#renewableenergy

Never let a good crisis go to waste even if you have to trespass

Senator Kamala Harris and California Gov Gavin Newsom took the opportunity to do a photo shoot on the property of a family who lost their home to the devastating wildfires.

This is what Trampas Patten, son of the owner, had to say:

For the friends of mine that don’t recognize the fireplace in the background, that is what is left of my parents house! What has me really frustrated right now is the fact that these two politicians used my parents loss for a photo opportunity to push their political agenda! Political party wouldn’t have made a difference in this moment. Decent human beings that have character and class, wouldn’t air someone else’s misfortune on national television! Think about this when you go to the polls in a few weeks to vote. Look at this picture closely, imagine it is what is left of your hard work, hopes, dreams, place of sanctuary. Do you want this kind of leadership, using you and your loss for political gain?! For the record, my parents haven’t even been let back in yet themselves, to sort through what is left of their lives, but these two felt the need to go traipsing around my parents property without permission. I guess those property taxes my parents pay allow politicians to do this! Private property doesn’t exist in California anymore!

His sister Bailee chimed in with:

Dear Governor Newsom you don’t know me but I’m one of your CA citizens. That truck you are standing by is my dads work truck. He has had that thing for as long as I can remember. That land with all the rubble your standing next too, that’s my house I grew up in. You never got my parents permission to go on our property, nor did you ask if we needed help. What you did do is take my families loss and parade it all over social media and news networks to push your agenda. That agenda can wait, right now you should be caring about the families of this state. Thankfully this community is #mountainstrong and we will thrive.

When it is all to push a climate change agenda in media approved Timberland boots, who cares about those affected? Facts don’t matter. Fashion and fashionable causes not supported by the facts do.

California fires vs Australia

As wildfires sweep across California, we were struck by this infographic put up by Cal Fire.

While we will investigate more deeply in coming days, we were struck by several things compared to Australia’s NSW RFS.

The first is fire engines. Cal Fire claims to have 343. NSW RFS has 3,883. Although aerial bombing seems a preferred method in California.

Cal Fire employs 6,100 full time staff. NSWRFS 936.

Cal Fire has 2,600 seasonal staff, 3,500 inmates, wards and conservation members and 600 volunteers. NSWRFS has 71,000 volunteers.

Cal Fire operates on a budget of US$2.1bn. NSWRFS runs on US$405m.

Cal Fire attended 5,750 wildfire incidents while NSWRFS attended 9,675 bushfires in 2018/19.

Cal Fire staged prescribed burn offs of around 19,000 acres in 2017/18. NSWRFS conducted 469,500 acres of burn off in the last recorded year. In NSW’s case, this wasn’t enough.

So before the “climate change” experts start blaming Mother Nature for California’s wildfires, a quick glance at the stats shows that NSWRFS were doing far more with less. Despite that, the Royal Commission has exposed that nowhere near enough forest fuel was being managed which led to the uncontrollable fires experienced late last year. Poor administration is a feature too.

We will endeavor to do a more comprehensive look at the stats to ensure consistency in methodology.

However we implore people to look at a report we wrote discussing climate change by the fire services themselves which goes a long way in proving what we already knew. Poor fuel load management and arson remain the biggest issues.

As ever, we don’t disparage the work of the fire fighters but question the management. In Australia, one volunteer claimed the administration acts like a mafia.

California fires weren’t caused by climate change but…wait for it…

…Gender reveal fireworks.

There is a deep sense of irony when the climate change myth is dispelled (as written before) as the cause of devastating wildfires that some other form of woke activity ends up being behind it.

The San Bernardino Fire Department issued a press release confirming that gender reveal fireworks had been behind the wildfires which have caused 3,000 residents to evacuate their homes.

Ben & Jerry’s Woke Windfarm Whippy

No photo description available.

Just when we thought COVID-19 had killed off climate change, Ben & Jerry’s social justice warriors will allow consumers to name an ice cream by donating money.

We thought of:

Climate Corona-netto,

Woke Windfarm Whip,

Toxic Solarcell Cadmium Cherry

Windfarm Blade Bury Berry

CSIRO Costings Crumble

It will be fascinating to see how much emissions will have fallen given the drop off in air traffic and other global travel restrictions due to lockdown.

We wrote about the dirt on solar panels here.

We discussed the problems with recycling wind turbine blades here.

Perhaps Ben & Jerry’s may do well to refer to the CSIRO study on the impacts of going 100% fossil-fuel-free.

Before we even get to 100%, the CSIRO’s energy transition costings forecast costs to exceed $1 trillion with a “T” out to 2050 (p.135). Note this report isn’t even a net-zero study – just lower emissions. So by that logic, net-zero will cost even more. CSIRO assures us that “these costs do not include the full integration costs of renewables, but that these costs are expected to be significantly less than $175 billion.” Who cares about billions in a world of trillions? Significantly less? Can anyone name a government project that has come in on time and on budget? Submarines? NBN? The beauty of spending other people’s money.

We wish to put forward to Ben & Jerry’s how they will manage to keep their ice cream frozen without the help of the carbon economy? From the aluminium (one of the most energy-intensive materials to produce) freezers, to the electric motors to maintain the correct temperature. To the cups and plastic spoons to serve and the use of oil to make the cones.

Perhaps the most interesting stats come from the ice cream maker itself. It suggests that making 1 pint of ice cream leads to 2lb of CO2 emissions. Driving a car 1 mile leads to 1lb of CO2 emissions. So technically if one is able to drive to the supermarket and back they could produce fewer emissions than the ice cream they end up buying. Perhaps they should stop selling ice cream to save the planet?

You’ll never guess what else Ben & Jerry’s support? The Black Lives Matter movement. We look forward to the company banning all vanilla ice cream to stop the systemic racism the company seems to believe is still rife, despite race-based hate crime hoaxes being the norm, not the exception.

UN to hire young climate leaders to advise on climate action

UN Secretary General António Guterres has announced a new group of youth climate leaders, aged 18 to 28, to advise him on climate action.

Never mind using facts and logic. Forget getting the brightest minds with decades of experience to objectively look at the data. Just hand pick brainwashed kids who will parrot whatever is required by Dear Leader.

Can you imagine the amount of group think? Why bother having meetings at all? Will Guterres get any dissenting voices? Not on your life.

We guess that after all of the decades of doom and gloom forecasts made by the IPCC, next to none of which got even close to the mark, it is best use kids as human shields to peddle the nonsense because it is not cool to attack them.

Why stop at climate change? Perhaps they should be advising WHO? After all Greta Thunberg is a renowned expert on coronavirus and it is fair to say she couldn’t do a worse job that Dr Tedros has done so far. Come to think of it, where is Greta?

If we were advising the Redskins response to Nike

Nike has stopped selling Washington Redskins gear and won’t resume sales until the NFL team changes its name.

Nike, alongside FedEx and PepsiCo have been put under pressure by activist investors. We can absolutely guarantee that the ultimate customers of money managers – individuals – want decent and sustainable returns, not woke virtue signaling.

Given investment houses often preach about the importance of accurate numbers, due diligence and shareholder returns, why not accept that over 90% of Native Americans have no issue with the name? Have Native Americans come out on mass demanding the name change?

The thing is that the majority demanding the change haven’t bothered to consult the very people who don’t appear to be bothered by it. Another typical woke liberal talking point to post to social media feeds to make themselves feel morally superior despite the fact that the majority don’t represent the very people they claim to.

What woeful governance practices to cave in to activists, who often don’t meet the very guidelines they demand of others.

Perhaps the Washington Redskins should return serve on Nike and demand that using a name from Greek mythology is cultural appropriation and not inclusive of the trans community. It should also request Nike stop making products that use cotton because of its links to slavery.

Furthermore, the use of synthetic materials that rely on the fossil fuels industry must be banned to show its commitment to combatting climate change.

The Redskins management should also demand that Nike force any staff member, executive, supplier, contractor or sports figure they sponsor not use Mercedes for its former links to slavery.

The cancel culture must apply across the board.

#PushBack. The corporate world has no place lecturing anyone on morals.

Sydney Lord Mayor thinks we’re stupid

Lord Mayor Clover Moore proudly tweeted the City of Sydney went 100% renewable energy.

Shame 87.3% of the state’s electricity came from coal on the day of that announcement. Or is that how it works? Calculate the total energy consumed in Sydney and claim that any renewable energy across the state of NSW was hers?

APRA priorities are frightening

We wrote a while back that the Australian Prudential Regulatory Authority (APRA) had taken its finger OFF the pulse when assessing the risks facing our financial institutions. That was before COVID19. We think our banks are heavily leveraged and have little equity to offset a collapse in the property bubble.

Despite being faced with the prospect of a property meltdown thanks to an employment destroying pandemic, APRA thinks hiring a “Head of Climate Risk” is the way forward.

Why does APRA bother pursuing a field it has no expertise in much less look to create new green tape to extend its oversight?

It is not alone. The Australian Securities & Investments Commission (ASIC) is now seeking more oversight on corporates reporting on climate change.

ASIC’s own study found that fewer and fewer companies were reporting on climate change over the past decade. Shouldn’t we take that as corporates having a better pulse on the impact that climate change will have on their industries than a bunch of bureaucrats wanting to legislate an ideology?

With the COVID19 driven seismic economic shifts to come, it is frightening to see our government departments pursuing irrelevant regulation that companies are even less concerned about.

APRA should be focused on ensuring the coming property market implosion doesn’t cripple our banks. Instead of using the time to fine tune a wide variety of scenarios and stress tests to combat the troubling future, it is only proving it should have power taken away not granted.

Planet of the Humans

Planet of the Humans is Michael Moore’s latest documentary which slays renewable energy – wind, solar & biomass – as well as electric vehicles which rely so heavily on fossil fuels in their production.

Think of it as Crony Capitalism 101.

When climate alarmists start trusting bankers

If global warming alarmists ever wanted to pick an industry as steeped in unreliable forecasts as climate scientists, one would find it hard to beat investment banking. Having been in that industry for two decades, the list of woefully misguided and poorly researched puff pieces is endless. There is a reason global banks are trading at fractions of their former peaks. They don’t add much value and most never picked the GFC of 2008. If they were smarter, greed wouldn’t require recessions.

Never mind. When JP Morgan economists are portending climate doom, why not hitch them to your global warming wagon? There is a kind of conflict of interest. Evil, greedy fat bonus paying tax avoiding corporates preaching virtue on climate.

By the way, you won’t find a research analyst who believes they don’t deserve air travel at the pointy end and luxury limousine transfers to and from the airport.

Yet they are aligned with the hypocrites at the Bank for International Settlements (BIS) which told us at the 1500 private jet junket at Davos that it’s central bank members are “climate rescuers of last resort.” This despite their monetary policies having played a major part in fueling overconsumption via the debt bubble. Ultra low interest rates will ultimately have a profound effect on carbon emissions – a global economic crisis of epic proportions which won’t require one wind turbine or solar farm to achieve. They’ll save the climate by destroying the wellbeing of so many in the process.

On the one hand, JP Morgan can now claim some kudos for allowing such free thinking which isn’t at the behest of the investment banking team.

Maybe it’s worth pointing out that most banks keep meticulous (but useless) data on the readership of such reports. Much like the media chasing advertising dollars through clickbait, research analysts strive for internal point scoring to boost their year end review chances to push for bigger bonuses to their excel spreadsheet obsessed line managers who look at quantity, not quality. So if a warmest piece can create noise, irrespective of the quality of the content, then that serves a purpose for internal bosses.

Such has been the hollowing out of investment banking research teams, the last remaining life jackets are in short supply. It was only last year that Deutsche Bank closed its entire global equity platform. While regulation is part of the problem, there is simply very little value add to convince clients to pay for.

While the report supposedly chastised the bank’s lending of $75bn to the fossil fuel industry, in a world of ESG, which puts ideology ahead of risk assessment, JP Morgan can now claim it has seen the light so it can hopefully fool green tech companies in need of cash that they are worthy environmentally friendly financiers. This will also give the public relations team a welcome talking piece to the media and ESG retirement fund managers that they practice social responsibility.

Back to the report. On what pretense do the JP Morgan analysts have for the climate crisis threatening the human race? Citing the IPCC (where scientists have slammed the processes which prioritize gender and ethnicity over ability and qualification) and the IMF (which couldn’t pick economic growth it it tried) are hardly the sort of data one would gladly source as gospel to compile a report.

It seems everyone is an expert on climate change nowadays. Central banks, ASIC, APRA, RBA, the Australian Medical Association and now investment banks. As we pointed out earlier in the week, where were the scientists who made a b-line to speak at the National Climate Emergency summit in Melbourne? That’s right 2/3rds were activists, lobbyists, left-wing media and academics with no scientific background.

You know when alarmists are channeling bankers, that they are running out of credible evidence. Even worse, most banks have an uncanny ability to act as contrarian indicators.

We can be sure that a whole lot of malinvestment will continue thanks to governments trying to declare emergencies to justify infrastructure spending to replace sensible business friendly structural reforms that would have a far better chance of keeping them in power for longer.

In closing, it seems even the media has lost faith in investment bank research, choosing to channel NY Mets baseball pitchers for commentary on stocks instead.