Bank of England Governor Under Fire Over Over Climate Alarmism

carneyBank of England boss Mark Carney was under fire last night after warning that climate change could trigger a financial crisis. Critics said the Governor’s ‘alarmist’ comments went outside his remit and accused him of ‘politicising’ the job. The banker, whose wife Diana is a prominent green campaigner, described global warming as ‘the tragedy on the horizon’ for the world economy. Critics dismissed his views, with the Financial Times saying Mr Carney’s intervention ‘comes dangerously close to taking sides’. –Hugo Duncan, Daily Mail, 2 October 2015

The future is closer than you think. This planet could become a stranded asset once the Martian microbes of doom reach us. This is a serious matter. Britain’s small businesses will find it far harder to sell their goods and services once the cosmos is ruled by Martians reaching us from our next-door neighbour in the solar system. The insurance industry is far from prepared for that eventuality. This is a macroprudential issue if ever I saw one. –Mystic Mark Carney, Financial Times, 1 October 2015

Wading into the climate change debate, Mark Carney, Governor of the Bank of England, has signalled that there is almost no area of public discourse that can be considered off limits. What next? The war in Syria? Come to think of it, why not put the Bank of England in charge of everything? There was something faintly reckless and naive about the Governor’s intervention. It is no exaggeration to say that the whole of modernity is based on hydrocarbons. Without coal, oil and gas, we’d still be in an age of limited life expectancy, subsistence farming and riding to market on horse and cart. However much we might wish it, this dependence is not going to change for a long time to come. Mr Carney’s intervention was no doubt well meaning, but he should stick to the day job. –Jeremy Warner, The Daily Telegraph, 1 October 2015

The International Energy Agency, which is the most highly regarded forecaster in this sector, forecast that over the next 25 years fossil fuel demand – so far from collapsing – is likely to increase. That’s their central forecast. So, the first question is what does the Bank of England know that the International Energy Agency doesn’t know about the energy sector? The other is, although the economy is now doing very much better, there are a whole lot of remaining problems in the financial sector. Wouldn’t it be better if you focused your attention on those instead of engaging in green claptrap? –Nigel Lawson questions Mark Carney, House of Lords 10 March 2015

India on Thursday submitted its ‘climate action plan’ to a UN body at Bonn in Germany, telling the world that the country would fight the climate change by taking energy efficiency route and reducing its ‘emission intensity’ (carbon emission per unit of GDP) substantially as well as increasing the share of clean energy by huge 40% in its total energy mix by the year 2030. The country, however, clarified that “India’s INDC do not bind it to any sector specific mitigation obligation or action, including in agriculture sector. The successful implementation of INDC is contingent upon an ambitious global agreement including additional means of implementation to be provided by developed country parties, technology transfer and capacity building”. –Vishwa Mohan, Times of India, 2 October 2015

Science, Space, and Technology Committee Chairman Lamar Smith (R-Texas) today sent a letter to Dr. Jagadish Shukla, a professor of climate dynamics at George Mason University who founded the Institute of Global Environment and Society (IGES). Chairman Smith: “IGES appears to be almost fully funded by taxpayer money while simultaneously participating in partisan political activity by requesting a RICO investigation of companies and organizations that disagree with the Obama administration on climate change.” In light of the non-profit’s decision to remove the controversial letter from its website, Smith directs IGES to preserve “all e-mail, electronic documents, and data created since January 1, 2009, that can be reasonably anticipated to be subject to a request for production by the Committee.” —Space Ref, 1 October 2015 

Trackback from your site.

Leave a comment (newest first):

Comments (11)

  • Avatar

    Al Shelton

    |

    Send him the same open letter that was sent to the pope.

    Reply

  • Avatar

    GR82DRV

    |

    Every con artist, huckster, scammer, swindler, bilker, hustler,flimflammer, and fleecer needs a dire crisis to exercise their fraud. All the better if the crisis is epic in scale and improvable by fact.

    [i]”Well, ya got trouble, my friend, right here,
    I say, trouble right here in River City…
    With a capital “T”
    That rhymes with “P”
    And that stands for Pool,
    That stands for pool.
    We’ve surely got trouble!
    Right here in River City,
    Right here!
    Gotta figure out a way
    To keep the young ones moral after school!
    Trouble, trouble, trouble, trouble, trouble…”
    [/i]

    Reply

  • Avatar

    Amber

    |

    Sooner or later Carney was going to step out of his job description and knowledge base . Ta Da …credibility vaporized .
    Is Carney laying the ground work to blame massive fiscal mismanagement by bankers and politicians on that old AL Gore chestnut scary global warming ?

    Actually that is really no longer a question because to many big brains are piling on . Create an artificial bogey man how clever .

    Reply

    • Avatar

      Mike Lowe

      |

      Actually, I think he was just trying to support the illogical views of his Greenie Extremist wife.

      Reply

      • Avatar

        Me

        |

        Yeah, and probably, err most likely nothing to do with the cash cow behind it err something :-*

        Reply

        • Avatar

          steve

          |

          Silly me thinking the global emissions trading market was worth 2 Trillion bucks – meant anything…..

          Tsk

          Reply

  • Avatar

    Amber

    |

    The only real “tragedy on the horizon ” is the continued employment of Carney if he pumps the overblown global warming scam .
    You get the feeling we are watching an orchestrated play to create as much hype as possible before the big Paris save the planet bash .
    Like a sold out traveling carnie show ,Paris is the big tent where $$Billions in fake promissory notes are handed out .

    Maybe this is just quantitative easing ,version 3 , rebranded .

    Clearly when bankers ,politicians , and the Pope sing from the same song sheet the rest of us better hang on to our wallets.

    Reply

  • Avatar

    Amber

    |

    Why is Carney chirping now ? Why would he be using his soap box to promote scary global warming as the “tragedy on the horizon “? What mouse words from a banker with absolutely no
    supporting scientific evidence to back up his hot air .
    Stick to banking Carney .

    Reply

  • Avatar

    Amber

    |

    The global warming scam is Enron on steroids .
    Carney’s previous employers and other traders would no doubt like some of the action from the $$trillion dollar global warming/wealth redistribution business .

    The real “conversation ” is about ensuring the vested interests get their fair share of the pie. The ground work is being laid . Expect a bankers pile on in the very near future .
    Oh and by the way, you scientists thanks but your task is now over .

    Reply

    • Avatar

      steve

      |

      I guess this slams home the point that the Establishment is championing global communism via CAGW…..

      Reply

  • Avatar

    Mike Lowe

    |

    I think Mr. and Mrs. Carney are the tragedies on the horizon, not the non-existent global warming!

    Reply

Leave a comment

No Trackbacks.