Interesting Observations here at Home and Elsewhere Before COP 26

The past few days have again shown the world the negative effects of trying to control “climate change” associated with stemming the oft cited UNIPCC scary forecast of a 1.5 degree of warming.

Ontario Comes First in Subsidizing Energy Costs

On October 19,2021, Ontario’s FAO (Financial Accountability Office) released a report titled “Home Energy Spending in Ontario: Income and Regional Distribution”. It is an interesting report and tells us how the Provincial government; ie: taxpayers, subsidized residential electricity and heating costs over the 2019 year. The report breaks down the cost of residential electricity and heating costs in five sectors by both geography and income and tells us the costs of those subsidies.  We should suspect the taxpayer cost has increased significantly since the end of 2019 due to the Covid-19 pandemic and on and off again lock-downs. We should also recognize those costs were brought to us by the well-over 100% increase in electricity costs ratepayers experienced as the McGuinty/Wynne government brought us the GEA (Green Energy Act).  The FAO’s estimate for the subsidies in 2019 for the electricity sector was a cost to taxpayers of $3.5 billion. The report as noted highlights spending on those necessities of life in five regions and one of them is “Eastern Ontario”.  One sentence in the report stood out as it was about the Eastern Ontario region where they experience the highest “income per household” and the highest “average home energy spending”!  The sentence referencing a portion of that region stated: “High household incomes and large dwelling sizes, particularly in the Ottawa-Gatineau area, drive high energy use in the Eastern region.” That should come as no surprise as the area is loaded with highly paid bureaucrats and politicians.  It is also the region where local politicians want to spend $57.4 billion to achieve “net-zero” emissions by 2050 for Ottawa only.  Hopefully they are not looking for any contributions to their plans from the rest of Ontario’s ratepayers or taxpayers.

How will UK PM Boris Johnson Dance for the Eco-Warriors at COP 26

A short article from “Oil Price” titled “UK Grid Relies For 62 Percent On Fossil Fuels For Its Energy” should be a shocker to PM Johnson with COP 26 mere days away and energy prices skyrocketing in the UK and Europe. Natural gas prices, in particular, have reportedly risen by over 400%. The captioned article noted electricity generated by natural gas represented the bulk (60%) of the 62% with coal generation representing the other 2%!  Another recent article in CNBC stated; “Rising gas prices aren’t a problem unique to Britain. In recent weeks, governments in Spain, Italy, Greece, and France have taken drastic actions to minimize its impact on consumers.” One should wonder how those representing the various governments will react to the thousands of Eco-warriors attending COP 26 in Glasgow who will insist on firm commitments to achieve the “net-zero” target to reputedly save the world from the dreaded “climate change” event. The developing world countries attending COP 26 will also be looking for handouts to help them get to net-zero.  The developed world countries, from whom they seek the trillions of dollars will be hamstrung as any funds they may have been prepared to commit are disappearing into the abyss to support their own citizens due to the climb in fossil fuel energy.

Just more bad news that Johnson will have to deal with!

Pledges by Banks to Cut Funding for Drilling of Oil and Gas in the Arctic and elsewhere Contain Loopholes

Less than a week ago Mark Carney, former Governor of the Bank of England convinced the “Big Six” Canadian banks to join his NZBA (Net-Zero Banking Alliance) mere days before the launch of COP 26 in Glasgow, Scotland.  The six Canadian banks brought the total number in the “alliance” to 81 representing 36 countries and US$58 trillion in assets. This would suggest many banks in many countries have not kowtowed to Carney or the UN despite the forecasted climate catastrophe. The signatory banks of the “alliance” reputedly agree to align their lending and investment activities to achieve net-zero targets by 2050 as well as set intermediate target reductions by 2030.

Needless to say, the eco-warriors such as Greenpeace weren’t satisfied!  Keith Stewart, senior energy strategist with Greenpeace Canada, said Canadian banks have to do more than join the alliance. “The world is accelerating toward a zero-carbon economy and Canadian banks are still playing catch up. Until they commit to a near-term phasing out of all financial support for fossil fuels and to fully respect Indigenous rights, they will still be part of the problem.”

The foregoing pitch by Greenpeace was also the subject of another article about “alliance” member banks lending to corporations involved in Artic oil and gas drilling as environmentalists and some asset managers (115 investment firms with assets under management of US$4.2 trillion) noted they want more action.  Apparently, banks are not specifically lending to Artic projects but do lend directly to corporations who then may use some or all of the funds for Artic related oil and gas exploration and extraction.

Somehow, I doubt the politicians in those two Artic countries of Russia (12.4 million b/d) and Norway (2 million b/d) who produce oil and gas have any intention of instructing their banks to stop providing the cash required to either fund new developments or provide the working capital needed to continue their generation.

We should believe the Mark Carney(val) and its push to get more members of NZBA will become harder as his support of UN efforts to reach net-zero by 2050 will cripple their economies much as it has in many of the European countries along with Canada.

LMDC Pushback and China’s Power Crises Impacts Global Economy

Well, as the expression goes; “the shxt has hit the fan” as India’s environment minister “said the delayed climate action and lack of leadership from developed countries have increased the cost of mitigation and adaptation in developing countries, and jointly flagged how “calling all countries to adopt ‘net-zero’ target by 2050 is inequitable.” What he was emitting (writer’s interpretation) at a meeting of the LMDC (like-minded developing countries) including China, Pakistan, etc. in Bolivia was: they won’t be bullied into any commitments at COP 26 to reduce emissions without the developed world handing them billions or trillions of dollars more.  With many of the developed economies suffering from declines in their GDP and climbing inflation it also seems unlikely they will commit to increase the promised $100 billion for developing countries.

As if to make matters worse in both developing and developed countries the global spikes in the cost of fossil fuel energy and its current limited supply has caused blackouts.  Interestingly those blackout events have affected developed countries who outsourced much of their manufacturing base and now are faced with shortages in obtaining supplies they are dependent on.  That has resulted in higher inflation, unemployment, reduced GDP, economic support for their workers and increased taxpayer debt.

The foregoing spells more bad news for the upcoming COP 26 conference in Glasgow, and reinvigorates additional screaming from the eco-warriors. 

One has to wonder will this cause the demise of the premise that CO 2 emissions will cause the world to collapse and force the eco-warriors to find a real job?   Only time will tell!

Coal’s comeback as gas prices surge, and COP 26 climate gabfest in Glasgow, Scotland

I was on the radio station NEWSTALK SAUGO 960 AM with Marc Patrone once again and we covered some interesting local and global issues including coal’s comeback and some of the events that will plague the COP 26 upcoming gabfest in Glasgow.

You can tune in here to the Marc Patrone radio podcast for October 13th starting at 1:07:50 for our chat.

or you can WATCH and listen to our conversation on NEWSTALK CANADA here:

https://www.newstalkcanada.com/?page_id=22

ECO-Warriors in Shock as Last Week’s Events Unfolded

A few news stories over the past week caught my eye due to their rational views overturning claims from ENGO pushing for success at COP 26 to achieve the “net-zero” target. Here are three of the best.

Shutting Ontario’s Gas Plants Would lead to Blackouts and Cost Households $1,200 More Annually

On October 7, 2021 Ontario’s IESO (Independent Electricity System Operator) issued a press release announcing they had reviewed requests from thirty (30) Ontario municipalities associated with their demand gas plants should be shut down.  The press release highlighted the findings of the report titled: “Decarbonization and Ontario’s Electricity Systemwhich were:

Completely phasing out natural gas generation by 2030 would lead to blackouts and the system changes that would be required would increase residential electricity bills by 60 per cent.

Ontario’s electricity grid is only responsible for roughly three per cent of the province’s total GHG emissions and is well positioned to support the electrification of other sectors.

Ontario’s electricity system is constantly evolving and the IESO is actively integrating emerging technologies that have the potential to meet Ontario’s long-term needs.”

The 60% increase in the first highlight noted above would increase residential bills by $100/month along with generating blackouts. The second highlight notes Ontario’s electric grid is one of the cleanest in the world yet eco-warriors such as the CRA registered charity; the OCAA (Ontario Clean Air Alliance) want to make it 100% emissions free but are seemingly OK if we experience “blackouts!

Followers of my blog will no doubt recall a prior article about the OCAA and their Chair, Jack Gibbons who wowed those 30 municipal councils convincing them to push the Ford led government to close the gas plants. It is interesting to look at the IESO data on the day of their press release as it easily demonstrates the inability of wind and solar generation to provide a reliable supply of energy.  Hour 17 (5PM) ended with those two generating sources providing a miserly 0.93% (157 MW) of that hour’s demand which was approximately 16,860 MW.  On the other hand, flexible and reliable gas generation provided 22.6% (3,807 MW) for that hour ensuring supply was sufficient for ratepayer needs.

Ontario ratepayers should be thankful IESO provided a report with facts to dispel the lies of the eco-warriors such as those spewed by Jack Gibbons!

You’re kidding when you say: UK’s Biggest Source of Greenhouse Gas is an ‘Eco’ Power Station

A very recent article in the UK’s Daily Mail cited the European Academies Science Advisory Council and stated; “using woody biomass for power is not effective in mitigating climate change and may even increase the risk of dangerous climate change”.  It is always gratifying to have others confirm what you, as an individual, noted in the past and this was one such occasion. An article I wrote and posted on Energy Probe basically reached the same conclusion as the EASAC over seven years ago in March 2014. The article noted wood pellets produced in North and South America for DRAX were shipped to England for transportation by rail to Yorkshire where DRAX’s generation station is located.

The Daily Mail’s article went on to note: “Drax in Yorkshire burns wood pellets, which are treated as a ‘renewable’ fuel and the site has attracted more than £800million of taxpayer subsidies. But analysis shows that the burning of wood for power – known as biomass – has been the cause of more carbon dioxide emissions than coal since 2019.” The article goes on to state: “Drax is Europe’s third largest CO2 emitter, exceeded only by Belchatow in Poland and Neurath in Germany. In the UK, Drax leads CO2 emissions, with RWE’s Pembroke gas power station coming in second with 4.3Mt of CO2.“ It does seem rather strange the  accounting rules allow Drax to be treated as “carbon neutral”!

Nice to see the truth for a change when it comes to the push to decarbonize the world by the eco-warriors but one should wonder why it took EASAC and the MSM so long to recognize those lies?

Greenpeace Loses Supreme Court Case Against BP

BP (British Petroleum) had been granted a permit by the UK government to drill for oil in the Vorlich Field in the North Sea but before they could activate the permit Greenpeace decided to challenge them in the courts.  The article, in the Rigzone Energy Network October 8, 2021 stated  “Environmentalist group Greenpeace has lost its court case which challenged the UK government’s decision to grant a permit to BP to drill the Vorlich Field”. Greenpeace’s principal claim was “the government gave no consideration to the climate impact of burning the fossil fuels extracted”.

The written ruling stated: “Although the appellants’ aspiration is for such extraction to cease, it does not appear to be contended that the UK economy is not still reliant in a number of different ways on the consumption of oil and gas. At present, a shortage of oil and gas supplies is a matter of public concern,” the Lord President, Carloway, added, referencing recent political developments around the gas price crisis. The ruling went on to state: “It would not be practicable, in an assessment of the environmental effects of a project for the extraction of fossil fuels, for the decision maker to conduct a wide-ranging examination into the effects, local or global, of the use of that fuel by the final consumer,”

The court however did push the decision up the line to elected politicians noting: “The Secretary of State’s submission that these are matters for decision at a relatively high level of Government, rather than either by the court or in relation to one oilfield project, is correct. The issue is essentially a political and not a legal one,” Lord Carloway concluded.

What the ruling suggests is Greenpeace and other ENGO should confine their activities to lobbying politicians and their bureaucrats as the legal system will only deal with laws passed by parliament.

The article also made mention that back in 2019 Greenpeace tried “to stop BP from drilling on the Vorlich field by intercepting its chartered drilling rig Paul B. Loyd, Jr. some 80 miles off Scotland, forcing the rig to turn back. Several arrests were made as a result.”

The three events noted above give us hope there are people still left on the planet with rational thought processes.  Perhaps some of them will infiltrate the MSM and the political parties!  We can only hope!  

As an aside the “net-zero” concept and electrification of everything in our lives was pushed via TV ads back in 1961 and the ads are still available on YouTube!  “Live Better Electrically”  No mention of either climate change or emissions back then however!

Canada Missed the Boat Thanks to Our Prime Minister and “The Sky is Falling” Environmentalists

Someone needs to tell Canadian taxpayers:

 1.Why we taxpayers paid for over 300 politicians and bureaucrats to attend the Paris COP21 Conference

 and

2.Why we committed at that time to reduce our GHG emissions by 30% by 2030 below 2005 levels (since revised to 40/45% by 2030) without a cost/benefit analysis or a little foresight?

Had the politicians and bureaucrats done either (without just listening to the “climate change” eco-warriors) they may have possibly seen future events we are now experiencing around the world! 

To wit:

European Energy Prices are Breaking Records

A colder and longer winter depleted gas supplies which have not recovered so prices have climbed as availability from Europe’s gas fields have fallen and Russia’s Gazprom is focused on restoring their own gas storage as winter approaches.  Other events such as much less generation from industrial wind turbines have affected demand to the point that even coal plants had to be fired up.  Both of those commodities are either at record highs or closing in on them.  As a recent article in Aljazeera noted; “Europe has the world’s most ambitious climate plan, but political will is being tested by soaring energy costs. As countries take steps to ease the blow on consumers, Spain warned the European Union that measures to reduce emissions “may not stand a sustained period of abusive electricity prices,”. To make matters worse, Norway, famous for its hydro power said they are “pressed” due to low water inflows so interconnections with the UK, Germany and Denmark means those countries cannot count on any supply from them during the high demand winter.

India sees Petrol, Diesel and Coal Prices at Record Highs

A article on October 2, 2021 stated both diesel and petrol prices in India reached record levels.  It should be noted India is dependent on imports to meet 85% of its oil needs so the effects on the economy will be significant. India is also dependent on coal for electricity generation with about 70% of it’s generation provided from that source and a Reuters article from October 1, 2021 noted “Over half of India’s 135 coal-fired power plants have fuel stocks of less than three days, government data shows, far short of federal guidelines recommending supplies of at least two weeks.“ Interestingly enough India competes with China for coal imports and they are the world’s largest coal consumer. The Reuters article goes on to note: “Coal prices from major exporters have scaled all-time highs recently, with Australia’s Newcastle prices rising roughly 50% and Indonesian export prices up 30% in the last three months.

China Experiences a Myriad of Blackouts

Recently a very observant contact sent me a seventeen-minute video dated September 30, 2021 and it was fascinating to watch as it contained numerous blackout scenes from Chinese homes and businesses mainly in North-East China where many of the larger manufacturers are located. Those companies have been told to either reduce energy usage during peak demand periods or cut the number of days they operate. One of the reasons for the blackouts is that approximately 57% of electricity in China is generated from coal which has increased in price. Those coal-fired plants are unable to increase prices due to government price controls of electricity so they have reduced their output in an effort to reduce losses. The shutdown of factories will affect the global supply chain and as one example, that has been noted in the press as both Apple and TESLA have been affected.  The latter is interesting as the push is on in Canada and around the world to limit sales of ICE vehicles and eventually banish them in order to reduce emissions. China has been a major supplier of batteries and other materials for EV manufacturers and additionally about 50% (4.7 million) of all EV in the world are owned by Chinese citizens.  Needless to say EV charging stations have been shut down by the blackouts so the enthusiasm to purchase EV by China’s citizens will surely diminish as they will in other parts of the world!

Energy Lawsuits may make COP 26 to be a Breakup of the Paris Accord

What looms ahead for Boris Johnson, the UK’s Prime Minister as host of COP 26 in Glasgow later this month is unknown but he should be concerned.  Beyond the recent events affecting so many countries around the world including the UK, in respect to fuel shortages and their negative effects on inflation and the global supply chain there is yet another one looming! A Reuters article published just a couple of days ago may cause the Paris agreement on climate change to be (appropriately) tossed in the garbage.  Specifically, what the article references is: “The Energy Charter Treaty (ECT) was originally drawn up to protect energy firms as the Soviet Union crumbled, but new analysis suggests it could allow coal plants in 54 signatory states to keep belching carbon dioxide for more than a decade.“ The article went on to say: “What they never thought about is that the treaty could be used against the EU countries themselves,” added Saheb who is now working as the lead author of a U.N. Intergovernmental Panel on Climate Change working group on climate mitigation.“  Saheb went on to suggest the suits could reach 1.3 trillion euros.  There are apparently a number of lawsuits that have already started totaling $18 billion with the largest being TC Energy’s $15 billion suit against the US under NAFTA (North American Free Trade Agreement) for cancellation of the Keystone Pipeline. Canada is also being sued under NAFTA by oil and gas company Lone Pine over a fracking moratorium by Quebec.

We are Not Back

Terry Glavin in an article in the National Post on March 15, 2017 noted PM Justin Trudeau went to the Paris Climate Summit in 2015 weeks after winning a majority and said: “Canada is back, my friends”. Trudeau and the other 299 plus politicians and bureaucrats he took with him simply gave away Canada’s prosperity which the Liberal Party inherited. He committed to reduce emissions and to basically shut down the fossil fuel sector.  His commitments are now biting us negatively.  If he had not been totally swayed by his buddy and puppet master, Gerald Butts, Canada might now be the best performing developed county in the world but instead we are scraping the bottom of the G7 and G20 barrels in terms of our GDP and our employment and inflation rates.

Had he reduced regulations, allowed pipelines to be built, mines (coal and others) to expand, etc. Canada would be prospering instead of contracting.  Our natural resources would be in demand around the world and Canadians would be reaping the financial benefits of foresight but alas the unelected eco-warriors won and now we are paying for the consequences! Should Trudeau decide to attend COP 26 let’s suggest he travel alone and when speaking in public he declares: 

Canada is at the back of the pack!

Climate Change Armageddon Has Arrived or so it Seems

Quite the week with some interesting things going on globally related to the electricity sector and how havoc has struck in some parts of the world! The following are just a few that caught my eye!

South Australia big Tesla battery sued for not helping during Queensland coal power station failure

South Australia has gone bigtime into renewable energy and back in 2016 they experienced a major blackout and in March 2017 the blame was squarely laid on renewable energy (wind and solar) by AEMO (Australian Energy Market Operator).  The blackout had triggered Elon Musk to step into the fray via a winning bid to build a battery storage unit which they did successfully in the 100 days promised. Since then other (TESLA) battery storage units have been added and one of them failed to deliver the power stored when called on back in 2019 and now are being sued by the AER (Australian Energy Regulator).  As it to top things off in Australia; a fire broke out at another big TESLA battery storage unit (300/450MW) under construction.  One article about the fire stated; “More than 150 people from Fire Rescue Victoria and the Country Fire Authority responded to the blaze, and it is expected to burn throughout the night for 8 to up to 24 hours.”  The foregoing lawsuit and the recent fire suggests battery storage may not be what will supply us with reliable power to back up intermittent wind and solar.

As one would expect California has also gone full bore into battery storage and they too recently experienced an event which forced the shutdown of Moss Landing reputed to be “the largest battery storage facility in the world“. The owners, Vistra Corp. claimed; “a limited number of battery modules” at the storage facility overheated on Saturday night, resulting in the facility going offline.“ Another more current article on September 16, 2021 had the following: “Now, only nine months into operation and less than three weeks after Vistra cut the ribbon on an expansion, most of the largest battery storage facility in the world has gone dormant with no timeline for a return.“  It certainly appears, based on these recent events that unreliable power generation storage should not be the back-up for unreliable and intermittent power generation.

Close to home and a recent Hydro One Bill

Receipt of a recent Hydro One bill and the information contained in it led the writer to do a quick calculation to determine the “total cost” per kWh (kilowatt hour) on what I was required to pay. Simply dividing my total bill by kWh consumed showed the all-in cost was 14.3 cents/kWh. Flipping the bill over however one notes, a little box titled “What do I need to know?”  That box had a fairly large amount listed as “Total Ontario support:” followed by a dollar amount. When the latter amount is added to what I have to pay and divided by our consumption the cost per kWh comes to 23 cents/kWh.  The difference of 8.7 cents/kWh multiplied by the kWh delivered to “residential customers” (13.448 billion kWh) by Hydro One (according to the 2020 Yearbook of Distributors recently released by the OEB (Ontario Energy Board), indicates tax dollars paid to them to keep residential rates at 14.3 cents/kWh amounts to $1.170 billion but their pretax net income was only $414 million.  Now they are applying to the OEB for approval to spend $13.5 billion over the next five years which will undoubtedly further increase rates and tax subsidies. 

China’s sudden hate for cryptocurrency mines

An article in the Financial Post about theft of electricity to create a bitcoin mining operation by a public employee of a NY State County suggested he will face a myriad of criminal charges.  The FP article referenced a NY Times estimate that bitcoin mining uses 91 TWh globally which is about what 8 million average Canadian households consume annually. Another article noted a Cambridge University study suggests; “Globally, Bitcoin mining consumes around 121 TWh a year

The bulk of bitcoin mining has been in China which was once said to contain about 75% of all cryptocurrency mines but China has been forcing out the miners who were using their low-priced electricity meaning many of them have either moved or are looking elsewhere. We should suspect China’s move is associated with the upcoming COP 26 Conference in Glasgow.  China will not be stepping up to agree to reduce their emissions at COP 26 but by booting out the bitcoin miners (63% reputedly used coal generated electricity) they will reduce the need to add more coal fired electricity.  One should also understand that the current price for coal per ton has soared over the past 12 months which presumably is driving up energy costs in China. Where those cryptocurrency miners relocate to however, will directly impact emissions from the countries they move to.

The Circular Economy

The WEF (World Economic Forum) in one of their posts stated: “The circular economy, which promotes the elimination of waste and the continual safe use of natural resources, offers an alternative that can yield up to $4.5 trillion in economic benefits to 2030.“ Is the following picture (sent to me by a contact who asked me to spot the bulldozer) what the founder of the WEF, Klaus Schaub and one of his advisors; Mark Carney, had in mind?

Unrecyclable wind turbine blades being buried in a landfill seem to form part of the “Circular Economy”!

One should wonder why the WEF and others push renewable energy from wind and solar and believe the world’s population will not recognize the lies they are advancing to simply increase their wealth?

If the UK’s PM Boris Johnson was smart, he would cancel COP 26 as the world struggles to cope with the faulty unreliability of the “green energy” adopted by so many politicians and caused a cessation in investment for reliable fossil fuels and a significant spike in their costs due to green energy’s failures.

The results around the world of the “green” push continue to illustrate the fallacy of exiting fossil fuels without having anything resembling reasonably priced reliable power at the ready!  

Marc Patrone Podcast of September 24, 2021 covered lots of ground

I was once again invited to be on the Marc Patrone Show on SAUGA RADIO, 960 AM on Friday, September 24th as his closing segment and we covered some interesting topics including: Canada’s taxpayers picking up the cost of urban transit fares, electric buses, China’s sudden hate for cryptocurrency mining, the UK’s recent power problems on the brink of COP 26, the upcoming “climate change” pandemic and allocation of individual “carbon credits” and a quick look at the Artic and China’s interest in wanting to mine our natural resources.

You can listen to the podcast here starting at 1:25:50:

Minnesota Court Case, Electric Vehicles in the UK, China’s Emissions and COP-26 etc.

Marc Patrone, host of his show each weekday morning on NEWSTALK SAUGA 960 AM had me on as a guest this morning (September 15, 2021) and the captioned covers only a few of the subject we discussed.

You can listen to our 15 minute chat on the podcast for September 15, 2021 starting at 1:21:50 here:

Podcasts

The Circular Economy will Take “Peoplekind”* Down the Drain

Robert Hornung, CEO of CanREA (Canadian Renewable Energy Association) on July 26, 2021 posted an article on their website titled “Taking Charge” and one of the early claims made in the article was:

A growing number of corporations are prioritizing the reduction of greenhouse-gas emissions within their environmental, social and governance (ESG) strategies and taking steps to ensure the electricity they use is generated by non-emitting sources, like wind and solar energy.”

The article doesn’t explain the reasons why those corporations are taking those steps but anyone following politics is aware; numerous “developed world” governments are passing acts or regulating emissions that put a price on them.  Those actions raise the cost of what corporations produce and suddenly the products they manufacture are no longer competitive with products produced in countries not imposing costs. Those countries like, Brazil, Russia China, India, South Africa, (BRICS country members) etc. will either produce similar products with lower prices or will attract those corporations. That means corporations will move to those locations and shut their manufacturing plants in countries like Canada who have imposed both a “carbon tax” rising to $170/ton by 2030 and another tax referenced as the “clean fuel standard”.  We should be confident those imposed costs will mean less jobs in Canada and other developed countries.

The CanREA article pushing wind, solar and battery storage, appeared before Ontario experienced a number of hot days in August which could have resulted in rolling blackouts or brownouts had we not had sufficient gas plants at the ready. The 5,500 MW (approximately) of wind capacity in Ontario went for a holiday.  Likewise the UK also recently experienced the failure of their 24.1 GW capacity of industrial wind turbines and were even forced to fire up one of their coal plants to avoid blackouts joining up with gas plants that provided 46.5% of their energy needs.

 Looking at the World Bank’s “Carbon Price Dashboard” Canada stands out as a country that has implemented emissions pricing well beyond other countries around the world. One should wonder “why” when our emissions are a miniscule 1.6% of global emissions and less than our percentage of global GDP (gross domestic product) of 1.9%.

Also worth mentioning is that China, a BRICS member, has basically stated they “won’t be bullied into going green” at the upcoming COP 26 conference in Glasgow. In 2018 the five BRICS countries accounted for 42% of global greenhouse gas emissions, with China the number one emitter globally at 28% but they produced only 17.4% of global GDP in 2020.  Based on the foregoing Canada is almost twice as emissions efficient as China but apparently the eco-warriors, politicians and those multi-billionaires like Bloomberg, Fink, Gates and the former Governor of the Bank of England and Bank of Canada, Mark Carney, in conjunction with the WEF (World Economic Forum) want more! The latter fully support the concept of mankind causing global warming and the reputed upcoming “climate pandemic” in the hopes of becoming wealthier!  The rest of us, based on what the WEF tell us will succumb to their forecast of; “by 2030 You’ll own nothing And you’ll be happy”! One should assume the Board of Trustees of the WEF including luminaries like Al Gore, Mark Carney, Laurence Fink and our current Minister of Finance, Chrystia Freeland and others including Michael Bloomberg, Bill Gates, etc. will be the ones owning everything.

The WEF supports the “circular economy” which they claim; “promotes the elimination of waste and the continual safe use of natural resources, offers an alternative that can yield up to $4.5 trillion in economic benefits to 2030.”

Hmm, one should surmise, based on their short video telling us all how we will own nothing but be happy, whose pockets will be lined with the $4.5 trillion they claim will come from the forecasted “economic benefits.”

The other question is where will that $4,5 trillion come from?  We should suspect much of it will be created by the cost of purported “low-carbon energy”.

The International Energy Agency estimates that global investment in low-carbon energy will have to increase 2½ times by 2030 from its current level of about $620 billion a year to meet targets in the Paris climate agreement.”  If one does the quick math on the IEA’s estimate it amounts to about $13 trillion for the next 9 years. One should suspect the $13 trillion will come from the pockets of those who “will own nothing”!

Those investments In low-carbon energy are happening and gaining speed as large pension funds like the CPPI, asset management firms such as  BlackRock, Brookfield, etc. etc. invest our money in renewable energy in increasing ways as the Washington Post reported earlier this year.  

What the foregoing seems to magnify is the elites of the world coupled with the eco-warriors are sold on the “circular economy” and are intent on seeing the rest of us “peoplekind” head “down the drain”!

*A word created by Canada’s Prime Minister Justin Trudeau

Strathmere Group Declaration target # 4:

Strengthen investments in renewable energy and in energy efficiency and conservation through creating new clean energy jobs and increasing prosperity through new technologies.

This “declaration” went on to state: “energy security is best achieved through investment in the cleanest available energy and through ending our dependence on fossil fuels.”

Needless to say, Ontario ratepayers are well aware this particular “declaration” had already started to unfold prior to the signing of the joint letter in Washington on June 2, 2009.  Gerald Butts, one of the signatures on the joint declaration as the CEO of the WWF-Canada (World Wildlife Fund) was instrumental in the creation of the GEGEA (Green Energy and Green Economy Act) in Ontario.  The Act received third reading and royal ascent on May 14, 2009 almost a month before the “joint declaration” was signed. An excellent article by Terence Corcoran of the Financial Post from five years ago noted: “Prior to the 2007 election, Butts was a McGuinty insider. After the election, he became McGuinty’s principal adviser. As one of his biographical notes describes it, Butts “was intimately involved in all of the government’s significant environmental initiatives, from the Greenbelt and Boreal Conservation plan to the coal phase-out and toxic reduction strategy.”

What followed was spelled out in the Ontario Auditor General’s press release of December 2015 disclosing the cost of renewable contracts under the GEGEA was $37 billion to the end of 2014 and would cost another $133 billion up to the end of the contracts. To add fuel to the fire Ontario’s Liberal Party, under Kathleen Wynne, on January 1, 2017 launched their “cap & trade” program joining Quebec and BC.  The foregoing may have occurred because PM Justin Trudeau had announced in early October 2016, he would impose a price on carbon beginning in 2018 if any provinces didn’t have one.  At that time Gerald Butts was his Principal Secretary and his puppet master.  Again, as we in Ontario know, when the Ford government was elected, he cancelled Wynne’s “cap & trade” program! 

In early 2017 the Pan-Canadian Framework on Clean Growth and Climate Change was issued and recommended a carbon tax starting at $10/ton on January 1, 2018 increasing by $10 each year to a maximum of $50 per ton. The Framework only loosely focused on achieving “net-zero” targeting only “new buildings”.  Suddenly on December 11, 2020 with the country in a Covid-19 lockdown Trudeau and his new Environment Minister, Jonathon Wilkinson announced the carbon tax would be expanded to $170 ton to wean us all off of “fossil fuels”. The pretext was it was being done so Canada could meet its Paris Agreement targets.

The impact of raising the tax to that level was spelled out in a Fraser Institute report which noted: “In this study, we present an analysis using a large empirical model of the Canadian economy that indicates that the tax will have substantial negative impacts, including a 1.8% decline in Gross Domestic Product and the net loss of about 184,000 jobs, even after taking account of jobs created by new government spending and household rebates of the carbon charges. The drop in GDP works out to about $1,540 in current dollars per employed person.” The report forecasted the carbon tax of $170/ton would create additional debt of $22 billion and noted almost 50% of the job losses (78.000) would be in Ontario.

To top things off when Minister of Finance, Chrystia Freeland tabled her budget on April 19, 2021 it was full of spending plans aimed at supporting renewable energy and ending fossil fuel use. The budget contained $17 billion in spending plans and tax relief measures including $5 billion for the “Net Zero Accelerator” additional to the $3 billion previously committed! The $8 billion seems aimed at large emitting companies like those in the steel and cement business.  Another $4.4 billion was earmarked to “retrofit” residential buildings.  Also included were generous tax breaks (50% for 10 years) for companies manufacturing electric vehicles, (NB: They and the Ontario government handed Ford $590 million of our tax dollars a year ago for EV manufacturing at their Oakville plant), solar panels and presumably the world’s largest wind turbine blades at 107 metres long to a Quebec company who just received $25 million! 

The Trudeau led government also on June 29, 2021 announced they were speeding up the goal to have every light duty vehicle sold by 2035 to be “zero emissions” vehicles rather than 2040.  The Minister of Transport, Alghabra has already handed out $600 million of our tax dollars as rebates to those purchasing EV and now wants more!

It seems pretty clear the Strathmere Group, with the leadership of Gerald Butts in respect to this particular declaration, will brag they have been successful at achieving it. It was done with great pain to taxpayers, ratepayers, Canadian families and our business community with an emphasis on small and medium sized companies who due to the financial effects of escalating costs lost their competitiveness or moved to a more welcoming community.  

What they actually accomplished was neither the creation of “clean energy jobs” or increased “prosperity”!

Why should China’s Emissions GO UP while PM Trudeau Insists Canada’s will GO DOWN

An article in TIME dated August 21, 2021 stated “China is planning to build 43 new coal-fired power plants and 18 new blast furnaces — equivalent to adding about 1.5% to its current annual emissions“.  To put that in context, China’s emissions in 2020 are estimated at 14,400 million metric tons which is about triple what the US emits annually and 20 times what Canada emits. The 1.5% China’s emissions will increase; is 216 million metric tons and equivalent to about 29% of Canada’s 2005 emissions. Trudeau has committed to reduce Canada’s emissions by 40-45% by 2030; (299/336 million metric tons) or about 138% of what China’s emissions will increase from the point when those power plants and blast furnaces are operating and increase employment in China while the developed world continues its self-flagellation!

Even the foregoing commitment by Trudeau et al wasn’t enough in the eyes of some of the environmental groups such as Greenpeace (a Strathmere Group member) who suggested it should be at least a 60% reduction (448 million metric tons).  Greenpeace’s article goes on to state: “We must start with eliminating fossil fuel subsidies immediately” and criticizes Trudeau claiming; “After more than five years in office, the Trudeau government is still incapable of proposing a target as ambitious as that of Joe Biden who took office just three months ago.”  What Greenpeace fails to mention is Biden’s cancellation of the Keystone XL pipeline from its neighbour, Canada, and his ironic recent call-out to OPEC countries and its allies to pump out more oil to help reduce “prices to consumers”! 

The Trudeau Government has apparently listened to the cry from the eco-warriors such as Greenpeace however as one example is they recently banned future thermal coal mines because of their reputed contribution to climate change!

Apparently as U.S. President Biden noted, a shortage of fossil fuels causes inflation which is clearly what Canada is now experiencing.  Canada’s inflation rate hit 3.7% recently principally due to the myriad of taxes and regulations associated with our generation of fossil fuels. To top things off our GDP (gross domestic product) fell in the latest quarter by 1.1% despite most economists forecasting a growth of 2.5%, expecting a bounce back from the Covid-19 pandemic!         

It certainly appears Trudeau’s admiration of Communist China uttered by him in 2013 is still top of mind but working in reverse.  What he said at that time was: “There’s a level of admiration I actually have for China. Their basic dictatorship is actually allowing them to turn their economy around on a dime.

What he fails to see is his inane leadership punishes all Canadians while supporting China by increasing our inflation rates and reducing our GDP!

Our dime is now worth a nickel!