Marc Patrone Show January 4, 2022 SAUGA 960 AM

Marc Partrone once again invited me on his daily talk show to discuss some recent events such as the major increase in energy costs in the UK and Europe and how those industrial wind turbines which caused the problems in the UK have recently demonstrated their out-of-sync attributes in Ontario.

Needless to say, we covered other “climate change” issues like the recent record cold experienced in Alberta and Saskatchewan and a few other topics.

You can listen to the podcast at the following link starting at 1:04:50

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

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

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

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

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

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

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

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

What about the Covid-19 pandemic?

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

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

Who owns Moderna, Pfizer and Tesla?

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

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

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

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

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

Catching my Eye—Tragedies related to Climate Change

It is becoming evident the “climate change” push to achieve “net-zero” is causing lots of problems around the world but they appear to have nothing to do with an increase in floods, heat deaths, hurricanes, wildfires, harm to reefs, melting Antarctic or Arctic ice! 

The “sky is falling” referenced by politicians, bureaucrats and eco-warriors at COP 26 claiming it’s caused by emissions, instead, appears to be caused by their push to reach that “net-zero” emissions target!

Some recent examples:

Because electric buses catch fire easily, many German cities are taking the expensive electric buses out of service.

A recent article stated: “Lower Saxony is right at the forefront when it comes to electric bus transport. In June, however, a major fire broke out in a bus depot in Hanover in the Mittelfeld district, in which the fire destroyed nine vehicles belonging to the Üstra transport company. Cause: The battery of an electric bus had caught fire.“  In Stuttgart another electric bus fire noted 25 vehicles were destroyed by fire.

One should assume those transit* bus fires would result in major insurance claims but those insurance companies, if members of Mark Carney’s GFANZ (Glasgow Financial Alliance for Net-Zero) creation, with their $130 trillion in assets, will blame the event on “climate change”!

Maine voters reject $10 billion Hydro-Quebec deal; Legault says project will go ahead                                       

Hydro-Quebec got hit with a shock when a referendum in Maine rejected completion of a major transmission line passing through the state to reach Massachusetts. Hydro-Quebec signed a long-term supply agreement with Massachusetts to supply “clean hydro electric power” to replace some coal fired generation.  Those eco-warriors in Maine pushing to stop the transmission line argued; “environmentalists say that hydropower isn’t as low-carbon as it seems, between the building of dams and the decomposition of vegetation underwater in flooded areas, which creates some greenhouse gases. They’d prefer a turn to other clean energy sources, like wind.“  Premier Legault who was attending COP 26 said “Nothing is certain in life, but I am confident it will happen“. 

Sometimes it’s comforting to see politicians who have firmly committed to “net-zero” as Premier Legault has, get beaten up by those same eco-warriors they were intent on winning over for their votes!

Volvo says emissions from making EVs can be 70% higher than petrol models – and claims it can take up to 9 YEARS of driving before they become greener

It is interesting to note Volvo, back in March 2021, committed to being fully electric by 2030 recently stated: “greenhouse gas emissions during production of the electric vehicle are nearly 70 per cent higher than a petrol model, which is mainly due to the carbon intensity of battery and steel production, as well as from the increased share of aluminium in the plug-in car.“  This article went on to say; “at current global electricity mix, it needs to be driven almost 70k miles – 9 years based on average UK mileage – to offset its higher production emissions“  Volvo goes on to suggest if the batteries are charged** with “green energy” the emission offset will occur at 30k miles. Most EV manufacturers are now required to warranty battery life for 5 to 8 years meaning at some point shortly after, those batteries will reach their “end of life”, with a replacement cost of USD $5K to $15K each. 

What Volvo don’t say is about recycling those batteries. Dr. Paul Anderson of the University of Birmingham when queried about the percentage of recycled lithium-ion batteries stated: “the value everyone quotes is about 5%,” says Dr Anderson. “In some parts of the world it’s considerably less.“ Lots of taxpayer dollars are being expended to try and find a way to increasing that miserly 5% but because of the toxic nature of many of the hazardous materials they “have an inconvenient tendency to explode if disassembled incorrectly.”

From all appearances it seems the move to “green” the economies of the world through “electrification” of everything is not what the eco-warriors and the politicians they have converted to their beliefs, will find to be an easy task.

Perhaps those politicians know but don’t care as they will not be in power when the proverbial s##t hits the fan! 

*Those fires should alert some Ontario municipalities like Ottawa and Toronto, as well as the Province of Quebec to future problems should they electrify their transit and school bus fleets as planned; but don’t count on it!

**Cold climates affect EV batteries negatively causing them to be recharged more frequently.