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ENVIRONMENT AND JUNK SCIENCE

The Economic Cost of Eliminating Fossil Fuels By Andy May

https://wattsupwiththat.com/2022/05/28/the-economic-cost-of-eliminating-fossil-fuels/

The debate on how much impact humanity has on climate change continues. As nearly everyone knows by now, there is no observational evidence that humans have a significant impact on climate, so the debate is mostly over which future climate projection is likely. It also isn’t clear that the changes we might cause are bad, most of the evidence suggests that additional CO2 and warming have been beneficial so far and will likely be beneficial in the future. But what if we do decide to eliminate fossil fuels? What is the economic impact?

Gregor Semieniuk, and nine co-authors have just published an open-access paper in Nature Climate Change discussing this option. The net present value of future lost fossil fuel profits exceeds $1.4 trillion, with $0.4 trillion lost in the U.S. alone. Compare this to the loss of about $2 trillion in U.S. home value during 2008, according to Zillow, due to the housing crisis. Note the two numbers are not directly comparable, as we are comparing fossil fuel profits to total home value, not homeowner’s equity. Average 2021 U.S. home equity is about $153,000 and the average cost of a home is about $374,900. This ratio reduces the $2 trillion-dollar 2008 loss in home value to a loss of 0.8 trillion in home equity. We could expect a serious economic shock from the loss of oil, gas, and coal assets.

Most of the risk falls on private investors who are overwhelmingly in OECD countries, especially in the U.S. and U.K. To better put this into perspective, the OECD GDP for 2021 was $59 trillion and the U.S. GDP was $21 trillion.

ESG’s power grows as banker is canceled for talking sense on climate change By Rupert Darwall

https://nypost.com/2022/05/24/hsbc-banker-stuart-kirk-suspended-for-climate-change-remarks/

Last Thursday, something extraordinary happened: A senior HSBC banker, Stuart Kirk, told the world that climate change, though real, is not something financial markets need worry about. “Unsubstantiated, shrill, apocalyptic warnings are ALWAYS wrong,” one of Kirk’s presentation slides read.

The reaction was instantaneous. Christiana Figueres, former head of the United Nations climate secretariat, denounced Kirk’s remarks as “abhorrently outrageous,” words that might well describe Russian President Vladimir Putin’s invasion of Ukraine — but a banker’s presentation analyzing climate financial risk for what it is?

Four hundred years ago, people were burnt at the stake for believing the wrong things about religion. Today, they get fired for questioning the climate-change catechism.

Figueres demanded HSBC immediately cleanse itself of Kirk’s remarks and fire the climate heretic. “I do not agree — at all — with the remarks made at last week’s FT Moral Money Summit,” bank chief executive Noel Quinn duly declared, avoiding any mention of Kirk by name. “I am determined that our team won’t be distracted by last week’s comments.” On Monday, it emerged HSBC had suspended Kirk

A climate change class action lawsuit: is it viable? By Christopher Garbacz

https://www.americanthinker.com/blog/2022/05/a_climate_change_class_action_lawsuit_is_it_viable.html

A few days ago, I suggested that a climate change class action lawsuit should be filed against those parties that clamor to destroy the economy via a Green Agenda that seeks to ban fossil fuels. Some commenters raised an interesting point: How do you prove damages? I think it’s possible and would serve as a good basis for any legal complaint.

The Green Agenda is supported in part or full by the following parties: federal, state, and local governments; universities; Green NGOs; foundations; corporations; renewable proponents/owners; and entrepreneurs. A court could determine if these entities are correct that anthropogenic climate change really will destroy the planet and mankind along with it.

To date, there’s never been an open evaluation of this issue, which traces directly to the UN IPCC Reports and the reports’ subsequent use to justify destroying the present universe of fossil fuel energy that supports our economy. With witnesses battling it out in a single forum, the court could assess whether it’s more likely than not that the world faces catastrophic destruction.

If there is no proven scientific basis for the Green Agenda, then it should be abandoned. Those harmed by the Green Agenda should be awarded the assessed value of the damages suffered.

If you the internet for “A Climate Change Class Action Lawsuit,” you can find my article buried deep in Google. Every other site pulled up refers to lawsuits brought against governments for failing to implement the Green Agenda quickly enough to save the planet or against corporations accused of working to destroy the planet. This Green Agenda litigation is sufficiently well-established to suggest that there’s no reason not to bring a case that asserts the opposite charge: That the Green Agenda is destructive because the risk to the climate is non-existent. It just won’t be a Green lawyer bringing the case.

Putin’s Useful Idiots: How U.S. Climate Extremists Are Funding Russia’s Agenda By: Victoria Coates and Jennifer Stefano

https://thefederalist.com/2022/05/19/putins-useful-idiots-how-us-climate-extremists-are-funding-russias-agenda/

The desolation of U.S. energy security has bolstered Vladimir Putin’s dangerous geopolitical aims.

Russia’s invasion of Ukraine is illuminating an ugly truth: the anti-fracking war on America’s energy security is being waged by well-funded, radical U.S. environmental groups, as well as interests tied directly to Vladimir Putin. For years, the U.S. government has investigated Russian financial ties to environmental groups that push for ending U.S. fossil fuel production and have successfully shut down fracking sites and pipelines, to the detriment of U.S. workers and consumers.

Who benefits? Putin, because the desolation of U.S. energy security has bolstered state-owned Gazprom and his dangerous geopolitical aims.

Before the war on Ukraine, the U.S. Congress began exposing connections between Russia and little-known foundations that donate to major environmental groups such as Sierra Club and National Resource Defense Council (NRDC). The Senate Committee on Environment and Public Works released a 2014 report noting a small group of rich Americans was controlling environmental groups and collaborating with questionable offshore funders to maximize support. In 2017, two congressmen called for further investigation of the connection between these funders and Russia.

Blog Weaponizes Sixth Grade Arithmetic Against Climate Change Fanatics The costs of combatting global warming are astronomical. by Rael Jean Isaac

https://spectator.org/blog-weaponizes-sixth-grade-arithmetic-against-climate-change-fanatics/

On May 9, the Wall Street Journal published an article warning that traditional power plants are being retired more quickly “than they can be replaced by renewable energy and battery storage.” The Journal’s belated discovery that the war on fossil fuels threatens a future of rolling blackouts would come as no surprise for those who have read Francis Menton’s brilliant, deceptively simple blog, the Manhattan Contrarian.

Menton says his entire contribution to the global warming debate boils down to being one of the few people willing to do basic arithmetic. Menton dismisses the idea that his background — majoring in math and economics in college and pursuing a career at the major New York law firm Wilkie, Farr & Gallagher — prepared him for taking on the consensus that achieving zero net emissions is a workable target. Menton told The American Spectator: “The impossibility of [an all-renewable future] is really just arithmetic, the kind you learn by sixth grade. Maybe you want a spreadsheet program to help you but in terms of the math, it’s nothing you didn’t learn in elementary school.”

Menton put that math to use when he attended a public hearing May 3 called by the New York Climate Action Council. The hearing, which invited public comment, concerned the “Draft Scoping Plan,” which lays out the state’s plan for achieving the net-zero emissions target established under New York’s 2019 Climate Act.

Organic BS The science just doesn’t add up. John Stossel

https://www.frontpagemag.com/fpm/2022/05/organic-bs-john-stossel/

Activists have convinced Americans that “organic” food is better — healthier, better-tasting, life-extending.

As a result, poor parents feel guilty if they can’t afford to pay $7 for organic eggs.

This misinformation is spread by people like Alexis Baden-Mayer, political director of the Organic Consumers Association. She says organic food is clearly better: “The nutrition is a huge difference.”

But it isn’t. Studies find little difference.

If you still want to pay more for what’s called “organic,” that’s your right. But what’s outrageous is that this group of scientifically illiterate people convinced the government to force all of us to pay more.

Congress has ruled that GMOs (genetically modified food) must be labeled. Busybodies from both parties supported the idea.

A climate change class action lawsuit By Christopher Garbacz

https://www.americanthinker.com/blog/2022/05/a_climate_change_class_action_lawsuit.html

The UN IPCC and associated green activist groups; Federal, state, and local entities; universities; foundations; non-profit groups; and many corporations argue that the world will be destroyed without policies designed to turn on their heads the current energy system and American economy. However, the green agenda that is designed to eradicate fossil fuels will inflict enormous economic damage on America’s ordinary citizens and overall economy—and will do the same to other countries as well. This is true even though the “climate change” models have never been fully and objectively vetted, so there is no solid evidence to justify these upheavals.

Nevertheless, American Department of Energy, Environmental Protection Agency and, indeed, almost every federal agency and their federally funded cohorts in many state agencies are committed to decarbonization. This is true for a commitment that they admit that they do not know how to implement, as to which they cannot ascertain the final cost, and they’re unable to determined the overall consequences of their policies.

Daniel Yergin, in his The New Map, explains that the current energy system took 100 years to develop. To turn it on its head within a few decades is simply not possible. He predicts that we will move towards decarbonization, though at a slower pace than currently targeted. Further he claims that the “climate change” debate is over, even if the green winners are found to be grossly wrong and trillions of dollars are wasted. But should we accept that a debate that never really took place is over?

The Selective Targets of Green Scorn: Brian Wimborne

https://quadrant.org.au/opinion/doomed-planet/2022/05/the-selective-targets-of-green-scorn/

“Greens diktats concerning climate change, global warming, weather and the role of human economic activity in ending life has swept the world like a virus, for which the only antidote is rational thinking. Without a reasoned and rational approach to global problems, Green ideology may turn out to be the greatest confidence trick in the history of Mankind.”

There is no surer way for a political party to gain voters’ attention than to predict the imminent end of the world. Creating fear in the public mind is as old as politics, itself. Having shaken people’s faith in the future by instilling that fear, the party’s next ploy is to offer a solution that is not open for debate.

No contemporary party has used this method of politicking with such success as The Greens. For years they have successfully portrayed themselves as tree-hugging pacifists whose sole concern is protection of the environment. However, this is only a minor part of an ideology founded on scenarios that forecast the end of the world.

One of their earliest forecast calamities depended on a hole in the ozone layer above the Antarctic. In the view of the Greens, this would expand, causing increased solar radiation that would endanger life on Earth. This idea did not attract enough public attention to elicit the widespread fear the Greens’ always need to advance their agenda. Moreover, proof that the hole was expanding, was not convincing.

Next came global warming. Selective evidence of increased temperatures that would cause droughts, crop failures and mass deaths from starvation, pointed to humanity’s inevitable end.

Is the climate scare train starting to derail? Tom Knighton

https://tomknighton.substack.com/p/is-the-climate-scare-train-starting?s=w

Climate change has been the great doom-and-gloom scenario of my life. Sure, the hole in the ozone layer was scary, but we were going to be wiped out by climate change long before we got cancer from the lack of ozone.

And, to be honest, I believed it all.

Then again, this was pre-internet, so it was much more difficult to find contrary information to what the media was dishing out.

And that’s without going into Al Gore’s craptacular piece of propaganda.

But for years, we’ve had a lot of rhetoric about how everything horrible is going to happen, only for climate models to universally fail to pan out remotely as climate scientists claim.

Now, Nature is taking scientists to task for the doom-and-gloom.

The Global Warming Scare Is Most Certainly Overheated

https://issuesinsights.com/2022/05/10/the-global-warming-scare-is-most-certainly-overheated/

Does anyone wonder where all the global warming destruction is? After all, the media are unrelenting in telling us how much climate change caused by man is affecting us. Yet no existential threat has emerged. There’s something off with the story.

The climate alarmists have based their predictions of doom on computer models that have been projecting global temperature increases, the likes of which, they tell us, are unsustainable. We must cut our carbon dioxide emissions, even if (actually, especially if) it hurts developed world economies.

This is the narrative we’re bombarded with on a daily basis. And it’s wrong.

Those models that have been used to fuel the fright are, without a doubt, unreliable. According to a recent story published in Nature magazine written by a group of climate modelers, “a subset of the newest generation of models are ‘too hot’ and project climate warming in response to carbon dioxide emissions that might be larger than that supported by other evidence.”

The authors, though, are careful to preserve the narrative, warning that “​​whereas unduly hot outcomes might be unlikely, this does not mean that global warming is not a serious threat.” They can’t help themselves.