Weekly Climate and Energy News Roundup #361

The Week That Was: By Ken Haapala, President, SEPP

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

Quote of the Week: “It is a pleasure to stand upon the shore, and to see ships tost [sic] upon the sea: a pleasure to stand in the window of the castle and to see the battle and the adventures thereof below: but no pleasure is comparable to the standing upon the vantage ground of truth ( a hill not to be commanded and where the air is always clear and serene), and to see the errors, and wanderings, and mists, and tempests, in the vale below. – From Of Truth, Francis Bacon [H/t Numberwatch, hopefully returning]

Number of the Week: 5 million tonnes per annum (MTPA) of LNG, which is equal to about 0.7 billion [standard, normal temperature and pressure] cubic feet per day (Bcf/d) of natural gas

The Greenhouse Effect –Atmospheric Layers: The atmosphere is divided into distinct layers and the altitude of the layers depends on the latitude, the distance from the equator. One could think of an oval shape with the thickest (elongated) part being above the equator. (Seasonal variation will be ignored in this section.)

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Negative Interest Rates Spread To Mortgage Bonds

By John Rubino – Re-Blogged From Dollar Collapse

There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling.

Until now those negative yields have been limited to the safest types of bonds issued by governments and major corporations. But this week a new category of negative-yielding paper joined the party: mortgage-backed bonds.

Bankers Stunned as Negative Rates Sweep Across Danish Mortgages

(Investing.com) – At the biggest mortgage bank in the world’s largest covered-bond market, a banker took a few steps away from his desk this week to make sure his eyes weren’t deceiving him.

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Is Denmark Socialist?

By Otto Brøns-Petersen – Re-Blogged From Prager University

Socialism has failed across the world – from the Soviet Union and Eastern Europe to China, Vietnam, North Korea and, most recently, Venezuela. So now the left references countries like Denmark as “proof” that socialism works. Otto Brons-Petersen explains why they’re wrong: Denmark is just as capitalist as the United States.

Please watch the video.

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US CO2 Emissions Fall Under Trump, While the World Increases #MAGA

Mike Bastasch at the Daily Caller – Re-Blogged From WUWT

Greenhouse gas emissions continued to plummet during President Donald Trump’s first year in office, according to new Environmental Protection Agency (EPA) data.

  • U.S. greenhouse gas emissions fell 2.7 percent from 2016 levels, according to the EPA.
  • Emissions on a per-capita basis hit a 67-year low last year, federal data shows, and supporters are touting EPA’s data as proof Trump’s agenda is working.
  • EPA’s new data comes on news that, globally, greenhouse gas emissions are set to rise to historic highs by the end of the year, despite nearly 200 countries signing the Paris climate accord.

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2007 All Over Again, Part 7: Borrowers Start Scamming Desperate Lenders

By John Rubino – Re-Blogged From Dollar Collapse

One of the hallmarks of late-stage bubbles is a shift of power from lenders to borrowers. As asset prices soar and interest rates plunge it becomes harder to generate a decent yield on bonds and other fixed income securities, so people with money to lend (like pension funds and bond mutual funds) are forced to accept ever-less-favorable and therefore far-more-risky terms.

Recall the liar loans that were popular towards the end of the 2000s housing bubble and you get the idea. Lenders were so desperate for paper to feed the securitization machine that they literally stopped asking mortgage borrowers to prove that they could cover the interest.

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“The money is just sitting there…doing nothing for society”

By John Rubino – Re-Blogged From Dollar Collapse

Of all the disturbing side-effects of modern monetary policy, the worst might be the way artificially-low interest rates encourage small savers to take outsize risks. Now governments are starting to insist:

How Denmark Is Trying to Get Savers to Invest in Risky Assets

(Bloomberg) – In the country with the longest history of negative interest rates, an experiment is under way.The minister in charge of Denmark’s finance industry wants savers to shift some of the billions of kroner now in bank deposits over to riskier assets.

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