The Global Net Zero Financial Cartel, Falling Apart

Less than three weeks ago, on December 23, in a post on optimism about the potential demise of the green energy fantasy, I took note that two of the largest U.S. banks had just quit something called the “Net Zero Banking Alliance.” The two were Goldman Sachs and Wells Fargo. These two banks, along with many others, including all of the biggest ones, had joined the NZBA as it was getting organized under auspices of the UN back in 2021.

From Manhattan Contrarian

By Francis Menton

Less than three weeks ago, on December 23, in a post on optimism about the potential demise of the green energy fantasy, I took note that two of the largest U.S. banks had just quit something called the “Net Zero Banking Alliance.” The two were Goldman Sachs and Wells Fargo. These two banks, along with many others, including all of the biggest ones, had joined the NZBA as it was getting organized under auspices of the UN back in 2021. NZBA, together with other related groups organized around the same time, aspired to be cartels of financial institutions that would save the planet by starving hydrocarbon fuels of all investment capital, while re-directing the money to the “green” energy transition. Now, shortly after the re-election of Donald Trump, two of the biggest banking giants had decided to exit. Could this be a sign that the zero-carbon green energy fantasy was losing its grip?

In the short 19 days since that post, the trickle of resignations from the NZBA and related groups has turned into an avalanche. In the blink of an eye, what once seemed a serious threat that hydrocarbon fuels could be snuffed out by a group boycott of investors has almost entirely gone away.

More on the latest developments later in this post. But first, some history of NZBA and the related alphabet soup of do-gooders.

2021 was the year that the UN’s big climate confab, known as the “Conference of Parties” or “COP,” was to be held in Glasgow, Scotland. Although the COPs are normally held every year, there had not been one in 2020 due to the Covid pandemic. After the year hiatus, COP-26 was ultimately held from October 31 to November 13, 2021. Boris Johnson, Prime Minister of the UK, who had converted from one-time climate skeptic to all-in alarmist, was determined to make this COP-26 the be-all and end-all of all COPs. The swarms of little aspiring tyrants in UN bureaucracies, just off their hugely successful Covid power grabs, were ready to flex their new muscles in the climate arena.

In the many months of preparations for the Glasgow conference, the UN got the bright idea of organizing all of the world’s big financial institutions into cartels to direct their capital to an “energy transition” and away from hydrocarbon fuels. To achieve this goal, in April 2021 there was formed an entity called the Glasgow Financial Alliance for Net Zero, or GFANZ. According to its website:

The Glasgow Financial Alliance for Net Zero (GFANZ) brings together leading financial institutions and other financial services sector participants who have individually decided to support the objectives of mobilizing capital and addressing the barriers companies face to scaling decarbonization. . .. GFANZ was founded to establish a forum for addressing and catalysing action toward the sector-wide challenges and opportunities associated with the net-zero transition.

The moving force behind this initiative appears to have been a guy named Mark Carney. Have you heard of him? Here is a picture of him from the GFANZ website:

Carney is a native Canadian, and a big-time guru in the central banking world: he was the Governor of the Bank of Canada from 2008 to 2013, and then promptly moved to become the Governor of the Bank of England from 2013 to 2020 (the first non-Brit to hold that position). Along the way, Carney became one of the top evangelists of the climate alarm religion. Upon leaving the Bank of England, he hopped over to the UN, where he got the highfalutin title of “Special Envoy on Climate Action and Finance.” According to its website, “GFANZ was launched in April 2021 by UN Special Envoy on Climate Action and Finance Mark Carney and the COP26 presidency to accelerate the transition to a net-zero global economy.”

Carney became the Chair of GFANZ. By the time of COP-26 in November 2021, Carney had also recruited to join him as Co-Chair none other than the ultimate climate hypocrite, Mike Bloomberg (of the seven houses and eight private aircraft). According to the GFANZ website, the two remain Co-Chairs today.

GFANZ was then instrumental in organizing a series of subsidiary groups divided by industry sector. Relevant to today’s post are the NZBA (formed contemporaneously with GFANZ in April 2021), and the Net Zero Asset Managers Initiative, NZAMI, which actually had been launched a little earlier in December 2020.

Both the NZBA and the NZAMI were rapidly successful in recruiting to their membership essentially all the biggest names in their industry sectors. The missions’ statements of the groups are written in a bureaucratic style that makes them difficult to understand, but it is clear at least that the idea is to stop the financing of the hydrocarbon fuel industry. For example, here is the first item of the “Commitment Statement” of the NZAB:

Transition the operational and attributable greenhouse gas (GHG) emissions from their lending and investment portfolios to align with pathways to net-zero by 2050 or sooner.

Which brings me to the latest developments: The exits from the NZAB of Goldman Sachs and Wells Fargo in early December quickly opened the barn doors for the other big players to rush out. On December 31, Reuters reported that Citibank and Bank of America had just quit the NZAB. Morgan Stanley announced its exit on January 2. JP Morgan quit on January 7. These six big banks among them have a market share of more than 25% of the entire U.S. banking industry.

And then, just yesterday, the largest asset manager in the country, BlackRock, quit the NZAMI. Of the three largest asset managers, another one, Vanguard, had already quit back in 2022. That leaves only State Street remaining, of the big three.

Meanwhile, in case you are wondering what is going on with Mark Carney, he appears to be a leading candidate for leader of Canada’s Liberal Party now that Justin Trudeau has quit. The CBC, in a piece yesterday, says that Carney has the backing of some 30 Liberal MPs. That would mean that Carney could become the next Prime Minister of Canada, should the Liberals win the election expected to be held some time this year. On the other hand, according to the latest polls, it looks like the Liberals are headed toward one of the most decisive wipe-outs in the history of Canada. This poll, from CBC News on January 6, concludes that if the election were held that day, the Conservatives would win approximately 227 seats to the Liberals’ 44 (in a Parliament of 338).

So, Carney may get a chance to test how well the climate alarm message continues to sell to the Canadian voter. So far, it’s not looking good.

“It’s -3°C but I Can’t Afford to Put the Heating on Because of Rachel Reeves”

In the Telegraph, Maya Wilson-Autzen profiles 72-year-old retired teacher Lynn Emm, who, because of Rachel Reeves, is now forced to choose between warmth and survival.

Screenshot

From The Daily Sceptic

By Richard Eldred

In the Telegraph, Maya Wilson-Autzen profiles 72-year-old retired teacher Lynn Emm, who, because of Rachel Reeves, is now forced to choose between warmth and survival. Here’s an excerpt:

Britain has faced freezing temperatures this week, with some regions falling to lows of -20°C, yet millions of pensioners are in the same position as Ms. Emm.

An estimated 10 million retirees have been left without the winter fuel allowance after the Government announced only those in receipt of pension credit would qualify. Ms. Emm only just misses out on the £200 support.

The former teacher said she is “really scared” to turn the heating on as she can’t afford a big bill.

Ms. Emm receives the full new state pension, which is £221.20 a week, just £3 above the cut-off for winter fuel allowance. She is also in receipt of a teacher’s pension. However, in 2023 she lost her life savings after being targeted online. She lost a staggering £200,000.

“This money was supposed to give me some comfort and pay for a few small luxuries in my retirement. It is completely gone and now the Government has cruelly taken away the winter fuel allowance and I am forced to scrimp and scrape to survive with no savings to fall back on,” she said.

Health Secretary Wes Streeting came under fire last week after urging pensioners to turn their heating on in light of the plummeting temperatures. But people like Ms. Emm are “so frightened” to put the heating on for more than an hour or two a day at most.

Instead, she wraps herself in blankets while moving around the house during the day: “This week has been freezing and miserable.” …

Half of people in Ms. Emm’s position are going to bed earlier to avoid putting the heating on, or have started skipping meals to save energy, a survey by the charity Independent Age found. Caroline Abrahams, director of Age U.K., said: “Wearing more layers and staying in bed for longer might have worked for older people when the weather was mild, but now it has got really cold and there’s snow and frost around, it won’t be enough to keep them adequately warm.”

Ms Emm… lives off her state pension, which goes almost entirely on bills and food. She is forced to search for bargains and live off reduced items: “I don’t buy any luxuries or comforts.” …

She has been forced to turn to charities like Lightning Reach, a financial support portal, which has launched a Winter Warmth Network to connect struggling pensioners with support.

Climate Crisis Policies Destructive to Los Angles Area Environment and Harmful to Wildlife

A look at the carbon emissions and destruction of habitat because of the focus on policies based on virtue-signalling and pseudoscience.

From Legal Insurrection

A look at the carbon emissions and destruction of habitat because of the focus on policies based on virtue-signalling and pseudoscience.

Posted by Leslie Eastman

The continuous stream of news from the Great Los Angeles fire is heart-breaking, and the images are gut-wrenching.

And when the smoke clears and the recovery operations begin, I hope that not only do the insidious “Diversity-Equity-Inclusion” policies that led to inept leadership in critical civic positions are jettisoned….but also the “climate crisis” policies are terminated quickly.

To begin with, our elite media continue to press the “consensus” that this fire is the direct result of “climate change”.  For example, this gem is from the Associated Press.

It began with millions of people across the U.S. shivering amid blizzard conditions and frigid air that lasted for days, thanks to a jet stream that slips out of its usual path more often these days. Then, catastrophe in California, with wind-whipped flames taking off in a landscape parched by months of drought to become Los Angeles’ worst-ever wildfires.

To cap it off, major weather monitoring agencies confirmed 2024 as the hottest year in global history. Even more dire, four of the six agencies said it was the first full year Earth went beyond a warming threshold seen as critical to limiting the worst effects of climate change.

Welcome to one wild week of the climate crisis, scientists say. There will be more.

I am delighted to report that this inanity is being ratioed, which gives me hope that this disaster will put a stake in the heart of climate cult pseudoscience.

Actually
Issues with the Santa Inez reservoir, which was supposed to provide water for fighting the Palisades fire, include:

– The reservoir ran out of water very quickly, just 3 hours into firefighting efforts.

– The reservoir normally holds 117 million gallons of water, but… pic.twitter.com/3c26LJXcnc

— Crystal M Stanley (@4freedom1USA) January 12, 2025

Many on social media have been reporting on the area’s arsons and the arrest of those starting fires.

Hey look, it’s Señor Climate Change

pic.twitter.com/sPiosnke42

— End Wokeness (@EndWokeness) January 12, 2025

I guess the term “climate change” might be correct if it means poor decisions being made by virtue-signalling eco-activists.

It wasn’t a partisan impasse that didn’t upgrade water collection & firefighting infrastructure for decades, ignore forest management, empty reservoirs during fire season, or cut funds to first responders. https://t.co/PkhjvkjTch

— Fusilli Spock (@awstar11) January 11, 2025

I have touched on several disastrous decisions made by local and state leaders already, and blog space is limited. There will be a whole catalog of failures to analyze, and thanks to X.com, the elite media can no longer protect its preferred bureaucrats.

In this piece, I would like to note how all of these climate-cult choices have utterly ruined the natural environment and wildlife habitats in the Greater Los Angeles area.

To begin with, California has been leading the charge on electrical vehicle mandates and ending the use of fossil fuels, because human emissions of carbon dioxide (a life-essential trace gas found in trace amounts within the atmosphere) are supposedly causing “global warming”.

Instead of focusing on water infrastructure, revising forest management choices, or funding fire departments, bureaucrats focused on nanny-state rules. As a result, millions of metric tons of carbon dioxide equivalent have been released into the atmosphere.

I would like to share some numbers to put it in perspective: The 2020 California fire season released approximately 127 million metric tons of carbon dioxide equivalent.

Those fires completely wiped away any emissions savings.

A nearly two-decade effort by Californians to cut their emissions of planet-warming carbon dioxide may have been erased by a single, devastating year of wildfires, according to UCLA and University of Chicago researchers.

The state’s record-breaking 2020 fire season, which saw more than 4 million acres burn, spewed almost twice the tonnage of greenhouse gases as the total amount of carbon dioxide reductions made since 2003, according to a study published recently in the journal Environmental Pollution.

Researchers estimated that about 127 million metric tons of carbon dioxide equivalent were released by the fires, compared with about 65 million metric tons of reductions achieved in the previous 18 years.

The Great Los Angeles Fire is still burning, so I don’t have a final number to share with you. However, because it is an urban fire, carbon dioxide isn’t the only emission. The smoke includes toxic cyanide and sulfur compounds, deadly carbon monoxide, and carcinogens.

So, the next time California’s eco-activist regulators want to gut emissions for your SUV or take away your gas stove, tell them to sit back down.

Another aspect of this destruction that has yet to be considered is the horrendous impact on wildlife. Many of the awful policy choices regarding water in this state have been related to protecting fish.

pic.twitter.com/JncSBfP1BD

— Leslie Eastman ☥ (@Mutnodjmet) January 11, 2025

Because of these choices, many of the region’s iconic animal species are now suffering.

Animals try their best to move out of the direct path of the fire while remaining close to home if they cannot find refuge during wildfires, Stephanie Eyes, a senior wildlife biologist for the U.S. Fish and Wildlife Service’s (FWS) Sacramento Fish and Wildlife Office, noted in an October 2022 article.

…”Wildlife is incredibly resilient,” Eyes said, noting that “California has a long history with wildfire, and many species adapted to endure it.”

“When I was working in Yosemite [the national park], there was a female California spotted owl who weathered several wildfires. We were always concerned about her, but she would still be there, year-after-year,” the biologist recalled.

However, during a “high-severity fire,” which burns across a large forest landscape, moving fast and climbing through the tree canopy, finding refuge can be challenging for animals in the wild.

“Wildlife have adapted to deal with smaller fires, and unfortunately, sometimes they can’t escape these recent, big fires,” Eyes said.

Arguably, the Palisades and Eaton fires are “high-intensity”.

🥹

 It’s not just humans fleeing the flames. A mountain lion & two cubs are seen on Topanga Canyon Blvd. running away from where the Palisades Fire ravaged hundreds of homes. 💔
[hollywood hills / Beverly Hills / Los Angeles / wildlife ] pic.twitter.com/SCO7w449Rs

— Heart of the streetz 🩶 (@HOTS_twt) January 9, 2025

AN IMPORTANT WORD ABOUT WILDLIFE DISPLACED BY THE LA FIRES. THEY HAVE LOST THEIR HOMES, TOO. #LosAngelesFire #PalisadesFire pic.twitter.com/p4M09vxBAL

— Pamela Version 2.025 ♜☄💈 (@Timpanist) January 10, 2025

Amid the raging wildfires, a firefighter becomes a hero, rescuing a helpless fawn (Deer) from the flames. The exact location and date remain unknown, but this act of courage shines through the devastation.#PalisadesFire #LosAngelesFires #californiafires pic.twitter.com/sNkrdyIvlY

— WarNewsDaily🪖🚨🪖 (@XNews24_7) January 11, 2025

Wildlife Displaced by California Fires

LOS ANGELES, CA: Animals fleeing the California fires are seeking refuge in residential areas, having been displaced from their natural habitats in the mountains and hills. https://t.co/H1XFGMzani pic.twitter.com/vrxEfdTmMJ

— Weather monitor (@Weathermonitors) January 11, 2025

Animals are fleeing the fires in the LA mountains and making their way into residential areas. 😦
Let’s hope there’s some people looking out for them, water if any is left💧🫶
What a disaster! 🙏 pic.twitter.com/HhGocyCyxU

— Epstein’s Sheet. 🧻 (@meantweeting1) January 11, 2025

When Americans supported the Endangered Species Act, these were some of the species they had in mind…not bait fish.

Many supporters of sensible climate science policies have gone into great depth about the realities of climate change because of these fires. However, this is the first time I recall “climate crisis’ propaganda posts being so heavily ratioed.

I hope it is not too late to save the remaining natural areas of beauty in this state.

University of Reading Professor Tells Everyone the World is Really Hot

As Britain endures extreme cold and near miss blackouts, apparently now is the right time for an English scientist to tell everyone how hot it is.

From Watts Up With That?

Essay by Eric Worrall

As Britain endures extreme cold and near miss blackouts, apparently now is the right time for an English scientist to tell everyone how hot it is.

My new dark red climate stripe for 2024 shows it’s the hottest year yet

Published: January 10, 2025, 10.00pm AEDT
Ed Hawkins
Professor of Climate Science, University of Reading

…

These “warming stripes”, adopted around the world as a symbol of climate awareness, action and ambition, have just been updated to include a new dark red stripe for 2024. It was a colour that I had to add for the first time last year when 2023 shattered the previous records.

No one experiences the global average temperature directly. But we can use the same approach to represent how we have lived through our own climate experience, locally. The UK had it’s fourth-warmest year on record. Other countries, such as Germany, had their warmest year on record.

…

Well done humanity. For it is us who have caused this rapid warming of the planet, and the devastating consequences for people and ecosystems that are so visible today and every day. Many extreme weather events have been made even worse by our reliance on burning fossil fuels, causing misery around the world.

…Read more: 

https://theconversation.com/my-new-dark-red-climate-stripe-for-2024-shows-its-the-hottest-year-yet-246914

The article goes into all the bad things Ed Hawkins thinks global warming has caused, such as the Los Angeles fire. Strangely Ed forgot to include Britain’s current extreme cold snap in his list of climate disasters.

Given a choice between affordable home heating or climate action, I’m guessing most Brits right now would choose the affordable home heating option.

If an extreme cold snap with near zero wind and solar can occur at 1.5C global warming, it can obviously occur at 2C global warming or even 3C global warming. In fact, if Ed’s prediction of more extreme weather is correct, that could make cold snaps such as Britain is currently enduring more likely or more extreme.

Of course, given the failure of climate models to predict the current bump in global temperature, there are clearly substantial climate forcings which have not been captured by the models. So, it is anyone’s guess where global temperature will go next.

Let us hope Britain doesn’t vote their way out of a survivable future; by embracing so much global warming action they all freeze to death. Because Britain’s ongoing effort to sabotage their own industrial competitiveness and energy affordability is having no impact on India and China’s determination to lift their people out of grinding poverty, by providing low cost fossil fuel electricity as quickly as they can build the coal plants.

Weather Disaster Losses Continue to Fall in Real Terms

Last year, according to Munich Re, weather related disasters cost $298 billion, which they naturally blame on climate change. Noteworthy however is the fact that Swiss Re disagree, identifying economic development as the main driver of increasing economic losses.

From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

Roger Pielke Jr has updated his disaster database:

“Climate Change is Showing its Claws” – by Roger Pielke Jr.

Last year, according to Munich Re, weather related disasters cost $298 billion, which they naturally blame on climate change. Noteworthy however is the fact that Swiss Re disagree, identifying economic development as the main driver of increasing economic losses.

Roger’s full analysis is worth reading, but the chart below tells the real story:

2024 Registrations of New Electric Cars Plummet 27.5% In Germany…” Petrol Dominates”

How’s the Green New Deal working out in Germany? Not very well at all.

From NoTrickZone

By P Gosselin

How’s the Green New Deal working out in Germany? Not very well at all.

Firstly, Germany has been in recession for almost 2 years now – thanks mostly to the policies of Economics Minister Robert Habeck (Green Party), who incidentally has no education in economics, business or finance. The guy just doesn’t know what he’s doing.

Secondly, German energy prices are among the most expensive in the world, and the German power supply has become more unstable than ever. Germany is now in a rapid deindustrialization tailspin.

E-cars aren’t selling

Another indicator that the Green New Deal is faltering badly: sales of new electric cars have plummeted 27.5%, reports Blackout News here, citing data from the Federal Motor Transport Authority (KBA). “Only 380,600 electric vehicles were newly registered. This corresponds to a decline of 27.5 percent compared to the previous year.”

“Diesel cars were even ahead of purely electric cars at 17.2 percent, reports Blackout News. “These figures show how far away Germany is from the government’s electromobility targets. According to the KBA, there were only 1.4 million electric cars on the roads at the turn of 2024/25, while the target is around 15 million by 2030.”

With the bad figures, it’s only natural that e-car proponents are calling for more subsidies in order to entice consumers to opt for e-cars, and higher taxes to punish those who refuse to cooperate by buying diesel or petrol engine vehicles, which are more reliable and cheaper.

Future remains bleak for e-mobility 

So what does the future hold? That of course will depend on the outcome of the coming February 23 national elections. Currently the (fake) conservative CDU/CSU party are leading in the polls (29%) and are expected to win. But a new government under chancellor Friedrich Merz would likely continue Angela Merkel’s disastrous green policies, albeit at a slower rate than the current socialist-Green government under Olaf Scholz.

Growing resistance, AfD on the rise

However, Germany’s new conservative-libertarian AfD party, led by the charismatic Alice Weidel, is steadily closing the gap (22%), and today there’s even a chance of a major upset occurring come the end of February! The momentum is clearly on their side. Elon Musk called the AfD “Germany’s last hope.”

Though a victory by the anti-Green-New-Deal AfD party likely would not mean the chancellorship and thus a takeover of the reins of power,  it would be another major setback for the ever increasingly unpopular green movement.

To make matters worse for the German green movement, President Trump will certainly bring energy prices down in USA, and thus further exacerbate Germany’s economic uncompetitiveness. Germany’s needs to wake up from its green fantasies.

In summary, the next four years don’t offer much hope for Germany and its crumbling green movement. To reach the set targets, authoritarian measures certainly would need to be enacted.

It’s Renewables, Stupid!!

They go on to claim that the biggest driver of high electricity prices, however, is the UK’s marginal pricing model, which means that electricity prices are mostly dictated by gas prices.

There is not a single mention of the cost of subsidies for renewables, which are by far the biggest driver of high prices, and which will add £12.9 billion to bills this year.

From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

What an utterly dishonest article!

https://www.independent.co.uk/news/uk/politics/energy-bills-gas-electricity-renewables-b2672760.html

According to the Independent:

“In general, electricity from renewables should be cheaper to generate than from gas, which would bring bills down for consumers.”

They go on to claim that the biggest driver of high electricity prices, however, is the UK’s marginal pricing model, which means that electricity prices are mostly dictated by gas prices.

There is not a single mention of the cost of subsidies for renewables, which are by far the biggest driver of high prices, and which will add £12.9 billion to bills this year.

Nor is there any mention of system balancing costs, running at £2 billion, required to manage intermittency. Nor is there any mention of carbon pricing, which the Bank of England admitted this week has needlessly pushed up prices.

Nor is there any mention of the fact that even new wind farms will be paid more than the current gas-basede market price.

The article becomes even more ridiculous with this comment:

Building new renewable energy projects requires high levels of upfront capital, so businesses need to be sure they can recoup their investment; meaning they depend upon stable pricing.

Yet Dr Staffell says that power companies will still turn a profit without the artificial inflation linked to gas prices.

“Pricing reform would just make everything a bit more efficient and a bit fairer,” he added

Dr Staffel is supposedly an energy researcher at Imperial College, but he clearly does not understand how our energy pricing system works. New renewable energy projects will be awarded Contracts for Difference, which gives them a guaranteed price, not a market price based on gas.

The Independent even refer to our friend Bob Ward as Bob Hope!! Mind you, I have always said the policy director at the Grantham Research Institute was a bit of a clown!

The whole article, of course, was written as a puff piece for Miliband’s crazy renewable plans, which will see electricity bills skyrocket, not fall.

American Energy Powers AI

The current messaging on AI has an undercurrent of fear and uncertainty, however if we focus on the improved human experience, we can reshape the narrative both in the media and in the minds of the general public. AI has the potential to significantly improve our lives in many industries including medicine, public safety, transportation, retail, education, sports and entertainment. AI will play a major role in allowing us to collect, process and analyze large amounts of data faster than we ever have before.

From Watts Up With That?

By Derrick Hollie

The current messaging on AI has an undercurrent of fear and uncertainty, however if we focus on the improved human experience, we can reshape the narrative both in the media and in the minds of the general public. AI has the potential to significantly improve our lives in many industries including medicine, public safety, transportation, retail, education, sports and entertainment. AI will play a major role in allowing us to collect, process and analyze large amounts of data faster than we ever have before.

Many experts agree that energy and the continued development of AI are critical to America’s national security. In order to compete with our allies and adversaries, we must advocate and call upon Congress and policymakers to act immediately in developing legislation in support of American technology and innovation throughout the AI sector. This should also include reducing regulations that have prohibited new on and off-shore energy production.

Tailored, targeted messaging will need to be developed for both the public and elected officials on the benefits and drawbacks that come with emerging AI technology. The messaging will need to zero in on putting an emphasis on how the lives of Americans will be vastly improved if AI is used responsibly. We have the potential to make our lives easier and more convenient by pioneering scientific breakthroughs in the fields of medicine, air traffic safety, metropolitan traffic flow and leading the way in adopting safe, autonomous vehicle policy.

We must also recognize the vast amount of energy to produce the terawatts (TW) needed to digest, process and analyze data that AI requires. This includes data centers like Meta, who recently disclosed their plans to open another hyperscale data center in Cheyenne, Wyoming. The amount of energy required for this particular center would be enough to power over 770,000 homes – more households than the city of Philadelphia.

The immense load of power needed for Meta and other data centers coming online like Google, Amazon and other American tech giants will require an all-of-the-above energy approach, including renewables, nuclear and fossil fuels. We must continue to advocate for sensible energy policy with lawmakers that allow us to develop necessary energy needed while still protecting the environment.

With the new administration and agenda, lawmakers will need to set aside differences associated with AI and emerging technology to make America’s energy independence a priority with the ultimate goal of having energy security. This will be critical in allowing America to lead the way in AI innovation without being interrupted by a global crisis such as the invasion of Ukraine by Russia or any other political turmoil. With the amount of energy needed for the data centers driving the growth of AI, we cannot afford to be beholden to any other country for our energy sources or the whims of OPEC. In 2019 the US became the number one exporter of oil & natural gas in the world – surpassing Saudi Arabia and Russia in those sectors. In much the same way, we need to ensure we outperform our adversaries in exploiting the use of and broadening the development of AI technology in America.

We can look forward to AI making it less necessary for young Americans to have to attend college and consequently falling victim to the debt associated with student loans. Many will now be able to take advantage of the jobs and opportunities associated with the growth of AI. This would include careers in energy, manufacturing, public safety and industrial trades – all essential as we build out these massive data centers.

We must eliminate fear and take advantage of this opportunity to usher in positive discussion of how AI will increase job creation, support innovation and improve lives across broad communities.

Derrick Hollie is founder of the Energy Poverty Prevention Project. The organization was founded to expand awareness of energy poverty and is committed to changing energy regulations that fail to provide American citizens with access to affordable and reliable energy needed to maintain personal health and economic security.

This article was originally published by RealClearEnergy and made available via RealClearWire.

World Institutions Pushing Pseudoscience

A spate of stories in the media recently provides a remarkable illustration of how the globalist policy agenda of the climate-industrial complex has captured key international institutions and perverted their original organizational aims. From initially serving broad, laudable objectives for the welfare of their constituents, these institutions have been subverted over the years to serve the insistent pseudoscientific claims of climate alarmists.

From Science Matters

By Ron Clutz

Since 1660, Nullius in verba was the Royal Society’s motto.                                     
“Don’t take anyone’s word for it.”

Yesterday’s post showed how American science societies have taken to parroting climatist suppositions rather than applying critical intelligence to claims of a “climate crisis.” That unquestioning attitude betrays the science method expressed in the Royal Society’s motto.  Today presents Tilak Doshi describing how the same pattern appears in international institutions supposed to be objective reporters of natural conditions. His Daily Signal article is The Climate Agenda’s March Through the Institutions: Can It Be Stopped? Excerpts in italics with my bolds and added images.

A spate of stories in the media recently provides a remarkable illustration of how the globalist policy agenda of the climate-industrial complex has captured key international institutions and perverted their original organizational aims. From initially serving broad, laudable objectives for the welfare of their constituents, these institutions have been subverted over the years to serve the insistent pseudoscientific claims of climate alarmists.

The corruption of global institutions has, in turn, led to significant opposition that is becoming apparent. There is the prospect of an incoming Trump administration that is avowedly skeptical of the claims of an alleged climate crisis and is intent on exiting the U.N.’s Paris Agreement and its “net zero by 2050” policy target for a second time. This presents a welcome challenge to these corrupt institutions.

Will President Donald Trump and some of the populist parties in Europe
be capable of countering the entrenched globalist climate agenda?

The World Bank

On Oct. 17, Oxfam published a report that shockingly found that up to $41 billion in World Bank climate finance—nearly 40% of all climate funds disbursed by the World Bank over the past seven years—is “unaccounted for between the time projects were approved and when they closed.” In other words, no one knows how the money was used. There is no paper trail revealing where the money went or what the accomplished results were.

Green cronyism, ranging from the Solyndra debacle—the waste of almost half a billion dollars of taxpayers’ money on a failed solar farm project under President Barack Obama’s watch—to President Joe Biden’s duplicitously-named Inflation Reduction Act, which will unleash an estimated $1 trillion deluge of subsidies on favored “green” industries, is nothing new. But it is instructive to trace the World Bank’s decline from its honorable founding objectives to its current status as yet another institution advocating green causes.

Dr. Jim Yong Kim, reflecting the progressive virtues of Obama, who appointed him as president of the World Bank in 2012, imposed a ban on the financing of coal-fired power stations in 2013. This was followed by a ban on investments in all new upstream oil and gas resource development projects.

The distinguished economist Deepak Lal, a former research administrator of the World Bank, remarked that Kim incredulously “over-ruled the cost-benefit estimates of coal-based power over solar and wind-based power generation produced by his own economic staff, justifying this by reference to a wish to cut global emissions of greenhouse gases.”

The World Bank’s objections to the use of fossil fuels despite their importance to economic growth and poverty alleviation—which constitute its foundational institutional objectives—can be traced to the intellectual evolution of its management under James Wolfensohn during his decade as president (1995-2005).

Wolfensohn traced the arc from the old regime to the new. The old was represented by the “Washington consensus” of free markets, liberal trading regimes, sound money, and entrepreneurship associated with the classical liberalism of Adam Smith.

The new intellectual environment of the World Bank’s management—personified by Joseph Stiglitz, chief economist of the World Bank (1997-2000)—was defined by the theoretical failures of the free market, especially in accounting for the alleged negative climate impacts of fossil fuel use.

Stiglitz, a climate alarmist, wrote in a 2015 court brief for a failed climate lawsuit brought on behalf of a group of children against the U.S. federal government that “fossil fuel-based economies imposed ‘incalculable’ costs on society and shifting to clean energy will pay off.” [See Climatists Make Their Case by Omitting Facts]

Rupert Darwall, a former adviser to the United Kingdom’s chancellor of the exchequer and author of “Green Tyranny,” encapsulates the betrayal of the World Bank to its founding objectives as follows:

The World Bank’s mission has been subverted by green ideologues who assert that a low-carbon world benefits the world’s poor but fail to acknowledge that making energy much more costly increases poverty. The World Bank tags itself as ‘working for a world free of poverty’ … In making its choice between development and sustainability, the World Bank has decided it is going to try and ‘save the planet’ on the backs of the poor.

By abdicating its founding principles for alleviating global poverty, the World Bank has taken a lead role among multilateral financial institutions in denying vast financial resources to poorer countries. It has hypocritically vetoed the right of developing countries to adopt the path of economic growth and environmental improvement that the now-rich countries had taken up successfully since the Industrial Revolution two centuries ago. The World Bank’s obsessive support for intermittent, low-yield renewable energy such as solar and wind power comes at the cost of its central charter to help the poor, an outcome that can only be described as egregiously unjust.

The UN Intergovernmental Panel on Climate Change

The U.N. IPCC issued a news release on Dec. 6 prior to the start of a “scoping” meeting in Kuala Lumpur of over 230 experts from 70 countries to draft outlines of working group contributions to the U.N. IPCC’s seventh Assessment Report (to be completed in 2029).

In the press release, the IPCC claimed that human combustion of fossil fuels “has resulted in more frequent and more intense extreme weather events that have caused increasingly dangerous impacts on nature and people in every region of the world.” This is contrary to the IPCC’s position hitherto, which is that almost all types of extreme weather events cannot be attributed with confidence to human activity.

The position of the IPCC regarding the lack of any link between climate change and extreme weather events is contrary to the almost daily headlines in the mainstream media attributing specific adverse weather events to “climate change.”

The work of eminent climate policy analysts Steve Koonin and Roger Pielke Jr. has done much to expose the pseudoscientific nature of what has been called “attribution studies.” These typically involve researchers who apply their climate models and historical observations to conclude that any particular weather event (say a hurricane or a drought) was made “more likely” or “more severe” by some magnitude in percentage units due to “human influence” (referring to the combustion of fossil fuels).

Based on the dubious claims of “attribution science,” New York Gov. Kathy Hochul signed a climate law last week that will require companies operating in New York state responsible for large amounts of planet-warming pollution to contribute to climate damage repair efforts. Under the new state law, companies responsible for the bulk of emissions from 2000 to 2018 will be on the hook for some $3 billion a year over the next 25 years.

Koonin cites the World Meteorological Organization that states that “any single event, such as tropical cyclone cannot be attributed to human-induced climate change, given the state of scientific understanding.” The IPCC’s “Special Report on Extreme Events” states that “Many weather and climate extremes are the result of natural climate variability … Even if there were no anthropogenic changes in climate, a wide variety of natural weather and climate extremes would still occur.”

Nonetheless, international organizations such as the World Bank and the IPCC have been increasingly politicized to serve climate hysteria. In this context, Chris Morrison of The Daily Sceptic finds that “[f]ears are growing that the IPCC could water down or even ditch its current finding that almost all types of extreme weather events have little or no sign of past human involvement, or any going forward to 2100.”

International Energy Agency

On Dec. 23, U.S. Sen. John Barrasso, R-Wyo., ranking member of the Senate Committee on Energy and Natural Resources, released a report documenting how the International Energy Agency “has moved away from its energy security mission to become an “energy transition” cheerleader.”

The report finds that “French President [Emmanuel] Macron’s observation that IEA has become the ‘armed wing for implementing the Paris Agreement’ is regrettably true. With the many serious energy security challenges facing the world, however, IEA should not be a partisan cheerleader. What the world needs from IEA—and what it is not receiving now—is sober and unbiased analyses and projections that educate and inform policymakers and investors. IEA needs to remember why it was established and return to its energy security mission.”

The divergence of the IEA away from its original mission to advise policymakers in its member countries with sound analysis of trends in global energy supply and demand to becoming a “cheerleader” for radical net-zero emission policy targets has not gone unnoticed over recent years. I have written on the ideological approach adopted by the IEA in its advocacy for green causes here, here, and here.

When ideological advocacy becomes the measure of achievement for the IEA, the loss of credibility and soundness of its policy advice is only to be expected. The IEA’s messianic fervour for green technologies such as solar and wind power, “green” hydrogen, batteries, and electric vehicles prevents it from asking basic questions.

If it is true that drastically cutting back on fossil fuels is consistent with higher economic growth and increased productive employment, why does the IEA recommend policymakers force countries along “net-zero” pathways? Surely, if replacing fossil fuels with wind and solar energy and electric vehicles promotes growth and employment, then wouldn’t countries such as China and India naturally race toward this best of all possible worlds without expensive green subsidies and punitive anti-fossil fuel policies?

The Trumpian Revolution Looms

Nonprofit organizations reflect the needs of their funding members, and organizations such as the World Bank, IPCC, and IEA are no different. As their funding is primarily from the U.S. and the EU, it is not surprising that they manifest the “climate emergency” predilections of the Biden administration and the largely left-socialist West European governments that see climate change as an existential threat and a national security priority. In taking up the mantle of green advocacy on behalf of their paymasters, these organizations have lost all credibility as independent and objective advisors for their member countries.

The climate-industrial complex fears the prospect of the Trump administration’s pullout of the Paris Agreement for the second time. Politico, a reliable mouthpiece for the climate establishment, expressed these fears soon after Trump’s election victory: “The world is bracing for President-elect Donald Trump to withdraw the U.S. from the Paris climate agreement for the second time—only this time, he could move faster and with less restraint.” In Europe, the emergence of populist parties has been partly propelled by the widespread rejection by EU citizens of the onerous fiscal burdens imposed by green policies.

The seismic change in policy direction that a second term “drill, baby, drill” Trump administration promises for the global climate juggernaut—represented by the three leading international agencies covered here—can only be seen as hopeful as we look forward to positive developments in energy policy in 2025.

Top Journal: Scientists Should Be More, Not Less, Political

Science, nominally the most prestigious scientific journal in the world, is at it again. In November, it published an editorial by Agustin Fuentes titled ‘Scientists as political advocates. The gist is that scientists and scientific institutions need to be even more political than they already are.

From The Daily Sceptic

By Noah Carl

Science, nominally the most prestigious scientific journal in the world, is at it again. In November, it published an editorial by Agustin Fuentes titled ‘Scientists as political advocates. The gist is that scientists and scientific institutions need to be even more political than they already are.

Back in 2023, Fuentes wrote an editorial that claimed “being woke is just doing good 21st-century science”. And in 2021, he wrote one that described Charles Darwin as “an English man with injurious and unfounded prejudices”. Indeed, the prolific Fuentes has penned no less than eight editorials for Science over the last four years – suggesting that the editors like what he’s selling.  

Returning to ‘Scientists as political advocates’, Fuentes begins by warning readers that science is “under attack”. Does he mean that it’s under attack from woke ideologues trying to bend science into a tool for promoting ‘diversity’? Or that it’s under attack from public health officials trying to shut down discussion over the harms of pandemic policies? Of course not. He means that it’s under attack from his political opponents.

Almost all the examples Fuentes gives involve accusations that some person or organisation on the political right is attacking science. He isn’t worried about attempts to redefine basic biological concepts like ‘sex’ or scientists being made the subjects of censorious petitions for opposing mask mandates. This isn’t to say that Fuentes’ examples don’t qualify as attacks – just that his presentation is so obviously one-sided and tendentious.

In the next paragraph, Fuentes manages to derive the conclusion that “science in many societies is political and always has been” by quoting a recent statement on “scientific responsibility” from the American Association for the Advancement of Science, which incidentally publishes Science. I’m not convinced. Sure, scientists should act responsibly, just like everyone else. But this doesn’t mean that science as an institution is or should be political.

People like myself who oppose the politicisation of science aren’t saying that scientists should be free to act irresponsibly, or that they should be indifferent to “the interest of humanity” (Fuentes’ words) in their role as private citizens. We’re saying that science itself should be kept separate from politics, as prescribed by the four Mertonian norms:

  1. Scientists must be judged on impersonal criteria. (No firing people for ‘racism’.)
  2. They must share their data and results with one another. (No preventing access to datasets.)
  3. They must seek to advance knowledge, not pursue personal or political goals. (No requiring people to promote ‘diversity’.)
  4. And they must remain detached from the subject matter of their research. (No promoting feel-good dogmas.)

In the next paragraph, Fuentes reaffirms his woke credentials, complaining that “attacks are often especially intense when the scientists are also women, BIPOC (Black, Indigenous, and people of color), queer, or from other marginalized groups”. What he’s basically saying is that attacks on white male scientists are the least intense, which is more or less the opposite of the truth. Attacks on white male scientists tend to be the most intense precisely because such individuals rank lowest in the woke’s victimhood hierarchy. Have any black female scientists been the subject of a censorious petition signed by hundreds of their colleagues?

Fuentes proceeds to criticise the “idea that scientists must maintain an air of neutrality”, which, he claims, is “ethically problematic and practically detrimental” in the face of an “anti-science onslaught”. He seems to believe the only reason people aren’t on board with his political agenda is that too many scientists are laying low because they’re hung up on this whole neutrality thing. But scientists in many fields aren’t keeping quiet: they’re engaging in precisely the kind of activism that Fuentes wants. And in doing so, they’re contributing to the loss of public trust in science.

Fuentes’ call for super-charging the politicisation of science somehow isn’t very compelling. Traditional scientific values like neutrality and impartiality – they’re worth hanging on to.