#windpower

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?

Climate experts demand Planet of the Humans be taken down

Planet of the humans

You have to love the climate alarmists. Instead of challenging, dissecting and dismantling each point made in ‘Planet of the Humans‘ that was factually incorrect or misleading, it is far easy to lean on “the science is settled” argument and put pressure on YouTube pull it down.

How do these people honestly think they will persuade climate sceptics or people sitting on the fence if the only answer is to stifle or shut down debate? What of those climate alarmists who may have been disappointed to see the crony socialism at play? If the science is indeed on their side, why not provide the rebuttals rich in data and empirical facts? That way people can make even more informed decisions instead of being pilloried for questioning such findings.

Let’s be honest. The truth is that renewables rely very heavily on the fossil fuel industry. From the mining of the raw materials to the energy-intensive manufacturing processes.

We, like most rational people, want clean air and efficient use of resources that minimise waste but the problem is that the economics to put these green dreams into action is punitive. Should we accept that one needs 400x the area of a gas-fired power plant to produce the same amount of output with renewables?

We could go on and on. Bill McKibben of the Sierra Club gifted us some amusing backflips much like his colleague Aaron Mair did in a Senate Judiciary Subcommittee hearing on the environment. The video is utterly hilarious in showing just how little the Sierra Club knows about the supposed field of expertise – global warming. The hot air was in abundance.

We have always wondered why even if one wanted to believe the supposed 97% of scientists that concur with global warming, isn’t there any curiosity about what the 3% have to say that challenges the prevailing sentiment?

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.

Get ready to buy Boral & ABC rather than watch a market swim in concrete shoes

Governments rarely have imagination during crises. Usually, it involves chucking uncosted cash around. How many projects have we seen run way over the promised budget? Submarines anyone? NBN?

Handing out $750 cheques to 6 million struggling Aussies in the hopes they’ll spend it is a bit of a wing and a prayer strategy. Maybe those struggling will just use it to pay down debts of previous consumption rather than ignite a new spending splurge.

At some stage, large-scale infrastructure spending will return to the headlines to stem the economic slowdown. Look at the state of national infra spending forecasts in the chart above.

Bridges to nowhere. Tunnels, highways, schools and hospitals. New projects to get people back to work. It happens pretty much every downturn. So why should we expect anything different?

A read of the latest infrastructure report states quite clearly there are 4 areas to address:

  1. Population growth has become a major point of contention in infrastructure debates. In our largest cities, ageing assets have been put under growing strain, with rising road congestion, crowding on public transport and growing demands on social infrastructure, such as health, education and green space.
  2. Energy affordability has also deteriorated over recent years. A steep rise in network costs has driven energy bills 35% higher over the past decade, and up by 56% per unit of electricity consumed in real terms.
  3. In telecommunications, the nbn rollout continues to face challenges. In the 4.8 million households in which it has activated, services have not met the expectations of many users.
  4. In the water sector, the past four years have seen mixed results. Many metropolitan utilities are increasing the sustainability and quality of their services through innovation, supporting the liveability of our cities. But many regional areas are suffering from growing water security fears as large parts of the country are in drought.  

Cement companies play straight at the heart of three of these four distinct areas. Roads, rail, hospitals, schools, dams and so on. In the energy space, whatever direction we take (solar, wind, coal, gas or nuke), cement, asphalt and aggregates will be required to achieve it.

Bellwether Boral (BLD) is perhaps best positioned to benefit as it makes railway ballast, asphalt, cement, concrete. Boral shares have yet to be kicked as hard as others. Boral hit a GFC low around the $1.64 mark. It stands at $3.00, 33% above that level.

BLDAX

50% of Boral’s Aussie revenue comes from NSW, the state with by far the healthiest balance sheet and the biggest infrastructure projects. 50% of revenue is Australian based with another 38% coming from the US which has huge infrastructure needs. 25% of group revenue comes from roads, highways, subdivisions and bridges. Good leverage.

Adelaide Brighton (ABC) has been bludgeoned in this market meltdown and $1.35 is the level it hit at the pits of the GFC in 2008. If it starts to sink below that level, it will start to look interesting again. If you look at the chart you can see it has slid from almost $7 in 2018 to its current price of $2.24.

Adelaide

A read through ABC’s last set of results points to the difficulties in the market for its cement and aggregates business. It has also embarked on a rationalisation program before all of this coronavirus hysteria.

We hold no positions in ABC or BLD as yet but will look to accumulate should the market continue its sell-off towards these 2008/9 lows.

The national government is out of options but to build out locally. They have already used the bushfires excuse to ditch the budget surplus plans so might as well push a bold infrastructure plan to save us all!  The best plan would be a high-speed rail project which addresses real long term needs of Australians.

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.

A worthwhile 20 minutes on nuclear

Michael Shellenberger makes a sensible case for nuclear power. A worthwhile 20 minutes with a lot of interesting statistics especially in comparing nuke power to renewables in terms of life cycle costs.

Some interesting stats are as follows:

Germany’s carbon emissions have been flat since 2009, despite an investment of $580 billion by 2025 in a renewables-heavy electrical grid, a 50 percent rise in electricity cost.

“Consider California. Between 2011–17 the cost of solar panels declined about 75 percent, and yet our electricity prices rose five times more than they did in the rest of the U.S.”

Building a solar farm is a lot like building any other kind of farm. You have to clear the whole area of wildlife…Thanks to its energy density, nuclear plants require far less land than renewables. Even in sunny California, a solar farm requires 450 times more land to produce the same amount of energy as a nuclear plant.”

“Solar panels require 17 times more materials in the form of cement, glass, concrete, and steel than do nuclear plants, and create over 200 times more waste…We tend to think of solar panels as clean, but the truth is that there is no plan anywhere to deal with solar panels at the end of their 20 to 25-year lifespan…Experts fear solar panels will be shipped, along with other forms of electronic waste, to be disassembled—or, more often, smashed with hammers—by poor communities in Africa and Asia, whose residents will be exposed to the dust from toxic heavy metals including lead, cadmium, and chromium.

Zali better pray that politicians don’t judge her climate bill on the results of Warringah

FNF Media was curious as to how the tally for Warringah MP Zali Steggall OAM’s ‘Roadmap to Zero‘ (R2Z) worked. As is often the case with these grassroots woke causes, the structure of the claims can be misleading. Amateur data collection methodology can undermine the very cause. We reveal how easy it is.

R2Z currently claims 551 ‘households’ have signed up from the 66 when we first looked into it earlier in the week. Technically this would mean that 0.8% of households in the Warringah electorate have signed her compact, up from 0.1%.

To turn that on its head, Steggall, who ran on a campaign of climate change, can’t seem to get the other 99% of households in the electorate over the line to sign up to R2Z.

Looking deeper into the sign-up process we found it only involved one’s email, name and postcode. That’s all. So one could technically live in Newtown, input a Mosman postcode and sign up. There doesn’t seem to be a process to cross-reference the signatories to the electoral roll.

One would think if the honourable member wished to truly get an accurate map of where the more environmentally conscious residents lived, a fixed address may have been a more useful process to ensure that the inputs were a) legitimate and b) where resources might need to be focused. Easy to have people tick a “privacy” waiver if indeed they are passionate enough to save the planet.

It is a bit hard to claim ‘household’ when one’s full address can’t be logged. There is nothing stopping all members of the same household signing up of the same person using multiple emails. This just reduces the quality of the data collection from a statistical perspective.

As awful as 0.8% of households is, 0.35% of the 147,333 Warringah residents is even worse.

Beyond the fact that 99% of her own electorate seemingly doesn’t care for R2Z, The Guardian ignores that and concludes,

The woman who toppled Tony Abbott in Warringah at the last election on a platform of climate change action now has the whole parliament in her sights as she seeks bipartisan support for a climate change framework bill aimed at transitioning Australia to a decarbonised economy.”

She won on a platform to remove Tony Abbott.

Ironically The Guardian includes her R2Z link as a “conscience vote” which sort of undermines the argument,

Steggall and the crossbench have begun a conscience vote campaign online and within their communities. They hope to win over enough government MPs to see the bill, which has been modelled on existing legislation in the UK, New Zealand and Ireland, pass in Australia.

She better pray politicians don’t judge her bill on the strength of the commitment of the residents or households of Warringah.

FNF Media endorses Steggall’s view reported by The Guardian

With the government’s party room once again at war over climate policy, Steggall said it was time to let individual MPs speak for their communities rather than toe a party line.”

Warringah has spoken, even with the risk of dodgy data collection. Mickey Mouse awaits updates on how to save the planet.

Extinction Rebellion trashes Auto Show

These climate activists are unhinged lunatics. This is the justification that Extinction Rebellion (XR) used for trashing the Brussels Autosalon was as follows,

The truth is, no car is green…The private car is no longer compatible with the Climate and Ecological Crisis….Governments must stop pouring billions into roads and instead make mass public transport affordable, accessible, reliable and convenient.

The Brussels Times reported that 187 were arrested and charged €2,000 each. Febiac, the auto show organizer, said XR’s display at the event caused a whopping €367,829 in damages.

There is a difference between protesting and breaking the law by trashing private property.

Febiac, to its credit, gave XR approval to protest under certain guidelines. The organizer’s Joost Kaesemans said, “We sat together with people from Extinction Rebellion for the salon, we told them they could hold a demo, sing songs and hand out brochures...But we also told them that if they bothered visitors and wreaked havoc, we would take measures. They did not stick to that, so there are consequences.”

So even when the organizers play ball, the fools of XR think they have carte blanche to act as they please. Hopefully XR protestors are forced to pay up, serve time and get handed a bill for wasting the time of the police.

If only XR protests were about saving the planet and not seek to control the way others live their lives.

One final question – does XR have a strategy to re-employ the 15mn that work in auto related industries? Of course not.

How many oil & gas companies ever advertised in the wokenist Guardian?

For such a spiteful alarmist newspaper, it is highly unlikely that many, if any oil and gas companies regularly advertised in The Guardian. So this token (woken) gesture speaks volumes about the virtue signaling nature of the rag. Presumably Rupert Murdoch will pick up those spoils? The management probably hasn’t thought of that.

While The Guardian might chalk it up as a victory, it is without doubt they are still powered largely by fossil fuels, including coal-fired power. It’s journalists no doubt use planes, cars and other forms of fossil fueled transport to produce their alarmist articles.

The Guardian proudly wrote,

ICYMI, we made an important announcement yesterday. We will no longer accept advertising from oil and gas companies, becoming the first major global news organisation to institute an outright ban on taking money from companies that extract fossil fuels. It will be implemented with immediate effect. https://gu.com/p/d6qq4/au

“Our decision is based on the decades-long efforts by many in that industry to prevent meaningful climate action by governments around the world,” the Guardian’s acting chief executive and chief revenue officer said in a joint statement. “It’s true that rejecting some adverts might make our lives a tiny bit tougher in the very short term. Nonetheless, we believe building a more purposeful organisation and remaining financially sustainable have to go hand in hand.”

In May last year we also updated our style guide to change the language we use to more accurately describe the environmental crises facing the world. This is why we favour “climate emergency, crisis or breakdown” instead of “climate change”. We also favour saying “climate science denier or climate denier” instead of “climate sceptic”. https://gu.com/p/bfgxm/au

We will not stay quiet and we want the Guardian to play a leading role in reporting on the environmental catastrophe.

As we’ve reported in the past, The Guardian begs for charity after its articles because it’s content is not unique enough to attract a paying audience. It bats against the SMH and ABC for its readership- no palpable differentiation, even if the paper admits it loves using climate hyperbole.

As for being a “tiny bit tougher in the short term” on revenues it is probably as immeasurable as Australia’s impact on C02 in the atmosphere…i.e. 0.0000134%.

Get woke, go broke. Perhaps the paper should reflect on the quote from Rockefeller,

Charity is injurious unless it helps the recipient to become independent of it.”

Wouldn’t hire you in a pink fit with that attitude

You have got to hand it to the next generation. Before they’ve been hired, many are already dictating terms to prospective employers.

Despite not proving they’re worth one euro cent of value to a company they are already showing their incapacity to think creatively or show a basic modicum of balanced thought, innovation much less display respect to their future bosses.

What company would openly want to hire graduates who think they know more than the companies they might work for? With so much knowledge, FNF Media is surprised these kids don’t demand a position on the board.

It is wonderful that the self entitled generation have such big tickets on themselves. A Student Manifesto says:

We want to take advantage of our power as students by turning to employers that abide by the demands set out in this manifesto. We affirm that it is possible to live decently without drowning into either overconsumption or utter destitution; that the economic system must be aware of its dependence on environment in order to be sustainable; and that solving environmental issues is key to reducing inequalities and conflict risks.

According to EU Observer,

Over the past 15 months, more than 32,000 students or recent graduates have signed the manifesto, mostly – but not only – in France.

What if the company manufactures envelopes and stationery? Will it violate the manifesto? France has a robust industrial sector. Will Alstom, Thales and Renault be forced to hire inferior graduates? Maybe they’ll need to invest more in AI.

When we boil it all down to gravy we can be dead certain that these kids will demand more regulation to make up for the brainwashing drummed into them by leftist institutions who have not prepared them for the real world.

China and other nations not beholden to these ideological gimmicks must relish the thought that Europe is becoming so hard core with respect to stifling innovation that they’ll be able to snap up distressed assets in France on the cheap. Talk about a future of self inflicted wounds.