California State Treasurer Pledges More Debt to Fight the Climate Crisis

Official State Treasurer Portrait of John Chiang

Official State Treasurer Portrait of John Chiang. By State of California – http://www.treasurer.ca.gov/portraits.asp, CC0, Link

Guest essay by Eric Worrall

“A billion here, a billion there, pretty soon, you’re talking real money” – attributed to Everett Dirksen

California first to sign Green Bond Pledge to fight climate change

Bond market to finance eco-friendly projects

By: Keith Carls
Posted: August 08, 2018 08:28 AM PDT

SANTA MARIA, Calif. – California finance officials are taking greener steps to battle climate change blamed by many for the state’s chronic, devastating wildfires.

“We know that our wildfires are becoming faster, they’re becoming more intense”, said California Treasurer John Chiang who signed the Green Bond Pledge on Tuesday, “we need to make sure we come up with the proper financing to build infrastructure so that Californians can protect themselves.”

Read more (includes a video): https://www.keyt.com/news/environment/california-first-to-sign-green-bond-pledge-to-fight-climate-change/778927009

Your money matters – remember to give generously so Californian politicians can finance large climate projects on your behalf, assuming you have any spare cash after paying your green electricity bill.

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68 thoughts on “California State Treasurer Pledges More Debt to Fight the Climate Crisis

    • The stupid : it burns… through money like it was OPM (other peoples money )
      And yes , they are addicted ….

      • every time I see the level of stupid these guys show, I think of the line from the song in the wizard of oz, “if I only had a brain”. I think everyone in CA has become terminally stupid.

        • A fraction of the amount they are trying to waste on reducing “carbon” , if spend on forest management, could actually have some impact on the REAL, instead of wasting it on an issue they are trying to pretend is the principal cause.

          This is the over riding problem with the “carbon” obsession : that inverted priorities lead to poor or even disastrous spending choices.

          Not only will the money on preventing “carbon” not change an iota, it will mean funds get diverted from where they could actually have an impact and do some good.

        • Well, think again, there are lots of people in California that opposed this kind of thing and by your your definitions are not stupid. Can “We” stop it? No, the politics are against it.

          • Randle, don’t make the same mistake as the commenter who said ‘everyone’. We even have British declared socialists who frequent this site and rail against the terrible science of “tipping point’ alarmist climate. There is no question knee jerk ideological types populate both sides of the issue. But here they are outnumbered by scientifically literate dissenters from the consensus crowd.

            Taking a position against the status quo can turn out to be wrong, but one can change one’s mind if convinced. It is a perfectly honorable position. Swallowing the status quo position without thought or examination and going into battle on it is easy and not as honorable.

          • “Lot’s of people in California that opposed this kind of thing”?

            Compared to the overwhelming clueless % that support such scams.

            A grifter will tell you that the best scams are the ones that the mark never even notices until long after the fact.

    • It’s la la land, don’t worry they’ll win the money back (and lose jobs to pay for it) by suing a few big Corporations with court cases based on fake science.

    • And one of those reasons is because of freaks like Forrest Gordon Clark who started the “Holy Fire” in Orange County. And without question, California authorities would be very tight lipped about others caused by similar crackpots.

      • Ah yes, the Holy Fire. Having mountain biked the Cleveland National Forest, it’s funny that they couldn’t bring themselves to use the real name of the trail where it started – the Holy Jim trail. Holy Jim was a recluse who lived up the Trabuco Canyon. His verbiage was significantly less than holy.

        My favorite trail, the Harding Truck Trail doesn’t exist any longer on MB maps. It was originally cut to aid in fighting wildfires, but the terrain consists of largely coarse sediments without a good imbedding matrix, thus it washed out everytime a significant monsoon rain hit. After one good rain the start of the trail had a 20 ft deep crater where a culvert had once tried to keep water from washing out the trail.

        • A few of the trails have been blocked but housing and resort development
          I liked the Holy Jim trail – little museum with a live butterfly display and then a mile and a half to the holy Jim falls.

  1. Any time someone in the government says “we need to make sure we come up with the proper …” you know they don’t have a clue.

  2. The Californian State Treasurer pledges more debt in the fight to discover any signs of Climate Crisis…… You would think that a man in his position would have acquired more common sense during his career.

  3. Californian politicians need more pocket (Other People’s) money?
    To help fill-up the pockets of crony capitalists?
    Who’s in whose pockets?

    • This is California. Crony Socialism is state approved. Anything related to capitalism ist verboten.

  4. Since they are unlikely to secede from the US and are most likely to be looking for federal funds to bail them out eventually, can we disaffiliate them from the Union? At least the southern part of the state. Maybe Mexico would take them. Need a plan to conserve those conservative bastions that do exist in CA while getting rid of the rest.

    • “Maybe Mexico would take them.”? What? Do you want the Mexicans to start building their own wall?

  5. We’ll be watching that Moody’s rating, maybe they can beat Illinois to junk bond status

  6. And who in there right mind would buy green bonds from CA? What rate of ìnterest would they need to offer to sell such stupidity?

  7. “…….after paying your green electricity bill.” Yes, we have the highest electric rates in the (continental) US. Thanks to ignorant boobs such as this guy. He just can’t help spouting the party line on the “climate change” nonsense re: the fires.
    Remember, you only get to vote for Democrats in this crazy “top two ” primary state.

  8. California seems to have no memory politically. Anyone who experienced Jerry Brown’s first two terms in the late 1970’s and early 80’s is either terminally ignorant or a masochist if they voted for him again. The “green projects” financed will probably prove to be Jerry Brown’s toy train.

  9. It requires carbon emissions to produce money; so borrowing the stuff is counter green policy.
    Further; If you do borrow it then you need to borrow more to finance the subsidies involved.
    To avoid going down this plug hole you need to SPIN like mad in a vortex of verbal inaccuracies.

  10. The reality is that the climate change we have been experiencing is caused by the sun and the oceans over which mankind has no control. There is no real evidence that CO2 has any effect on climate and there is plenty scientific rationale to support the idea that the climate sensitivity of CO2 is zero. So even if California spent an infinite amount of money and managed to remove all CO2 from the Earth’s atmosphere the actions would most likely end life as we know it on this planet but the effort would have no effect on the Earth’s climate.

  11. The Israelis have their Med-Dead Hydro project. California should investigate the feasibility of a Pac-Death Hydro project. Cannot get much greener than that!

  12. I wonder how much of this money will be diverted into activist’s pockets ?.
    After all spreading the word is very expensive nowadays

  13. Wildfires are faster in terms of reaching the front page, in getting political attention, in sucking up poor peoples taxes, in making excuses for crappy government policy, in diverting attention from all the things California’s government has a duty to do but has failed to do to reduce real social issues affecting peoples lives.

  14. What’s this “green bombs” I keep hearing about? I thought Cali was a peace-loving state. “Make love, not war”, that kind of thing. And who would they be dropping these things on, anyway? It’s an outrage.

  15. Speaking as Brit, I find California a bit of a puzzle. Beautiful scenery, charming people, but some of their politicians seem to have got an even bigger screw loose than over here.

    Is it something psychoactive in the water? Is it the after effects of politicians’ misspent youths taking drugs?

    Is it the “Ineptocracy”?:
    “A system of government where the least capable to lead are elected
    by the least capable of producing, and where
    the members of society least likely to sustain themselves
    or succeed, are rewarded with goods and services paid for
    by the confiscated wealth of a diminishing number of producers”.

    or is it the effect of a liberal education at UC? (In this case all Californian politicians should spend time “abroad”, preferably somewhere cold, where they can be de-programmed).

    • RCS. My hypothesis for California craziness is due to their ancestry. Their ancestors were mostly from the eastern and Midwest part of the country. These parts were fairly civilized and not over crowded but they loaded up their wagons anyway and headed for the free stuff, land and gold. Only the tough ones made it. Wacky and tough is what you got.

  16. The denizens of California deserve to have their tax dollars spent on stupidity. They, after all, voted for these nut jobs.

  17. It is a shame to see Cal fall so low, a State that supposed to have a very strong and very good economy.

    These days many undeveloped countries with their economies hunging on the ropes, can not get much of any loans ( debt) unless priory accepting report findings that claim most of the problems are due to climate change, and even any loan amount assessed only after a change in the legislation to accommodate and secure future green projects, is achieved and put in place.
    And the loans are managed usually by a selected board of green devotees.

    These days many such countries, due to their very weak economies. and pure desperation for funds for development accept, with no much choice, such debt (loan) conditions.

    It really is a shame to see a once shining economy, like that of California to have dropped so badly to such a low….. really a shame.

    cheers

  18. “SANTA MARIA, Calif. – California finance officials are taking greener steps to battle climate change blamed by many for the state’s chronic, devastating wildfires.”

    Are there still “more greener” steps left for Californian finance officials. Let it be.

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