Posted on 12/26/2024 5:13:04 AM PST by MtnClimber
My post on Saturday noted one big reason for optimism that the green energy fantasy is coming to the end of its run: the first country, Germany, has apparently begun to hit the green energy “wall.” Although Germany has never consistently reached even 50% of its electricity production from wind and solar, its ability to continue its green energy dreams has stalled: its electricity prices have soared, its manufacturing sector has been seriously undermined, its economy is in recession, and recently its green-promoting government has fallen. Its failed example now stands for others to see and avoid.
And as I look around at developments since the election, I see a number of other reasons to reinforce my cautious optimism. Maybe it’s that the political environment has changed, and maybe it’s that some people are starting to recognize that you can’t beat the laws of physics; and maybe it’s some of both. Here are examples:
Banks and investment firms quitting net zero “alliances”
On Saturday’s post, commenter William Bell asked “Who, exactly, is preventing third-world inhabitants from using wood, charcoal, coal, petroleum derivatives, and/or natural gas for fuel and by what means?” Apparently Mr. Bell, and maybe many others, is unaware of the many “alliances” of banks and investors seeking to starve fossil fuels of investment capital, and thus prevent third-world countries (and everybody else) from continuing to use them. Most of these groups are somehow directed and overseen by the UN. Examples of these groups include the Net Zero Banking Alliance (“Bank-led, UN-convened”), the Net Zero Asset Managers Initiative, and Climate Action 100+. I’m sure that I have not got them all. The members are, or have been, a who’s who of all the biggest banks and investment firms in the world.
The Center Square reports here on December 20 that two rather significant banks, Goldman Sachs and Wells Fargo, have just quit the NZBA:
Not soon after the general election, and within two weeks of each other, two major financial institutions have left a United Nations Net Zero Banking Alliance (NZBA). This is after they joined three years ago, pledging to require environmental social governance standards (ESG) across their platforms, products and systems.
House Judiciary Committee issues report accusing large money managers of running a “climate cartel”
On December 13, the House Judiciary Committee issued a Report titled “Sustainability Shakedown: How a Climate Cartel of Money Managers Colluded to Take Over the Board of America’s Largest Energy Company.” The Report documents the process by which the Climate Action 100+ alliance, “emboldened” by encouragement from the Biden/Harris administration, orchestrated replacement of three board members of Exxon in May 2021. The collusive actions of the largest investment firms and proxy advisors are described as a “cartel” clearly violative of the antitrust laws.
Red state AGs sue investment firms for antitrust violations for colluding on “climate” issues
Maybe it’s coincidence, but shortly before the issuance of the Judiciary Committee Report, an antitrust suit was brought on November 27 by eleven red state AGs, led by Ken Paxton of Texas, accusing participants in the investment industry of collusive conduct in enforcing “climate” and other “ESG” goals. The defendants in the case include the three largest money managers, Vanguard, BlackRock and State Street. From Bloomberg Law, November 27:
BlackRock Inc., Vanguard Group Inc. and State Street Corp. were sued by a group of states led by Texas for allegedly breaking antitrust law by boosting electricity prices through their investments, in the highest-profile lawsuit yet against the beleaguered ESG industry. Texas Attorney General Ken Paxton and 10 other states claim the money managers, as part of their green agenda, combined their market clout and membership in climate groups to pressure coal producers to cut output.
TotalEnergies pauses major wind farm in the waters off New York and New Jersey
Also on November 27, French energy giant TotalEnergies announced that it was “pausing” its major Attentive Energy off-shore wind project in the Atlantic Ocean off New York and New Jersey. In his announcement of the “pause,” Total’s Chairman specifically attributed the action to the anticipated policies of the incoming Trump administration. From Offshore, November 27:
TotalEnergies has reportedly paused development of the Attentive Energy wind farm it planned to build off the coast of New York and New Jersey, CEO Patrick Pouyanne said Tuesday at an energy industry conference in London. “I have decided to put the project on pause,” TotalEnergies’ CEO Patrick Pouyanne said at the Energy Intelligence Forum, according to reports from Bloomberg and Reuters. The decision is one of the first tangible signs of a halt in investment in renewable power sources due to the anticipated policies of the incoming Trump administration. Trump has vowed to stop offshore wind energy development “on day one” of his next term starting in January 2025.
The new Trump administration is still almost a month away from taking office, but already the anticipation of its arrival is having the positive effect of driving some of the parasites into hiding.
There are many more such positive developments out there. I’ll see if I can assemble a few more before year’s end. Meanwhile, I’m as hopeful as I’ve ever been that the green energy mania is fading.
If the parasites go into hiding they will be back when the conditions are right. There need to be laws to prevent their activities.
It’s a racket Jim
“I’m as hopeful as I’ve ever been that the green energy mania is fading.”
What??? No bridge to Europe?...no battery powered planes or battle tanks????
That little airhead waitress aoc is gonna be BIG mad. Lol!
“Destroying the country’s energy system is a legitimate military necessity” NATO press secretary Jamie Shea said in 1999 during the attacks on Yugoslavia. “And if at the same time the civilian population suffers, then this is solely the fault of the country’s leadership.” —— Washington Post NATO’s own words come back to haunt them.
Germany is going to be a continuing and ongoing example for all to see. Their manufacturing sector is done. Its like someone with a fatal wound who just hasn’t died yet but death is certain. They simply cannot survive with the energy costs they have to pay. There is no way out. Germany can’t build new nuclear power plants - the Gaia worshipers would never tolerate it. They can’t burn coal for the same reason. They have to buy their natural gas at spot market prices which are considerably higher than they were paying and they can’t compete at those prices. You will see more and more manufacturers closing down plants in Germany and opening plants overseas.
Eric Hoffer, the “longshoreman philosopher,” nailed it many years ago: “Every cause begins with a movement, which develops into a business, and ends up being a racket.”
Good word choice.
It’s a fine line between organized crime and federal government.......and many times NO line.
I’m trying to figure out where a State..say California...gets the power to outlaw the sale of gas automobiles.
Turning farmlands into solar farms is insane.
$cam
I’ll believe it when Toyota is allowed to sell the diesel Hilux in the US.
I remember in the 90s decent cars such as GM 3800 or Honda civics would get 30+ mpgs. Now my new Honda gets the same mileage with all this extra efficiency technology. Doesn’t make sense.
Yep and my hybrid Rav4 with the extra battery weight really doesn’t get any better mileage than an ICE.
They covered good farmland here in central TX with solar panels and always adding the rarely functioning windmills. I have no problem with new technologies as long as they are not taxpayer supported. Yes, it’s a scam.
It’s all a scam for the connected to invest in, and fleece the taxpayers. Solyndra was the model. Hydroelectric works, solar & wind are a folly, on a commercial scale...scam.
Simple answer - state’s rights. The Constitution does not state nor imply that FedGov has such a power so it becomes a choice for each individual state. The much abused Interstate Commerce clause/act might be used to apply pressure to CA into stopping this insanity but the court battles will take a long time.
Interestingly the hard left will find themselves in a quandary which will once again put their hipocrisy on display. They lust for unlimited FedGov power but since CA is doing something they want (ban ICE usage) they must support CA’s authority to invoke the ban.
States dating back to English kings like New York have power that is only limited by their constitution and the federal Constitution.
I believe federally created states like California should have no more than necessary and proper power, but I don’t sit on the Supreme Court.
California owns most of its roads, so only what it approves can run on them.
“Germany can’t build new nuclear power plants”
Nuclear powerplants can be built on ships.
The US Navy provides proof.
Green energy cannot exist without massive government subsidies and green energy hucksters have become very adept at getting federal dollars selling their snake oil solutions to the “climate crisis”. The corn ethanol boondoggle is probably the most successful of these scams and has many corn state members of Congress in their pocket. Ironically the corn ethanol boondoggle is now shown to be a major producer of the dreaded CO2, but fear not another climate scam is proposing a pipeline across Iowa and the Dakotas to transport the dreaded CO2 so it can safely be disposed by injecting it deep underground in North Dakota. There is a sucker born every minute and most suckers reside in Washington, DC.
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