Woke policies lower standards of living. From Chris MacIntosh at internationalman.com:
It seems that each week that goes by we come up with variations of the same themes, one of which is supply destruction and restriction of fossil fuels. For want of doubt check out the latest garbage from Deutsche Bank. It seems that the energy crisis of last year taught them nothing. Without coal, where would Germany be?
Deutsche Bank’s actions are nothing short of malthusian (depopulation):
Deutsche Bank AG is expanding restrictions on its financing of coal, one of the main sources of energy in its home market of Germany, as part of a wider crackdown on high-emitting sectors.
Companies that have “no credible plans” to reduce thermal coal’s contribution to their revenue below half by 2025 will see their financing cut off, the Frankfurt-based bank said in its initial transition plan, published on Thursday. For companies operating outside the OECD, the revenue threshold is 30% by 2030.
Here comes the “contradiction:”
For coal, Deutsche’s target covers both thermal and metallurgical coal and builds on an existing thermal coal policy. The bank is aiming for a 49% cut in absolute terms in the broadest measure of financed emissions — known as Scope 3 — by 2030. By 2050, its goal is a 97% reduction. In cement the bank is targeting a 29% reduction in Scope 1 and 2 physical emissions intensity by 2030, and a 98% reduction by 2050.
We say contradiction because without met coal you don’t have any steel, and without coal you don’t have any cement (thermal coal is mainly used in the cement manufacturing process). And without thermal coal you don’t have any electricity… and without electricity you don’t have any aluminium (amongst other base metals) or polysilicon.
How will they defend Ukraine with no power to operate the war machine?
Breaking-Marder and Leopard go brrrr and Ivan has some new toys for the captured armor exhibit so better get the production line going Deutschland.