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Bubbles and Backlashes
Bubbles and Backlashes
Image: trialsanderrors/Flickr CC.
Financial markets have been turbulent as of late with no end in sight. A sagging global economy could overwhelm America’s recovery efforts with toxic effects on key climate change and clean energy initiatives now underway.
The Federal Reserve’s recent decision to postpone an interest rate hike is but one reflection of their deep global concern. In a world of multiple, interrelated systems, a sneeze in one global system could cause pneumonia in another; ultimately triggering a perfect storm.
As the global economy worsens and bubbles start to burst, an over-fixation on economic recovery could relegate promising clean energy and climate change initiatives to a secondary status, or worse. The geopolitical blips on the radar screen are ominous. Consider this:
1.We’ve been warned
Global asset, credit and debt bubbles are on the cusp of bursting. My email “News Flash” warned of this last May (See: “Bubblemania is Contagious – Five Warning Signs”). The punctured commodity bubble has already demonstrated the economic fallout to nations exporting raw materials. Imagine the impact of multiple bubble bursts all at the same time. Bottom line: Bubbles always burst; it’s not about if, but when.
2. American limitations
America’s economy is strong compared to many others, but not strong enough to lift the world back into prosperity. In fact, the opposite could occur. China’s declining growth rate (See: “The Chinese Ripple Effect“), deep economic malaise in Europe, Japan, Russia, Brazil, OPEC nations and others, and a slowdown in global trade are taking a toll. Bottom line: Global economic headwinds will be difficult to overcome in the foreseeable future.
3. Low on ammo
In an effort to recover from the Great Recession of 2008 and stimulate growth, our Federal Reserve and central banks worldwide have “printed” money, devalued currencies, created an easy money environment and purchased debt (Quantitative Easing). In addition, governmental fiscal policies have piled on huge deficits and debt to stimulate growth.
– See more at: http://transitionvoice.com/2015/10/bubbles-and-backlashes/#sthash.XM1igyNv.dpuf
Clean Energy Finance Corporation: Tony Abbott defends decision to axe wind, solar from renewables spending
Clean Energy Finance Corporation: Tony Abbott defends decision to axe wind, solar from renewables spending
Prime Minister Tony Abbott says it is “no secret” he wants the $10 billion Clean Energy Finance Corporation (CEFC) abolished, but while it is still in place it should be as useful as possible.
The Opposition and the Greens have accused the Government of trying to get rid of the taxpayer-funded authority by stealth, by issuing a new directive to stop the CEFC from investing in wind farms and household rooftop solar projects.
“The Parliament set up this corporation with a very expert board and very expert staff to make these decisions free of political interference,” Opposition environment spokesman Mark Butler said.
“What we see now is Tony Abbott trying to nobble this corporation for his own ideological purposes.”
But Mr Abbott says it is not useful for the CEFC to invest in established technologies that can easily attract private funding.
“The best thing that the Clean Energy Finance Corporation can do is invest in new and emerging technologies, the things that might not otherwise get finance,” he said.
“That’s why we’ve got this draft direction there.”
The Government has twice tried and failed to win parliamentary support to shut down the statutory authority, and Mr Abbott has previously described the wind turbines as “visually awful”.
The directive on wind and solar stems from the deal the Government struck with crossbench senators earlier this year to reduce the Renewable Energy Target.
Part of that agreement said the Government would write to the CEFC to ensure “significantly” increased uptake of large-scale solar, emerging renewable technologies and energy efficiency.
…click on the above link to read the rest of the article…
Pope Francis’ Encyclical Is A Sincere Call For Climate Action, Economic Justice
Pope Francis has released his long awaited encyclical, or teaching document, on climate justice and the environment, and it flies in the face of everything climate deniers stand for.
The encyclical is officially called “Laudato Si (Be Praised), On the Care of Our Common Home,” and it makes a compelling case for humanity’s moral responsibility to “protect our common home” by tackling the root causes of two of the greatest interlinked global crises of our time: climate change and poverty.
“[T]he earth herself, burdened and laid waste, is among the most abandoned and maltreated of our poor,” Pope Francis writes. Echoing his earlier critique of capitalism and inequality, the Pope links the pollution and waste degrading our environment directly to our “throwaway culture” that, unlike nature, does not seek to reuse and recycle every resource as a valuable constituent of the circle of life.
“We have not yet managed to adopt a circular model of production capable of preserving resources for present and future generations,” the Pope writes. He faults this mode of consumption for creating global warming, and concludes: “Humanity is called to recognize the need for changes of lifestyle, production and consumption, in order to combat this warming or at least the human causes which produce or aggravate it.”
The Pope unequivocally embraces the science showing mankind is responsible for global warming:
“A number of scientific studies indicate that most global warming in recent decades is due to the great concentration of greenhouse gases (carbon dioxide, methane, nitrogen oxides and others) released mainly as a result of human activity.”
He specifically calls for policies to change the way we power human society:
…click on the above link to read the rest of the article…
Stop oilsands expansion, Canadian and U.S. researchers say
Group cites concerns about carbon pollution, environmental contamination, aboriginal rights
More than 100 Canadian and U.S. researchers are calling on Canada to end expansion of its oilsands, for 10 reasons that they describe as “grounded in science.”
“Based on evidence raised across our many disciplines, we offer a unified voice calling for a moratorium on new oilsands projects,” said a statement issued Wednesday by the group, led by academics at the University of Waterloo, Simon Fraser University and the University of Arizona.
The statement, signed by a range of researchers including biologists, political scientists, physicists, economists and geographers, including a Nobel Prize winner and several Order of Canada recipients, is being sent to Prime Minister Stephen Harper, MPs and the Canadian media.
The group says it has requested meetings with federal politicians to discuss the science behind their reasons in favour of the moratorium. Those include concerns about carbon emissions making climate change worse, hampering the shift to clean energy, environmental contamination, aboriginal rights, and potential effects on international policy. The researchers also cited evidence that stopping oilsands expansion won’t hurt the economy.
Marc Jaccard, a professor in the School of Resource and Environmental Management at Simon Fraser University who co-authored the statement, said the group is targeting the oilsands primarily because most of them are Canadian.
“So of course you try to clean up your own backyard before you start pointing your finger at others,” Jaccard said.
Carbon deal signed
He added that the scientists are not calling for existing oilsands projects to shut down — they just don’t want new ones to start up.
…click on the above link to read the rest of the article…
The Social Costs Of Capitalism Are Destroying Earth’s Ability To Support Life
The Social Costs Of Capitalism Are Destroying Earth’s Ability To Support Life
I admire David Ray Griffin for his wide-ranging intelligence, his research skills, and for his courage. Dr. Griffin is not afraid to take on the controversial topics. He gave us ten books on 9/11, and anyone who has read half of one of them knows that the official story is a lie.
Now Griffin has taken on global warming and the CO2 crisis. His book has just been published by Clarity Press, a publisher that seeks out truth-telling authors. Griffin’s book is a hefty 424 pages plus 77 pages of footnotes documenting the information that he presents. Unprecedented: Can Civilization Survive The CO2 Crisis? is no screed. The book is a carefully researched document.
Readers often ask me to write about global warming, chemtrails, vaccines, and other subjects beyond my competence. However, I can see that Griffin has made a huge investment in researching climate change. His book provides a thorough account under one cover.
Griffin concludes that civilization itself is at stake. His evaluation of the evidence is that humans have about three decades to get CO2 emissions under control, and he sees hope in the agreement between Obama and Chinese president Xi Jinping that was announced on November 11, 2014.
Griffin argues that instead of rushing to their own destruction like lemmings, the human race must accept the moral challenge of abolishing the fossil-fuel economy. He makes the case that clean energy permits most of modern society’s way of life to continue without the threat posed by ever rising emissions.
…click on the above link to read the rest of the article…
Renewables Highly Competitive Though Not Yet At Scale | EnergyPolicyForum
Renewables Highly Competitive Though Not Yet At Scale | EnergyPolicyForum.
Investment in renewables worldwide has picked up steam. It is possible that total clean energy capacity installed in 2014 will be greater in non-OECD countries than developed nations for the first time. Oil and gas companies have long touted an expected upward growth trajectory in energy demand and assumed that they would enjoy the rewards almost exclusively. Interestingly, demand in these countries is leaning towards renewables now rather than conventional forms of energy.
This is beginning to be seen in share prices as well. Examining share performance of various solar and wind companies, it is clear that impressive returns are being generated. Further, the future looks bright. Costs and scale have not really been exploited fully and yet the technologies are providing grid parity already.
Clean energy is growing in developing countries because the economics make more sense. Many of these countries have limited grid infrastructure. Why invest large sums of money in infrastructure for hydrocarbons when renewables offer a more cost effective alternative. Wind, for instance, is significantly cheaper for industrial users now than hydrocarbons in many non-OECD countries. And solar runs neck and neck. But what is truly promising is that wind and solar are not fuels but technologies and as such they will become more and more efficient and cost effective. Hydrocarbons on the other hand offer volatility in pricing and finite supply.
Most non-OECD countries pay a great deal for electricity. In a new report called Climate Scope 2014, Bloomberg New Energy Finance (BNEF) stated:
