The Calgary Herald reported April 08, 2016 that the Canadian Association of Petroleum Producers forecasts a $50 billion drop in oilpatch investment by year end.
While certainly numerous global factors like the glut of oil from OPEC countries have an effect, other factors are influencing investment decisions in fossil fuels. This is not about a ‘conspiracy’ because none of this is happening in secret. It’s all right out there in the open.
Our new report “Undue Influence – Markets Skewed” Undue Influence Markets skewed april 5 2016 FINAL ic bl reviews how financial markets and philanthropies are making claims that are not supported by climate science evidence, and some parties are moving to dramatically alter investment and reporting methods. Some of these parties appear to have significant conflicts of interest. While this information is widely available in the public domain, the average banker, investor or individual might not be able to spend the time researching the various actors and outcomes or connect the dots as we have in this report.
The parties are unelected and unaccountable – yet they wield significant control over governments and industry through their extended echo-chamber of their well-funded ENGOs who drive ‘social license’ or who harass banks. The US Senate issued a report entitled: “The Chain of Environmental Command: How a Club of Billionaires and their Foundations Control the Environmental Movement and Obama’s EPA”
Ironically, they report that anti-capitalist Naomi Klein is one of the fundees of this billionaire’s club.
At the Davos World Economic Forum in January 2016, Stuart Gulliver of HSBC Bank implored ENGOs to stop demonizing fossil fuels. This has resulted in a full-on point and click email attack on Mr. Gulliver by “Moveyourmoney.org” with a long harangue about fossil fuel investments.
This group claims: “We are funded by the Friends Provident Foundation, and previously by the Barrow Cadbury Trust and the Joseph Rowntree Charitable Trust.” Let’s look at one of these – the Joseph Rowntree Charitable Trust is a Quaker organization that appears to not mind putting people out of work in its demand for “climate justice.” In its “Divest Invest Philanthropy” pledge (which opens with climate catastrophe predictions and references to Noah and his ark), they go on to cite Mark Carney as a climate authority, despite Mr. Carney’s widely publicized speech to Lloyd’s having been fact-checked and found wanting by Steve Kopits of Prienga Energy Advisors.
One has to ask – is it right for international philanthropies and charitable organizations who benefit from special tax rules and are effectively subsidized by taxpayers, to be funding efforts to demonize necessary energy industries, resulting in skewed financial markets, destruction of market value of shares, the hyping of climate catastrophe thinking that is not supported by the evidence, with the end result that governments adopt climate change policies that are not based on a Cost-Benefit Analysis, and industries face exorbitant energy prices. This ends up putting taxpayers out of work. And energy shares are snapped up by speculators at low market prices.
This appears to violate several principles of fair trade and competition. Many Canadians see these agenda-driven activities as nothing more than a trade war cloaked in green.
These are our opinions based on available material in the public domain.Undue Influence Markets skewed april 5 2016 FINAL ic bl