The money trail
March 4, 2010
But I thought this was all about saving the planet from burning up while the raging seas were predicted to wash away America’s coast lines. Wow do I feel like a fool, this has all been over money? Ya think? Laughing while watching another progressive scheme blow up in their faces. Random thoughts while observing the passing parade, J.C.
Somehow the tables have turned. For all the smears of big money funding the “deniers”, the numbers reveal that the sceptics are actually the true grassroots campaigners, while Greenpeace defends Wall St. How times have changed.
Sceptics are fighting a billion dollar industry aligned with a trillion dollar trading scheme. Big Oil’s supposed evil influence has been vastly outdone by Big Government, and even those taxpayer billions are trumped by Big-Banking.
The big-money side of this debate has fostered a myth that sceptics write what they write because they are funded by oil profits. They say, follow the money? So I did and it’s chilling. Greens and environmentalists need to be aware each time they smear with an ad hominem attack they are unwittingly helping giant finance houses.
FOLLOW THE MONEY
Money for Sceptics: Greenpeace has searched for funding for sceptics and found $23 million paid by Exxon over 10 years (which has stopped). Perhaps Greenpeace missed funding from other fossil fuel companies, but you can be sure that they searched. I wrote the Climate Money paper in July last year, and since then no one has claimed a larger figure. Big-Oil may well prefer it if emissions are not traded, but it’s not make-or-break for them. If all fossil fuels are in effect “taxed”, consumers will pay the tax anyhow, and past price rises in crude oil suggest consumers will not consume much less fuel, so profits won’t actually fall that much.
But in the end, everyone spends more on carbon friendly initiatives than on sceptics– even Exxon: (how about $100 million for Stanford’s Global Climate and Energy Project, and $600 million for Biofuels research). Some will complain that Exxon is massive and their green commitment was a tiny part of their profits, but the point is, what they spent on sceptics was even less.
Money for the Climate Industry: The US government spent $79 billion on climate research and technology since 1989 – to be sure, this funding paid for things like satellites and studies, but it’s 3,500 times as much as anything offered to sceptics. It buys a bandwagon of support, a repetitive rain of press releases, and includes PR departments of institutions like NOAA, NASA, the Climate Change Science Program and the Climate Change Technology Program. The $79 billion figure does not include money from other western governments, private industry, and is not adjusted for inflation. In other words, it could be…a lot bigger.
For direct PR comparisons though, just look at “Think Climate Think Change“: the Australian Government put $13.9 million into just one quick advertising campaign. There is no question that there are vastly more financial rewards for people who promote a carbon-made catastrophe than for those who point out the flaws in the theory.
Ultimately the big problem is that there are no grants for scientists to demonstrate that carbon has little effect. There are no Institutes of Natural Climate Change, but plenty that are devoted to UnNatural Forces.
It’s a monopsony, and the main point is not that the scientists are necessarily corrupted by money or status (though that appears to have happened to a few), but that there is no group or government seriously funding scientists to expose flaws. The lack of systematic auditing of the IPCC, NOAA, NASA or East Anglia CRU, leaves a gaping vacuum. It’s possible that honest scientists have dutifully followed their grant applications, always looking for one thing in one direction, and when they have made flawed assumptions or errors, or just exaggerations, no one has pointed it out simply because everyone who could have, had a job doing something else. In the end the auditors who volunteered — like Steve McIntyre and AnthonyWatts — are retired scientists, because they are the only ones who have the time and the expertise to do the hard work. (Anyone fancy analysing statistical techniques in dendroclimatology or thermometer siting instead of playing a round of golf?)
Money for the Finance Houses: What the US Government has paid to one side of the scientific process pales in comparison with carbon trading. According to the World Bank, turnover of carbon trading reached $126 billion in 2008. PointCarbon estimates trading in 2009 was about $130 billion. This is turnover, not specifically profits, but each year the money market turnover eclipses the science funding over 20 years. Money Talks. Every major finance house stands to profit as brokers of a paper trade. It doesn’t matter whether you buy or sell, the bankers take a slice both ways. The bigger the market, the more money they make shifting paper. Complete Article