Interesting Observations here at Home and Elsewhere Before COP 26

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

Ontario Comes First in Subsidizing Energy Costs

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

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

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

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

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

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

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

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

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

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

LMDC Pushback and China’s Power Crises Impacts Global Economy

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Greenpeace Loses Supreme Court Case Against BP

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

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

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

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

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

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

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

Mark Carney Got One Thing Right But Seems Wrong About His Other Preaching’s

Recently I received Steven E. Koonin’s book “Unsettled” in which he eloquently analysis the 2018 UNIPCC report that served the eco-warriors with some scary scenarios they amplified in their push to stop the world from consuming fossil fuels.  Fossil fuels have served the world in a meaningful way by reducing poverty and climate induced deaths and those issues are highlighted in Koonin’s book with facts.  He is not overly critical of the actual results reported by the scientists who produced the report but castigates the media and politicians for their apparent overzealous approach inferring mankind will perish should we continue to emit CO 2.

Amusingly he does cast aspersions on Mark Carney highlighting him as “the single most influential figure in driving investors and financial institutions around the world to focus on changes in climate and human influences on it.”  Koonin first paints Carney as an outstanding central banker but than clearly highlights one of his faulty claims about the future as it applies to climate change with the verbiage; “it’s surprising that someone with a PhD in economics and experience with the unpredictability of financial markets and economies as a whole doesn’t show a greater respect for the perils of prediction-and more caution in depending upon models.”  

The take from yours truly in respect to Carney was much more critical in a recent article I penned but, having no concerns about offending fellow humans pushing to destroy our economy allows yours truly to point out their fallacies in a less gentle way!

Below is the full text of Koonin’s criticism of Mark Carney as it appeared in my hard copy.  I recommend you take a couple of minutes to read what he had to say and note; it is a reflection on all the other “climate change” issues he opines on.  He calls everyone out with facts, and I would encourage all to acquire and read this excellent book to dispel any false beliefs you may have.                                    

Unsettled by Steven E. Koonin

The following was selected from pages 145 to 147

Mark Carney, former head of Canada’s central bank and later head of the Bank of England, is probably the single most influential figure in driving investors and financial institutions around the world to focus on changes in climate and human influences on it. A learned man, with a PhD in economics from Oxford University, he has been an outstanding central banker. Carney is now the United Nations’ Special Envoy on Climate Action and Finance. He is also a UK advisor for the 26th annual UN Conference of Parties (COP26), a follow-on to the 2015 Paris climate conference that’s due to take place in Glasgow, Scotland, during November 2021.  So it’s important to pay close attention to what he says.

                In a 2015 speech just before the Paris conference, speaking as governor of the Bank of England, Carney laid out many aspects of “the insurance response to climate change.” Extreme weather costs insurance companies a lot of money, so perhaps it is no wonder that his appeal included a warning about flooding:

Despite winter 2014 being England’s wettest since the time of King George; III; forecasts suggest we can expect at least a further 10% increase in rainfall during future winters.

To support that assertion, he cited Britain’s Met Office “research into climate observations, projections, and impacts,” These were model forecasts for the next five years, so you might expect they’d be more accurate than those attempting to project climate fifty years out. Let’s turn to the data and see.

                Figure 7.13 shows the observed winter precipitation (December through February) in England and Wales up through 2020; it’s one of the longest instrumental weather series available, beginning in 1766.  The average rainfall looks pretty constant over decades from 1780 to 1870 and again from 1920 to the present.  A shift occurred somewhere over the fifty years in between, when human influences on the global climate were quite negligible.

                Carney was correct that 2014 was a record wet winter (455.5 mm or 17.9 inches), and it was indeed the “wettest since the time of King George,” since George III’s reign lasted until 1820. But the Met Office models Carney cited back in 2014 all turned out to be dead wrong. Rainfall during the six winters after 2014 was well in context with the previous century, and it averaged 278 mm, 39 percent less than the 2014 record and nowhere near the “at least” 500 mm implied by the predicted increase. And a Met Office analysis published in 2018 found that the largest source of variability in UK extreme rainfalls during the winter months was the North Atlantic Oscillation mode of natural variability not a changing climate.

                Of course Carney could take refuge in his speech’s subjunctive “forecasts suggest” and the indeterminate hedging of “future winters.” Nevertheless, it’s surprising that someone with a PhD in economics and experience with the unpredictability of financial markets and economies as a whole doesn’t show a greater respect for the perils of prediction-and more caution in depending upon models.”

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

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 Plays the Shell Game

For someone holding the credentials of “Former Governor of the Bank of Canada” and “Former Governor of the Bank of England” one would surmise that individual would be someone with the ability to have logic on their side. If you are someone who recognizes Mark Carney as that individual you may become disappointed based on some of his recent claims and media reports.

As noted in an earlier composition, after Carney became the Vice-Chair of Brookfield Asset Management, during an interview February 10, 2020, he made the claim; “Brookfield is in a position today where we are net zero,” Carney said, referring to all of the company’s assets.” Carney was forced to walk back on that claim as green energy advocates challenged him saying his claim was false.

Carney Moves Net Zero for Brookfield

A recent announcement by Brookfield and their role in the creation of an “Initial US$7 Billion Closing for Brookfield Global Transition Fund” has apparently resulted in Carney moving their “net zero” claim into the future.  The press release carries the following quote from him showing his initial claim may have been out by 30 years! His quote was: “Brookfield is committed to achieving net-zero by 2050 or sooner, and to accelerating the global net-zero transition.”  For someone who is advocating for ESG (environmental, social and governance) audits for all corporations globally it appears he is unaware of exactly what he is proposing and the results that will occur.

The Brookfield announcement, related to the new “Transition Fund”, is a partnership with Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) and Temasek, who have both committed to achieving net zero by 2050 or sooner.  Assets held by the three funds totals approximately Cdn$1.171 tillion so the commitment ($7 billion) represents a miserly 0.7% of their current total assets. Total assets for Ontario Teachers is reported as $221.2 billon, for Temasek (Singapore) S$381 billion (Cdn$350.6 billion) and for Brookfield Asset Management over Cdn$600 billion!  Needless to say, many of the assets held by all three are emitting CO 2 so they will have a difficult time meeting their commitments before 2050. The 0.7 % commitment will not move the net zero bar very far unless they plan to buy cheap “carbon offsets” that Carney is a fan of.

Rest assured that with Carney’s role as the UN’s Special Envoy on Climate Action and Finance and the UK’s Prime Minister, Boris Johnson, Finance Advisor for the COP26 UN climate change conference planned for Glasgow in November 2021 he will continue his push for net zero along with his claim that the ESG audits are needed for all corporations.  

As Carney keeps moving the “net-zero” pea under the shells and preaching from the pulpit of “climate change” we should hope he will be recognized by all as someone similar to Chicken Little who insisted “the sky is falling”!

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.