Bummer: Silicon Valley Bank Collapsing Could Cause Problems For Climate (scam) Projects

By William Teach March 17, 2023 – 3:00 pm

I suppose most lenders are a little leery of handing out cash like candy at favorable interest rates, expecting it to not be repaid as the projects crash and burn, unlike SVB

Analysis-SVB’s climate tech clients face humbling funding questions

For years Silicon Valley Bank was a lender of choice for climate technology startups keen to tap specialised support for early-stage companies. Post its collapse, they may face higher finance costs wherever they next choose to bank.

The meltdown of the 40-year-old lender triggered days of stressful phone calls for many types of technology firms as they lined up contingency plans for funds, although some calm returned after U.S. authorities stepped in to insure their deposits.

For businesses with an environmental mission, the big question now is whether investor demand to address climate change will continue to help them secure attractive terms, or if less start-up friendly lenders prove tougher partners as the broader banking system shudders.

At the start of 2022, SVB pledged to provide at least $5 billion in financing by 2027 to support sustainability efforts in industries including green buildings, renewable energy and water technology – seen as growth markets as the world shifts away from fossil fuels.

Would have been nice to have that money available after all the questionable decisions, like the huge amount of money in Treasury bonds which were annihilated with the rising interest rates, eh?

A number of startup executives and their VC backers, including Michael Sonnenfeldt, Chairman of MUUS Climate Partners, said the bank’s collapse could lead to more difficult borrowing terms for their young industry.

The chillier financing climes, already in play as interest rates rose, would be particularly acute for companies looking to spend big as they scale, for example on building infrastructure.

Equity valuations could be impaired between 5% to 50% over the coming year, Sonnenfeldt said, but the wide range shows the uncertainty of the situation: “We don’t know how bad it will, but it won’t be good,” he said.

Those startups will now have to prove the viability of their projects to get the loans, because most want a return on their investment. Most banks want to be repaid. They do not want to invest in projects that will never make money.

However, finance firm Alantra said it expects the bank sector’s challenges to prompt venture capital lenders to focus more on quality firms that can scale and be capital efficient.

“At a minimum, this will likely drive continued tightening of investments and a push to have their portfolio companies cut (cash) burn,” it said in a note.

How did housing work out when lenders were giving loans to people who really couldn’t afford them?

Mona Dajani, partner at law firm Shearman and Sterling, said most of her clean energy clients either banked with SVB or faced some other impact from its troubles. SVB “cultivated a reputation as being very friendly to clean energy… they were willing to underwrite more risk,” she said.

This is what happens when lenders are more interested in ESG (environmental, social, governance) than making wise decisions. Yes, other banks have tanked before over other issues, but, it almost always comes down to poor financial decisions. And ESG is being run poorly.

Unfortunately, there’s always government to give out crummy “loans”.

Read: Bummer: Silicon Valley Bank Collapsing Could Cause Problems For Climate (scam) Projects »

Posted in AGW Socialism, Economy, Global Warming | 3 Comments | Trackback URL

If All You See…

By William Teach March 17, 2023 – 1:00 pm

…is a world flooded from all the glaciers melting because Other People drove fossil fueled boats, you might just be a Warmist

The blog of the day is JoNova, with a post on how many voters think ‘climate change’ is a religion.

Read: If All You See… »

Posted in If All You See | 4 Comments | Trackback URL

Democrats Warren, Menendez Want New Merchant Category For Gun Sales

By William Teach March 17, 2023 – 10:30 am

Elizabeth Warren and Bob Menendez are duly elected lawmakers, right? Shouldn’t it be their job to pass legislation, rather than asking the Executive Branch to make a new regulation?

US Senators Menendez, Warren urge regulators to support new gun sale code

U.S. Senators Bob Menendez and Elizabeth Warren on Wednesday called on federal regulators to issue guidance to speed the adoption of a new merchant category code (MCC) by payment networks to identify firearms sellers.

The letter will add fuel to a debate over the new codes, approved by the Geneva-based International Organization for Standardization (ISO) in September to help detect suspicious firearms and ammunition sales to combat gun violence.

Their implementation was paused by major payment networks including Visa Inc and Mastercard Inc last week. The companies cited opposition from Republican politicians working to pass state laws to limit the codes’ use. The Republicans say the codes could be used to improperly track gun purchases.

The MCC would identify the type of store where a consumer shopped, though not the individual items they bought.

The code would not be used to identify firearms sellers, because few are going to be selling weapons illegally while using credit/debit cards. It would be used to track citizens who legally purchase firearms legally, with that data essentially going to government. This is government tracking your lawful purchases.

In a letter seen by Reuters the two senators, longtime supporters of gun-control efforts, and other Democrats called on U.S. Treasury Secretary Janet Yellen and Attorney General Merrick Garland to “quickly publish any policy advisory, enforcement guidance, and other materials needed by financial institutions, retailers, and law enforcement as the new MCC code is implemented for gun and ammunition stores.”

The letter noted reports that mass shooters had used credit or debit cards to buy the guns and ammunition they used.

Yes, they purchased them legally. What would tracking purchases do? It would not have stopped the wackjobs, but, it would let government know what firearms you purchased if they decide to come after them. It’s about compiling a database. And you know that this will also track ammunition purchases. What will happen, if the credit card companies comply, is that law abiding citizens will simply pay with cash.

Implementing this code will do virtually nothing to reduce people using firearms illegally. It won’t stop the gangbangers in Chicago, it won’t stop the people shooting each other over being “disrespected”, and it won’t even stop a wackjob planning on a mass shooting. This is a backdoor registration scheme for the law abiding.

Read: Democrats Warren, Menendez Want New Merchant Category For Gun Sales »

Posted in 2nd Amendment, Democrats | 3 Comments | Trackback URL

Brandon Admin Really Doesn’t Want Supreme Court To Take Up Hotcoldwetdry Case Against Oil Companies

By William Teach March 17, 2023 – 7:15 am

I still maintain that fossil fuels companies that are sued by governments at any level should refuse to sell their products to those governments. Or, at the very least, publish how much those governments purchase

Biden administration tells Supreme Court Big Oil climate cases belong in state court

A lawsuit filed by several Colorado municipalities accusing ExxonMobil Corp and Suncor Energy Inc. of exacerbating climate change belongs in state court where it was filed, the Biden administration told the U.S. Supreme Court on Thursday.

The administration urged the justices to reject the oil companies’ petition for review of a February 2022 appeals court’s ruling that sent the case back to state court, a venue generally considered more favorable to the municipal plaintiffs.

The Denver-based 10th U.S. Circuit Court of Appeals remanded the case after concluding that none of the grounds cited by the companies to change the venue supported giving federal courts jurisdiction.

The venue question is a key point of contention in roughly two dozen lawsuits filed by states and municipalities against major oil companies alleging they concealed and misrepresented the dangers associated with burning fossil fuels.

The oil companies maintain that their operations make these cases a federal matter. On one hand, I would say most suits need to be at the state level, there’s too much federal involvement. However, you do have to consider that the products being sold are crossing state lines, which would then involve the federal government via the Commerce clause.

The case, if the Supreme Court elects to take it, would give the high court a second chance to clarify whether state or federal courts should hear the lawsuits filed by states and local governments, including Honolulu, Baltimore, and the states of Rhode Island and Delaware.

The Supreme Court first considered the jurisdiction question in 2021 in case brought by the city of Baltimore. It issued a narrow ruling telling the 4th U.S. Circuit Court of Appeals to reconsider arguments for removal raised by the oil companies in that case, but didn’t weigh in directly on which courts were proper.

What’s the endgame of Biden trying to tell the Court to not take the case? Obviously, the courts in Colorado would be rather liberal and could easily rule against the companies, regardless of state law. It could take many, many years before the cases could end up back in front of the Supreme Court if they do not take it now.

I’m wondering how those municipalities would operate without fossil fuels. How do the cities in Boulder County and the county itself clear all the snow from the roads? Run police and fire? Pick up garbage? Deal with all the tourists?

Read: Brandon Admin Really Doesn’t Want Supreme Court To Take Up Hotcoldwetdry Case Against Oil Companies »

Posted in Global Warming, Joe Biden | Comments Off on Brandon Admin Really Doesn’t Want Supreme Court To Take Up Hotcoldwetdry Case Against Oil Companies | Trackback URL

DeSantis Is Correct On Ukraine, Especially As Lunatics Keep Trying To Start WWIII

By William Teach March 17, 2023 – 7:00 am

Can we call them bipartisan warmongers? There’s certainly a smattering on all sides who are pushing to keep giving more and more to Ukraine

Russia Wants a Long War
The West Needs to Send Ukraine More Arms, More Quickly

U.S. President Joe Biden’s historic visit to Kyiv days before the one-year anniversary of Russia’s full-scale invasion of Ukraine sent an important message to Ukrainians and, indeed, to Russians. “Ukraine will never be a victory for Russia,” Biden proclaimed, adding that the United States will support Ukraine “as long as it takes.” Indeed, “as long as it takes” has become the new talking point for Ukraine’s allies, repeated by French President Emmanuel Macron and German Chancellor Olaf Scholz. But “as long as it takes” also signals to many Ukrainians that the allies expect the war to drag on for years, with Ukraine bearing the brunt of it. And they are right: even as the United States and its allies have sent billions of dollars’ worth of military equipment to Ukraine, there remains one thing they seem unable to supply: a clear, united commitment to a rapid Ukrainian victory. Unless the United States wants to find itself embroiled in another forever war, on terms that very much suit Russian President Vladimir Putin, it’s time for that to change. (snip)

By the same token, nothing is exactly on the table, either. This ambiguity has resulted in a Western policy of incrementalism, setting the United States and Ukraine’s other allies up for a protracted conflict. This approach is encouraging Putin to believe that time is on his side and that the United States will eventually tire, as it did in Afghanistan, especially as political winds shift with a U.S. presidential election on the horizon. The policy, while ostensibly seeking to avoid escalation, is laying the ground for something far more dangerous for the United States and its allies: a potential Russian win.

So, basically, send more and bigger weapons right now. And they never really come to a realistic conclusion of what Putin would do. Or, they’re just ignoring that this could very easily start WWIII. I just do not understand this mindset. It’s not like sending lots of arms to Great Britain early in WWII, which then saw the U.S. dragged in. Russia has nuclear weapons. Then you have China in the wings, who could take advantage. And Iran and North Korea.

From the link

Ron DeSantis came out against our current blank check n’ hack cliches Ukraine policy, stating the indisputable truth that Ukraine was not a vital US interest worthy of risking World War III with Russia. The next day he was proven right when a Russian SU-27 knocked a US Reaper drone into the Black Sea. Hey, feeding Russians (and Ukrainians) into a meat grinder is all fun and games until we get dragged into the abattoir too. Of course, all the right people got really mad about it – when Bill Kristol, Adam Kinzinger, David French, Max Boot and Mitt Romney are all for something, you need to be against it. Hardest hit was the GOP establishment – it was very sad because the governor refuses to be dragged along into cheerleading yet another massive foreign policy failure.

Where are all the left wing anti-war groups and folks? The Democrat elites are cheerleading the continuous funding and escalation, even lunatics like AOC. Kurt Schlichter continues

Americans are not pacifists, but they are sick of failure, and that’s what Ukraine is looking to become. Most Americans feel that Ukraine is corrupt, which it totally is – I saw it personally. They feel sympathy for the Ukrainians, as do I (I trained Ukrainian soldiers in Ukraine for the Army). And they agree with DeSantis that this territorial dispute – which it is – is not a vital American interest that overcomes other priorities and that is worth endless treasure and maybe even blood. We generally hope Ukraine wins, but this is not our fight. Nor is the war likely to spread to NATO countries where we have treaty obligations – the idea that we need to retake Crimea so the Russians don’t show up in Berlin, much less London, is ridiculous. Americans are not prepared to put up with this conflict forever, but forever wars that culminate in embassy helicopter evacuations and people falling off C-17s are what the Beltway buffoons do. (snip)

DeSantis has taken the smart strategic position and the smart political position. He has shown leadership, because the American people will soon come to be where he is now, and they will do so around the time when the election gets into high gear.

I think people are really getting there already. I can’t speak for you, but, I’m seeing a pretty big smattering of people in Real Life with very different political beliefs opting out. They do not want all this money given to Ukraine, nor all the arms, and definitely not an escalation. As Schlichter notes later, there is no coherent strategy by the U.S., and people see this. It’s just not worth risking WWIII for Ukraine.

Read: DeSantis Is Correct On Ukraine, Especially As Lunatics Keep Trying To Start WWIII »

Posted in Current Affairs | 28 Comments | Trackback URL

Climate Scam Today: Schools, Small Business, And Snow

By William Teach March 16, 2023 – 3:00 pm

“Experts” totally want your kids controlled even more in schools

How can we shield children from the impacts of climate change? Investments in schools can help.

As a pediatrician in California, Dr. Lisa Patel has seen firsthand how climate change is impacting children. She’s treated severely dehydrated newborns, children whose asthma was exacerbated by wildfires, and heat-related illnesses brought on by sports games and practices.

Those are some of the reasons that prompted Patel to co-author a recently released report pushing to make schools in California more resilient to climate change.

“We are just at a point where we can’t fix every part of our society as quickly as we need to to keep kids safe,” said Patel, who is also a clinical associate professor at Stanford University. “We need to be targeted, and, after their homes, kids spend the second most [amount of] time in their schools.”

The report, compiled by researchers, advocates and medical professionals, argues that not investing in schools hurts children from both a public health and an education standpoint, with climate change bringing added urgency.

First off, the amount that the U.S. spends on schools (with low return) is massive, at the federal, state, county, and local levels. But, they want to spend more? For what? Indoctrinating children more, making them even more fearful of Doom? Second, how do they Blame severely dehydrated newborns on ‘climate change’, and not neglect from the parents? Third, this is more about making the schools more of the kids’ parents than the parents, like these moonbats have been trying along other lines. 4th, how do we shield kids? Take the climate insanity out of schools, stop teaching them loony tunes stuff.

Comment: We’ll only beat climate change if we help small businesses cut emissions ? and fast

Climate change is no longer a distant threat. It is a living reality affecting societies, businesses of all sizes and ? foremost ? people. Big businesses are serious about tackling climate change. Net zero, sustainability and ESG (environmental, social and governance issues) have become mainstream business strategy for multinationals, many of which are now figuring out how to deliver on their climate commitments.

However, leaders of small- and medium-sized businesses (SMEs), who care just as deeply about the climate, often cannot prioritise climate action due to more pressing issues, like rising energy costs and inflation.

This really is all about forcing the climate insanity on medium and small businesses, and, for those who refuse to comply, either force them to close or get the government to regulate them more.

How winter storms and other extreme weather are connected to climate change

Parts of Minnesota are once again bracing for a winter storm watch starting on Thursday and it’s been a year of unusual and extreme winter weather.

This winter is already the 8th snowiest winter on record in the Twin Cities and it’s only March.

And, they’re blaming this on you. It’s your fault. Because this is a doomsday cult. Scientology looks more sane. At least they’re not trying to force everyone to be a part of their cult.

Read: Climate Scam Today: Schools, Small Business, And Snow »

Posted in Climate Cult, Global Warming | 4 Comments | Trackback URL

If All You See…

By William Teach March 16, 2023 – 1:00 pm

…is what looks like a tropical plant growing in northern latitudes, you might just be a Warmist

The blog of the day is Green Jihad, with a post on the climate Nazis still coming for your gas stoves.

Read: If All You See… »

Posted in If All You See | 8 Comments | Trackback URL

Biden Admin Makes Toothless Threat To China Over Stake In TikTok

By William Teach March 16, 2023 – 10:30 am

Does anyone besides the Biden admin think China is in any way worried or concerned over this? Or that China will even pay attention to Biden’s ramblings?

Biden administration threatens to ban TikTok if Chinese parent company doesn’t sell stakes

The Biden administration has demanded the Chinese owners of TikTok sell their stakes in the  social media app or risk a possible ban in the U.S., the company told The Hill on Wednesday.

The Wall Street Journal first reported that the U.S. Treasury-led Committee on Foreign Investment in the United States (CFIUS) made the push. TikTok confirmed it had heard from CFIUS and said it did not dispute the reporting.

The CFIUS demand comes amid security concerns about the video-sharing app, which is owned by China-based parent company ByteDance — specifically, that the Chinese government could gain access to American user data.

Congress has been increasingly scrutinizing TikTok and talking about a potential ban — and Republicans have knocked the Biden administration for not taking action on the perceived threat.

Even if the Chinese government sold their stake, it wouldn’t make a difference, because the data would still be fed to them. What should be happening, to start, is that all federal employees should be banned from having TikTok on their government issued phones, tablets, and computers. The backend software should restrict the access of TikTok, in the same way it blocks other websites. The same as private corporations block lots of websites.

From there, a ban on it in total could be debated. Because it is free choice for private citizens if they want to expose their own data to China.

Read: Biden Admin Makes Toothless Threat To China Over Stake In TikTok »

Posted in Joe Biden, Web/Tech | 3 Comments | Trackback URL

School Feeds Kids Insects To Teach Them About Climate Crisis (scam)

By William Teach March 16, 2023 – 7:48 am

Well, at least they didn’t do it with the teachers and kids dressed in drag, right?

Utah school gives kids ‘disgusting’ insects to eat in class for climate assignment on cows killing the Earth

A middle school in Utah’s Nebo School District gave sixth-grade students “disgusting” insects to eat last week as part of an English assignment on climate change, claiming it would save the environment from cows which were “killing the world,” according to a mom who spoke with Fox News Digital.

“Middle schoolers loved the ‘ewww’ factor, many of them gave bugs a try (and even a few staff members!). Many thanks to our English teachers for creating fun and engaging lessons,” the Spring Canyon Middle school said about the March 7 assignment.

Bugs were purchased from a commercial site that is “safe for consumption,” the district said.

The mother of one of the students – Amanda Wright – told Fox News she believed the kids were being subjected to “indoctrination” into a “dark climate change religion.” She challenged the school’s principal Alison Hansen on the assignment after her daughter found it uncomfortable.

The climate change assignment instructed sixth-graders to write an argumentative essay, but did not permit students to disagree. The only acceptable answer was that humans should eat insects for their protein instead of cows, which are destroying the Ozone layer with methane gas.

Is it any wonder that the kiddies are having mental health issues while being forcibly indoctrinated into the Belief that the world is doomed soon? This is child abuse. State sanctioned child abuse.

Read: School Feeds Kids Insects To Teach Them About Climate Crisis (scam) »

Posted in AGW Idiocy, Global Warming | 20 Comments | Trackback URL

Good News: Putin Is Preparing For A Nuclear Showdown

By William Teach March 16, 2023 – 7:36 am

For all the articles and missives saying Putin is sick, he’s got mental illness, etc, perhaps the people pushing to get even more involved with the Ukraine war should rethink their positions

Putin is preparing for a nuclear showdown – we must be ready

Russia downing a US drone yesterday was a deliberate provocation. It is a concerning incident, but such brinkmanship feels destined to get worse. It is small fry compared to where things could go if we are not prepared.

Putin is in a corner, his position weakening every day as western tanks start to appear over the horizon and Zelensky’s spring offensive approaches. The great Russian push in eastern Ukraine appears to be petering out at massive human cost to the aggressors. Last weeks’ huge volley of missiles, including the much-vaunted ‘unstoppable’ hypersonic ones, have passed with a whimper, and sanctions are at last sending the Russian economy into freefall.

The Ukrainians intend to kick Russian troops out of eastern Ukraine but also the Crimea. Doing so would no doubt signal the end of Putin’s rule. But it would mark a dangerous moment. The dictator has relished repeating in public the story about his youth in Leningrad when he watched a cornered rat fight back. For years, the Kremlin has assiduously curated Putin’s image as a ruthless former KGB officer who is not afraid to take bold action to defend the Motherland, especially when facing off against the combined forces of the West.

Western audiences have largely fallen for this narrative. The reality is much more nuanced. Putin is far more rational and calculating than many of his opponents give him credit for. He has a nose for weakness, including for his own fragility, but it is not infallible. He is fond of the good life. As Garry Kasparov pointed out, ‘Putin wants to rule like Stalin but live like Abramovich’.

Yes, he does have a nose for weakness, which is why he took Crimea during the Obama-Biden years, and went into Ukraine during the Biden presidency.

In our study for the Heritage Foundation, we argue that there is another area where Western audiences have oversimplified the reality of Putin’s abilities – specifically on the nuclear question. We argue that the threat of Russian use of nuclear weapons is primarily a tactic to scare selected Western audiences, and thus weaken the link between Ukraine and its Western allies. Those who believe that the Russians themselves view them as conventional weapons of war are incorrect.

Even so, we cannot be sure that Russia will not use nuclear weapons as a ‘last resort’ in Ukraine. The Kremlin has laid the linguistic framework for their use. There are four circumstances in Russia’s latest nuclear doctrine which can justify nuclear weapons deployment: an imminent use of nuclear weapons against Russia, actual nuclear use against Russia, a threat to inhibit Russia’s control of its nuclear weapons, and a threat to the existence of Russia. Whilst none of those conditions apply in the Ukraine war, the notion of “threat” is being re-interpreted by the Russian leadership.

Backing Putin into a corner would be a bad idea. Pumping high end weapons like fighter jets into Ukraine is a bad idea. It would be directly engaging Putin from the West. But

Putin’s dreams of Ukraine re-incorporated into Russia, of breaking up Nato, and of Russia leading a global anti-Western alliance are collapsing about him. Disaster for Russia’s imploding armed forces may well await, and at some point, Ukraine’s armed forces will likely threaten to break Russia’s land corridor linking Crimea to the Donbas. At that point, Putin will make one of the most fateful decisions of the century: whether to employ nuclear or chemical weapons. The U.S. and UK must act now to minimise that threat and to ensure the protection of the American and British publics and allies.

So, the authors, Col Hamish de Bretton-Gordon OBE, a former commander of the 1st Royal Tank Regiment and Bob Seely, a Conservative MP for the Isle of Wight, seemed to be making the argument that the West should be very, very careful in its support for Ukraine, then push for the US and UK to act, saying Western governments should

First, they must reassure the public that they are aware of the threat of Russian nuclear weapons in extremis. Nuclear threats are not mere bluff.

Second…The US and its allies should improve how they detect and monitor radiation in case of nuclear use, a missile strike on a nuclear facility, or an accident stemming from a nuclear plant located in an area of military operations.

Thirdly, ensure that any use of tactical nuclear weapons by Russia is met by a robust Western and global response that is calibrated, relies on conventional weapons, and is informed by an understanding of Russian behaviour and thinking.

Fourth, we need to keep channels of communication with Moscow open, even if the Kremlin is not responsive.

Are you reassured?

Read: Good News: Putin Is Preparing For A Nuclear Showdown »

Posted in Current Affairs | 6 Comments | Trackback URL
Pirate's Cove