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It is amazing that the G7 nations have been so brainwashed by the Oil & Coal lobby, that they have stopped realising that they are only digging their own grave by adopting the Copenhagen draft . The ostrich like behaviour and bais against renewables and towards oil and coal is rather difficult to understand in democracies where a large part of the poulation are politically aware. True that these industries have long been established and produce energy cheaply, that is essential for world economic growth.However it is also important to realise that these are "rulers gone old" however powerfull they may have been in their heydays.Backing the sunset industries of oil and coal will only hurt G 7 . The only alternative is to fund clean energy direct and mass produce it to rapidly lower costs.
But Funding Clean energy direct is easier said than done. It requires innovation and globalization on a unprecedented scale that cannot occur in the energy surplus West which has no inherent market demand for energy. The demand centres are China and India. Fortunately they are also the innovation centres of the world where technologies are made affordable.
With the conventional energy mathematics, by using the Carbon economy , as most Americans would like to apply, it would work out an exorbitant figure of 10 Trillion as the IEC has recently estimated says a NYT report. bit.ly/70p2SL .But are such estimates justified ? Hardly.
Besides the poor countries cannot think of undergoing such an expensive adaptation or transformation that IEC suggests, deal or no deal. Even if Wen and Manmohan accept the oil lobby sponsored emission cap deal being proposed by the Danes at the behest of the G7 it will mean nothing. For history says treaties that are made by political compulsions shall have to be trashed att the earlest convinience and have been done so if difficult to implement or expensive to fund.
IEC says in a carefully worded release says that costs include transformational change to the carbon economy.In a rather lame attempt to explain that the impact will not be drastic the agency said that the costs would ramp up relatively slowly and be largely offset by economic benefits in new jobs, improved lives, more secure energy supplies and a reduced danger of climate catastrophe.But the truth is that this cost is over inflated by atleast 5 times, if not more. A direct investment plan
to fund renewable energy would cost the world only around $200 billion per annum for the next 10 years. But a direct investment has to be made only in China and India to make things flow outward. In short Sudan or South Africa or China or Indian masses can only afford renewable energy products if their costs have been reduced by innovation and mass markets of India and China and both these two countries provide that luxury.
So where is the catch. It halts super profits the carbon economy will bring to the oil, gas and investment sector. The proposal by the coal and oil and the investment banking lobby is that if the Carbon economy is jointly approved by the G7 and the G77 the entire funding of the same will organised by private investment.How is that possible. By building up Carbon speculation to a frenzy and making it compulsory for energy companies to have carbon credits to operate. They must either have it as free-permits as issued by each country to their industries or buy it at auctions.And if they have to buy it emerging economies with higher growth rates will pay more than the already develoved nations who have really no need to invest in energy. Hence G7 is not interested in cheap clean energy. They have energy. They want carbon profits.
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The cash flow for building up the carbon frenzy will be forwarded by the ICE cartel of Oil and investment Bankers who created a USD 2.5 trillion commodity transfer entry cash bubble without commodities changing hands recently. However it is very unlikely that poor nations including the emerging economies like China and India will fall for the carbon or emission economy trap. Not because they are smarter than the EU or U.S. But because they are now forewarned about the investment cost, that setting up and monitoring such a complex carbon or emission economy leads to. The EU which will take the heaviest losses are preparing for a shift to carbon tax mechanism that may be unvieled during the last days of the Copenhagen summit, especially if negotitions fail .That will be effectively bringing EU out of the frying pan and into the fire. The French draft which will be suggesting punitive measures on exports to EU if the Danish deal is not concluded will be the final nail in the coffin for EU as days to come will prove it to be.
Further down in this blog you will find the mechanism of the $ 2.5 Trillion bogus sale scam where forward tradings were done by the biggies namely Goldman Sachs, Morgan Stanley, Deutsche Bank , BP, Shell and Total under the banner of a offshore trading agency ICE that controls the oil and commodity prices world wide by manipulating the prices of commodity futures. See the Powerpoint presentation by theOilman on our blog post of 20th November on the $ 2,5 trillion USD Round trip trading scam. In the coming fortnight, we shall explain in detail how this $ 2.5 trillion fictatious bubble will be injected into the real economy to draw real cash out of your pockets into the virtual carbon economy.
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