Iron ore billionaire Andrew ‘Twiggy’ Forrest (pictured above) has become the biggest renewable energy player in Australia and now wants to tap into the billions of dollars in ordinary Australians’ superannuation funds to help fund his planned giant pipeline of wind and solar projects throughout Australia.
Hopefully, the silent majority of Australians will push back on this obvious attempt by him to use their money to expand his business empire.
At COP28 in Dubai he launched a scathing tirade against oil and gas industry leaders, saying their heads should be “put up on spikes.”
“It’s their heads which should be put up on spikes because they wilfully ignored (climate change) and they didn’t care“, he said.
Forrest also labelled political and business leaders who opposed a phase out of fossil fuels as “selfish beyond belief.”
He said their actions put millions of people in underdeveloped countries at risk of “lethal humidity.”
“If you can’t cool yourself, you’re an oven burning around 100 watts all the time,” he said.
“If you can’t get rid of that heat energy, you cook,” he added.
Hopefully, at this stage, his captured audience burst out laughing at his inane comments but probably not, given that much the same audience was in attendance when would be wunderkind Greta Thunberg made her wildly emotional and extremely rude speech at a UN Climate Action Conference – and was actually clapped by attendees!
Forrest also referred to carbon dioxide (CO2) as “poison” when in fact it’s a vital plant food upon which all civilisation depends.
Some people might be beginning to think that ‘Twiggy’ is heading in the same emotionally distraught direction as Greta Thunberg.
Forrest’s reference to “lethal humidity”, “burning around 100 watts”, getting “cooked” and referring to CO2 as poison are worrying signs. They are such ridiculous comments that some people must be wondering what he’s going to say and do next.
And now he wants to have a major say on where our hard-earned superannuation/pension dollars are invested.
During COP28 there were many who strongly opposed decreasing the use of fossil fuels. Most of them were from the same underdeveloped countries referred to by Forrest in his weird speech. They obviously don’t agree with him.
Fortunately, not all the speeches at COP28 were as idiotic as Forrest’s.
The President of Cop28, Sultan Al Jaber (pictured above), claimed there is “no science” indicating that a phase-out of fossil fuels is needed.
Dr Al Jaber also said a phase-out of fossil fuels would not allow sustainable development “unless you want to take the world back into caves”.
Dr Sultan Ahmed Al Jaber, CBE is an Emirati politician who is the Minister of Industry and Advanced Technology of the United Arab Emirates.
He gained his PhD in business and economics from Coventry University in the UK and an MBA from the California State University in the USA. He also holds a BSc in Chemical Engineering from the University of Southern California.
While Forrest is spruiking the need for superannuation investors to invest in renewables, the fact is renewable energy stocks have been hard hit in recent months, performing significantly worse than fossil fuel companies.
The S&P Global Clean Energy Index, comprised of 100 major solar, wind power, and other renewables-related companies, has dropped over 20% in the past few months, according to the Financial Times.
This puts it on track for its worst performance since 2013. In contrast, the oil and gas-heavy S&P 500 Energy Index has seen a 6% increase.
Despite governments offering billions in tax credits and subsidies, the energy renewables sector is struggling and is likely to continue to do so.
Leading climate expert Bjorn Lomborg pointed out recently that “climate policy costs will be much higher than the likely benefits for every year this century and well into the next.”
The Massachusetts Institute of Technology (MIT) was even more negative in relation to the likely cost of current climate policies pursued by western democracies.
Given all that, Andrew Forrest is welcome to invest his billions in renewable energy if he wishes, but wiser people may well view this as a thoroughly bad idea.
Some might believe that Forrest and others of his ilk are keen to rid the planet of fossil fuels so their hugely more expensive and totally unreliable renewables can replace them. Others, of course, may believe he is only doing it to ‘save the planet’.
One day the former will come to realise that it’s not going to happen, despite fear-mongering, abusive and very strange tirades by Forrest at conferences.
In the meantime, we need to ensure that our superannuation funds – many of which are dominated by trade unions and former Labor politicians – are invested wisely and not in dubious schemes that are no doubt enthusiastically supported by Forrest’s mates in the Chinese Communist Party.
Because the truth is, the only people who really benefit from renewables – apart from the ‘Twiggies’ of the world – are the Chinese who manufacture the vast majority of solar panels, wind turbines, EVs and lithium-ion batteries.
Many thanks to Isabella Rayner of The Epoch Times for her contribution to this article and, of course, John Spooner’s very appropriate cartoon..