Expensive Climate Policies Sparked Chile Riots

By: James Taylor – Re-Blogged From WUWT

From the unintended consequences department. The COP25 climate conference in Santiago Chile was cancelled, and now moved at the last minute to Madrid, Spain.

Climate activists and the United Nations are suffering a major black eye this week as protests and riots resulting from high energy prices have erupted in Santiago, Chile.

Chile, which will host a major U.N. climate conference in December, earned praise from climate activists for recently imposing a carbon dioxide tax on conventional energy sources and switching the Santiago Metro system to renewable power. Now, the people of Chile are rising up and firing a shot across the bow of other nations considering similar energy taxes and expensive renewable energy programs.

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The Days the Music Died

The music died many times in the past. To name a few:

  • 1929 Market crash
  • 1933 President Roosevelt confiscates citizen gold and declares it illegal to own more than a few ounces.
  • 1971 President Nixon “closed the gold window” and severed the last link between the devaluing dollar and gold.
  • 1987 Stock market crash
  • 2000 Stock market and “dot-com” crash
  • 2008 Stock market and housing crash
  • 2019? Stock market and “everything bubble” correction/crash
  • 2020-2025? “Inflate or Die” QE, bond monetization, helicopter dollars etc.

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UK Faces Huge Loss From Electric Vehicle Adoption

If Great Britain keeps its commitment to switch over its vehicles to electric by 2050, the government will see a whopping loss of 28 billion pounds ($35 billion) paid by motorists driving traditional gasoline- and diesel-powered vehicles.

That comes from a study released Friday by London-based Institute for Fiscal Studies examining the impact of the UK’s net-zero greenhouse gas emissions law adopted in June and signed by previous Prime Minister Theresa May. England became the first G7 country to set the goal of reaching zero net emissions by 2050.

Some Californians Are Paying $5 For A Gallon Of Gas, Which Could Mean Trouble For 2020 Democrats

By Audrey Conklin – Re-Blogged From The Daily Caller

Energy

Some Californians Are Paying $5 For A Gallon Of Gas, Which Could Mean Trouble For 2020 Democrats, Candidate Says

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  • Gas prices in California have soared to $5 in some areas, according to the Oil Price Information Service.
  • Republican candidate for California’s 50th Congressional District Carl DeMaio told the Daily Caller News Foundation that the price increase is due to “taxes, mandates and regulations” imposed by Democrats.
  • DeMaio added the burden of expensive fuel will “absolutely” have an impact on the next elections.

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A Wealth Tax Consumes Capital

By Keith Weiner – Re-Blogged From Gold Eagle

It seems one cannot make a name for one’s self on the Left, unless one has a proposal to tax wealth. Academics like Tomas Piketty have proposed it. And now the Democratic candidates for president in the US propose it too, while Jeremy Corbyn proposes it in the UK. Venezuela finally added a wealth tax in July.

A Wealth Tax

So how does a wealth tax work? The politicians quibble among themselves, as if the little implementation details that differ between them are important. But they share the key idea. The wealth taxman is to go to the people who have wealth, and take some. And next year, come back and take more. And so on.

It should be obvious that this is morally wrong. But we want to focus on the economics. To do that, we need to drill down into the nature of wealth. What is wealth?

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Weekly Climate and Energy News Roundup #370

The Week That Was: August 3, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “Do you know what we call opinion in the absence of evidence? We call it prejudice.”— Michael Crichton [H/t William Readdy]

Number of the Week: 1998 and 2016

Confusing Planet: Our planet is a complex place, no doubt confusing global warming headline seekers. About 71%of the surface is water (ocean), 29% is land. Water warms and cools far more slowly than land. Complicating matters further, the dominant greenhouse gas is water vapor, slowing the nighttime cooling of water and land masses even further, where it is present.

Making matters even more complex is that about 81% of the Southern hemisphere is water and 19% is land. For the Northern Hemisphere, about 61% is water and 39% is land. Land area varies by latitude. About 68% of the land is in the Northern Hemisphere, only 32% in the Southern Hemisphere. By latitude, the highest percentage of land area is between 30 degrees North and 60 degrees North. [The distribution of land areas has changed significantly over the past 750 million years, making any paleo-earth studies of the greenhouse effect of carbon dioxide on temperatures difficult. One cannot assume the ocean currents were the same as today.]

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Federal Debt Ceiling Reached As Federal Spending Rages

By Clint Siegner – Re-Blogged From Gold Eagle

The federal government will soon run up against its self-imposed borrowing cap once again.

Current estimates are for the government to max out its credit limit at a little over $22 trillion in early September. Congress goes on recess in August, so there is some pressure to address the cap right now.

Treasury Secretary Steve Mnuchin has been fulfilling what seems to be the most sacred responsibility of his position: borrowing money. It’s one that each of his predecessors has also undertaken, without fail and without regard to party affiliation, in recent decades.

He is solemnly arguing why it would be wholly irresponsible for Congress not to approve another massive increase in what the Treasury can borrow.

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