Guest essay by Eric Worrall
After meeting Joe Biden and John Kerry in person, China, India and delegates of other developing nations have added another zero to their carbon ransom, and are now demanding a trillion dollars to tackle the climate crisis.
$1 trillion demand for rich nations to combat climate change as Joe Biden rips into China, Russia
China is among a group of nations demanding rich countries donate as much as $1 trillion to help tackle climate change.
China has joined India and a number of other nations in backing calls for rich nations to donate as much as $US1 trillion ($A1.35 trillion) to developed nations to bring emissions down.
But Beijing got a thumping from US President Joe Biden after China’s leader Xi Jinping was a no show at the COP26 climate talks currently underway in the UK.
…
“It’s a gigantic issue and they’ve walked away,” the President said on Tuesday.
“China is trying to assert a new role in the world as a world leader. (But) not showing up, come on.
“The rest of the world is going to look to China and say what value added are they providing? And they’ve lost in building influence with people around the world and all the people here at COP,” he added.
…
Read more: https://www.news.com.au/technology/environment/climate-change/1-trillion-demand-for-rich-nations-to-combat-climate-change-as-joe-biden-rips-into-china-russia/news-story/4bf08c86e4e0a13dbd2a0c0c4cc870ba
No doubt a trillion dollars would put everything back on track. Or maybe 10 trillion, if the price goes up again.
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They are laughing at us.
All they need to do to dominate us is demand a number that will bankrupt us.
They don’t care whether we take it or leave it but if we take it then they gain the world.
This has become a defence issue.
Russian and Chinese scientist’s climate models do not regard CO2 as the climate control knob and they are right.
The corruption of our scientific establishment has become an existential threat to western civilisation.
If they are after a number that will bankrupt us then they need to demand a lot more. One trillion dollars is just 3 Elon Musks or about 6 Jeff Bezos. Alternatively it is the same amount that the US government borrows every year to pay for its defence budget. So spread out over 20 years and between the G20 one trillion dollars is a trivial sum. Plus most of that will end up going to western companies to buy infrastructure and would in fact count as government subsidies. Germany for example gets rich selling machines to manufacture solar panels to China.
On top of existing debt and the cost of proposed policies ?
Stephen,
The current rate for a 10 year EU central bank bond is -0.14% so the EU could issue several hundred billions of euro bonds and make money. Even in the US interest on government bonds is below inflation so there is borrowing money if you are a government has never been cheaper.
Borrowing money from who? And where did the lenders get the money to loan?
Get real. They borrow fiat money from the unborn based on the fallacy that the unborn will earn it in the future somehow. Its a great idea, no one owes anything to anyone, just make promises and call them assets. Be sure to die before the foreclosure happens though.
The Chinese are furiously developing their own IP in everything from batteries to nuclear reactors and proudly declaring it every chance they get.
They won’t be rich for long when the Chinese start copying and improving the machines, and the Germans keep buying trillions in solar cells, turbines and batteries.
Did Joe Biden actually mean ‘value added’ or ‘gain of function’?
Now, now… it’s a donation! That means we’ll get a tax receipt, or something, right? 😉
take their demands from the reparation of $15 trillion china owes america because of their bioweapon known as covid19.
Is that ENSO meter broke, or did it just make a huge move towards cooling?
Won’t get anything if they don’t as for it.
No way could China get to Net Zero with only a $1 Trillion investment…let alone all the developing countries.
The lies and inaccuracies in this whole scheme are at least 1 or 2 orders of magnitude off.
The misnamed “US Infrastructure Bill” only asks for $500 Billion. What a joke when the cheapest route to Net Zero would be to build 3500 Nuclear Plants (@ur momisugly 2.2 Gw) which comes with a sticker price of AT LEAST $50 Trillion.
What a bunch of liars. They aren’t even hinting at the truth. Costs will be 50 to a hundred of times higher than a piddling $1 Trillion to De-carbonize the third world…especially if China and India are included…which is another crock.
If citizens ever saw the REAL PRICE TAG required to get to Net Zero, they might want a little more proof.
I also demand a £trillion to afford renewable (yet carbon riddled) energy bills
The American people must take great comfort with such a courageous leader in the White House, and someone of the caliber of Kerry to back him up.
And then there is Prime Minister Boris, the white haired statuesque figure taking the lead and charting the unchartable, in classic Winston Churchill phrases. We shall beat climate change in the oceans and atmosphere and send that fossil energy supply to hell.
It gives one a righteous glow of pride and optimism, made more complete with fresh RNA flowing through the veins, ready for the battle.
Tally ho all, rise and be seen.
So, let me get this straight. Are they saying they want $1 trillion free and clear on top of the several trillion they earn annually in trade, or are they going to stop taking that several trillion they earn annually in trade until we give them $1 trillion? Just asking for a friend.
$1 trillion over and above trade. India wants most of it in the form of technologies, not sure what China wants.
So they are going to shutdown all trade until they get this ransom? Go for it.
Don’t be silly. This is completely seperate from any trade. Obama and the UN promised the ‘developing countries’ a wheelbarrow of money each for ‘climate reparations’ or some such nonsense. China and India just turned up with a far bigger wheelbarrow is all.
So, the only way they get this loot is by holding the gun of shutting off trade to the world’s head. Got it.
“$1 trillion demand for rich nations to combat climate change as Joe Biden rips into China, Russia…”
I don’t think Joe Biden is going to rip into anything soon.
China and Russia didn’t even bother turning up for this party. The only shame is that they passed up an opportunity to view Loch Lomond and The Trossachs.
Better increase your yuan and crypto donations to Nancy, Schumer, and Uncle Bernie if you want that money to flow.
But Beijing got a thumping from US President Joe Biden
And I am SURE that left them terrified and trembling.
I guess they were really impressed by their mental acuity and negotiating prowess.
Sounds like Biden actually believes that COP26 is supposed to be significant.
Don’t worry. Joe will return home and submit all the COP26 financial agreements to the US Senate for its two thirds treaty ratification. He took an oath to uphold the constitution and he always says he will keep his promises. Just you wait and see.
Why on earth does anyone think China is a developing country? Its already well developed. Its per capita emissions are about the same as the EU.
Its been an amazing story, its development, quite extraordinary that a government should take such precipitous growth as its objective, and that a population should be capable of delivering. And its not over yet.
But the idea that having achieved in 50 years what took the West several hundred, it can still be considered a developing country? In many ways its a larger economy than the US. You doubt this? Look up the steel production and electricity generation numbers.
Its a completely mad idea that its a developing country any more in need of aid than the US or the UK.
Actually, the US and the UK are in desperate need of aid. And the more they shut down their domestic FF production, the more true that will become.
Their 100 billion was partly in loans. We’ve seen that before. Loan poor countries the money to buy stuff they don’t really want (inefficient/inappropriate technology). Then they have to pay back many times the original loan but their economies haven’t improved. The poor countries leaders skim off billions. The people selling the technology make billions. The people who have to pay the loans back stay poor.
Funny Money.
A trillion is about the amount of money it would take to complete the R&D, commercialization, manufacture of real high tech energy solutions and revision of energy distribution infrastructure that would reduce the consumption of fossil fuel a factor of 8-11 by virtue of increased efficiency and alternative electrical generation options. This would be awesome if: 1) it empowered families, farms, local economies at reduced energy prices factor 5-6 lower than current prices, 2) enabled the USA to create new giant global markets for excellent high tech energy efficiency solutions to sell to the world. 3) and make obsolete old expensive energy production and distribution tech and infrastructure paradigms that would improve the air and water quality of local communities.
We live in an age where the only solutions empower digital/information/communication tech companies. by creating solutions for problems and needs created by the existence of previous generations frivolous solutions for needs and problems that those solutions created. Did we really need all the digital toys we have now? What is the down side? Blogging downside or upside? Science or politics?. Logic or influence and so on?
The only other solution that is currently being sought : 1) raise taxes and 2) print more money and try to win the geopolitical currency/commodities (fossil fuel) game.
( Siding with Iran obvious is hurting us a the fuel pump…because the fossil fuel market is fundamentally political because it is controlled by an actual global cartel and defacto collusion….. and so has all our other commodities (oats, pork bellies etc) empowered by defecto collusion via algorithmic data mining)
No solution for fossil fuel exists. All we have are banners of a new age (electric cars)… with no signs of the new age on the horizon other than Elon stock marketeering at a time when the geopolitical push is working hard to prevent said new age. There is no logic in the propaganda. it is all existential and mythic. Reality has been set aside which is easy to do when it is miss-represented and encapsulated in a hand held gadget.
No solution for fossil fuel (hydrocarbon fuel) is currently in existence. And none are on the horizon other than to reverse the 15 year old trend to exit nuke power. So in the end, all the carbon dollars yap is nothing but smoke and mirrors BS… with no actual real solutions for American local communities.
The game is a bad one. We need to stop playing it.
Okay, I’ve got it now: promise publicly to reduce and/or stop your CO2 emissions and you can extort half a billion bucks from any guilt-ridden government.
Got it.
I will henceforth (or maybe hencefoward?) wear rebreathing equipment when I am not in the comfort of my personal space (my cave), when I am out and about running errands and getting things I need, and I will confine my own personal emissions to the confines of my personal dwelling place, starting when a half billion bucks are deposited to my account.
And by bucks, I do not mean the antlered sort of buck. I mean cash money, moola, greenbacks, etc., and I’ll meet the Brinks truck at the door to my bank.
Fair enough?
Now, how long I will endeavor to persevere at this task remains to be seen, but I will absolutely not provide a refund of any kind just because I go outside my dwelling space occasionally.
That’s my story and I’m sticking to it.
That’s peanuts Dementia Joe will just get them to print more. It’s worked up till now with 40% of all American cash ever printed having been printed in the last year.
Can’t remember where I saw that figure but I did go looking to check it. Although by the end of the print run they probably won’t be able to afford the paper to print it on.
Oh how the mighty have fallen.
James Bull
China can have the $1 trillion right after they pay the world the 10s of trillions it owes in reparations for unleashing the wuFlu on the world.