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Why?

August 28, 2022

By Paul Homewood

One of our commenters, Peter S, left this  comment, which I’m throwing open for debate:

I like to understand motivations. I repeat the question, why is Carney, the Davos crowd, the ESG investment movement and BlackRock, the investment asset management company managing US$10 trillion trying to kill off the Oil & Gas industry?
They obviously had some financial benefit for themselves in mind and figured that the climate “crisis” had driven politicians who were willing to spend trillions and populations that were acting like scared sheep. But what was their master plan?
Just like the Greens and politicians, they didn’t understand the technology. The are slowly realising that renewables are not replacing gas, they are making gas indispensable. Worse than that, their own actions have made gas supplies limited with no investment likely.
We need to understand the mindset of the money men. These people are powerful. They appear to have got things terribly wrong but we need to understand what they were trying to achieve, and why.

117 Comments
  1. cameronclark1951 permalink
    August 28, 2022 9:35 am

    My comment is pretty straightforward. Do they understand physics and mathematics? A fair proportion of the general population do not, and there are no reasons why that point should not apply to experts too!

  2. Peter F Gill permalink
    August 28, 2022 9:43 am

    MM makes some valid points here: https://rumble.com/v1gqy9p-great-reset-global-elites-and-the-permanent-lockdown.html Regards Peter

    • Craig King permalink
      August 28, 2022 11:29 am

      Thanks for that link Peter. Marc covered a lot of useful ground and hopefully many people will watch it and learn from it.

  3. August 28, 2022 9:44 am

    Carney may be concerned his climate-activist wife will apply the “Lysistrata” strategy! 😉

    • Harry Passfield permalink
      August 28, 2022 10:52 am

      Tick vg!

    • grammarschoolman permalink
      August 28, 2022 12:03 pm

      That would explain Boris’s involvement as well.

    • TerryT permalink
      August 28, 2022 12:41 pm

      Isn’t that why Boris suddenly became a looney greeny?

      • devonblueboy permalink
        August 28, 2022 12:50 pm

        Under the threat of no rumpy pumpy?

      • Stuart Hamish permalink
        August 28, 2022 7:07 pm

        .We are told “his whole family are environmentalists “…….

        .No Prime Minister or indeed any public office holder is entitled to place his family’s religion , values or political ideology above the welfare of the once great United Kingdom …

  4. August 28, 2022 9:51 am

    Convergent Opportunism. I think Mike Yeadon might have coined that.

    Some are outright greedy rent-seekers, some care more for status in the groupthink world they inhabit. Some seek ermine, which Dominic Cummings mentioned as his biggest underestimate to explain stupids. For some it is to assuage the guilt they feel for being rich, or just born rich.

    Our task is how to guard against it. And to help turn things around. Nearly all our MPs voted for the Climate Change Act. They need a respectable ladder to climb down. If the new Chief Scientific Officer were to publish a study saying CO2 does not drive climate, is in fact good for food production, and decarbonisation is not needed they would pivot so fast you could power a small city with them.

    • Borris88 permalink
      August 28, 2022 10:50 am

      All is vanity ( Ecclesiastes)

  5. Jack_H permalink
    August 28, 2022 9:52 am

    To create some kind of energy monopoly?To impoverish us and make us easier to manipulate?

    • Harald G. Martin permalink
      August 28, 2022 5:27 pm

      With the comments coming out of the WEF, “you will own nothing and be happy”, there is also the implied extension of that thinking to “You will get nothing and be happy about it”. Energy control is a very, very close second to food control (which they are also trying to do). Yes, I think these “powers” want to control everything and everyone…their greed and evil seems to know no bounds.

      • Crowcatcher permalink
        August 28, 2022 6:39 pm

        Old adage – The rich get richer and he poor get poorer, just look at how our MPs vote for their ow pay rise!!!!

  6. Lorde Late permalink
    August 28, 2022 9:53 am

    How about plain greed and f**k everything/one else. As long as they can have their remote ‘staion’ in N Z.
    Apologies for the profanity but its as as good as any other word IMO.

    • T Walker permalink
      August 28, 2022 11:55 am

      Acceptable in the context it was used

    • August 28, 2022 2:31 pm

      well deserved comment- no need to apologize

  7. August 28, 2022 9:56 am

    From their perspective they are getting it ‘right’.
    You believe that they want what they say they want, they don’t.
    They want to recreate a feudal system with them as the lords and masters. They want to impoverish the western middle classes so that the vast majority of the world’s population is in a constant state of need and anxiety. In that way they can more easily control the herd.
    Everything is going to plan. ‘Net zero’ , biometric Ids, central bank credits replacing cash , food shortages etc are all planned and required for the ‘reset’.
    You are just seeing the acceleration of this now, the foundations have been worked on for years.
    Our problem is that the people/forces behind this are not ‘an organisation’ they are a group of billionaires, corporations, financiers, NGOs who have common aims and rewards, although different starting points. We can’t vote them out of office, because the politicians are mainly just doing their bidding, quite often oblivious to the motive.
    They rely on many ‘willing idiots’ who are used because their ideologies serve to promote various aspects of this plan ( ie the greens).
    But this is no ‘marxists’ movement, its much more fascist in design. But rather than based on nation state its global.
    There is a major divergence taking place simultaneously. The people behind this are mainly western based although they obviously include elite from China . But the nations increasingly at odds with the US-led financialisation of the world’s economy, the one’s owning commodities rather than debt are now actively planning alternative economic arrangements outside the USD sphere.
    Quite how this will play out is unknown, but the fear is that the ‘finance-led’ group may believe that waging war sooner rather than later may be the only way to secure access to the commodities. hence the underlying reason’s for tensions with China/Russia.
    1984 was supposed to be a novel, not a blueprint for the future.

    • August 28, 2022 11:31 am

      1984 was a blueprint for the future, the date predicted by Orwell for its completion was 2050. Does that date sound familiar?

  8. Rowland P permalink
    August 28, 2022 9:58 am

    The root of it all is in the Proto-cols of the Learned Eld-ers of Zi-on; word splitting in the hopes of avoiding automatic moderation! The book in which they were embodied was published by Sergyei Nilus in Russia in 1905. They were translated by Victor Marsden at not inconsiderable effect on his mental health as they set out the complete plan of the destruction of civilisation, particularly in the Western World.

  9. Martin Brumby permalink
    August 28, 2022 10:00 am

    https://www.conservativewoman.co.uk/paula-jardine-3-it-was-americas-bio-spooks-who-locked-down-the-west/

    This is #3 of a series of four pieces, worth a read. Poke about for 1, 2 & 4

    Paula looks at the links between ‘people’ like Matt Hancock, Bill Gates, Klaus Schwab, Anthony Fauci etc. etc. The Covid scam is essentially the Climate scam on speed. Nothing to do with temperature / weather / health.

    OK, we all know that you shouldn’t blame a ‘conspiracy’ when bungling stupidity can explain.

    We are way past that. Quite enough of this actual conspiracy is ‘hidden in plain sight’. But only for those who can tear themselves away from ‘Marriage at First Sight’ or “Bellenders” or the Footie, for long enough to look.

    And the fact that the BBC won’t touch it is proof.

  10. Rowland P permalink
    August 28, 2022 10:00 am

    Look no further than the “Proto cols of the Learned Elders of Zi on.

    • Martin Brumby permalink
      August 28, 2022 10:04 am

      Paul, please get rid of this nasty little anti-semite.
      He is most likely on here to deliberately tar us with his brush and there will soon be pieces in the Grauniad saying we are all nutters.

    • Orde Solomons permalink
      August 28, 2022 10:29 am

      I come from a Jewish family and I say The Protocols are confected tosh.

      • Martin Brumby permalink
        August 28, 2022 11:13 am

        I’m not from a Jewish family but I know that the “Protocols” were debunked as 100% fake, many decades ago.

        I’m sure Rowland P will be along any minute to advise all to read an interesting book by an Austrian Corporal from the Great War. “My Struggle”, I think it is called in English.

      • Coeur de Lion permalink
        August 28, 2022 1:18 pm

        Come come come everybody! The whole world knows that the ‘Elders of Zion’ statement is an anti-Semitic fake. Cool down.

    • August 28, 2022 3:20 pm

      Go away, Nazi boy.

    • Stuart Hamish permalink
      August 29, 2022 11:02 am

      Copies of the Protocols of the Elders of Zion were on sale in Sydneys Lakemba Mosque bookshop during an open day intended to “dispel negative myths about Islam ……I’m sure this egregious document would not be for sale in Islamic bookstores in Sadiq Khans Londonistan …….The Metropolitian Police would surely be determinedly rooting out all copies as enthusiastically as they persecute speech code transgressors who mock LGBT ideology online . No seriously !! …After all it is known the disgraced Scotland Yard employs Islamic extremists none of whom would share any such anti Semitic prejudice ….They only have a soft spot for female genital , mutilation gay hatred and the Taliban ….That must have upset the careerist hypocrite Cressida Dick noting 52% of British Muslims preferred homosexuality was criminalized and – without a hint of sarcasm – swift remedial action was taken……Has Miss Dick taken to Twitter to express her fury that lesbians have been scolded by British Police at a Pride March to leave the festivities ? [ It is amusing to watch the Woke Reformation starting to eat its own ] Perhaps solidarity with the scungy and widely loathed British Police is a greater concern

  11. August 28, 2022 10:02 am

    I believe we have already been told the real motivation. The WEF & United Nations want all countries & governments to be subservient to their non elected members. In turn these organisations are controlled by a very wealthy elite who use them as a ‘front’ for legitimately controlling everything to their advantage. Like all ‘Quangos’ the little people have no control or say in how these organisations are run or who the members are. We’ve already been fed the Mantra of their plan, “by 2030 you will own nothing, and be happy about it” ; Klaus Schwab World Economic Forum. The Elites will own everything, control everything and we should be grateful for the crumbs they ‘allow’ us to have. My view is we are heading for several civil wars throughout the world when people realise what is happening.

    • Vernon E permalink
      August 29, 2022 3:25 pm

      On the nose delboy.

  12. Rowland P permalink
    August 28, 2022 10:03 am

    Look no further than the “P r o t o c o ls of the L e a r n e d E l d e rs of Z i o n”.

    • August 28, 2022 3:21 pm

      Hoppit, Nazi!

      • Rowland P permalink
        August 28, 2022 9:02 pm

        I would be interested to know if you and others have actually read them. Meanwhile be absolutely assured that I have followed the narrative of human caused global warming for twenty years or so and continue to believe that it is the biggest politically driven fraud ever perpetrated on the human race. So kindly do not label me as a Nazi.

      • August 28, 2022 10:59 pm

        “…and continue to believe that it is the biggest politically driven fraud ever perpetrated on the human race.”

        I think you’re probably right.

        However, it is utterly beyond me why anyone in their right mind would blame the Jews for it.

      • Rowland P permalink
        August 29, 2022 8:09 am

        So, Mr Catweazle, you haven’t read them then…..

      • Stuart Hamish permalink
        August 29, 2022 10:22 am

        The very same gaslighting Catweazle who praised Vladimir Putin the Russian tryrant who envisions himself as the heir of the Tsar Peter the Great noting the Protocols was a Tsarist forgery : ” …..he has me and my wifes support ” … Along with the cringing sycophant Seamus Milne and other figures in the British Labor Party. Good thing there is no truth to the stories Greenpeace are collaborating with the Kremlin

        Here is a Vice report on the Kremlins covert training arming and financing of neo Nazi militias that may interest him John
        McDonnell and that twit Milne

        .Why dont you depart from this blog with the provocateur Rowland you useful idiot trolling pest

        “Putins Secret Neo- Nazi Armies/Decade of Hate ” https://youtube.com/watch?v=XQc6mJ7u8gQ

  13. eromgiw permalink
    August 28, 2022 10:04 am

    If the motivation isn’t obvious then it is most likely a power play. They are putting themselves above the governments of sovereign states, who now have to dance to their tune.

  14. August 28, 2022 10:05 am

    Club of Rome : Limits of Growth 1972:
    Maurice Strong future IPCC founder & WEF leader said
    In order to save the planet, the group asks: Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about? This group of world leaders form a secret society to bring about an economic collapse.’ …
    Christiana Figueres, then UN Climate Chief explained: ‘Our aim is not to save the world from ecological calamity, but to destroy capitalism’
    In 2014 the Club of Rome explained further, declaring that The common enemy of humanity is man. In searching for a new enemy … we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like, would fit the bill.
    Democratic Governor, Dixie Lee went even further:
    “The future is to be World Government with central planning by the United Nations. Fear of environmental crises – whether real or not – is expected to lead to compliance.”
    This is the WEF Agenda, and why IPCC keep banging on about global warming, not because it is happening but because they see it as something that will ‘fit the bill.’

    • August 28, 2022 4:31 pm

      Ah, Christiana Figueres…

      At a news conference last week in Brussels, Christiana Figueres, executive secretary of U.N.’s Framework Convention on Climate Change, admitted that the goal of environmental activists is not to save the world from ecological calamity but to destroy capitalism.

      “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years, since the Industrial Revolution,” she said.

      Referring to a new international treaty environmentalists hope will be adopted at the Paris climate change conference later this year, she added: “This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model for the first time in human history.

      http://www.investors.com/politics/editorials/climate-change-scare-tool-to-destroy-capitalism/

      Now check out the allied “United Nations Replacement Migration Program” and its implications.

  15. Terry permalink
    August 28, 2022 10:06 am

    simply driving up the gas and oil price plus getting a payback on renewables = win win

  16. StephenP permalink
    August 28, 2022 10:15 am

    It looks like a repeat of ‘The Big Short’, a good read by the way, only involving access to fossil fuels where the FF company shares could be picked up at bargain basement prices.
    Then whoopee, they can charge what they like as there is a general realisation that renewables don’t work and we also need FFs as a source of raw materials for a multitude of products.
    The only problem as far as they are concerned is that China and India are not playing the game and are using FFs as if they are going out of fashion and keeping FF and share prices up. As well as prices for raw materials needed for renewables.
    Sorry if this sounds a bit like a conspiracy theory, but the only alternative is that the new religion followers really believe that CO2 is the source of all evil and must be stopped at all costs.
    Our governments are really asleep on the job.
    Follow the money!

    • Coeur de Lion permalink
      August 28, 2022 1:20 pm

      Should I sell Octopus Energy?

    • bobn permalink
      August 28, 2022 11:10 pm

      FF companies have made good profits thanks to the stupidity of Govts who have messed up markets. Govts have blocked supply/demand from working. Govts have blocked drilling (Fracking, Cambo, Jackdaw) taxed energy production (carbon trading scam) and banned coal mining and coal power plants. At every turn Govts have blocked supply increasing in response to demand.
      Hence Govts get the result of their supply blackages – shortages and sky high prices. The few companies still in FF production get a great price on their scarce resources. Resources that are now scarse because Govts have blocked supply.
      Many idiot companies bought into the Green ESG bullpoo and have lost as a result. Anglo American hived off their South African coal mines because Govts and Greens said coal would be banned. Now 1yr later coal is in huge demand. That hived off part of AngAm floated on London stock exchange last year at around 260p a share. On friday they were selling at over 1700p a share. Yes i filled my boots because i could see ESG was just stupid religious nonsense. You could buy BP a yr ago at 360p cause everyone hated FF producers. Today its at 460p. Oops I bought lots of BP last yr.
      All the faults lie with Govts. The crisis is a creation of Govt blocking the free market in energy. This is what socialism produces.

  17. Gordon Hughes permalink
    August 28, 2022 10:21 am

    The question is, I think, wrongly posed. Either they are collectively as thick as an Empire State Building of planks, or they know perfectly well that the oil and gas industry will survive, just not based in Western countries or largely funded by Western investors. Aramco is not going to disappear in the next 50 years no more than will CNOC (China National Oil Company), etc. It has been obvious for nearly a decade that the longer term future of the oil and gas business was a combination of private equity investment (particularly for US operations) and national oil companies in what are conventionally but wrongly described as emerging markets. All of the people mentioned can work that out even if they are unwilling to say this publicly.

    This is not a conspiracy as such but a response to reading the runes. Why not claim virtue for something that was underway regardless of the position taken by investment managers. There was, however, one massive miscalculation. The investors assumed that the low profitability of oil and gas during the period after 2015 would continue, so that they weren’t losing much by denouncing the industry. That belief counts towards the stupidity hypothesis because oil and gas is a hugely cyclical business, earning very high returns during peaks and disappointing returns at other times. Now they have realised what they are foregoing immediately – and probably in the future – the public commitment to disinvestment, etc is weakening rapidly via a whole string of weasel words. I am pretty sure that the executives of oil and gas companies will be extremely cynical about and wary of such fund managers in future. The hostility to and reluctance of companies to do anything in response to President Biden’s urgings is illustrative of that distancing.

    The situation of European oil and gas companies is more complicated. Their senior executives have bought into the NetZero story, so they view oil and gas operations as a cash cow to fund investment in green energy. I suspect that they will not be able to ride those horses for long and that, sooner or later, the internal pressures will lead to the companies being split up.

    • August 28, 2022 3:35 pm

      “I suspect that they will not be able to ride those horses for long”

      Especially as force majeure already appears to be leading to an increase in the publication of climate sceptical publications and commentary that would have not made it past the Green censors twelve months ago, giving the politicians an excuse to roll back their more extreme hyperbolic prognostications!

      Reality is rapidly overtaking the Green Doom Goblin and her acolytes, and the sooner the better!

    • Jules permalink
      August 29, 2022 11:03 am

      Very good post. The energy companies are where attention should be concentrated.

      The WEF and United Nations are side lines – they issue all sorts of directives but their powers are limited, you won’t see them in charge of the US army any time soon.

    • John Brown permalink
      August 29, 2022 9:34 pm

      I believe the reason why European oil and gas companies have bought into the Net Zero story, such as funding wind farms, is because it gives them a higher ESG score/rating and thus able to still source capital.

      • JapanT permalink
        August 30, 2022 1:19 am

        It is belief that the ESG scoring system is behind much of the wokism we see in large companies.

      • JapanT permalink
        August 30, 2022 3:30 am

        Sorry, that should read, “It is MY opinion that…

  18. David permalink
    August 28, 2022 10:26 am

    Why do we have a war every twenty years and why did the US spend twenty million dollars on NOT going to the moon in 1969?

  19. David permalink
    August 28, 2022 10:33 am

    Sorry that should have been “billion”

    • MrGrimNasty permalink
      August 28, 2022 11:17 am

      We can do without references to faked moon landings thanks. Anyone who believes it didn’t really happen has no appreciation of science or of how to evaluate freely available indisputable evidence.

    • Martin Brumby permalink
      August 28, 2022 11:18 am

      Another nutter.

      Any moment now, the nitwits who will telly you that 9/11 was a demolition job by CIA & Mossad.

      What is happening today right now is that people are posting lunatic conspiracy theories for which there is 0.0 evidence, in order to portray this as a nutters’ site.

      Watch for it in the MSM.

      I’m not really in favour of shutting people up, (even nutters) but Paul does need to be careful what he allows.

    • August 28, 2022 3:37 pm

      And another conspiracy troll slithers out from under its noisome bridge…

  20. August 28, 2022 10:42 am

    Gordon Hughes is right, the fact we are friends of course doesn’t influence me… the roots of all the current problems have been slowing emerging for some time, and in my view for the usual reasons — reluctance to admit errors, group think, reluctance to challenge conventional wisdom.

    Much of what has gone wrong can be traced back to the the QE programme, which in turn emerged because of incompetency in managing monetary deregulation of the banks and building societies. QE could not be turned off during the decade following the 2008 crash, and then became vastly inflated during the calamitous response to the pandemic with economic shut down.

    Gordon has largely identified the causes of the current energy crisi, it doesn’t need repeating. we have sat through interminable wind applications listening to the endless spiel about the “need “ for renewables. It still goes on. In those cases though it is clearly “snouts in troughs” as Paul regularly points out with the current ever rising subsidies. But of course if you point to this there are tirades about one’s motivations and “errors of thinking”.

    So in my view forget conspiracies. Just remember the usual human ability to get things wrong, fail to accept that, and being part of a group that thinks just the same. But how any politician can be expected to sort this out starting from here….

  21. Nordisch geo-climber permalink
    August 28, 2022 11:25 am

    WHY? One of our eminent commentators on here often suggests plain stupidity rather than malevolence.
    However, most of my thinking friends seriously do believe they, the bond-villains, do have a plan to strip everyone’s assets, kill people or reduce the population, leave them subjugated, no freedoms, no democracy, owning nothing.

    This kind of conspiracy mindset has been ridiculed by the entitled, liberal, privileged left, but in the past few years, almost every so-called “conspiracy theory” has been proved to be correct, esp. regarding Trump, Ukraine, “climate crisis”, Brexit, covid hysteria, lockdown hysteria, mask hysteria and vax hysteria.

    But maybe the reason why is just stupidity – lack of understanding of science, engineering, physics, geology, oceanography, economics?

    • H Davis permalink
      August 29, 2022 8:18 pm

      I think self interest is at work here also. Once a mania gets going some individuals will seek to benefit from it regardless of the merits of the mania.

      Take Blackrock; they see ordinary folks without a way to signal their virtue as celebrities do, for instance, when they buy carbon offsets for their private plane travel. What can the ordinary citizen do to save the planet (without costing very much).

      Blackrock has the answer – ESG funds. Whether such funds are in fact meritorious regarding ESG is immaterial. Blackrock has assured their investors that outside “experts” have evaluated their ESG credentials and pronounced them holy. So the little guy can absolve himself of climate sin by buying these funds. They may even outperform for a while as more and more gullible little guys pile in. But eventually the truth (whatever it is) will out and the funds’ performance will be measured against some objective benchmark and the little guy will probably be found to have been taken again.

      Whole industries can be created without any thought of the merits of the climate change or sustainability question. Merely taking advantage of opportunities presented by this hysteria is not irrational or evil.

      In my example Blackrock has found a way to make some extra money. In the process several new companies (ESG ratings agencies) have been created. I’m sure the government regulating agencies are adding staff as we speak. There is even a counter fund family (Strive) to cater to the anti-ESG folks. Which of these is going to stand up and say the whole sustainability frenzy is a hoax and kill the golden goose that provides them a living? They will ride this until it’s been bled dry and then move on.

  22. 186no permalink
    August 28, 2022 11:44 am

    C O N T R O L. The advent of the web has emboldened some people that their pet theories are not “unique” and so gather a “momentum”…AWG/CC/CO2…..
    Pick your weapon; in pre Web days, such opinions took longer to disseminate, and relied on word of mouth, print and public meetings.

    ESG as it is now is a thorough going scam; I have knowledge of a UK DFM used by many “advisers” where their ESG element contains – US $ denominated – shareholdings in all CV19 jab manufacturers – never mind that the “G” has been ignored with respect to the massive fines incurred by, eg, Pfizer over many years. I asked how they filter businesses that have been convicted of criminal offences relating to drug trials, drug manufacture, and harms caused as a result; answer – “we don’t”. The main purveyors of ETF derived ESG portfolios are now using their “power” to force/coerce businesses their ideological bent – highly dubious, possibly illegal, and inimical to investors with fiduciary responsibilities. To threaten legitimate businesses like this opens a barn door ro legal challenge, as well as to limit access to capital markets for wholly non business reasons. As usual, the unsuspecting public, private shareholders, pensioners and Trust beneficiaries will pay the price until the gullible wake up..

  23. Max Beran permalink
    August 28, 2022 12:04 pm

    Money men, same as actors in this business from other areas, have an overwhelming urge to be well thought of (in posh speak, be numbered among the biens pensants). They can show they have a heart beating within their breast and it’s not just money that motivates. They are assured of a good round of applause at the end of their planet-loving presentation with a welcome to every right-thinking (woke) venue. And who knows, a promotion to a job with greater autonomy and travel opportunities. Also it’s cheap in the sense you don’t have to do more than spout your platitudes; no need to actually do anything.

  24. Gamecock permalink
    August 28, 2022 12:08 pm

    I don’t believe Klaus Schwab is motivated by money. I believe he wants to kill 7,000,000,000 people. I believe Macron, Trudeau, and Newsom are interviewing for jobs, by showing willingness to kill vast numbers of people.

    • Gamecock permalink
      August 28, 2022 12:11 pm

      The problem with the ‘Why?’ is that abnormal psychology is impossible for us to decipher. We simply cannot understand the mass murderer.

    • davidrussell22 permalink
      August 28, 2022 12:21 pm

      That’s quit a harsh condemnation. He doesn’t want them murdered. He wants them to commit suicide, which they are doing voting in leftists.

  25. davidrussell22 permalink
    August 28, 2022 12:18 pm

    It is my personal belief and hope they are trying to destroy the fossil fuel industry in order to make me rich. I have almost all my stock portfolio in North American oil and gas companies and have doubled my money in just under 2 years. I expect another double over the next 2 years.

    Keep up the good work, boys!!!

    • It doesn't add up... permalink
      August 28, 2022 1:59 pm

      I note they seem to be having difficulties finding candidates to take over from Deben at the CCC. The applications deadline has been extended. Perhaps not so many are willing to be pilloried in the public stocks now that we begin to see the consequences of net zero.

      https://publicappointments.cabinetoffice.gov.uk/appointment/urn503-climate-change-committee-chair/

      • bobn permalink
        August 28, 2022 11:15 pm

        Didnt know he was leaving or I might have applied. Maybe we all should?
        I nominate Paul Homewood for Chair of CCC. After a few months he can then close the whole corrupt thing down.

      • August 29, 2022 1:05 pm

        They should just close it down and have done with it. They are a useless waste of space, and extremely dangerous with it.

  26. devonblueboy permalink
    August 28, 2022 12:26 pm

    The Goldmann Sachs aphorism that “He who has the gold makes the rules” seems to be apt. Those who have power are motivated by having more of it, no matter how wrong headed they are. If things go wrong they are protected by their wealth. A classic example of not letting people make decisions if they have no skin in the game.

  27. eastdevonoldie permalink
    August 28, 2022 12:41 pm

    The UN, WEF, Gates, Soros………. are one and the same…… all following the same script.

    The United Nations has been one of the organizations leading the manmade climate change push. The paragraph below, from the February 10, 2015 Investor’s Business Daily article “U.N. Official Reveals Real Reason Behind Warming Scare” seems to state the goal clearly.
    Christiana Figueres, executive secretary of the U.N.’s Framework Convention on Climate Change, admitted that the goal is not to save the world from ecological calamity but to destroy capitalism.
    “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years, since the Industrial Revolution,” she said.

  28. TerryT permalink
    August 28, 2022 12:42 pm

    Isn’t that why Boris suddenly became a looney greeny?

  29. John Wilson permalink
    August 28, 2022 1:46 pm

    As I understand it they are simply following the agenda of the WEF, which is run by academics who have no idea of how the world actually works, and the crucial role played by fossil fuels.
    Here in Canada there is a debate starting over the whole ESG agenda , and it’s detrimental effects on public pension plan results. It is becoming clear that nations that have energy security, in the form of abundant natural resources and critical minerals will be the winners in a world of energy poverty, caused by insane environmental policies of governments
    The pitchforks will eventually arrive

  30. Peter S permalink
    August 28, 2022 1:47 pm

    Here is my attempt to answer my own question. We have all seen examples of ways in which the money men exploit green fashions that they, themselves, create.
    For example, investing in alternatives to meat products then convincing government that animal emissions of methane are harming the planet.
    Another one is buying up forestry in north America then convincing government that biomass electricity generation is carbon neutral.
    I can only speculate that the money men want to completely demonise certain market sectors prior to bringing out “ethical” investment opportunities that are “planet safe”, sustainable, and, naturally, very expensive.

  31. Andre Blackburn permalink
    August 28, 2022 2:05 pm

    Blackrock is a leading proponent of ESG putting pressure on the companies in which it invests its clients’ money to get on board the net zero band wagon.

    Its motives are somewhat opaque as it does not seem to adopt the same approach in pressurising its own fund managers. It runs a fund “Blackrock Energy and Resources Income Trust” (BERI) in which the largest investment is Glencore – one of the world’s most significant coal miners which has successfully resisted pressure to tread the ESG path. As a result Glencore recently declared record profits largely due to the near-tripling of the price of coal in 2022 along with the activities of its traders in the commodities markets. If Blackrock was consistent it would instruct its fund managers to dump their Glencore investments – but it has not. Blackrock is caught on the horns of a dilemma; if it dumps Glencore its performance would deteriorate and investors would pull funds out. Not good for profits.

    As someone earlier said “follow the money”

    Blackrock (or at least its BERI fund managers) does understand the lack of hard rationale behind the ESG nonsense. Somewhat surprisingly its recent report (which tries very hard to avoid stating the major part that coal has played in Glencore’s profits) contains a comparison between the resources needed for a 100MW gas fired turbine and the wind turbines required for the equivalent energy output. If you follow the link have a look at page 16 – it’s a startling comparison. In fact if you factor in the logic that the turbine operates pretty much 24/7 and the windmills significantly less and that the turbine can produce energy on demand and when it’s actually needed unlike the turbines then the disparity is a lot greater. Have a look at this; it’s fascinating.

    Click to access blackrock-energy-and-resources-income-trust-plc-interim-report.pdf

  32. afbainbridge permalink
    August 28, 2022 2:11 pm

    This is a great question. In my view, apart from a vague idea of becoming some kind of ‘Master Race’ like the Eloi over the Morlocks, I do not think there ever was a Grand Plan. These people cannot see further into a millstone than the man or woman in the street. They act by herd instinct, misled by their Harvard MBAs into adopting a posture which blinds them to reality. Carney was a complete waste of space at the Bank of England, and his attitudes are now woven into the carpets. We will recover from these huge errors in due time, but millions will die and we shall all be poorer. Meanwhile I listen out for at least one politician, slightly braver than the rest, to apologise for what they have done.

    Anthony F Bainbridge

  33. Andre Blackburn permalink
    August 28, 2022 2:18 pm

    Blackrock is a leading proponent of ESG putting pressure on the companies in which it invests its clients’ money to get on board the net zero band wagon.

    Its motives are somewhat opaque as it does not seem to adopt the same approach in pressurising its own fund managers. It runs a fund “Blackrock Energy and Resources Income Trust” (BERI) in which the largest investment is Glencore – one of the world’s most significant coal miners which has strongly resisted pressure to tread the ESG path. As a result Glencore recently declared record profits largely due to the near-tripling of the price of coal in 2022 along with the activities of its traders in the commodities markets. If Blacrock was consistent it would instruct its fund managers to dump their Glencore investments – but it has not. Blackrock is caught on the horns of a dilemma; if it dumps Glencore its performance would deteriorate and investors would pull funds out. Not good for profits.

    As someone earlier said “follow the money”

    Blackrock (or at least its BERI fund managers) does understand the lack of hard rationale behind the ESG nonsense. Somewhat surprisingly its recent report (which tries very hard to avoid stating the major part that coal has played in Glencore’s profits) contains a comparison between the resources needed for a 100MW gas fired turbine and the wind turbines required for the equivalent energy output. If you follow the link have a look at page 16 – it’s a startling comparison. In fact if you factor in the logic that the turbine operates pretty much 24/7 – the windmills considerably less and the gas turbine can produce energy on demand unlike the wind turbines then the disparity is a lot greater. Have a look; it’s clearly demonstrates the pile of sand on which the whole net zero edifice is built.

    Click to access blackrock-energy-and-resources-income-trust-plc-interim-report.pdf

    • It doesn't add up... permalink
      August 28, 2022 10:37 pm

      Glencore is the world’s second biggest miner of cobalt. China being the dominant force.

  34. August 28, 2022 2:41 pm

    Is it sheer greed? Demonise the one fuel source they KNOW works such that the already invested infrastructure & systems to deliver it becomes most worthless, then snap it up and corner/control the market for themselves – huge profits guaranteed. Human psychology is often very straight forward. As the police say, notice, means, opportunity. Motive = greed; means = climate; opportunity = they control the money. But there’s also the insatiable need to be in control, an emotion that infects so completely that nothing can break them out of it. They build up the belief of their infallibility to the point where nothing can persuade them that they are wrong, no matter how much contrary evidence there is.

  35. JapanT permalink
    August 28, 2022 3:12 pm

    While I too believe this is an important question, I also think that it is far more important that all every effort is taken to remove theses people from positions from which they can do harm.

  36. David Wojick permalink
    August 28, 2022 3:14 pm

    It’s a gold rush. The huge cost of the mandated energy transition translates to huge investment opportunities so the investment community loves it. O&G are just in the way. Storage will be solved by innovation making the opportunities that much bigger.

    More broadly, restructuring society is an intoxicating fantasy (and always has been).

  37. August 28, 2022 3:23 pm

    Yes, I puzzle over this; particularly as their actions seem to be consistent with the Communist Party Line as currently practiced by the UN and its acolytes such as the UNFCC, IPCC ET AL. leading to the destruction of the very capitalist System they depend upon.
    However I suspect that somewhere along the line is the tacit agreement or belief that they will wind up as key players in the Communist Party. (After all Davos has now nuzzled up to the UN, has it not?)
    But beneath it all is the fundamental GREED and search for the Global Levers of Power, fed by the many corruption opportunities available these days.

    However, IMO, They forget that Communist Mantra that : “The End Justifies the Means”; so they will eventually find that they get dumped, once their usefulness has deteriorated.

    On a ‘Wokefeelings’ basis, whatever that means: When very young there was talk of: “The Yellow Peril”, which referred to China. Somehow now I feel that we should take well note of that these days.

  38. Malcolm permalink
    August 28, 2022 4:07 pm

    The answer is simple, complicated and unbelievable. It goes like this:-

    They are all devotees of Ayn Rand and her pseudo religion Objectivism. At this point pool her up on Google with Objectivism. She wrote several dangerous books of which one is the Bible to this lot. It is very thick, a challenge to read having no significant literary merit and a lot of serious scientific errors. It is called “Atlas Shrugged”. Its core philosophy is “Take no help from anyone, give no help and tale what you can without caring”. The story, if you can track it, is that a group of the cleverest, richest and most powerful Americans take control of a socialist America, shut down all its power sources then retreat into a secret valley in the Rockies where they will never be found. There they live as neo-Romantics in a pseudo Rousseau paradise.

    So that is progressively what the Davos crew are more subtly doing as they follow Rand’s Objectivist vision.

    Unbelievable and imaginative conspiracy nonsense? That was what I thought until I read “Atlas Shrugged” and who recommended it. Look in Wiki – with a very firmly sceptical eye – then think about your question Peter S.

    Got a better explanation?

    • Malcolm permalink
      August 28, 2022 4:16 pm

      Sorry about the typos – sent by accident.
      First one: para 2 line 3 should be “look” it up.
      Second on: para 2 line 10 should read “take” what you …

      Reading the other replies above you might see the same basic theme. But it all goes back to Ayn Rand

    • August 28, 2022 4:36 pm

      Yep.

      Try the “United Nations Replacement Migration Program”.

      • Stuart Hamish permalink
        August 30, 2022 12:10 pm

        “She wrote several dangerous books ” ? Nice little superficial repartee …It doesnt go “all the way back to Ayn Rand …You are just indulging yourselves

    • bobn permalink
      August 28, 2022 11:25 pm

      Its not Ayn Rand, Its Karl Marx that Davos follow. Klaus and Co are ardent socialists who will lead us Plebs and dictate to us for our own good. Pure evil socialism. Ayn Rand hated socialism. She was advocating abandoning society and living independantly. Which is of course unachievable Walt Whitman style romanticism, cause the socialists will never leave you alone.

  39. Harald G. Martin permalink
    August 28, 2022 5:34 pm

    The greed and evil of the powers behind the powers of governments seems to know no bounds. The world was always a very big place and people in various countries and localities had control over themselves. With the advent of hundreds of new technologies, the world is now a very small place allowing for a few to control the many (because the many are 1) unaware of the existence of these powers 2) people are unwilling to believe that this group can exercise such power 3) Far too many prefer to accept what is happening and really will be happy to be slaves….

  40. Peter S permalink
    August 28, 2022 7:34 pm

    The UN has its redistribution of wealth policy, started by Maurice Strong, admitted by Ottmar Edenhofer and confirmed by Christiana Figueres. Climate change provides the vehicle. Climate alarmism provides the alleged damage to the developing countries, the wealthy countries caused the warming and extreme weather and reparations must be paid, aka climate justice. The COP meetings show this playing out.
    In recent years, the UN has indulged in completely ridiculous alarmist claims so it has abandoned any pretence of serious science. It has all the cards, being backed by WMO, IPCC, and WCRP (CMIP climate models coordination.) so they seem to get away with it.
    With 145 countries signed up to the UN climate plans, you can see why our scientists keep quiet. Our government has signed up to the IPCC state of the climate and while the funding keeps flowing, why would they jeopardise their jobs by objecting? But here is the problem, the wealth redistribution project depends on on-going alarmism, ratcheted up each year with worse climate projections from the IPCC. The emission reductions needed are fed into the CCC where they are translated into actions for ministers. So it gets decided that Northern Ireland emissions are too high in the agricultural sector so a million sheep and cattle must go. More needs to be done to conserve energy, so target sash windows. (These are current examples.)
    The UN wealth redistribution project requires an ever worsening crisis, yet many countries, including the UK, bases climate change and energy policy on UN/IPCC claims. But where is the scrutiny of the IPCC science? The CCC does not question the IPCC statements, it simply converts them to actions that ministers can implement.
    The government has subcontracted climate policy to the UN wealth redistribution project. Did you think that Boris dreamt up Net Zero? Look at the UN Climate website. Perhaps Figueres is right, the UN does want to destroy capitalist economies including ours.
    Perhaps the money men of Davos and the multitrillion asset managers see a new world order in the making. When the UN has a greater role in world governance and taxation, they will need the money men on their side.

    • August 28, 2022 10:54 pm

      They appear to have failed to factor China and Russia – especially Putin’s activities – into their calculations.

      The best laid plans…

  41. Jason permalink
    August 28, 2022 7:55 pm

    Could the answer be that they are devout satanists who still think they’ll win?

  42. R A N permalink
    August 28, 2022 11:36 pm

    Making money in the business world can be difficult; however, in the world of renewables, the law says we have to pay them for their projects. So revenues are guaranteed by the arm of the law – a less risky proposition than doing business.

  43. Jock permalink
    August 29, 2022 2:25 am

    I don’t really think black Rock is altruistic. Look at what has occurred. A shortage of gas and oil and coal. Ergo very high prices. Did commodity dealers see this short squeeze coming? Were black Rock “long” commodity fossil fuels? Just wondering.

  44. John Brown permalink
    August 29, 2022 12:39 pm

    These people are after more wealth and power. I recommend watching Ben Pile’s video “Intended consequences: energy price rises & inflation” which features Carney, Bloomberg, Blackrock and other ESG promoters such as Sir Christopher Hohn whose Children’s Investment Fund had Mr. Sunak as a director :

  45. PaulR permalink
    August 29, 2022 1:10 pm

    I dispute your assumption there was or is a “master plan” as you assume. Simply a coterie of scientifically illiterate business leaders and influencers totally in thrall to the global groupthink.

  46. August 29, 2022 5:01 pm

    They want us Europeans to switch to gas which is sourced from US-owned gas fields?

  47. Malcolm permalink
    August 30, 2022 5:52 pm

    Stuart Hamish in his reply to my comments about Ayn Rand seems to know how to block a direct reply. That is a pity given his ad hominem attack on my “indulging” myself rather than addressing the case in hand. How can “reply” be blocked please?

    I had looked forward to a discussion on my proposal but it seems few know about Rand despite “Atlas Shrugged” being a world best seller amongst the very rich. That is why “they” are getting away with abandoning us.

  48. David Woodcock permalink
    August 31, 2022 1:06 pm

    People in charge of huge investment funds are NOT “trying to kill off the oil and gas industries” as is claimed here.
    This isn’t rocket science. Investors demand a return on their capital and if they don’t see a return they move funds into something more viable. Everyone wants their pensions to stay ahead of inflation and to grow in real terms.
    Western Governments devised a plan to back the theory that Mankind is changing global climate systems by using fossil fuels. They have done this because it was clear after 9/11 that something needed to be done to stop funding regimes of hate towards the west. A whole raft of anti-money laundering laws came into affect and suddenly Governments in the west also viewed our overeliance on carbon based fuels from these regions of hate as direct funding for them. Something clearly needed to be done and quickly. The trillions of dollars worth of Government support for alternative energy investments was a way to encourage alternative sources of renewable energy and has meant that it is more viable to invest in these new areas by taking advantage of this huge Government intervention.
    If you really think its about destroying one of the most profitable global industries you need to think again. You also need to rethink if you are one who still believes that the huge Government funding is based on climate science and has nothing to do with Western economic and cultural security.
    Our own energy security and underpins our future economic independence and western social sustainability.

    • Japan T permalink
      August 31, 2022 1:27 pm

      Then why shut down pipelines, offshore drilling and drilling on federal lands in the US? You points are good and valid, but they do not answer for all of what is going on.

      • David Woodcock permalink
        August 31, 2022 4:13 pm

        The politics has changed. Decissions were made two decades ago to change our reliance on fossil fuels from regions of the world which wish to do us harm. This was all planned back then. It just didnt make sense to pay trillions of dollars into the coffers of these regimes. Its why the west has shut down pipelines and stopped buying Russian carbon based fuels because it directly funds corrupt and dangerous regimes which want to harm the west. It has absolutely nothing to do with smashing up the oil and gas industry. This might be what extreme ideological groups wish for, however, it’s not how sensible democratic western governments work. You shouldn’t confuse the two.

      • JapanT permalink
        August 31, 2022 4:23 pm

        None of that answers my questions on why the US gov has stopped the construction of a domestic (mostly) pipeline and stopped further drilling on federal land WITHIN the US and just offshore the US.

      • August 31, 2022 4:51 pm

        “Decissions were made two decades ago to change our reliance on fossil fuels from regions of the world which wish to do us harm.”

        So instead “Decissions” [sic] have been made to make us reliant on much more unreliable, expensive and restricted supplies of assorted rare minerals the extraction of which is far more environmentally destructive and inhumane – Congolese child miners mean anything to you? – from Communist China, who last time I checked was at least as likely to do us harm as any of the oil-producing nations… I see.

        Do you believe this to be a good thing?

    • August 31, 2022 2:13 pm

      This would indicate otherwise:

      At a news conference last week in Brussels, Christiana Figueres, executive secretary of U.N.’s Framework Convention on Climate Change, admitted that the goal of environmental activists is not to save the world from ecological calamity but to destroy capitalism.

      “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years, since the Industrial Revolution,” she said.

      Referring to a new international treaty environmentalists hope will be adopted at the Paris climate change conference later this year, she added: “This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model for the first time in human history.”

      http://www.investors.com/politics/editorials/climate-change-scare-tool-to-destroy-capitalism/

      • David Woodcock permalink
        August 31, 2022 3:57 pm

        No it doesnt indicate that wealthy individuals and fund managers are trying to kill off the oil and gas industry. Wealth managers try and enhance their returns, they would never destroy the industries they have investments in…it’s ridiculous to suggest it.
        Christiana Figueres, executive secretary of U.N.’s Framework Convention on Climate Change says “Environmentalists” are trying to do this.
        They are quite different organisations and people.
        And No, the Government did not destroy North Sea Oil, production has declined over the last two decades due to reduced investment in the infrastructure for the resons I outlined. As for Gas, it is the same, you have to understand that the politics has changed and the Government has incentivised the renewable energy industry over fossil fuels.

    • August 31, 2022 2:20 pm

      Further, you omit that the UK was self-sufficient in oil and gas, as for a short time was the USA – until Government policy destroyed that capability, so your explanation that we were entirely dependent on “rogue states” for our energy is questionable at best.

      You omit also that practically the whole of the “renewables” industry is entirely dependent on one of – if not THE – most odious regime of all, the PRC, and that “peak rare earth” is coming a great deal sooner than the much-vaunted “Peak Oil”.

      • David Woodcock permalink
        August 31, 2022 8:47 pm

        The Government has not destroyed the North Sea Oil industry as you claim, production has declined over the last two decades due to reduced investment in the infrastructure for the resons I outlined. As for Gas, it is the same.
        You have to understand that Government discourse has changed after Governments agreed to incentivise the renewable energy sector over fossil fuels to reduce our dependence on regimes which openly threaten the western democratic way of life. The Russian gas and oil imports have had to be cut for the same reason. This shouldn’t be a surprise to anyone, it certainly was flagged up by western Governments as likely decades ago, thus the move to back Anthropogenic climate change theory as a vehicle to use to make that change more palatable.

      • August 31, 2022 9:10 pm

        “You have to understand that Government discourse has changed after Governments agreed to incentivise the renewable energy sector over fossil fuels to reduce our dependence on regimes which openly threaten the western democratic way of life.”

        So you consider that China openly threatens the Western democratic way of life less than Saudi Arabia, do you?

        Interesting…

      • David Woodcock permalink
        August 31, 2022 9:18 pm

        “So you consider that China openly threatens the Western democratic way of life less than Saudi Arabia, do you?”
        No I do not, I havent mentioned China, you did.
        China is not an exporter of oil and gas so I dont understand the relevance.

      • August 31, 2022 9:40 pm

        My relevance is that we have exchanged our dependence on oil and gas for dependence on inter aliawind turbines, solar panels and storage technology that is at least 80% dependent on Chinese products that are constructed predominantly using energy from coal fired power stations and minerals the source of which they are rapidly acquiring a monopoly, and that are acquired and processed by extremely environmentally questionable methodologies.

        https://2017-2021.state.gov/chinas-environmental-abuses/index.html#:~:text=The%20People's%20Republic%20of%20China,trafficked%20wildlife%20and%20timber%20products.

        https://e360.yale.edu/features/china-wrestles-with-the-toxic-aftermath-of-rare-earth-mining

        Click to access Shinn-final.pdf

        These issues appear to have entirely escaped your attention.

      • David Woodcock permalink
        September 1, 2022 10:07 am

        OK, but none of this negates my argument that the thread headline put forward that wealthy individuals and wealth management companies are deliberately destroying the oil and gas industries is simply not true.
        The Oil and Gas industries have been dealt a blow by western political discourse decided more than two decades ago. The reason China is manufacturing a larger share of our goods is simply because we have traded our thermodynamic yield advantage from carbon based fuel energy in the western economies for reduced price goods from the other side of the world because we effectively put up the cost of our manufacturing here in the west by transferring our energy generation to processes which are 400% less efficient. Therefore, the only way we can maintain our standard of living is to abstract yield from transferring our industry to other regions of the world who do still use the thermodynamic advantage.
        As I say, this doesn’t negate my point because it is all well understood and decided decades ago by our political elite to reduce our economic and social risk in the long run.
        I still dont understand what you are arguing against because all of this has been clear to see in the news? The only thing that has been covered up is the reason for making this change to our own renewable energy rather than fossil fuels from politically untrustworthy regions of the world. But this is wholy understandable because how can western governments speak the truth when they are trying to promote global free trade to the same regimes which they depend on for carbon fuel? Its pure hypocrisy so they have avoided it.

  49. September 1, 2022 2:26 pm

    “how can western governments speak the truth when they are trying to promote global free trade to the same regimes which they depend on for carbon fuel?”

    So you prefer promoting global free trade with China and becoming dependent on China for inter alia our electricity generation equipment such as wind turbines, solar panels and batteries instead?

    Especially as it is proven that both the UK and USA are entirely capable of being – indeed have been – self-sufficient in fossil fuels, should the investment be available?

    How can western governments speak the truth when they are trying to promote global free trade with China, do you think?

    https://www.telegraph.co.uk/world-news/2022/08/31/un-report-china-may-have-committed-crimes-against-humanity-xinjiang/

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