The Plunge Protection Team, The Fed And The Investor Costs

The “Plunge Protection Team” is the colloquial name for the Working Group on Financial Markets (WGFM). The Working Group was established by the executive order of President Reagan in 1988, in the aftermath of the stock market plunge of October, 1987.

The group reports to the President, and the official members of the group include the Secretary of the Treasury, the chairman of the Federal Reserve, the chairman of the SEC, and the chairman of the CFTC. In other words, the group members are the four most powerful financial officials in the United States. In practice, the committee can be composed of senior aides and officials that have been designated by those top officials.

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Weekly Climate and Energy News Roundup #341

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “On what principle is it that with nothing but improvement behind us, we are to expect nothing but deterioration before us?” – Lord Macaulay, [H/t Matt Ridley]

Number of the Week: Up to a 50% increase in efficiency?On to Chile: Some seem to be disappointed with the outcome of the 24th Conference of Parties (COP-24) of the United Nations Framework Convention on Climate Change (UNFCCC) in Katowice, Poland, in a coal mining district. Rather than adopting hard, fast rules for the implementation of the Paris Agreement, the delegates adopted vague generalities and promised to do more. Reading through the “bureaucratic speak,” of the concluding remarks by the UN Secretary General, António Guterres, read by Patricia Espinosa, Executive Secretary of the UNFCCC, the stated goals were not accomplished. The Secretary General wrote:

“I’d first like to thank the Presidency of the COP for the enormous efforts it deployed to organize this 24th session in Katowice, Poland.

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The Snow Job in Poland

By Craig Rucker – Re-Blogged From WUWT

IPCC climate confab seeks to stampede the world into adopting destructive energy policies

Any blizzards that blanket Poland this winter can’t compare to the massive snow job climate campaigners are trying to pull off.

Some 30,000 politicians, activists, computer modelers, bureaucrats, lawyers, journalists, renewable energy sellers and a few scientists are in Katowice, Poland December 2-14, for another Intergovernmental Panel on Climate Change conference. Four issues will dominate the agenda.

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California Officially Becomes First in Nation Mandating Solar Power for New Homes

By Jeff Collins – Re-Blogged From Orange County Register

California officially became the first state in the nation on Wednesday, Dec. 5 to require homes built in 2020 and later be solar powered.

To a smattering of applause, the California Building Standards Commission voted unanimously to add energy standards approved last May by another panel to the state building code.

Two commissioners and several public speakers lauded the new code as “a historic undertaking” and a model for the nation.

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The Green Climate Deal

By Willis Eschenbach – Re-Blogged From WUWT

I see that Ms. Alexandria Ocasio-Cortez and Mr. Bernie Sanders are pushing something called a “Green New Deal”, so I thought I’d take a look. The Hill has a piece entitled Progressives say dire climate reports point to need for ‘Green New Deal’,  and the Atlantic magazine has an article on it headlined The Democratic Party Wants to Make Climate Policy Exciting. Make climate policy exciting? Well, I guess so, but only if you consider economic suicide exciting …

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The Clever Ruse of Rising Sea Levels

By Jay Lehr and Tom Harris – Re-Blogged From WUWT

Alarmists try to frighten people, and stampede them into terrible energy decisions

For the past 50 years, scientists have been studying climate change and the possibility of related sea level changes resulting from melting ice and warming oceans. Despite the common belief that increasing levels of carbon dioxide (CO2) in our atmosphere could result in catastrophic sea level rise, there is no evidence to support this fear. Tax monies spent trying to solve this non-existent problem are a complete waste.

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Weekly Climate and Energy News Roundup #338

Brought to you by http://www.SEPP.org, Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time.” — Attributed to Abraham Lincoln

Number of the Week: Minus 211,000 bb/d


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The Persistent Sun: In his first blog post in ScienceBits for some time, Nir Shaviv, Chairman, Racah Institute of Physics, describes his brief presentation to Environment committee of the German Bundestag. The invitation was quite a surprise, because Shaviv is a climate “skeptic” meaning he does not believe carbon dioxide (CO2) is the primary driver of climate change – the sun is. Shaviv makes another important distinction between his work and the work of global warming promoters of CO2-caused warming such as the UN Intergovernmental Panel on Climate Change (IPCC) and its US followers, the US Global Change Research Program (USGCRP). As Shaviv states:

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