A number of people have expressed the view that the Australian carbon pricing scheme or carbon tax is a waste of time because it will largely rely on the importation of international carbon credits to achieve emissions targets.
If you look at the government’s own Treasury modelling it suggests that the carbon pricing scheme will indeed be heavily reliant on international credits to achieve emission targets, accounting for 97 million of the 152 million tonnes of abatement required by 2020 and around half of the abatement out to 2050.
I'm sorry if I am as skeptical of Al's financial acumen as I am of his meteorological expertise. But green investments are terrible performers.
More than a year ago I told my clients and readers to 'sell everything under the sun.' I shorted First Solar, America's largest solar manufacturer.
The stock was at $120. Today is at $14.
Line 'em up: The green energy cars, green battery companies, green solar, green wind, green you name it: They are toxic to a portfolio. Unless of course you short them.
Satellites measure the absolute elevation of the sea surface, whereas tide gauges measure the height of the sea relative to the land. If tide gauges show a large increase in sea level, but satellites don’t – the only rational explanation is that the land is sinking.
This is very basic science, and the failure of the experts to realize this is yet another indication that these people are incompetent.