Posts Tagged ‘Green Economy’

Cap and Trade and the Illusion of the New Green Economy

Here’s Roy Spencer’s article on the Cap and Trade energy plan that Mish recommended as an excellent read.

Cap and Trade and the Illusion of the New Green Economy

The Earth seen from Apollo 17Courtesy of Roy W. Spencer, at Roy Spencer’s Global Warming Blog

I don’t think Al Gore in his wildest dreams could have imagined how successful the “climate crisis” movement would become. It is probably safe to assume that this success is not so much the result of Gore’s charisma as it is humanity’s spiritual need to be involved in something transcendent – like saving the Earth.

After all, who wouldn’t want to Save the Earth? I certainly would. If I really believed that manmade global warming was a serious threat to life on Earth, I would be actively campaigning to ‘fix’ the problem.

But there are two practical problems with the theory of anthropogenic global warming: (1) global warming is (or at least was) likely to be a mostly natural process; and (2) even if global warming is manmade, it will be immensely difficult to avoid further warming without new energy technologies that do not currently exist.

On the first point, since the scientific evidence against global warming being anthropogenic is what most of the rest of this website is about, I won’t repeat it here. But on the second point…what if the alarmists are correct? What if humanity’s burning of fossil fuels really is causing global warming? What is the best path to follow to fix the problem?

Cap-and-Trade

The most popular solution today is carbon cap-and-trade legislation. The European Union has hands-on experience with cap-and-trade over the last couple of years, and it isn’t pretty. Over there it is called their Emissions Trading Scheme (ETS). Here in the U.S., the House of Representatives last Friday narrowly passed the Waxman-Markey bill. The Senate plans on taking up the bill as early as the fall of 2009.

Under cap-and-trade, the government institutes “caps” on how much carbon dioxide can be emitted, and then allows companies to “trade” carbon credits so that the market rewards those companies that find ways to produce less CO2. If a company ends up having more credits than they need, they can then sell those credits to other companies.

While it’s advertised as a “market-based” approach to pollution reduction, it really isn’t since the market did not freely choose cap-and-trade…it was imposed upon…
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Obama’s “Cap and Trade” Energy Plan Will Cost Jobs

Obama’s "Cap and Trade" Energy Plan Will Cost Jobs

Courtesy of Mish

A quick look at the details of the Energy Plan working its way through Congress shows that Obama’s energy plan will cost jobs. Please consider Energy job losers could get windfall.

Workers who lose their jobs if the pending climate change legislation becomes law could get a weekly paycheck for up to three years, subsidies to find new work and other generous benefits — all courtesy of Uncle Sam — under a little-noticed provision of the bill.

Touted by its House Democratic authors as a jobs engine, the bill offers extraordinary compensation for those who would lose their paycheck as a consequence of its passage.

Adversely affected employees in oil, coal and other fossil-fuel sector jobs would qualify for a weekly check worth 70 percent of their current salary for up to three years. In addition, they would get $1,500 for job-search assistance and $1,500 for moving expenses from the bill’s "climate change worker adjustment assistance" program, which is expected to cost $4.2 billion from 2011 to 2019.

The bill passed the House a week ago in a hotly contested 219-212 vote, with supporters arguing that a principal reason to support the bill is that it would create millions of new jobs. But analyses from the political left and right argue that potentially millions of jobs in industries tied to traditional fossil fuels would be lost and, at least initially, not enough "green" jobs would be created to replace them.

"Can you name another jobs-creation bill that was so concerned about its potential impact that it preemptively included a benefits’ program for the millions of workers it expected to displace?" asked Chris Tucker, a spokesman for the Institute for Energy Research, a pro-oil industry independent think tank.

While the analyses assume displaced workers will eventually find jobs, the liberal-leaning Brookings Institution predicts a net job loss of 0.5 percent over the first 10 years that carbon reduction legislation, called "cap-and-trade," is in effect. The conservative Heritage Foundation found that by 2030 net job losses would top 1.1 million, while the Coalition for Affordable American Energy, an industry group, estimates that more than 3 million jobs would be lost by 2030 as a result of the cap-and-trade system.

All Pain, No Gain

Government interference like this always costs jobs. The plan is a


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Phil's Favorites

What if it Doesn't End Badly?

 

What if it Doesn’t End Badly?

Courtesy of 

The past decade has been one of endless prosperity. At least in risk assets. Since 2011, the S&P 500 has gained nearly 300%.

The return on certain individual securities makes the overall stock market look like a savings account. Over the same time, Apple and Amazon have gained more than one thousand percent. Netflix more than two thousand percent. Tesla more than sixteen thousand percent. $10,000 invested in Bitcoin five years ago is worth $1.2 million.

GameStop is up 200% in th...



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Zero Hedge

Bond Bloodbath Blows Up Stocks As Redditors-Revenge Hammers Hedgies (Again)

Courtesy of ZeroHedge View original post here.

Bonds and stocks were both battered today...

Source: Bloomberg

Which is why we wheeled out the deer!

Today was the worst day for equity/bond investors since March 2020...

...



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Politics

What is fascism?

 

What is fascism?

A Donald Trump supporter wears a gas mask and holds a bust of him after he and hundreds of others stormed the Capitol building on Jan. 6, 2021. Roberto Schmidt/AFP via Getty Images

Courtesy of John Broich, Case Western Reserve University

Since before Donald Trump took office, historians have debated whether he is a fascist.

As a teacher of World War II history...



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Biotech/COVID-19

How does the Johnson & Johnson vaccine compare to other coronavirus vaccines? 4 questions answered

 

How does the Johnson & Johnson vaccine compare to other coronavirus vaccines? 4 questions answered

The Johnson & Johnson vaccine only requires one dose. Phill Magoke/AFP via Getty Images

Courtesy of Maureen Ferran, Rochester Institute of Technology

Editor’s note: On Tuesday, Feb. 24, the U.S. Food and Drug Administration released the results of its trial of the Johnson & Johnson coronavirus vaccine. The FDA found the vaccine to be safe...



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ValueWalk

The Math On Tesla Inc (TSLA) Doesn't Add Up

By The Acquirer's Multiple. Originally published at ValueWalk.

In his recent interview with Tobias, Drew Dickson of Albert Bridge. discussed The Math On Tesla Inc (NASDAQ:TSLA) Doesn’t Add Up. Here’s an excerpt from the interview:

Q4 2020 hedge fund letters, conferences and more

The Math On Tesla Doesn't Add Up

Mine is it would keep me away from owning something like Tesla, unfortunately, because I can’t get there, even in the most– Toyota and Volkswagen both were founded in 1937, and they’re just incredible global-scale b...



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Digital Currencies

Bridgewater Explains When It Will Invest In Bitcoin

Courtesy of ZeroHedge

Two weeks ago, Bridgewater founder Ray Dalio called Bitcoin "one hell of an invention" adding that:

"I expect Bridgewater to soon offer an alt-cash fund and a storehold of wealth fund in order to better deal with the devaluation of money and credit that we consider to be a major risk and opportunity, and Bitcoin won’t escape our scrutiny.”

And now, after significant attention that his comments received, Senior Portfolio Strategist Jim Haskel sits dow...



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Kimble Charting Solutions

Is Rising Inflation About To Hit U.S. Economy In Big Way?

Courtesy of Chris Kimble

Inflation seems to be a thing of the past… but current trading in bond and commodity markets tell us that it could become a thing of the future!

Inflation hasn’t been an issue, or even on our radar, since the 1980s. Sure, the 2007 surge in oil prices offered some concern but the financial crisis killed any thoughts of inflation.

So what’s got us concerned about inflation in 2021?

Today we take a look at long-term charts of two potential inflation indicators: Crude Oil ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 29 August 2020, 05:46:16 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: Low liquidity means price can MOVE fast either way!



Date Found: Saturday, 29 August 2020, 05:52:11 PM

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Comment: if you have 100% of life savings in stocks alone, please adjust for a crash...



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Mapping The Market

The Countries With The Most COVID-19 Cases

 

The Countries With The Most COVID-19 Cases

By Martin Armstrong, Statista, Jan 12, 2021

This regularly updated infographic keeps track of the countries with the most confirmed Covid-19 cases. The United States is still at the top of the list, with a total now exceeding the 22 million mark, according to Johns Hopkins University figures. The total global figure is now over 85 million, while there have been more than 1.9 million deaths.

You will find more infographics at ...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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