As I’ve pointed out many times before, a large part of the international climate change racket is the way in which it can be turned into just another way of effecting a wealth transfer from wealthy nations to the poorer developing nations of the world, even though most foreign aid often turns developing nations into corrupt kleptocracies.
Most developing nations are increasing their use of oil and building coal-fired power plants at a rapid clip, because most of them would like to have energy sources that work. But if they can get a payoff from rich countries they are more than willing to play along with the UN’s climate change charade. Thus, the Paris Climate Accord, building on previous climate meetings, promised $100 billion in “climate aid” to developing nations. And now at the latest follow up meeting last week, developing nations were holding up progress by asking, “Where’s the cash?”
Two weeks of climate talks organized by the United Nations finished with developing countries demanding more clarity from their richer counterparts on when a promised package of $100 billion in finance will materialize.
Envoys from almost 200 nations are leaving Bonn, Germany, on Thursday without producing a draft negotiating text for ministers to discuss at the end of the year. Instead, they planned another round of negotiations in Bangkok before their annual conference in Poland in December.
The holdup threatens to unravel three years of work to complete the Paris Agreement, a landmark deal reached in 2015 that set out an ambition to limit fossil-fuel pollution in all nations for the first time. . . Rich countries led by the U.S. and European Union pledged in 2009 to ramp up climate-related funds to $100 billion a year by 2020.
OMG! There’s no draft negotiating text!! The planet is doomed!
As to the question of when rich nations are going to cough up the promised dough, how does the 12th of never sound? With the wealthy welfare states (including the United States) facing fiscal incontinence as far as the eye can see, just how realistic is it that they’re going to cough up $100 billion a year, especially since the climate change racket thinks this figure is just a down payment on much larger wealth transfers in the future?
Chaser: So many European nations are stealthily abandoning their clean energy nonsense that the price of European emissions allowances has collapsed: