#globalwarming

Palaszczuk backflips on Adani

What a farce. Queensland Labor Premier Annastacia Palaszczuk is about to backflip on the Adani coal mine approval after her federal colleagues were wiped out in Queensland.

Typical. She’ll still lose the next state election in October 2020 for this expediency. She had to weight for the litmus of a federal election to find her missing conviction. Total clown show.

The people have spoken. So all the radical left activists have failed. The bullying of the banks which caved in to this pressure are no better.

This approval process has been 8 years in the making. An Indonesian coal mine took only 18 months.

Queensland Government appointed an advisor, Tim Seelig, to the Dept of Environment. As an anti-coal Greens activist it seems apparent he threw up roadblocks to dissuade Adani from going ahead by unnecessary and overbearing approval processes.

Now Palaszczuk is considering launching an inquiry as to how Seelig was hired into the role despite the applications deadline having ended. Another backflip.

Once again – get woke, go broke!

Go woke, go broke

Yet another example of why CM has cancelled his FT subscription. Where is the critical reporting? This article by Pilita Clark doesn’t critique the ridiculous movement by corporates to virtue signal but falls in line with the stupidity.

Maybe the best metaphor for the woke corporation is parsley. It often looks nice as a garnish but 99.9% of us push it to the side of the plate and leave it to be thrown away.

Corporate hypocrisy is everywhere.

Take Josh Bayliss, CEO of Virgin Group. He says,

“It’s definitely true that right now every one of us should think hard about whether or not we need to take a flight.”

Why doesn’t he close down the airlines in the portfolio? Instead of waiting for his customers to grow a conscience and do the right thing why not force their choice? The obvious answer is that it’s hypocritical.

Airlines operate on about 70% capacity load factor break even so if Virgin flights end up being half full he’ll only end up spewing more or less the same CO2 per flight and go out of business. British Airways, EasyJet and Ryanair will welcome Virgin’s virtue signaling. Go woke, go broke.

Qantas has the world’s largest carbon offset program yet only 2% of passengers elect to pay. That’s the extent of the belief in global warming.

Blackrock’s chief Larry Fink said his asset manager needs to do more than just make money yet it only backed 10% of the climate related shareholder proposals. Why? Supposedly because they would crush profits. All talk, little walk.

BP surprisingly helped prevent a carbon tax it openly launched support for. A fossil fuel company trying to undermine a carbon tax? Wow. Who’d a thunk?

UK shadow chancellor John McDonnell has said Labour would seek to delist companies from the London Stock Exchange that didn’t meet their climate change commitments. In order to meet that, will that mean a child daycare company will be burnt at the stake for not brainwashing kindergarten kids? Will there be a minimum pot plant to child ratio?

How would regulations impact the myriad of different businesses that would trigger being dumped from the LSE? What standard would be applied? CM is betting corporates jus need to “file” a governance statement on climate change which no one will read. As long as 100% of companies file, nothing will happen.

Pretty easy to avoid too. Companies could list on Nasdaq or the Singapore exchange to avoid the regulations and still raise capital. Did you think of that Mr McDonnell? No because it is all about being woke and there are plenty of alternatives to dodge stupid policy. Capital is global.

Pilita Clark closes her article by saying,

“Yet the climate debate is shifting and I am willing to bet that companies failing to match their green claims with solid action face far greater risks than they ever have before.”

Like much of the climate religion, few hard facts are ever presented except the date we are all supposed to die. Even then that is an ever-shifting goal post. We can be assured that when 2028 arrives all of a sudden we’ll have another 12 years to do something. A bit like the joke where a patient asks his doctor how long he has to live and is given an extension so he can pay his bill.

The ever-growing tide of the “woke” corporation is going to thwart ingenuity and entrepreneurship. It is corporate suicide to pander to this nonsense. It is not for companies to bang on about their wonderful commitments. Customers and shareholders can decide for themselves. Maybe if companies listened to both groups they would find profits go up. People are growing sick and tired of being told what to do. How to think.

The world is littered with corporate wokeness backfiring. The irony is much of it is self-inflicted. By trying to create false images of virtue, the results have been disastrous.

P&G had to write off billions from its Gillette brand for the toxic masculinity campaign. Before the campaign Gillette was ranked 7th out of 45 health and grooming brands. After, rock bottom.

There is almost a wave of corporate fear twisted by a minority of social activists like Sleeping Giants which create false narratives about public perceptions of evil companies. There is a flip side.

Chick-fil-A was established by Southern Baptists. They don’t ram their Christian beliefs at all in the restaurants. Activists tried to boycott the fast food outlet because one of the directors personally didn’t support same-sex marriage. Guess what, store numbers have doubled and revenues tripled over the last decade.

Chick-fil-A states it’s mission is, “To glorify God by being a faithful steward of all that is entrusted to us. To have a positive influence on all who come in contact with Chick-fil-A.”

Chick-fil-A is notable by its closure on Sundays, Thanksgiving and Christmas. So people are well aware ofthis corporate backing its religious beliefs.

There is a difference between founding a company on certain beliefs and concocting them to ride a wave of hijacking social movements. Customers are aware of the difference.

Virgin Group can wax lyrical about its concerns in trying to save the planet but the only woke thing would be to shut down. Pushing the guilt back on its customers shows how hypocritical the airline is.

To be honest it gets tiring waiting in corporate lobbies watching flat panel TVs advertising all of the wonderful community things they do. 99% of the transaction with any corporate will be driven by the ability to deliver goods and services, not supporting tree planting. It is not to diminish charity or good intentions, rather to cut back on acting as though they’re angels to avoid being put on an imaginary naughty step that doesn’t exist.

Perhaps CM should recommend a portfolio of non-compliant ESG companies. When the market sells off, all the passive money in ESG compliant names should well underperform those that don’t. Perhaps an asset manager should establish an ETF with a basket of companies that just provide product or service rather than garnish it with lashings of corporate virtue. Here is betting it would be a contrarian winner.

Open letter to Lisa Wilkinson

Dear Lisa,

Oscar Wilde once said that, “the only thing to do with good advice is to pass it on. It is never of any use to oneself.”

Your open letter to Australian PM Scott Morrison effectively pleads for him to ignore the election result and adopt the policies that cost Bill Shorten his job. Labor’s platform was repudiated by the Australian people.

What is it with the left that is so preoccupied with Jacinda Ardern? Her domestic policy track record is awful. Copying Australia’s gun ban does not absolve her of failures elsewhere. Yes, she is young and progressive but it would have been nice for her to understand the cultural significance of donning the hijab rather than thinking it’s just a garment to augment her virtue signaling. Maybe you should talk to Rita Panahi to get a proper perspective on what it means to wear one.

Do you really think the PM will call his counterpart across the ditch if he needs to reach out? Morrison would seemingly have the answers to win an election within 9 months of taking over the leadership after Turnbull had trashed the Liberal brand. That is what his new party is for. He has their loyalty.

Your request to push for stable government is not lost on Mr Morrison. CM hates to tell you that the Prime Minister almost single-handedly won against all the odds and that has absolutely cemented his leadership. Do not forget the cabal of duplicitous leftists (Turnbull, Pyne, Bishop, Banks etc) within the party are thankfully all gone. The LNP can now be healed under his leadership. Did you honestly miss the significance of his win?

It wouldn’t be a letter from a host of The Project if climate change wasn’t on the menu! CM is pretty sure you voted for Zali Steggall in Warringah. Her sole policy platform is climate change. She emphatically said it in her victory speech.

Sadly, the Australian people rejected foolhardy renewable targets that Steggall wants to pursue. The Labor Party can’t risk running a climate change agenda again. Steggall’s targets are more extreme than Labor. Aussies at the coal face know better than Mosmanites at the Avenue Road Cafe how their financial livelihoods could be irrevocably damaged by Labor/Green climate policies. It is now a dead issue.

Did you know that Australia contributes 0.0000156% of global CO2? That means even if we went 100% renewable our impact is zip. Nada. Zero. Your husband’s Tesla has already travelled 150,000km in CO2 terms before it left Elon Musk’s factory.

CM advises you to watch the Sir David Attenborough documentary, Climate Change: The Facts, and note it is almost completely devoid of hard numbers. Many heart string pulling pictures but it is best you put faith in the PM to hit emission targets without trashing our economy in the process. Mr Shorten couldn’t put a price on climate change and paid a huge penalty because of it.

Please do not be concerned with the hot temperatures. It was hotter in the 1890s and early 1900s. Our Bureau of Meteorology has already been in quite a bit of trouble for fiddling the temperature figures. Feel more sorry for iguanas in Florida that fell out of trees due to the bitter cold and snowfalls.

As far as poverty goes, Australia has some of the lowest rates among 1st world nations. Spare a thought for the 118mn Europeans that live below the poverty line, over twice the rate of Australia. 23.5% of Europeans live below the poverty line and 330,000 German households had their electricity cut off because they couldn’t afford to pay for the record high power prices thanks to renewable energy policies. By the way 42,000 Aussies suffered the same fate last year.

Please quit with the “gender pay gap” nonsense. If companies could hire women at 14.1% less than men for the same job then there would be no point hiring men. Your pay packet is superior to many of your Project co-stars so you’re hardly oppressed by the gender pay gap. Choice of industry has a greater bearing on pay than gender.

Childcare is an issue which is being addressed. Domestic violence is way too high but do not ignore the statistics which show female violence against men. It just goes unreported.

While your sentiments are no doubt well intentioned, Jacinda could learn far more from ScoMo on how to win an election given the NZ PM has never achieved it in her own right.

Yours sincerely,

M. Newman, Contrarian Marketplace

Mercedes – “grant us tech neutrality“

As CM has argued for over two years – let the industry have full technological freedom (point 13, page 15) to hit government vehicle emissions targets. Mercedes Benz is requesting the same as they have no plans to phase out diesel or petrol by 2039 because “no one knows which drivetrain mix will best serve our customers in 20 years”. The free market is a funny thing – it works well.

How many renewables companies were sent to the wall thanks to generous subsidies that brought overproduction to a market the government couldn’t afford to sustain?

Will Bill Shorten declare a climate emergency?

Why is Greenpeace demanding PM Scott Morrison declare a ‘climate emergency’? Why not badger Bill Shorten? Labor has an uncosted climate change policy but gone one step short of declaring a full blown “climate emergency” despite the cost of doing nothing being so huge. Probably because climate change isn’t as big an election issue as made out and declaring catastrophe might wreck his chances to move into The Lodge.

Ironically Greenpeace just wrote about the success of Extinction Rebellion with respect to climate emergency. In the process revealing how useless it is at public advocacy to praise a rival playing in the same donation pool. Will these two leftist groups eat each other in months to come when they realize they’re fighting over the same funds?

Are the Greens expecting the Libs to hold onto power? Even if Morrison declared an emergency, not one Greens voter would put Liberal as their second preference.

What we do know is the Greens love law breakers. It is a $3,000 + GST per person fine to climb onto unauthorized parts of the Sydney Harbour Bridge. 15 of them. $45,000 for Premier Gladys Beijiklian. It doesn’t matter if they were experienced abseilers. They should be prosecuted.

Instead of condemning illegal activity the Greens, true to form, were applauding! NSW Greens politician, Cate Faehrmann, was quick to say,

BREAKING: Protesters have scaled the Sydney Harbour Bridge calling on Australia to declare a climate emergency! I applaud their actions 100%. Governments aren’t listening so more and more people are taking desperate action to be heard.”

Imagine if pro-Adani groups handed out leaflets on the benefits to jobs and the economy. The Greens would censure the activity as unconstitutional and demand they be arrested and jailed for heresy.

Woke

Woke! Owns a Toyota Prius 4th Gen, loves the ABC and climate alarmist Zali Steggall but hates Tony Abbott. One wonders what might happen to a car with “Vote 1 Tony Abbott” stickers adorning the bumper? No doubt it would be keyed, have its tyres deflated and the owner alienated by his or her neighbours. Former PM Abbott will be relying strictly on the “silent voter” this Saturday.

To be fair to the driver above, at least the vehicle choice reflects the stance. Most other cars sporting such stickers in the well to do Warringah electorate are gas guzzling SUVs, often the top spec AMG versions too. Proof that some in the more elitist suburbs are happy for others to save the planet on their behalf!

The irony is that after the election, the driver will need to invest in some fossil fuel derived chemicals to remove the stickers…oh well…

Illinois wants $1,000 EV rego tax to make up for fuel excise they skip

CM has always argued that governments will eventually realize that moving to full EV policy will mean losing juicy ‘fuel excise’ which makes up c.5% of total taxes. 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.

Michael McHale, spokesman for electric truck maker Rivian, said, “Imposing fees on EVs that are over 400 percent more than their gasoline-powered counterparts is not only unfair, it discourages promising new technology that will reduce our dependence on petroleum, reduce emissions, and promote the Illinois economy,”

Here is the ultimate irony. Many bought EVs to show their ‘climate change mitigating wokeness. Now that they maybe finally forced to ‘pay’ for that privilege somehow free market economics would seemingly look to sway them to go back to being dinosaurs again.

Don’t think Australia will head straight down this route too if our 50% EV target by 2030 is pushed through as a policy. By that time if you have an EV then you’ll be trapped in your own virtue signaling. CM would prefer to be Mad Max and raid fuel trucks.