Green taliban co-leader James Shaw attempts to scare investors out of fossil fuels

" Don't shoot "

Green Party co-leader James Shaw said Finance Minister Bill English needed to open his eyes to climate change or risk being hit by the “perfect financial storm”.

The Greens are calling on the government to require all public fund managers to disclose their exposure to climate risks, following Dr [Jan] Wright’s report.

“Publicly managed funds in New Zealand have significant investments in the fossil fuel industry, in assets that could lose value rapidly as major economies like China and the EU shift to cleaner energy,” Mr Shaw said.

“New Zealanders, who have money tied up in these funds, should be aware of how much of their savings are exposed if the value of the fossil fuel industry declines.”

I don’t even know where to start.

The clean non-oil energy storm has been predicted for nearly half a century now.   Any change is hardly going to be rapid, and investors are hardly going to get caught overnight.

Secondly, as the price of oil drops due to a drop in demand, it becomes cheaper again, and the economics of going for alternative energy will be less favourable.

Shaw thinks that industry will change the way it works based on idealogical values instead of bottom line drivers.  Sure, there are some that do, but industries and countries as a whole will generally only go “green” when the numbers are more or less the same, or, if there is trough full of subsidies to be had.

Take a look at electric vehicles.  They simply do not provide a cleaner, greener and more acceptable alternative.  One day they might, but it’s a process where the scale of manufacturing and external factors are going to be major influencers, and while we’re still being highly efficient at creating petrol and petrol driven vehicles, the revolution that Shaw dreams about is probably still another half century off.

Electric vehicles may not directly run on oil for a fuel, but they still contain plastics, polymers and rubbers.  All the metals need to be mined from the earth, especially those that go into the huge battery banks.  Batteries that don’t last that long and need replacement.  And, of course, the electricity they run on is still partially generated by coal and gas, if not nuclear.

I think it is a safe bet not to take investment advice from the leader of the Green Party about any impending green energy driven market crash.  Fund managers will divest away from those industries well ahead of time.

 

– NZN via Newshub

 

 


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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