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Finally 19 US States are hitting back at BlackRock the financial behemoth, and not a day too soon.
A light in the tunnel…
Americasroof
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 […]
Jim.henderson
Some nice Banker people have turned up to give us the batteries we need to save the world. What could possibly go wrong?
The Leviathan BlackRock will soon spend a billion dollars on big batteries in Australia. It is the largest asset manager in the world — with some $10 Trillion in assets to direct. To put that kind of power in perspective, the entire GDP of Australia is about $1.4 Trillion, so if BlackRock chose to throw its weight around, to hypothetically, improve its chances of making a profit, it won’t need an army, it just needs to hint “nice business you have there”, and the path will presumably clear. There are only two countries on Earth with larger GDP’s — America and China.
If BlackRock was a country the Foreign Investment Review Board of Australia would need to pay attention to potential conflicts of interest. But as it is, BlackRock flies under that radar while it bullies other companies and governments to do things to “save the world” which also happen to make profits for BlackRock.
If say, the voters of Australia voted against Climate Action as electricity bills drew blood, it’s hard to imagine […]
Governments pushing meat-free diets for weather control might want to follow the other science…
A 20 year study of 26,000 women showed that people who ate vegetarian diets were 33% more likely to break their hips. This is no small point because hip fractures are a surprisingly bad thing. Short term mortality risk increases by 2 to 8 fold. (Not just a 20% increase but a 200% increase or worse). Hip fracture victims are more likely to go back to hospital, and not for their hips but mostly for other things like infections and heart conditions. Sadly as much as 17% of their remaining post fracture life may be spent in a nursing facility. (see Lo et al 2022)
Vegetarian women are at a higher risk of hip fracture
Webster et al, University of Leeds
Among 26,318 women, 822 hip fracture cases were observed over roughly 20 years—that represented just over 3% of the sample population. After adjustment for factors such as smoking and age, vegetarians were the only diet group with an elevated risk of hip fracture.
Researchers can only guess why and suggest vaguely that it might be a lack of […]
What will electricity companies do if a million UK customers say they won’t pay their bill? We might find out in six weeks or so.
A group called Don’t Pay UK are gathering pledges from fed-up UK consumers, and so far 75,000 Brits have signed up. The Twitter account @dontpayuk started in June, and already has 91,000 followers. The group draws inspiration from the Poll Tax protests thirty years ago which likely ended Margaret Thatchers reign as PM.
As commenter MrGrimNasty says the latest estimates have the UK energy bill price cap at a [shocking] £4,700 by April next year, remember it was about £1200 hardly 2 years before then.
With 12 million people in the UK facing energy poverty, there may be plenty of takers in the civil disobedience movement. The nation is only 6km away from 1,000 trillion cubic feet of shale gas. OK, so it’s 6 kilometers of solid rock, but if it were war-time, how long would that take? (Especially when the hole is already drilled. The hardest rock apparently is the paperwork just to stop it being concreted back in.)
…
Don’t Pay UK
It’s simple: we are demanding a […]
The US will not be able to meet the 2030 targets without this legislation (and all those subsidies)
After seven months of negotiations, and the big plan being rejected then shaved and sliced and diced, Senator Manchin has rejected all climate and energy rules. Inflation is to high and too painful…
Manchin pulls plug on Biden’s climate plan The New York Times
WASHINGTON — Senator Joe Manchin III, Democrat of West Virginia, pulled the plug on Thursday on negotiations to salvage key pieces of President Biden’s agenda, informing his party’s leaders that he would not support funding for climate or energy programs…
Without action by Congress, it will be impossible to meet Mr. Biden’s goal of cutting U.S. emissions roughly in half by the end of this decade. That target was aimed at keeping the climate stable at about 1.5 degrees Celsius of warming compared to preindustrial levels.
“Political headlines are of no value to the millions of Americans struggling to afford groceries and gas as inflation soars to 9.1 percent,” said Sam Runyon, a spokeswoman for Mr. Manchin….
Because Democrats hold the Senate by a bare 50-50 majority, Mr. […]
It’s just an investment: Big Pharma spends twice as much on advertising as it does on developing cancer drugs.
Think about that. Most drugs are only prescribed by doctors so why advertise on TV at all? It’s not like patients are wandering through Walmart looking for a Pfizer. Should I get the Glaxo instead?
It turns out that the advertising money is not buying customers it’s buying the media. And it’s not paying to show the world something, but to hide it instead.
As Mark Steyn says, for the first time in history every person on Earth needs the same medicine, and four doses of it, no questions asked. The silence is complete: There are $15,000 million reasons why MSNBC, CNN, and all the rest didn’t ask the FDA or the TGA to “show us the data”, or even to explain why the data had to be hidden for 55 years or even 75 years. When politicians signed secret deals on our behalf the media didn’t demand to see the contracts, they wanted to know why it wasn’t done sooner. It’s the same reason they mock cheap drugs that reduce Covid by 63% but get excited about every new […]
It’s just another day in the global energy crisis: Years of climate goals are evaporating
When your currency is backed by renewables… | 1 year of Euro/USD
The threat of the Russians cutting off gas completely through Nord stream 1 has focused Europe on the blessings of coal and the reality of surviving winter with only windmills and solar panels to keep warm.
Germany, France, Austria, Netherlands, and the UK have already changed plans to shut coal plants or have plans to revive old ones. Poland is buying coal directly for homes. Hungary has now also declared a state of emergency and said it will boost gas production and stop exports. No sharing allowed now.
Only two years ago Greece was going green — phasing out brown coal but now the Greek power corporation has been told to stop the phase out of coal. Last year lignite provided only 5% of the electricity in Greece, now the aim is 20%.
Hungary declares ‘state of emergency’ over threat of energy shortages
Euronews
Budapest says it will boost its annual production of natural gas from 1.5 billion cubic metres to 2 billion cubic metres. The […]
Nearly every decision Joe Biden has made just happens to be the same as what President Xi would have preferred.
The keystone pipe, energy dependence, the Afghanistan debacle, the end of tariffs, jailing critics of China, and allowing Chinese companies strategic control and access. Then there’s the Hunter Biden laptop…
It’s excellent to see Tucker packaging this message so well.
Tucker Carlson rips the Biden family’s relationship with China and what it really means for global order
Partial transcript (full copy at the link above)
Last summer, a group of American intelligence analysts working for the U.S. government issued a report on the origins of COVID.These people work at CIA, NSA, a bunch of other agencies, and they concluded that the coronavirus may very well have been manufactured in a lab by the Chinese military.
America has been the dominant power in the world for more than 100 years, since the end of the First World War, when Europe destroyed itself. Empires destroying themselves always pave way for new empires, something we should keep in mind at the moment.
The coronavirus reshuffled the global order. It crushed the American economy. It […]
The bad news for Sydney-siders is that floods have been happening to them for all of history and probably a lot of prehistory too, though the ABC and BOM don’t mention it. This week the flooding in Windsor appears to have peaked at almost 14 metres. But in 1867 the water peaked at 63 feet or an amazing 19 metres.
Not to dismiss any of the suffering of the current flooding in Sydney, because I’m sure it’s horrible. Just people need to know the Bureau of Met isn’t telling them the whole truth, and climate grifters are exploiting their pain so they can nab a few more grants, or sell some solar panels.
Almost all the Eather family died in the Hawkesbury flood of 1867.
The Guardian laments that For Hawkesbury residents flooding is now a part of life and blames climate change. But nothing has changed since 200 years ago. For the first thirty years of European settlement, floods hit the Hawkesbury river one after the other, people died, and houses were washed away. Back then, people were in danger of starving when the crops failed. Flooding would have been a very big deal.
A little book […]
Winning: The new Supreme Court decision is much bigger than the climate wars
Over the last 50 years the Deep State Bureaucrats had become Rulers-defacto and finally the Supreme Court has put the hand-brake on. Instead of unelected agencies deciding national policy, the Supreme Court said, rather radically, that Congress should make decisions of great political significance. Sounds awfully like “Democracy”.
But as far as the Environmental Protection Agency sees it, if the voters are too stupid to elect the correct people, then Congress can’t make the right laws, so it’s up to the EPA to save the people anyway.
It’s what you do when you are Omniscient.
Or as another Ian says: they are only doing “what God would have done if he had truly understood the situation”.
The Supreme Court Restores a Constitutional Climate
The Editorial Board, Wall Street Journal
This has been an historic Supreme Court term, and the Justices kept it going to the end with a major 6-3 decision Thursday (West Virginia v. EPA) reining in the administrative state. The subject was climate regulation but the message should echo across the federal bureaucracy.
The question was whether the Environmental […]
Marcus Wong Wongm
Effectively — the AEMO (the Australian Energy Market Operator) is the taxpayer funded advertising agency for the Renewables Industry. The point of the latest AEMO super-report, apparently, is to get Australian taxpayers or consumers to foot the bill for the high voltage lines that the unreliable industry desperately needs but can’t pay for itself.
The AEMO has declared we need to rush to cough up $12.7 billion to build new interconnectors in Australia. That’s $500 from every man woman and child and let’s call it what it is, a Gift Card for the Renewables Industry. The net benefit of all that money will be to allow wind and solar industrial plants to connect their unreliable product to the grid we already have, and to the storage products that we still have to pay for, and all so that their green electrons will make the weather 0.0 degrees cooler in a hundred years. Australians alive today will pay now and basically get nothing but views of more criss-crossy-steel-wires and spires, and more wind towers too. Sing Hallelujah.
The 104 page Blueprint imagines all kinds of scenarios except for an actual free market, true competition, consumer […]
Cunning Plan: New Australian PM to set up an Office of Climate Change Threats, but not an Office to study the Threats of Climate Action
Shut down Australia and save 0.01 degrees.
Admiral Chris Barrie will be paid to worry about how seas rising by 1mm a year might affect our supply chains, but not about how making electricity ten times more expensive might destroy manufacturing in Australia.
If we had to actually build our own nuclear submarines will China still be happy to sell us the steel? Will we have an aluminum smelter left in the nation, and how long can we run that on solar panels and batteries? Are 2,000 kilometer long high voltage lines an easy target for hostile forces? Will electric vehicles be easier targets for cyber hackers or EMF weapons? Could dust bombs sabotage 2GW of solar panels? Would paint bombs be worse?
If we managed to build one nuclear submarine by 2040, will it be the most reliable baseload generator left in the national energy market and should we plug it back into the grid so we can build another sub?
So many questions…
Anthony Albanese to order intelligence chief to examine […]
These small wins matter. Cancel Culture is about shutting people up — and even if it’s just a dumb joke being cancelled, the danger is that each minor win gives power to self-annointed Thought Police. The Grand Sacred Cows of our culture are created through a thousand irrelevant outrages.
Bill Maher, comedian, savages The Washington Post and Felecia Somnez and half the Millennial Gen:
For the Australians who missed it in our election week:
The Ministry of Truth was quietly axed in the US after just three outrageous weeks.
The New York Post Editorial Board, May 18th
Nina Jankowicz just quit and the Disinformation Governance Board is dead. It’s the best possible ending to a move that was demented from the start.
Whatever the Department of Homeland Security thought the DGB would do, the board’s ham-handed launch (and very name) could only feed the direst suspicions. The US government has no business determining what’s “disinformation” — certainly not via an Orwellian shadow department, housed within a national security agency.
Celebrate the wins.
10 out of 10 based on 57 ratings […]
Would you like blackouts or floods with your Green Burger?
Tumut Generation Station No. 3 Snowy scheme | Joe “velojo” A
Here in Weather-Dependent Renewable World the chief crash test dummy is struggling because of yet another bit of terrible luck. We desperately need the only reliable renewable energy we have to generate while reliable but-badly-maintained-coal is breaking — and our national grid sits on the edge of blackouts. But Lordy No! Oh the schadenfreude — the dams are all full. Seems we have too much water thanks to the La Nina we didn’t predict, and the excess rainfall that wasn’t supposed to happen, and the dams that weren’t supposed to fill. Now if Snowy Hydro releases too much water to make electricity they may flood lower areas.
You can’t make this stuff up. Hydroelectric dams serve two purposes and sometimes they conflict. If we are lucky, we might avoid both blackouts and floods, but we won’t avoid the bonfire of electricity bills that are coming.
Ponder the impossible quandry of the Green religion. Like the Escher puzzle of Energy — It’s always the weather’s fault. If only we could use enough renewables to get perfect weather we […]
In France the government is banning events “because of a heatwave” of 40 degrees C (104F) — as if adult mammals cannot figure out whether the temperature is too hot for their own health. Ancestors of mice and rats worked out their own temperature sensors and behaviour changes 200 million years ago. It’s a Big Government attempt to infantalize and gaslight the whole population. Will they obey?
It’s only the region around Bordeaux but will French teenagers accept being told to stay home in forty degree heat, something that millions of humans live with all over the world every summer?
The Counter Signal: Heatwave lockdowns: Region in France bans outdoor gatherings
“Everyone now faces a health risk,” official Fabienne Buccio told France Bleu radio, after announcing the regional restrictions around Bordeaux. Outdoor events – including, ironically, annual ‘Resistance’ celebrations – are banned until the officials declare the heatwave is over. They’re even restricting some indoor events that don’t have air conditioning.
BBC: Outdoor public events have been banned in an area of France as a record breaking heatwave sweeps across Europe.
Concerts and large public gatherings have been called off in the Gironde department around Bordeaux. […]
So it’s a new record. In the 20 years since the National Energy Market formed it has never operated on such a vapor thin margin. Only a few days ago Paul McArdle at WattClarity thought a mere 15% instantaneous reserve plant margin was a headline event, but tonight the grid survived (so far) on a tiny 3% Instantaneous Reserve Plant Margin NEM-wide. Things were so tight the NSW Minister for Energy sought emergency powers to force coal companies to provide fuel to coal generators for the next 30 days on his say so. Presumably next on his list would be emergency powers from God to make the wind blow.
Two years ago Australian taxpayers spend $13 billion a year in climate action (Moran). As researchers at ANU noted, Australia was leading the way — installing more megawatts per person than any other nation on Earth. (Blakers) Despite being the fastest growing and sparsest population, on the most remote nation which was practically a quarry and farm built on coal and uranium deposits, Australian political leaders rushed to compete for green booby prizes in Beautiful Weather Contests.
And the toll from the bonfire in prices is just starting with Iron […]
The Renewable Crash Test Dummies: Test in progress
A LaTrobe Valley Coal Plant
Day #3: Huge Yallourn coal plant in Victoria loses 2 of 4 turbines. The AEMO suspends the whole market. Blackout warnings continue. Australians are being asked to conserve electricity. It’s just another day in the forced transition we don’t have to have.
How much lower can we go? Half of the generators from the ultra cheap brown coal Yallourn plant went phht yesterday. This was “unplanned”. It normally makes 20% of Victoria’s electricity. It’s owned by EnergyAustralia (China Light and Power) which is keen to close it early in 2028 and has a special secret deal with the Victorian government to do so. Perhaps China Light and Power is scrimping on those maintenance costs?
Warnings about potential blackouts exist for all five states on the National grid during the next 48 hours. The Minister for Energy, and the head of the AEMO, and several state Ministers have asked Australians to turn off all the non-essential electrical items. The NSW Minister asked people not to use their dishwasher tonight. Go first world modern nation! Meanwhile Matt Canavan wonders why people can’t use their dishwashers but the […]
All the rules are breaking.
The price market broke on Sunday night and now the interconnectors rules are broken too. The whole Eastern five state “National” grid is flying seat of the pants — the reserves are so incredibly thin that there are LOR3 forecasts — meaning Lack Of Reserve Level 3 rolled out for all five states. It doesn’t mean blackouts will happen, but it means all the protective layers of this onion are gone. The system is running bare.
UPDATE: There were some blackouts in Sydney’s northern suburbs last night. “Millions of homes” were apparently told to conserve their power in Brisbane and Sydney. Welcome to RenewableWorld!
ht/ WattsUp, Eric Worrall, and RicDre
The price market broke on Sunday night when for the first time the AEMO imposed somewhat anachronistic price setting clauses it had never used. By fixing the wholesale price in Queensland, market bidding suddenly phase-changed into a twilight world where prices were set too low (at an obscenely high $300/MWh, but not high enough now), and generators didn’t want to bid. So offers to supply “Yo-Yo’d” and the AEMO had to run emergency orders of a different kind to […]
The Queensland grid is in crisis — the forecast price for nearly the entire next 24 hours is $15,000 per megawatt hour.
I have never seen a graph like this one. It’s a “white knuckle ride” as Paul McArdle describes it. The IRPM (or Instantaneous Reserve Plant Margin) is just 8%. “This shows total Available Generation of 31,679MW ready to supply aggregate ‘Market Demand’ of of 29,201MW at this point … so a surplus of only 2,478MW NEM-wide.” But only last week there was a record day where the grid demand was 32,000MW — the highest winter demand day for years.
AEMO
Reserves are incredibly thin, not just in Queensland, but also in NSW.
AEMO
Market Notices from the AEMO are flowing like confetti. There is an Actual Lack of Reserve Level 2 (LOR2) in Queensland as of 6pm to 8pm. There is an LOR2 running for NSW as well, and an LOR1 for Victoria. If things shift up to LOR3 that means blackouts are likely, and LOR3s are forecast — in QLD tonight and in NSW tomorrow night. The margins are thinner than they look. Because extra generation on one part of the grid may […]
Starving for any attention, the carbon-haters need to find a reason to get into the inflation debate. CO2 keeps rising but crops are up, forests are greener, tropical islands are growing, mangroves are expanding, and the world is in more danger of being overrun with cheap soy and corn than by rising seas. Whatever. The disaster-bus will find a way to blame fossil fuels for everything that’s bad, as if through some miracle EV’s and windmills will make pork cheaper.
It’s a cult:
Climate crisis is ‘battering our economy’ and driving inflation, new book says
Edward Helmore, The Guardian
Forget Ukraine, coronavirus, corporate greed and “supply chain issues”, when it comes to inflation the climate crisis is the real, lasting, worry, according to a new book, and one that’s only likely to get worse. Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change
“I don’t think people have realized that climate change is an economic issue now because it’s always been seen as an environmental, health or social issue,” says Keefe. “The fact of the matter is climate change is battering our economy.”
Any long term […]
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The nerds have the numbers on precious metals investments on the ASX
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