Renewable Energy

XR don’t even believe their own BS

Interesting to see that the Extinction Rebellion (XR) don’t even believe their own prophecies. How interesting to claim 12 years to save the planet and then just strike it out with 12 months. Why not 12 weeks, days or hours? If indeed it is 12 months, why waste time to organize a rally in October? Why waste time? Surely yesterday makes more sense if we must panic.

The chap on the stands was talking about the wish for 10,000 arrests in the hopes presumably of overwhelming police resources and forcing a negotiation.

CM was caught in an interesting conversation with XR followers who were demanding CM was blocked from the forum. CM merely engaged with data and despite mentioning China was 29.3% of CO2 emissions the response was their emissions per capita were lower. While true, what an irrelevant argument to give a free pass to the Chinese when they emit c.30% and rising of the very gas XR are fretting about and demanding we remediate ASAP.

Another XR follower demanded CO2 look at his FB page to justify his command of climate change. Littered with pictures of Greta Thunberg and articles from The Guardian. In any event one post caught CM’s eye – one that CM went back to the XR followers who demanded CM was blocked to explain they should probably look in the mirror.

XR doesn’t rule over anyone but they certainly don’t allow criticism.

Thank God China has clarified the Pacific Island claims with action

One would think China is channeling the former Iraqi Ministry of Information.

China’s Special Envoy to the Pacific, Ambassador Wang Xuefeng, told the Pacific Island Forum in Tuvalu,

“As the largest developing country in the world, China always attaches great importance to the special concerns and legitimate demands of small island countries in combating climate change…Developed countries should earnestly carry out their obligations set out in the (UN Climate Change) Convention and the (Paris) Agreement, including providing sufficient support in terms of finance, technology and capacity-building to small island countries and other developing countries to help them increase their capacities in combating climate change.”

What he should have added was,

We intend to belch as much CO2 as we please until 2030. We know we’re already 29.3% of global CO2 emissions. We’re not sure why but until the Extinction Rebellion Beijing chapter starts we figure it mustn’t be a concern in China. ”

Perhaps the most laughable part of it was to say all countries, big or small, are equal in China’s eyes. Except HK, Taiwan, Paracelsus, Spratly and Senkaku Islands.

It wasn’t so long ago that CM was covering machinery stocks and local Chinese governments preferred industry polluted because it meant fines that filled up their coffers. The industry obliged because it was cheaper to produce by paying the fines.

Perhaps China will open its doors to all these climate refugees when whole villages are forced to move to mountain tops.

We should expect that Ambassador Wang will travel by sailing boat to future summits. It’s for the planet you know.

Extinction Rebellion prepares for the communist catwalk

That’s it folks. Forget fashion. Ditch your Manolo Blahniks. Shred your DVF dresses. Burn your designer Armani jeans in a pyre. Even better write a placard and protest outside Gucci or Louis Vuitton. It’s for the planet you know.

Extinction Rebellion (XR) has said London fashion week is unsustainable. Ladies, prepare to wear drab grey gender neutral pant suits from now on. Men will be allowed to wear a skirt presumably so as to foster transgenderism. This will be year round. We’ll be allowed one set only.

The Guardian journalist, Lucy Siegle, wrote,

“the environmental group Extinction Rebellion has seized the initiative, writing to the British Fashion Council (BFC), conveners of London fashion week, demanding it is scrapped in favour of “a people’s assembly of industry professionals and designers as a platform to declare a climate and ecological emergency”

So let’s get this straight, these XR hippiecrits use the very materials and dyes to make a fashion statement to push their agenda.

Tell you what XR, given that China is the largest producer of textiles, please take your protest to Beijing. While you’re at it you can protest China’s 29.3% (and growing) impact on CO2 emissions. Two for the price of one. President Xi would warmly welcome your presence in one of his jails. Afterall you encourage peaceful arrest although you might want to update your legal assistance page for those who do end up being arrested in Tiananmen Square.

Jacinda, time to deal with fects

Jacinda

NZ PM Jacinda Ardern! You may be the high priestess of wokeness but sadly you need to have a better grasp of numbers. CM already detailed that Australia is more generous by a considerable currency-adjusted per capita margin than your Wellness Budget. Look at the ratio of Kiwis living in Aus vs Aussies living in NZ. 570,000 plays 37,000.

Sledging Aussie PM Scott Morrison may win brownie points with the left (and the global mainstream media cheerleading squad will find you faultless) but here are some facts you might consider before you speak:

  1. China is 45% of global coal powergen. China has over 1,000 coal plants in operation. A further 126 are under construction and another 72 are in the planning stage. Australia has only 2 in the pipeline.
  2. China has grown CO2 emissions from 10.6% of the global total atmosphere in 1990 to 29.3% today. Australia has slipped from 1.21% to 1.08% respectively. You are but a spec.
  3. Since 1990, Australia’s CO2 emissions per capita have risen by 1.8%. NZ has grown by 10.8%. Yes, we emit more CO2 per capita in gross terms because we have a monster mining industry that you don’t. Australia’s impact on global CO2 is 0.0000134% of the total atmosphere. Yours is 0.00000124%. Nothing. So no matter what we do, our impact via virtue signalling will account for zero. Feel free to flash those pearly whites to the adoration of the sheep that think you should lead a global government. No thanks.

The NZ PM’s Wellness Budget has received lots of accolades. A true leader! Champagne socialist Sir Richard Branson also praised her saying other countries should take note. Despite owning an airline…

The idea that a budget should be solely based on economics is not progressive and more should be directed at “well-being”. That is not to say this budget is not “well-intentioned”. However, the statistics compared to across the ditch do not fare well in relative terms.

Comparing her newest policies versus Australia reveals the kangaroos get better access to social services than the kiwis. How surprising that none of the mainstream media bothered to look at the budget numbers on a like for like basis? Just praise her because she represents their ideal version of a socialist leader.  CM has looked through both budgets and adjusted for currency to make for easier like-for-like comparisons.

When it comes to health spending per capita (currency-adjusted), Australia is expected to climb from A$3,324 in 2019 to A$3,568 in 2022. NZ is expected to go up slightly from A$3,516 to A$3,561 respectively.

On social security and welfare, Australia is expected to pay out A$7,322 per capita in 2019, growing to A$7,977. NZ, on the other hand, is forecast to go from A$5,573 per head to A$6,489.

On mental health, Australia forked out around A$9.1bn exclusively on these services reaching 4.2m citizens last year. NZ is planning on spending A$45.1m in 2019 with a total of A$428m by 2023/24 to hit 325,000 people on frontline services for mental health. While the move is a positive one, NZ will allocate A$1.78bn to mental health as a whole over 5 years. On an annualised basis, Australia will still allocate 5x the NZ amount to mental health per capita. So much for wellbeing.

On education, NZ plans to increase per capita spending 7.9% between 2019 and 2022 whereas Australia will lift it 12.5% over the same period. NZ spends around 2x Australia per capita on education although PISA scores between 2006 and 2015 are virtually identical (and both heading south)

On public housing, Ardern can claim a victory. Australia is expected to cut spending per capita from A$240 in 2019 to A$194 in 2022 when NZ will go from A$137 to A$282. Although let’s hope Ardern has more success than her KiwiBuild policy. The Australian’s Judith Sloanrightly pointed out,

“Ardern also has stumbled with other policies, most notably KiwiBuild. The pledge was to build 100,000 additional affordable homes by 2028.

It has since been modified to facili­tation by the government to help build new homes. Moreover, the definition of afford­ability has been altered from between $NZ350,000 ($340,000) and $NZ450,000 to $NZ650,000.

What started off as an ill-considered public housing project has turned out to be an extremely unsuccessful private real estate scam. The government estimated that there would be 1000 homes built last year under KiwiBuild; it turned out to be 47.”

Good news KiwiBuild has made it to 250.

 

Buhahahahaha

In 1999, CM was told by the pro-EV lobby that electric cars would be 10% or the market by 2010. In 2019 EVs are struggling to nudge 1.3%. If EV’s have managed to achieve much more than 10-12% by 2035 it will be a miracle.

10 reasons it will be highly unlikely:

1) Australia sold just over 1.15m cars in 2018. In 2008, SUVs comprised 19% of total sales. Today 43%. So much for the unbridled panic about catastrophic climate change if consumption patterns are a guide.

2) Australian fuel excise generates 5% of total tax revenue. It is forecast to grow from $19bn today to $24bn by 2021. If government plans to subsidize then it’ll likely to add to the deficit, especially if it lobs $5,000 per car subsidies on 577,000 cars (50% of 2018 unit sales in Australia).

CM has always argued that governments will eventually realize that moving to full EV policy will mean losing juicy ‘fuel excise’. Point 16 on page 19 for those interested.

Cash strapped Illinois has proposed the introduction of a $1,000 annual registration fee (up from $17.50) to account for the fact EVs don’t pay such fuel taxes. Note Illinois has the lowest investment grade among any other American state and has to allocate 40% of its budget just to pay outstanding bills. It is also home to one of the largest state pension unfunded deficits per capita in the country.

3) cash for clunkers? If the idea is to phase out fossil fueled powered cars, surely the resale/trade in values will plummet to such a degree that trading it on a new EV makes no sense at all. False economy trade where fossil fuel owners will hold onto existing cars for longer.

4) Global EV production is 2.1m units. Looking at existing production plans by 2030, it is likely to be around 12mn tops on a conservative basis. Australia would need want 5% of world EV supply when were only 1.2% of global car sales. Many auto makers are committed to selling 50% of EV capacity into China. So Shorten will be fighting for the remaining pie. No car makers will export 10% of all EV production to Australia without substantial incentives to do so.

Don’t forget Alexandria Ocasio-Cortez also intends to get every fossil fueled powered car off the road in a decade. The US has 270 million registered vehicles, the overwhelming majority being petrol powered. The US sells 16-17mn cars a year (sadly slowing). Therefore in the US, 16 years would be required to achieve that target.

5) Ethics of EVs. To save the planet, the majority of cobalt to go into making the batteries comes from African mines which use child slave laborers. There is a moral scruple to keep a virtue signaling activist awake at night!

Not to worry, Glencore has just announced last week it is closing its cobalt capacity in DR Congo which will flip the market from surplus to deficit (at 1.2% global market share). Oops.

6) EV makers aren’t happy. In Europe there are over 200 cities with EV programs but none are alike. In the quest to outdo each other on the virtue signaling front, car makers are struggling to meet such diverse requirements meaning roll outs will be slow because there is no movement to standardize.

7) EV suppliers aren’t convinced. Because of the above, many EV suppliers are reluctant to go too hard in committing to new capacity because global car markets are slowing in China, US, Europe and Australia. High fixed cost businesses hate slowdowns. Writing down the existing capacity would be punitive to say the least. New capacity takes a minimum of 2 years to come on line from conception.

8) The grid! In the UK, National Grid stated that to hit the UK targets for EVs by 2030, an entirely new 8GW nuclear plant would be required to meet the demands of EV charging. Australia can barely meet its energy needs with the current policies and doubling down on the same failed renewables strategy that has already proved to fall well short of current demand ex any EVs added to the grid.

9) in 1999 automotive experts hailed that EVs would make up 10% of all vehicle sales by 2010. In 2019 EVs make up around 2.5%. So 9 extra years and 75% below the target. The capacity isn’t there much less consumers aren’t fully convinced as range anxiety is a big problem.

10) charging infrastructure is woefully inadequate. Await another taxpayer dollar waste-fest. Think NBN Mark II on rolling EV chargers out nationwide. The question then becomes one of fast charger units which cost 5x more than slower systems. If the base-load power capacity is already at breaking point across many states (Vic & SA the worst) throwing more EVs onto a grid will compound the problem and drive prices up and potentially force rationing although people look to Norway.

Norway is a poor example to benchmark against. It is 5% of our land mass, 1/5th our population and new car sales around 12% of Australia. According to BITRE, Australia has 877,561km of road network which is 9x larger than Norway.

Norway has around 8,000 chargers countrywide. Installation of fast chargers runs around A$60,000 per unit on top of the $100,000 preparation of each station for the high load 480V transformer setup to cope with the increased loads.

Norway state enterprise, Enova, said it would install fast chargers every 50km of 7,500km worth of main road/highway.

Australia has 234,820km of highways/main roads. Fast chargers at every 50km like the Norwegians would require a minimum of 4,700 charging stations across Australia. Norway commits to a minimum of 2 fast chargers and 2 standard chargers per station.

The problem is our plan for 570,000 cars per annum is 10x the number of EVs sold in Norway, requiring 10x the infrastructure.

While it is safe to assume that Norway’s stock of electric cars grows, our cumulative sales on achieving plan would require far greater numbers. So let’s do the maths (note this doesn’t take into account the infrastructure issues of rural areas):

14,700 stations x $100,000 per station to = $1,470,000,000

4,700 stations x 20 fast chargers @ A$60,000 = $5,640,000,000 (rural)

4,700 stations x 20 slow chargers @ A$9,000 = $846,000,000 (rural)

10,000 stations x 5 fast chargers @ A$60,000 = $3,000,000,000 (urban)

570,000 home charging stations @ $5,500 per set = $3,135,000,000 (this is just for 2035)

Grand Total: A$14,091,000,000

73 days to drop fossil fuels

73 days? CM thought we had 12 years. If that’s the outcome then it’s time to party hard. Well 73 days actually equates to the upcoming national election in Canada although Canadian Green’s leader Elizabeth May has made the bold prediction that unless Canada transitions off fossil fuels by the election date it faces unsafe levels of heat and a climate catastrophe.

Will Canadians be so afraid of heat that they’ll vote in such lunacy given the overwhelming drubbings handed out to parties with a “carbon” agenda in provinces like Alberta and Ontario?

The only hot air Canadians need worry about is that coming from her mouth.

Uh Oh! Tesla’s next big problem

Glencore.png

Glencore reported on p33 of its half-yearly results that it is suspending its cobalt mining in the DR Congo. It noted that, “Mutanda’s economic viability has deteriorated since the update provided at the 2018 Results presentation in February 2019

Note that Mutanda provided 25kt of cobalt, a vital ingredient in making batteries for electric vehicles (EV). In Darton Commodities ‘2018-2019 Cobalt Market Review,’ it forecast total global cobalt supply of 140kt in 2020 vs. total global demand of 132kt. Knocking out Mutanda will push the market into 19kt deficit.

For a company like Tesla that is trying to ramp volumes at lower/discounted prices, higher raw input prices will only make life harder in making sustainable profits.

How lucky we are that Bill Shorten never got his 50% EV sales by 2030 plan into effect.