JP Morgan's energy analysis exposes "The Elephants in the Room" on NetZero and ESG, challenging the breezy transition assumptions of people like Mark Carney says Friends of Science Society. The Stockholm+50 "Exponential Roadmap" hype and the UNEP push for climate lockdowns every year for a decade would be ineffective as the carbon dioxide (CO2) concentration change in the atmosphere due to the COVID lockdown was far smaller than the random natural fluctuations.
CALGARY, Alberta, June 8, 2022 /PRNewswire-PRWeb/ -- JP Morgan's 2022 Annual Energy Paper issued in May, subtitled "The Elephants in the Room" brings some gripping and grim reality to the Utopian goals of NetZero, ESG and climate lockdown advocates, says Friends of Science Society. "The Elephants in the Room" challenges many of the breezy assumptions of climate activists and financiers like Mark Carney and GFANZ collection*, whose recent DAVOS appearance suggests that just throwing money at climate and energy issues will result in magical results, when this is nothing more than Magical Thinking, as Robert Lyman has reported. (*GFANZ – Glasgow Financial Alliance for Net Zero)
In the Davos World Economic Forum of May 29, 2022, Carney claimed "We need an energy transformation on the scale of the industrial revolution at the speed of the digital transformation and therefore we need a revolution in finance."
Numerous independent energy analysts such as Vaclav Smil, Samuel Furfari, Ken Gregory, and Francis Menton have shown that such thinking in simply delusional.
The recent Stockholm+50 has been pushing the "Exponential Roadmap", issued September 2019. Subsequently, economist Marianna Mazzucato called for action now to avoid climate lockdowns, while the UNEP called for emissions cuts of 7.6% every year for the next decade . In the spring of 2021 World Economic Forum (WEF) cheered on COVID lockdowns as "improving cities" and was taken to task for its cruel tone-deafness by The Spectator (Australia).
The notion persists that there were dramatic reductions of carbon dioxide concentration in the atmosphere during COVID lockdowns, but this is inaccurate, as detailed in Friends of Science Open Letter to the Bank of Canada and in Dr. Roy Spencer's analysis.
An excerpt from the Open Letter reads: "The fact is the drop in emissions during COVID lockdowns is not enough to significantly affect the increase of Carbon Dioxide (CO2) in the atmosphere. One must compare the change of emissions to the annual change of CO2 concentrations, not to the cumulative CO2. This graph from Dr. Roy Spencer's article shows that the annual random fluctuations of the change of CO2 concentrations are far larger than the expected change due to lockdown reduction changes of emissions. The expected reduction in the annual CO2 increase in the atmosphere is only 0.12 ppm (twelve hundredth parts per million) due to the COVID lockdown in 2020. But the annual fluctuation is 0.5 to 1.0 ppm (5 tenths to 1 part per million) Therefore, the CO2 change in the atmosphere due to the COVID lockdown is far smaller than the random fluctuations."
"Furthermore, carbon dioxide has never been empirically shown to be the main driver of climate change. There has been no global change in extreme weather events, including floods, droughts, storms, or hurricanes."
As shown in "Net Zero + Green Grid = The Great Regret" event videos with Dr. Ian Plimer on climate science and Joanne Nova on the "Crash Test Dummy of Renewables – Australian power grid", NetZero and ESG policies are destroying the lives of people for no useful purpose. Climate lockdowns and cuts as proposed by Mazzucato and the UNEP would be a useless effort to mitigate climate change, but a catastrophic blow to human civilization.
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Friends of Science Society is an independent group of earth, atmospheric and solar scientists, engineers, and citizens that is celebrating its 20th year of offering climate science insights. After a thorough review of a broad spectrum of literature on climate change, Friends of Science Society has concluded that the sun is the main driver of climate change, not carbon dioxide (CO2).
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SOURCE Friends of Science Society
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