Have the Tides Finally Turned?

As we descend deeper into the pandemic caused by Covid-19 one wonders how it’s affecting those eco-charities pushing the “climate emergency and the reputed damage caused by fossil fuels. They claim; we must eliminate carbon emissions by 2050 or the world will face a disaster.

The coronavirus pandemic sweeping the world at present has meant the “climate emergency” eco-charities have been screaming about for the past several decades, has been relegated to the back pages of both the MSM and the virtual internet community.  It is now a “back of mind” issue for almost all Canadians today, as the impact of a real emergency has taken hold.

One wonders if the decades, of this reputed emergency have passed and signifies we have wizened up to what many perceive as an unprecedented “Ponzi scheme?”  Only time will tell!

Tides Canada, a charity with US links

One of the larger and more aggressive charities to have pushed the “climate emergency” agenda in Canada is Tides Canada, an outgrowth of a US charity founded in 1976.  The US charity in 2018 had revenue of $548 million and handed out (granted) 54% or only $296 million of it.  The Canadian arm of Tides is two charities; Tides Canada Foundation and Tides Canada Initiatives Foundation. Tides Canada was founded in the year 2000 according to their website.

A review of their latest CRA filings for the two charities show collective revenues of $35.884 million versus collective revenues of $7.416 million in the prior year.  So, revenues were up by $28.468 million however, $7 million of that was simply a donation from Tides Canada Foundation to Tides Canada Initiatives Foundation. The actual increase in revenue was therefore up $21.458 million or 289.3%.  From examination of the $7 million transferred it appears a lot of it was destined for First Nations grants which raises the question; were those grants connected with the rail blockades aimed at stopping the Coastal Gaslink pipeline?

If one discounts the inter-foundation transfer and looks at where the $28.468 million actually came from you discover, $5.431 million or 18.8% came from Federal, Provincial and Municipal governments,  $7.404 million (25,6%) came from outside Canada, 25.3% or $7.298 million came from other charities and only $3.445 million or 11.9% were actual donations from parties who received charitable receipts.

Reviewing Tide’s donations, the two foundations paid out $12.7 million in grants including those paid to First Nations. The usual cabal of eco-charities (focused on the elimination of the Canadian oil and gas sector) received grants from Tides and included; Environmental Defence, the Sierra Club, the David Suzuki Foundation, Pembina, the Canadian Parks and Wilderness Society, etc. etc. Total grant payouts represented 43.9% of the $28.868 million of adjusted gross revenues. To this writer, that suggests an inefficient charity with well paid staff.  Along those lines an examination of the CRA compensation report for the top 10 employed by the foundations suggests an average salary of about $118K each.

Eco-warrior concerns

The pandemic seems to be causing angst elsewhere amongst the proponents of the “climate emergency” with one article suggesting that “EU carbon market prices are plummeting as a result of the economic shutdown.” The article noted as of March 25th the price had dropped by 40% and a Polish representative called for scrapping it altogether even though it generated €2.2 billion in auctioning revenues last year for Poland.  If there are low levels of emissions, which is the current situation with business shut down, companies who normally emit them don’t have to buy carbon credits.  A recent article in January 2020 stated “The European carbon market – the world’s largest by volume and value – rose in worth by 30% to €169 billion.”  Many of those European country’s governments will suffer severe revenue shortages as those invisible emissions decline.  As a result, it may cause them to either increase other forms of taxation or reduce spending. As an aside, the emissions reductions may also negatively affect agricultural production and drive food costs higher due to reduced crop yields.

In the US an emerging concern has been amplified by AWEA (American Wind Energy Association) with them saying on March 19ththe global pandemic is putting $43 billion of wind industry investments and payments at risk.”  As explained in the Power Magazine article the biggest concern is not about the people affected by Covid-19 it’s about the delays that will occur in erecting industrial wind turbines.  The delay will result in “expiring tax credits” so AWEA have appealed to Congress.

AWEA in its appeal to Congress said that developers of wind energy projects have been moving forward “based on what appeared the safe assumption that their projects would qualify for the federal production or investment tax credits”.  With those tax credits expiring, delays in completing those projects could push them past deadlines to qualify for the credits.”

Not surprisingly AWEA have got the Democrats on side as the article goes on to state: “Leaders of the House Sustainable Energy and Environment Coalition on Thursday said they will push for tax credits for renewable energy in any stimulus legislation. Democratic Reps. Gerry Connolly of Virginia, Doris Matsui of California, and Paul Tonko of New York, co-chairs of the committee, in a statement said, “Our members pushed for these credits in the end-of-year funding package and will continue to fight for them in this round of economic stimulus.”

It is discerning to realize; the eco-warriors, the carbon market traders, the wind and solar renewable energy companies and left leaning politicians continue to gang up on hard working taxpayers and now as the world faces a true emergency they have the gall to ignore the pandemic and instead continue to push their agenda at the expense of the citizens of the free world.

It’s time for the cabal to take off their blinkers and to understand, “the tides have turned”!

This Ponzi scheme must come to an end!

Author: parkergallantenergyperspectivesblog

Retired international banker.

6 thoughts on “Have the Tides Finally Turned?”

  1. Thank you Parker. The “tides have turned” indeed.
    Is it financially feasible for industrial wind turbines already in operation to continue to be subsidized by Ontario ratepayers until the end of the contracts?
    In the case of the largest project in Ontario, that’s another 15 years!
    Will these contracts be cancelled by invoking force majeure? This financial crisis was truly unexpected when those long term contracts were signed by the Liberal government.

    Liked by 1 person

  2. Has anyone looked into BlackRock Financial and their role in Green Energy/ Carbon Credits/ Economic Collapse?

    Here is a link to Blackrock’s role in the Canadian Pension Fund (CPP) purchase of Industrial Wind Turbine contracts in Ontario Canada.
    https://blackrocktransparencyproject.org/2018/08/27/how-canadas-infrastructure-bank-was-created-by-and-set-up-to-benefit-blackrock/

    Has anyone investigated BlackRock’s role in US debt? I don’t have evidence for this, but is it possible that BlackRock is using Carbon credits (eg., from the EU) as a vehicle to purchase US debt?

    Liked by 1 person

    1. Exactly. It’s remarkable how deep it goes and how many forcefully reject the notion that renewables are money scams and laundering.

      Like

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