South Australia has ousted the left-wing, eco-loon government responsible for the disastrous green energy policy which has often plunged the state into darkness, hamstrung industry and driven electricity prices to stratospheric highs.
Jo Nova reports:
In South Australia, Jay Weatherill is gone. Resigned. Tally so far: Libs win 24 seats, Labor 18. Though according to commenters SA voters were choosing between Lite-Left and Hopeless-Left. The new premier will likely be less-bad. Xenophon (small alternate non-establishment player) was crushed. He didn’t side with either Labor or Libs, so voters probably felt they couldn’t afford to sit on the fence and risk more years of Weatherill’s reckless industry-destroying state government.
The Greens are down from 8.7% to 6.6%, a fall of 25% in their popularity. (Not that I could find any news headlines to that effect).
The United States – the world’s largest gas consumer and producer – will account for 40% of the world’s extra gas production to 2022 thanks to the remarkable growth in its domestic shale industry. By 2022, US production will be 890 bcm, or more than a fifth of global gas output. Production from the Marcellus, one of the world’s largest fields, will increase by 45% between 2016 and 2022, even at current low price levels, as producers increase efficiency and produce more gas with fewer rigs.
While US domestic demand for gas is growing, thanks to higher consumption from the industrial sector, more than half of the production increase will be used for liquefied natural gas (LNG) for export. By 2022, the IEA estimates that the United States will be on course to challenge Australia and Qatar for global leadership among LNG exporters.
Yes. That’s right. Slowly, deliciously, like a leech starved of blood, the renewable energy industry is withering away and dying. It can only survive through government enforced subsidies or bribe-incentives. Once those dry up, so does its trade.
I wish I could say it gave me no pleasure to see all those jobs being lost, all those businesses collapsing, all those investors losing their shirts. But I’d be lying. The jobs aren’t productive ones, the businesses are an ugly manifestation of crony capitalism, and the investors should have realized that in finance there’s no such thing as a one way bet. And in any case the victims of the renewable energy industry’s ongoing collapse will be far outnumbered by the victors. Renewables are, and always have been, a scam perpetrated by the few against the many.
A tiny minority – Elon Musk; Dale “Dog on a Rope” Vince; etc – get very, very rich. But the ordinary folk forced to use their “clean” energy (whether they like it or not) just see their bills go up or, in the worst cases die in fuel poverty, even while the planet we’re supposed to be saving gets carpeted in bat-chomping, bird-slicing eco-crucifixes and bird-frying solar arrays.
This is a moment for Americans, once again, to savor just how lucky they are to have a President who doesn’t buy into this green nonsense. President Trump understands instinctively that renewables – apart from killing birds on an epic scale – are just rent-seeking with a smiley green face on top.
It’s also a killer for domestic jobs and industry, as Cato’s Jason Scott Johnston explainshere.
While Germany has succeeded in increasing the share of wind and solar in German electricity production to over 30 percent, the average German household spent 50 percent more on electricity in 2016 than 2007. German firms open new manufacturing facilities not in Germany, but in Slovakia and other countries with much cheaper electricity.
Indeed, so economically suicidal is the renewable energy scam that you can use it as the benchmark against which to test a functioning Western economy. The more enthusiastic about renewable energy it is, the more deluded its leadership and the more likely it is to experience economic collapse.
Some economically-illiterate moron just hijacked Joseph Stiglitz’s email, submitted a really embarrassing article on the economics of Trump’s departure from the Paris Agreement, and actually got it published under his name.
Under President Donald Trump’s leadership, the United States took another major step toward establishing itself as a rogue state on June 1, when it withdrew from the Paris climate agreement. For years, Trump has indulged the strange conspiracy theory that, as he put it in 2012, “The concept of global warming was created by and for the Chinese in order to make US manufacturing non-competitive.” But this was not the reason Trump advanced for withdrawing the US from the Paris accord. Rather, the agreement, he alleged, was bad for the US and implicitly unfair to it.
While fairness, like beauty, is in the eye of the beholder, Trump’s claim is difficult to justify. On the contrary, the Paris accord is very good for America, and it is the US that continues to impose an unfair burden on others.
Clearly only a sub-literate political activist could have written such hysterical, tendentious, reality-denying drivel.
But if I’m wrong and it really is the work of yer actual Professor Joseph Stiglitz then I think it’s time the Nobel academy asked for the return of the prize they gave him for economics in 2001. I’m not an economics major myself, let alone a feted, Nobel prizewinning professor at Columbia University, but even I can see his line of argument is nonsense.
Where it really falls down is when Stiglitz attempts to make the claim that the Paris Agreement was good for America.
In fact, far more jobs are being created in solar panel installation than are being lost in coal. More generally, moving to a green economy would increase US income today and economic growth in the future. In this, as in so many things, Trump is hopelessly mired in the past.
Truly it is astonishing to read a Nobel-prize-winning economist make such an obviously specious point.
Yes, it’s true – as Paul Homewood notes – that the “solar now bigger than coal” has become a popular meme circulated ad nauseam by climate alarmists and green activists — and celebrated by the credulous:
Munger, who was speaking at an informal investors’ Q & A – recorded here – clearly does not rate Gore’s intelligence or investment acumen.
“Al Gore has come into you fellas business, Munger said. “He has made $3 or $400 million in your business. And he’s not very smart. He smoked a lot of pot as he coaxed through Harvard with a gentleman’s C. But he had one obsessive idea that global warming was a terrible thing and he would protect the world from it,” he explained. [Note: Gentleman’s C is defined by Urban Dictionary as “A grade given to a student (traditionally with wealthy parents) instead of a failing grade.”]
“So his idea when he went into investment counseling is he was not going to put any CO2 in the air,” Meager explained to the investors noting that Gore’s simple strategy of buying only service company stocks enabled the former Vice President to become very rich.
Meager explained: “So he found some partner to go into investment counseling with and says we’re not going to have any (carbon dioxide). But this partner is a value investor and a good one. So what they did is, is Gore hired staff to find people who didn’t put CO2 in the air. Of course that put him into services. Microsoft and all these service companies were just ideally located. And this value investor picked the best service companies. So all of a sudden the clients are making hundreds of millions of dollars and they are paying part of it to Al Gore. Al Gore has hundreds of millions dollars in your profession. And he’s an idiot. It’s an interesting story. And a true one.”
Though the meeting took place in February, it only recently came to light via a report on CNBC.
China is on the verge of unleashing an energy revolution which will destroy pretty much forever the green argument that “we are running out of fossil fuel.”
At the heart of this revolution is a miracle substance, sometimes known as “flammable ice”, made up of deposits of frozen gas concentrate in the ocean bed. The substance – methane hydrate – is incredibly energy intensive: according to the U.S. Energy Information Administration one cubic foot of flammable ice holds 164 cubic feet of regular natural gas.
According to one conservative academic calculation, Earth’s conventional reserves of natural gas hold 96 billion tonnes of carbon. Earth’s reserves of oil contain 160 billion tonnes. Earth’s reserves of coal contain 675 billion tonnes: Taken together, 931 billion tonnes of fossil fuel. But Earth’s methane hydrates contain 3,000 billion tons of carbon.
Or more. Methane hydrates are found at larger and larger volumes the deeper you drill. ConocoPhillips drilled 830 metres for its field test at Prudhoe Bay. At this level, you calculate the reservoir of methane gas in the hundreds (100s) of trillions of cubic feet (tcf). Drill deeper and you calculate reserves in the thousands (1,000s) of trillion cubic feet. Drill deeper still and you calculate reserves in the hundred-thousands (100,000s) of trillion cubic feet. Earth’s reserves of this resource could theoretically reach millions (1,000,000s) of trillion cubic feet.
Though methane hydrate is not a newly discovered phenomenon – various countries are researching its potential including the U.S. and Japan – China’s announcement via its state media agency that it has made a “major breakthrough” in successfully collecting the frozen fuel means that it is one step closer to being used commercially.
This won’t be good news, long term, for the U.S. shale gas industry.
Suppose you were a Conservative leader hoping to win a stonking majority in your general election campaign, which of these two manifesto propositions do you think would win the most votes?
a) Our energy policy will remain in the clutches of a cabal of vested interests – rent-seeking, crony capitalist shysters; green ideologues with junk-science degrees in Gaia Studies from the University of East Anglia; eco-fascist lobby groups and NGOs; compromised scientists with their snouts in the trough; goose-stepping technocrats; really, really, really dim MPs – ensuring that the landscape continues to be blighted by an ever-greater-proliferation of shimmery solar panels and ginormous bat-chomping, bird-slicing eco-crucifixes.
We remain committed to the Climate Change Act which will cost the UK economy over £300 billion by 2030, costing each household £875 per annum; and also to the Levy Control Framework (LCF) which, combined with carbon taxes, cost the UK £9 billion in 2016 alone. Then we’ll pretend it’s the fault of the greedy energy companies by hammering them with a price cap – thus driving their share prices down (bad luck pensions and investors!), reducing competition and innovation, and signalling that we intend to be a meddling, interventionist government which has no truck with free market principles.
b) We want consumers and businesses to have the cheapest most reliable energy which causes the least damage to wildlife and the environment and which best guarantees Britain’s energy security. To this end we will scrap all market-distorting subsidies, declare a moratorium on renewables – as well as white elephant projects such as the Hinkley Point C Radioactive Money Pit and the even more lunatic proposed Swansea Tidal Lagoon project – and go all-out to exploit Britain’s superabundant shale gas reserves.
We will, furthermore, appoint a Secretary of State for Energy capable of explaining in ways even thick people can understand why it’s all OK, the baby polar bears aren’t going to drown, nor is Lancashire going to vanish into a crevice, nor are Britain’s gardens going to turn into deserts – despite all that toss you heard from the BBC’s resident Old Etonian eco-loon David Shukman on the Radio 4 Today programme this morning.
Well personally I’m going with b).
What we’re going to get with Theresa May’s Continuation Cameron Conservatives, unfortunately, is far likely to be closer to a).
This is a terrible shame for a number of reasons. As a lover of the British countryside, I’m most especially upset about the ongoing Scotlandification of Mid-Wales with more and more ugly wind farms. If ever you needed an argument against devolved government, there’s your case made for you. The troglodytes in the Welsh Assembly who allow this kind of destruction to pass are not fit to run a bath let alone a Principality.
But it’s also sad for political reasons. Prime Minister Theresa May has a once-in-several-generations opportunity successfully and unapologetically to demonstrate – without any credible threat from her excuse for an Opposition – that conservative principles of small government, personal responsibility, and free markets are genuinely the best way of creating a fairer, more prosperous and freer society.
“I screwed up the economy, your jobs and your mortgages so – hey – I’m just the guy you can trust to tell you what to do about climate change!”
That was my take home message of a piece Hank Paulson penned for the New York Times a couple of years ago on the urgent need for a carbon tax.
Two years on – with fellow GOP Establishment stooges James Baker and George Shultz – he’s still harping on the same tedious theme.
This copper-bottomed, ocean-going shyster Paulson is the kind of Dubya-period throwback whose advice the Trump administration should avoid like the plague.
As Treasury Secretary Hank Paulson not only failed to predict the 2008 financial crash – the US economy is “very healthy” and “robust” he insisted in 2007 – but it’s quite possible that his encouragement of risky lending while he was at Goldman Sachs helped cause it.
But that’s because Paulson is the very embodiment of the liberal elite which both the Brexit vote and the election of Donald Trump were designed to overthrow.
Paulson may notionally identify as a Republican. Or, at least, he served with a “Republican” administration. But what’s quite evident from his demands for a carbon tax is that he belongs to that shiftless DC/corporatist/bankster elite which couldn’t give two hoots whether it’s a Democrat or Republican in charge, just so long as the elite get to maintain their power base and their revenue stream.
Note how, back in 2014 when he was calling for that carbon tax in the New York Times, he boasted about teaming up with Tom Steyer (arch-liberal hedge funder, creator of the NextGen super PAC) and Michael Bloomberg. These men are not conservatives.
What they are is crony capitalists. They are the embodiment of almost everything that America voted against when it voted for Donald Trump.
We’re on the verge of a new energy revolution. Except it’s the exact opposite of the one the “experts” at places like BP, the International Energy Agency and – ahem – the Guardian are predicting.
For years we’ve been assured by politicians, energy industry specialists and green advocates that renewables such as wind and solar are getting more and more cost-competitive while dirty fossil fuels are so discredited and wrong and evil we’ll soon have to leave them in the ground.
But to believe this you’d have to believe in a world where Donald Trump and Brexit hadn’t happened; where taxpayers were still prepared to bankroll, ad infinitum, the expensive, inefficient, environmentally-damaging produce of favoured crony-capitalists; where no one had access on the internet to articles showing how the whole climate change industry is such a scam.
That world doesn’t exist.
This is why we need to take with a massive pinch of salt, for example, the latest BP Energy Outlook 2017 which claims that renewables are set to grow and grow over the next two decades:
Renewables in power are set to be the fastest growing source of energy – at 7.6% per year to 2035, more than quadrupling over the Outlook period. Renewables account for 40% of the growth in power generation, causing their share of global power to increase from 7% in 2015 to nearly 20% by 2035.
It’s why we should laugh to scorn articles like this one in Vox boasting about how the US solar industry employs more people than the US coal industry.
And why economics writers like the normally sensible Jeremy Warner do themselves no favours when they produce tosh like this in the op-ed columns of that once respectable newspaper The Daily Telegraph.