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!  

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

COP-26 Out Could be a Cop-Out                                                                                                                               

These past few days Boris Johnson, the UK’s PM and host of the upcoming COP-26 Climate Conference must be wringing his hands as the COP-26 Climate Conference being held in Glasgow from October 31st until November 12, 2021 is showing signs of major problems. 

On his home turf, the UK recently had to fire up a coal plant to avoid a blackout as their 24,100 MW capacity of onshore and offshore IWT (industrial wind turbines) went on holidays while natural gas prices soared.  The BBC article noted: “Over the coming months, those sky-high gas prices are expected to remain volatile. So, as well as forcing National Grid to make some tough choices about where we get our electricity from, it could also have a big knock-on on what we pay.”

As if to top things off for Johnson, new regulations associated with the electricity system and coming into force next year were recently announced and they state; “Electric car charging points in people’s homes will be preset to switch off for nine hours each weekday at times of peak demand because ministers fear blackouts on the National Grid. Under regulations that will come into force in May, new chargers in the home and workplace will be automatically set not to function from 8am to 11am and 4pm to 10pm.”

To put the foregoing in context the number of EV registered in the UK are approximately 300,000 out of 38 million vehicles which equates to less than 1%!  Prime Minister Johnson must surely have his fingers crossed that some of those recent events will not impact COP-26 and bring to mind, the realization reliable electricity cannot be supplied by those intermittent sources such as wind and solar usually referenced as “renewable” rather than “unreliable”!

The foregoing may be a strong signal to Prime Minister Johnson that his plan to end sales of all non-electric cars by 2035 is a non-starter unless they will forego being charged except perhaps once a year!

On top of the UK’s problems, the Spanish government has stepped into the fray as they recently moved to halt the record rise in power prices by; both reducing their taxes on energy and by curtailing what they referenced as “exceptional benefits”.  The article outlining the Spanish Government’s actions went on to state; “The government says the hikes in electricity bills are driven by spiraling prices of so-called carbon certificates, which give companies the right to release carbon dioxide; gas imports that Spain needs to complete its energy mix; and surging power demand in recent months.”

The amusing feature about the Spanish government’s actions is that back in December of 2020 “Renewables Now” were bragging Spain generated 43.6% of its power from renewables and had closed 3,486 MW of polluting power plants which were mainly coal-burning units during the year.

As is to make the COP-26 Conference outcome even more worrisome for PM Johnson, China advised Britain “it will not yield to international pressure for bigger improvements to its climate change commitments at the Cop26 conference in Glasgow.”  They will not be bullied into going green despite the visit from Alok Sharma, the UK senior climate change representative, who visited Beijing for pre-summit talks hoping to persuade China to “enhance” its carbon emissions reduction targets. It is worth noting China’s emissions stand at 28% of all global emissions and continue to climb. Without an “enhanced” commitment from them one should suspect COP-26 will fail to provide Johnson with the ability to claim it was a success!

Canada’s commitments at the Conference are presently unknown until the results of our election come to light.  What is known however, is one Canadian is playing a prominent role at COP-26 and that individual is Mark Carney whom I expounded on in prior articles.

PM Johnson back in January 2020 appointed Mark Carney (former Governor of the Bank of Canada and former Bank of England Governor) as his “advisor” for the conference. In addition, Carney is the UN Special Envoy for Climate Action and Finance. I personally suspect Carney is not at all concerned about the outcome of the COP-26 Conference despite his lofty positions for the UN and PM Johnson.

Should COP-26 turn out to be a failure and Canadian voters couple that with the boot for Justin Trudeau and the Liberal Party we should expect Carney’s fallback position will be to run for leadership of the Federal Liberal Party. 

Stay tuned!

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 Part 5 (A) the Final Chapter and Declarations 1,2,3,4,5 and 6

Collaboration Amongst the US and Canadian Eco-Warrior Charities

The time has come to have a hard look at the joint “Declaration” and the seven (7) objectives of the 12 Canadian and 21 U.S. “Environmental and Conservation Leadersto determine their success in meeting their objectives when they signed it back on June 2, 2009.  We will examine each of the goals in order of their appearance in the original letter.   Those will be done one at a time and added to this article every few days in order to keep each review down to a two- or three-minute read.

Before reviewing the goals, here is a quick look at the lead-in of the letter.

Eco-Warriors pontificating on North American Ingenuity:

North American ingenuity can protect our deteriorating atmosphere, grow manufacturing jobs in harnessing wind and solar energy, improve our security by reducing our dependence on oil, minimize climate change’s drastic impact on human and natural communities, and protect our fragile natural areas such as the Arctic and the Boreal Forest.”

Ontarians were told by Premier McGuinty and his Energy Minister, the GEA (Green Energy Act) would focus on “harnessing wind and solar energy” and would create 50,000 jobs while only increasing electricity rates 1%.  Coincidently the GEA was introduced in the Legislature February 23, 2009 and received third reading later that year.  We know how that turned out as electricity rates climbed by over 100%!  As the Fraser Institute pointed out: “Alas, those benefits also proved illusory: the government now admits the 50,000 jobs claim was not based on any formal analysis; that most of these green jobs would be temporary, and the estimate didn’t account for the jobs that would be killed by escalating electricity costs under the GEA.”

Now on the issue of reducing our dependence on oil it is worth noting that since the signing of the “Declaration”, Canadian domestic sale of petroleum was 1.66 million barrels per day in 2009 and in 2019 was 1.8 million barrels per day for an increase of 8.4%. 

The two objectives to “grow manufacturing jobs” and “reducing our dependence on oil” fell flat so how did they do on their 7 objectives as posted in: Strathmere Group Part 5 of this series?

Declaration target # 1:

Show bold leadership on the world stage, especially leading up to the Copenhagen climate meeting, and within each country through addressing climate change head-on.

Well recent history disclosed the Copenhagen Summit failed to produce a binding agreement when it occurred in 2009. The conference produced the Copenhagen Accord agreed to by a few of the big players; China, the US, India, Brazil and South Africa but the accord was not binding, didn’t set emissions reduction targets so in effect was a failure although the 21 U.S. ENGO no doubt saw it as a win. 

Now if one fast forwards to the Paris Accord occurring shortly after the Trudeau led Liberal Party received their majority in Parliament in late 2015, Canada sent 383 people to the conference.  That was more than the U.S., Australia and the UK together sent! PM Trudeau was amongst the 383 and at the Accord declared: “Canada is back, my good friends”. One should suspect some of those travelling to Paris on the taxpayer’s dime (Gerald Butts was one) were associated with the 12 Canadian ENGO who signed the declaration. No doubt they had spent time since 2009 lobbying various government bureaucrats and politicians since the Harper led government had backed off of any commitments at the Copenhagen Summit. 

Needless to say, the 12 ENGO achieved their first “Declaration” albeit, later than planned!

Declaration target # 2:

Incorporate climate science into policy and permitting decisions affecting natural resource management in order to best ensure that wildlife and natural systems can survive in a warming world.

It is fundamental to ENGO they allude to; a desire to, “Incorporate climate science” in the never-ending diatribe they push in the “reports” and “studies” they churn out to spur politicians to adopt their beliefs. Examining the authors of the reports to seek their credentials on “climate science” is often a futile time-consumer and most reports fail to actually identify “authors”. Two reports caught my eye! The first is titled “Green Stimulus” by unknown authors at the Pembina Institute (founder of the Strathmere Group) dated March 30, 2020 at the onset of the Covid-19 pandemic. It pushes a “Green Transformation Program” to “decarbonize” the oil and gas sector and hand out money to retrain the workers. The report pushes “renewables” as the answer to our electricity needs and suggests we improve our transmission system to the U.S. as they will reputedly want to buy that renewable energy.  Had the author(s) bothered to research Ontario they would have discovered the generation of electricity from renewables is most often surplus to demand and exported at a cost to Ontarians of almost $2 billion annually. 

The second report was prepared by six ENGO and five are Strathmere Group members including: Ecojustice, CAN/RAC, Equiterre, Environmental Defence and Pembina.  It was issued May 2020 and titled, “A New Canadian Climate Accountability Act”.  As its title implies; a new “Act” should be created to deal with GHG ie; emissions!  The bulk of the contributors to the “report” were “expert” lawyers and nowhere in the report are hints of the costs. They want the legislation to set targets for 2030 and 2050 with five-year reviews aligned with the Paris Accord.  The report mentions “carbon budget” 200 times but provides no estimate of costs.  The only mention of “jobs” in the report suggests they will be created by “adaptation”!  

The proposed “Act” has happened with the introduction and passage of the “Canadian Net-Zero Emissions Accountability Act”  in the House of Commons by Johnathon Wilkinson, Minister of the Environment and Climate Change.  From all appearances the Act presented is almost a carbon copy (pun intended) of the one suggested by those ENGO in the aforementioned “report”! Interestingly a quote from the report stated: “The alternate path — which limits the global average temperature rise to “well below 2°C” – would transform the health of a child born today for the better, all the way through its life.” Wilkinson’s related quote on his ACT starts with how “science” says we must achieve “net-zero emissions” and goes on to say: “This achievement is necessary to ensure our kids and grandkids can live in a world with cleaner air and water and to ensure our businesses maintain and gain a competitive edge by producing the low-carbon products the world wants to buy, well into the future.”

Based on the foregoing it is apparent the Strathmere Group have been successful in the creation of the proposed Act.  The Trudeau governments time in office running the country also saw them pass other acts such as Bill C-69 and Bill C-48.  Those Acts are also aimed at containing and reducing Canada’s oil and gas sector along with the extraction of minerals in mining operations.

Once again, we should recognize the 12 Strathmere Group ENGO delivered on their second declaration!

Declaration target # 3:

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.

As pointed out in “Declaration target # 2”, the Liberal government under Justin Trudeau didn’t pass a full moratorium on expansion of the oil sands (a deviation of “tar” per the Strathmere Group) development, however, what the Liberal Party did was pass two Acts to create a tsunami of difficulties for any company attempting an expansion!  The “Acts” and their outcomes are defined as follows:

Bill C-69 is an Act: “to enact the Impact Assessment Act and the Canadian Energy Regulator Act, to amend the Navigation Protection Act and to make consequential amendments to other Acts.”

Critics of Bill C-69 argued; it would create more red tape in efforts to bring Canadian oil to market and Alberta’s Premier dubbed it the “No More Pipelines Bill.” Several Conservative premiers, provincial energy ministers, senators and MPs warned the legislation would repel energy investors and rob oil-rich regions like Alberta of the ability to benefit from their resources. The results emanating from Bill C-69 as noted by EnergyNow, had the effect of seeing capital expenditures in the oil and gas extraction sector in Canada fall from $76.1 billion in 2014 to $33.3 billion (a drop of 56.2%) in 2019.  StatCan also reported in December 2020 noting: “Following a 52% drop in the second quarter, capital expenditures in the oil and gas extraction industries increased 11% to $4.5 billion in the third quarter. Year-to-date spending totaled $17.1 billion, a 34% decline over the first three quarters of 2019.” Bill C-69 was passed in June 2019. “

The second Act, Bill C-48 received Royal Assent June 21, 2019 and is defined as; “An Act respecting the regulation of vessels that transport crude oil or persistent oil to or from ports or marine installations located along British Columbia’s north coast”. 

The Bill C-48 Act appears responsible for a couple of major events including Kinder Morgan’s abrupt exit from Canada at the taxpayer’s expense as they faced many illegal blockades (seemingly allowed by the RCMP, who are federally controlled) and were forced to cease construction of the Trans Mountain pipeline on numerous occasions. The Trudeau Liberals wound up purchasing Kinder Morgan’s Canadian assets for $4.5 billion.  The cost to complete the pipeline expansion has (as of February 2020) increased from $7.4 billion to $12.6 billion meaning taxpayers are stuck with added taxpayer debt of $17.1 billion.

The second event that occurred was related to Enbridge’s plan for the Northern Gateway pipeline which the Trudeau led Liberals halted, prior to passage of Bill C-48!  The Northern Gateway pipeline was on the radar screen of ENGO as they pushed the plan to ban tanker traffic on the northwest Pacific coast. The mandate letter dated November 12, 2015 from Trudeau to the Minister of Transport stated: “Formalize a moratorium on crude oil tanker traffic on British Columbia’s North Coast, working in collaboration with the Minister of Fisheries, Oceans and the Canadian Coast Guard, the Minister of Natural Resources and the Minister of Environment and Climate Change to develop an approach.” 

Needless to say, the WWF, a Strathmere Group member where Gerald Butts previously resided as President and CEO were delighted!  David Miller (former Mayor of Toronto), who succeeded Butts as President, published an article on November 23, 2015 shouting out: “The moratorium is something to celebrate, and puts a major hurdle in front of Enbridge’s plans for the region.”  Miller also went on to state: “It’s now crucial that we push towards the next stage: a legislated ban on all oil tanker traffic in the region.

Bill C-48 followed and even though the Senate’s transport committee voted in May 2019 to recommend the bill not move forward and presented a report to the Senate as a whole that asked them to endorse the recommendation that the bill be defeated”, it passed.

One should surmise the passage of Bill C-69 and Bill C-48 were successful at the goal of halting any significant expansion of the “tar sands” so, the Strathmere Group once again can brag about their success in meeting their third “declaration”!

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 viewed as 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”!

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.

NB:  The final Declaration # 7 and the associated appraisal of it will be posted in the next few days.

Friends of Science posts Video of my Part 1 of the Mark Carney(val) Series

Michelle Sterling of Friends of Science took a liking to my first article about Mark Carney and his unbridled interest in altering common economic theory for climate change adaptation.  Michelle liked it so much she posted a YouTube video on their site.  She has done a great job at conveying the messages I was trying hard to put down in written form which made the article somewhat lengthy.

You can tune into the video and watch it here:

Visiting FOS website can also be an interesting exercise with lots of great articles and observations including lots of videos disputing the eco-warrior claims and their site is here:

https://friendsofscience.org/

Mark Carney bows out of possible fall election

I was on the Marc Patrone show yesterday (July 21, 2021) on Sauga 960 AM and our chat was all to do with Mark Carney and his decision to bow out of running in the next Federal election this fall for the Liberal Party of Canada due to his commitment to stop “climate change” from happening!

You can listen to our conversation on NEWSTALK CANADA here if you are a subscriber:

https://newstalkcanada.com/?page_id=2527

OR  
You can listen to it on the 960 AM podcast for July 21st where our conversation starts at 25:50 and ends at 43:50:

Podcasts

The Mark Carney[val] is in Full Bloom[berg] Part 2

Part 1 of this series briefly reviewed Mark Carney and some of the many creations he played a hand in developing or where he takes part in; including biased organizations such as the WEF (World Economic Forum) where he is a trustee or as the UN Special Envoy on Climate Action and Finance. The institutions and his creations are focused on altering the climate by using financial modeling.  The modeling seeks to either get the world to embrace socialism, globalism or perhaps communism and is cited as “The Great Reset’.  The WEF’s focus on “The Great Reset” tells us by 2030 “you’ll own nothing and you’ll be happy” and puts the Carney push in perspective.  The WEF just doesn’t tell us who will own everything?

The goal of The Great Reset and Carney’s role in it seems focused on using his credentials as former Governor of the Bank of Canada and the Bank of England to convince the global financial community (central banks) to adapt the concept which will make the super-rich richer and the middle class poorer!

Just a few days ago the Washington Post carried an article titled; “Why Big Central Banks Are Becoming Climate Warriors” which carried the following comments related to Carney: “In 2015, former Bank of England governor Mark Carney raised an alarm about the “tragedy” of climate change and warned specifically about “re-pricing” events. That includes physical damage that destroys the value of assets (such as waterfront properties), imposes new liabilities on companies (as shown by California utility giant PG&E Corp.’s wildfire-driven bankruptcy) or sharply raises insurance prices. Another risk is a sudden slump in the value of certain assets because of drastic government action to combat climate change, like the introduction of a steep carbon tax or regulations that keep fossil fuels in the ground. “The speed at which such re-pricing occurs is uncertain and could be decisive for financial stability,” Carney said.” The Post didn’t fact check Carney’s claims as the article was a product of Bloomberg L.P. which is part of Carney’s friend/associate, Michael Bloomberg’s empire.

Is it any wonder why a September 2020 Gallop poll showed 27% have “not very much” trust and 33% “none at all” in the US mass media!

The focus of the super-rich is on “climate change” and a reduction of those nasty CO 2 emissions which keep the world functioning by generating food for us humans and all plant and animal life.  Here in Canada rumours have circulated that Carney would run for the Liberal Party in the next election. That rumour has been dispelled as he recently tweeted he wouldn’t run in the next election! 

His tweet explaining why said: “Climate change is the most important issue on the planet. I made commitments to @antonioguterres & @BorisJohnson to help make sure @COP26 is successful this November. As a goalie, I know you don’t skate off the ice in the 3rd period of a must-win game.” You might if the other team offered to double or triple your pay which I suspect would be the opposite for Carney if he agreed to run for parliament with no guarantee he would win. He would have to forego what he currently receives for the over fifteen plus titles and positions he currently holds to avoid a conflict of interest.

The reduction of emissions he claims are needed will reputedly be created by central banks regulating financial institutions to ensure they price in climate change risk when regulating financial companies. Those institutions will be regulated to both invest and/or lend money to borrowers with sustainability goals! This will be accomplished by instituting “carbon taxes” on all of mankind’s consumption driving up the price of everything. Companies will be required to offset their emissions by purchasing “carbon offsets” which is where the big money will be made at the expense of the consumer.

A recent article in the Financial Times headlined: Carney calls for ‘$100bn a year’ global carbon offset market quotes him saying;“The demand for this is going to be huge, because we have this big shift. More and more companies-and it will be a tsunami by Glasgow-will have net zero emissions plans,” said Mr. Carney. 

Bloomberg Green ran a recent article about a top U.S. seller of “carbon offsets”, Nature Conservancy which noted they were reputedly selling meaningless carbon credits to clients such as “JPMorgan Chase & Co., BlackRock Inc., and Walt Disney Co., which use them to claim large reductions in their own publicly reported emissions.” The article went on to state; “In 2020, companies purchased more than 93 million carbon credits, equivalent to the pollution from 20 million cars in a year.“ An article from GreenBiz on June 14, 2021 claimed: “Carbon offset prices on average stand at just $3-5 per metric ton of CO2 at present, with experts fearing that prices are far below the level required” meaning to reach Carney’s suggested $100bn a year they would have to increase by more than 300 times their current level.

The foregoing raises the question; why has the Trudeau led Liberal Party imposed a cost of C$170/tonne by 2030 when the market is currently trading at only US $3/5.00 per tonne? The current levy on Canadians is currently C$40/tonne or about 10 times the current market rate!

Needless to say, one of the Carney creations; Taskforce on Scaling Voluntary Carbon Markets (TSVCM) recently morphed into Project Carbon, a Voluntary Carbon Marketplace pilot consisting (so far) of  CIBC, Itaú Unibanco, National Australia Bank and NatWest Group. They seek others to join them! Their stated aim, after claiming, “Corporations worldwide are using carbon offsets as a tool to implement their climate action strategies.” is “to support a thriving global marketplace for quality carbon offsets with clear and consistent pricing and standards and will provide a valuable pathway for our clients in their efforts to achieve a net zero goal.”  Presumably those “quality carbon offsets” are unlike those being sold by Nature Conservancy as noted above.

Just a presumption on my part but I suspect the real aim is to profit from the Carney creation and should all governments raise their “carbon tax” to Canadian levels their aim will be achievable.  No wonder another of his tweets stated “I fully support @JustinTrudeau & the @liberalparty and will do everything I can to help.”

It seems obvious Carney’s claim that “Climate change is the most important issue on the planet” is his narrative to fool the masses and Bloomberg L.P. aids the process via the media. His focus is clearly on consolidating wealth among the super-rich and that he joins the club!

The rest of us will own nothing and we will be happy!

The Mark Carney[val] is in Full Bloom[berg] Part 1

Over eight years ago rumours were flying around about future leadership of the Liberal Party of Canada (LPC) suggesting some members and sitting MPs were trying to convince Mark Carney to run for the leadership of the party to challenge Justin Trudeau.  A Globe and Mail article from December 15, 2012 about the rumour quoted Carney saying:  “Certain people want things to happen … the political world, it seems to me, is a world for optimists. I’m in a world that’s a world for realists.”   As suggested in his remark, Carney declined those pushing for him to run for leadership of the LPC! Shortly after the rumours were swirling, Carney went off to become Governor of the Bank of England until March 2020 when he stepped down.

Carney’s juggling Act begins:

After stepping down Carney was appointed as the UN’s Special Envoy on Climate Action and Finance and the UK’s Prime Minister, Boris Johnson, appointed him  Finance Advisor for the COP26 UN climate change conference planned for Glasgow in November 2021

Then on August 26. 2020 Brookfield Asset Management ($600 billion of assets under management) announced Carney had been appointed Vice Chair and Head of ESG (environmental, social and governance) and Impact Fund Investing so his responsibilities, titles and presumably his income kept growing. At one point after he became Vice Chair during an interview, he was quoted stating “Brookfield is in a position today where we are net zero,” Carney said, referring to all of the company’s assets.”  Carney was challenged on that claim and had to walk back on it after being accused of a false claim by many who simply pointed to Brookfield’s investment portfolio. Since the foregoing happened Brookfield, ironically, have been trying hard to acquire Inter Pipeline and recently upped their offer price in a takeover attempt. One wonders how Carney as Vice Chair and head of ESG at Brookfield feels about that move away from his prior claim of “net-zero” and if he blessed it?   

Shortly after his UN appointment he launched what appears to be the big money maker in the world of those who are super rich and use the words “net-zero” in a manner opining; mankind controls the climate! The new entity; “Private Sector Voluntary Carbon Markets Taskforce (TSVCM) was established to help meet climate goals. The September 02, 2020 press release noted: “Initiated by Mark Carney, the group will deliver an action-oriented solutions blueprint. WASHINGTON D.C. AND LONDON – Today, a private sector-led taskforce was launched to begin scaling Voluntary Carbon Markets, which need to be grown and consolidated to help meet the goals agreed in the Paris Climate Agreement.”

Carney was and still is a member of the Group of Thirty and Co-Chairs their Steering Committee; “Working Group on Climate Change” (WGCC). The latter issued a report dated October 2020 titled “Mainstreaming the Transition to a Net-Zero Economy. This group of “economists” (principally) infer; “The evidence that climate change is posing unprecedented risks to our livelihoods is overwhelming.” and goes on to claim “these effects pale in significance compared to what might come. If the world continues on its current path”. Interestingly two of the “experts” presumably involved in generating the report were from BlackRock, the largest asset management firm in the world with over $8 trillion under management.  The scaremongering continues despite many factual scientific studies that show mankind’s influence on “climate change” is far below those “economic” predictions.

 Task Force for Climate-Related Disclosure
The Financial Stability Board established the TCFD to develop recommendations for more effective climate-related disclosures that could promote more informed investment, credit, and insurance underwriting decisions and, in turn, enable stakeholders to understand better the concentrations of carbon-related assets in the financial sector and the financial system’s exposures to climate-related risks.

During Mark Carney’s tenure as Governor of the Bank of Canada and then as Governor of the Bank of England he also served as Chair of the FSB (Financial Stability Board) from 2011 to 2018 and during that time he created TCFD (Task Force on Climate-Related Financial Disclosures) with none other than Michael Bloomberg as the Chairman. “The Financial Stability Board established the TCFD to develop recommendations for more effective climate-related disclosures that could promote more informed investment, credit, and insurance underwriting decisions and, in turn, enable stakeholders to understand better the concentrations of carbon-related assets in the financial sector and the financial system’s exposures to climate-related risks.”

Just before (September 17, 2020) the aforementioned WGCC report was issued, Mark Carney was added to PIMCO’s (Pacific Investment Management Company with assets exceeding $2.2 trillion) Global Advisory Board.  They noted; “Mark’s extensive experience as an economist and central banker, combined with his focus on transforming climate finance, makes him an invaluable addition to this renowned group of thinkers,” said Emmanuel Roman, PIMCO’s Chief Executive Officer.” One wonders with all the responsibilities Carney had by that date just how much time could he devout to “this renowned group of thinkers”?

In February 2021 “Stripe”, a global technology company (market value of $115 billion) building economic infrastructure for the internet, announced that Mark Carney, the former Governor of the Bank of England and the Bank of Canada, had joined the company’s board of directors.”  

His Holiness Pope Francis appears to have been the inspiration in the founding of the Council for Inclusive Capitalism with The Vatican and surprise, surprise, Mark Carney is on their Steering Committee. The “Council” members reputedly have $10.5 trillion in assets under management and $2.1 trillion in market capitalization.

The World Economic Forum (WEF) is the International Organization for Public-Private Cooperation and was founded by Charles Schaub in 1971 and advocates for an “inclusive and sustainable economy for all.”  Based on what is evident the words “inclusive” and “all” references the super-rich like Bloomberg, Fink, Gates and others.  Mark Carney is on the WEF’s Board of Trustees where none other than Laurence Fink (BlackRock) is also a trustee.  They are joined by Canada’s Finance Minister, Chrystia Freeland and Mr. “climate change” himself, Al Gore.  

Carney is also a board member of the Peterson Institute for International Economics (PIIE) self-described as a, “independent nonprofit, nonpartisan research organization dedicated to strengthening prosperity and human welfare in the global economy through expert analysis and practical policy solutions.” The foregoing is their claim but they have been on about the effects of “climate change” for well over a decade so anyone who is a “climate realist” would not support the “nonpartisan” allegation!

Carney is also a member of Bloomberg Philanthropies founded by multi-billionaire Michael Bloomberg. They report: “In 2020, Bloomberg Philanthropies invested $1.6 billion around the world. Over his lifetime, Mike has so far given $11.1 billion to philanthropy.”  It certainly appears a fair portion of that money was aimed at fighting “climate change”.

Carney’s biography also states he is a member of the Board at the Hoffmann Global Institute for Business and Society at INSEAD (The Business School for the World) but beyond his appearance at an INSEAD function as a speaker the search on their website and elsewhere turned up nothing.

Yet another Carney creation via “MARK CARNEY’S PRIVATE FINANCE HUB” is GFANZ where he is the Chair.

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If one totes up the aforementioned entities Mark Carney created or is the Chair or Vice-Chair of and those where he holds a directorship or is on a steering committee you will reach the number fifteen (15). One would surmise most of those positions would require him to spend considerable time on the myriad of details associated with revising financial theories that have been around for centuries and combining those theories with the complexities of “climate change”! Nevertheless, he seems intent on convincing us he is the world’s reigning champion of juggling and can keep those fifteen responsibilities in his eye sight while achieving the goals set for him.

We all will be affected by his efforts to redefine financial issues and achieve net-zero. We must focus on his failures such as his false claim as Vice-Chair of Brookfield Asset Management, “we are net zero”!  There are surely more falsehoods to follow!  

How did Carney get so many auspicious appointments and what are he and his circus of super-rich benefactors and unelected UN bureaucrats aiming for?  Oh, it must be because he is “in a world that’s a world for realists.” How could we forget!  

NB: Stay tuned for Part Two of this series that will provide better insight on the foregoing question.

‘Record’ Heatwave 2021 was nothing compared with 1930’s

I was on the Marc Patrone Show on Sauga 960 AM this morning to talk about the recent heat wave they experienced out west. I was inspired by a chart posted by Tony Heller which led to the interview. I sent the chart out to many and it is the one below. In addition Marc and I also discussed an article (or two) I am researching. It has to do with the incredible influence Mark Carney (former Governor of the Bank of Canada and Governor of the Bank of England) has in the world of the “climate change” religion. He holds this influence with the super rich and many naive politicians around the world who also believe mankind is reputedly responsible for such things as the aforementioned heat wave. Many of the super rich see an opportunity to become richer; is what appears to be behind this push.

You can listen to our chat for todays (July 13, 2021) podcast starting at 1:04:45 and ending at 1:22:45 here:

If you are a subscriber to NEWSTALK CANADA you can listen here:

https://newstalkcanada.com/