But. But. Think about the cocktail parties.

Dr Adrian Blundell-Wignall is a former senior RBA official and was the Special Advisor to the OECD Secretary-General on Financial Markets and Enterprise Affairs.

But writing the AFR this morning, Dr Blundell-Wignall (for a doctor he is) suggests that while Australia only contributes 1.3% of global emissions, based on data he has seen:

Oceania (Australia, New Zealand and smaller island states) accounts for 5.9 per cent of the relevant global loss-events related to climate change – disproportionate compared to our 1.3 per cent CO2.

Translated – while Australia contributes 1.3% of emissions, Australia will experience 5.9% of projected global loss events.

Scarey numbers.  But what Dr Blundell-Wignall fails to identify is what is the financial impact of this 5.9% of projected losses?  And also, what is the financial cost of reducing Australia’s 1.3% to nil.  You know – a basic cost-benefit analysis?

But interestingly, Dr Blundell-Wignall also says:

Mere annual increases in China’s CO2 emissions account for another Australia about every 13 months.

So.  Australia must act because boogey boogey boogey .  Scary scary scary.

But never let an economist leave it at that.  Dr Blundell-Wignall adds:

As it stands, Australia is regarded with disdain on the global stage for using clever arithmetic while leaving emissions untouched. At the same time, we busily promote and subsidise the sale of coal to developing countries while stating, cynically, that it is not Australia’s place to lecture them.

Yes.  Those would be unemployed miners and manufacturing works will be really concerned about Australia’s stand on the global stage, and the inability of Dr Blundell-Wignall to get into the best UN, OECD and EU cocktail parties.

And yes, those developing countries who seek to develop need to stop so Dr Blundell-Wignall and his peers can continue to fly to Davos.

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46 Responses to But. But. Think about the cocktail parties.

  1. FelixKruell

    As it stands, Australia is regarded with disdain on the global stage

    Yet strangely, China is not. China being the biggest emitter, with plans to continue to grow (not cut) emissions for decades to come. Which tells you all you need to know about the integrity of the ‘global stage’

  2. Terry

    I wonder if the UN would remain inclined to continue “Dr” Blundell-Wignall’s employment if Australia withdrew, or significantly reduced funding to that mendacious cult of Global Authoritarians.

  3. Nob

    Speaking as a major player on the global stage myself, let me tell you that Australia is not regarded with disdain or anything much outside of the Guardian/NYT bubble.

    The sort of people who think the shabby bureaucrats of the EU and the UN are the voice of God.

  4. MACK

    Dr Adrian Blundell-Wignall is talking drivel. These data show the number of tropical cyclones in Australia has been decreasing for decades:
    http://www.bom.gov.au/cyclone/climatology/trends.shtml
    And droughts around here are due to the Indian Ocean dipole:
    https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/2008GL036801
    His “relevant global loss-events related to climate change” simply don’t exist.

  5. jupes

    … our 1.3 per cent CO2.

    That figure must be bullshit. We have been sold the old 1.3 per cent figure for over a decade now. How could that be when:

    Mere annual increases in China’s CO2 emissions account for another Australia about every 13 months.

    And of course China isn’t the only country increasing CO2 emissions, while we are decreasing ours. So whoever supplies the 13 per cent figure should update it. But they won’t because it doesn’t fit the narrative if Australia produces less than one percent of CO2 does it.

  6. Spurgeon Monkfish III

    Doc Dlundering-Wighead sounds like one of those economists who is wrong about everything all the time.

  7. Hasbeen

    This “Dr” Blundell-Wignall is reinforcing my disgust with people who effect a hyphenated name.

    The only imaginable reason for using such a thing is that they hope to gain some advantage from a famous, or at least well known forebear, & a hyphen gives then 2 chances.

    Perhaps we could advise the “Dr” Blundell-Wignalls of this world we don’t give a damn what the elites of London or Timbuktu think of us , if they ever do. I believe Dr” Blundell-Wignall is more worried about what the elites of London will think of Dr” Blundell-Wignall if he can’t enforce the elites will on us the citizens of Oz. The time when we will have to import a lot of yellow vests from France is getting closer by the minute.

  8. Turnip

    What damn coal subsidies?

  9. Rusty of Qld

    Another highly educated idiot.

  10. FelixKruell

    Turnip:

    What damn coal subsidies?

    They all link to the same dodgy report, which includes having access to tax deductions (for your ordinary expenses, just like every other taxpayer) as a ‘subsidy’.

  11. Pyrmonter

    Do the ad hominems add much? A quick google search reveals the bloke has a PhD in economics from Cambridge. Now, the leanings of many at Cambridge are duboius – Mrs Robinson was rather too keen on Mao and the first Kim in North Korea, and Dr Kates will remind us of a certain Lord Keynes – but it’s been a respectable institution (and by several measures, for example Nobels, rather better than any here). One of Pyrmonter’s best teachers had the same qualification; and for all its left-wing leanings, it didn’t harbour a soviet spy, as Oxford did with Thomas Balogh.

  12. “As it stands, Australia is regarded with disdain on the global stage for using clever arithmetic while leaving emissions untouched”

    The serious matter of AGW climate change is not some kind of emission reduction game among nations. The only thing that matters is aggregate global emissions because these emissions cause atmospheric CO2 concentration to rise and that in turn causes the temperature to rise and that is how we get things like bushfires and tropical cyclones and such that will in the end destroy the world and the human civilization that we know. Pls see

    https://tambonthongchai.com/2019/11/16/agw-issues/

  13. duncanm

    while stating, cynically, that it is not Australia’s place to lecture them.

    its is now cynical not to lecture people on how they should live?

  14. Kneel

    “The only thing that matters is aggregate global emissions because these emissions cause atmospheric CO2 concentration to rise..”

    “Mere annual increases in China’s CO2 emissions account for another Australia about every 13 months.”

    Yet we need to shut our coal fired power stations, while China has >10 times as many as we have in total in the process of being built. Ho-kay…

    OK, what about renewables? Well… from Jo Nova, there is this:
    https://s3.amazonaws.com/jo.nova/graph/energy/renewables/aust-installing-renewables-faster-world.jpg
    Seems we are worlds best at renewables – nearly 5 times as much per capita as China. Remember how China was a “renewables powerhouse” and how it’s “doing more” than others?

    We could replace existing coal plants with HELE ones, have cheap, reliable electricity and reduce our emissions by 30%. Won’t happen though – coal is so last century!

  15. duncanm

    jupes
    #3335398, posted on February 26, 2020 at 11:35 am
    … our 1.3 per cent CO2.

    That figure must be bullshit. We have been sold the old 1.3 per cent figure for over a decade now.

    yup – wiki says 1.08% in 2017.

    Even per capita, we’re equal to oh-so-woke Canada.

  16. John A

    Pyrmonter #3335452, posted on February 26, 2020 at 12:17 pm

    …for all its left-wing leanings, it didn’t harbour a soviet spy, as Oxford did with Thomas Balogh.

    Are you not forgetting the Cambridge Four – Burgess, Maclean, Blunt, Philby?

  17. Terry

    “and that in turn causes the temperature to rise”
    Arrant nonsense. There is no evidence of any such causal relationship. Entirely speculative, not to mention dubious, at best.
    If you have any evidence of such a causal relationship, then please provide it. There is an entire class of coddled elites and other parasites that would be only too happy to bestow a Nobel prize for it.

  18. Bronson

    Dickhead alert – obviously they don’t have global loss events in other parts of the world apart from, currently that is, flooding in the Mississippi basin, as well as flooding across the UK and northern Europe. Both events across high population high value asset areas. What’s his valuation process to compare those events to events across low population density Oceania? Carpetbaggers like this moron should stick to their cocktail parties and frequent flyer air points.

  19. Pyrmotner

    @ John A

    None of Burgess, Maclean, Blunt or Philpy was an economist.

    The Fifth Man was Cairncross: but John, not his economist brother, Alex.

  20. Pyrmonter

    @ JohnA

    None of Burgess, Maclean, Philby or Blunt was an economist (the latter was an art historian).

    The Fifth Man, Cairncorss, was a literary scholar, but his brother, Sir Alex, was an economist. But so far as I recall, no-one has ever suggested he spied.

  21. Ƶĩppʯ (ȊꞪꞨV)

    let’s destroy modern australia… for the rocks and the abos

  22. Tom

    The dying anti-business daily allows yet another richly rewarded diseducated idiot to recite the junk science of global warming that carbon dioxide is driving global temperature.

    The only science involved is the Malthusian self-hatred of smartarse knowalls like the hyphenated fool who loathe the luxury they’re now living in thanks to the wild success of the free market, which not even the wishful thinking of Marxism’s living dead could stop from effectively abolishing world poverty and starvation in the past 50 years.

  23. John Bayley

    Doc Dlundering-Wighead sounds like one of those economists who is wrong about everything all the time.

    He’s most likely related to The Kook.
    “Coal is dying, even if you’re a climate denier” is that genius’ latest idiocy.
    “Cheap renewables…are the disruptors.”
    You really cannot cure stupid.

  24. John Bayley

    They all link to the same dodgy report, which includes having access to tax deductions (for your ordinary expenses, just like every other taxpayer) as a ‘subsidy’.

    Either that, or they fall back on some totally arbitrary, made-up BS about “negative externalities due to climate change” supposedly caused by fossil fuels..
    SSDD (same sh*t different day)

  25. billie

    am a poorly educated person, (no arts degree) help me out here please

    what are the stages of rejection scaled from acceptance?

    Where does “disdain” fit?

    could it be something like this:
    acceptance (the world is round, men went to the moon)
    meh (donuts exist, so what)
    ignore (anything New Zealand says)
    disdain (Australia? wot?)
    contempt (as in sneering lefties, Green/Labor Party, all of them, or the ABC)
    horror (Brexit viewed by anyone who didn’t vote for it)
    derangement (as in Abbott666 derangement or Trump derangement syndromes)
    catastrophic (fire season)
    rejection (Greens dealing with anyone else)

    probably better examples out there too

    Please feel free to modify and update this list, I’d really like to know how to deal with the idea that “Australia is regarded with disdain on the global stage” .. is it a good thing or a bad thing?

  26. I_am_not_a_robot

    … Oceania (Australia, New Zealand and smaller island states) accounts for 5.9 per cent of the relevant global loss-events related to climate change – disproportionate compared to our 1.3 per cent CO2 …

    CO2 in the atmosphere is ‘a well mixed gas’, in other words on average the CO2 concentration in the air over, say, Sydney is within a few percentage points the same as over the South Pole.
    The Australian continent at ~5% of the world’s land area (i.e excluding oceans) it is not surprising that the continent would experience ~5% of whatever effects, good and/or bad (if any) caused by the increasing CO2 concentration.
    The fact that the densely populated areas are around the coasts may be a relevant factor but on the other hand the vast sparsely populated north-west has experience increasing annual rainfall and CO2 fertilisation as observed on satellite imagery.

  27. All I can say is that the (somewhat) warmth, rain and extra CO2 has caused everything, and I mean everything, in our property to erupt into growth. Our plants, young Elms, Oaks, ferns, bracken and everything else can almost be seen to increase almost daily in size and spread. Is this bad?

  28. Tim Neilson

    As it stands, Australia is regarded with disdain on the global stage for using clever arithmetic while leaving emissions untouched.

    Take this with a pinch of salt.

    Remember when Howard stopped the boats we were told that Australia was a pariah in, e.g. Europe?

    During that time my father happened to sit next to the European Editor of the London Telegraph at a dinner and my father asked him about the “pariah” issue. The editor told him that most people in Europe didn’t know a thing about the stop the boats even happening, and those that did overwhelmingly wished that Europe could do something similar – it was only a tiny minority of hysterics that were shrieking about it.

  29. Tim Neilson

    Our plants, young Elms, Oaks, ferns, bracken and everything else can almost be seen to increase almost daily in size and spread. Is this bad?

    Are there any triffids?

  30. Leo G

    As it stands, Australia is regarded with disdain on the global stage for using clever arithmetic while leaving emissions untouched. At the same time, we busily promote and subsidise the sale of coal to developing countries while stating, cynically, that it is not Australia’s place to lecture them.

    The real reason global crony capitalists have had disdain for Australia’s coal exports over the past 3 decades is that Australian coal reset the lowest cost supply at such a low level. The landed price in Europe for US Appalachian coal ca 1990 was typically USD$120/t- the Australian exports reset the benchmark to US$50/t and below.

  31. Are there any triffids?

    I’d need to check more closely, there’s a chance there may be some in the gully at the bottom of our property, which is closer to the river.

  32. Hello Terry
    The proof you asked for is provided in the linked document.

  33. Spurgeon Monkfish III

    renewables…are the disruptors

    Well they certainly disrupt cheap reliable fossil fuel powered electrickery grids such as the one we had in this country up until not so long ago.

  34. CameronH

    There is this constant mention of coal subsidise without ever detailing what they are and how much they are worth. Typical leftist lies.

  35. Professor Fred Lenin

    Is he a South Australian ? The double barrelled name indicates that he could be theres a lot of that about there , they are usually stupid and totally unaware of their stupidity SHYis an example.

  36. Professor Fred Lenin

    Nearly all the people who hate and despise Australia for not being globalist enpugh are tertiary educated Australian lefties ,the rest are rejected criminal would be migrants ,people of little consequence .
    The enemy is within ,the u.n.fifth column and soros owned thugs .

  37. classical_hero

    Yet on a per capita basis, no country has spent more on renewable energy.

  38. Squirrel

    “At the same time, we busily promote and subsidise the sale of coal to developing countries….”

    Those juicy defined benefit pensions paid to retired RBA officials have to be funded one way or another.

    The 1.3% of emissions vs. 5.9% of “loss events” is actually an argument for our part of the world to be helped, rather than punished – but only if you’re not consumed with and blinded by “do as I say, not as I do” righteousness.

  39. Crossie

    The time when we will have to import a lot of yellow vests from France is getting closer by the minute.

    I think those were made in China as is everything these days, or it was until coronavirus.

  40. Crossie

    duncanm
    #3335469, posted on February 26, 2020 at 12:33 pm
    while stating, cynically, that it is not Australia’s place to lecture them.

    its is now cynical not to lecture people on how they should live?

    Isn’t this another manifestation of the Australia elites’ cultural cringe? I thought we shed that in the 80s.

  41. Fair Shake of the Sauce Bottle

    I also believe much of that 1.3% is made up of Australia’s coal exports. We don’t consume it but get tagged with the emissions. Stitch up job by UN and IPCC cos we are an easy mark.
    Come again soon.

  42. Entropy

    Our emissions within a blink of an eye will fall below one percent of total global emissions. It was actually 1.08% two years ago, this hyphenated parasite hadn’t updated his numbers.
    And as for the 5.9%, that’s because we are a wealthy, decent country to live in and the place is worth a lot compared with the shitholes elsewhere.

    Also, perhaps this severely educated doctor could detail the supposed subsidies coal exports get? Usually you find this is total bullshit along the diesel fuel rate (aka road user charge exemption when these companies don’t use the roads) and a lack of a carbon tax on the coal.

  43. Mick Gold Coast QLD

    Dr Blundell-Wignall (who looks quite pretty with his modern coyfewer with grey-blue tips) adds:

    As it stands, Australia is regarded with disdain on the global stage

    What? We are disdained? By who? By global stage people like this?

    * Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea who claims to cannibalise his opponents. He is African American.
    * José Eduardo dos Santos, elder statesman and past president of rubbish dump Angola. He is African American.
    * Emmerson Dambudzo Mnangagwa of Rhodesia, bestie of Robert Mugabe, who owned the joint for 50 odd years, and murdered a few million of his own people, until he thankfully carked it recently from syphillis. Evidently. Both look like they are African American.
    * King Mswati III, King of Swaziland (with a bonce shaped like a soccer ball) who proudly presides over the world’s highest HIV rates. He is African American.
    * Omar Al-Bashir, last President of Sudan, who is industrial grade murderous and financially monumentally corrupt. He is African American.
    * Mrs Bill Clinton, who ought to be in solitary for life.
    * elder statesman Tony Blair, evil communist.
    * Kanzler Merkel, swamp pig.

    It really hurts that these baboons regard us poorly. It is amusing, though, when the bad news is delivered by an effete little bundle of sticks.

  44. Lee

    As it stands, Australia is regarded with disdain on the global stage

    What? We are disdained? By who? By global stage people like this?

    That reminds me of George Negus’s infamous interview with Margaret Thatcher, where he got his comeuppance:

    Negus: Why do people stop us in the street almost, and tell us, that Margaret Thatcher isn’t just inflexible, she’s not just single minded, on occasion she’s plain pig-headed and won’t be told by anyone.

    Thatcher: Would you tell me who has stopped you in the street and said that … tell me who and where and when.

  45. Matt

    Emissions are one thing, what about the ability of our forests, oceans and grasslands to absorb Co2? Out net co2 is zero already.

    Emissions have to be netted off with absorption.

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