3 thoughts on “Carbon Bubble-heads: ‘$674 billion spent last year on the discovery of new fossil fuel deposits that likely will never be used’”

  1. The people involved in this all have vested interest. Follow the links through to Carbon Tracker and you find Jeremy Legget, one time Greenpeace “scientist” and collector of public subsidy via his company Solar Century. When there was a threat to cut the stupid feed in tariff (FIT)which keeps these companies in the money, he said: “We’ve had a lucky escape,” “There were massive forces of darkness lined up against us – a whole cadre of politicians and officials trying to, at the minimum, cut back the FIT and, if they could get away with it, shut it down completely.”
    http://www.independent.co.uk/news/people/profiles/jeremy-leggett-solar-storm-coming-the-battle-for-the-uk-energy-industry-2118401.html

    This 2010 report says “But without the FIT, renewables cannot move from the fringes to the mainstream.” Although the £8.6bn scheme is funded by a levy on customer bills, the Coalition Government’s commitment to balance Britain’s books – requiring cuts on a scale not seen for a generation – almost spelled doom for the FIT as the vested interests of major power companies weighed in against it.”

    It is he who is “getting away with it”, that is, UK taxpayer’s money, in big dollops.

  2. The “Carbon Bubble” rationale is an excellent example of GIGO. The input garbage assumptions are:

    “…a “carbon bubble” … is the result of global fossil fuel reserves that already far exceed the maximum amount we can afford to burn and still avoid the most disastrous effects of climate change.”

    “Despite this growing carbon bubble, and the inevitable movement towards a greatly reduced reliance on carbon intensive fuels in the future,…”

    The output garbage is everything that follows in the article.

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