Nobel Chutzpah Prize 2015

The problem with climate change “deniers” and low carbon energy “sceptics” is that they cannot read.

Here’s Jo Nova, claiming that the United Nations and the World Bank are demanding $89 trillion “to fix climate”.

She writes, “The ambit claims know no bounds. Who else would ask for $89,000,000,000,000? If the evil “more developed” nations pay for their carbon sins, the bill for those 1.3 billion people works out at $70,000 per person by 2030 (babies included).”

A simple little diagram from the actual report and a little text, shows she is entirely wrong :-

From Section 2.1 “Infrastructure investment and global growth” :-

“The global economy will require substantial investments in infrastructure as the population and the middle class grow. An estimated US$89 trillion of infrastructure investment will be required through 2030, based on data from the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development (OECD), and analysis for the Commission (see Figure 1). This is chiefly investment in energy and cities. This estimate for the required investment is before accounting for actions to combat climate change.”

That’s before accounting for actions to combat climate change, Ms Nova. Before. I know it’s probably clanging against your internal cognitive fences, but the fact is, the world needs to spend a heap of capital in the next 20 to 30 years reviving, replacing and renewing energy systems infrastructure. That spending has to happen regardless of whether it’s low carbon spending.

And let’s read the note on Figure 1 more carefully :-

“INCLUDING OPERATING EXPENDITURES WOULD MAKE A LOW-CARBON TRANSITION EVEN MORE FAVOURABLE LEADING TO A FURTHER REDUCTION OF US$5 TRILLION, FOR OVERALL POTENTIAL SAVINGS OF US$1 TRILLION”

So, Jo Nova, the world will actually be better off if it decides to make all new energy expenditure low carbon.

Jo Nova, when will you be updating your web post ?

2 thoughts on “Nobel Chutzpah Prize 2015”

  1. I think you are the one that needs to “read” Jo.

    “Over the next 15 years, the global economy will require an estimated $89 trillion in infrastructure investments across cities, energy, and land-use systems, and $4.1 trillion in incremental investment for the low-carbon transition to keep within the internationally agreed limit of a 2 degree Celsius temperature rise.”

    Taken straight from Nova’s blog

    So that is $89 Trillion in infrastructure – Check

    and £4.1 Trillion in incremental investments for low carbon transition blah blah blah.

  2. Not keen on having the reality explained to you then Jo?

    But then calling people “deniers” underlines the fact that you and other “believers” are just that – Believers in a deeply flawed agenda driven hypocritical nonsense.

    Deniers and sceptics get your wrath because the questions we ask are too difficult for the believers to deal with.

    But at least we have a government that sees reality now – lets see if Solar Power can survive with a much reduced FIT such that it will now compete more on a level playing field.

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