{"id":1432726,"date":"2023-10-13T21:40:00","date_gmt":"2023-10-14T01:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1432726"},"modified":"2023-10-13T21:40:00","modified_gmt":"2023-10-14T01:40:00","slug":"the-net-zero-ship-starting-to-sink","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/the-net-zero-ship-starting-to-sink\/1432726\/","title":{"rendered":"The Net Zero Ship Starting To Sink"},"content":{"rendered":"

The Net Zero Ship Starting To Sink<\/span><\/p>\n

\n

Authored by Nicole James via The Epoch Times,<\/em><\/a><\/p>\n

Are we observing the early stages of worldwide resistance against the constraints of net zero policies?<\/strong><\/em><\/p>\n

Investors are ditching renewable energy faster than any other funds on record.<\/p>\n

Reuters reports<\/a>\u00a0that renewable energy funds suffered a net outflow of $1.4 billion in the July to September 2023 quarter.<\/strong><\/p>\n

LSEG Lipper data shows this to be the largest-ever quarterly outflow. There was also a 23 percent decline from the end of June of the total assets under management in the sector\u2014now valued at $65.4 billion.<\/p>\n

The S&P Global Clean Energy Index\u00a0(.SPGTCLEN<\/a>), is also down by 30 percent this year with most of the decline occurring since July. This Index comprises major solar and wind power companies and other renewables-related businesses.<\/p>\n

Yet in contrast, the S&P 500 Energy Index (.SPNY<\/a>), which is oil and gas-heavy, has increased slightly this year.<\/p>\n

It is not just investors who are exiting net zero. Politicians are also raising concerns.<\/p>\n

Australian Nationals Senator Matt Canavan said<\/a>\u00a0net zero has \u201cabsolutely carked it.\u201d<\/p>\n

His position is that net zero is a \u201csoundbite\u201d and \u201ctotally insane.\u201d It is unachievable because people will starve if it is enforced.<\/p>\n

\u201cAlmost everything we grow, we make, we do in our society relies on the use of fossil fuels,\u201d he said.<\/strong><\/em><\/p>\n

Patrick Moore, the co-founder of Greenpeace agrees.<\/p>\n

He told Tucker Carlson, \u201cIf we banned fossil fuels, agricultural production would collapse in a very short period of time. People will begin to starve \u2026 and half the population will die in a very short period of time.\u201d<\/strong><\/em><\/p>\n

<\/a><\/p>\n

Governments Across the World Bucking the Net Zero Trend<\/h2>\n

Politicians around the world are also raising concerns.<\/p>\n

UK<\/strong> Prime Minister Rishi Sunak has delayed banning new petrol and diesel cars and residential gas heating until 2035. This has been previously delayed twice with deadlines moved from 2025 to 2030.<\/p>\n

He said<\/a>, \u201cWe\u2019re not going to save the planet by bankrupting the British people.\u201d<\/strong><\/em><\/p>\n

France<\/strong>\u2019s President Macron has said that gas boilers will not be banned. He has also been shy about declaring a date for phasing out fossil fuels.<\/p>\n

The polls are showing that New Zealand<\/strong>\u2019s government is heading for opposition in this weekend\u2019s election.<\/p>\n

The taxing of livestock for methane emissions and transforming sheep and cattle farms into pine plantations has caused a revolt among rural voters.<\/p>\n

In the Netherlands<\/strong>, the Farmer-Citizen movement is the dominant party in the Dutch Senate and every provincial assembly.<\/p>\n

Germany <\/strong>is planning to resurrect its coal plants and some of Germany\u2019s large corporations such as Volkswagen, Siemens, and BASF are leaving their homeland for better business climates after the increasing local cost of pushing for net zero.<\/p>\n

U.S. <\/strong>presidential candidate Robert F. Kennedy Jr. believes that real environmentalism is about protecting natural habitats, sustaining ecosystems, and reducing pollution and deforestation. It\u2019s not about net zero, he said.<\/p>\n

Even\u00a0Bill Gates now says<\/a>\u00a0that \u201cno temperate country is going to become uninhabitable.\u201d<\/strong><\/p>\n

This is quite different from his earlier statement on Fox News two years ago when\u00a0he said<\/a>, \u201cThe migration that we saw out of Syria for their civil war, which was somewhat weather dependent, we\u2019re going to have 10 times as much migration because the equatorial areas will become unliveable.\u201d<\/p>\n

While Australia <\/strong>contributes just over one percent of global carbon dioxide emissions (a similar level to the UK), in 2022,\u00a0China approved 106 gigawatts of new coal fired power capacity<\/a>\u00a0which gives it 243 gigawatts of coal-fired capacity under construction.<\/p>\n

That is the equivalent of 243 coal power plants with China now accounting for around 30 percent of global CO2 emissions.<\/p>\n

Meanwhile, in June, Swedish authorities abandoned its 100 percent renewable target to reach net zero by 2045, and Norway followed this announcement by approving investments exceeding\u00a0over US$18 billion to develop 19 oil and gas fields<\/a>.<\/p>\n

Even in the European Union, there is a shift of voters turning away from Green parties and towards those with an anti-EU sentiment.<\/strong><\/p>\n

According to Politico, one reason is voter attitude towards climate transition policies.<\/p>\n

Back in Australia, geologist, Professor Ian Plimer has been vocal in his criticism of net zero.<\/p>\n

He told ADHTV that, \u201cThe fundamentals of science are you do not tamper with the original evidence. That has happened with our temperature record, where the past has been cooled and it makes it look as if we\u2019re warming. That is fraud.\u201d<\/p>\n

Senator Ralph Babet told the Australian Parliament that net zero is a “complete and utter scam, designed to shut down our nation, enrich predatory globalists, and the CCP.\u201d<\/p>\n

There are still some who cling to the net zero mission, however.<\/p>\n

Former UK PM Theresa May wrote on X (formerly Twitter), \u201cNet zero isn\u2019t a cost to be minimised\u2014it\u2019s the growth opportunity of the century, worth 1 trillion pounds to British business by the end of the decade.\u201d<\/p>\n

But investors aren\u2019t buying it.<\/p>\n

While many renewable projects are being shelved or delayed such as wind projects in the UK, Netherlands, and Norway because of constraints such as skyrocketing costs, Rich Pontillo, Lead Advisory at Nasdaq IR Intelligence,\u00a0told Reuters<\/a>\u00a0there could be another upcycle because of \u201cmassive\u201d U.S. government subsidies.<\/p>\n

However, if there is a change of president in 2024, Pontillo may need to rethink this statement.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 10\/13\/2023 – 17:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/geopolitical\/net-zero-ship-starting-sink<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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