Who Pretends to Save us From Climate Change and the Pandemic?

An article in the Financial Post on December 30, 2021 signaled the bloom may be off the rose in respect to the market price of renewable energy firms. While the article points to the drop in value of stocks in the European travel and tourism sector in 2021, they note green renewable energy stocks fared much worse with values dropping despite the Stoxx market hovering at record highs.

Vestas Wind Systems, the world’s largest manufacturer of industrial wind turbines saw their stock price fall by a third and for Siemens Gamesa Renewable their stock price fell by 37 per cent. The world’s largest offshore wind farm company Orsted A/S saw their market price fall 33 per cent. Despite the drop in the price of their shares however, they still trade at a high P/E (price/earnings) ratio.

Price Earnings Ratio The P/E ratio is calculated by dividing the market value price per share by the company’s earnings per share. Earnings per share (EPS) is the amount of a company’s profit allocated to each outstanding share of a company’s common stock“                                                                                     

To put the foregoing in context Vestas P/E ratio is currently 32.9 meaning it would take that number of years before they generated the total EPS at their current market price. For Orsted A/S the P/E ratio is 44.2 and in Siemens case it doesn’t apply as they lost money in their latest reporting period.

Another “green” associated company whose stock market price has reached astronomical levels is Tesla the electric vehicle manufacturer. An article in the NY Times in late October stated the following:

Tesla is worth more than virtually every other major carmaker in the world combined. Analysts are squarely of two minds about its current level. In the bull camp: Daniel Ives of Wedbush Securities, who tweeted yesterday, “Tesla hitting $1 trillion is just for starters.” In the bear camp: Craig Irwin of Roth Capital Partners, who wrote in a client note last week that Tesla’s stock — which then traded at 173 times next year’s earnings — was “egregiously overvalued.“  Based on the foregoing “bear camp” prophecy it is easy to understand why Elon Musk reportedlyoffloaded US$16.4 billion worth of shares since early November.“ What is also surprising is that Tesla’s bond rating is still in the junk category at BB+!

With politicians from all of the developed world countries pushing to eliminate ICE (internal combustion engines) sales and endorsing EV (electric vehicle) sales however, they have directly impacted the price of Tesla’s shares. Their efforts to free the world of emissions from the transportation sector has made Musk the richest man in the world. Pretty sure he appreciates the work of the UNIPCC bureaucrats, eco-warriors and the “woke” politicians who helped him get to that pedestal!

What about the Covid-19 pandemic?

 The other issue that surfaced just two years ago in the form of a “pandemic” has also presumably made rich people richer.  As one example it’s worth noting Moderna’s stock price on March 1, 2020 was US$29.95 and now is US$234.70 for a gain of almost 700%.  Pfizer Inc’s stock was trading at US$30.97 per share back on March 1, 2020 as the pandemic lockdowns hit and its current price is US$56.74 share so has almost doubled in less than 2 years.

Both the Moderna and Pfizer Covid-19 vaccines obviously played a hand in their increasing stock market value particularly as they are fully endorsed by the CDC (Center for Disease Control) whose spokesperson seems to be Dr. Anthony Fauci. Fauci presses the need to be vaccinated and get booster shots.  He is the Chief Medical Advisor to the President so since the pandemic arrived, he has reached a position of power that is no doubt, the envy of every other bureaucrat in the USA and elsewhere.

Who owns Moderna, Pfizer and Tesla?

It is an interesting exercise to quickly look at some of the major shareholders of both Moderna, Pfizer and Tesla and it is fascinating to discover the names amongst the “top ten” shareholders. Those in the top 10 list of shareholders for Tesla, Moderna and Pfizer include BlackRock, SSgA (State Street Global Advisors) and Vanguard.  Fidelity Management are among the 10 largest shareholders of both Moderna and Tesla.

 At this point it is worth noting all four of the above “asset managers” are co-incidentally also members of the Net Zero Asset Managers Initiative which happens to be an outgrowth of GFANZ (Global Financial Alliance for Net Zero).  GFANZ is where Mark Carney, former Governor of the Bank of England is the Chair and Mark Bloomberg is Co-chair. Larry Fink, Chairman and CEO of BlackRock is also listed as a Principal of GFANZ!   

Surely the foregoing connections are all co-incidental and those entities, the rich and famous guiding them and represented under the GFANZ umbrella are simply out to save the world from “climate change” while protecting us “commoners” from the perils of both that happening and the pandemic that arrived two years ago!

Someone is making money from both of the concepts of “climate change” (formerly referred to as “global warming”) and the Covid-19 pandemic and based on the above cursory review it would appear to be many of those amongst the elites and super rich.

Perhaps some of the less naïve politicians around the world are also benefitting too but that would require some serious investigation into the possible “conflict of interest” issues they are supposed to abstain from once they are elected!

Wow, Quite the Party at Glasgow with 39,509 registered for COP 26

Recently, a friend and ardent advocate for the truth about “climate change” sent me the link to the Provisional list of registered participants (PLOP) to the COP26 festivities just ended in Glasgow. While most of the Provincial Governments sent participants to COP26, Quebec stands out with over 20 attendees whereas Ontario sent only 4. The provincial number of attendees however pales compared to those attending from the Federal Liberal government which includes Trudeau’s Lead Speechwriter as well as his Official Photographer! 

It is worth noting from the below chart (posted on the 1616 page PDF file of attendees at COP26) the number of (NGO) “Non-governmental organizations” (1,823) who attended the conference with 14,033 participants. Many of those NGO are “charities”.   Now, try to imagine the millions of dollars they spent and why this should be considered a charitable activity?

One assumes the “charitable attendees” were not included in media reports stating: “Canada sent 277 delegates and 17 press aides along for the ride. That’s a lot of emissions – and a lot of taxpayer dollars“.  Despite the foregoing, in a search of PLOP many Canadian registered eco-warrior charities did send lots of delegates. The PLOP listing attendees frequently fails to indicate the country associated with individual names but in doing the “ctrl/f” search a number of Canadian charities, etc. are identifiable! 

To wit:

Those eco-charities with a few identifiable attendees from Canada included: Environmental Defence, WWF, Sierra Club, David Suzuki Foundation and a new charity established by none other than Bruce Lourie, called; “The Transition Accelerator” (TA) where he is Chairman of the Board! The TA’s aim is, “to support Canada’s transition to a net zero future while solving societal challenges“.  Based on their CRA financial filings they have not had to issue a “tax receipt” since their formation as their revenue ($867K) came from other “registered charities” such as the “Ivey Foundation” where Lourie sits as President.

The Ivey Foundation has also handed out grants to Environmental Defence where he spent time as Board Chair and built his relationship with Rick Smith when they coauthored a book. Smith was also an attendee at COP26 but more on him below! 

Another attendee of COP26 was IISD (International Institute of Sustainable Development), a Winnipeg based charity which also received funding from the Ivey Foundation.  The big money for IISD however comes from the UN, the Canadian Federal government and some from the provinces or province of Manitoba.  Total tax receipted funds were a miserly $53,617. (0.2% of gross revenue or enough to cover about 20% of their highest paid employee’s income) out of total revenue of $25.6 million based on their most recent filing with the CRA. IISD appear to have sent at least 12 people to COP26 and will, presumably, claim all their expenses as a “charitable activity”!

The other Canadian entity I was able to identify is a “not-for-profit” named Climate Action Network (CAN-Rac)* who sent at least 30 individuals to COP26. CAN-Rac are a coalition of over 100 organizations which includes Environmental Defence, Sierra Club and the David Suzuki Foundation.  CAN-Rac has been known to spin untruths as pointed out in an article yours truly penned over a year ago.

Now, let’s return to Rick Smith who was an attendee of COP26 as head honcho of the Canadian Institute for Climate Choices (CICC), along with one other CICC officer.  CICC is the institution created by Catherine McKenna when she held the Ministerial post of Environment and Climate Change and handed out $20 million of our tax dollars to create it.  Presumably Smith is not only happy with his presidential position but also pleased to have reconnected with Bruce Lourie who is one of the many members of the Board of Directors.

 As is obvious, Canada once again had the highest number of attendees at COP26 with 277 attendees! If one does the simple math of dividing the Total Party attendees by the number of countries the average is approximately 110 per country.  Canadian attendees were two- and one-half times that average which suggests the Canadian contingent emitted 250% more CO2 per attendee than any other country in attendance!.

Sure, doesn’t appear our Trudeau led Government are practicing what they preach to us minions!

It appears to be an unmitigated “PLOP”!

*CAN-Rac also had a former Board member in attendance in the form of the Minister of the Environment and Climate Change, Steven Guilbeault.

The Canadian Institute of Climate Choices want us to Sink not Swim

Surely it was purely coincidental the CICC (Canadian Institute of Climate Choices) released their report titled: “Global climate policy acceleration means sink-or-swim decade for Canada’s economy” on the same, pre-announced day, Commissioner Steve Allan’s Alberta Inquiry into anti-Alberta energy campaigns was released!  Or was it?

Both of the foregoing reports were released on October 21, 2021 and while the Allan report was about 700 pages the CICC report was a meagre 122 pages.  The latter however, was full of disaster warnings about “climate change” and suggested “fossil fuels” were being replaced with wind and solar.  The CICC report went so far as to compliment China (the world’s largest emitter of CO 2) for being “an early leader in electric vehicles and solar technology”. The Allan Report (657 pages) was oblique in accusing Canadian environmental groups of using foreign funding to curtail and end fossil fuel generation. The foregoing  was concluded despite an independent report from Deloitte’s noting; “Total foreign funding, therefore, of “Canadian-based environmental initiatives” was $1.28 billion for the period 2003-2019.”  Apparently “climate change” activism is not a sin or a crime despite its probable outcome to create energy poverty.

Looking specifically at the CICC, “sink or swim” report one should note it is truly meant to scare the reader by suggesting if Canada doesn’t move to “net-zero” emissions we are in big trouble.  Specifically, their report states: “Around 2,000 workers have been affected by coal power closures, whereas over 880,000 people work in the transition-vulnerable sectors identified in Figure 18.” Figure 18 (page 59), discloses those workers who are reputedly at risk of losing their employment are in a variety of jobs including those in many of the areas at which Canada excels such as: oil and gas extraction, emissions intensive manufacturing, mining and quarrying, transportation equipment manufacturing and support for mining and oil and gas extraction! Needless to say, the forecast of those 880,000 job losses caught the media’s attention.

The CICC report in “picture terms” lays out the potential impacts in a chart (Figure 1) on page 6 by using a forecast from Central Bankslabelled as,“NGFS” (Network for Greening the Financial System).  The NGFS was launched by 8 founding central banks, under the leadership of Banque de France‘s governor François Villeroy de Galhau, the Dutch Central Bank‘s Frank Elderson and the Bank of England‘s former governor Mark Carney.” It should come as no surprise Mark Carney was actively involved in its formation. Their membership now contains 95 central banks The data, needless to say, is scary as without adoption of “net-zero” by 2050, in non-adapting countries, GDP is projected to fall by over 10% from current levels. CICC commissioned Planetrics (a Mckinsey & Company subsidiary), an international climate-risk analytics company, to stress test Canadian publicly traded companies and companies with Canadian operations. Apparently CICC with close to 100 reputed taxpayer supported “experts” was unable to perform that exercise.

At this point it is important to note the CICC was a creation of the now retired Catherine McKenna, former Federal Minister of the Environment and Climate Change. The CICC was created with $20 million taxpayer dollars and loaded its staff, Board of Directors, expert panels and advisory council with a myriad of eco-warriors mainly dependent on government largesse. Those eco-warriors seem intent on decimating Canada’s economic wellbeing via their actions in support of our current government and ending our dependence on fossil fuels.

Needless to say, we should believe the release of the CICC report to coincide with the Allan report was meant to offset its release.  The damning information in the Allan report only confirmed how Canadian environmental groups accepted foreign contributions to push the narrative—Canadian production of coal, oil and gas must cease!  One need look no further, then note, the current President of CICC is Rick Smith who spent 9 years at Environmental Defence pushing the “climate change” agenda. Failing that belief, perhaps the word came down from Jonathan Wilkinson, Minister of the Environment and Climate Change or his Chief of Staff, Marlo Raynolds whose past relationship with Rick Smith demonstrates serious collaboration between Pembina and Environmental Defence via the Strathmere Group.  

Both Raynolds and Smith signed the Strathmere Goup’s “Declarations” jointly and one of those clearly was:

Declare a moratorium on expansion of tar sands development and halt further approval of infrastructure that would lock us into using dirty liquid fuels from sources such as tar sands, oil shale and liquid coal.”

We should be confident the release of the CICC’s “sink or swim” report on the same day as the Steven Allan Inquiry was planned to ensure the main stream media focused on the forecasted loss of those 880,000 jobs that will occur should Canada not commit to “net-zero”!

Collaboration between CICC and those in political power clearly reflects their intentions to harm Canada’s economy!

Jack Gibbons, Chair & CEO of OCAARI, a Registered Charity, Advocates to Create More Energy Poverty

United Way on December 16, 2020, posted an article about energy poverty and what causes it.  The article stated: “Canada’s most populace province, Ontario, has the highest numbers of households struggling with energy poverty (1.1 M households).”

To put some context on the foregoing; those 1.1 million households would represent 22.9% of all residential electricity customers and 29.4% of all natural gas residential customers according to the OEB’s (Ontario Energy Board) 2020 yearbook of each customer group.

For some unknown reason the OCAA (Ontario Clean Air Alliance) who have three (3) employees, and five (5) directors one of whom is Jack Gibbons in each category, have been making presentations to numerous and gullible municipal politicians across the province. Those presentations were meant to convince the municipalities they should push the Provincial Government to close all of Ontario’s gas plants. At last count 32 municipalities have bought into the OCAA’s diatribe. The IESO reported closing those gas plants would drive up average residential electricity bills by $1,200 per annum and also cause blackouts.

It is interesting to note; Gibbons, back in May 2006, was a big fan of gas plants speaking out in support of the Portlands Energy Centre (PEC) a proposed 550 MW gas plant and was quoted as follows:  “Some people are opposed to a power plant (of any kind) in Toronto — period,” said Jack Gibbons, chair of the Ontario Clean Air Alliance. However, “some people are not fully aware how clean the Portlands Energy Centre will be.”

Should one go seeking for Gibbons biography you find little about him but what yours truly found was a list of speaker biographies in a website called “cleanairhamilton.ca” and what it stated was: “The Ontario Clean Air Alliance is a coalition of 80 organizations including the City of Hamilton, the Regions of Peel and Waterloo and the City of Toronto. Our member organizations represent over 6 million Ontarians.” These days the OCAA don’t make the foregoing claim but that doesn’t seem to have diminished Gibbon’s ability to dazzle the elected politicians in those municipalities.

The OCAA and the registered charity OCAA Research Institute (OCAARI) report they generated gross revenue (combined) of only $92,133.89 for the year ended September 30, 2020.  The OCAARI filing with the CRA indicates, for 2020, their gross revenue was $92,136.00.  Not sure where the difference of $2.11 went but perhaps Gibbons purchased a coffee! Curiosity piqued, a look back at the oldest (posted) CRA results for the year ended September 30, 2016 indicates total revenue of $63,042.00. That year the OCAARI reported charitable expenditures of $107,245 whereas in the 2020 report to the CRA those charitable expenditures were shown as $79,690.

 Recognizing the limited revenue being generated by this seemingly powerful organization, I reached out to Gibbons with the following question related to their 2020 CRA filing which indicated $6,645 as the amount spent on “management and administration”: 

I was looking at the OCAA’s September 30, 2020 filing with the CRA and found the following info kind of shocking so was wondering how you and Angela manage to survive on so little compensation?

 Can you explain please as you can’t possibly survive on so little, particularly all three of you listed on your website? Curious if you are being paid by others like Hydro Quebec or TAF or perhaps the IVEY Foundation?  Wondering and would sure appreciate an explanation.” 

What I got back in response was:

Hi Parker, We have two organizations: a) Ontario Clean Air Alliance Research Inc (OCAARI) which is a registered charity; and b) Ontario Clean Air Alliance (OCAA) which is a non-profit.

As of September 30, 2021, OCAARI has never had any employees.  But on October 1, 2021 Angela became an employee of OCAARI.

OCAA has had employees in the past. I have been a volunteer for many years. We have not received funding from TAF or Ivey for many years. We have never received funding from Hydro Quebec.

Jack

As noted above the posting on their website indicates “combined revenue” for both organizations for their 2020 yearend, was $92,133.89 and charitable donations were $79,690 which doesn’t leave much available to pay his two staff members particularly if they continue to spend money on “political activities”.  

For the 2020 year they reported expenses of $43,698 on political activities meaning they blew past their gross revenues for the year.

From all appearances the CRA with in excess of 45,000 employees as of March 30, 2020 has no problems with the OCAARI operating as a charity and can presumably find nothing wrong with their activities or filings with them.

The above demonstrates a sad state of affairs for those of us who pay taxes to supplement the activities of this particular organization (and presumably many others) whose aim under their CEO and Chair, Jack Gibbons, seems dedicated to driving more households in Ontario into energy poverty.

We need the bureaucrats to do their job!

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!

Strathmere Group Declarations # 5 and # 6

Declaration target # 5 

Declare a moratorium on industrial fishing and development in the Arctic Ocean until there is a comprehensive scientific analysis incorporating the newest information on climate change impacts and until there is a system for integrated, precautionary ecosystem-based management of industrial activities.

AND

Declaration target # 6

Work cooperatively with all Arctic countries and Peoples to curb all sources of pollution of the Arctic, including from land-based sources

Both of those “Declarations” committed to by the “Strathmere Group” and their 21 US cousins back in June 2009 were focused on the Arctic; ocean and  lands so, we will look at them together.

Back in June 2019 when Jonathon Wilkinson was Minister of Fisheries, Oceans and the Canadian Coast Guard he tabled Bill C-68 declared as the “modernized Fisheries Act and it passed Parliament June 20, 2019.  Needless to say, he was pleased and made the statement: “Our government is working hard to protect fish and fish habitat from coast-to-coast-to-coast, and the modernized Fisheries Act will do just that.” Wilkinson was also quoted stating: “It raises the bar in making sure that decision-making is based on science and evidence.”

Co-incidentally Bill C-48 sponsored by Marc Garneau, MP for Westmount Quebec and, Minister of Transport, also received 3rd reading the following day on June 21, 2019. The latter Bill was an Act regulating vessels transporting crude oil from ports or marine installations located along British Columbia’s north coast. The Bill killed any hopes of either the Northern Gateway Pipeline or the “Eagle Spirit Energy Corridor, which would run from the oil sands across Indigenous lands to BC’s northern coast, along with Indigenous peoples’ hopes for a better economic future” from proceeding!

It seems odd while these two Liberal Ministers are so concerned about the fossil fuel sector and its potential damage to the eco-system, they basically ignored the continued dumping of raw sewage by cities along the St. Lawrence River like LongueuilMontreal and Quebec City!  Collectively those three cities reported dumping about 8 billion litres of raw sewage into the St. Lawrence River! 

Apparently marine life in the St. Lawrence River is not important but “potential” oil spills off of BC’s north coast will protect marine life as will no commercial fishing in part of the Arctic Ocean!

Many of us recall the happenstance related to the Newfoundland cod stock collapse and it is interesting to know one of the causes was “foreign overfishing”!  An extensive report from 2002 noted: “Canadian media and government public relations people often cite foreign overfishing as the primary cause of the “fishing out” of the north Atlantic cod stocks. Many nations took fish off the coast of Newfoundland, including Spain, Portugal, other countries of the European Community (EC), the former Soviet Union, Japan, and Korea.”  The report also noted: “There can be little doubt that foreign overfishing was a contributing factor in the cod stock collapse, and that the capitalist dynamics that were at work in Canada were all too similar for the foreign vessels and companies. But all of the blame cannot be put there, no matter how easy it is to do.”  Bad management by the Ministry is also cited as a cause in the report reflecting the moratorium placed on them on July 2, 1992 by the Honourable John Crosbie that has never been lifted since being imposed!

From all appearances commercial fishing to any great extent has never occurred in the Arctic Ocean and Bill C-68 will presumably preserve that observation for Canada’s commercial fishing fleet.

Along with the passing of Bill C-68 back on October 3, 2018 a legally binding international agreement was signed by Canada, Norway, Russia, the United States, China, Iceland, Japan, Korea, the European Union and Denmark.  The agreement will reputedly protect the Central Arctic Ocean from “unregulated fishing”. The agreement was reported as becoming law on June 18, 2021 so that particular section of the Arctic Ocean (three million square kilometres) will presumably be regulated.

Should one wonder why China was included it’s not because they fish, commercially, in the Arctic Ocean but perhaps because according to an article penned in August 2020 noted: “Estimates of the total size of China’s global fishing fleet vary widely. By some calculations, China has anywhere from 200,000 to 800,000 fishing boats, accounting for nearly half of the world’s fishing activity.“  The article went on to state: “China is not only the world’s biggest seafood exporter, the country’s population also accounts for more than a third of all fish consumption worldwide.

One should wonder, why would China agree to sign the agreement? 

In response to the foregoing question, one should note Canada has been extremely slow in building infrastructure to support our northern territories so without roads, railways or ports any developments of new mines, etc. are extremely costly so little development has taken place.  Suddenly back on August 13, 2019 Marc Garneau, Minister of Transport announced a project: “$21.5 million to complete preparatory work necessary for the first phase of construction of the Grays Bay Road and Port Project. The proposed 230 kilometre all-season road would be the first road to connect Nunavut to the rest of Canada.“  That particular project, co-incidentally, was seen as the means to cash in on opening of the Arctic which was something China had attempted to accomplish back in 2011 via a Chinese company (MMG Limited) whose principal shareholder was the Chinese government.  At that time MMG backed away as the cost of the roads and port made it too costly! As noted in an article in the Walrus on January 4, 2021, “The vast mineral deposits of zinc and copper near Izok Lake, in the Northwest Territories, lay glittering but ultimately untouchable“ until Garneau’s pledge. Shortly after than pledge by Garneau, Mr. G. Gao, CEO of MMG in a press release said;  “On behalf of MMG, I would like to extend my sincere thanks to the Canadian government for their support and funding,”.

The Walrus article goes on to note “CHINA’S GROWING INTEREST in the Canadian Arctic, one of the least defended regions on earth, has been a calculated move. In 2013, de­spite not being one of the eight Arctic nations, China gained official observer status at the Arctic Council, an intergov­ernmental forum, and later declared it­self a “near­-Arctic state”—a phrase that seems to ignore the 5,000 kilometres between its northern­most point and the Arc­tic Circle.

It seems ironic Garneau’s Bill C-48 designed to halt Canadian fossil fuel exports was passed just two months earlier before he turned around and catered to Chinese interests. 

It seems apparent the Strathmere Group partially attained their aim for Declaration # 5 but not in its entirety so it is only a “passing grade”.

Based on the foregoing happenings (so well reported by the Walrus), the current Liberal government, by catering to the whims of the CCP looks likely to allow the creation of mining projects for those minerals desired by China. That being the case one should expect, at the least, a modicum of pollution to occur in the Arctic meaning Declaration # 6 will be destined to fall into the Strathmere Groups first fail category.

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!

Another Peak Demand Hour and Wind is Missing

As we have come to expect in Ontario, “peak demand” generally occurs on hot summer days and the hour ending at hour 17 on August 20th was the most recent occurrence coming in at # 8 of “peak demand hours” so far this year.

Demand at the above hour reached 21,569 MW and the bulk of that needed demand was supplied by Nuclear, Hydro and Natural Gas generators. At that hour gas plants supplied 25.9% (5,587 MW) of demand while wind generators managed to produce only 0.45% (98 MW) of demand and the bulk (53 MW) of that came from the Greenwich Renewable Energy Project a 99 MW station located Northeast of Thunder Bay so none of their generation was useful in the well populated areas of the province. The other 40 plus wind turbine generating stations scattered throughout the province produced only 45 MW which probably didn’t even cover their consumption during that hour.

The foregoing fact is something you will not hear from the OCAA (Ontario Clean Air Alliance) whose push is to close out gas plants. The OCAA’s push to close gas plants has reputedly been endorsed by 30 Ontario Municipalities representing over 50% of the province’s population. 

In an effort to push the alarm button further the OCAA has called for all their followers to: “Please contact Ontario’s new Minister of Energy, Todd Smith, and ask him to direct the IESO to develop and implement a plan to achieve a complete phase-out of our gas-fired power plants by 2030.”

What Jack Gibbons the Chair and CEO of OCAA doesn’t seem to understand is that the events of hour 17 are frequent during the very hot days of summer and the very cold days during the winter.  If Minister of Energy, Todd Smith, followed through with the OCAA’s recommendations Ontario’s ratepayers would be faced with numerous brownouts and even full blackouts during the dead of winter and the heat of summer.

I would suggest the ratepayers of Ontario should write a letter to the councils of the 30 municipalities informing them of the above facts and recommending they rescind their endorsement to shut down Ontario’s gas plants by 2030 as proposed by the OCAA.

You can find the full list of the municipalities that have endorsed the closure by simply clicking on the following.

Ontario Municipalities that have endorsed gas power phase-out