Essay by Eric Worrall
Squeezing the global economy dry to solve a fake problem.
The $13.6 trillion question: how do we pay for the green transition?
The public sector will have to provide about 30 per cent of climate finance globally, and the heat is building on governments to come up with ways of doing that.
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The bill will be immense. If average global temperature rises are to be limited in line with the 2015 Paris Agreement, climate finance globally will need to increase to about $US9 trillion ($13.6 trillion) a year globally by 2030, up from just under $US1.3 trillion in 2021-22, according to a report last year from the Climate Policy Initiative.
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Former US presidential candidate John Kerry, who stepped down from his role as the US special climate envoy in March, puts the challenge of meeting this bluntly: “We don’t have the money.”
The 80-year-old is now planning to turn his attention to climate finance to prepare for the phaseout of fossil fuels. “We have to put in place more rapidly the funding mechanisms that are going to actually fuel this transition at the pace it needs to be,” he says.
To do that, governments around the world are weighing up options from wealth taxes to levies on shipping. The US is planning to fund the IRA by raising $US300 billion over the decade by requiring large corporations to pay a 15 per cent minimum tax on their profits, as well as through a stock buyback tax, among other measures.
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Read more: https://www.afr.com/companies/energy/the-13-6-trillion-question-how-do-we-pay-for-the-green-transition-20240507-p5fpwo
The impact of the proposed tax squeeze on ordinary people would be unimaginable.
People in the USA and other Western nations are already reeling under the impact of excessive government spending on climate measures and other wasteful “investments” driving up inflation, coupled with the simultaneous attack on fuel and energy availability and cost. Adding to this burden would inflict hardship previously unknown outside of wartime or great calamities.
All for the sake of solving a problem which does not exist.
This is how great powers fall, not by the hand of a conqueror, but rotted from within by rulers who lose touch with reality, burdening the nation with their delusions, until the structure of society is crushed under the weight of unbridled incompetence. A conqueror, if they appear, merely delivers the final blow to a power which is on the brink of collapse. Let us hope it is not our turn to suffer that fate which has befallen so many throughout history.
RE: CO2 vs H2O
At MLO, the concentration of CO2 on June 5 was 426 ppm by volume. For 1 cubic meter of air the mass of CO2 is 0.837 grams. There is hardly any CO2 in the air.
At 70 deg F and 70% RH, the concentration of water is 17,780 ppm by volume. There is 14.3 g of water per cubic meter of air. Thus, water is 97.6% of the greenhouse gases in the air on a nice day and absorbs most all of the IR light.
Based on the above analysis, I have concluded that there is a coterie of climate scientists who are perpetrating the greatest scientific fraud in recent human history. Their motive is millions of dollars of easy money for “climate research”.
How do we put a stop to this fraud? It is costing us billions of dollars.
I am a retired organic with B.Sc.(Hon) and Ph.D.
Comment says:”For 1 cubic meter of air the mass of CO2 is 0.837 grams.”
Don’t think this is correct. There is at least one mole of CO2 in a cubic meter and that would be 44 grams.
1 cubic meter is not the volume of a mol. 1 cubic meter contains ~ 44.6 mol.
A mol is defined as the number of C12 atoms with a mass of 12 grams.
At 400 ppm, CO2 in 1 cubic meter would be the equivalent of 0.01784 mol of CO2.
1 mol of CO2 mass is 44.01 gram. In the 1 cubic meter at 400 ppm, the mass of CO2 is 0.785 grams.
At higher ppm, obviously, the mass will be higher.
At other than STP, the cubic meter mass of CO2 also changes.
John Kerry, the guy who knowingly and willfully was the face of a KGB “anti-war” front group back in the 1970s and knowingly and willfully lied to Congress with KGB manufactured lies about the Vietnam war.
He served in Vietnam–as he stated continuously during his campaign. His service was to advance his political career–not to advance the US military position.
Look up “Swift Boat” and “Kerry”.
Didn’t he get a Purple Heart (or was it a Silver Star?) for scratching his finger on a beer can (or something like that)?
Wasn’t it John Kerry who went to the IPCC and altered their summary report to conclude there was a definite anthropogenic signal in the data and analysis, a rewrite that had many of the science teams in an uproare? I seem to remember it happened during the Obama – Gore era.
Bigger and more lucrative to Gore and Kerry than the arms industry support to US politicians.
Kerry the grifter becomes a multimillionaire, if not a billionaire, through his climate scam. Now he wants to steal yet more from everyone, no doubt to enrich himself further.
There comes a time when people have to call a spade a shovel and call out Kerry as a criminal grifter. No pussy footing about, tell him in public what he really, really is. Don’t spare his feelings, humiliate him, destroy his reputation, expose his utter worthlessness and pointlessness.
The 80-year-old is now planning to turn his attention to climate finance to prepare for the phaseout of fossil fuels.
“Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019. Average monthly U.S. crude oil production established a monthly record high in December 2023 at more than 13.3 million b/d.Mar 11, 2024″
Looks like it might take a while…
There will never, ever be any phase out fossil fuels. Where do these old guys get these crazy ideas? As I said a few days ago, what fuel would be used for emergency vehicles? And the jet planes they fly around in.
Let me start by stating I have no respect for John Kerry. He needs to go away. He knows nothing about the things he is saying. He thinks the answer to all problems is to give the government more money. Giving the government more money never solved a damn thing. Government is the problem. That anyone still listens to this buffoon is truly sickening.
All the money you are forced to give to the government is the same as flushing it down a toilet. It’s mostly wasted! Withholding is a scam. People should be required to write a check to the government every quarter like I do. That alone would end their money seizure nonsense.
John and Joe were created via the same mold.
Neither has ever made a good decision.
It is amazing how these rich elites are so keen to spend my money on their hobbyhorses while remaining rich themselves. Chuck them all out.
Michigan is contemplating putting abroad use tax on vehicles and reducing the gas tax. Reason better fuel economy on cars and EV’s have reduced the income to the state. There is a charge on EV’s at registration to help offset the loss but that will go away if road use goes into effect.
Is this 13.6 trillion meant to cover the costs of 500,000 EV charging stations ?
$7.5 Billion Later, Biden Is Up to 7 EV Charging Stations. “My back-of-the-envelope math also indicates that building seven stations every two years will get us to Biden’s goal of 500,000 no later than the year 144,881 AD.
500,000 EV charge stations by Stardate: 2558449.32
Not sure it was 13.6 trillion, but hey, what’s a zero or two amongst friends?
People like him who push bogus climate doom narratives for a long time are exposing their mental illness since the evidence for their delusions doesn’t exist.