The pestilence of cost impositions
Ross McKitrick writes that Ontario’s wholesale electricity price, thanks in large part to the shale gas revolution, has trended down to two to three cents per kwh. But consumers also have to pay a green power levy that adds another 10 -11 cents. He says, “Electricity is cheaper to make than it’s been for a generation, yet Ontarians are paying more than ever.”
Australian Energy and Environment Minister Josh Frydenberg confronts the same issues and addressed them on 28 August’s Viewpoint (see podcast at 16 minutes). Acknowledging that wind requirements create much dearer electricity, he said that the Labor Opposition and state Labor governments have even more ambitious and costly goals. Australia, he maintained, should offset this by producing more electricity from gas (a route State governments are preventing).
Shareholders of major Australian corporate moocher, Infigen, are seeing payoffs from the firm’s lobbying for subsidies. Infigen’s 2016 reported profit increased by 44 per cent. Most revenues came from renewable energy subsidies, the value of which increased 81 per cent last year, when wind’s subsidy averaged $70 per MWh, about tenfold its current EU equivalence.
At least Australia now seems likely to cut one part of its scandalous renewable energy charity, the $1.2 billion ARENA funding vehicle. But, as its former CEO (and prior to that BP CEO) Greg Bourne shows in this interview, the agency will not go quietly.
On Catallaxy Files I suggest the commitments made as part of December’s UN Paris agreement mean that Australia, under its current leadership, can only escape further costs if a Trump victory unravels the whole of the Paris Climate edifice. Undermining one alternative to voting for Trump, the Libertarian Presidential candidate, Gary Johnson channelled his inner Julia Gillard and advocated a carbon tax, a position he has since reversed.
The US and China are reported to be about to ratify the Paris agreement. Jo Nova, pointing out that ratification presently covers countries producing only 1.1 per cent of emissions, quizzes the possibility of this when Obama has not introduced a treaty into Congress. Former adviser David Wirth takes the view that the Paris Agreement is not a treaty (it uses non-binding “should” rather than “shall” language) and a “ratification” would be constitutional and simply be pressure to make the agreement's unscrambling more difficult.
Giving purpose to Obama’s objective, left wing “think tank” Demos (founded in 1993 by the former Marxism Today editor) produced a report claiming horrendous losses for the millennials from climate change unless we act now and comprehensively. “Without action on climate change, a 21-year-old earning a median income will lose $100,000 in lifetime income, and $142,000 in wealth.” Even warming alarmist Ronald Bailey finds these data a tad embellished and points out that on the database the Demos study uses, if comprehensive measures are taken to reduce emissions per capita, incomes of the millennials would be half of what they’d be in a version of business-as-usual.
New crises de jour
Climate change is thought likely to lead to a doubling of hay fever sufferings. This is not perhaps as serious as the climate change induced anthrax plague allegedly sweeping Siberia, an attribution that is derided on WUWT.
But how cute? - an Australian study found zebra finches may be actually singing songs that help prepare their chicks so they are born and grow with more likelihood to survive in a warming climate.
And, just to illustrate how mankind is rectifying the damage from its carbon spewing activities, we are relocating some West Australian tortoises threatened by climate change.
But no such luck for the Bramble Cay rodent which has become extinct supposedly due to climate change on the Great Barrier Reef, though at least one voice suggests its demise was due to other causes – loss of feed due to success of other species in its habitat.
There's an impending coffee catastrophe. Australia’s very own alarmist outfit, the Climate Institute reckons, “climate change is projected to cut the global area suitable for coffee production by as much as 50% by 2050”. Great news for tea, cocoa and chicory producers!