Ex-Head of Estonia’s Biggest Bank Speaks of Green Deal: We Are Highly Hypocritical

Interesting article sent to me by a reader from the FREEDOM RESEARCH substack.

Indrek Neivelt, a distinguished entrepreneur, investor, and former Chairman of Hansapank (Estonia’s largest bank), shared his candid views on the Green Deal or Net Zero climate policies in a conversation with Freedom Research.

Neivelt, reflecting on the Green Deal, stated,

“What I do understand is that there is a need to protect nature, that there is a need to consume less, that there is a need to make products that will last longer, products that can be repaired. Conservation of nature is common sense to me. I understand that. But I don’t understand the Green Deal.”

How can we have an expanding economy and at the same time use fewer resources to make that economy grow?”

He expressed confusion over the paradox of aiming for an expanding economy while simultaneously aiming to use fewer resources.

Discussing the economic ramifications of these policies, Neivelt highlighted the unique challenges faced by Estonia due to its geographical location. He mentioned,

“We live in conditions that inevitably mean a greater consumption of energy. Both for heating and transport.”

He further elaborated on the potential economic consequences, questioning,

“What happens to our competitiveness if energy is more expensive for us?”

“Energy is the whole foundation of today’s society. Without energy, there is nothing. Nothing works without energy.”

Neivelt didn’t hold back in pointing out the apparent hypocrisy of many Net Zero proponents. He remarked,

“Or the fact that the biggest Net Zero propagandists all fly into their meetings on their private jets. And once there, they all immediately start to worry about the climate.”

He also cited specific instances, such as the King of Sweden’s visit to Estonia, where the King’s mode of transport contradicted the green message being promoted.

The article also delved into the broader societal implications of these policies. Neivelt expressed concerns about shrinking freedoms and increasing regulations. He likened the situation to a cage that’s getting smaller, stating,

“Our freedom is getting smaller and smaller. The screws are being tightened quietly.”

He also touched upon the challenges of subsidies, questioning their long-term sustainability and impact on entrepreneurship.

The full article is definitely worth reading.

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J Boles
October 4, 2023 10:34 am

Thank goodness for the selfless green elites, always finding new ways for us peasants to do without luxuries, like petrol, and fertilizer, and food. So that they might have more!

Story tip – Jay Leno driving big E truck – (YT video) Jay Leno Hauls Tesla Semi with Tesla Semi – YouTube

Reply to  J Boles
October 4, 2023 11:34 am

That’s the best place for ANY Tesla. On a truck to the scrapyard!

October 4, 2023 11:01 am

What this guy says is common sense, what the CAGW thugs say is lying gibberish.

October 4, 2023 11:45 am

China and Russia are going green by reducing population…China over counted its population by 100 million …oops…and the pop is aging fast and the reproduction rate is in the tank….while Russia will have eliminated 300000 Russians and over 100000 Ukrainians by November…less humans…less CO2, no?

Peta of Newark
October 4, 2023 12:13 pm

News just in and the problem is solved – why they appear to be such hypocrites.

And it’s amazing simple – The Private Jets made them do it.
Not their fault at all, the actual airplanes did it.

Here’s how:“”I was kidnapped by my runaway electric car’

Reply to  Peta of Newark
October 4, 2023 12:26 pm

Using a phone while driving? Naughty.

John Oliver
Reply to  Peta of Newark
October 4, 2023 12:30 pm

I think Justine Trudeau’s jet forced him to do cocaine. Damn jets!

Reply to  John Oliver
October 4, 2023 2:57 pm

They feigned the breakdown, so he could recover from an overdose

Reply to  John Oliver
October 4, 2023 4:20 pm

If you want to get down, down on the ground, cocaine.

October 4, 2023 12:24 pm

Square peg, round hole.

“”Nothing works….”” That’s the general idea

October 4, 2023 12:26 pm

The western globalist blob doesn’t want economic growth – they want regression, less consumption, less energy, less food, less heat, less travel for the masses, not themselves of course
The Eastern developing nations (BRICS+) etc are going in the other direction, they are full on growth via fossil fuels and nuclear – they know the climate is just doing what it always has / will and that nut zero suicide is the road to ruin and further impoverishment, they’ve had enough of that and want what the West has had for 200 years

Joseph Zorzin
October 4, 2023 12:37 pm

The green ubermenschen have decided that it’s imperative that they fly their private jets because of the extreme importance of their work, saving the planet. We untermenschen should appreciate their sacrifice.

Richard Page
Reply to  Joseph Zorzin
October 4, 2023 6:15 pm

That’s very, er, evocative language, there.

John XB
October 5, 2023 8:13 am

“…that there is a need to consume less…”

Consumption = wealth. Consuming less = poverty. The ‘need’ is to consume more, not less in order to increase economic prosperity for all. See Industrial Revolution.

All resources are scarce and it is that which makes free market capitalism possible – the possibility to reduce to zero stock of anything produced – which turns scarcity into abundance so we can consume more and get wealthier.

Andy Pattullo
October 5, 2023 9:25 am

Wow, someone fully emerged in the world of finance who actually understands cause and effect, and who is not driving an agenda of citizen control and self enrichment with no concern about consequences. When we look around at our pathetic administrative and political leadership, this is the type of thinking we should seek in their replacements.

Reply to  Andy Pattullo
October 6, 2023 12:18 am

I doubt that very much.
He’s just another of the totally irrelevant band of virtue signaller Estonians who do nothing but talk while the country takes those EU subsidies.

Ansip warbled on for ages about Tallinn gonna be “Luxembourg on the Baltics” yea right!
Now anyone who is sensible realises Estonia has no future and has a disastrous demographic curve.
They can’t even agree on making a decent road from Tallinn to the Polish border, never mind the much vaunted north south railway project.

All they ever do up there is talk talk talk, talk up, and hype up the coutry, bla bla….
ie. this “Indrek Neivelt, a distinguished entrepreneur, investor,”
Yea right – yet another Estonian nobody.

Estonia a dead end.

October 5, 2023 11:59 pm

Estonia, the basket case economy where without EU subsidy the country goes under (like most of Eastern Europe).

To give some clarity.
Thanks to the Green energy subsidy my Eesti Energia electricity bill is 20% higher no matter if the wind blows or not.

It is also being used to finance solar panels which are utterly useless at 59 deg north for all of the winter, despite the fact Estonia has always been self sufficient in oil shale.

It is however unable to supply a vastly increased demand to run the larger and larger numbers of EVs.

Subsidy + subsidy + VAT tax + carbon tax + green tax. What are all these useless subsidies doing but distorting all markets?

So I see the elect price fall slowly now from a 0,2247€/kWh in 2022 to 0,18645€/kWh and now for us 0.171€/kWh because of gov intervention.

What I want to know is why in 2019-2020 it was this:-
Elektrienergia üldteenuse hinnaga
(Electricity at the price of the general service)
21,932 kWh, 0,0603€/kWh and why it’s now 3 x higher from the basic same sources as before.

Eurostat says Estonia is now – .2056.€/kWh

oh well, Germany .3279€/kWh
The perfect example of everything that’s wrong in Europe.

Denmark at an insane .4559€/kWh
Nuclear France at .2086 – less than half the price of wind powered DK.

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