or exemplary damages are saved for truly dreadful acts:
exemplary damages n. often called punitive damages… are damages requested and/or awarded […]
9.9 out of 10 based on 14 ratings
By Jo Nova
There’s no hiding that this is a major backflip
History books will be written about corporate mistakes.
Twenty years ago BP called itself “Beyond Petroleum” and by 2020 the company was hellbent on getting there. They pledged to reduce their own oil production by 40% by 2030, and promised to pivot into renewable power. The media was thrilled — “BP Shuns Fossil Fuels“, said Politico, and shines a light on “stranded oil and gas”. Only two years ago BP talked of “accelerating” it’s green investments. Then the price of oil and gas exploded and problems with unreliable energy started breeding.
Now BP is writing off a billion dollars in offshore wind investment, and the new CEO is calling for “pragmatism”. The company has flipped from cutting oil production 40% by 2030 to increasing it instead.
The new chief, Murray Achincloss said they still want to be “an integrated energy company” (presumably so it looks less like a full-reverse and more like a “tweak”), but he betrayed himself when he said: “we see growing demand for energy right now across the globe”. “It is not slowing down.” When he says energy, he means oil and gas.
BP to […]
9.5 out of 10 based on 11 ratings
Image by GrumpyBeere
By Jo Nova
Last year the acceleration in EV sales stopped accelerating. The industry was still growing they said, just not quite as fast. Now, so soon, the sales are actually falling. In the UK, EV sales dropped off a cliff, falling 25% last month. Perhaps it was just a bad month? But in California, home of global green dreams, sales have also declined, and for the last two quarters. Ominously, this is happening despite government decrees insisting every new car sold in 2035 will be an EV. Sales are supposed to be launching into orbit. Something is very wrong.
Meanwhile Hertz has taken yet another step away from their EV quest — after announcing they were selling off a third of their EV fleet at bargain basement prices, now they are cancelling plans to buy 65,000 Polestars. This was a $3 billion deal, and to let them out of it, Polestar has, by golly, demanded Hertz give them the right to buy back the old Polestars that Hertz wants to sell — that way Polestar can keep the older models off the secondhard market and stop the value from falling the same dire […]
9.5 out of 10 based on 12 ratings
By Jo Nova
Farmers win the day after mass protests
Thousands of farmers in tractors and trucks protested in the Netherlands, Germany, France, Ireland, Sweden, Portugul, Greece and Spain. Farmers in Poland are planning to block the Ukrainian border. The French farmers held Paris under siege, blocking roads, pouring manure everywhere and leaving supermarket shelves empty, then after they won some concessions from President Macron, they kept on driving to Brussels and did it all again with help from farmers from other countries. The EU is the target.
The thing that made this so potent was not just that the farmers had heavy equipment that moved obstacles and drove over barriers, they also had huge public support. Something like 80 to 90% of French citizens supported the farmers and were willing to put up with the inconvenience. Then to cap it off, EU elections are coming in June, and they only happen once every five years. The Greens look like they will do badly. That people like Geert Wilders can win in national elections must have shocked the politerati class. But right wing governments have been elected in Italy, Sweden, and Finland too.
This looks like a major win. […]
10 out of 10 based on 8 ratings
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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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