Taxocalypse Now: The $2.4 Trillion Climate Change Cash Grab

global climate

EDITOR'S NOTES

So, the latest from the climate change front is that the world apparently needs a cool $2.4 trillion a year to tackle global warming. That’s right, trillion with a ‘T’. While the COP28 summit participants were busy discussing how to spend these trillions, Barbados’ Prime Minister suggested new ‘green’ taxes to foot the bill. Think a little tax on financial services here, a pinch on oil and gas profits there. It’s like a global bake sale, except instead of cookies, the “climate crazies” are selling taxes. And your wallet is the main ingredient!

Global warming grifters at the COP28 climate summit were focused on phasing out petrol vehicles and fossil fuel power plants. 

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They were met with a differing perspective when Sultan Al Jaber, the president of COP28, said there was "no science" supporting the idea that eliminating fossil fuels will curb global warming. 

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Jaber's comment is a welcoming sign. However, that did not stop discussions from other attendees who discussed the need for billions of dollars, if not trillions, in 'green' tech investment by developed countries to defeat climate change. 

Coinciding with COP28, Reuters said a new report was published that estimated developed and emerging countries would need a whopping $2.4 trillion a year to cap emissions. 

"The world is not on track to realize the goals of the Paris Agreement. The reason for this failure is a lack of investment, particularly in emerging market and developing countries outside China," said co-author Nicholas Stern, chair of the Grantham Research Institute on Climate Change and the Environment.

Stern said, "The central challenge is to accelerate and implement the fostering and financing of this investment from a range of sources."

In a news conference, Barbados Prime Minister Mia Mottley, a leading figure in global discussions about mobilizing climate finance, urged countries to increase climate spending and even consider adding new green taxes to boost climate funding.  

Mottley suggested that a worldwide 0.1% tax on financial services could generate $420 billion, while a 5% tax on the 2022 global oil and gas industry profits would have produced $200 billion.

"The planet needs global governance not in a big stick way, but in a simple way of us cooperating with each other to be able to work with the institutions that we have," she added.

The climate change swindle is nothing new, as elites have ripped off taxpayers around the world for decades. 

Source: ZeroHedge

It comes as the latest green bubble is imploding under the weight of high interest rates, elevated inflation, and waning demand. 

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And how convenient COP28 is located in the Saharan Desert. Meanwhile, in Germany...

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And Europe... 

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Some elites who push climate doom fail to admit El Nino has been responsible for drought and heat worldwide this past summer. 

In August, a total of 1,609 scientists and professionals from around the world signed the declaration dismissing the existence of a climate crisis and insisting that carbon dioxide is beneficial to Earth. 

 

Originally published by: Tyler Durden on ZeroHedge

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