In this newsletter:
1) King Charles III: The climate prophet of doom
Real Clear Energy, 4 May 2023
2) Nations deeply split on climate goals at Berlin summit
The Washington Times, 3 May 2023
The Washington Times, 3 May 2023
3) Energy security first: Norway set to accelerate Arctic oil and gas drilling
OilPrice.com, 3 May 2023
OilPrice.com, 3 May 2023
4) India's coal production soars 23% in 5 years
Mint News, 3 May 2023
5) Coal to dominate India power mix in 2030, additional capacity will be required
Bloomberg, 5 May 2023
6) Australia's Northern Territory government gives green light to fracking in massive shale basin
ABC News, 3 May 2023
Mint News, 3 May 2023
5) Coal to dominate India power mix in 2030, additional capacity will be required
Bloomberg, 5 May 2023
6) Australia's Northern Territory government gives green light to fracking in massive shale basin
ABC News, 3 May 2023
7) Oklahoma bans more than a dozen woke banks from doing business with the state
Fox Business, 3 May 2023
8) 'Woke' bank put on notice: 19 US states threaten legal consequences if JPMorgan Chase doesn't stop 'persistently discriminating'
Daily Mail, 3 May 2023
Fox Business, 3 May 2023
8) 'Woke' bank put on notice: 19 US states threaten legal consequences if JPMorgan Chase doesn't stop 'persistently discriminating'
Daily Mail, 3 May 2023
9) Ford is losing roughly $60,000 for every electric vehicle sold
The Daily Caller, 3 May 2023
The Daily Caller, 3 May 2023
10) Energy bill anxiety: Half of UK consumers fear payment struggles
Energy Live News, 4 May 2023
Energy Live News, 4 May 2023
11) Paul Homewood: How the ‘world disaster’ figures lie
The Conservative Woman, 5 May 2023
The Conservative Woman, 5 May 2023
12) And finally: Net Zero drive could kill Britain's town centres, report says
The Construction Index, 4 May 2023
Full details:
The Construction Index, 4 May 2023
Full details:
1) King Charles III: The climate prophet of doom
Real Clear Energy, 4 May 2023
By Rupert Darwall
Real Clear Energy, 4 May 2023
By Rupert Darwall
Here’s hoping that the reign of King Charles will be a happier affair than his failed forecasts of climate doom. Long live the King.
This Saturday’s coronation of King Charles III marks a significant moment in Britain’s history. No previous constitutional monarch has expressed his political views so openly. Unlike his mother and grandfather, whose opinions, if they had any, remained unknown to the general public, the king’s record-setting seventy years as heir apparent to the British throne saw him define himself as a deeply committed environmentalist.
In 2000, the BBC invited the then-Prince of Wales to give the last of the 2000 Millennium Reith lectures on sustainable development. Charles spoke of his belief in the “bounds of balance, order and harmony in the natural world which sets limits to our ambitions and define the parameters of sustainable development.” He name-checked the founders of the modern environmental movement—Rachel Carson and Fritz Schumacher, authors, respectively, of Silent Spring and Small is Beautiful. He embraced the precautionary principle, warning that the absence of hard scientific evidence of harmful consequences from genetically modified (GM) crops should not be taken as a green light to exceed nature’s limits.
Instead of looking to science for all the answers, mankind should work with the grain of nature, Charles argued. If a fraction of the investment going into GM technologies was devoted to improving traditional systems of agriculture, “the results would be remarkable,” he declared. He then praised fellow Reith lecturer Vandana Shiva, an environmental campaigner and director of the Research Foundation for Science, Technology and Ecology in New Delhi, for condemning large-scale commercial farming “so persuasively and so convincingly.”
Unfortunately for the people for Sri Lanka, Shiva also convinced the Sri Lankan government to ban GM crops and chemical fertilizers and switch to organic farming. The results were worse than remarkable; they were disastrous. According to Matt Ridley, within months of Sri Lanka going organic, “the volume of tea exports had halved, cutting foreign exchange earnings. Rice yields plummeted leading to an unprecedented requirement to import rice. With the government unable to service its debt, the currency collapsed.” Soon after, the government collapsed, too. Street protests forced President Gotabaya Rajapaksa to flee to the Maldives in an air force jet.
In a 2013 speech on protecting rainforests, the prince’s rhetoric became distinctly unroyal, accusing those who questioned the need to act as belonging to “the incorporated society of syndicated skeptics and the International Association of Corporate lobbyists.” This would have come as news to his father and sister. Asked in a 2020 interview whether she discussed farming with her brother, Princess Anne replied, “Yes … occasionally, but rather short,” adding “I don’t even go down the climate change route.”
According to the terms laid down by his son, Prince Philip would also be numbered among the syndicated skeptics and corporate lobbyists. In 2018, Philip wrote to Ian Plimer to congratulate him on his book The Climate Change Delusion. Prompted by Ridley’s 2016 Global Warming Policy Foundation lecture on how carbon dioxide emissions were greening the earth, Prince Philip had lunch in the House of Lords with Ridley and Nigel Lawson.
Father and son clashed on wind farms. In 2011, a wind farm developer reported that Prince Philip had told him that wind farms were “useless, completely reliant on subsidies, and an absolute disgrace.” In his movie “Harmony—A new way of looking at the world,” Charles speaks of wind energy “working with nature’s freely-given forms” and the need to “end our dependence on fossil fuels.” In the film’s opening sequence, showing a wind turbine in a meadow, Charles intones, “Time is running out.”
Indeed, time has run out for Charles’s forecasts of climate apocalypse. In March 2009, Charles warned that only 100 months remained to avert “irretrievable climate collapse.” That forecast expired in 2017, with no climate collapse.
This Saturday’s coronation of King Charles III marks a significant moment in Britain’s history. No previous constitutional monarch has expressed his political views so openly. Unlike his mother and grandfather, whose opinions, if they had any, remained unknown to the general public, the king’s record-setting seventy years as heir apparent to the British throne saw him define himself as a deeply committed environmentalist.
In 2000, the BBC invited the then-Prince of Wales to give the last of the 2000 Millennium Reith lectures on sustainable development. Charles spoke of his belief in the “bounds of balance, order and harmony in the natural world which sets limits to our ambitions and define the parameters of sustainable development.” He name-checked the founders of the modern environmental movement—Rachel Carson and Fritz Schumacher, authors, respectively, of Silent Spring and Small is Beautiful. He embraced the precautionary principle, warning that the absence of hard scientific evidence of harmful consequences from genetically modified (GM) crops should not be taken as a green light to exceed nature’s limits.
Instead of looking to science for all the answers, mankind should work with the grain of nature, Charles argued. If a fraction of the investment going into GM technologies was devoted to improving traditional systems of agriculture, “the results would be remarkable,” he declared. He then praised fellow Reith lecturer Vandana Shiva, an environmental campaigner and director of the Research Foundation for Science, Technology and Ecology in New Delhi, for condemning large-scale commercial farming “so persuasively and so convincingly.”
Unfortunately for the people for Sri Lanka, Shiva also convinced the Sri Lankan government to ban GM crops and chemical fertilizers and switch to organic farming. The results were worse than remarkable; they were disastrous. According to Matt Ridley, within months of Sri Lanka going organic, “the volume of tea exports had halved, cutting foreign exchange earnings. Rice yields plummeted leading to an unprecedented requirement to import rice. With the government unable to service its debt, the currency collapsed.” Soon after, the government collapsed, too. Street protests forced President Gotabaya Rajapaksa to flee to the Maldives in an air force jet.
In a 2013 speech on protecting rainforests, the prince’s rhetoric became distinctly unroyal, accusing those who questioned the need to act as belonging to “the incorporated society of syndicated skeptics and the International Association of Corporate lobbyists.” This would have come as news to his father and sister. Asked in a 2020 interview whether she discussed farming with her brother, Princess Anne replied, “Yes … occasionally, but rather short,” adding “I don’t even go down the climate change route.”
According to the terms laid down by his son, Prince Philip would also be numbered among the syndicated skeptics and corporate lobbyists. In 2018, Philip wrote to Ian Plimer to congratulate him on his book The Climate Change Delusion. Prompted by Ridley’s 2016 Global Warming Policy Foundation lecture on how carbon dioxide emissions were greening the earth, Prince Philip had lunch in the House of Lords with Ridley and Nigel Lawson.
Father and son clashed on wind farms. In 2011, a wind farm developer reported that Prince Philip had told him that wind farms were “useless, completely reliant on subsidies, and an absolute disgrace.” In his movie “Harmony—A new way of looking at the world,” Charles speaks of wind energy “working with nature’s freely-given forms” and the need to “end our dependence on fossil fuels.” In the film’s opening sequence, showing a wind turbine in a meadow, Charles intones, “Time is running out.”
Indeed, time has run out for Charles’s forecasts of climate apocalypse. In March 2009, Charles warned that only 100 months remained to avert “irretrievable climate collapse.” That forecast expired in 2017, with no climate collapse.
Subsequent dating of doom was pushed further out and became less precise. In 2015, the 100-month deadline was stretched to 35 years.
A 2021 paper on extreme climate forecasts tabulates 79 predictions of climate-caused catastrophe dating back to the first Earth Day in 1970. Charles has the distinction of being the only individual to be featured three times, with separate predictions of climate apocalypse.
As the paper’s co-author David Rode of Carnegie Mellon University comments, alongside Stanford biologist Paul Ehrlich, Prince Charles has “warned repeatedly of ‘irretrievable ecosystem collapse’ if actions were not taken, repeated the prediction with a new definitive end date. Their predictions have repeatedly been apocalyptic and highly certain . . . and so far, they’ve also been wrong.”
Here’s hoping that the reign of King Charles will be a happier affair than his failed forecasts of climate doom. Long live the King.
A 2021 paper on extreme climate forecasts tabulates 79 predictions of climate-caused catastrophe dating back to the first Earth Day in 1970. Charles has the distinction of being the only individual to be featured three times, with separate predictions of climate apocalypse.
As the paper’s co-author David Rode of Carnegie Mellon University comments, alongside Stanford biologist Paul Ehrlich, Prince Charles has “warned repeatedly of ‘irretrievable ecosystem collapse’ if actions were not taken, repeated the prediction with a new definitive end date. Their predictions have repeatedly been apocalyptic and highly certain . . . and so far, they’ve also been wrong.”
Here’s hoping that the reign of King Charles will be a happier affair than his failed forecasts of climate doom. Long live the King.
2) Nations deeply split on climate goals at Berlin summit
The Washington Times, 3 May 2023
The Washington Times, 3 May 2023
BERLIN — Senior officials from dozens of nations meeting in Berlin remained divided Wednesday on how to meet international climate goals, with some pushing for a phaseout of fossil fuels and others insisting that oil and gas can continue to play a role in the future - provided their emissions are somehow contained.
The two-day Petersberg Climate Dialogue hosted by Germany heard calls for a new target on ramping up renewable energy to be negotiated and agreed on at this year’s U.N. climate summit in December.
German Chancellor Olaf Scholz suggested that the goal could be a tripling of newly installed solar, wind power by 2030, echoing a target proposed recently by the International Renewable Energy Agency.
“This would send a clear signal to the real economy and to finance about where the journey is going,” he told delegates from about 40 countries.
German Foreign Minister Annalena Baerbock insisted this proposal shouldn’t detract from the need to drastically cut fossil fuel use, a position shared by other European nations and vulnerable island states present at the Berlin talks.
“This course correction needs to include an accelerated global expansion of renewables, greater energy efficiency and the phaseout of fossil fuels,” she said.
The United Arab Emirates, which will host the U.N. talks in Dubai, backed the idea of significantly boosting wind and solar power, but made clear that it wants to keep fossil fuels as an option for the foreseeable future.
Sultan al-Jaber, the UAE official who will chair COP28 climate talks in Dubai, said his oil-rich country wants “a comprehensive, holistic approach to an energy transition that included all sources of energy.”
“We know that fossil fuel will continue to play a role in the foreseeable future, helping meet global requirements so our aim should be a focus on ensuring that we phase out emissions from all sectors whether it’s oil and gas or high emitting industries,” he said. “In parallel we should assert all effort and all investments in renewable energy and clean technology space.”
Full story
The two-day Petersberg Climate Dialogue hosted by Germany heard calls for a new target on ramping up renewable energy to be negotiated and agreed on at this year’s U.N. climate summit in December.
German Chancellor Olaf Scholz suggested that the goal could be a tripling of newly installed solar, wind power by 2030, echoing a target proposed recently by the International Renewable Energy Agency.
“This would send a clear signal to the real economy and to finance about where the journey is going,” he told delegates from about 40 countries.
German Foreign Minister Annalena Baerbock insisted this proposal shouldn’t detract from the need to drastically cut fossil fuel use, a position shared by other European nations and vulnerable island states present at the Berlin talks.
“This course correction needs to include an accelerated global expansion of renewables, greater energy efficiency and the phaseout of fossil fuels,” she said.
The United Arab Emirates, which will host the U.N. talks in Dubai, backed the idea of significantly boosting wind and solar power, but made clear that it wants to keep fossil fuels as an option for the foreseeable future.
Sultan al-Jaber, the UAE official who will chair COP28 climate talks in Dubai, said his oil-rich country wants “a comprehensive, holistic approach to an energy transition that included all sources of energy.”
“We know that fossil fuel will continue to play a role in the foreseeable future, helping meet global requirements so our aim should be a focus on ensuring that we phase out emissions from all sectors whether it’s oil and gas or high emitting industries,” he said. “In parallel we should assert all effort and all investments in renewable energy and clean technology space.”
Full story
3) Energy security first: Norway set to accelerate Arctic oil and gas drilling
OilPrice.com, 3 May 2023
OilPrice.com, 3 May 2023
Companies operating in the Norwegian Continental Shelf are planning for more drilling in the Arctic areas in the Barents Sea, encouraged by Norway’s government which wants more oil and gas discoveries to boost energy security and help European partners with energy supply.
At a conference on the Barents Sea in Hammerfest last week, Norway’s Petroleum and Energy Minister Terje Aasland called on oil and gas companies to fulfill their “social responsibility” and “leave no stone unturned” to find more natural gas resources in the Barents Sea, the area estimated to hold most of Norway’s undiscovered oil and gas resources.
“The petroleum adventure in the north has only just started,” Aasland said, adding that the government would help the Barents Sea industry as Norway must develop, not liquidate, its petroleum industry.
Apart from being in a harsher environment so far north, the Barents Sea poses another roadblock to developing oil and gas resources—the north lacks the infrastructure in the more developed areas on the shelf that would make tie-ups and resource development easier.
Still, operators are not giving up.
“Even if we want to maintain production, we have to explore more, we have to find more,” Torger Rod, CEO of Barents-focused energy producer Var Energi, told Bloomberg in an interview.
In March, Var Energi confirmed an oil discovery in the Countach well in a production license northwest of Hammerfest near Goliat, one of two operational oil and gas fields in the Barents Sea.
Full story
At a conference on the Barents Sea in Hammerfest last week, Norway’s Petroleum and Energy Minister Terje Aasland called on oil and gas companies to fulfill their “social responsibility” and “leave no stone unturned” to find more natural gas resources in the Barents Sea, the area estimated to hold most of Norway’s undiscovered oil and gas resources.
“The petroleum adventure in the north has only just started,” Aasland said, adding that the government would help the Barents Sea industry as Norway must develop, not liquidate, its petroleum industry.
Apart from being in a harsher environment so far north, the Barents Sea poses another roadblock to developing oil and gas resources—the north lacks the infrastructure in the more developed areas on the shelf that would make tie-ups and resource development easier.
Still, operators are not giving up.
“Even if we want to maintain production, we have to explore more, we have to find more,” Torger Rod, CEO of Barents-focused energy producer Var Energi, told Bloomberg in an interview.
In March, Var Energi confirmed an oil discovery in the Countach well in a production license northwest of Hammerfest near Goliat, one of two operational oil and gas fields in the Barents Sea.
Full story
4) India's coal production soars 23% in 5 years
Mint News, 3 May 2023
Mint News, 3 May 2023
New Delhi: India's domestic coal production surged by around 23% over the past five years, reaching 893.08 million tonne in the 2022-23 fiscal year, according to the Ministry of Coal. This noteworthy growth has been driven by state-owned mining companies Coal India Limited (CIL) and SCCL, as well as captive and other mines.
Coal India has seen production increase by 15.9% over the same period, while SCCL has shown a production growth of 4.3%.
With an ambitious annual coal production target of 1,012 million tonne set for the 2023-2024 fiscal year, the Ministry of Coal is implementing a range of measures to bolster domestic production, enhance self-reliance, and ensure sufficient coal stocks at thermal power plants. Emphasizing environmental protection and sustainability, the Ministry is also actively promoting responsible development in the coal sector.
Full story
5) Coal to dominate India power mix in 2030, additional capacity will be required
Bloomberg, 5 May 2023
NEW DELHI: Coal will remain India’s largest source of electricity generation by 2030 and additional new plants will be required, even as the nation adds record clean energy installations to hit climate targets.
India, the world’s third-largest emitter, is seeking to meet surging electricity demand driven by rising per-capita energy consumption and a post-pandemic industrial rebound at the same time it takes action to decarbonize its power sector, according to the power ministry’s Central Electricity Authority.
“Availability of affordable and reliable electricity is a key factor in sustainable growth of the country,” Ghanshyam Prasad, the authority’s chairperson, said in a report.
Coal will account for about 54% of electricity generation in 2030 and as much as 46 gigawatts of additional capacity will be required alongside new renewables, the authority said in the report published Thursday. The fossil fuel currently accounts for almost three-quarters of generation and mines are striving to dig out material at a record pace to avoid shortages that caused blackouts in recent summers....
The country has 26.9 gigawatts of coal power plants in construction and new projects totalling as much as 19.1 gigawatts may need to be built, according to the authority’s
report.
Full story
6) Australia's Northern Territory government gives green light to fracking in massive shale basin
ABC News, 3 May 2023
Coal India has seen production increase by 15.9% over the same period, while SCCL has shown a production growth of 4.3%.
With an ambitious annual coal production target of 1,012 million tonne set for the 2023-2024 fiscal year, the Ministry of Coal is implementing a range of measures to bolster domestic production, enhance self-reliance, and ensure sufficient coal stocks at thermal power plants. Emphasizing environmental protection and sustainability, the Ministry is also actively promoting responsible development in the coal sector.
Full story
5) Coal to dominate India power mix in 2030, additional capacity will be required
Bloomberg, 5 May 2023
NEW DELHI: Coal will remain India’s largest source of electricity generation by 2030 and additional new plants will be required, even as the nation adds record clean energy installations to hit climate targets.
India, the world’s third-largest emitter, is seeking to meet surging electricity demand driven by rising per-capita energy consumption and a post-pandemic industrial rebound at the same time it takes action to decarbonize its power sector, according to the power ministry’s Central Electricity Authority.
“Availability of affordable and reliable electricity is a key factor in sustainable growth of the country,” Ghanshyam Prasad, the authority’s chairperson, said in a report.
Coal will account for about 54% of electricity generation in 2030 and as much as 46 gigawatts of additional capacity will be required alongside new renewables, the authority said in the report published Thursday. The fossil fuel currently accounts for almost three-quarters of generation and mines are striving to dig out material at a record pace to avoid shortages that caused blackouts in recent summers....
The country has 26.9 gigawatts of coal power plants in construction and new projects totalling as much as 19.1 gigawatts may need to be built, according to the authority’s
report.
Full story
6) Australia's Northern Territory government gives green light to fracking in massive shale basin
ABC News, 3 May 2023
The Northern Territory government will allow a full-scale onshore gas industry to go ahead in the gas-rich Beetaloo Basin, five years after a moratorium on fracking was lifted.
The government has been racing to tick off 135 recommendations from the 2018 Pepper inquiry, which found industry risks could be managed if its recommendations were implemented in full.
The government announced today that has been done, and oil and gas companies will be able to make an application for onshore gas production projects, which will be regulated by one of the most robust frameworks in Australia.
It also said it has a new petroleum operations unit to deliver a strong compliance program, which will be funded by a $2 million annual investment.
It comes after the NT government released the findings of a critical, three-year study into fracking in the Beetaloo sub-basin on April 19.
The Strategic Regional Environmental and Baseline Assessment (SREBA), which was a key recommendation from the Pepper inquiry, found no new risks associated with the development of an onshore gas industry.
Full story
The government has been racing to tick off 135 recommendations from the 2018 Pepper inquiry, which found industry risks could be managed if its recommendations were implemented in full.
The government announced today that has been done, and oil and gas companies will be able to make an application for onshore gas production projects, which will be regulated by one of the most robust frameworks in Australia.
It also said it has a new petroleum operations unit to deliver a strong compliance program, which will be funded by a $2 million annual investment.
It comes after the NT government released the findings of a critical, three-year study into fracking in the Beetaloo sub-basin on April 19.
The Strategic Regional Environmental and Baseline Assessment (SREBA), which was a key recommendation from the Pepper inquiry, found no new risks associated with the development of an onshore gas industry.
Full story
7) Oklahoma bans more than a dozen woke banks from doing business with the state
Fox Business, 3 May 2023
Fox Business, 3 May 2023
State will not do business with banks 'beholden to social goals that override their fiduciary duties,' Oklahoma state treasurer says
Oklahoma State Treasurer Todd Russ is planning to announce the sweeping measure Wednesday morning which represents one of the most aggressive actions any state has taken against banks pursuing so called environmental, social and governance (ESG) initiatives. The move ultimately blocks the banks from managing billions of dollars in Oklahoma pensions, investments and other state entities.
"The energy sector is crucial to Oklahoma’s economy, providing jobs for our residents and helping drive economic growth," Russ said in a statement. "It is essential for us to work with financial institutions that are focused on free-market principles and not beholden to social goals that override their fiduciary duties."
The ban impacts some of the largest asset managers and banks in the country including BlackRock, Wells Fargo, JPMorgan Chase, Bank of America and State Street. BlackRock alone reported in April that it has a staggering $9.1 trillion in assets under management.
As of 2022, Oklahoma's oil and gas industry and its component sectors sustained 4,000 businesses, produced $19 billion in state gross domestic product, provided state households with $16.5 billion in earnings and created 85,050 jobs. (Mario Tama/Getty Images / Getty Images)
Oklahoma's actions come three months after Russ sent a letter and questionnaire to dozens of banks and financial institutions on Feb. 1, asking about their climate and energy investment policies. Russ noted at the time that BlackRock manages more than 60% of the Oklahoma Public Employees Retirement System.
Under a 2022 law passed by the state's legislature last year, the state's treasurer is mandated to probe the investment policies of banks it does business with and assemble a list of companies determined to be engaged in a boycott of the energy sector. Russ' office said it received almost 160 responses which helped inform the decision Wednesday.
Full story
8) 'Woke' bank put on notice: 19 US states threaten legal consequences if JPMorgan Chase doesn't stop 'persistently discriminating'
Daily Mail, 3 May 2023
Oklahoma State Treasurer Todd Russ is planning to announce the sweeping measure Wednesday morning which represents one of the most aggressive actions any state has taken against banks pursuing so called environmental, social and governance (ESG) initiatives. The move ultimately blocks the banks from managing billions of dollars in Oklahoma pensions, investments and other state entities.
"The energy sector is crucial to Oklahoma’s economy, providing jobs for our residents and helping drive economic growth," Russ said in a statement. "It is essential for us to work with financial institutions that are focused on free-market principles and not beholden to social goals that override their fiduciary duties."
The ban impacts some of the largest asset managers and banks in the country including BlackRock, Wells Fargo, JPMorgan Chase, Bank of America and State Street. BlackRock alone reported in April that it has a staggering $9.1 trillion in assets under management.
As of 2022, Oklahoma's oil and gas industry and its component sectors sustained 4,000 businesses, produced $19 billion in state gross domestic product, provided state households with $16.5 billion in earnings and created 85,050 jobs. (Mario Tama/Getty Images / Getty Images)
Oklahoma's actions come three months after Russ sent a letter and questionnaire to dozens of banks and financial institutions on Feb. 1, asking about their climate and energy investment policies. Russ noted at the time that BlackRock manages more than 60% of the Oklahoma Public Employees Retirement System.
Under a 2022 law passed by the state's legislature last year, the state's treasurer is mandated to probe the investment policies of banks it does business with and assemble a list of companies determined to be engaged in a boycott of the energy sector. Russ' office said it received almost 160 responses which helped inform the decision Wednesday.
Full story
8) 'Woke' bank put on notice: 19 US states threaten legal consequences if JPMorgan Chase doesn't stop 'persistently discriminating'
Daily Mail, 3 May 2023
A group of 19 GOP state attorneys general are putting JPMorgan Chase on notice for alleged discrimination against religious and other conservative organizations, which contradicts the company's commitment to 'inclusivity,' they say.
In a letter to JPMorgan Chase CEO Jamie Dimon Tuesday, the state attorneys general led by Daniel Cameron of Kentucky allege the company has 'persistently discriminated' against customers due to 'religious or political affiliation.'
Chase claims that it opposes 'discrimination in any form,' yet the GOP state leaders allege it has repeatedly targeted religious liberty organizations by shutting down their checking accounts and refusing them other key banking services because of their political leanings, a practice now known as 'de-banking.'
The attorneys general point to Chase's alleged 'de-banking' of a religious liberty organization last year - the National Committee for Religious Freedom (NCRF) - with no clear explanation.
NCRF, which was founded by the former U.S. Ambassador-at-Large for International Religious Freedom Sam Brownback, is a known 'multi-faith' nonprofit.
Brownback said in October that he was 'stunned' that the bank had closed NCRF's checking account and wouldn't provide a sufficient answer as to the reasons behind the closure.
According to the letter, eventually a Chase employee contacted NCRF saying the bank would restore the account, but only if the organization provided a list of their donors, a list of political candidates it intended to support and reasoning behind the endorsements.
'The bank's brazen attempt to condition critical services on a customer passing some unarticulated religious or political litmus test flies in the face of Chase's anti- discrimination policies. Worse, it flies in the face of basic American values of fairness and equality,' the attorneys general say in the letter to Dimon.
In addition, there have been at least two other instances where Chase 'has not extended its openness and inclusivity to everyone,' the state AGs say.
Family Council, a pro-life group, had its account terminated from a credit card processor owned by Chase in 2021 after it was considered 'High Risk' by the company.
WePay, which is also owned by Chase, reportedly failed to provide ticket services for the Defense of Liberty organization, a conservative group, in 2021 because the event was showcasing Donald Trump Jr., the former president's son.
That action prompted the Missouri state treasurer to threaten cutting off business with the bank and as a result of the pressure, Chase restored the organization's account.
Full story
In a letter to JPMorgan Chase CEO Jamie Dimon Tuesday, the state attorneys general led by Daniel Cameron of Kentucky allege the company has 'persistently discriminated' against customers due to 'religious or political affiliation.'
Chase claims that it opposes 'discrimination in any form,' yet the GOP state leaders allege it has repeatedly targeted religious liberty organizations by shutting down their checking accounts and refusing them other key banking services because of their political leanings, a practice now known as 'de-banking.'
The attorneys general point to Chase's alleged 'de-banking' of a religious liberty organization last year - the National Committee for Religious Freedom (NCRF) - with no clear explanation.
NCRF, which was founded by the former U.S. Ambassador-at-Large for International Religious Freedom Sam Brownback, is a known 'multi-faith' nonprofit.
Brownback said in October that he was 'stunned' that the bank had closed NCRF's checking account and wouldn't provide a sufficient answer as to the reasons behind the closure.
According to the letter, eventually a Chase employee contacted NCRF saying the bank would restore the account, but only if the organization provided a list of their donors, a list of political candidates it intended to support and reasoning behind the endorsements.
'The bank's brazen attempt to condition critical services on a customer passing some unarticulated religious or political litmus test flies in the face of Chase's anti- discrimination policies. Worse, it flies in the face of basic American values of fairness and equality,' the attorneys general say in the letter to Dimon.
In addition, there have been at least two other instances where Chase 'has not extended its openness and inclusivity to everyone,' the state AGs say.
Family Council, a pro-life group, had its account terminated from a credit card processor owned by Chase in 2021 after it was considered 'High Risk' by the company.
WePay, which is also owned by Chase, reportedly failed to provide ticket services for the Defense of Liberty organization, a conservative group, in 2021 because the event was showcasing Donald Trump Jr., the former president's son.
That action prompted the Missouri state treasurer to threaten cutting off business with the bank and as a result of the pressure, Chase restored the organization's account.
Full story
9) Ford is losing roughly $60,000 for every electric vehicle sold
The Daily Caller, 3 May 2023
The Daily Caller, 3 May 2023
Ford lost tens of thousands of dollars per electric vehicle sold in the first quarter of 2023, as the division remained on track for roughly $3 billion in yearly losses, according to the company’s Tuesday evening earnings report.
Ford’s electric vehicle division — which was separated from its traditional gas and professional-grade vehicle departments in a late March reorganization — lost $722 million in the first three months of 2023, while selling just 12,000 units, according to the company’s first quarter earnings report. This amounts to a roughly $60,167 loss for each vehicle sold, according to calculations made by the Daily Caller News Foundation.
“Because the auto industry is very capital intensive and has high fixed costs that need to be spread out over thousands of units, it is not uncommon to have steep losses initially which are followed by profits,” Heritage Foundation economist E.J. Antoni told the Daily Caller News Foundation. “Imagine, for instance, needing to retool a factory and rebuild an assembly line to build different vehicles. That is much more expensive than the revenue from the first few vehicles that are produced.”
Despite this, however, Antoni characterized the decision to go “all-in” on electric vehicles as a “tremendous risk” that required ongoing support from government subsidies. Private analysts expect that the total cost of the green manufacturing subsidies offered by President Joe Biden’s Inflation Reduction Act will top $1 trillion, with subsidies for the electric vehicle battery packs alone topping $130 billion.
Full story
Ford’s electric vehicle division — which was separated from its traditional gas and professional-grade vehicle departments in a late March reorganization — lost $722 million in the first three months of 2023, while selling just 12,000 units, according to the company’s first quarter earnings report. This amounts to a roughly $60,167 loss for each vehicle sold, according to calculations made by the Daily Caller News Foundation.
“Because the auto industry is very capital intensive and has high fixed costs that need to be spread out over thousands of units, it is not uncommon to have steep losses initially which are followed by profits,” Heritage Foundation economist E.J. Antoni told the Daily Caller News Foundation. “Imagine, for instance, needing to retool a factory and rebuild an assembly line to build different vehicles. That is much more expensive than the revenue from the first few vehicles that are produced.”
Despite this, however, Antoni characterized the decision to go “all-in” on electric vehicles as a “tremendous risk” that required ongoing support from government subsidies. Private analysts expect that the total cost of the green manufacturing subsidies offered by President Joe Biden’s Inflation Reduction Act will top $1 trillion, with subsidies for the electric vehicle battery packs alone topping $130 billion.
Full story
10) Energy bill anxiety: Half of UK consumers fear payment struggles
Energy Live News, 4 May 2023
Energy Live News, 4 May 2023
Consumers have taken steps to reduce their energy use, and some have employed other strategies such as skipping meals to afford bills, according to a survey by Ofgem
In 2022, approximately half of all consumers were anxious about their capacity to pay energy bills, with Q4 showing a 50% rate of concern.
That’s according to a survey conducted by Ofgem and Citizens Advice, which suggests consumers have actively sought to minimise their energy use.
The survey of 3,000 people, which monitors domestic consumers’ perceptions of the energy market, shows nearly 84% taking measures to do so.
Some consumers have resorted to alternative cost-cutting methods, such as skipping meals, to pay their energy bills, according to the report.
Full story
In 2022, approximately half of all consumers were anxious about their capacity to pay energy bills, with Q4 showing a 50% rate of concern.
That’s according to a survey conducted by Ofgem and Citizens Advice, which suggests consumers have actively sought to minimise their energy use.
The survey of 3,000 people, which monitors domestic consumers’ perceptions of the energy market, shows nearly 84% taking measures to do so.
Some consumers have resorted to alternative cost-cutting methods, such as skipping meals, to pay their energy bills, according to the report.
Full story
11) Paul Homewood: How the ‘world disaster’ figures lie
The Conservative Woman, 5 May 2023
The Conservative Woman, 5 May 2023
According to AP last year: ‘A disaster-weary globe will be hit harder in the coming years by even more catastrophes colliding in an interconnected world, a United Nations report issued Monday says. If current trends continue the world will go from around 400 disasters per year in 2015 to an onslaught of about 560 catastrophes a year by 2030, the scientific report by the United Nations Office for Disaster Risk Reduction said. By comparison from 1970 to 2000, the world suffered just 90 to 100 medium to large scale disasters a year, the report said.
‘The number of extreme heat waves in 2030 will be three times what it was in 2001 and there will be 30 per cent more droughts, the report predicted. It’s not just natural disasters amplified by climate change, it’s Covid-19, economic meltdowns and food shortages. Climate change has a huge footprint in the number of disasters, report authors said.’
The UN report included this graph, showing how the number of disasters were now five times as high as in the 1970s:[ ]( https://www.conservativewoman.co.uk/wp-content/uploads/2023/05/2023-05-04_15-37.png )
‘The number of extreme heat waves in 2030 will be three times what it was in 2001 and there will be 30 per cent more droughts, the report predicted. It’s not just natural disasters amplified by climate change, it’s Covid-19, economic meltdowns and food shortages. Climate change has a huge footprint in the number of disasters, report authors said.’
The UN report included this graph, showing how the number of disasters were now five times as high as in the 1970s:[ ]( https://www.conservativewoman.co.uk/wp-content/uploads/2023/05/2023-05-04_15-37.png )
https://www.undrr.org/media/79595
Last week it was the turn of the World Meteorological Organisation (WMO) to bang the climate change drum. Their State of the Global Climate 2022 report commented: ‘From mountain peaks to ocean depths, climate change continued its advance in 2022 . . . Droughts, floods and heatwaves affected communities on every continent and cost many billions of dollars. While greenhouse gas emissions continue to rise and the climate continues to change, populations worldwide continue to be gravely impacted by extreme weather and climate events.’
The WMO is, of course, a UN body, so unsurprisingly this report has little to do with science and everything to do with politics.
But have natural disasters become so much more common in recent years? A closer look at that graph above reveals that the number of disasters has actually been declining since 2000, a fact which should immediately cast doubt on the ‘global warming is making everything worse’ meme.
The real reason for the ‘increase’ is that many natural disasters in years past were never officially logged in the UN database, called EM-DAT, which is compiled by CRED, the Center for Research on the Epidemiology of Disasters. The database was not created until 1998, and CRED relied on informal reports for disasters prior to that year.
CRED has acknowledged that many events were missed by them in the past. In their 2006 report, they warned that earlier data was incomplete and should not be used for comparing long-term trends. In particular, over the past 30 years development in telecommunications, media and increased international cooperation has played a critical role in the number of disasters reported. In addition, increases in humanitarian funds have encouraged reporting of more disasters.
Full post
Last week it was the turn of the World Meteorological Organisation (WMO) to bang the climate change drum. Their State of the Global Climate 2022 report commented: ‘From mountain peaks to ocean depths, climate change continued its advance in 2022 . . . Droughts, floods and heatwaves affected communities on every continent and cost many billions of dollars. While greenhouse gas emissions continue to rise and the climate continues to change, populations worldwide continue to be gravely impacted by extreme weather and climate events.’
The WMO is, of course, a UN body, so unsurprisingly this report has little to do with science and everything to do with politics.
But have natural disasters become so much more common in recent years? A closer look at that graph above reveals that the number of disasters has actually been declining since 2000, a fact which should immediately cast doubt on the ‘global warming is making everything worse’ meme.
The real reason for the ‘increase’ is that many natural disasters in years past were never officially logged in the UN database, called EM-DAT, which is compiled by CRED, the Center for Research on the Epidemiology of Disasters. The database was not created until 1998, and CRED relied on informal reports for disasters prior to that year.
CRED has acknowledged that many events were missed by them in the past. In their 2006 report, they warned that earlier data was incomplete and should not be used for comparing long-term trends. In particular, over the past 30 years development in telecommunications, media and increased international cooperation has played a critical role in the number of disasters reported. In addition, increases in humanitarian funds have encouraged reporting of more disasters.
Full post
12) And finally: Net Zero drive could kill Britain's town centres, report says
The Construction Index, 4 May 2023
The Construction Index, 4 May 2023
New energy efficiency regulations could result in thousands of office buildings closing across Britain, sending town and city centres into a terminal economic decline, according to new research.
A report by construction data firm Barbour ABI reckons that commercial landlords in regions where property prices are low and demand has already faltered may simply decide that it is not worth investing in the changes require to meet new energy performance certificate (EPC) requirements.
“With high streets already under pressure and levelling up funding yet to make an impact, there is a considerable risk that we will see a significant decline in some towns and cities, with landlords deciding not to invest and meet these obligations,” said Barbour ABI chief economist Tom Hall.
Minimum energy efficiency standards (MEES) came into force in April 2023 as part of a national drive towards net zero carbon. They make it illegal to let offices and other commercial buildings if they fail to meet an EPC rating of E. Properties must reach EPC C by 2027 and B by 2030 to be let out.
Barbour’s analysis of recent commercial and office repair, maintenance and improvement (RMI) planning applications shows they are still down more than 40% on pre-covid levels despite the new regulation.
Almost three-quarters of the office stock in the major UK office markets will eventually be affected, Barbour ABI says, and 56 million square metres of commercial space is already failing to meet current regulations. The risk is that huge swathes of commercial building stock will sit empty, blighting urban centres that are already under pressure from retail closures. Areas outside the southeast are considered to be most at risk.
Full story
A report by construction data firm Barbour ABI reckons that commercial landlords in regions where property prices are low and demand has already faltered may simply decide that it is not worth investing in the changes require to meet new energy performance certificate (EPC) requirements.
“With high streets already under pressure and levelling up funding yet to make an impact, there is a considerable risk that we will see a significant decline in some towns and cities, with landlords deciding not to invest and meet these obligations,” said Barbour ABI chief economist Tom Hall.
Minimum energy efficiency standards (MEES) came into force in April 2023 as part of a national drive towards net zero carbon. They make it illegal to let offices and other commercial buildings if they fail to meet an EPC rating of E. Properties must reach EPC C by 2027 and B by 2030 to be let out.
Barbour’s analysis of recent commercial and office repair, maintenance and improvement (RMI) planning applications shows they are still down more than 40% on pre-covid levels despite the new regulation.
Almost three-quarters of the office stock in the major UK office markets will eventually be affected, Barbour ABI says, and 56 million square metres of commercial space is already failing to meet current regulations. The risk is that huge swathes of commercial building stock will sit empty, blighting urban centres that are already under pressure from retail closures. Areas outside the southeast are considered to be most at risk.
Full story
The London-based Net Zero Watch is a campaign group set up to highlight and discuss the serious implications of expensive and poorly considered climate change policies. The Net Zero Watch newsletter is prepared by Director Dr Benny Peiser - for more information, please visit the website at www.netzerowatch.com.
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