Month: February 2020

Half-a-billion people locked down in their homes – Video

Imagine ordering everyone in New York City, Chicago, Dallas, Atlanta, Los Angeles, San Francisco, to stay home. No one is allowed out on the streets. What would happen to our economy? To our infrastructure?

This video is entitled “SHTF has already started – Corona-V fall out.

This guy talks not only about the coronavirus itself, but puts much emphasis on the economic consequences.

Look at what the contagion is doing in the world of business. People are not allowed to leave their homes. This stops commerce dead in its tracks.
The Chinese government and the whole world has created a hysteria around this.

This is going to affect the bottom line of American corporations. The U.S. is going to have supply-chain issues. Same with Europe.

“I hope you have your finances in order and that you’re doing the best you can to manage debt, have some savings, protect your wealth, whatever it is you do, along with having food, water, shelter, clothing, medicine and a means of self defense.

Remember, government is not about serving you. It is about serving government and keeping themselves in power.

Chance favors the prepared mind.

Thanks to Winston Smith for this video

The post Half-a-billion people locked down in their homes – Video appeared first on Ice Age Now.

via Ice Age Now

https://ift.tt/2UTdaTL

February 12, 2020 at 08:38PM

Climate Lawsuit: Ecologist Sues Own Retirement Fund

Guest essay by Eric Worrall

A University of New South Wales associate professor of law is suing his own retirement fund, over a claim the fund managers are failing to address climate risk.

Climate change: Could your super fund be liable?

Twitter Facebook LinkedIn12 FEB 2020
DAWN LO, BEN KNIGHT 

Is the next shake-up to Australia’s superannuation industry just around the corner?

Can you sue your super fund for financial loss incurred as a result of climate change? This controversial question will be addressed in a landmark court case in July this year and will place Australia’s estimated $3-trillion super industry under the microscope.

Has your super fund failed to protect your retirement savings from climate change risks?

The case in question centres around a 24-year-old ecologist who has taken his trustee to court, claiming the financial loss associated with climate change was not factored into his retirement investment. The outcome of the case could set a precedent for whether super funds must take climate change risks into account.

UNSW Law’s Associate Professor Scott Donald, Director of The Centre for Law, Markets and Regulations (CLMR) – a joint initiative of the Faculty of Law and UNSW Business School – says the risk of climate change cannot be avoided and is already impacting investment returns.

“Climate risk is here – it is affecting the valuation of assets and also the investment opportunity set now. Sticking one’s head in the proverbial sand is not a viable investment option.”

Associate Professor Donald says the legal responsibility of super funds could extend to protecting against the risks imposed by climate change.

“The law is clear – super fund trustees have an explicit duty to pursue the best financial interests of members. So, to the extent that climate change poses financial risks, the duty is already there. The problem is one of priority. Unfortunately, not all trustees see action on climate risk as a priority, at least not for their fund.”

Read more: https://newsroom.unsw.edu.au/news/business-law/climate-change-could-your-super-fund-be-liable

Surely the obvious answer is, if you are not happy with the risk management policies of your current pension fund, shop around for a new fund, or start your own; Under Australian law running your own own “self managed fund” is an entirely viable proposition.

There are funds which invest in fashionable green business ventures, though green investments have their own risks. The 2011 collapse of Solyndra obliterated at least $187 million of Tranche “E” investment fund assets, including money from Richard Branson’s Virgin Green Fund, which eventually shut down in 2014.

Spain’s abrupt cancellation of billions of dollars worth of renewable subsidies in 2012 reminded green fund managers who invest in businesses which depend on government subsidies, that governments can arbitrarily rip up renewable subsidy agreements without notice or compensation.

What about investing in China? China dominates manufacturing of solar panels and wind turbine components, so surely there should be plenty of opportunities to invest in profitable green Chinese manufacturing enterprises?

Not so fast. Communist China’s sovereign risk profile has just taken a major dive. Two key Chinese manufacturing cities in the last few days passed laws allowing city authorities to arbitrarily seize private assets, to help combat the Corona Virus.

The one thing fund managers truly fear is the possibility a corrupt government might seize their fund’s assets. Given China’s horrendous levels of corruption, it is likely only a matter of time before a corrupt Communist official uses those new seizure laws to enrich themselves at the expense of Western fund managers and investors. Expropriated owners are supposed to receive fair compensation, but the level of compensation will be determined by the officials exercising the new seizure laws.

Even if the Corona virus is rapidly defeated, and we all hope for the best, this new power to arbitrarily seize assets will be a reminder to green investors and others that property rights are subject to the whim of government officials in Communist China.

via Watts Up With That?

https://ift.tt/2SAyfPW

February 12, 2020 at 08:04PM

First-ever polar bear population survey for entire Russian coast planned for 2021-2023

Word that Russia is planning to generate a count of polar bears along its entire Arctic coast within the next few years is good news indeed, as it will resolve a long-standing gap in population estimates that have not been dealt with at all well by the polar bear community. Whether North American and European academics will accept the results of the aerial surveys is another matter entirely, especially if the numbers are higher than they like, which is what happened with the first Russian Kara Sea count in 2013.

Mother with cubs Russia_shutterstock_71694292_web size

Up first will be the Chukchi and East Siberian Seas in 2021, the Laptev and Kara Seas, in 2022, and the eastern Barents Sea around Franz Josef Land in 2023.

Polar bear regions_larger

Press release (12 February 2020), “Russia to count polar bears for the first time“:

Russia will carry out a full count of the polar bear population for the first time as part of the Ecology national project. Such a decision was made following a meeting of the polar bear conservation and recovery working group under the Ministry of Natural Resources and Environment.

According to the plan, an aerial survey of the animals will be conducted in the Chukchi and East Siberian seas in 2021, in the Laptev and Kara seas in 2022 and in the eastern part of the Barents Sea and waters around Franz Josef Land in 2023.

“This way we will get the most complete data on the polar bear population in our country for the first time ever,” the ministry’s press service reports.

The meeting focused on the planning and future preparations for the population monitoring.

“The project’s roadmap designates 2020 for preparatory activities: developing, approving and coordinating the aerial survey operations, training project participants, purchasing equipment, and working out and approving recommended methods of organising and performing the polar bear count,” reads the report.

Participants in the working group meeting also noted that the study will take into account the polar bear conservation strategy in Russia as well as such international arrangements as the agreement between the USSR, Canada, Denmark, Norway and the United States on polar bear conservation of 1973 and the agreement between the Russian and US governments on the conservation and management of the Alaska-Chukotka polar bear population concluded in 2000.

The IUCN Polar Bear Specialist Group has so far ignored the count done in the Kara Sea in 2013 by Russian biologists, which generated an estimate of 3,200 bears (range 2,700-3,500)(Matishov et al. 2014, in English). They used this number when they had to for the official 2015 Red List assessment – because if they hadn’t, the IUCN threatened to list polar bears as ‘data deficient’.  However, the PBSG still list the population size as ‘unknown’ on their website status table (updated in September 2019) and do not cite the Matishov et al. paper. The Chukchi Sea estimate of 2,937 bears (1522-5944, from 2016)(AC SWG 2018; Regehr et al. 2018) does get listed on the PBSG website – even though it required extrapolation from one small area of survey in US territory to the entire US/Russia region (see map below from the Regehr paper).

Regehr et al. 2018 fig 1

In my discussion of that Chukchi Sea survey, I pointed out that the Laptev Sea is now apt to have many more bears than the 1993 estimate of about 1,000 bears, since it is a huge region where 85% of it is continental shelf habitat preferred by polar bears most of the year. Time will tell whether I was right or not about the Laptev Sea – and whether the counts from across Russia will be in line with my best guess’ global estimate of 39,000 (26,000-58,000) that I proposed in The Polar Bear Catastrophe That Never Happened as a plausible estimate at 2018.

References

AC SWG 2018. Chukchi-Alaska polar bear population demographic parameter estimation. Eric Regehr, Scientific Working Group (SWG. Report of the Proceedings of the 10th meeting of the Russian-American Commission on Polar Bears, 27-28 July 2018), pg. 5. Published 30 July 2018. US Fish and Wildlife Service. https://www.fws.gov/alaska/fisheries/mmm/polarbear/bilateral.htm pdf here.

Crockford, S.J. 2019. The Polar Bear Catastrophe That Never Happened. Global Warming Policy Foundation, London. Available in paperback and ebook formats.

Matishov, G.G., Chelintsev, N.G., Goryaev, Yu. I., Makarevich, P.R. and Ishkulov, D.G. 2014. Assessment of the amount of polar bears (Ursus maritimus) on the basis of perennial vessel counts. Doklady Earth Sciences 458 (2):1312-1316. [paywalled]
http://link.springer.com/article/10.1134/S1028334X14100298

[Original Russian Text © G.G. Matishov, N.G. Chelintsev, Yu.I. Goryaev, P.R. Makarevich, D.G. Ishkulov, 2014, published in Doklady Akademii Nauk, 2014, Vol. 458, No. 6, pp. 706–710.] Lead author email: matishov@mmbi.info ]

Regehr, E.V., Hostetter, N.J., Wilson, R.R., Rode, K.D., St. Martin, M., Converse, S.J. 2018. Integrated population modeling provides the first empirical estimates of vital rates and abundance for polar bears in the Chukchi Sea. Scientific Reports 8 (1) DOI: 10.1038/s41598-018-34824-7 https://www.nature.com/articles/s41598-018-34824-7

via polarbearscience

https://ift.tt/31Vla83

February 12, 2020 at 07:42PM

The GOP’s Carbon Capture Dodge

Carbon capture and sequestration (CCS) is a really stupid idea. Here’s why, as explained in my essay at American Greatness. Why is House Minority Leader Kevin McCarthy falling for the CCS scam?

House Minority leader Kevin McCarthy (R-Calif.) is releasing a climate bill this week. The purpose is “to put the GOP on the map on climate” in response to polls reporting that enough young voters have finally succumbed to a lifetime of being propagandized on climate.

No sane Republican politician would saddle our economy with pointlessly expensive—the only kind that there are—climate regulations. But there are many who would gladly try to appease climate alarmists by throwing around limited amounts of taxpayer dollars on various boondoggles to make it look like they take the matter seriously. One of these boondoggles is carbon capture and sequestration (CCS)—which is the focus of McCarthy’s bill.

The basic CCS idea is to capture carbon dioxide (CO2) either as it comes out of, say, a power plant smokestack or to have virtual vacuum cleaners literally suck CO2 out of the air. In either case, because CO2 is a gas, it then needs to be converted into a liquid or a solid and then stored somewhere. Technologies for both already exist and are in use to a limited extent. The former technology has some actual value—not related to climate—while the latter is just a steroidal high school science fair project.

Capturing CO2 or Capturing Federal Dollars?

For decades, oil drillers have used compressed CO2—captured from power plants, purchased by drillers and pipelined to nearby oil fields—to force oil out of the ground that is otherwise difficult-to-impossible to extract. This “enhanced oil recovery” (EOR) has always made perfect economic sense on its own. The oil produced is well worth the price of forcing it out with CO2. So far so good.

But now, oil drillers and fossil fuel power plants engaged in EOR want to profit from the climate scam. They want to claim that the CO2 they inject underground to produce oil is sequestered there and so doesn’t increase CO2 in the atmosphere. For this, they can already earn a federal tax credit of $35 per ton. Even assuming that the injected CO2 remains underground permanently—an uncertainty—they are omitting the full story.

The reality is—and the math is simple—that EOR actually results in higher CO2 levels in the atmosphere. When it is burned, the oil produced via EOR emits slightly more CO2 than was used to produce it. That’s right, EOR results in higher CO2 emissions. Yet oil companies pretend that EOR reduces emissions—and they want to be paid for pretending to do that and patted on the back for being climate friendly. It’s a 100 percent scam.

Another CCS fantasy that has been touted by some in the coal and gas industries as well as coal-burning electric utilities is that they can capture CO2 before it leaves power plant smokestacks, convert it into a liquid, and then to pipeline it as far as hundreds of miles away to be stored deep underground in saline formations.

While it is technically possible to capture, convert, pipeline, and inject underground CO2 from smokestacks, that is all that can be said for it. Not only is the process very expensive—the cost of extra smokestack technology, the additional 30 percent energy required, the pipelines etc.—it simply can’t be accomplished on a large, utility scale.

Coal plants in eastern states, for example, would have to pump their CO2 hundreds of miles in nonexistent and difficult-to-get-approved pipelines to Midwest saline formations. Once there, thousands of expensive wells, each costing millions of dollars, would have to be drilled every year to inject the CO2 underground. For comparison purposes, about 13,000 new (and controversial) fracking wells are drilled every year. But they are money makers. That would not be the case with CO2 injection wells, which are all cost.

And did I mention that it’s not even clear that there is enough space underground to store large amounts of CO2? It has been estimated that storing the CO2 emitted by a single large coal-fired power plant would require an underground area the size of the state of Maryland.

The federal government and private utilities have already wasted close to $10 billion chasing the fantasy of power plant CO2 capture. Even small-scale projects have failed. Little-to-no CO2 has been stored. But lots of money has been wasted.

Vacuuming the Atmosphere or Our Wallets?

The other foolish CCS technology being pursued is direct air capture of CO2. This technology involves large devices that suck in outdoor air and chemically remove the CO2. It’s technically possible, but not at all practical.

Occidental Petroleum is building a direct air capture plant that is expected to be able to capture about 500,000 tons of CO2 every year at a cost of hundreds of millions of dollars. However, manmade emissions of CO2 are about 55.3 billion tons per year, about 40 percent of which (22 billion tons) remain in the atmosphere. So it would take about 44,000 of such direct air capture machines (each costing hundreds of millions of dollars) to be built and operated to remove today’s level of manmade emissions. These 44,000 machines, costing trillions of dollars, would also require about 50 percent of our current electricity demand to operate.

There is one other recently launched CO2 capture technology that should be mentioned.

This latest fad for capturing and sequestering CO2 is the so-called One Trillion Tree Initiative which was announced at the 2020 World Economic Forum event in Davos. The idea is that trees capture CO2 and store it in their roots, trunks and branches. But while everyone loves trees, trying to fight global warming with trees would actually be counterproductive.

For those who subscribe to the climate “science” of the United Nation’s Intergovernmental Panel on Climate Change (IPCC), an inconvenient fact is that they are also stuck with this reality: forests cause global warming.

In its August 2019 report “Climate Change and Land,” the IPCC reported that forests in temperate and northern latitudes—i.e., where the vast majority of the trillion trees would be planted—actually have a warming effect. The reason for this is that (dark) forests decrease the amount of solar radiation reflected back to space, which means more solar radiation can be absorbed by the Earth and then re-radiated out as infrared radiation that can be trapped by greenhouse gases.

And what’s a program that actually has a cooling effect? The IPCC reports that it is deforestation—in other words, cutting down trees. So if reducing warming is the goal, it would have made more sense for the World Economic Forum to have announced the Paul Bunyan Initiative.

If all the foregoing isn’t enough to douse the notion of CCS, let alone unilateral CCS in the United States, consider this thought experiment: Let’s pretend that the United States magically stopped emitting CO2 today and forever. By the year 2100, there would only be about two percent (2 percent) less CO2 in the atmosphere—which would translate into an unmeasurably small difference in average global temperature. The math is pretty simple.

However you slice it, CCS is an expensive futility and greenwashing boondoggle masquerading a policy alternative for managing the climate hysteria via technology. The totalitarians who wish to gain political power and control over our lives through climate regulations wouldn’t settle for it even if it did work.

Why Republicans continually need to be reminded of this latter point is a mystery. It would be great if they could capture that reality and store it in their heads.

Steve Milloy publishes JunkScience.com, served on the Trump EPA transition team and is the author of “Scare Pollution: Why and How to Fix the EPA.”

via JunkScience.com

https://ift.tt/2uFtcpr

February 12, 2020 at 04:41PM