JoNova

A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).


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Net Zero produced the most dramatic fall in European energy since the late Middle Ages

If we measure the vibrancy of an economy by its energy use, the EU peaked in 2006 and is down 10%. The UK, alas has fallen even further and faster and is down 30%.

John Constable at the GWPF has produced a damning report on Europe’s Green Experiment and remarked that there hasn’t been a fall in energy this large “since the end of the late middle ages”.

Effectively, the EU paid €770 billion to export it’s carbon emissions and jobs to China and import nearly everything else.

The study shows that up until 2005 the EU’s energy consumption was on a rising trend, but it has now fallen by over 10% on the 2006 peak, and is now back at levels last seen in the 1990s. The UK is even more severely affected, with consumption falling by about 30% on its peak in the early 2000s and is now at levels last seen in the 1950s. Further analysis reveals that electricity generation productivity has collapsed, with system load factor falling from an adequate 56% in 1990 to a worryingly inefficient and expensive 37% in 2020. A trillion dollars in subsidies to renewables — mostly paid by the EU

It […]

Bonanza, not: With govt manipulation carbon credits rise back to 2008 levels

It’s being hailed as a “soaring investment” but it’s just the fake fiat carbon scheme that has been fiddled back to life. The EU ETS market had too many credits and crashed down to 5 Euro or less by 2013. On deaths door, the EU decided to cull a quarter of the credits for the EU ETS every year starting in 2019 and the price predictably went back up. The big success of this unnecessary unfree market is that it has added a tariff to cheap coal to make it just as expensive as gas, and pushed up electricity prices in the EU.

Any illusion of generating economic wealth, or energy efficiency is purely coincidental. There’s no supply and no demand, no extra products or productivity — and without government force, no market at all for imaginary carbon penances. It draws money from every consumer and hands it to gas, and renewables giants, as well as bankers, crooks and VAT Tax cheats. And if this market goes global it’s potentially a $7 Trillion dollar money-making racket for bankers. No wonder HSBC, Deutche Bank, Goldman Sachs, BBVA and Citigroup want to “save the world”.

Back to 2008:

Government decisions largely […]

Turnbull is already saying climate policies are “not set in stone”. Beware the emissions trading scheme.

It’s only been a week, and already the door is open to the emissions trading monster. The Nationals may have got Turnbull to agree in writing last Tuesday that he would not change the Abbott policies, but writing things on paper is not enough, apparently it needs to be carved in stone.

If the member for Goldman Sachs still wants the fake “free” market solution — the one he threw away his leadership for in 2009 — he can keep the current coalition plan but use foreign credits to meet the targets. The global carbon market is the $2 Trillion dollar scheme to enrich financial houses, crooks and bureaucrats. It’s a whole fiat currency, ready-to-corrupt. The vested interests in this are knocking at every door. They’d be mad not too. But what kind of world do we want to live in? We don’t have to reward the do-nothing unproductive sector and the corrupt.

A carbon tax is a pointless waste, and the worst kind of carbon tax is a global trading scheme.

If Australians don’t want to be sold out in Paris, they need to protest now. I suggest writing to The Nationals, Libs, Nick Xenophon and media outlets.

Six […]

Zombie carbon market falls 60%, revived by EU decree – media spins “soaring success”

Global Carbon Markets peaked in 2011 at €96bn euro. Over the next two years they plummeted to €36bn* euro collapsing by 60%. Though the press didn’t seem in a hurry to convey that, and if I search, no government funded agency has done a graph like this below (perhaps I missed it?)

The decline was looking pretty terminal, but the EU government has now voted to backload (which means hold off the permits and cut the supply). This is a desperate measure involving over half the new permits to keep the “free” market alive.

Instead, the news agencies with greener leanings have underplayed the fall, and the 60% decline is now invisibly massaged in places like BusinessGreen into a “market set to soar”. This is not just media-spin but a news-through-a-centrifuge.

The value of the world’s carbon markets is set to soar to €64bn (£53bn) this year, up from €39bn in 2013, as the European Union launches a temporary fix to revive its ailing emissions trading system.

Peak carbon came and went. Those 2014 figures are speculation. Otherwise the trend was terminal.

A breathless journalist at Thompson Reuters describes the possible revival of the market back to 30% below […]

Germany’s Greens help the coal industry, while the US cut emissions by ignoring the greens

Oh the dilemma. German Greens have been so “successful” that coal use is rising fast. They helped get rid of the nukes in 2011, punished coal, and subsidized “renewables”. But woe…. energy has to come from somewhere, so the paradoxical crunch comes. Green policies mean that everyone is poorer, but the cheapest energy comes from coal …

The coal industry must be praying for more Green activism:

“IT’S been a black Christmas for green thinkers as Germany, the world leader in rooftop solar and pride of the renewable energy revolution has confirmed its rapid return to coal.

After scrapping nuclear power, Germany’s carbon dioxide emissions are back on the rise as the country clamours to reopen some of the dirtiest brown coalmines that have been closed since the reunification of east and west. The Australian

Though some say the problem is “carbon credits” are too cheap. (We need to be poorer?)

“…new figures show that coal power output in 2013 reached its highest level in more than 20 years. Researchers blame cheap CO2 emissions permits, and demand urgent reforms.

The stats: Germany is using almost as much coal as it did in 1990:

In 1990, Germany’s brown coal-fired […]

Banks and trading houses bought two-thirds of carbon permits

During the northern winter, there were more speculators in the carbon market than genuine players.

Those bankers must be very concerned about the environment.

Speculators main buyers in EU carbon auctions -report 17 May 2013

LONDON, May 17 (Reuters Point Carbon) – Banks and trading houses bought more than two thirds of the 138 million carbon permits sold by 25 European governments between Nov. 2012 and Feb. 2013 to help power plants and factories comply with the EU Emissions Trading Scheme, an EU Commission report published Friday showed.

Six “credit institutions” and six “investment firms” dominated the 35 auctions held over that period, picking up as much as 80 percent of the allowances sold in January alone, the report said, adding that only one of those companies was eligible to bid on behalf of clients.

http://www.pointcarbon.com/news/1.2378205 paywalled.

Things have changed in the carbon market. From 2005-2012 most allowances were given away free, but now they are being sold at auction. So the period starting Nov 2012 was probably the first sales under the new system. It is expected that the bankers and traders will sell the permits to the power companies in the futures […]

Kyoto: Australia “IN” New Zealand “Out”

 

New Zealand signed up for an emissions trading scheme in November 2009, fully expecting Australia to sign in an ETS the next week. Thanks to one vote and an Abbot win, Australia didn’t sign up then, but will get one (unless things change) in 2015.

Kyoto 1 ends in December 31, 2012, and not a moment too soon. Last week Australia signed up for Kyoto 2, but this time New Zealand didn’t.

[Reuters] Neighbouring New Zealand said it would not sign up for the next phase and would instead join a separate convention, including large greenhouse gas emitters such as the United States and China.

Kyoto 2 will only include 15% of emissions. The New Zealanders didn’t want “in” with such a small ineffectual crowd, and will wait for the US and China.

[Reuters] Australia in July introduced a A$23 ($24) per tonne carbon tax on top polluters, which will move into an emissions trading scheme from mid 2015. Australia and the European Union have agreed to link their trading schemes by 2018.

New Zealand’s abandonment of Kyoto 2 followed changes to its emissions trading scheme (ETS), which allowed unlimited use of carbon credits to meet targets at near-record […]

Global Carbon Market Hits $176 Billion in 2011

Global Carbon Market trading climbed to $176 billion in 2011 according to the The World Bank, which has just released it’s annual State and Trends of The Carbon Market in 2012. That makes it about the same value as total global wheat production — which supplies about 20% of the calories consumed by the 7 billion people on planet Earth.

The global carbon market disguises itself as an angel against the greedy corporates. Yet it is, itself, a giant corporate playing field. The mainstream media remains largely silent on the “vested interests” represented by this major industry that did not even exist 10 years ago.

Global Carbon Markets are worth billions

Was 2011 the peak of global carbon trading? Looks all downhill from here.

A record number of emissions products were traded in 2011, even though prices of EU carbon permits and international offsets fells well below $10 a tonne late in the year. The prices have fallen, but the volumes have increased. Look out, the average price in 2011 was $18.80US, but the prices in 2012 are less than half that. It will take a monster increase in volumes in 2012 to keep raising the total market […]

EU Carbon trading crashes: German bourse closes and Irish end carbon rort

More signs Australia is leaping onto a burning ship as it starts carbon taxing, just as the largest carbon markets are winding up:

(Reuters) – Bavaria’s stock exchange will abandon its carbon emissions certificate trading operations in the EU-traded CO2 market on June 30 after volumes in Europe “plunged to practically zero” in recent months, it said on Tuesday.

The EU’s emissions trading scheme (EU ETS) limits the carbon dioxide emissions of the 27-nation bloc’s factories and power plants and covers nearly half of EU emissions.

EU prices are down 60% over the last 12 months

“Emissions trading will never find its feet again without radical political action,” said Christine Bortenlaenger, the head of the exchange…

[Source: Reuters]

The Borse management claim they were closing because of the fraud and hacking as well as the market downturn:

Skeptics are winning: “the carbon market is dead”

The collapse of the Man-Made Myth continues apace. You may not read headlines as such (at least not in major dailies) but all the signs are there.

People who we never would have imagined speaking against the Big Scare Campaign are now doing so. Key glaciers are not melting and corals are happy. Governments won’t tell you it’s over, but they are behaving that way (the Australian one excepted, due to an election fluke that gave the Greens the balance of power). The Catholic Herald headlined it: Is the ‘anthropogenic global warming’ consensus on the point of collapse?

Source Barchart.

The last year of carbon trading in EUR's continues to fall. (Click to enlarge).

Mini update: The carbon market is being referred to as “dead”. Johannes Teyssen, chief executive of Germany’s EON, urged policymakers to make fixes. “Let’s talk real: the ETS is bust, it’s dead,” Mr Teyssen said in Brussels this week, adding: “I don’t know a single person in the world that would invest a dime based on ETS signals.” [full story: Financial Times]. Point Carbon analysts have downgraded the forecast price of carbon credits for the second time in two months as the carbon […]