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DAILY ENERGY NEWS | 08/01/2023
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** They're not even going to let you live in a van down by the river in the green utopia.
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Independent ([link removed]) (7/31/23) reports: "A 10-mile trip plunged a father-of-two into credit card debt by costing him £2,000 after he drove his motorhome to and from a campsite in London’s low emission zone (LEZ) on Easter weekend “without knowing” he was being charged. Geoffrey Eaton, 53, from Colchester, travelled to the capital on Good Friday with his wife Linda, 53, and their two children Adam, 16, and Elizabeth, 13, to visit family for what promised to be a 'relatively cheap' and 'fantastic' day out, but it turned into a 'very nasty surprise.' The self-employed architect received a penalty notice from Transport for London, demanding he pay £2,000 after driving his motorhome five miles in and out of the capital’s low emission zone, which extends to the M25 and is different to the ultra low emission zone (ULEZ). Geoffrey made two five-mile journeys within the zone, to and from a campsite
in Abbey Wood, for which he was charged £300 each time, but says that he was unaware the zone extended past the capital’s North and South Circular roads, and that he did not see any warning signs. Only when he received the penalty notice through the mail a week later on April 18 did he realise his mistake, by which time the cost of each journey had been hiked up to £1,000 due to late payment for the charges he was not aware of, leaving him no option but to use his credit card and put his summer holiday plans on ice."
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** "Environmentalists should recognize the shale gas revolution in America, for instance, as beneficial to society – and lend their full support to helping it advance in other parts of the world where possible. Developing and sharing shale technologies must become an immediate global goal. "
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– Richard A. Muller & Elizabeth A. Muller, Centre for Policy Studies ([link removed])
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ESG continues to be proven to be an utter and complete scam.
** Financial Times ([link removed])
(7/31/23) reports: "Companies rated highly on widely accepted environmental, social and governance metrics pollute just as much as lowly rated companies, research has found. This perverse lack of correlation holds even if companies’ carbon intensity — their carbon emissions per unit of revenue or market capitalisation — is compared purely to their environmental rating, according to Scientific Beta, an index provider and consultancy. 'ESG ratings have little to no relation to carbon intensity, even when considering only the environmental pillar of these ratings,' said Felix Goltz, research director at Scientific Beta. 'It doesn’t seem that people have actually looked at [the correlations]. They are surprisingly low.' 'The carbon intensity reduction of green [ie low carbon intensity] portfolios can be effectively cancelled out by adding ESG objectives.' The findings come amid strong demand for ESG investment, with 'sustainable' funds globally attracting net inflows of $49bn in the first half
of this year, according to Morningstar, while the rest of the fund industry saw outflows of $9bn. Goltz and his colleagues looked at 25 different ESG scores from three major providers: Moody’s, MSCI and Refinitiv. They found that 92 per cent of the reduction in carbon intensity that investors gain by solely weighting stocks for their carbon intensity is lost when ESG scores are added as a partial weight determinant."
Radical environmentalism is never just about "the environment" it's about wielding every aspect of the government's power.
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Despite the hysterics, the world is not "boiling."
** Wall Street Journal ([link removed])
(7/31/23) op-ed: "One of the most common tropes in our increasingly alarmist climate debate is that global warming has set the world on fire. But it hasn’t. For more than two decades, satellites have recorded fires across the planet’s surface. The data are unequivocal: Since the early 2000s, when 3% of the world’s land caught fire, the area burned annually has trended downward. In 2022, the last year for which there are complete data, the world hit a new record-low of 2.2% burned area. Yet you’ll struggle to find that reported anywhere. Instead, the media acts as if the world is ablaze. In late 2021, the New York Times employed more than 40 staff on a project called “Postcards from a World on Fire,” headed by a photorealistic animation of the world in flames. Its explicit goal was to convince readers of the climate crisis’ immediacy through a series of stories of climate-change-related devastation across the world, including the 2019-20 wildfires in Australia. This summer, the focus has
been on Canada’s wildfires, the smoke from which covered large parts of the Northeastern U.S. Both the Canadian prime minister and the White House have blamed climate change."
Energy Markets
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Brent Crude Oil: ↓ $84.71
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