‘If you tell a big enough lie and tell it frequently enough, it will be believed.’
Adolf Hitler (1889–1945)
History is replete with big fat lies being told and more astonishingly, being believed.
Socialism is the perfect model for equal distribution of wealth (I am pausing to have a chuckle at that one).
Religion based on men in spaceships (oh stop it).
Hitler laying blame for Germany’s economic ills at the feet of the Jews (what a tragedy on so many levels).
It’s ironic the lie that began as ‘Global Warming’ attracted mainstream attention from a movie (ironically) titled “The Inconvenient Truth”.
Al Gore’s work of fiction was (for him) inconveniently exposed by the findings of a UK High Court judge.
When Gore’s alarmist forecasts, like ‘a sea-level rise of up to 20ft would be caused by melting of either west Antarctica or Greenland in the near future’ did not eventuate, there was a very clever shift in narrative…Global Warming was abandoned for ‘Climate Change’.
I say “clever” because who can argue with climate change?
Countless conversations begin with a passing remark on the weather.
“Bit cold today”…
“Gee, it was warm on the weekend”…
The one constant in all our lives is a changing climate…well before the River Thames froze over…
|
|
| Source: ITV News |
The real inconvenient truth about climate change is it’s ‘a big enough lie, that’s been told frequently enough to have been believed by enough people.’
As ridiculous and non-sensical at it is, we now have Western Governments sanctioning the sabotage of reliable base load power supplies.
The demonisation of fossil fuels is as astounding as it is mind-blowingly stupid.
The gun these idealistic imbeciles have cocked and loaded is not pointed at our feet, they’ve put it to society’s temple.
(Editor’s Note: Such a plan is bound to have some sort of motive behind it, however ridiculous. And with the facts failing to justify its viability to ‘save the planet’, these motives could be entirely selfish in origin. Watch the interview at the end of this article for more…)
The real cost of renewables
The whole snow job (maybe this term won’t be used anymore with global warming) about ‘low cost’ renewables was laid bare in this Wall Street Journal article on 4 September, 2023…
|
|
| Source: WSJ |
To quote (emphasis added)…
‘The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers in New York and other states to bail them out.
‘According to a report late last month by the New York State Energy Research and Development Authority (Nyserda), large offshore wind developers are asking for an average 48% price adjustment in their contracts to cover rising costs. The Alliance for Clean Energy NY is also requesting an average 64% price increase on 86 solar and wind projects.
‘The IRA includes federal tax credits that can offset 50% of a project’s costs. But renewable developers say their costs are increasing faster than inflation and that the projects will “not be economically viable and would be unable to proceed to construction and operation under their existing pricing,” says Nyserda.
‘The climate lobby says power from wind and solar is cheaper than from fossil fuels, but that’s true only with generous subsidies and near-zero interest rates. Price adjustments that renewable developers want in New York would make solar and wind two- to five-times more expensive than natural gas power.’
Who would have guessed that absent huge (and, never-ending) Government subsidies and increased rates, renewables are about as economically viable as a surf shop in the Arctic?
Never saw that one coming (tongue now firmly in cheek).
Far from being the solution, renewables are part of the problem…and opportunity for astute investors. We’ll circle back to this shortly.
But first, let’s…
Follow the money
Wall Street could not give a flying fig about Environmental, Social or Corporate Governance.
Sure, words are mouthed. Virtues are signalled. But, underneath the stage managed socially conscious veneer, it’s all about the money.
Blackrock (the world’s largest asset manager) actions speak far louder than any words.
To quote from Blackrock’s Press Release on 17 July, 2023…
‘BlackRock, Inc. (NYSE: BLK) announced today that it is naming the Chief Executive Officer of the Saudi Arabian Oil Company (“Aramco”), one of the world’s largest integrated energy companies, to BlackRock’s Board of Directors (“Board”), while also preparing for the departure of a Board member.’
Why would BlackRock appoint the CEO of the world’s largest oil producer to its board?
Could it be…
a) wanting to get a slice of the fees associated with the potential sale of a US$50 billion stake in Aramco or
b) getting an insider’s view on how to position the firm’s allocation to the most sought-after commodity on the planet or
c) wanting to convince the newly appointed director of the error in his ways and persuade him to abandon oil production in favour of renewables?
In keeping with the ‘follow the money’ theme, my money is on a) and b).
Blackrock knows the demand for fossil fuels is only going to increase NOT decrease.
Why?
Because renewables and electric vehicles do not magically appear in some carbon-free other world.
Milk does not come from the carton
They are made here on Earth from things mined on this Earth.
We laugh at city kids who think milk comes from containers.
Yet, there are a lot of adults out there who have no clue what it takes to manufacture wind turbines, solar panels (made with slave labour in China) and EVs.
In July 2019, the left-leaning film maker, Michael Moore released a movie titled Planet of the Humans. You can watch it here on YouTube.
Climate change activists (who remained ‘surprisingly’ silent about the inconsistencies in Al Gore’s 2006 work of fiction) found their voice and campaigned to have it removed from the public domain…
|
|
| Source: The Guardian |
Whether you agree with everything in the movie or not, the one thing that’s abundantly evident is the amount of ‘stuff’ that needs to be extracted from this Earth to turn the renewable dream (or, nightmare) into a reality.
Governments have too much political capital invested (and, no doubt money invested via their spouse’s portfolio…did someone say Nancy Pelosi?) to abandon the Green Dream.
Therefore, rivers of taxpaying dollars are going to flow into the coffers of mining companies who can get this stuff out of the ground and into the outstretched hands of subsidy-seeking renewable developers.
Net zero is a pipe dream
The reality is Net Zero is not within a ‘bull’s roar’ of happening.
Capitalising on this mismatch in ideals and the real world (the one we extract commodities from) is where my mate Greg Canavan comes into his own.
Greg has been all over this story for years now and knows how to clinically assess what’s real and what’s not in the commodity complex.
We are in the early stages of a massive trend in commodity markets…one that’s destined to be fuelled by higher inflation and lower IQs.
To find out more about the opportunities from this trend, listen to Greg Canavan…someone who has the intelligence — as proven by his investment track record — to add value to investor portfolios.
His controversial research report, NOT ZERO, drops this week. Keep an eye on your inbox and be ready to stream the video. This one’s going to rattle a few cages…but it reveals a seriously compelling investment opportunity for those who can handle being called ‘heretics’…
Regards,
 |
Vern Gowdie,
Editor, The Daily Reckoning Australia
PS: As promised, check out this cracking interview where Greg talks to former Liberal Senator and founder of the Australian Conservative party, Cory Bernardi.
| The Political Fallacy of Net Zero – Interview with Cory Bernardi |
Cory has been a strident critic of the energy transition, seeing it as a global movement driven by Marxists, aided and abetted by what he calls a ‘spineless and leaderless’ political class.
In short, Cory says that the climate catastrophe scare tactics are more about fear and control, rather than anything else. It’s a compelling take on this controversial topic, and one that won’t see the light of day in mainstream media circles.
It’s definitely worth checking out…
