In a Bloomberg interview in Berlin, Larry Fink of BlackRock said ‘do not ever divest of hydrocarbons’ as they will be with us for a long, long time, bringing energy reality to the fore, says Friends of Science Society. UAE COP-28 president-elect, Sultan al-Jaber also says “…we need to sober up and be more realistic and more practical,” referring to climate activists clamoring for immediate fossil fuel phase-out, who are agitating against his leadership at COP28.
CALGARY, Alberta, Oct. 3rd, 2023 /PRNewswire-PRWeb/ — In a surprising Bloomberg interview of Sept. 29, 2023, at the Berlin Global Dialogue forum, Larry Fink, CEO of BlackRock, the world’s largest asset manager and decarbonization advocate, said “Hydrocarbons are going to be with us for a long, long time and that’s why we are working with energy companies, not against energy companies. That is why we said, ‘do not ever divest of hydrocarbons’,” bringing much-needed energy reality to the global conversation, says Friends of Science Society.
Friends of Science says this message should hit home with the Canadian Senators for Climate who are trying to introduce a Climate Finance bill to choke off investment for fossil fuels. The Office of the Superintendent of Financial Institutions in Canada has been taking advice from climate activist environmental groups, says Friends of Science Society, a move critiqued in their open letter of July 31, 2023, which exposed Conflicts of Interest in the world of climate science and policy.
In the Bloomberg interview, Larry Fink said BlackRock are using Artificial Intelligence (AI) to examine physical climate risk and have really advanced models that can show where climate risk can have a real impact. “How should we invest in that? How should we think about that?” BlackRock offers “Aladdin Climate” risk analysis.
In an Oct. 21, 2022, presentation for the National Association of Scholars, climate policy analyst Roger Pielke, Jr. was critical of climate models used by the Network for Greening the Financial system, stating that the models used by central banks around the world are “wildly implausible and of questionable practical utility.” He notes that the implausible scenario known as Representative Concentration Pathway 8.5 (RCP8.5) is frequently employed.
Robert Lyman’s report “Between the Implausible and the Impossible” shows how this scenario distorts climate policy. Climate analysts Roger Pielke, Jr. and Justin Ritchie have done an extensive review showing that RCP8.5 is used in all catastrophic forecasting. Without it, there is no climate emergency.
Climate activists have been raging against the fact that the upcoming global climate confab, the UN Conference of the Parties – COP28 – will be held in the United Arab Emirates with president-designate Sultan al-Jaber, CEO of the Abu Dhabi National Oil Co. But as reported by CTV News, Sept. 30, 2023. Sultan al-Jaber is an energy realist, too, who said: “Some are promoting the fact that we can just unplug the world from the current energy system and with a flick of a switch, we can just initiate a new energy system,” he said. “That doesn’t work. It won’t work. So, we need to sober up and be more realistic and more practical.”
In Alberta, Canada, Premier Danielle Smith has been trying to convey this type of message to Canada’s Environment Minister Steven Guilbeault. As reported by the Globe and Mail on Sept. 29, 2023, Smith and Guilbeault are facing off over proposed Clean Electricity Regulations which would put Alberta at risk of blackouts. This fear was confirmed by the Alberta Electric System Operator (AESO), at a press conference on Sept. 28, 2023. Friends of Science explainer offers a plain language discussion on Alberta’s grid challenges. In short, too rapid adoption of too many renewables; too rapid coal phase-out – not enough dispatchable power. The AESO reported there were seven near blackouts in the fall of 2022. Temperatures in Alberta can dip to minus 40 C/F in winter; blackouts pose a serious threat to life.
An op-ed by energy analyst and author Ronald Stein, published by CFACT on Oct. 2, 2023, discusses the “Dangerous Delusion of a Global Transition to ‘Just Electricity’“.
As reported by Physics.org on Sept 27. 2023, a new study shows that polar bears survived the last deglaciation, putting to bed a climate fear that had haunted Greta Thunberg from childhood.
In a 2016, interview with Friends of Science, Dr. Ian Clark, explained that polar bears are adaptable and survived the Holocene Hypsithermal some 8,000 years ago when Arctic sea ice melted. Dr. Clark will be one of Friends of Science Society’s guest speakers at their upcoming Oct. 17, 2023 event in Calgary – “Break Free from Climate Tyranny: Evidence Over Ideology.”
Dr. Clark was one of the first Canadian scientists to do a U-turn on the claim that carbon dioxide was causing catastrophic warming, as he relates in the 2008 documentary “Climate Catastrophe Cancelled.”
Friends of Science has posed the question in a video, “What if CO2 is Good for you?“
Friends of Science Society is an independent group of earth, atmospheric and solar scientists, engineers, and citizens that is celebrating its 21st 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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“Hydrocarbons are going to be with us for a long, long time and that’s why we are working with energy companies, not against energy companies. That is why we said, ‘do not ever divest of hydrocarbons’”
SOURCE Friends of Science Society