While reps from European countries are in Durban demanding we go green, CO2 Handel here reports that the very same governments are cutting back on “climate protection” investments. That makes Durban a farce.
According to a report called Durban Dynamics: Navigating for progress on climate change“, by consultancy Ernst & Young, governments around the world are drastically cutting back their investments in climate protection. In the worst case up to $45 billion are planned to be cut from environmental protection measures. The reason they say is the global financial mess.
Now if these investments were truly as lucrative as many like to claim they are, why on Earth would they cut back on them? The answer is obvious: That green energy is lucrative is a lie. It’s been a scam from the first day.
CO2 Handel writes:
If one sums up the already decided savings measures, then a you get a cut of $22.5 billion. ‘If the debt crisis continues to escalate and countries should then become forced to pass additional comprehensive savings measures, then in the worst case that number may double.’ said Peter Nolden, Partner at Ernst & Young.
Strangely, the lion’s share of these cuts is taking place in Europe, the very continent that constantly preaches the global warming doctrine and insists the rest of the world do as it says. Germany already plans $2 billion less investment in “climate change fighting” projects by 2015. Bankrupt Spain, once a champion in solar energy, is cutting back a whopping $5.1 billion and Great Britain will cut back $4.2.
If push comes to shove (and with the financial situation progressing as it is, that’s very likely) then “the German government in the worst case will cut $8.3 billion in climate costs,” writes CO2 Handel. Other countries to make cuts: USA $6.4 billion and Japan $6.1 billion.
I financial crisis means that fiscal discipline needs to be exercised. Of course you cut out what is wasteful. Do you think the greens have ever wondered why Europe and the US find themselves flat broke? Refusing to heed reality has something to do with that.