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China Busy Buying Up Mark Carney’s Stranded Assets

October 4, 2015

By Paul Homewood   

 

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http://www.iea.org/ieaenergy/issue7/chinese-national-oil-companies-investments-going-global-for-energy.html

 

 

Mark Carney believes that fossil fuels will soon become stranded assets, as the world will fall for the global warming scam and stop using them.

 

Apparently, nobody told the Chinese!

According to the IEA, they have been busy buying up all the global oil and gas assets they can get their hands on, and, as of last November, control 7% of worldwide crude oil output.

9 Comments
  1. Green Sand permalink
    October 4, 2015 9:45 pm

    It would appear China has already acquired one stranded asset, to wit one Carney.

  2. October 4, 2015 9:46 pm

    Thanks for the news, Paul.

    “Mark Carney believes that fossil fuels will soon become stranded assets”, “the world will fall for the global warming scam and stop using them.”

    But hat would require world stupidity, which is worse than global warming/climate change.
    I hope it is not worse than we thought.
    Lets see how global stupidity is doing after this coming winter in the Northern Hemisphere, that is forecast to be intense by Joe Bastadi at http://www.weatherbell.com

  3. John F. Hultquist permalink
    October 4, 2015 10:57 pm

    At some point there will be stranded assets. Historically wheat was made into flour using stones. Now, corrugated cylinders made from chilled steel are used. As with most modern processes, stones have become stranded assets.
    When there are useful and acceptable alternatives for oil (and coal) some of those materials will be left in the ground. Until then the only thing working to halt drilling and mining is political whimsy.

  4. markl permalink
    October 4, 2015 11:00 pm

    The Cult of Warmists made several mistakes. First, actually believing with a propaganda war that the world would/could divest itself of fossil fuels without a cost effective replacement. Second, that everyone would believe their story to begin with. There are also people in the US picking up energy interests being discarded for political reasons. Fools and their money are soon parted.

  5. THX1138 permalink
    October 5, 2015 7:06 am

    I think that these rich guys are well aware that petroleum is a renewable resource, and that it is constantly being produced by the planet Earth. There is no such thing as “peak oil” in our lifetime, and in the lifetimes of our offspring, and generations of offspring after them. I think that they are well informed about the beneficial effects of carbon dioxide in our atmosphere and ecosphere, but the criminal organizations require beLIEf in these erroneous ideas in order to profit by appearing to be prophets of doom. Fear is more powerful a marketing tool than sex. And the TeeVee uses both to sell these insane ideas.

  6. johnmarshall permalink
    October 5, 2015 10:54 am

    Carney outside his expertise zone. Should stick to banking.

  7. October 5, 2015 12:22 pm

    China has been investing in oil based imperialism for years: it more or less took-over South Sudan’s oil fields and many others. When the middle-east eventually sorts out it will be China and possibly Russia who come out as the winners.

    The AGW fanatics will be surprised as they think everyone “believes”, but what will this massive change of influence do for world stability, will the USA transfer their “Fear politics” from Russia to China?

    It is clear that fossil fuels will be the engine of economic growth for at least one more generation: unfortunately not in Europe, unless the sense being shown by Holland and Germany recently spreads!

  8. October 5, 2015 1:47 pm

    And Soros is also buying into coal, I read. Meanwhile, David Archibald’s summary in his book “Twilight of Abundance” applies: ““Global warming did serve a couple of useful purposes. The issue has been a litmus test for our political class. Any politician who has stated a belief in global warming is either a cynical opportunist or an easily deluded fool. In neither case should that politician ever be taken seriously again. No excuses can be accepted.”

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