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WARREN BUFFETT Rejects All-Renewable Future With $10 Billion Bet on Oil & Gas

STOP THESE THINGS

Australian voters just shredded the notion that the proletariat is wedded to heavily subsidised and chaotically intermittent wind and solar.

Labor’s Bill Shorten sought to ram a 50% Renewable Energy Target down voter’s throats; a concept which the vast majority of them duly rejected.

Sure, there were plenty of other issues that sank the Green/Labor Alliance. However, it should be remembered that 2019 was billed as the ‘Climate Change Election’, with wind and solar pitched up as the only panacea to what has now become a ‘climate emergency’.

Pundits professed, with great certitude, the notion that the Australian public just can’t get enough intermittent, unreliable and unaffordable electricity. Well, that didn’t quite pan out. Bill Shorten slunk off the political stage, a wounded and embittered hero of renewable energy zealots and rent seekers, alike.

Another part of the meme was that the markets had already turned their back on fossil…

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WITHOUT Access To Massive Taxpayer Subsidies There Would Be No “Green Energy Revolution”

Screen Shot 2018-02-18 at 12.48.38 pm


ONE of the great propaganda lines of the climate change industry is the boom in ‘green energy jobs’ meme.

TAKE this example out of The Daily Advertiser:

Renewable energy: powering Australia in more ways than one

NO one would deny that job creation is a good thing especially in regional centres and remote locations in Australia. Areas with often high rates of unemployment and limited opportunity.

BUT, where the ‘green energy jobs’ argument falls down is not only in the longevity of the  full-time jobs available after installation, but in the fact that these jobs are a direct result of green central planning. Green jobs are like ‘Fiat money’ – a currency without intrinsic value established as money, often by government regulation.

WITHOUT massive government subsidies, estimated at $60 BILLION by 2030 under the Australian government’s RET (Renewable Energy Target), their would be no ‘green’ jobs as advertised by The Daily Advertiser. The private sector simply will not invest in weather-dependent ‘energy’ sources when in competition with cheap, efficient, reliable base-load sources like coal and gas on a dollar-for-dollar or subsidy-equalised basis.

Warren Buffet sums it up nicely:

“We get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.” – Warren Buffett

TELLINGLY, the piece by James Wright (chief executive officer of the Future Business Council) in The Daily Advertiser not once mentions the private sector as a direct player in the ‘green jobs boom’. His argument relies solely on government and politicians:

Policy uncertainty due to ongoing internal squabbles in the Federal Government is strangling the growth of this sector…”

“If politicians could simply commit to a modest and achievable 50 per cent renewable energy target, this would create 28,000 new jobs…”

“we can’t let backwards politics spoil this once in a generation opportunity…”

BEWARE The Big Government Blob!

WE only have to look at Germany’s €TRILLION green energy disaster – Energiewende – that has trashed the German economy, destroyed her industrial heartland and left hundreds of thousands of German’s disconnected from the grid, unable to pay their power bills.

GREEN central planning like economic planning of failed socialist regimes gone by is doomed for failure. Market distorting policies that pick winners only work until the money runs out.

THIS is the intrinsic problem faced when big government and statist green central planning displaces the commercial sector. Market mechanisms are eliminated, the very mechanisms that promote checks and balances and ensure accountability to make sure stuff works.

THE “green” energy revolution with its touted “green jobs” is largely survived by rent-seeking corporations entering the “save the planet” sector in pursuit of the lucrative government funds, grants and subsidies on offer, supported pro bono by the virtue-signalling, “save the planet” mainstream media.

GREEN JOBS?

WHAT is set to be Australia’s largest wind farm will provide only 20 full-time jobs once it goes into ­operation next year…

Australia’s biggest wind farm to generate just 20 full-time jobs

“Renewables are a welcome part of the energy mix but they don’t sustain long-term jobs or provide baseload power,” said Opposition Leader Deb Frecklington.

“Renewables are a welcome part of the energy mix but they don’t sustain long-term jobs or provide baseload power,” said Opposition Leader Deb Frecklington.

What is set to be Australia’s largest wind farm will provide only 20 full-time jobs once it goes into ­operation next year.

Construction started yesterday on AGL’s $850 million ­Coopers Gap wind farm at Cooranga North, 250km west of Brisbane, 10 years after it was proposed. The state government, which is committed to a 50-50 split between renewable energy and fossil fuel energy production by 2030, has endorsed the project, with Energy Minister Anthony Lynham turning the first sod.

Two hundred jobs will be created during construction of the 123-turbine, 453 megawatt facility, which will provide enough power for 260,000 homes.

—-

During the election campaign in November, Premier Annastacia Palaszczuk spruiked her clean energy policy at the under-­construction Clare Valley Solar Farm in north Queensland — a project that will employ up to 350 people during construction, but offer only five to 10 jobs once ­operational.

Australia’s biggest wind farm to generate just 20 full-time jobs | The Australian

PUFF PIECE ADVICE

ADVICE to marketers of the unreliable-energy jobs ‘revolution’. May I suggest lobbying the private sector and extolling the virtues of so-called “cheap, clean and green” energy to them, rather than writing propaganda, puff pieces in the daily rags and insulting the intelligence of your audience…the ones who now have to pay the highest power prices in the world thanks to the unreliable energy ‘revolution’!

DO let me know if any private sector orgs will take up an investment opportunity in the unreliabels sector without access to the $60 Billion taxpayer-funded RET…

H/t 

Unreliable-Energy-Hell Australia related :

 

ENERGIEWENDE Related :


Why Wind Power is the Greatest Economic & Environmental Fraud in History

“The collusion between wind energy and government disgusts me. If the Federal Production Tax Credit for wind energy didn’t exist, you would not see another industrial wind energy turbine built. As Warren Buffet said.

“Whether they keep making electricity or not, these gigantic steel and concrete structures will be there for generations, monuments to the greed of a few in a short-sighted land rush to hurry up and get them built and collect their profits off the backs of taxpayers before Uncle Sam wises up and shuts off this gravy train.”

OTHER comments from warmist notables on unreliables:

“We get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.” – Warren Buffett

“Suggesting that renewables will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.” – James Hansen (The Godfather of global warming alarmism and former NASA climate chief)

“Renewable energy technologies simply won’t work; we need a fundamentally different approach.” – Top Google engineers

STOP THESE THINGS

When called upon the think of certainties, gravity springs to mind (at least on earth). Although, for the wind industry it does tend to deliver harsh results – see above, yet another fatal collapse, this time in Lincoln, Nebraska.

Another certainty, is that once people tackle the facts, they turn against wind power with a vengeance. Tom Brewer is a Senator from Nebraska who has not just turned on the wind industry, he is determined to destroy it. Here he is doing just that, a couple of months ago.

Brewer at the Legislature: Wind energy is testament to greed  
North Platte Bulletin
Sen. Tom Brewer
22 August 2017

I went to a meeting about Wind Energy in Mitchell, S.D. this week. There, I met representatives from more than a dozen South Dakota counties, a member of the South Dakota legislature, county commissioners and nearly that many people from Nebraska.

While…

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Warren Buffet: Climate Not Impacting the Insurance Business

Hasn’t he changed his tune since admitting that catastrophic climate predictions are great for the reinsurance business:

From a previous post:

Climate change alarmism is big business for ‘reinsurance’ billionaire Warren Buffett. But he doesn’t believe in it:

– Warren Buffett: “The public has the impression, because there has been so much talk about climate, that the events of the last ten years have been unusual…they haven’t!

– Warren Buffett: “We’ve been remarkably free of hurricanes in the last five years [Now eleven years or 4003 days]. If you’ve been writing hurricane insurance it’s been all profit.”

– Warren Buffett: “I love apocalyptic predictions, because … they probably do affect rates…”

– Warren Buffett: “we get a tax credit if we build a lot of wind farms. That’s the only reason to build them.”

https://climatism.wordpress.com/2014/03/05/climate-change-alarmism-is-big-business-for-billionaire-buffett/

Watts Up With That?

2016-hurricane-drought

Guest essay by Eric Worrall

Warren Buffet has repeated his inconvenient message from last year, that climate has not affected his insurance business – though he is concerned about future climate change.

Warren Buffett says global warming is not impacting the way Berkshire writes insurance

Tom DiChristopher
Monday, 27 Feb 2017 | 3:34 PM ET

Berkshire Hathaway CEO Warren Buffett on Monday said he has not yet seen sufficient evidence that climate change is affecting weather events to a degree that would make him change the way his conglomerate’s insurance businesses write policies.

Events such as Hurricane Sandy have raised concerns that global warming is increasing the intensity and frequency of so-called superstorms.

“I have not seen anything yet that would cause me to change the way we look at evaluating quakes, tornadoes, hurricanes by atmosphere. Now, that may happen some day,” he told CNBC’s “Squawk Box.”

Research shows…

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Climate Change Alarmism Is Big Business For Billionaire Buffett

The only way to get our society to truly change is to
frighten people with the possibility of a catastrophe
.”
– emeritus professor Daniel Botkin

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Warren Buffett: “I love apocalyptic predictions, because … they probably do affect rates…”

•••

Warren Buffett on why Climate Change Alarmism means big business for his re-insurance business:

Interviewer: How has the latest rise of extreme weather events changed the calculus on Ajit Jain in reinsurance?

Warren Buffett: “The public has the impression, because there has been so much talk about climate, that the events of the last ten years have been unusual. …They haven’t. We’ve been remarkably free of hurricanes in the last five years. If you’ve been writing hurricane insurance it’s been all profit.”

Warren Buffett: “So far the effects of climate change, if any, have not affected… the insurance market. It has made no difference. I calculate the probabilities in terms of catastrophes no differently than a few years ago… that may change in ten years.”

Warren Buffett: “I love apocalyptic predictions, because … they probably do affect rates…”

Warren Buffett: “Writing US hurricane insurance has been very profitable in the last five or six years… now the rates have come down and we’re not writing much, if anything, on Hurricanes in the US at all. The biggest cat risk right now.. I think is earthquakes in New Zealand.”

See Full interview here »

H/t to Jo Nova

•••

Barack Obama likes Climate Change Alarmism too, because “Under my plan…electricity rates would necessarily skyrocket”


Obama: My Plan Makes Electricity Rates Skyrocket | Climatism

•••

EXTREME WEATHER FACTS and DATA :

No Major Atlantic Hurricane Strike For A Record 8 Years (category 3-5)  

Dr Roger Pielke Jr has updated his famous hurricane drought to the start of the 2014 season. Concluding that by June 2014 it would have been a record 3,142 days or 8.6 years since the US has been hit by a Cat 3 or greater hurricane.

The last such hurricane was Wilma on October 24th, 2005.

Hurricanes are actually getting not worse, but fewer.

229a8-daysbtcat3plus2014
Roger Pielke Jr.’s Blog: Graphs of the Day: Major US Hurricane Drought Continues

Data here.

The US good luck with respect to hurricane landfalls — yes, good luck — continues. The graph below shows total US hurricane landfalls 1900 through 2013.

uslandfalls1900to2013

The five-year period ending 2013 has seen 2 hurricane landfalls. That is a record low since 1900. Two other five-year periods have seen 3 landfalls (years ending in 1984 and 1994). Prior to 1970 the fewest landfalls over a five-year period was 6. From 1940 to 1957, every 5-year period had more than 10 hurricane landfalls (1904-1920 was almost as active).

The red line in the graph above shows a decrease in the number of US landfalls of more than 25% since (which given variability, may just be an artifact and not reflecting a secular change). There is no evidence to support more or more intense US hurricanesThe data actually suggests much the opposite.

If you are interested in a global perspective, Ryan Maue keeps excellent data. Here is his latest graph on global ACE (accumulated cyclone energy, an overall measure of storm intensity).

global_running_ace

To date 2013 is at 73% of the global average and the North Atlantic is at 30%. We’ll post up our updated data for global landfalls through 2013 before the end of the calendar year.

•••

On Extreme Weather Events – Roger Pielke Jr, December 10, 2012 :

…After adjusting for patterns of development, over the long term there is no climate change signal … of increasing damage from extreme events either globally or in particular regions.

worddisgdp

Roger Pielke Jr.’s Blog: Graph of the Day: Global Weather Disasters and GDP

•••

ATLANTIC hurricanes are actually getting not worse, but fewer. Grover Cleveland, who was president between 1885 and 1889, had 27 major hurricanes during his presidency. Only three major hurricanes have made landfall during Obama’s tenure thus far.

Obama HURRICANES

http://www.aoml.noaa.gov/hrd/hurdat/All_U.S._Hurricanes.html

•••

Australian Tropical Cyclones are decreasing in frequency and Intensity :

Peer Review Study: Reconstructing tropical cyclone frequency using hydrogen isotope ratios of sedimentary n-alkanes in northern Queensland, Australia – ScienceDirect.com

Findings:

“This suggests that on average tropical cyclone frequency did not change during the past 200 years.”

BOM Tropical Cyclone trends are down with less frequency and severity:

tc-graph-1969-2012

Tropical Cyclone Trends – BoM

See also : Australia has lowest number of tropical cyclones in 1500 years? « JoNova

•••

2013 witnessed the slowest Tornado season on record in the United States

Screen Shot 2014-03-05 at , March 5, 6.32.57 pm

http://www.spc.noaa.gov/wcm/torngraph.png

•••

See also : 

Climatism Related :