Weekly Climate and Energy News Roundup #343

The Week That Was: 2019-01-12, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “There is no such thing as consensus science. If it’s consensus, it isn’t science. If it’s science, itds isn’t consensus. Period.” — Michael Crichton. [H/t William Readdy]

Number of the Week: ZERO

Two Types of Energy Flow: Last week’s TWTW produced several responses with questions that need to be explained further. Forty years of comprehensive atmospheric temperature trends, the last twenty years with no statistically significant warming, and 60 years of balloon observations show that the global atmosphere is not the warming envisioned in the 1970s and early 1980s, for example, in the influential Charney Report of 1979. Yet, the assumptions in these speculated findings are embodied in the “theory” of climate science and the reports of the UN Intergovernmental Panel for Climate Change (IPCC) and the US Global Change Research Program (USGCRP). These government entities have failed to test their findings against atmospheric data, the data set that most clearly reflects the impact of greenhouse gases.

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‘Big Mac Index’ Shows US Dollar Strongest in 30 Years

Re-Blogged From Newsmax

The U.S. currency is at its strongest level in 30 years, according to the Economist newspaper’s January 2019 “Big Mac Index.”

The newspaper’s “lighthearted guide to exchange rates” measures the purchasing power of currencies against each other. The gauge also compares the prices of McDonald’s flagship hamburger, the Big Mac, in different countries with the actual exchange rate between the currencies to determine whether a currency is over- or undervalued.

For example, “a Big Mac costs 3.19 pounds in Britain and $5.58 in the United States. The implied exchange rate is 0.57 [pound per dollar]. The difference between this and the actual exchange rate, 0.78, which suggests the British pound is 27% undervalued,” the Economist said.

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Russian Weapon 27 Times Faster Than Speed of Sound

By Associated Press – Re-Blogged From Newsmax

Russia’s new strategic weapon has rendered any missile defenses useless at a small fraction of their cost, officials said Thursday.

The Avangard hypersonic glide vehicle flies 27 times faster than the speed of sound, making it impossible to intercept, Deputy Prime Minister Yuri Borisov told Russian state television.

The new weapon “essentially makes missile defenses useless,” he said.

Official: Russian Weapon 27 Times Faster Than Speed of Sound

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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 Economic Road Ahead

By GE Christenson – Re-Blogged From Gold Eagle

Rules help guide us through uncertainty.

THOSE WHO MAKE THE RULES

For perspective on Washington D.C. and Wall Street, we listen to wisdom and wit from Bill Bonner:

“We look at the passing parade in Washington through a cynical lens…

No situation is so hopeless… so absurd… or so disastrous that the feds can’t make it worse. No policy is too stupid… too counterproductive… or too corrupt that it can’t become the law of the land.

And no man is too craven… too degenerate… or too much of an imbecile to be disqualified from public office.”

The public officials described above make the rules.

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Gold – A Perfect Storm For 2019

By Alasdair Macleod – Re-Blogged From GoldMoney

This article is an overview of the principal factors likely to drive the gold price in 2019. It looks at the global factors that have developed in 2018 for both gold and the dollar, how geopolitics are likely to evolve, the economic outlook and how it is worsened for the dollar by President Trump’s tariff war against China, the availability and likely demand for bullion, and the technical position in paper markets. Taken together, the outlook is bullish for gold.

2018 reprise

For gold bulls, 2018 was disappointing. From 11 December 2017, when gold made a significant bottom against the dollar at $1243, it has ended virtually unchanged today, after being 4.2% up. Gold had to struggle against a rising dollar, whose trade-weighted index rose a net 3.7% over the same period, and as much as 9.4% from its mid-February low.

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