Climate Change a $10 Trillion Opportunity? Yeah for Wealth Destruction

Even though the idea of Climate Change has been dealt some serious damage by the various scientific scandals we still have people banging the drum.

Yet, the progress in the 20th century and the spread of information in the 21st century, assures there is hope. We have the technology, mostly American, necessary to meet the carbon emission reduction targets of 2020. As noted, the investment needed to bring about this change globally is $10 trillion by 2020 – just a 20% shift in our global annual infrastructure spending from 20th century technology to 21st century technology.

I would not trust the US Government (let along China or Russia) to efficiently deploy this $10 Trillion judging by their tract record. The vast majority of this money will go into the pockets of plutocrats and third-world dictators and not do anything of consequence. It will be Oil-for-Food in Iraq on steroids. This part is just pollyannish:

The challenge is that while the technology exists we still don’t have the business model and financial innovation necessary to attract the $10 trillion by 2020. The president can change that. How? By thinking beyond just the EPA, and stop limiting thinking about how to recycle 20th century solutions like Fannie Mae and come up with 21st century solutions like crowdfunding. Crowdfunding, for example, allows investors to band together to quickly fund low-risk stable clean energy infrastructure projects, a better investment than settling for 3% annuity payments for the next 30 years of their life.

Um, crowd fund up to $10 trillion in low-risk stable clean energy infrastructure? Even if they were able to generate 1/100 of that amount it would mostly be wasted. If Solyndra is any yardstick this money would be flushed directly down the toilet and offer zero return for those suckers' money.

Most green energy has been a boondoggle. Solar had a ton of bankruptcies and wind is unsightly and seems to kill tons of birds. I wouldn't trust "smart grids connected to the Net" because you know the NSA is going to track where electricity goes and for what purpose.

If someone really wanted to "combat climate change" they would set aside $100 billion and put it into a fund and sell "green bonds" on that amount. Then have Blackrock or whomever run that fund for some nominal fee. That way investors will get some sort of return for their money instead of promises and ill-thought out green patronage. I wouldn't trust the US Government with that amount for any reason knowing how corrupt the stimulus spending in green energy went down.