Jamie Dimon Says “We’re Getting Energy Completely Wrong” And He’s Right

Authored by Mike Shedlock via MishTlak.com,

Let’s tune into a video Tweet featuring Chase CEO Jamie Dimon…

Transition to Where, When?

We are entering a period in human history, where for the first time, we are attempting to transition to a less dense form of energy. I suspect in the long run this will reverse course but not before a lot of pain

— Trading Chicken #FJB (@chickenfeast) October 27, 2022

“We are getting energy completely wrong and it’s made the environment worse.”

Eventually, we will transition because we have to. But not as fast as expected, and certainly not without pain. 

Meanwhile, policy missteps by the US, EU, and California made the transition worse. 

California’s 2020 Wildfires Negated Years of Emission Cuts

The Scientific American reports California’s 2020 Wildfires Negated Years of Emission Cuts

Carbon pollution from California’s 2020 wildfires erased 16 years of the state’s greenhouse gas emission cuts, according to a new UCLA study.

The fires were the state’s most destructive on record, burning 4.2 million acres, killing dozens of people and destroying thousands of homes. The study—published in Environmental Pollution—adds another statistic: the fires released roughly 127 million megatons of greenhouse gas emissions, or about twice California’s total emission cuts from 2003 to 2019.

“What happened in 2020 was basically like a new sector; a new sector of emissions just came out of nowhere,” said study co-author Amir Jina, a University of Chicago professor. The wildfire emissions were “almost as big as their main emission sector, which is transport.”

If those trees grow back over several decades, they could absorb the carbon released from the fires, he said. But that’s not guaranteed, he said, and in the meantime, those emissions will contribute to climate change.

California would have done far more for the environment by spending money to remove dead trees instead of all the gas taxes, environmental mandates, and other economic nonsense it did do. 

And that does not even factor in the loss of property and lives. 

Finally, it’s all irrelevant unless China and the developing nations turn away from coal. 

I don’t agree with Jamie Dimon about much. But yeah, Dimon is right about this.

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