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Page added on May 30, 2017

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This Is One of the Most Worrying Signs of Economic Collapse

Falling Oil Prices Is a Warning Sign to Investors of an Economic Collapse in 2017

Oil can’t seem to hold its price this year. Whenever it crosses the $50.00/barrel mark, it falls back a dollar or two. This might be good for drivers when they fill up at the pump, but it’s not a good sign for the economy. It’s a symptom of lack of demand, and thus, economic collapse in 2017 or 2018.

Not long ago, in the 1970s and 1980s, higher oil prices would drive up inflation and were seen as hampering growth. Then again, a few decades ago, oil production was concentrated in a handful of mostly North African and Middle Eastern countries. There were few alternatives to hydrocarbon energy resources then and the 20th century economic model was founded on the availability of cheap petroleum. It was used to fuel your car and make the plastic cups from which you drank.

But nowadays, there are credible alternatives to oil. Today, a low oil price doesn’t even produce the kinds of savings at the pump to make much difference. Most people around the world drive highly fuel-efficient vehicles. Electronics have produced great efficiency benefits. In turn, new mining and extracting methods have allowed oil companies to find more oil and get it out more cheaply.

Thus, overall demand has dropped, considering the increase in supply. In the 1970s, the idea of peak oil, or a limited supply of this resource, helped convince people that it was scarce. Scarcity meant those who controlled oil could charge whatever they wanted. All that has changed now. Peak oil has been replaced by “climate change” as the harbinger of energy/industry catastrophe. Thus, the only thing left as a tool to raise prices is a major increase in demand.

None of the world’s advanced economies have shown real growth. Stock markets are operating on an overdeveloped sense of optimism, which will soon end in a massive 1929- or 2008-style market collapse and financial crash. It will happen when bullish investors, who have been pumping the market caps of some truly questionable propositions (Snap Inc (NYSE:SNAP), anyone?) wake up and smell the bitter coffee. Just look at the U.S. jobs growth rate. It hasn’t recovered in a real sense, thus why should oil prices go up?

job growth

There are new tech, housing, and overall—personal and public—debt bubbles just waiting explode. Thus, falling oil prices reflect the fact that the real world works differently than the markets. It’s only a matter of time until the two catch up. Falling oil prices point to economic collapse.

Investors appear to be convinced the new dynamics of the oil price has not escaped their attention. There is a creepy nervousness that exudes from the markets. Probably none of the traders, and those who choose to invest in raw materials, received the adequate training to manage similar dynamics.

Last year, in August 2016, oil futures fell below $40.00 a barrel. The negative phase was supposed to have stopped after OPEC agreed to production cuts in the fall of 2016. Oil would hit $60.00 in 2017, they said. Well, so far it has not. More alarmingly, oil prices can barely hold on to $50.00/barrel before falling to the $47.00-48.00 range.

Oil Is Going Down, But What About Gold?

Some might say that gold hasn’t moved up much either. Gold, however, did make significant gains in the wake of Trump’s political crisis. The U.S. President’s trip abroad—to Saudi Arabia, Israel, Belgium, and Italy—has dampened the effects of the crisis, but there’s no telling where it could lead once he gets back to Washington. That said, a political crisis in the U.S. and a major terrorist attack in Europe are the kinds of events that used to push oil prices up.

Instead, oil prices are down. And the fact is, if oil prices did make a significant move, the overall ability of most middle-class Americans to sustain the increase is questionable. Adding $50.00-$100.00 more in gasoline/fuel expenses—let alone home gas etc.—would add much stress on families who are but a sudden car or home repair away from financial breakdown. And these are the families with members earning a middle-class income.

If the oil price drops sharply, it’s because the world economy is no longer safe. The lack of certainty about Trump’s fiscal and economic policies is fueling some nervousness. The impression is that the market no longer trusts the simple words of the American president who, on more than one occasion, promised a change of historical route and now claims a diametrically opposite one. The most obvious reason for lower oil prices is that the overall health of the world economy is at risk.

lombardiletter



65 Comments on "This Is One of the Most Worrying Signs of Economic Collapse"

  1. observerbrb on Tue, 30th May 2017 4:12 pm 

    The Hills Group is right again.

  2. makati1 on Tue, 30th May 2017 6:46 pm 

    Watching the collapse of America is the best show on the internet. The sooner the better for the rest of the world. It will hit the wealthy more than the serfs. When you are poor, you are used to doing with less and making the best of the situation. If your wealth is in things of no survival value, and you are used to the best …

  3. Sissyfuss on Tue, 30th May 2017 6:57 pm 

    A foundational finite commodity, an ever growing population, a grasping by the multitudes to raise their standard of living,and a million Madoffs plying their trade. Do the math and then duck.

  4. DerHundistlos on Wed, 31st May 2017 1:25 am 

    Siss: B-I-N-G-O

  5. Jan on Wed, 31st May 2017 3:12 am 

    There may well be bubbles in debt and housing. This has nothing to do with oil prices at the moment.

    World oil demand is higher than last year.

    https://www.iea.org/oilmarketreport/omrpublic/

    Recently Iranian sanctions have been lifted, leading to more production in an already over supplied market.

    https://www.bloomberg.com/news/articles/2017-03-07/iran-s-crude-oil-exports-increase-to-level-last-seen-in-1970s

    Also ISIS are being driven away from all the oil producing regions allowing for an increased in Iraq oil production.

    http://oilprice.com/Energy/Crude-Oil/Iran-And-Iraq-To-Ramp-Up-Oil-Production-Despite-OPEC-Cuts.html

    U.S. shale oil is on the rebound.

    Global oil stock are at an all time high.

    These are the reasons why oil prices are not going any higher.

  6. BigMind on Wed, 31st May 2017 6:25 am 

    Does it not seem there is worldwide collusion to keep oil around $50? And that the OPEC thing is just kabuki theatre?

  7. Plantagenet on Wed, 31st May 2017 8:03 am 

    The price of oil is low because we’re in an oil glut.

    Cheers!

  8. Outcast_Searcher on Wed, 31st May 2017 10:11 am 

    I second what Plant said.

    The facts make that clear.

    The idea that people in first world countries can’t afford oil based products at roughly half of what they cost in 2010 – 2014, with the global economy continuing to grow every year since 2009 is completely absurd. And the idea that people can’t afford such products generally is absurd, since the global demand for oil has steadily grown (as usual) every year since the 2009 deep global recession.

    Finally, observerb, the only thing the Hills Group does is put out doomer talk to try to sell its “information” to doomer types. They ignore basic economics and are wrong on their data. In the real world, we don’t call this “being right”. But I know, your ilk is immune to things like real world data points if they conflict with the short term doomer meme.

  9. GregT on Wed, 31st May 2017 11:21 am 

    “I second what Plant said.”

    Oil prices are not low. The facts make that clear.

    http://www.macrotrends.net/1369/crude-oil-price-history-chart

    “The idea that people in first world countries can’t afford oil based products at roughly half of what they cost in 2010 – 2014, with the global economy continuing to grow every year since 2009 is completely absurd.”

    The idea that US federal debt alone, has increased by 10 Trillion dollars since 2008, is not absurd. It is reality. When one continues to go further and further into debt, he is living beyond his means, and cannot afford to do so forever. The world still has not recovered from the 2009 “global deep recession”, and will not do so until oil prices drop back to affordable levels, which they will never do because cheap affordable oil is no longer abundant.

    Being ignorant of reality, does not make it go away.

  10. ALCIADA-MOLE on Wed, 31st May 2017 11:32 am 

    @GregT the US went to debt because shooting people alone doesn’t work so u have to buy them. Orange draft dodger will fail too so he will line his and his friends pockets and borrow more to buy people.

    It’s a slighly better way to go for adherents of government system. With Putin he kills people and invade countries and the people of Russia get nothing.

  11. GregT on Wed, 31st May 2017 12:18 pm 

    “the US went to debt because shooting people alone doesn’t work so u have to buy them.”

    A big portion of US debt was incurred from invading other countries and “shooting” people.

    “With Putin he kills people and invade countries ”

    And which countries would those be, CIA Mole?

  12. shortonoil on Wed, 31st May 2017 1:16 pm 

    “World oil demand is higher than last year.”

    That is not surprising as it takes petroleum to produce almost anything; including petroleum. In 2016 it took 2.4% more petroleum to produce the same barrel of products as it took in 2015. That was about 2.3 mb/d more than 2015, so of course “demand” is going up. Unfortunately, net deliverable energy isn’t. Getting quantity of volume mixed up with quantity of energy is likely to produce some strange results. In this case the economy is getting apples when they really wanted oranges.

    http://thehillsgroup.thehillsgroup.info/p/040217refinery-yieldsthe-et-model-is.html

  13. Lupe delgadillo on Wed, 31st May 2017 1:24 pm 

    All share the wealth or share the pain☻☹

  14. makati1 on Wed, 31st May 2017 6:52 pm 

    ALCIADA-MOLE: “With Putin he kills people and invade countries and the people of Russia get nothing.”

    SHOULD READ: “With the U$ killing people and invading countries, the people of America get nothing (but the bill).”

    There! Fixed it for you. You are too addicted to that U$ Koolaid. It warps your mind and blinds you to reality.

  15. Hubert on Thu, 1st Jun 2017 11:16 am 

    We’re in a middle of a major collapse. Only an idiot wouldn’t understand that.

  16. Cloggie on Thu, 1st Jun 2017 11:47 am 

    We’re in a middle of a major collapse. Only an idiot wouldn’t understand that.

    Who is “we”?

  17. GregT on Thu, 1st Jun 2017 1:31 pm 

    Who is “we”?

    We: I and the rest of a group that includes me : you and I : you and I and another or others

  18. Cloggie on Thu, 1st Jun 2017 1:51 pm 

    You say it: “a” group.

    I was curious to know which group he ment…. Americans, Texans, Eskimos, etc.

  19. Cloggie on Thu, 1st Jun 2017 1:55 pm 

    It is official: the US withdraw from the Paris accord.

  20. GregT on Thu, 1st Jun 2017 2:04 pm 

    It’ll become more obvious to you Cloggie, when people begin to talk about alternate forms of energy saving modern industrial society.

  21. Cloggie on Thu, 1st Jun 2017 2:21 pm 

    I’m sure it’s going to be just as bad as with peak oil.

  22. GregT on Thu, 1st Jun 2017 2:27 pm 

    Peak oil will be bad, but not nearly as bad as what burning oil has already baked into the cake.

  23. Sissyfuss on Thu, 1st Jun 2017 3:00 pm 

    Trumpty Dumpty has laid down the gauntlet and we shall now wait for Gaia’s response. It won’t be long.

  24. Davy on Thu, 1st Jun 2017 3:28 pm 

    Sissy, you are telling me the fake Paris Accord mattered? That was just a way for nations to lie to each other that they could do something to save the climate. What I said is not a defence of Trump. I am saying Trump doesn’t matter. Real change is an order of magnitude more than what the Paris Accord would do.

  25. ALCIADA-MOLE on Thu, 1st Jun 2017 3:36 pm 

    @siss I have a hard time to belief that Putin killing opponents and staying in powa for decacdes is an act of love bro.

    I mean China changes leadership every few years.

    I mean Russia is a superpowa and u know there’s no freedom of speech cuz people get kileld bro.

    I think there’s just too much lying in dah word bro.

    I don’t like orange draft dodger but agreement with liars is null and void.

  26. ALCIADA-MOLE on Thu, 1st Jun 2017 3:48 pm 

    i once talked to this catholic bro and i said the church is corrupted and it should be let to die.

    He said “NO”, let’s fix it.

    I don’t think pulling out of agreements is always the best option. It maybe should be fixed because such an agreement involved a lot of times and difficult negotiations.

    But I have to say there are just too many liars. It’s not a good deal.

    That’s all bro.

  27. Cloggie on Thu, 1st Jun 2017 4:24 pm 

    Sissy, you are telling me the fake Paris Accord mattered? That was just a way for nations to lie to each other that they could do something to save the climate. What I said is not a defence of Trump. I am saying Trump doesn’t matter. Real change is an order of magnitude more than what the Paris Accord would do.

    Yes you defend Trump. YOU are fake green. For you “projecting power in the South China Sea” is more important than investing in climate protection.

    http://www.cbc.ca/news/world/paris-agreement-key-climate-points-1.3362500

    1. Limit temperature rise ‘well below’ 2 C
    2. First universal climate agreement
    3. Helping poorer nations
    4. Publishing greenhouse gas reduction targets
    5. Carbon neutral by 2050?

    How is this “fake”?

  28. DerHundistlos on Thu, 1st Jun 2017 4:40 pm 

    Davy, what a pathetic defense of Trump- it won’t make a difference so we might as well not do anything. Yet, you claim to be a real environmentalist.

  29. Davy on Thu, 1st Jun 2017 5:41 pm 

    I am not pretending to be a true green. You are a fake green and think you are true green like much of the rest of the fake green left. I want to be more green and realize I am not green enough. If you think Trump makes a difference one way or another you are in la la land der hund.

  30. Apneaman on Thu, 1st Jun 2017 5:51 pm 

    Davy, the Pairs accord is bunk, but hundreds of millions of humans believe it matters and had faith in it. Now they have no faith in the US and think you no longer matter. It’s all bullshit to me, but the US is not powerful enough to make it without friends. Another big step down in credibility for the US. It might also bring on the pain that much faster and don’t forget that your suffering can be reduced and/or delayed if some of those tax dollars were spent on protecting you and yours from the inevitable consequence that are coming. Already too late for some. I know you have taken steps on your own, but you can’t exactly go and shore up the county flood and fire defenses and other stuff that is doable with a few resources allowed. Big picture – backing out don’t mean shit. Won’t affect the inertia one bit. It’s unstoppable.

    P.S. Trump is still a fucking retard.

  31. Cloggie on Thu, 1st Jun 2017 6:02 pm 

    but the US is not powerful enough to make it without friends.

    What US? One of the most important dissident periodicals, Libertarian Central LewRockwell.com is calling for breaking up the country:

    https://lewrockwell.com/2017/06/martin-armstrong/dont-think-civil-war-possible/

    I for one am starting to lean for the break up of the United States and all the leftists please move to the left of the country and anyone else who wants freedom from these insane people, move to the right… We need to separate or there will be blood in the streets.

  32. Apneaman on Thu, 1st Jun 2017 6:13 pm 

    clog, if anyone knows about not being powerful enough it’s the Dutch. Powerless actually. Defenseless as a baby in a crib and at the mercy of others decisions. You wouldn’t even exist without the Canadians ridding your shit hole of those Nazi scum. As the great global unraveling continues, what are y’all gonna do to protect your country? Go suck-holing to Angela Merkel? The Brits? Do nothing like the last 2 world wars and let real men do the heavy lifting?

  33. Cloggie on Thu, 1st Jun 2017 6:23 pm 

    Oh not again these tired old lies. Canada is a piece of territory without historic profile, a natural born colony of the British, French and now the Americans, where Holland is the founding father of Anglosphere.

    The southern tips of the world continents are called Kaap Hoorn and Kaapstad, the northern limit the Barentszee. Australia began its life as New Holland and the informal capital of the world Nieuw Amsterdam.

    In 20 years time Canada will no longer exist and a Chinese province, you pathetic upstart parvenue heeb idiot.

  34. Sissyfuss on Thu, 1st Jun 2017 6:32 pm 

    Davy, I listen to brilliant minds that tell us it’s too late for any amelioration, that we are all the walking dead. Maybe so. But to listen to the incoherent mutterings of an unevolved mind like Trumps disputing the science and returning us to the dark ages of Reagan-Bush is insanity at the least. We need a world wide change of consciousness back to our natural connections and away from human dominance. The Paris Accords may be voluntary and unenforceable but they were tangible and thought provoking. Look at the attention raised globally on this most primary of issues. We may be doomed no matter what, but we are certainly doomed if nothing changes.

  35. Cloggie on Thu, 1st Jun 2017 6:34 pm 

    https://redice.tv/news/the-great-white-north-no-more-almost-7-in-10-canadian-metro-residents-will-be-non-white-in-two-decades

    Yearly Orange parade Toronto:

    https://youtu.be/5rLdxIo9J_Q

    In 10 years time Anglosphere will have ceased (thanks Siss) to exist and it will be our turn to intervene. America was a mistake that is now going to be corrected. The 6th American century is going to be continental European, regardless of what this fool has to say:

    http://www.newyorker.com/humor/borowitz-report/queen-offers-to-restore-british-rule-over-united-states

  36. Davy on Thu, 1st Jun 2017 7:17 pm 

    DC is retard. This is all inclusive. Focusing on one man is self deception. Blaming and complaining is of little use now except to extract revenge and recrimination.

  37. makati1 on Thu, 1st Jun 2017 8:08 pm 

    Sissy, Davy has no firm ground to stand on as he waves that vanishing flag over the land of the debt slaves. There is no sane government left in America. None. Reps/Dems same cloth and goals. Only the name is different to entertain the serfs. The only way forward is down.

  38. Cloggie on Fri, 2nd Jun 2017 3:25 am 

    Immediate reaction from Europe: Germany, France and Italy condemn Trump’s announcement and reject the possibility of a renegotiation, as demanded by Trump.

    http://www.spiegel.de/wissenschaft/natur/donald-trump-europaeer-lehnen-klimavertrag-neuverhandlung-ab-a-1150361.html

    Share CO2 emissions:

    China 29.5%
    USA 14.3%
    EU 9.6%
    India 6.8%
    Russia 4.9%

    Interesting to note how comparatively little energy the EU needs to generate a GDP comparable to that of the US and China and generate the following external exports (not counting inner trade):

    EU $2.7T
    China $2.0T
    USA $1.5T

    GDP (nominal) / UN
    USA $18.0T
    EU %16.8T
    China %11.2T

    GDP (PPP) / CIA
    China $21.3T
    EU $19.2T
    USA $18.6T

    The decision by Trump to cling on to fossil technologies, gives Europe the excellent opportunity to get a decisive head start over the US in all matters of energy production of the 21st century, with large geopolitical repercussions.

  39. Cloggie on Fri, 2nd Jun 2017 4:18 am 

    Macron – Make our planet great again:

    https://www.youtube.com/watch?v=w7PTwXtmp2E

  40. Davy on Fri, 2nd Jun 2017 4:29 am 

    “The decision by Trump to cling on to fossil technologies, gives Europe the excellent opportunity to get a decisive head start over the US in all matters of energy production of the 21st century, with large geopolitical repercussions.”
    Geeze, look at cloggie trying to talk up his people like they are set to kick ass and take names in the 21st century. You really are drinking the hopium tea. You Euro’s will be lucky to stave off collapse in the 21st century.

    “Interesting to note how comparatively little energy the EU needs to generate a GDP comparable to that of the US and China and generate the following external exports (not counting inner trade)”
    WTF, where did you get your numbers and did you pull your comparison out your ass, cloggie? Did you fabricate them makati style.

    The agreement is flawed. All nations must degrowth drastically and at the same pace. This is not going to happen until the global economy collapses and that is in the works. There is no need for a lying agreement. Typical Europeans and Chinese like lying agreements so that can pat each other on the back. Ask Russia if they are going to be a part of this agreement? They have not ratified it and are still studying it. Where is the whoopla with that? Bunch of friggen losers in this world.
    http://theconversation.com/whats-holding-russia-back-from-ratifying-the-paris-climate-agreement-64842

  41. Davy on Fri, 2nd Jun 2017 4:31 am 

    “Macron – Make our planet great again:”

    By lying and pretending

  42. Davy on Fri, 2nd Jun 2017 4:37 am 

    “BoJ, ECB Balance Sheets Exceed The Fed’s For First Time Ever – What Happens Next?”
    http://tinyurl.com/y75pgsew

    I want to know how this is going to make “Europe Great Again”?
    http://tinyurl.com/ycvqxvk7

  43. Davy on Fri, 2nd Jun 2017 4:43 am 

    “Emmanuel Macron’s Rothschild years make him an easy election target”
    http://tinyurl.com/m4kudbr

    Cloggie, I thought you didn’t like the Rothschild cabal?

  44. Cloggie on Fri, 2nd Jun 2017 4:49 am 

    You Euro’s will be lucky to stave off collapse in the 21st century.

    In your view everything collapses. This is no longer 2005, the world has moved on. Let Heinberg go, in your own interest.

    WTF, where did you get your numbers and did you pull your comparison out your ass, cloggie? Did you fabricate them makati style.

    You really think I make these figures up? Here you have all the sources:

    https://deepresource.wordpress.com/2017/06/02/us-withdraws-from-paris-agreement-on-climate-change/

    Surprised, eh? Face it Davy, America is losing the competition with the rest of the world, begins to lag behind and is no longer a shining city on a hill. (if it ever was).

    How about dismantling that MIC of yours, that you can’t use anyway anymore, without mobilizing the entire world against you. Why do 220 million aging European Americans, burdened with 110 million third worlders, that will demand universal health care and basic income in a next 2020 Zuckerberg presidency, need to outspend the rest of the world?

    Asking the question is answering it. Because Washington loves to continue to think they can have it all.

    They can’t.

    https://www.amazon.com/End-American-Era-Geopolitics-Twenty-first-ebook/dp/B000XUDGTY/ref=sr_1_1

  45. Cloggie on Fri, 2nd Jun 2017 4:53 am 

    Cloggie, I thought you didn’t like the Rothschild cabal?

    I don’t. I do not like Macron or Merkel. They are the Jaruzelki’s and Ceaucescu’s of the US empire and they will be gone in a couple of years when the West faces its own 1989.

    I do like Putin though and I still support the Trump presidency as the best way to dismantle the US empire and encourage the Euro’s to secede from Washington and escape “drowning in the third world”.

  46. Davy on Fri, 2nd Jun 2017 5:08 am 

    Of course China likes the Paris Accord, why wouldn’t they?
    “China and India Will Continue to Increase Oil and Coal Consumption, Paris Agreement Notwithstanding”
    http://tinyurl.com/y6woldxv

    “According to Bloomberg, China’s coal-fired generation capacity may increase by as much as 19 percent over the next five years. While the country has canceled some coal-fired capacity due to lack of demand growth, China still plans to increase its coal-fired power plants to almost 1,100 gigawatts, which is three times the coal-fired capacity of the United States. In the chart below, China’s non-fossil fuels include nuclear, hydroelectric, and renewable energy. China has some of the largest hydroelectric facilities in the world.”
    http://tinyurl.com/yd37dab6
    “Further, China is also building coal-fired plants in other countries such as Kenya and Pakistan. In Lamu, Kenya, a $2 billion, 1050 megawatt, coal-fired power plant—the first of its kind in East Africa—will be financed with Chinese, South African, and Kenyan capital, and be built by the state-owned Power Construction Corporation of China. The plant will power an adjacent 32 berth deep-water port that is part of a plan to transform Kenya into an industrializing, middle-income country by 2030.[ii]”

    “Excluding projects in South Africa, over 100 coal-generating units are in various stages of planning or development in 11 African countries and China is financing about half of them. The combined capacity of the units is 42.5 gigawatts—over eight times the region’s existing coal capacity. While not all are being financed by China, almost all are financed by foreign investment.”

    “Pakistan is committed to building as many as 12 new coal-fired power plants over the next 15 years as part of a large infrastructure investment project that China and its partners are funding. About $33 billion will be spent on 19 energy projects that include coal-fired power plants, transmission lines, and other infrastructure as part of the China-Pakistan Economic Corridor. The majority of the new generating capacity (roughly 75 percent) will come from the new coal plants.[iii]”

  47. Cloggie on Fri, 2nd Jun 2017 5:18 am 

    Of course China likes the Paris Accord, why wouldn’t they?

    Why? They will be taken to the task the most.

    And they are suffocating in their own cities. It is going to cost them most.

  48. Davy on Fri, 2nd Jun 2017 5:21 am 

    A real agreement or a lie? I feel the US should make drastic cuts but so should all other nations. This can’t be half ass and fudging.

    “China and India Will Continue to Increase Oil and Coal Consumption, Paris Agreement Notwithstanding”
    http://tinyurl.com/y6woldxv

    “The construction of transmission lines to move the wind power has not kept up with the demand nor the construction of the wind units.[iv] According to Greenpeace, an average of 19 percent of Chinese wind power was curtailed in the first three quarters of 2016.”

    “China has established a goal that 40 percent of the vehicles bought within the country will be electric cars or plug-in hybrids by 2030, but its appetite for gas-guzzling SUVs makes achieving that goal unlikely… It is estimated that China will have 150 million SUVs by 2025….The surging SUV demand will increase oil consumption in China for at least the next decade, according to estimates from state-owned China National Petroleum Corp., and will more than offset the impact of increasing electric vehicles and hybrids.[vi] China’s transportation sector required 2.5 million barrels of gasoline per day last year, and it is expected to increase until it hits 3.6 million barrels per day in 2024.”

    “As the world’s third largest emitter of greenhouse gases, India pledged as part of the Paris Agreement to reduce its carbon emission intensity (carbon emissions per unit of GDP) by 33 to 35 percent from 2005 levels by 2030.[viii] Also, by 2030, India intends to generate 40 percent of its electricity from non-fossil fuels, including nuclear power and renewable energy. Despite its intent to increase its non-fossil generation to 40 percent, coal is primarily used today and will continue to be used in the future. India has plans to build nearly 370 coal-fired power plants.[ix] Between 2006 and 2016, 139 gigawatts of coal-fired capacity was brought on-line.[x] The planned construction of an additional 178 gigawatts would make it nearly impossible for India to meet its climate promises. By developing all of the planned coal-fired capacity, India would increase its coal generating capacity by 123 percent.[xi]”

    “China, the United States, and India are the three largest emitters of carbon dioxide in the world and only the United States has decreased its emissions from 2005 levels as the graph below denotes. China and India do not intend to reduce their carbon dioxide emissions—only their carbon intensity—and investing in wind and solar energy will only bring negligible changes as wind only supplied 1.4 percent of the world’s energy in 2015 and solar provided only 0.4 percent.”
    http://tinyurl.com/yd2e52rw

  49. Cloggie on Fri, 2nd Jun 2017 5:23 am 

    Trump: “I represent Pittsburgh, not Paris”.

    Mayor of Pittsburgh (Democrat) reacts angry that Trump uses the name of his city to defend a climate policy the good mayor rejects himself:

    http://www.spiegel.de/politik/ausland/donald-trump-buergermeister-von-pittsburgh-kritisiert-klima-rueckzug-a-1150373.html

    Pittsburgh voted 80% Democrats in 2016.

  50. onlooker on Fri, 2nd Jun 2017 5:57 am 

    Davy, thanks for pointing that out about China and India. This is where all posters should try to be unbiased to identify with whom and where a problem REALLY lies

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