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Paris Climate Accord Is A Dead Deal Walking As $100 Billion Climate Fund Disappears

April 12, 2017
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By Paul Homewood

 

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https://www.the-american-interest.com/2017/04/12/the-magic-disappearing-100-billion-climate-fund/

 

From The American Interest:

 

Shocking news—the magic $100 billion climate fund appears not to be taking shape! Even optimistic estimates say the fund is $40 billion short, and developing countries say that understates the problem. The Financial Times:

Climate ministers from Europe, India, Brazil and South Africa have gone to Beijing in recent weeks, hoping to sustain momentum from the Paris talks despite the Trump administration’s dismantling of US regulations meant to limit American emissions.

But discussions have quickly run up against the issue of financing.  “Developed countries have not met their commitments. In their reports a lot of their commitment is in the form of development aid. That doesn’t meet the commitment to contribute to new funds,” China’s top climate change negotiator, Xie Zhenhua, told a briefing on Tuesday. “A lot of countries don’t want to chip in. I said to the European minister: that’s your problem as developed countries. It’s your responsibility to work together and sort it out.”

First world donors have been busily relabeling other foreign aid as contributions to the climate kitty. For developing countries, this is a cheat—they expect $100 billion in new money.

Or, to put it more accurately, they are not nearly stupid and naive enough to believe the lies Western diplomats tell when trying to bamboozle naive green voters at home that they are “Doing Something” about climate change. So they don’t really expect all that money, but hope to use these commitments to pry something out of the West. Also, since the West will certainly default on these bogus commitments, developing countries have all the justification they need to blow off their own commitments when the time comes.

This, one notes, is the house of cards that the last Administration claimed was a big piece of its legacy.

In any case, China, who the clueless Western press has tried to spin as the new hero and leader of the climate movement, is craftily working to widen the north south rift, piously calling on the selfish northern countries to make good on the $100 billion in new money. This failure will, of course, provide China with justification to walk away from any targets it wishes. After all, the West welshed first.

Climate diplomacy has become the leading forum in our time for hypocritical posturing and the politics of pretense. Until the green movement wises up, develops a serious and pragmatic agenda, and pursues a strategically sound political approach, this sorry state of affairs is likely to continue.

https://www.the-american-interest.com/2017/04/12/the-magic-disappearing-100-billion-climate-fund/

 

 

Meanwhile, the Financial Times reports that China is busy converting some of their vast coal reserves into oil and gas:

 

coal-conversion

An existing coal conversion plant in Ningdong © Getty

Water-guzzling coal-conversion projects are springing to life in arid western China, setting the stage for the large-scale deployment of what was previously a niche industry.
A three-year downturn in coal prices has revived projects that convert coal to motor fuel, petrochemical feedstock or gas, after many were shelved in 2008 because of concerns about water supply and pollution.
Successful development in China opens the door to the export of coal-intensive technologies, undercutting international efforts to limit emissions of carbon and other greenhouse gases.
Coal conversion is not only highly polluting, it also consumes large amounts of water.  “It’s certainly something China is focusing on,” said Benjamin Sporton, chief executive of the World Coal Association.  “As the energy mix diversifies, coal producers are coming under pressure and they are looking at other ways to use coal.”
Chinese coal-conversion projects have been stop-start for years. They are plagued by technical difficulties, billions of dollars in losses and bureaucratic reversals. New coal conversion targets were set in January after Chinese president Xi Jinping endorsed a mammoth coal-to-oil plant in Ningxia, a desert region with some of the world’s richest coal reserves.  […]
China’s coal giants want to promote coal conversion overseas, especially as part of China’s “Belt and Road” initiative. “We are pushing overseas projects where there are low-cost coal resources,” Mr Zhang said.
Projects that work in China’s state-dominated economy may not be practical elsewhere. Coal conversion has become profitable in China because of an unusual combination of low coal prices relative to state-set gas or petrol prices.
Coal-to-liquids projects normally make economic sense only when oil prices are high or supply is limited. The technology was first developed in Nazi Germany, and commercialised in apartheid-era South Africa.
Natural gas prices are set relatively high in China to justify pipelines running thousands of miles from central Asia to population centres in the east. That gives an opening to gas derived from coal, which is projected to supply 12 per cent of China’s gas consumption by 2020. The switch to gas forms part of Beijing’s Paris agreement pledge for emissions to peak around 2030.

http://www.thegwpf.com/cheap-coal-drives-chinas-new-coal-boom/

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16 Comments
  1. martinbrumby permalink
    April 12, 2017 5:00 pm

    I think that all this “climate justice” baloney was initiated by the likes of Naomi Klein, Schnellnhuber, Trenberth, Gleick and the rest in the certain knowlege that the denizens of the “developing” and “undeveloped” countries would forever blame the developed world for any natural (or unnatural) disaster that befalls them in future.

    Tsunami in Indonesia? Heat wave in Sudan? Flooding in Bangladesh? Earthquake in Pakistan? Cyclone hits the Philippines? A wildfire in Eritrea?
    Never happened before.

    Obviously caused by The Great Satan and its allies. As the Imam will point out.

    And now the bar stewards won’t cough up the promised Billions to cover their Climate Dept.

    There are plenty in those countries (and indeed their numerous relatives living here) who are quite capable of joining up the dots, to their entire satisfaction.

    And have no doubt, the Beeb and most of the Meejah will redouble their efforts to excuse any resulting atrocity on the streets as being entirely ‘understandable’, even if not entirely ‘justified’.

    • Athelstan permalink
      April 12, 2017 7:10 pm

      Or, failing all of the above …………….blame it all on Brexit!!

  2. Ian Magness permalink
    April 12, 2017 5:01 pm

    Oh dear.
    Best sell all shares in supercar, limousine and private jet manufacturers.
    But don’t worry, Britain will still send £billions regardless.

    • Gerry, England permalink
      April 13, 2017 2:54 pm

      Given the publicity for Muskrat’s Tesla now having a stock market value greater than Ford or GM, your comment regarding shares is well timed. Tesla have never made a profit; made just 76,000 cars in 2016 while GM made 10million and Ford 6, 651,000; Tesla revenue was $7Bn while the profit at GM was $9.4Bn. Truly a bubble stock with the best recommendation to short Tesla shares for when reality bites hard.

  3. April 12, 2017 5:58 pm

    Predictable but satisfactory save for the fact that HMG will, no doubt, continue its moral posturing.

  4. CheshireRed permalink
    April 12, 2017 6:23 pm

    O/T. Here’s one straight out of Climate Propaganda Central. From using NOAA’s dodgy data, laughably misleading CO2 graphics to Cook et al and invented claims of ‘weather disruption’, this is what passes for climate education. Plenty to scrutinise here, Paul.

    http://www.carbonliteracy.com/the-project/

    https://www.facebook.com/CarbonLiteracyProject/?hc_location=ufi

    These ‘7 things to know’ are just laughable.
    http://www.nationalgeographic.com/magazine/2017/04/seven-things-to-know-about-climate-change/

  5. AlecM permalink
    April 12, 2017 6:29 pm

    But the incidence of fraud by UN employees has always been exceptionally high.

    Low salary means high embezzlement.

    • April 12, 2017 9:59 pm

      Rubbish! High salaries mean BIGGER DISHONESTY!

      • AlecM permalink
        April 13, 2017 10:29 am

        No: the UN also has poor financial management because they’re all in The Game. After all, they don’t have to earn the money and have superb pension savings. As for the scientists, they’re appointed for political, not scientific reasons.

  6. Athelstan permalink
    April 12, 2017 7:21 pm

    Or, to put it more accurately, they are not nearly stupid and naive enough to believe the lies Western diplomats tell when trying to bamboozle naive green voters at home that they are “Doing Something” about climate change. So they don’t really expect all that money, but hope to use these commitments to pry something out of the West. Also, since the West will certainly default on these bogus commitments, developing countries have all the justification they need to blow off their own commitments when the time comes.

    Crikey!

    F, f, f, f, kinnel and where to start?…………………..Indeed, there is some very abstruse mental gymnastics going on there. Plus, if one considers that the whole premise of ‘man made warming’ is a fiction magicked up by some pusillanimous pols and a consensus of 97% of approx 40 climastrologists, the sort of thinking to get to where the above para’ arrives is some quite mind blowing, some astonishing leap of imagination and – of Universal proportions, its layers of lies rises to the heavens and what is needed so very urgently is, a bodkin:

    To take all of the ‘manna’ out of the equation, then ‘pricked’ – watch the balloon deflate back down to earth.

  7. Kevin permalink
    April 12, 2017 7:38 pm

    And in other news … Bear seen defecating in the woods.

  8. April 12, 2017 10:00 pm

    Substitute ‘balloon’ for ‘billion’ and it makes more sense. It was always hot air not real money.

  9. tom0mason permalink
    April 13, 2017 12:05 am

    Now this is utter nonsense.

    Just think, when the credit crunch hit national banks the world over, national banks just magiced-up new money without any difficulty.
    The International Monetary Fund and the World Bank are institutions in the United Nations. The UN has the two international finance companies to call on. The UN just have to ask each of them to magic up some money like the rest of the world’s national banks managed to do.

  10. April 13, 2017 7:26 am

    Reblogged this on ajmarciniak.

  11. Gerry, England permalink
    April 13, 2017 2:45 pm

    It shows that apart from Donald, all the Western leaders may stupid but they aren’t that stupid.

  12. April 13, 2017 5:36 pm

    Amazing,- galactic WASTE OF MONEY. Utter stupidity reigns.

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