Monday, June 9, 2008

G-8 Energy Ministers: Hatch a plan to make it worse

So the G-8 got together and invited Russia, China, and India to talk about world energy demands, production and the soaring prices of the last 6 years. Their conclusion? We need SPECTRE Industries to build us 45 trillion dollars worth of Carbon Capture and Storage (CCS) units to suck carbon dioxide out of the air. The IEA (International Energy Agency - part of the UN) has determined that even though they can't quantify any cause and effect, it's time to move forward with the plan to make energy and the cost of living a lot more expensive. No one could foresee any unintended consequences with that idea....

Reuters sums up the G-8 energy ministers problem:

Caught between mounting popular discontent at home and the need to invest billions in greener energy to cut world carbon emissions, the G8 ministers offered few new ideas for heads of state to consider at their summit next month.

Not a single mention in the article about nuclear power. Not a single mention that the restrictive EU and US energy development policies that prevents additional energy development. And not a single mention of the huge run up in energy use by China and India. But hey, we have this great plan to make things worse!

The little guy is going to get crushed as these bureaucrats play with these energy markets over the next decade.

And here's the winner for the take home message.

"...but oil prices have carried on rising as investors rush into commodities as a hedge against the dollar's fall and inflation."

"In the end, some ministers conceded they were powerless to fight the flow of financial capital."

Capital is flowing into energy markets because these morons are making it a no-lose proposition - not as a "hedge" to the US dollar. With this logic, the run up in food prices could be seen as a hedge against the end of the Atkins diet instead of the horrible decision to force corn into our gas tanks.

So, they can't do anything positive, but can make things worse? Sounds like a typical UN meeting.

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