{"id":329929,"date":"2024-05-24T14:27:21","date_gmt":"2024-05-24T12:27:21","guid":{"rendered":"https:\/\/climatescience.press\/?p=329929"},"modified":"2024-05-24T14:27:23","modified_gmt":"2024-05-24T12:27:23","slug":"unattainable-sustainability","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=329929","title":{"rendered":"Unattainable Sustainability"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

By Heart of Liberty Portfolios<\/a><\/p>\n\n\n\n

Don Harrison<\/p>\n\n\n\n

I keep a spreadsheet with links to informative articles I have read on ESG and climate change.  I typically attach key words to each link so I can easily search out a topic when needed for reference.  When it comes to the climate change debate, \u201cabsurdity,\u201d \u201cmendacity,\u201d \u201cgrift\u201d and \u201ctyranny\u201d make frequent appearances.  But the star of the show seems to be \u201cfantasy.\u201d <\/p>\n\n\n\n

Last month, the always perspicacious Mark Mills penned an excellent piece in City Journal <\/em>titled \u201cWhen Politics and Physics Collide<\/u>.\u201d<\/a> (1) It is a comprehensive indictment of the magical thinking that permeates the lemming-like rush to EVs, Net Zero and the bulk of \u201cgreen\u201d technologies.<\/p>\n\n\n\n

Here is a sprinkling of the points he makes in his damning analysis:<\/p>\n\n\n\n

100 percent of everything in civilized society, including the favored \u201cgreen energy\u201d machines themselves, depends on using hydrocarbons somewhere in the supply chains and systems.<\/em><\/p>\n\n\n\n

Through regulatory fiat, the Environmental Protection Agency\u2019s newly announced rules effectively mandate that more than half of all cars and trucks sold must be electric vehicles (EVs) by 2032.  That will demand, and soon, the complete restructuring of the $100 billion U.S. automobile industry.<\/em><\/p>\n\n\n\n

A seminal paper from the International Energy Agency (IEA) estimated a fourfold to 40-fold increase in global mining would be needed for a variety of common energy minerals. A more recent paper from Yale looked at a suite of 15 rare minerals required for \u201cfull decarbonization\u201d and reached similar conclusions: the supply of various key \u201crare earth\u201d elements would have to increase 60- to 300-fold.<\/em><\/p>\n\n\n\n

It is no exaggeration to say that the realities of solar silicon fabrication mean that solar subsidies and mandates have induced eager Californians to festoon their roofs with transmuted coal \u2013 <\/em>because China has a 90 percent market share producing solar silicon on its coal-fired grids. <\/em><\/p>\n\n\n\n

The total direct and induced spending on the energy transition could easily exceed $5 trillion before a decade passes, or sooner, if advocates prevail.  For context, the entirety of World War II cost the U.S. roughly $4 trillion (in today\u2019s dollars).<\/em><\/p>\n\n\n\n

Read the whole article, and you will probably come to ask yourself the same question I have been asking for quite some time: how can investment management companies continue to insist that ESG investing meets their fiduciary obligations when most of the sustainability agenda is physically, economically, and politically unattainable?   <\/p>\n\n\n\n

1) https:\/\/www.city-journal.org\/article\/the-magical-thinking-behind-the-energy-transition<\/a><\/p>\n\n\n\n

Any opinions are those of Don Harrison and not necessarily those Raymond James Financial Services, Inc., or of Raymond James.  The information contained in this presentation does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.  Investing involves risk and you may incur a profit or loss regardless of strategy selected. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website\u2019s users and\/or members. <\/p>\n\n\n\n

Don Harrison, creator of Heart of Liberty Portfolios, is the President of Capitalist Investment Services and a Branch Manager and Financial Advisor with Raymond James Financial Services. Heart of Liberty Portfolios \u2014 first choice for investors who want to rid their portfolios of ESG.\u00a0<\/p>\n\n\n\n

https:\/\/heartofliberty.com\/home<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

I keep a spreadsheet with links to informative articles I have read on ESG and climate change. I typically attach key words to each link so I can easily search out a topic when needed for reference. When it comes to the climate change debate, \u201cabsurdity,\u201d \u201cmendacity,\u201d \u201cgrift\u201d and \u201ctyranny\u201d make frequent appearances. But the star of the show seems to be \u201cfantasy.\u201d <\/p>\n","protected":false},"author":121246920,"featured_media":329932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818056,691821977,691818229,691828781,691818154],"class_list":["post-329929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-climate-change","tag-electric-vehicles-evs","tag-esg","tag-full-decarbonization","tag-net-zero","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1nPr","jetpack-related-posts":[{"id":239288,"url":"https:\/\/climatescience.press\/?p=239288","url_meta":{"origin":329929,"position":0},"title":"ESG Fell to Earth in 2022","author":"uwe.roland.gross","date":"01\/12\/2023","format":false,"excerpt":"In reality, it\u2019s about investors and debt providers driving the decarbonization of Western companies and sunsetting its oil and gas companies.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00Screenshot-2023-01-12-145507.png?fit=766%2C872&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00Screenshot-2023-01-12-145507.png?fit=766%2C872&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00Screenshot-2023-01-12-145507.png?fit=766%2C872&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00Screenshot-2023-01-12-145507.png?fit=766%2C872&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":241085,"url":"https:\/\/climatescience.press\/?p=241085","url_meta":{"origin":329929,"position":1},"title":"Backlash: BlackRock CEO says attacks on ESG investing are getting ugly and personal","author":"uwe.roland.gross","date":"01\/22\/2023","format":false,"excerpt":"Elon Musk saying ESG\u2019s \u2018S\u2019 stands for \u2018satanic\u2019. There are already\u00a019 US States fighting back against BlackRock.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-983.png?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-983.png?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-983.png?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-983.png?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-983.png?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":288384,"url":"https:\/\/climatescience.press\/?p=288384","url_meta":{"origin":329929,"position":2},"title":"SEC Rule on ESG Reporting: Going Too\u00a0Far?","author":"uwe.roland.gross","date":"11\/22\/2023","format":false,"excerpt":"From Science Matters By\u00a0Ron Clutz Based on a non-fiction book of the same name by historian Cornelius Ryan, A Bridge Too Far is a 1977 epic war film depicting Operation Market Garden, a failed Allied operation using paratroopers to secure three bridges over three key rivers in Nazi-occupied Netherlands during\u2026","rel":"","context":"In \"Climate change\"","block_context":{"text":"Climate change","link":"https:\/\/climatescience.press\/?tag=climate-change"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/sec-logo-2-main.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/sec-logo-2-main.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/sec-logo-2-main.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/sec-logo-2-main.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/sec-logo-2-main.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":261509,"url":"https:\/\/climatescience.press\/?p=261509","url_meta":{"origin":329929,"position":3},"title":"Shakedown! Climate Governance Initiative (UK)","author":"uwe.roland.gross","date":"06\/10\/2023","format":false,"excerpt":"Politicized ESG alert for corporations. The\u00a0Climate Governance Initiative\u00a0(CGI), housed at the University of Cambridge (UK), wants to hose you down in the name of \u201csaving the Planet.\u201d Rather than debate climate alarm and forced energy transformation, CGI wants to assume it and race down Hayek\u2019s\u00a0Road to Serfdom, the Utopia being\u2026","rel":"","context":"In \"Climate Governance Initiative\"","block_context":{"text":"Climate Governance Initiative","link":"https:\/\/climatescience.press\/?tag=climate-governance-initiative"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0-car-cemitary.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0-car-cemitary.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0-car-cemitary.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0-car-cemitary.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0-car-cemitary.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":248006,"url":"https:\/\/climatescience.press\/?p=248006","url_meta":{"origin":329929,"position":4},"title":"SVB, ESG, and Biden\u2019s ERISA Rule","author":"uwe.roland.gross","date":"03\/16\/2023","format":false,"excerpt":"The collapse of Silicon Valley Bank (SVB) occurred just days after Congress passed the\u00a0Braun-Barr resolution, which overturns the Biden administration\u2019s \u201cPrudence and Loyalty\u201d rule and its encouragement of environmental, social, and governance (ESG) investing by pension managers under the Employee Retirement Income Security Act (ERISA).","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-535.png?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-535.png?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-535.png?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-535.png?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-535.png?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":425364,"url":"https:\/\/climatescience.press\/?p=425364","url_meta":{"origin":329929,"position":5},"title":"Second or Third Generation Family Businesses Are More Likely to Go Green","author":"uwe.roland.gross","date":"02\/09\/2026","format":false,"excerpt":"It\u2019s kind of sad really. 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