by James Rickards
October 24, 2024
from
DailyReckoning Website
It's no secret that the vast majority of the so-called elites are
advocates of climate alarmism and are taken in by the Green New
Scam.
Whether this preference is based on ignorance of the science,
ideological zeal, a willful desire to hurt American growth or simple
greed because of their investments in Green New Scam
infrastructure varies case by case.
The typical upper-income supporter of the climate cult including
academics, media figures and celebrities is probably ignorant of the
fact that,
there is no evidence that
CO2 emissions cause
"climate change" and that the real causes natural, such as are
solar cycles, volcanoes,
ocean currents and atmospheric moisture not caused by humans.
Climate Alarmists Have It Backward
The historical record actually demonstrates that warming periods
produce higher CO2 levels - not the other way around. CO2
doesn't cause warming.
It's caused by natural warming...!
In other words,
climate alarmists have causation completely
backward.
Climate alarmism is based almost entirely on computer models, which
depend on the inputs the modelers themselves build into them.
A
model is only as good as the inputs and assumptions programmed into
it.
Virtually every one of these models has overestimated warming,
sometimes by orders of magnitude, because it's based on faulty
assumptions that overestimate the impact of CO2 on
climate.
In other words, it's junk science. But they keep relying on these
models because their political agenda requires it.
Climate - The New
"Communism"
There's no doubt that a fair number of neo-Marxists embrace the
climate scam because they know it damages U.S. industry, raises
costs to U.S. consumers and helps to undermine the U.S. economy.
Following the end of the Cold War and the collapse of communism,
anti-capitalistic collectivists admitted that they needed to promote
the climate agenda because the only way to combat global warming is
through collective action.
It requires a coordinated global effort
that limits national sovereignty.
The neo-Marxists are impervious to evidence; they just want to hurt
America and wasting money on windmills instead of building new
refineries is a good way to do it.
That leaves the greed crowd.
The Real "Green" in the Green
Agenda
They're early investors in,
-
windmills
-
solar modules
-
lithium car batteries
-
EVs
-
charging stations
-
carbon credits,
...and other
infrastructure of the climate scam...!
They stand to make billions of dollars off the
narrative with help from extravagant government subsidies.
They don't really care if it all collapses in the end (which it
will) as long as they get rich at taxpayer expense in the meantime.
All of this behavior is clear as far as it goes.
What is not clear is the extent to which the
Green New Scammers are doing this with your money.
The best example is multibillionaire Larry Fink, who runs the giant
BlackRock investment fund. Fink has been aggressive in promoting the
climate scam along with racial quotas, DEI and defunding police.
He's entitled to his opinions.
But is he entitled to pursue his
radical agenda with pension fund money from conservative states and
institutions?
Fortunately, a backlash has begun against Fink and his
fellow wokesters.
More state pension fund managers are beginning to pull their funds
from BlackRock and other investment managers that pursue far-left
policies not in the best interests of their beneficiaries.
This
backlash may not change Larry Fink's lifestyle...
But over time, it might change the world for the
better.
The EV Sham
A major part of the climate agenda includes electric vehicles (EVs).
I've been warning for years that EVs aren't
feasible as a transportation solution for more than relatively few
Americans and that they are little more than glorified golf carts
despite the $70,000-and-up price tags.
In the first place, EVs don't cut carbon emissions.
The car itself
does not have emissions, but it's charged with electricity from
power plants that do.
The batteries are made with poisonous chemicals and metals including
lithium, cobalt, copper and nickel that come from mining operations
that use enormous amounts of water and electricity to extract the
needed materials.
It takes thousands of tons of ore to extract enough critical
minerals to make one battery.
EVs don't take a charge in extreme
cold, and the batteries can't hold a charge.
Travel range is grossly overstated for many
reasons, including the fact that EV car heaters drain the batteries
(with internal-combustion engines, ICEs, the engine makes heat which
can easily be directed into the car to keep passengers comfortable
with no additional energy required).
Resale values of EVs are close to zero because buyers of used EVs
have to shell out $25,000 or more for new batteries after the
vehicle is about seven years old.
The list of drawbacks goes on...
Most Americans have resisted EVs because they understand the
disadvantages. But many Americans were drawn to the false promise of
emission-free transportation and other ridiculous claims by the
Green New Scammers.
Now even the most committed EV buyers are waking
up.
I Want My ICE Car Back
A fairly recent survey by consulting firm McKinsey and Co. shows
that 29% of EV owners in nine major economies want to return to
ICE (Internal Combustion Engines)
vehicles.
When the sample is narrowed to just the U.S., 46%
of those surveyed want to return to ICEs.
The McKinsey officials who conducted the survey claimed to be
"surprised" by those results. That probably says something about the
fact that McKinsey experts were just as deluded about EVs as the
buyers surveyed.
When breaking down the results,
-
45% say EVs are too expensive
-
33%
say they have charging concerns
-
29% are concerned about the limited
driving range
The truth is that the EV was invented in 1837 and reached the peak
of its popularity in 1910 just before the mass production of
internal-combustion cars by Henry Ford.
The American public got it right when they
flocked to the Model T.
It sounds like they're getting it right again after a brief
infatuation with the false promise of the EV.
The bottom line is that,
the Green New Scam is falling apart...!
It can't happen soon enough.
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