Economy
The people will reject the globalist ‘climate’ agenda
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From the Fraser Institute
” representatives of governments worldwide endorsed policies that will, if implemented, do extraordinary harm to their own people. Where governments have made even small attempts to take these radical steps, the public has revolted. This calls into question whom the COP28 delegates “represent.” “
It’s tempting to dismiss the outcome of COP28, the recent United Nations climate change conference in the United Arab Emirates, as mere verbiage, such as the “historic” UAE Consensus about transitioning away from fossil fuels. After all, this is the 28th such conference and the previous ones all pretty much came to nothing. On a chart showing the steady rise in global total CO2 emissions since 1950 you cannot spot when the 1997 Kyoto Protocol entered into force (2002), with its supposedly historic language binding developed countries to cap their CO2 emissions at five per cent below 1990 levels by 2012. Likewise, the 2015 Paris Agreement contained historic language binding countries to further deep emission reductions, yet the COP28 declaration begins (paragraph I.2) with an admission that the parties are not complying.
Nonetheless we should not overlook the real meaning of the UAE Consensus. COP agreements used to focus on one thing—targets for reducing greenhouse gases. The UAE Consensus is very different. Across its 196 paragraphs and 10 supplementary declarations it’s a manifesto of global central planning. Some 90,000 government functionaries aspire, in their own words, to oversee and micromanage agriculture, finance, energy, manufacturing, gender relations, health care, air conditioning, building design, and countless other economic and social decisions. It’s supposedly in the name of fighting climate change, but that’s just the pretext. Take it away and they’d appeal to something else.
After all, the climate change issue doesn’t necessitate these plans. Economists have been studying climate change for many decades and have never considered it grounds to phase out fossil fuels, micromanage society, etc. Mainstream scientific findings, coupled with mainstream economic analysis, prescribes moderate emission-pricing policies that rely much more on adaptation than mitigation.
The fact that the UAE Consensus is currently non-binding is beside the point. What matters is what the COP28 delegates said they want to achieve. Two facts stand out—the final consensus document announced plans that would cause enormous economic harm if implemented, and it was unanimously approved by everyone in the room.
The first point is best illustrated by the language around eliminating fossil fuels. Climate policy is supposed to be about optimally reducing greenhouse gas (GHG) emissions. As technology develops to decouple emissions from fuel use, there may eventually be no need to reduce the latter, but activist delegates insisted on the language anyway, making it an end in itself. Fossil fuels are essential for our economic standard of living, and 30 years of economic analysis has consistently shown that despite GHG emissions, phasing them out would do far more harm than good to humanity. Yet the Consensus statement ignored that, even while claiming to be guided by “the science.”
The second point refers to the fact that representatives of governments worldwide endorsed policies that will, if implemented, do extraordinary harm to their own people. Where governments have made even small attempts to take these radical steps, the public has revolted. This calls into question whom the COP28 delegates “represent.” Other than a few elected officials, we didn’t vote for any of them. And even if some heads of state go to a COP meeting intending to oppose the overall agenda, they would not be able to stop it and would be browbeaten into signing the final package.
The UAE Consensus is the latest signal that the real fault line in contemporary society is not right versus left, it’s the people versus (for lack of a better word) the globalists. A decade ago this term was only heard on the conspiracy fringe but has since migrated towards the mainstream as the most apt descriptor of an enormous and influential transnational permanent bureaucracy, which aspires to run everything, even to the public’s detriment, while insulating themselves from democratic limits.
A hallmark of globalists is the way they exempt themselves from rules they want to impose on everyone else. COP28 and Davos meetings perfectly illustrate this—thousands of delegates flying in, many on private jets, to be wined and dined while telling everyone else to learn to do without.
In the cases of both COVID-19 and climate change, the same elite has proven itself to be adept, not at using science to support good decision-making, but at invoking “the science” as a talisman to justify everything they do including censoring public debate. Complex and uncertain matters get reduced to dogmatic slogans by technocrats who ensure political leaders are force fed a narrow one-sided information stream. Experts outside the process are accorded standing based solely on their obeisance to the preferred narrative, not their knowledge or qualifications. Critics are attacked as purveyors of “misinformation” and “disinformation,” and so the existence of opposition to government plans becomes proof of the need to suppress free speech.
But eventually the people get the last word. I am struck, in this context, that despite nonstop fearmongering about an alleged climate crisis, the public tolerates climate policy only insofar as it doesn’t cost anything.
The climate movement might think that by embedding itself in the globalist elite it can accelerate policy adoption without needing to win elections. I think the opposite is happening. The globalists have coopted the climate issue to sell a grotesque central planning agenda that the public has repeatedly rejected. If the UAE Consensus is the future of climate policy, its failure is guaranteed.
Author:
It’s tempting to dismiss the outcome of COP28, the recent United Nations climate change conference in the United Arab Emirates, as mere verbiage, such as the “historic” UAE Consensus about transitioning away from fossil fuels. After all, this is the 28th such conference and the previous ones all pretty much came to nothing. On a chart showing the steady rise in global total CO2 emissions since 1950 you cannot spot when the 1997 Kyoto Protocol entered into force (2002), with its supposedly historic language binding developed countries to cap their CO2 emissions at five per cent below 1990 levels by 2012. Likewise, the 2015 Paris Agreement contained historic language binding countries to further deep emission reductions, yet the COP28 declaration begins (paragraph I.2) with an admission that the parties are not complying.
Nonetheless we should not overlook the real meaning of the UAE Consensus. COP agreements used to focus on one thing—targets for reducing greenhouse gases. The UAE Consensus is very different. Across its 196 paragraphs and 10 supplementary declarations it’s a manifesto of global central planning. Some 90,000 government functionaries aspire, in their own words, to oversee and micromanage agriculture, finance, energy, manufacturing, gender relations, health care, air conditioning, building design, and countless other economic and social decisions. It’s supposedly in the name of fighting climate change, but that’s just the pretext. Take it away and they’d appeal to something else.
After all, the climate change issue doesn’t necessitate these plans. Economists have been studying climate change for many decades and have never considered it grounds to phase out fossil fuels, micromanage society, etc. Mainstream scientific findings, coupled with mainstream economic analysis, prescribes moderate emission-pricing policies that rely much more on adaptation than mitigation.
The fact that the UAE Consensus is currently non-binding is beside the point. What matters is what the COP28 delegates said they want to achieve. Two facts stand out—the final consensus document announced plans that would cause enormous economic harm if implemented, and it was unanimously approved by everyone in the room.
The first point is best illustrated by the language around eliminating fossil fuels. Climate policy is supposed to be about optimally reducing greenhouse gas (GHG) emissions. As technology develops to decouple emissions from fuel use, there may eventually be no need to reduce the latter, but activist delegates insisted on the language anyway, making it an end in itself. Fossil fuels are essential for our economic standard of living, and 30 years of economic analysis has consistently shown that despite GHG emissions, phasing them out would do far more harm than good to humanity. Yet the Consensus statement ignored that, even while claiming to be guided by “the science.”
The second point refers to the fact that representatives of governments worldwide endorsed policies that will, if implemented, do extraordinary harm to their own people. Where governments have made even small attempts to take these radical steps, the public has revolted. This calls into question whom the COP28 delegates “represent.” Other than a few elected officials, we didn’t vote for any of them. And even if some heads of state go to a COP meeting intending to oppose the overall agenda, they would not be able to stop it and would be browbeaten into signing the final package.
The UAE Consensus is the latest signal that the real fault line in contemporary society is not right versus left, it’s the people versus (for lack of a better word) the globalists. A decade ago this term was only heard on the conspiracy fringe but has since migrated towards the mainstream as the most apt descriptor of an enormous and influential transnational permanent bureaucracy, which aspires to run everything, even to the public’s detriment, while insulating themselves from democratic limits.
A hallmark of globalists is the way they exempt themselves from rules they want to impose on everyone else. COP28 and Davos meetings perfectly illustrate this—thousands of delegates flying in, many on private jets, to be wined and dined while telling everyone else to learn to do without.
In the cases of both COVID-19 and climate change, the same elite has proven itself to be adept, not at using science to support good decision-making, but at invoking “the science” as a talisman to justify everything they do including censoring public debate. Complex and uncertain matters get reduced to dogmatic slogans by technocrats who ensure political leaders are force fed a narrow one-sided information stream. Experts outside the process are accorded standing based solely on their obeisance to the preferred narrative, not their knowledge or qualifications. Critics are attacked as purveyors of “misinformation” and “disinformation,” and so the existence of opposition to government plans becomes proof of the need to suppress free speech.
But eventually the people get the last word. I am struck, in this context, that despite nonstop fearmongering about an alleged climate crisis, the public tolerates climate policy only insofar as it doesn’t cost anything.
The climate movement might think that by embedding itself in the globalist elite it can accelerate policy adoption without needing to win elections. I think the opposite is happening. The globalists have coopted the climate issue to sell a grotesque central planning agenda that the public has repeatedly rejected. If the UAE Consensus is the future of climate policy, its failure is guaranteed.
Author:
Business
Worst kept secret—red tape strangling Canada’s economy
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From the Fraser Institute
By Matthew Lau
In the past nine years, business investment in Canada has fallen while increasing more than 30 per cent in the U.S. on a real per-person basis. Workers in Canada now receive barely half as much new capital per worker than in the U.S.
According to a new Statistics Canada report, government regulation has grown over the years and it’s hurting Canada’s economy. The report, which uses a regulatory burden measure devised by KPMG and Transport Canada, shows government regulatory requirements increased 2.1 per cent annually from 2006 to 2021, with the effect of reducing the business sector’s GDP, employment, labour productivity and investment.
Specifically, the growth in regulation over these years cut business-sector investment by an estimated nine per cent and “reduced business start-ups and business dynamism,” cut GDP in the business sector by 1.7 percentage points, cut employment growth by 1.3 percentage points, and labour productivity by 0.4 percentage points.
While the report only covered regulatory growth through 2021, in the past four years an avalanche of new regulations has made the already existing problem of overregulation worse.
The Trudeau government in particular has intensified its regulatory assault on the extraction sector with a greenhouse gas emissions cap, new fuel regulations and new methane emissions regulations. In the last few years, federal diktats and expansions of bureaucratic control have swept the auto industry, child care, supermarkets and many other sectors.
Again, the negative results are evident. Over the past nine years, Canada’s cumulative real growth in per-person GDP (an indicator of incomes and living standards) has been a paltry 1.7 per cent and trending downward, compared to 18.6 per cent and trending upward in the United States. Put differently, if the Canadian economy had tracked with the U.S. economy over the past nine years, average incomes in Canada would be much higher today.
Also in the past nine years, business investment in Canada has fallen while increasing more than 30 per cent in the U.S. on a real per-person basis. Workers in Canada now receive barely half as much new capital per worker than in the U.S., and only about two-thirds as much new capital (on average) as workers in other developed countries.
Consequently, Canada is mired in an economic growth crisis—a fact that even the Trudeau government does not deny. “We have more work to do,” said Anita Anand, then-president of the Treasury Board, last August, “to examine the causes of low productivity levels.” The Statistics Canada report, if nothing else, confirms what economists and the business community already knew—the regulatory burden is much of the problem.
Of course, regulation is not the only factor hurting Canada’s economy. Higher federal carbon taxes, higher payroll taxes and higher top marginal income tax rates are also weakening Canada’s productivity, GDP, business investment and entrepreneurship.
Finally, while the Statistics Canada report shows significant economic costs of regulation, the authors note that their estimate of the effect of regulatory accumulation on GDP is “much smaller” than the effect estimated in an American study published several years ago in the Review of Economic Dynamics. In other words, the negative effects of regulation in Canada may be even higher than StatsCan suggests.
Whether Statistics Canada has underestimated the economic costs of regulation or not, one thing is clear: reducing regulation and reversing the policy course of recent years would help get Canada out of its current economic rut. The country is effectively in a recession even if, as a result of rapid population growth fuelled by record levels of immigration, the GDP statistics do not meet the technical definition of a recession.
With dismal GDP and business investment numbers, a turnaround—both in policy and outcomes—can’t come quickly enough for Canadians.
Business
‘Out and out fraud’: DOGE questions $2 billion Biden grant to left-wing ‘green energy’ nonprofit`
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From LifeSiteNews
The EPA under the Biden administration awarded $2 billion to a ‘green energy’ group that appears to have been little more than a means to enrich left-wing activists.
The U.S. Environmental Protection Agency (EPA) under the Biden administration awarded $2 billion to a “green energy” nonprofit that appears to have been little more than a means to enrich left-wing activists such as former Democratic candidate Stacey Abrams.
Founded in 2023 as a coalition of nonprofits, corporations, unions, municipalities, and other groups, Power Forward Communities (PFC) bills itself as “the first national program to finance home energy efficiency upgrades at scale, saving Americans thousands of dollars on their utility bills every year.” It says it “will help homeowners, developers, and renters swap outdated, inefficient appliances with more efficient and modernized options, saving money for years ahead and ensuring our kids can grow up with cleaner, pollutant-free air.”
The organization’s website boasts more than 300 member organizations across 46 states but does not detail actual activities. It does have job postings for three open positions and a form for people to sign up for more information.
The Washington Free Beacon reported that the Trump administration’s Department of Government Efficiency (DOGE) project, along with new EPA administrator Lee Zeldin, are raising questions about the $2 billion grant PFC received from the Biden EPA’s National Clean Investment Fund (NCIF), ostensibly for the “affordable decarbonization of homes and apartments throughout the country, with a particular focus on low-income and disadvantaged communities.”
PFC’s announcement of the grant is the organization’s only press release to date and is alarming given that the organization had somehow reported only $100 in revenue at the end of 2023.
“I made a commitment to members of Congress and to the American people to be a good steward of tax dollars and I’ve wasted no time in keeping my word,” Zeldin said. “When we learned about the Biden administration’s scheme to quickly park $20 billion outside the agency, we suspected that some organizations were created out of thin air just to take advantage of this.” Zeldin previously announced the Biden EPA had deposited the $20 billion in a Citibank account, apparently to make it harder for the next administration to retrieve and review it.
“As we continue to learn more about where some of this money went, it is even more apparent how far-reaching and widely accepted this waste and abuse has been,” he added. “It’s extremely concerning that an organization that reported just $100 in revenue in 2023 was chosen to receive $2 billion. That’s 20 million times the organization’s reported revenue.”
Daniel Turner, executive director of energy advocacy group Power the Future, told the Beacon that in his opinion “for an organization that has no experience in this, that was literally just established, and had $100 in the bank to receive a $2 billion grant — it doesn’t just fly in the face of common sense, it’s out and out fraud.”
Prominent among PFC’s insiders is Abrams, the former Georgia House minority leader best known for persistent false claims about having the state’s gubernatorial election stolen from her in 2018. Abrams founded two of PFC’s partner organizations (Southern Economic Advancement Project and Fair Count) and serves as lead counsel for a third group (Rewiring America) in the coalition. A longtime advocate of left-wing environmental policies, Abrams is also a member of the national advisory board for advocacy group Climate Power.
DOGE is currently conducting a thorough review of federal executive-branch spending for the Trump administration, efforts that left-wing activists are challenging in court. The official DOGE website currently claims credit for a total estimated savings of $55 billion.
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