Global warming, climate change, all these things are just a dream come true for politicians. I deal with evidence and not with frightening computer models because the seeker after truth does not put his faith in any consensus. The road to the truth is long and hard, but this is the road we must follow. People who describe the unprecedented comfort and ease of modern life as a climate disaster, in my opinion have no idea what a real problem is.
A multi-millionaire Hollywood director who funds Just Stop Oil has a holiday home in Ireland – 5,000 miles from Los Angels – that he jets off to when he needs a break. The Daily Mail has more.
A multi-millionaire Hollywood director who funds Just Stop Oil has a holiday home in Ireland – 5,000 miles from Los Angels – that he jets off to when he needs a break. The Daily Mailhas more.
A Hollywood director helping to bankroll Just Stop Oil has been accused of hypocrisy over his lavish holiday home in Ireland – 5,000 miles from his Los Angeles base.
Oscar winner Adam McKay, whose films include The Big Short and Don’t Look Up, is one of a group of multi-millionaires behind the Climate Emergency Fund.
The Beverly Hills-based fund raises cash from its mega rich supporters and distributes it to ‘disruptive’ activists, including handing almost £1million to help Just Stop Oil wreak havoc in the U.K.
Mr. McKay is a director of the fund and has donated over £3.2 million to it to support “recruitment and training” for groups including the British activists.
In a webinar last year he pledged to help Just Stop Oil in any way possible and was even prepared to be arrested for their cause.
Despite his financial commitment to environmentalism the director, who owns a £6 million Los Angeles home, has described how he holidays in his eight-bedroom second home in rural Ireland.
A 2020 Architectural Digest interview with Mr McKay and his wife, fellow writer-director Shira Piven, described how “when the going gets tough” the couple “take refuge in their 12-acre getaway in the Celtic countryside”.
Details of his holiday home emerged as Just Stop Oil zealots were last week branded “absolute morons” for permanently damaging a sustainable garden at the Chelsea Flower Show by hurling orange powder paint over it.
The group were also criticised for a series of go-slow marches in London this week which caused mayhem for commuters – and on one occasion led to a workman being handcuffed by police as he tried to move them.
The Climate Emergency Fund launched in 2019 after the three founders’ multi-million-pound homes in the exclusive Californian ocean-front city of Malibu nearly burnt down in bush fires which they blamed on climate change.
These included Aileen Getty, the granddaughter of billionaire oil tycoon Jean Paul Getty, and Rory Kennedy who is the daughter of Senator Robert Kennedy.
The third founder, investor Trevor Neilson who is listed as owning a £2.1 million home in Malibu, said they wanted to support “disruptive activists” after becoming disillusioned by the slow approach of traditional environmental groups.
Edward Ring writes at American Greatness The Corruption of Climate Science. Excerpts in italics with my bolds.
Instead of fighting anti-civilization lunacy, corporations are taking their money off the table, along with their life-affirming affordable fuel.
We need to criticize the people who got us here,” says Alex Epstein, founder of the Center for Industrial Progress and author of Fossil Future. “We can’t keep treating these designated experts as real experts. They are not real experts, they are destroyers. They are anti-energy, non-experts. And that needs to be made clear.”
Epstein is right, and his advice has never been more urgent—or as difficult to make people understand. It is no exaggeration that every major institution in America has now committed itself to the elimination of affordable and abundant energy. If it isn’t stopped, this commitment, motivated by misguided concern for the planet but also by a lust for power and money and enabled by moral cowardice and intellectual negligence, will destroy Western civilization.
For over 50 years, with increasing frequency, corrupted, careerist scientists have produced biased studies that, amplified by agenda-driven corporate and political special interests, constitute a “consensus” that is supposedly “beyond debate.” We are in a “climate crisis.” To cope with this climate emergency, all measures are justifiable. This is overblown, one-sided, distorted, and manipulative propaganda.
It is the language of authoritarians and corporatists bent on achieving even more centralized political power and economic wealth.
It is a scam, perhaps the most audacious, all-encompassing fraud in human history. It is a scam that explicitly targets and crushes the middle class in developed nations and the entire aspiring populations in developing nations, at the same time as its messaging is designed to secure their fervent acquiescence.
What is actually beyond debate is not that we are in a climate crisis but that if we don’t stop destroying our conventional energy economy, we are going to be in a civilizational crisis.
Energy is the foundation of everything—prosperity, freedom, upward mobility, national wealth, individual economic independence, functional water and transportation infrastructure, commercial-scale agriculture, mining, and industry. Without energy, it all goes dark. And “renewables” are not even remotely capable of replacing oil, gas, coal, nuclear, and hydroelectric power. It’s impossible.
The only people who think renewables are capable of replacing conventional energy are either uninformed, innumerate, or corrupt. Period.
But to cope with the apocalyptic messaging of climate catastrophists, it isn’t enough to debunk the potential of renewables. It is also necessary to challenge the underlying climate “science.” The biased, corrupt, unceasing avalanche of expert “studies” serving up paid-for ideas to special interests that use them as bludgeons to beat into the desired shape every relevant public policy and popular narrative. So here goes.
Biased, Flawed Studies
A new study, released May 16, deserves far more criticism than it’s going to get. Authored by seven ridiculously credentialed experts and primarily affiliated with the leftist Union of Concerned Scientists, this study has the rather innocuous title: “Quantifying the contribution of major carbon producers to increases in vapor pressure deficit and burned area in western US and southwestern Canadian forests.” Bursting with charts and equations, and too many links to corroborating sources to count, the study has all the accouterments of intimidating credibility. But serious questions may be raised as to its logic as well as its objectivity.
For starters, this study doesn’t restrict itself to “Quantifying the contribution of major carbon producers to increases in vapor pressure deficit.” The authors can’t resist attacking these “major carbon producers.” In this revealing paragraph, the study’s true intent becomes apparent: it is fodder for litigation.
To explain what the authors got wrong, it is first necessary to summarize what they did. In plain English, the authors claim that hotter summers in recent years have caused more severe forest fires in the western United States, and fossil fuel emissions are causing the hotter summers. That’s it.
But what if it isn’t just heat, but dry heat, that is unprecedented today? What if the “vapor pressure deficit” is worse today than it has been at any time in 20 million years? That is a huge assumption, probably impossible to verify. Even if it’s true, it doesn’t make up for the study’s other flaw, which is the density of forests in California today, which is truly unprecedented. The study’s authors acknowledge they don’t take this variable into account.
In California, wildlife biologists and forest ecologists who spend their lives studying and managing these timberlands unanimously agree that tree density has increased, thanks to “non-climatic factors such as the prohibition of Indigenous burning, and legacies of fire suppression.” The increase is not subtle. Without small, naturally occurring fires that clear underbrush and smaller trees, forests become overgrown. Controlled burns and responsible logging are absolutely necessary to maintain forest health.
This is not an isolated finding. Observations of excessive tree density are corroborated by numerous studies, testimony, and journalistic investigations. Unlike the subjectively defined algorithms plugged into a climate model, excessive tree density is an objective fact, verified repeatedly by people on the ground. To imply by omission that more than tripling the density of trees across millions of acres of forest would not leave them stressed and starved for soil nutrients, sunlight, and water from rain and atmospheric moisture is scientific malpractice.
Without taking these additional factors into account, it is deceptive to indict fossil fuel emissions for causing wildfires.
Perhaps some indirect connection can be established of debatable relevance, but for this study to assign specific percentages and acreages suggests a premeditated purpose: creating material for expert testimony for litigation against oil companies.
The monolithic alignment of the scientific and journalistic community in support of an authoritarian, utterly impractical “climate” agenda reveals a misunderstanding if not outright betrayal of scientific and journalistic core values. Both disciplines are founded on the bedrock of skepticism and debate. Without nurturing those values, the integrity of these disciplines is undermined. When it comes to issues of climate and energy policy in America, science and journalism are compromised.
Carbon Fuel Industry Fails to Step Up
The real crime, if you want to call it that, isn’t that oil and gas companies questioned climate change theories back in the 1960s or ’70s. It’s that they’re accepting them now.
Oil and gas companies today are not willing to challenge the climate crisis orthodoxy, or the myth of cost-effective renewables at scale. They aren’t willing to devote their substantial financial resources to debunking this agenda-driven madness that is on the verge of taking down our entire civilization. The fact that America’s oil and gas companies have adopted a strategy of appeasement is a crime against humanity. The fact that these companies are failing to make long-term investments to develop new oil and gas fields, and instead are reaping windfall profits as they sell existing production at politically inflated prices, that, too, is a crime against civilization.
Ultimately, the Union of Concerned Scientists and the major oil companies are complicit in the destruction of America’s energy economy.
Because rather than declaring total war on these paid-for, flawed scientific studies and the special interests that fund them, oil companies will engage in theatrical litigation, knowing that the cost of settlements won’t even come close to the short-term profits to be had by slowly asset stripping their companies while selling diminishing quantities of fuel at punitive rates.
Epstein is right that we must criticize the “experts” that want to destroy human civilization with climate alarmism. But we must also recognize and criticize the institutions targeted for destruction. Instead of fighting this lunacy, they are taking their money off the table, along with their life-affirming affordable fuel, and heading for the hills.
Another reminder that wildfires are often started by humans, whether deliberately or not:
The fire service was called to Bourne Valley nature reserve for the fourth and fifth times in three days on Tuesday, May 23 with fires tearing across the beauty spot on Sunday and twice on Monday.
The first call of Tuesday afternoon came at 4.54pm.
Crews from Redhill Park, Westbourne and two from Poole attended the scene in the nature reserve with a small 4×4 pumping appliance.
The fire covered an area of approximately 20 x 30 metres, and it was extinguished with hose reel jets, the small pumping appliances and beaters.
It was put out at 5.31pm, before another call was made to the service shortly after 8pm.
Crews from Westbourne and two from Poole attended this fire, along with another small 4×4 pumping appliance and a water carrier from Ringwood.
The second fire covered an area of around 30 x 20 metres.
It was extinguished half an hour after the call came, at 8.32pm, using hose reel jets and a high-pressure bar.
Dorset and Wiltshire Fire and Rescue Service confirmed that it is working with Dorset Police as they believe the fire was started deliberately.
The police confirmed they are investigating the spate of fires and warned of the “devastating consequences” that the fires have on communities.
Inspector Nick Lee of Poole Neighbourhood Policing Team said: “We want to send a clear message that this type of behaviour is unacceptable.”
In Episode 362 of District of Conservation, Gabriella discusses the reintroduced Bipartisan America’s Outdoor Recreation Act and why it’ll boost outdoor recreation opportunities in the U.S. Tune in to learn more.
“Wyoming is home to some of the most incredible national parks and public lands in the country.Our bipartisan bill will increase and improve outdoor recreation opportunities. It will modernize public campgrounds, establish shooting ranges on federal forests, and ensure increased access to public lands. America’s Outdoor Recreation Act will benefit everyone who enjoys the outdoors in Wyoming and across the nation.” — Senator John Barrasso, Senate Energy and Natural Resources Ranking Member
In Episode 362 of District of Conservation, Gabriella discusses the reintroduced Bipartisan America’s Outdoor Recreation Act and why it’ll boost outdoor recreation opportunities in the U.S. Tune in to learn more.
In Episode 579 of District of Conservation, Gabriella discusses the permitting reform bill – aka BAAJA – that is gaining traction in Congress now. The Senate will hold a cloture vote starting at 3:30pm ET in a motion to proceed. Gabriella discusses the status quo without permitting reform, how BAAJA is good for the environment and affordability. Tune in!SHOW NOTESBipartisan Policy Center: BAAJA ExplainerEstimating the US Energy System Impacts of the Bipartisan American Affordability and Jobs Act
“At its worst the reality is, or the fear is that the World Health Organisation will have the powers to be able to say ‘such and such state … is in a pandemic and situation and must be locked down’, even if that entity says, ‘no, we’re not’ or disputes it,” Mr Dean said.
Sky News host Rowan Dean says the World Health Organization is “desperate to have some kind of global pandemic treaty” to give them a greater say during a pandemic crisis.
“At its worst the reality is, or the fear is that the World Health Organisation will have the powers to be able to say ‘such and such state … is in a pandemic and situation and must be locked down’, even if that entity says, ‘no, we’re not’ or disputes it,” Mr Dean said.
An excellent talk for you guys this evening, which fully explains all of the lunacy we are experiencing – since the major kickoff signal in March 2020.
Welcome to The Great Reset – fully explained!
An excellent talk for you guys this evening, which fully explains all of the lunacy we are experiencing – since the major kickoff signal in March 2020.
Welcome to The Great Reset – fully explained!
Please support/subscribe to the Heartland Institute – all their links are in the description box for the original video here: • Marc Morano Demol…
As California invests heavily in wildfire prevention, having witnessed the destructive impact of wildfires over the past years, the impending challenge to the goat-grazing industry could undermine these efforts significantly.
Scattered across the California landscape, hundreds of goats represent a unique and natural strategy for wildfire prevention. The ruminant animals are employed to munch on potentially hazardous vegetation — grass, shrubs, and weeds that could fuel dangerous wildfires. Jason Poupolo, parks superintendent for the city of West Sacramento, affirms,
“It’s a huge fuel source. If it was left untamed, it can grow very high. And then when the summer dries everything out, it’s perfect fuel for a fire.”
These goats have become invaluable partners in wildfire prevention due to their ability to graze in hard-to-reach, steep terrains and consume a wide variety of vegetation. This process, known as ‘targeted grazing,’ is being hailed as an eco-friendly alternative to chemical herbicides and noisy, polluting weed-whacking machines.
However, recent changes in state labor regulations are posing a threat to this innovative wildfire prevention strategy. These new rules, which raise the monthly salary of herders from about $3,730 to a daunting $14,000, according to the California Farm Bureau, have put the future of the goat-grazing industry in jeopardy.
Tim Arrowsmith, owner of Western Grazers, provides a grim prediction of what the new regulations could mean for his business:
“Without a fix to the new regulations, we will be forced to sell these goats to slaughter and to the auction yards, and we’ll be forced out of business and probably file for bankruptcy.”
His company, which manages around 4,000 goats, provides crucial grazing services to government agencies and private landowners across Northern California, demonstrating the considerable scale of this looming crisis.
One of the contentious issues is that goatherding jobs necessitate round-the-clock availability, leading to herders being paid a monthly minimum salary rather than an hourly wage. However, legislation signed in 2016 extended overtime pay rights to these herders, increasing the minimum monthly pay and further escalating the operational costs for herding companies.
From January, these labor costs are slated to rise again sharply, as a state agency has decreed that goatherders should no longer follow a separate set of labor rules, but rather be subject to the same labor laws as other farmworkers. This would elevate goatherders’ pay even higher, possibly reaching up to $14,000 a month. These changes, according to goatherding companies, would make providing goat-grazing services untenable, leading to a potential collapse of this sector.
Arrowsmith notes the dire implications of this regulatory overhaul, stating,
“I can’t pay $14,000 a month to an employee starting Jan. 1. There’s just not enough money. The cities can’t absorb that kind of cost. What’s at stake for the public is your house could burn up because we can’t fire-mitigate.”
As California invests heavily in wildfire prevention, having witnessed the destructive impact of wildfires over the past years, the impending challenge to the goat-grazing industry could undermine these efforts significantly.
Dr Mike McCulloch has been making truly remarkable discoveries about some of the mysteries of the cosmos over the last two decades. He has answers to fundamental questions such as ‘what causes the force that resists the change in speed and direction of any mass?’, ‘why do observations indicate that the inertial force varies with acceleration in the outer reaches of galaxies?’
Dr Mike McCulloch has been making truly remarkable discoveries about some of the mysteries of the cosmos over the last two decades. He has answers to fundamental questions such as ‘what causes the force that resists the change in speed and direction of any mass?’, ‘why do observations indicate that the inertial force varies with acceleration in the outer reaches of galaxies?’ and ‘how can we tap into the implicated energy fields to generate propellant-less thrust, and potentially generate electrical energy to power our homes, industries and vehicles?’. His published papers cover the first two of these questions, and touch on the third, although there’s plenty more to be teased out of the implications of his Quantised Inertia theory. The third question is the acid test.
Mike believes science has to have practical, applicable results, and for the last few years, he has been successfully generating those at his lab in Plymouth University, funded by DARPA. He has been getting measurable thrust from purely electrical input. Other collaborating labs have similar results. Exciting times indeed.
But like many scientists who threaten the established and accepted theory in their field, his work has been largely ignored because it falsifies mainstream ‘dark matter’ theory, or dismissed because it ‘must be impossible’. Although he has got measurable results, DARPA funding is ending, and he has no more teaching work to return to at Plymouth University. Mike wants, as far as possible, to keep the ongoing developments of QI publicly accessible, by crowdfunding. He needs our help to fund and equip a new lab, and set up a ‘Horizon Institute’, online initially, to enable the collaboration of academics and citizen scientists. Please read his message below, and then I’ll let you know how you can help.
For seventeen years I have been proposing, and publishing peer reviewed papers and books on, a new theory of inertial mass, called quantised inertia, which explains inertia using an elegant interaction between horizons and the quantum background. It also accurately predicts galaxy rotation, and the orbital motion of wide binary stars and globular clusters, without the need for ‘dark matter’ to account for observations.
A few years ago it also became clear that quantised inertia predicts a way to generate thrust without propellant: by putting a synthetic horizon in the vacuum: horizon drives. For the past four years I have been funded by DARPA to test this and we have identified a practical method using capacitors (suggested by engineers Becker & Bhatt). We have seen thrust in our lab at Plymouth University and three other collaborating labs around the world have also measured thrust. We are writing a paper on the results.
These new horizon drives outperform the ion drives used on modern satellites, and without the need to carry heavy fuel (propellant). This will revolutionise the satellite industry making satellites cheaper, silent, and long-lasting. It also offers us, for the first time, a way to get to Proxima Centauri in less than 15 years, or the Oort cloud in one.
So far, the observed thrust is small, though already more efficient than ion drives, but quantised inertia theory predicts ways to greatly enhance it and also develop other applications. Unfortunately, the DARPA funding was only promised for four years and it runs out in July. Further, with brilliant timing, my university has decided to make me redundant. I brought myself out of teaching to focus on the DARPA work for four years, and in the meantime the geomatics courses I used to teach have shrunk.
We need funding for an office/lab at Plymouth Science Park to continue our work on the horizon drive, enhance it and work on other applications.
Thank you for your help Mike McCulloch.
40 minute presentation from Mike McCulloch on Quantised Inertia theory and applications.
As you know, I rarely make funding appeals at the talkshop, I can think of two in the last ten years. Mike has asked me to join his team and take on organising and fundraising work. Many years ago I raised £250,000 for the Yorkshire Air Ambulance Charity to get the deposit down on a second helicopter. With the way people’s energy bills are going, this may turn into a life-saving mission too. Beyond our initial aim, to make a viable satellite thrust device, we want to reinvest proceeds from that commercial effort into making interstellar travel, and cheap, fuelless energy production possible, for everyone. They say you should always aim high: we’re aiming for the stars.
Please join us on this journey, and donate what you can to get us kick-started. Initially, we’d like to raise enough money to fund the cost of the new lab at Plymouth Science Park for a year, equip it, and get the Horizon Institute up and online. Around £8000 will cover that. Let’s see if we can get there.
If you’d like to help, you can use the ‘Donate’ button at the top of the left column to chip in. If you don’t wish to use Paypal, please say so in a comment below and I’ll contact you via the email you use for your WordPress account. I’ll keep this post at the top of the blog for a while, and keep you updated on progress.
If you’d like to see more of the inside track on quantised inertia (QI), and help Mike in a personal way now he’s losing his employment, you could also join his Patreon group, where he regularly posts on QI and other relevant science that will interest readers.
Thank you for your consideration. Let’s do this. Rog TB.
A CBS News Philidelphia segment on hurricanes claims that climate change will cause increase in hurricanes making landfall on the U.S. Atlantic and Gulf Coasts. This claim is unsubstantiated and undermined by the available evidence. Rather than citing data or the science provided by the U.N. Intergovernmental Panel on Climate Change, CBS anchor David Schechter cites model projections for his claims. The past few decades of warming have yielded no increase in hurricane landfalls, quite the opposite.
A CBS News Philidelphia segment on hurricanes claims that climate change will cause increase in hurricanes making landfall on the U.S. Atlantic and Gulf Coasts. This claim is unsubstantiated and undermined by the available evidence. Rather than citing data or the science provided by the U.N. Intergovernmental Panel on Climate Change, CBS anchor David Schechter cites model projections for his claims. The past few decades of warming have yielded no increase in hurricane landfalls, quite the opposite.
Aside from claiming climate change will make landfalling hurricanes more frequent on the Atlantic and Gulf coasts, Schechter also claims that scientists are “certain” that hurricanes are getting stronger.
Warming ocean temperatures are pointed to as the main cause of alleged stronger hurricanes, but sea temperatures are only one factor in driving hurricane formation and strength. Another major factor is wind shear. Many hurricane researchers predict that global warming will likely increase wind shear, which will inhibit the formation of hurricanes and cause them to dissipate or become disorganized faster, despite an increase in water temperature.
Despite a slow warming over the past few decades, data refutes assertions that hurricanes have become stronger than they were in the past. In fact, evidence suggests the opposite is true. One measure of tropical cyclone strength, Accumulated Cyclone Energy, shows no increase over time in the Northern Hemisphere, or the globe at large over the past decades of modest warming. (See Figure below)
Regarding hurricane landfall numbers, the claim that they will increase in the future is similarly speculative. Schechter interviewed Dr. Kristen Corbosiero, a professor at the State University of New York in Albany, who acknowledged that data does not point to an increase in the number of future hurricanes. Yet, he and Schechter then pointed to a single study published in Science Advances which projects possible hurricane increases based on climate model projections. However, as Climate Realism has previously explained, here, here, and here, for instance, climate models seriously flawed, producing projections that have consistently failed to materialize in the real world.
Indeed, real world data on hurricane landfalls show that they have been much less frequent in recent decades than in the past. Climate at a Glance: Hurricanes explains that the U.S. “went more than a decade (2005 through 2017) without a major hurricane—a hurricane measuring Category 3 or higher—making landfall. That is the longest such period in recorded history.” Florida itself went 11 years without a single landfalling hurricane of any size until 2016.
Again, available data plotting major U.S. hurricane landfalls show no increasing trend. (See figure below)
Figure 2: Number of continental United States landfalling hurricanes 1900–2019. Left, all hurricanes, right, major hurricanes (category 3 and above), with (insignificant) regression lines, (Klotzbach et al., 2018), with 2018–20 updated from personal communication by Anthony Watts with lead authors.
And the data suggests that the number of major hurricanes has modestly decreased globally, in recent decades. (See figure 3 below)
Climate Realism has debunked the false claims on hurricanes dozens of times, but it is worth pointing out once again that even the United Nations Intergovernmental Panel on Climate Change says there is only “low” confidence that any changes in tropical cyclone activity can be attributed to human influence, and admits that it has detected no trend of increasing hurricane numbers or intensity.
Neither the unalarming available data, nor the IPCC’s findings, prevent the media from using one of the most destructive natural events in the world—tropical cyclones—to stoke alarm about the future under modest warming. Coastal cities, like Philadelphia, are wise to prepare for hurricanes. However, despite Philly’s CBS News unsubstantiated claims, they need not fear such terrible weather events now any more than they have in the past.
Linnea Lueken is a Research Fellow with the Arthur B. Robinson Center on Climate and Environmental Policy.
While she was an intern with The Heartland Institute in 2018, she co-authored a Heartland Institute Policy Brief “Debunking Four Persistent Myths About Hydraulic Fracturing.”
Plenty of talk but not very much action, it seems. The author notes that ‘the small size of hydrogen molecules poses safety and greenhouse gas-related risks that must be mitigated’, while most current gas grids can’t cope with more than 20% hydrogen content anyway. Affordability looks at least questionable. Such issues will require years of effort and expense to even attempt to get to grips with.
Plenty of talk but not very much action, it seems. The author notes that ‘the small size of hydrogen molecules poses safety and greenhouse gas-related risks that must be mitigated’, while most current gas grids can’t cope with more than 20% hydrogen content anyway. Affordability looks at least questionable. Such issues will require years of effort and expense to even attempt to get to grips with. – – – The global discourse on addressing climate change, energy transition, and investments is currently dominated by the topic of green hydrogen, says Dr. Cyril Widdershoven @ OilPrice.com.
The media frenzy surrounding the expanding array of projects, subsidy schemes, and international strategies is fueled by the influence of Washington’s IRA plans and the EU’s energy strategic projects.
It appears as if the choice for a post-hydrocarbon world has already been made, with green hydrogen or its derivative, green ammonia, emerging as the favored options. Western parties remain highly optimistic, as large-scale renewable energy initiatives are closely tied to these alternatives.
However, it is crucial to bring realism into the discussion. This aspect should be addressed sooner rather than later.
During the Qatar Economic Forum in Doha, Saudi Ministry of Energy Abdulaziz bin Salman highlighted the skepticism, stating, “People talk about hydrogen as the fuel of the future… but who is going to be the offtaker?”
Abdulaziz bin Salman emphasized that hydrogen lacks a clear market price, which inhibits its development. He questioned the prevailing discussions on various types of hydrogen, such as blue, green, purple, or pink, by emphasizing the need for identified offtakers and clear policies in this regard.
Amin Nasser, CEO of Saudi Aramco, previously stated that blue hydrogen costs $250 per barrel of oil equivalent (boe), which suggests that customers in the EU, Japan, or South Korea would not be willing to procure it at such prices.
Additionally, Bloomberg reported that despite the exponential growth of the green hydrogen project list, investors remain unconvinced about financing them.
Currently, there is a proliferation of hydrogen projects being proposed, but only a mere 7% of them have secured financing to commence construction. Bloomberg New Energy Finance has highlighted that this financing reality sharply contradicts the expectations set by the IRA and EU strategic plans.
Financial institutions remain highly skeptical about the feasibility of economically and affordably producing large volumes of green hydrogen.
According to some industry insiders who spoke to Bloomberg, while there are numerous project announcements, very few are actually being realized on the ground.
Sky News Australia
Ivor Cummins
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