Finally 19 US States are hitting back at BlackRock the financial behemoth, and not a day too soon.
A light in the tunnel…
By a pure dollar reckoning, BlackRock is the third largest “foreign entity” in the world, after the USA and China, but its core business, its reason for existing is a contradiction: it claims to be an asset manager but acts like a political power. With neither citizens, land nor an army, it’s a kind of toxic financial bubble on a roll — part illusion, but still swallowing economies, minds and electricity grids.
BlackRock is supposedly investing funds on behalf of its customers while using those same funds to promote Woke political agendas that its management may like, but that its own customers may disagree with. It’s a totalitarian force that consumes democratic choices by force of money. Finally some state legislators are calling out the contradiction. Does BlackRock serve its customers or “the management of BlackRock”?
BlackRock is enormous, but it’s not untouchable, and if retirees and State pension plans pulled their money and filed writs for breaches of law, the activist-agency could vanish overnight. BlackRock has $10 trillion in assets to wield as an activist hammer, but those assets mostly belong to other people. BlackRock can only keep weaponizing that money as long the the other people let them. Underneath that big financial hammer is a $152 billion dollars in total assets belonging to BlackRock, and that’s shrunk from $240 billion dollars worth back in 2014.
Send this to your elected representative, your retirement fund and ask about their own “Fiduciary Duty” and “Duty of Care”.
Pay attention to your retirement funds. Money left unattended may be used against you…
Time to boycott the boycotters
Leading the way, West Virginia has announced last month that it will not do business with any firms that boycott the fossil fuels industry — which means Goldman Sachs, JPMorgan and BlackRock, Wells Fargo, and Morgan Stanley. These companies are now ineligible for state banking contracts worth about $18 billion a year. Brilliant.
“At the end of the day, all we want is for banks to act like banks,” [Treasurer Riley Moore] told the Washington Free Beacon, adding it would be hard for the state to continue functioning without the coal industry.
In June, Moore gave the firms 30 days to provide the Mountain State’s treasury with proof they supported the coal, oil, and natural gas industries. “I simply cannot stand by and allow financial institutions working against West Virginia’s critical industries to profit off the very funds their policies attempt to diminish,” Moore said.
Now 19 State Attorney Generals have written “Dear Mr Fink”
Billions of dollars of US State Pension funds are wrapped up with BlackRock. They don’t have to be.
This is round two of an exchange between the State AG’s and BlackRock. Here the state AG’s write to Mr Larry Fink, CEO of BlackRock, Inc. on August 4th, 2022 in reply to his letter claiming BlackRock is neutral, and just engaged in climate dialogue.
Based on the facts currently available to us, BlackRock appears to use the hard-earned money of our states’ citizens to circumvent the best possible return on investment, as well as their vote. BlackRock’s past public commitments indicate that it has used citizens’ assets to pressure companies to comply with international agreements such as the Paris Agreement that force the phase-out of fossil fuels, increase energy prices, drive inflation, and weaken the national security of the United States. These agreements have never been ratified by the United States Senate. The Senators elected by the citizens of this country determine which international agreements have the force of law, not BlackRock.
There are six key points (as translated by me, with a few quotes):
- 1. Neutrality –– BlackRock claims to be neutral on energy generation yet actively campaigns to accelerate “Net Zero”. They held 2,300 meetings with companies on climate, and took action against 53 companies with another 191 put “on watch”. The AG’s warn that BlackRocks agenda would covertly convert states core index portfolios into “ESG Funds”.
“Rather than being a spectator betting on the game, BlackRock appears to have put on a quarterback jersey and actively taken the field.”
- 2. Dialogue — BlackRock claims it is only talking to climate advocacy organizations “on sustainability issues important to our clients.” But under their state laws, the AG’s, who are clients of BlackRock, remind BlackRock that the only desired dialogue on energy transitions would be on “how to maximize financial returns”. Saying the unthinkable, they remind BlackRock that that sort of discussion would “include the opportunistic purchasing of fossil fuel assets discarded by companies seeking to meet net zero commitments.” Naturally, the climate advocacy groups don’t talk about that. Instead Climate Action 100+ and GFANZ discuss how to ““alter the planet’s climate trajectory.”
- 3. Duty of Loyalty — Either BlackRock is working to maximize state pension funds or it isn’t – no mixed motives are allowed. Taking action on climate change above and beyond legal requirements is a rampant violation of this duty:
BlackRock’s commitment to the financial return of state pensions should be undivided. Many of our laws state that a fiduciary must “discharge [their] duties solely in the interest of the participants and beneficiaries . . . for the exclusive purposes of . . . providing benefits to participants and their beneficiaries; and . . . defraying reasonable expenses of administering the system.” The stated reasons for your actions around promoting net zero, the Paris Agreement, or taking action on climate change indicate rampant violations of this duty, otherwise known as acting with “mixed motives.” As one commentator has put it: “Acting with mixed motives triggers an irrebuttable presumption of wrongdoing, full stop.” Whether mixed motives arise from a desire to save the world or attract investment from European or left-leaning pension funds, is ultimately irrelevant to the legal violation. Investors have wide latitude over their own money, but our state pensions must be invested only to earn a financial return.
- 4. Duty of Care — What if BlackRock are betting the wrong way with all that money? BlackRock assume that the “energy transition” is a done deal when it is falling over in so many places and many of BlackRock’s own predictions were flat out wrong. On May 24th BlackRock said that the Russian invasion would accelerate investments in renewables in Europe where “energy security goals are aligned with decarbonization”. Yet within a month of that, Germany was restarting coal plants. Meanwhile BlackRock voted to penalize the Board of Directors of Fortum for investing in coal, which would have been the right financial call. Given this incompetence, the State Attorney Generals wonder if BlackRock can predict worldwide energy demand decades in advance? Don’t we all?
In the Wall Street Journal the Arizona AG Mr. Brnovich, is scathing: BlackRock is neither neutral, nor likely to succeed
If asset managers have committed to push portfolio companies to attain net zero, how is the choice of approaching the “energy transition” left to the client? Even if BlackRock allows clients to vote their shares, BlackRock has pressured public companies long before any vote occurs. It appears that all clients buying BlackRock funds are forced to support ESG whether they like it or not. These actions raise more questions.
BlackRock is betting on the Green line…
The diagram nearby, taken from a BlackRock report, shows that governments are neither implementing nor pledging policies that would achieve net-zero greenhouse gas emissions by 2050. Would a prudent fiduciary bet everything on the green line?
Perhaps the trajectory for net zero will change. Perhaps a U.S. president with 40% approval ratings will build enduring majorities in Congress with a coalition that supports destroying the American energy sector and, in turn, perpetuating high energy prices, low economic growth, and inflation. Perhaps leftist Democrats will attain majorities sufficient to enact the Paris Agreement, impose a carbon tax, hold the presidency for decades, and subsidize green products until a “thousand Solyndras bloom.” Perhaps the world will ignore aggression by Russia and China to stay on track with emissions targets. Perhaps the U.S. will cheerfully shovel $8 trillion into China by 2030 for green investments, which is the amount BlackRock’s public documents state China needs to keep on track for net zero 2050.
- 5. Antitrust –– BlackRock is a member of both Climate Action 100+ and GFANZ. These are both clubs which brag about how many trillions of investment funds they can coordinate to “transform the economy to Net Zero”. What looks like a cabal, acts like a cabal and stinks like a mafia stitch up?
Group boycotts, restraining trade, or concerted refusals to deal, “clearly run afoul of” Section 1 of the Sherman Act. Section 1 prohibits “[e]very . . . combination . . . , or conspiracy, in restraint of trade or commerce.”
BlackRock’s actions appear to intentionally restrain and harm the competitiveness of the energy markets. Disturbingly, a survey last year from the Federal Reserve Bank of Dallas asked: “Which of the following is the primary reason that publicly traded oil producers are restraining growth despite high oil prices?” Sixty percent of respondents referenced a form of “investor pressure.”
- 6. Energy Boycotts — Many US states now prohibit boycotts of energy companies. BlackRock says it doesn’t but it also touts its ability to penalize directors by voting them out if they don’t reduce their carbon intensity. Given the price of coal, and Europe’s sudden desire to use it, this appears to be directly contrary to the financial interests of the energy company, and BlackRocks clients too.
The key words are fiduciary duty and antitrust
At the core of the pushback is the idea that the global guardian of citizens funds is supposed to be investing their capital for the best return possible. It’s not supposed to be using their money to pursue Woke, activist agenda’s or punish companies according to the personal whims or profits of the management team.
Spread the word.
h/t to Marcel, Old Ozzie, thanks for extra tips from MP, aspnaz, joseph, David Maddison, beowulf. So much more to come.
There’s a lot of money and political power to be had from the anthropogenic global warming fraud.
But that money and power goes to the Elites, not “the people”. It doesn’t even go to the “slave army of the useful idiots of the Left” who like worker ants, tirelessly promote this fraud on behalf of their masters.
This is not free enterprise. Free enterprise thrives on competition. This enterprise only works because free enterprise and competition is prohibited by government.
Control energy, health care options (reference to covid), communications (via social media) and now the food supply and you totally control the people.
This is following Orwell’s Nineteen Eighty Four to the letter.
It is rather reminiscent of the scene from the Schwarzenegger movie, Total Recall where the bad guy who has a monopoly on the air supply on a Mars colony starves the people of oxygen (in comparison to the present case, akin to electricity on earth).
https://youtu.be/X8lT-Sn-HqE
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How do punish our own banks, Westpac/ANZ, for refusing to finance fossil fuel mining projects??
If there was a Conservative bone in any political party we could start right there but the whole pack of them, bar one or two lonely voices are committed to NET ZERO. WE ARE DOOMED,!
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Australian banks might get the message when they realise Chinese banks are still investing in coal – because the Chinese are not stupid.
The following article, even though it has a Leftist/warmist slant, makes the point that Chinese banks are the last to invest in coal.
https://www.afr.com/companies/financial-services/china-s-banks-are-the-last-big-players-in-coal-company-financing-20220414-p5adfm
SEE LINK FOR REST
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Note the hilarity of the AFR (now that it’s a 9 shill, its best use is firelighting) “as the planet lurches towards catastrophic….” No the truth is “as the climate takes its normal random walk through the natural factors that influence its variation, and we increasingly rely on our vast cheap sources of reliable energy to cushion any less desirable conditions…”
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Global Warming is indeed catastrophic.
It’s the policy, not the warming, that’s catastrophic.
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Mr. 1: And, the worst part, GWP (global warming policy) is entirely man-made!
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Graham. I just checked the standing of our five big banks. I have shares in them and bought them all at about the same time so relativity is fairly accurate.
ANZ down 11.25%
CBA up 72%
MQG up 34%
NAB up 23%
WBC down 14%
Maybe the ANZ and WBC are being punished.
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If Scomo had announced
and quietly told the States their GST honeypots might be affected for the same reason there would have been a completely different tone in Canberra.
But instead he thought he could advertise his way around giving into the climate crazy left – and exactly how did that work out for you and the Liberals Scomo?? 🙁
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Australia doesn’t have a federal or any state governments that cares for the people.
All are utterly and fanatically committed to the anthropogenic global warming fraud.
I guess we don’t have quite the pressure for an inexpensive, affordable energy supply as in North America and Europe because unlike cold parts of those places, people don’t tend to die in their own houses when it gets too cold and there is no energy supply.
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Summed up by https://quadrant.org.au/opinion/qed/2022/08/struck-dumb-by-pussyfoot-in-mouth-disease/
As we go through the circus of will we or won’t we have enough coal and gas next year, I read one of many newspaper articles from the UK speculating on whether the coming winter would bring gas shortages. One reader wrote: “An island of coal and shale gas surrounded by a sea of hydrocarbons and yet we’re here at this miserable state of affairs.” Summed it up.
Australia is a much larger island with an even larger pot of fossil fuels, and uranium, under our feet. But the naysayers have it. Even those few among Coalition parliamentarians who would favour new coal mines and gas wells still claim allegiance to the climate-change agenda. They are not sceptical. Not unbelievers. Recall that even John Howard in the exalted position of prime minister was too cowed to deny his allegiance to the new religion of climate change. Not one among Liberals or Nationals will say that “climate change” is bunkum (which it is) and that, therefore, all of the costly and unsightly measures to counter it are both useless and criminal. They’re tepid at best.
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Not true to say there are zero in the Coalition who say MMGW is bunk; Matt Canavan, Alex Antic spring to mind. I know, slim pickings.
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This is really heartening news, that U.S. State governments are genuinely pushing back on behalf of citizens.
One of the things that should concern Australian governments is the blatant use of retirement funds under management to develop and support politically motivated schemes.
Industry specific funds are most at risk when former union leaders take on the role of “Fund Manager” and allocate resources to the latest cause rather than properly functioning businesses and solid assets.
Just imagine the Superannuation carnage if governments took appropriate action and closed down the ridiculous Renewable energy band wagon.
From any perspective; engineering, environmental or cost, the investments in renewables are dodgy in the extreme and are Australia’s little “BlackRock”.
KK
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I was recently sent a survey from my retirement fund. Basically it was about whether I thought the fund should focus on investing in the gerbil warming scam. Unbelievable!
There was an option to add any comments to the survey.
Should it be up to me to tell them that their one and only goal is to increase the value of my portfolio I wrote.
I am waiting for a reply…which will not be coming.
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If/when Donald Trump becomes President again (which he will if there is an honest election), he will work tirelessly to remove this economic burden from his people.
In Australia, doublethink applies. We keep getting told by the Left that wind, solar and Big Batteries are incredibly cheap power but the reality is it is the world’s most expensive.
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But subsidy farming is very lucrative. Take away the subsidies and I suspect the investment will be significantly reduced, leaving the likes of Blackrock holding stranded assets.
With the power Blackrock yield, is it possible for an Australian govt to withstand the pressure and remove the renewable subsidies.
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Probably not.
Or the compensation payouts would be huge.
There is no easy way out of this.
Australians will keep the huge economic burden of unreliables for decades, even if we got a rational government that cancelled unreliables altogether (due to compensation payments to the subsidy harvesters).
Australia will NEVER regain one if its main economic advantages which used to be inexpensive and reliable energy, at least not for many decades.
And it all started when that pathetic pretend conservative John Howard made a fundamental engineering error by allowing non-dispatchable generators to connect to the grid (not to forget about him also giving away much of our gas supply at world’s cheapest prices on a 30 year contract with no provision for market price or inflation).
That’s why politicians shouldn’t be allowed to make engineering decisions.
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I think Howard also brought in an Act to ban nuclear energy. His attack on Pauline Hanson was disgusting. ONE Nation is the only party thst believrs in democracy. They have a policy to introduce to the constitution citizen iniated referenda as in Switzerland.
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Subsidy offerings create subsidy farming. The offerings shackle the farmers into going along with everything else even when the “else” is stupid.
No doubt massive government (bureaucracy) has found this out. Spending our taxes to keep us shackled by the lucre.
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The Left have a carefully thought out strategy to taint Trump and we need to be very concerned about the future. Go to realclearpolitics.com and take a look at the polling figures for the mid-terms and you will see some very concerning trends. As things stand, both the House and the Senate could go either way. We just have to hope that, AS USUAL, conservatives are so afraid of being persecuted, and even physically attacked, that they are keeping their politics to themselves.
Take a look at the Left’s clever strategy. They are making everything about Trump and then they are using every opportunity to taint Trump’s image. Think of the smallest things like the claim that Trump threw food at the wall. Think of the raid on Mar-a-Lago. Irrespective of what comes out of it, it gave them the opportunity to run anti-Trump headlines for weeks. It is all very cleverly and carefully orchestrated and it is aimed at the ‘independent’ voter, who, because of the Left’s near monopoly on media, have no idea what a godsend the Trump presidency was for both America and, importantly, for the rest of the world, and also have little or no understanding of the harm being done to their country by the Left. If you doubt the effectiveness of the Left’s strategy, take a look closer to home. In the ‘sporting club’ that I belong to most of the members express surprise that some people question such things as 2020 and AGW. Why is this so? They are bombarded daily with propaganda and, like all ‘low-information’ voters, they don’t bother to look beyond what is fed to them.
And just to add to your worries, ask yourself why the Dems aren’t in a panic about the upcoming mid-terms, just as they weren’t in a panic in the lead-up to 2020.
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“And just to add to your worries, ask yourself why the Dems aren’t in a panic about the upcoming mid-terms, just as they weren’t in a panic in the lead-up to 2020.
The desperate Mara a Lago raid IS proof they are in a panic about the midterms.
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It puts Trump in the spotlight and, like all the other ‘things’ going on, it will be dragged out until the mid-terms and it will be used to create negative perceptions in the mind of the casual observer. It is going exactly as planned.
A further problem is RINOs. These are people who would gladly see the Dems win rather than see their self-serving Republican establishment power structure dismantled by the ‘New Republicans’. There’s a lot to be concerned about.
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8 out of 10 RINOS have been voted out of office. They are ex RINOS & the Democrats will never give turncoats a voice in the Democrat party!
8 down 👏👏👏👏 & only 2 to dump, permanently!
The last one to lose an election, Liz Cheney claims Her loss is due to a threat to democracy. Strange democracy they have…..70% voted against her! That’s the threat???
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Look DD
They think that if it was not true, the whole world would not be going alomg.
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Unelected Asset Manager behemoths playing God with shareholders equity … forcing Coy Board’s hands…. effectively installing woke agendas and Leftards at all levels until no force is needed.
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Yup. The power of global capital.
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Aloha! Last week the ETF “DRLL” launched in the USA and I participated in the first day trading. DRLL is the anti-fink oil and gas and alternative energy ETF. If you look at the complete portfolio of companies represented it is based on actual energy consumption where the least percent invested into energy companies is “solar” while their two top holdings are Chevron and Exxon. The “fink plan” is reverse where solar is first. Its only first because of government subsidies and handouts to the “davos doctrine” renewables which are trying to break the supposed “oil and gas” monopoly. Its not a monopoly if consumers chose oil and gas products. Without US government intervention there would be no green! What fink has going is a corrupt monopoly with no grass roots and all based on government paid fake “climate change” science. I believe there has to be a return to ROI over ESG otherwise its just all fraud.
Any company who has ties to China fails the ESG criteria. Thats about all companies listed on the NASDAQ. ESG is a joke.
DRLL LINK: https://www.youtube.com/watch?v=Y8np9iE89m0
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Consumers’ Research Launches Campaign Exposing How BlackRock Raises Energy, Housing Prices
https://www.breitbart.com/politics/2022/08/18/consumers-research-launches-campaign-exposing-how-blackrock-raises-energy-housing-prices/
See also:
https://aboutblackrock.com/
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Currently markets are saying black rock is undervalued- and is well placed in these recessionary times.
As to the call that it is not maximising shareholder value, markets are saying it is doing better than average.
So sound policy would be to buy the dip, woke or not, this is market capital chasing profit
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I would never invest in a company that makes money from unreliables. I would consider that immoral.
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you miss the point, they are out to make money, and they are good at it.
Woke investments pay just as well as others, there is no morality in profit isn’t that the mantra?
Strangely the complaints are coming from non-shareholders. those with shares are happy with their position.
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A parasitic company can make profits too. If they profit by sabotaging the system through collusion, threats and intimidation, should we admire them the same as a company that profits (Exxon) by producing something that freely consenting adults want to have and willingly buy?
Does someone pay you to defend the indefensible?
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So you want rules? who makes them? who enforces them? are they global?
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“Who makes the rules?” — What do you think a Democracy is Peter?
I repeat my question: Does someone pay you to miss the point, deny the obvious, and defend the indefensible?
I repeat, start with a real currency. Give people legal competition. Stop cartels that reduce competition. (Did you read the post? See Anti-trust)
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Aloha! The problem with that is the US government will not have the funds to bailout Blackrock pensioners. I say go ahead with larry fink’s money but stop buying woke with other people’s pension funds. Big unions like Calpers are buying into fink not separate pensioners. These unions don’t give their members a choice. I would bet 80% of Calpers pensioners can’t even tell you what ESG stands for and 100% have no idea what a Merkle Tree is! Let me ask you. Do you know what a Merkle Tree is?
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Peter, it is called Subsidy Farming!
These companies are tapping into the Federal treasury, having manipulated Government policy courtesy of the Green movement. Thai has been able to succeed because of the Green movements supposed care for the planet and their ability to corner the balance of power in Parliaments. The current Teal movement is an attempt to bolster the Green position.
All this will have the effect of knob bling the productive economy and leave the populace dependent on Government handouts.
Without a fight back against this Woke capitalism we are stuffed, and will be reduced to a slash and burn economy.
Go on, look that up!
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Yet their funds under “management” have dropped substantially.
” $152 billion dollars in total assets belonging to BlackRock, and that’s shrunk from $240 billion dollars worth back in 2014.”
Seems they have been backing horses that don’t even get placed.
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Funds under “management” 10 trillion.
Their own funds, 152 billion.
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‘ … black rock is undervalued …’
Something to do with the China connection and its association with Russia and Ukraine war.
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Sorry, don’t they run the “markets”? Just who would dare say otherwise?
BlackRock makes nothing. Their entire reason for being is leveraged against real workers. They are the thing behind the curtain.
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It’s bizarre isn’t it?
Consumers pay high prices for energy which is directed toward the profit of retirement funds consumers also invest in (but so do the Elites invest in such funds).
But at some point, energy will be made so expensive, nobody (non-Elites) will be able to afford it and profits will crash.
However, by then, all the cheap coal, gas and nuclear generation will have been shut down, and in Kaliforniastan they are even dismantling hydroelectric plants.
There is no easy going back from the destruction of the inexpensive, reliable energy supply.
It is not going to end well.
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The Left are masters at using and misusing the language for their own nefarious objectives.
Well, conservatives and fellow rational thinkers need to get a bit more savvy as well.
E.g. by referring to unreliables as “an economic burden”. That then will imitate the question from a true believer as to “why are they an economic burden”. Then you, the rational thinker, can explain.
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It seems to me that whenever the electricity supply fails or customers are required to cut back, the political non-left should demand that renewables step up production to fill the gap. The argument being that there are xxx megawatts of installed capacity and they aren’t supplying them at a time of need. In other words, the renewables are withholding supply.The aim is to make the renewables admit that they can’t deliver on demand.
No matter how many times we here say renewables cannot meet supply, it is simply ignored. If we can make the renewables admit it themselves, it might have an impact. And if they don’t reply, then maybe the argument that renewables are withholding supply can bite. Worth trying??
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An article in The Australian today, about an EU plan to extort money from importers, attracted the following comment on-line:
“The rules of trade are being weaponised with climate change.”
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What a fantastic move by West Virginia to protect their constituents & their county by holding Black Rock to account.
It is heartening to think that there are ways to stop these companies from acting like de facto states in politicising their use of their economic power.
In a time when we all despair about the apparent helplessness of ordinary people in the face of non elected power, there IS hope
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Yes, don’t think Australia is the only place to live. When things become outrageously stupid here there will be other places better to live in.
There is more to the world than the USA, the EU, and the old British Commonwealth, its just that we are not exposed to it all.
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Black Rock, Vanguard, etc have too much monopoly power, they need to be broken up.
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They only have so much power because government made monopolies for unreliables.
Allow coal, gas and nuclear to compete and their power will disappear.
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Its a lot worse than that, they already own most of the world:
https://stopworldcontrol.com/monopoly/
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The guys who make these docus about who owns what are fairly clueless on matters financial. Vanguard, BlackRock, and the like are index and mutual fund managers – they invest other people’s money. John Bogle who founded Vanguard noticed that most active fund managers cannot beat the stock index, be it the Dow Jones, S&P500, whatever. So his funds pretty much used computers to mimic the index. Trillions of dollars are now invested this way.
Where does the money come from? Pension funds in the main, also individual retirement accounts called IRAs in the States. High net worth individuals, foundations, and insurance companies also have massive pools of capital to invest and much gets parked in index funds. Vanguard and so on charge a small fee for managing this money. Because not much brainpower is involved in running an index fund, costs are low and so are commissions and fees. Which is why so many people and institutions place their money there.
Pension funds are massive investors. The largest one in the US is CalPERS – California Public Employees Retirement System. It has over $400 billion in its coffers. A large chunk of this will be farmed out to Vanguard, BlackRock and so on to manage.
Then there’s the pension funds of the other 49 states and all the huge corporations like Exxon, Ford, etc.
Are you getting it? There are mutual funds which only invest in other mutual funds. It’s a big industry.
Wall Street ain’t just a movie.
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I think the point is, who controls the funds, controls the companies they are invested in. If Black Rock and Vanguard own 20% of Apple, then Apple has to jump when they say so. In the end it can be a relatively small number of people, the directors running the funds, who can collude to have an enormous say. It is the people that control the funds, not the people that own the funds, that matter.
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Vanguard touting for your Aus money on regular TV ads.
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Feeding all this are the journalists. An opening paragraph from The Australian yesterday.
“Wriggle room for biggest polluters on carbon cuts”
“Australia’s high-polluting trade-intensive industries could have limited access to high-quality international carbon offset credits and offered more flexibility to slash emissions under the Albanese Government’s tougher safe-guard mechanism regime”
“The operators of 215 large industrial facilities -contributing 28 percent of Australia’s emissions -have been given a month to respond..”
So shut ALL our industrial facilities and save 28% of our ’emissions’. Or pay cash overseas for ‘high quality’ rights to pollute.
This is driving everything including Black Rock. Billions in cash for the right to POLLUTE.
Are they talking about cadmium, lead, arsenic, mercury pollution. Radiation? Poisonous organic compounds? Cyanide. Benzene. Pesticides. Dangerous industrial pollution?
No, they are talking about Carbon Dioxide. The stuff you are breathing out now and without which all life on earth would die quickly.
Carbon Dioxide is now a noxious gas. Legally. And must be stopped.
Or pay huge fines, overseas. Not even to the Australian government.
Of course Black Rock is interested. They are here to save us from ourselves.
The river of money has just started.
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And how are these carbon credits to be earned overseas? By EU/UN approved governments who do stuff, like growing trees somewhere else. But the CSIRO and NASA tell us that the world has vastly more tree cover already since satellites began looking. Another Brazilian rainforest, the size of Australia of trees. And best of all, they are all free.
NASA and the CSIRO say this massive increase in vegetation is a direct consequence of increased CO2. What they do not say is the obvious, that growing trees does not reduce CO2. So Nett anything is a fraud. There is no Nett, no balance between man and the planet, CO2 levels are independently set by the massive exchange with the oceans and the graph of CO2 is a dead straight line. So they tax ’emissions’ and imply something with which both the CSIRO and NASA disagree.
But if we want to keep our biggest industries (and who can even name them), we have to pay and pay and pay. Overseas. Through world merchant banks.
It’s not even taxation. It’s theft operated by the United Nations who are running the scam. And their friends, the giant merchants of Carbon Credits. And do carbon credits reduce CO2? No, of course not. Carbon indulgences run by the burghers of Brussels and the nobles of the UN and their friends the international money lenders.
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However NASA has amended its story, painting the trees as the brave warriors against CO2. And pushing the line that the world is not warming because of the trees! “In the fight against climate change, plants are the lonely-only defenders.” So brave!
And here, where they find negatives but agree that the world is greening.
But back in 2016 it was not political, so CO2 was greening the earth. But it is interesting that they also cite Global Warming as a reason for the greening. Which makes no sense. But then again, they are scientists and who understands science?
And now our only hope to stop CO2 is to pay someone nominated by the Albanese government, or our government will force our 215 largest industries to close.
My only question is why?
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And couldn’t we grow our own trees instead of paying for overseas ‘high quality carbon credits’. Or perhaps cheaper low quality carbon credits. Even this ‘high quality’ plays to the idea that you have to buy from approved suppliers, like Blackrock. Controlling the trade in worthless documents. Like the ‘certificates’ our electricity retailers are forced by law to buy if they buy coal electricity. For nothing. But perhaps if you pay more for worthless documents, you get guarantees written on very heavy and thick high carbon paper. Perhaps blocks of wood with gold lettering?
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93% of the planet’s CO2 is sequestered in the oceans. Trees and grasslands are nice but they are not doing the heavy lifting CO2-storagewise.
In any case, CO2 levels are pretty much irrelevant, unless they get too low, which, again, is unlikely to happen, and, if it does, there is probably not much humans can really do about it.
So, don’t worry, be happy! 😄
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And it’s 98% which is really very close to 100%. That’s why even a small change in sea surface temperature is significant.
While the casual claim without proof is that increased CO2 causes warming, the actual hard science is that warming causes increased CO2.
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IF CO2 traps some IR and radiates it (in all directions) and is well mixed in the atmosphere -both as claimed by NASA and the IPCC – then more CO2 means more IR radiated into space.
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Graeme, the arguments about back radiation are good. But the fundamental proposition is that CO2 is man made. If we don’t control CO2, whether it heats or cools is a moot point. We are paying billions to control CO2 levels and no one even mentions CO2 levels. They rail against ’emissions’, which mean nothing if they do not change CO2 levels.
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Hi Graeme,
As Will J and I have previously mentioned, the photonic billiard ball effect is not applicable.
Sadly for the warming theory, expelled energy (photons) doesn’t leave the atom until there’s a potential pull large enough to get it over the hump. When that happens the energy bundle moves towards the pull which is away from Earth’s warmth and towards the low energy environment of deep space.
Thus CO2 is a coolant in that situation.
Never trust the IPCCCCC.
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Re; “The river of money has just started”
Australia’s Orana battery energy storage system, a 1600 Mega Watt/Hr battery, if funded by Blackrock, will cost $600 Million dollars.
Yesterday the total energy demand required across Australia was 26,910 Mega Watt /hours,
according to the AEMO data dashboard website. Add up the demand of each State.
As the Greens are hellbent on banning gas and coal and there is no wind blowing across Australia, we will need 135 fully charged mega batteries.
Total cost of 135 of them is $80.73 Billion at 2022 prices. Labor cost estimates usually double or triple in Victoria.
Poles, wires and interconnectors and the cost of solar to charge 135 Mega batteries to produce 26,910 mega Watts is NOT included.
https://infrastructurepipeline.org/project/orana-battery-energy-storage-system
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Err ?…..that would be the typical instantanious POWER demand in MW, not the Total ENERGY demand ,.. which would be more like 500,000MWH !
So, that would require 312+ of those batteries to cover the days usage !
…actually, a few more than that as they are far from 100% efficient ..!
PS,.. your maths is way off even for your assumptions. ,
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Hi Mayday,
I am not at all certain as to where you obtained those values.
That figure of 26,910 was very likely megawatts, NOT megawatt-hours.
That is, it was the power required at the particular instant of time
that you viewed the AEMO data dashboard.
I am interested to learn how you determined the number of battery units required.
We need to remind policymakers that a battery is NEVER a generator.
The number of batteries required depends very much on how long they will be needed
to supply a given level of power production.
As we know, solar shuts down for more than half the 24-hour day.
Wind also routinely drops out, sometimes to nothing at all, for many hours at a time.
The batteries need time to recharge when the wind and solar come back, etc.,
so there needs to be sufficient battery capacity to cover all contingencies.
If, as our fearless leaders seem to think, they can impose a 100% renewables regime,
then it seems to me that there needs to be sufficient battery capacity for 10 days supply.
If we use your 26,910 MW as an average figure, and if we use the Geelong Big Battery’s
capacity as typical, then the number of Geelong Big Batteries (450 MWh capacity)
to supply the national grid for 10 days as the required contingency arrangement is:
( 26910 x 10 x 24 ) MWh divided by 450 MWh.
I get 14,352 Geelong Big Batteries.
That’s rather more than 135 BB’s.
I haven’t used the Orana data because it isn’t up and running yet.
But, even if you use Orana’s 1600 MWh figure instead of
the Geelong figure, that’s still a huge number of units.
Your figure of 135 shows that the scenario is untenable,
but, believe me, the reality is far, far worse than that.
Best regards,
Paul Miskelly
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Paul, 100% agree, as i posted above…
Also, the pricing of the Orana 1600MWh battery at $600 m is curious, since it was reported that the Geelong 450MWh battery coat was $300 m….which would suggest the 1600MWh size should cost more than $1.0 bn, ..
…particularly as battery costs are reported to be increasing !
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I’m sure that many state govts standing up for their citizen’s rights is the fastest and only solution.
And the shareholders need to wake up and demand that these WOKE extremists are voted out ASAP.
Private citizens have little chance to quickly change the situation, but state govts working with many concerned citizens can bring about change quickly using new legislation plus the use of heavy penalties against these treasonous bullies.
Never forget that every country’s defenses are at stake if they choose to abandon fossil fuels and instead rely on the idiocy of S + W energy.
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Something is Looming Geopolitically, and We Better Start Taking It Seriously
August 18, 2022 – Sundance
As a result of western governments’ taking collective action under the auspices of a ‘climate change’ agenda, we are on the cusp of something happening with ramifications that no one has ever seen before.
Western governments’, specifically western Europe, North America (U.S-Canada) and Australia/New Zealand, are intentionally trying to lower economic activity to meet the intentional drop in energy production.
This is the core consequence of the Build Back Better agenda as promoted by the World Economic Forum.
There is no precedent for this. Never before in the history of industrialized nations has any government intentionally tried to lower its economic activity. It has never been done with intent before because within the contraction nations get more poor, people suffer.
Not only has no single nation ever tried to intentionally shrink its wealth, but there is no precedent whatsoever for an alliance of nations to join together with the same purpose. While this might seem like an academic economic modeling exercise, unfortunately it is very real. What I am describing is happening right now, and we had better start talking about it before the unforeseen consequences start to become a crisis.
In North America (U.S-Canada), Europe and Australia, there will continue to be massive increases in food prices as a result of the collapse in energy production. Beyond the western nations there will be food shortages as a result of lowered harvest yields and less industrial food production. This is not controversial.
It is also not controversial that regions with harsh winter climates are going to be paying much more for scarce heating resources.
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Controlled demolition of the West before ushering in global Marxism probably to be run out of a Ministry in Beijing. Get ready to bow low to your appointed Climate Commissar. Daniel Andrews will be polishing his jackboots and practicing his kowtowing in eager anticipation.
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Been revisiting Solzhenitsyn’s Gulag Archipelago – people need to read it and see how
Communism/National Socialism works. In Soviet Russia, from the early waves of secret arrests in the 1920s
to the constant waves of arrests in the 1930s and 40s and horrendous treatment of prisoners. Those arrested
were not just State dissidents, but ordinary people, returned POWs, religious groups, even if you just sang
in a church choir, engineers, so many engineers and peasants arrested that Russia underwent a terrible famine.
With WOKE and censorship,lock downs and energy reduction, where are we heading? To the decline of democracy
and productivity that won’t end well for Western Civilization.
https://www.egr.msu.edu/~amezqui3/personal/extracts/the_gulag_archipelago.pdf
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And there’s a double whammy because all predictions suggest lower Western populations in future generations. Most kids today do not want their own kids.
Deliberately lowering economic activity (growth) with falling number of consumers (sales) sounds like a dooming strategy for a failing company.
We’ve seen that before. A takeover is normally very imminent. Hostile takeover likely by China without a shot fired.
I am thankful for the period of my life. Missed WW2 and Vietnam, relatively stable world affairs, and will be gone before the next world order.
Sorry kids I’m a lucky Baby Boomer … did my bit but you just can’t help stupid.
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I ALMOST NEVER RUN ACROSS A BROKEN GAS PUMP: Electric vehicle owners are fed up with broken EV chargers and janky software.
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And the EU (that’s Germany and France) is again demanding the right to form their own military to fight Russia? But the real nominated enemies for years now are America and the great enemy, Climate Change. Soldiers and weapons to fight Climate Change.
When does this stop? Even the die hards admit the world is not warming but the demands to stop warming are becoming desperate. Along with the demands for more cash and weapons. And the money men are circling, ready to cash in.
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For a start, those Republican governed US States could start up their very own State Banks as North Dakota has done.
North Dakota is the only state that has established a publicly owned bank. Founded in 1919, the Bank of North Dakota’s mission is to “promote agriculture, commerce, and industry” and “be helpful to and assist in the development of… financial institutions… within the State.”
This Bank sailed through the GFC with no problems. Unlike the Big US Banks.
Next, the Trustees of all of those State/Company Pension Funds need to be kept on their toes by the Pension Fund beneficiaries as to their Trustees Fiduciary duties and responsibilities etc, etc.
Next, as the Article indicates, the beneficiaries of those Pension Funds need to closely analyse the investment options that they are invested in (where they can that is) and make decisions accordingly.
The same goes for the holders of investment funds and investment options with private Fund Managers (Blackrock, etc, etc.).
Then and only then can People Power start to work and ‘Push Back’ gain momentum.
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This is where Australia will be very soon, with worse to come.
This one today is pretty amazing.
Sweden: Electricity Prices Up 400 Per Cent From 2021
The rise in price is said to be linked both to high gas prices in the rest of Europe and low electrical output from Sweden’s own means of energy production such as wind power, broadcaster SVT reports.
The fun thing about this paragraph is that Sweden has no gas power stations at all. Almost all it’s generation is due to either hydroelectricity and nukes (93%).
The problem is the interconnectors – Swedish power generators are in hot demand providing CO2-free electricity to wastrel European countries. So poor Swedes are being financially r@ped by the EU: if the interconnectors were blown up the electricity price would go down.
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A bit like Queensland…
States with unreliables need interconnectors. States with baseload suffer…
The prices in all five Australian states on the NEM were all raised in the last three months even though their generation mixes were so different. Interconnectors made that possible.
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Electricity prices..
A good friend in the UK just told me he has had to renegotiate with his electricity supplier for future supply.
He had been paying £80 per month, but his supplier has told him that will increase to £180 pm from Sept, !!….. but if he wants a 2 year fixed price contract, the best they can offer would be £300 pm !!!
In effect they are saying electricity will be unafordable in a few years……or they do not want to be a supplier ?
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More on the true cost of super expensive, TOXIC and UNRELIABLE EVs.
And the extra cost to charge your EV could be horrendous as electricity prices continue to soar in the EU.
Meanwhile our Bowen loony is doing his best to increase the price of new ICE vehicles imported into Australia. So why do these con merchants want to further penalise the average Aussie whenever they need to purchase a new ICE vehicle?
https://wattsupwiththat.com/2022/08/18/charging-electric-cars-like-spilling-liters-of-petrolhidden-losses-during-charging-are-huge/
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Original Source for that story: https://notrickszone.com/2022/08/16/charging-electric-cars-like-spilling-liters-of-petrol-hidden-losses-during-charging-are-huge/
Always good to reward the content creators…
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The Coalition obviously agree with this agenda. Not a whisper of opposition. Their silence on all Labor policies translates as implied acceptance of the energy policies, the Union policies, gender fluidity policies, not to mention THE VOICE. ( which will lead to minority rule).
With Morrison as PM one could see the implied acceptance from the Liberal’s stance .
Now with Dutton as leader that implied acceptance becomes clearer. Both parties are now leading the country down a path to disaster.
30
That report is a false representation of the facts.
EV power consumption is well defined and understood by anyone with the initive to check !
10
I knew we were in trouble when the corporations realised climate change was a chance to take ownership of energy. They need not concern themselves with the quality of the product, just taking ownership of it, guarantees extreme wealth.
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Government to impose penalties for dirty car emissions
The Albanese government is resurrecting a contentious plan to impose carbon emissions rules on new car sales to boost electric vehicle take-up and avoid turning the country’s car yards into “dumping grounds” for redundant stock no longer able to be sold in other markets.
In a coup for the electric vehicle industry and mostly European premium manufacturers such as VW, BMW and Mercedes, Climate Change and Energy Minister Chris Bowen will on Friday declare that “now is the time to have an orderly and sensible discussion” about the idea.
At a function organised by the EV lobby in Canberra on Friday, which will include three teal independents, billionaire Mike Cannon-Brookes, and the head of VW Australia, Mr Bowen will argue that introducing penalties on the sale of traditional internal combustion engines will “address the cost-of-living impacts of inefficient cars”.
– Utes to be hit hardest
– A ‘game changer’, VW says
– Teals push for more incentives
– ‘Charging anxiety’
The Greens on Thursday reiterated their support for a fuel efficiency standard – starting at 105 grams per km and ratcheting down to zero by 2030, when a “ban on new petrol and diesel” vehicles should take effect.
“We also want to see a $10,000 subsidy on every first electric vehicle, decreasing over time as the take-up of electric vehicles increases,” said Greens Deputy Leader Mehreen Faruqi.
Labor’s move adds to its Commonwealth fleet buying policy, which aims to reach 75 per cent EV leases and purchases by 2025, and a push to expand the charging station network density to an average interval of 150km on major roads.
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Wow. No more ICE new vehicles from 2030. Thank you, Australian voters, hope you can all afford a Tesla. You voted for Climate Action NOW. Seems the Mad Max future is imminent. ” It’s the last of the V8s, Max! ” And the last of the V6s, the turbodiesels, the flat fours, even the 1.2 liter petrol sippers won’t make the climate grade.
Bye bye Ford Ranger. Only the Thais will love you long-time now.
70
Obviously this will not work. EVs don’t have the grunt.
You need grunt to move stuff around Australia. Locomotives with diesel grunt. Ships with diesel grunt. Road Trains with diesel grunt.
These ‘Pollies’ are just a load of grunts with NFI.
50
Soon after the Biden administration announced a $7,500 subsidy when purchasing an Electric Vehicle, General Motors and Ford increased their prices $6,000 to $8,000. The Inflation Reduction Act seems to be working in reverse.
https://www.foxbusiness.com/politics/gm-ford-say-electric-vehicle-price-increases-have-nothing-do-dem-spending-bill
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The law of unintended consequences applies, yet again.
50
Well, as the “Newcastle Song” had it –
“Don’t you ever let a chance go by”
10
If ‘dirty, redundant stock’ is dumped here, why are we paying so much for junk.
20
That was part of starting the War of Independence
10
All that will happen is that 91 ron will be deleted, raising fuel prices by 12c a litre, then a future lowering of sulphur or Nox and Sox, so the theory goes that rather than pay extra for 95 ron, we will just run out and blow $70K on a battery car.
20
Charger rage, when you get to the charge station with 2km left in your battery and some goose has left his Tesla plugged in and gone for a coffee.
20
OK – Done
00
I suspect Big Oil & Gas are still behind part of the climate agenda, specifically the moves to shut down coal and nukes and replace them with lower-emissions natural gas. Not all energy is equally demonized. Of course the real climate zealots want to ban anything with a “fossil” prefix.
The big miners know renewables require huge amounts of steel, copper, and concrete. Concrete means rebar. Construction means jobs and juicy contracts. Follow the money.
Many different snouts in the climate trough, not only the obvious ones.
130
Yes, and they are all much smarter than the bureaucrats and politicians.
20
Which is not difficult.
00
New Ad Highlights What BlackRock CEO Larry Fink Is Doing With Other People’s Money
Consumers’ Research is after BlackRock again, and this time Executive Director Will Hild wants you to know how the asset manager is using the money of unsuspecting Americans to pursue a political agenda.
“BlackRock is using money that doesn’t belong to them to push an extreme agenda with no regard for American families who are paying the price not only now, but through their pension funds which are being weaponized to the detriment of their potential profits,” Hild noted, alluding to the firm’s fiduciary responsibility.
Hild’s organization launched a new national television ad to continue educating consumers. It points out that Biden’s chief economic advisor, Brian Deese, came from BlackRock. The video also talks about how the firm has been pricing American families out of the housing market by overpaying for houses it intends to turn into rental properties:
Consumers’ Research also sent a Consumer Warning to states whose economies have been negatively impacted economically in the last year. The list includes Colorado, Utah, Arizona, Nevada, Wyoming, Montana, New Mexico, Idaho, Alaska, Louisiana, Oklahoma, and Texas. Hild warned these governors:
Massive Wall Street firms are using your state’s investment dollars against its interests. They are leveraging the voting power of the shares they’ve purchased for clients to hamper American production and competitiveness. As a result, gas prices are surging, the cost of purchasing or renting homes is near record levels, and common grocery store goods are up more than 10 percent in the last year. This is largely due to firms like BlackRock pushing policies that are politically driven with no regard for the impact to the citizens of your state.
60
And what does Australia get for crippling ourselves and paying even hundreds of billions overseas? Nothing. Human activity has no effect on CO2. And Australia has 2% of tiny human CO2. So self flaggelation with carbon indulgences? No dams. No power stations. And soon no food?
So BlackRock executives can see the opportunity. Like carnivores.
No one is even pretending it makes sense. Certainly not the Chief Scientist. Or any of our other scientists. As Dr Peter Ridd demonstrated, you can get fired without superannuation if you dare speak out against public fr*ud. How many billions are now being spent to save the Great Barrier Reef which does not need saving, which means it never did?
When did Australians become so st*pid? Led by our politicians and supported by the Greens and the rich Teals who think everyone else can pay for their ridiculous moral posturing.
My flabber is gasted. How can Albanese keep a straight face? Or Bandt? We are saving the planet? Beyond comprehension.
What’s next? Do we hang out government signs at airports, “Welcome to the Smart Country.”
Bring back Tony Abbott. Removed because he called Climate Change ‘Crap’. He was right.
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Amazing isn’t it? Yet at the next election the sheeple will just vote Labor or Coalition.. Argue over their beers about which ‘leader’ is better…
Democracy, a failed experiment in giving the people some power over their future, a wonderful system for keeping politicians in power over their slaves.
The stupidity of the average person never ceases to amaze and amuse me!
00
Blackrock has $10 Trillion in assets
That is the cost of sufficient Grid Scale batteries to back up a wind and solar only electricity grid in Australia before EV demand is added to the grid.
Demonstrates the hypocracy of Blackrocks $1 billion “investment” in grid batteries in Australia
80
But Phillip, our beloved ABC and their fact checkers have this from one horse’s mouth:
” But that claim ignores important context, RMIT FactLab has found, with experts dismissing it as a “misinterpretation of the facts”.
As Lachlan Blackhall, who heads the Battery Storage and Grid Integration Program at the Australian National University, explained: “The claim is misleading because battery storage is not intended to provide full backup.
“We would never power the entire grid from batteries and, within this context, calculating the duration of battery backup is misleading.” ”
Do you think Ita will inform Albo and Co of this interesting discovery?
https://www.abc.net.au/news/2022-08-19/fact-check-checkmate-scotland-trees-windfarms-14-million/101345798
(The quote is from the third item at the link.)
Cheers
Dave B
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Don’t forget the cost of the extra wind generators needed to recharge the flat batteries after a wind drought.
Look at the UK Gridwatch figures for wind for the past month where actual generation has been 3GW as opposed to a couple of 2 day peaks at 10GW.
How big a battery would have needed and how many extra windmills to recharge them?
Even the solar has been less than impressive over the past 4 days at 3GW compared to 8GW the previous 10 days. The same argument would apply to recharging the batteries as with wind.
Also how do we balance the grid with the present scenario?
00
Hold on folks, the GDP of anything is us! The big bank is not much when you remember that the collective value is really us. They don’t produce a damn thing-we do. Get your head around that!
70
Add on to that: What if we all decide to pull our collective value out of their reach?
60
Meanwhile Francis Menton has provided a quick summary of the Koonin V Dessler debate and concludes that the disastrous S & W energy lunacy would cost 5 times the Dessler estimate if you include the REAL PHYSICAL cost of the system with necessary BASE-LOAD backup support.
BIG surprise NOT.
https://www.manhattancontrarian.com/blog/2022-8-16-report-on-yesterdays-soho-forum-climate-change-debate
50
When I first heard of BlackRock (does it really leave out the space between words?), I thought ‘great, a financial company that supports that great little black rock, coal’. Alas, it is just a wealthy and influential ship of fools.
Now where’s my t-shirt slogan:
Oh, yeah: Coal: the best little black rock ever.
OR
Coal: the only black rock to end poverty.
I could keep going…
80
https://www.cnbc.com/2017/06/22/blackstone-or-blackrock-schwarzman-and-fink-did-it-on-purpose.html
SEE LINK FOR REST
40
Is not a Black Stone embedded within the Ka’aba in Mecca’s heart – an agate or meteorite – where pilgrims circumambulate (counter-clockwise) 24/7/365?
Black Stone/Rock/Heart – people worship the oddest things.
70
Australia’s situation is much worse than the situation with Blackrock in the USA. Australia’s Future Fund and the Union Funds do not back any conventional coal mining or power generation.
https://www.futurefund.gov.au/-/media/future-fund—documents/communications-materials/2018_future-fund-investment-brochure.ashx?la=en&hash=A0AAFDC147367100E823E1F9535B94273893D223
I expect the reason BHP is getting out of coal is pressure from their big investors like Australia’s future fund.
If you are employed by the federal government or your union backers are pulling the government strings and the quality of your retirement depends on government subsidies then you will strongly endorse government subsidies.
Subsidy farming is now the make or break in any business these days. It has gone long past seed money to investigate new technologies. It is organised theft from the poor to the less poor. Those at the top of the subsidy tree have done extremely well.
There is a long way to go before it collapses or China simply takes control. China continues to increase its ownership of Australian coal mines and exports facilities.
71
Imagine in Australia having a government that actually cared, like these 19 US state governments.
110
My faith in America is coming back.
But Australia; Dandrews, Pirrouette, Margowun, Pallochet etc all on the receiving end.
Even Chyna doesn’t get something for nothing.
Still, cheap at half the price.
60
They not only do not care, they are all believers in the AGW hoax for mainly political reasons- there’s more votes in it. This is the text of one of the lates tweets from Peter Dutton-“Peak business groups and unions are calling for the moratorium on nuclear power to be lifted, amid a push to ensure Australia is “technology agnostic” during its transition to cut emissions. It’s time to have the discussion”. So, even Dutton does not question “…transition to cut emissions.” Now, his tweet could be written by some young millennial advisor who doesn’t know otherwise, so maybe there’s that. But basically it looks like the LNP are in lock step with both the ALP and Greens. There is no differentiation for any of the major political parties.
70
Ross, I don’t believe anymore that politicians think “climate change” wins voters except in ultra wealthy seats. They won’t question the carbon religion because they are afraid of being isolated and destroyed by the media and troops like GetUp. See Tony Abbott.
Thus Australian voters get the Uniparty. Only candidates that don’t threaten the swamp even get preselected.
130
fink – offline dictionary definition: (US slang) a contemptible person
If the shoe fits… 😃
70
Ratfink
40
Whitehaven Coal said in one of its reports that there was only one insurance company left in Australia which was willing to provide insurance for its operations.
80
WHC- I invested in that company more than 5 years ago. Since, profited in value by 143% ( ie price more than doubled) and their overall value increased by $1434 just today. So, clearly coal is dead. (sic)
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Oliver’s Twist, Policymakers Legislating Against the People – It’s Not About Going Green, It’s About Going Without
August 18, 2022 – Sundance
Last Saturday’s weekly monologue by Neil Oliver was a tremendous hit, helping to awaken millions of people from multiple nations about the true intent of this new governing system as promoted by policymakers on behalf of corporate interests [SEE HERE].
Earlier today (UK time) GBNews host Mark Steyn had Mr Oliver appear in studio to expand the conversation. What results from Steyn and Oliver is a brilliant segment outlining the nature of this new governing system. A system structured on the standard that disconnected policymakers are legislating to the needs of corporations.
When you remove the old “representative democracy” scales from your outlook and replace the lens with an understanding that representation now means representing the needs of multinational interests, almost all of the contradictions reconcile.
From that perspective, the Build Back Better or Green New Deal (climate change) agenda is not about replacing the system of energy production with a green system that duplicates the output. The intent of the new program is to produce less energy and then modify the uses of the now limited resource. In one of the examples given, 30 million gasoline powered cars are not expected to be replaced by electric vehicles, a personal transportation system of far fewer vehicles is the goal
60
JP Morgan trading Russian bonds, Putin back in the G-20, what war? Invite to get a deal on energy for the EU heading into the winter I suspect.
30
https://wattsupwiththat.com/2022/08/18/jordan-peterson-peddlers-of-environmental-doom-have-shown-their-true-totalitarian-colors/
60
You all should know:
The link https://www.newyorklife.com/newsroom/2021/barbara-novick-joins-board
Time to out all of them
110
You should know:
Thrivent (if you were Lutheran you’d know) https://www.thrivent.com/genesis-managed-portfolios
The hands of BlackRock….
60
blackrock… aka the government you never knew you had.
90
So ScoMo’s nickname too?
00
When are politicians going to work out that they’re our servants, not the other way around?
40
Larry is on the board of the WEF. 🙁
50
We were once lived under the looming fear of MAD … Mutually Assured Destruction.
We then moved to MAD … Morally Aimed Deception.
We are now in the third phase of MAD … Morally Aimed Destruction.
It’s cool though, a lot less radioactivity, slow rolling so the production of private jet fuel will not be interrupted, and casualty disposal resources will not be overwhelmed.
Beach and Mountain Chateaus can be built before labor shortages.
50
My day job is copy editing.
00
Blackrock and Larry Fink should be household names. The corporate world has gone woke because Fink’s company is one of the largest shareholders of many of the world’s and Australia’s largest companies (the other is Vanguard). Yes Mr Blackrock, whatever you say Mr Blackrock. Net zero? Sure thing lets do that and fool the little people into thinking its good for them.
Also on net zero, it is completely impossible because these people think the developing world can reduce enough CO2 to offset the growth in the developing world. That is completely impossible, yet too many in the west actually believe this. Agriculure is in great jeopardy – I hope Fink and all the elites have gone vegetarian or as I suspect they make an exception for themselves just like flying around in jets. Sad times we live in.
I wonder if Blackrock money is behind the rise of the “teals” in Australia?
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[…] 19 US States fight back against BlackRock the Political Climate Police disguised as a Monster Invest… […]
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