Saturday, 6 September 2014

About Face: Why the world needs more CO2: The failed science of global warming!

A new book by Arthur Middleton Hughes, Madhav Khandekar and Cliff Ollier.  Arthur invited Cliff and Madhav to join him in writing various sections of the book.

Unfortunately lead author Arthur Middleton Hughes, an economist in Florida ( former Deputy to Commerce/Treasury Secretary Bill Simon during President Nixon ) passed away just about ten days ago! 

(See Obituary - HERE)

Like many, Arthur started off as a believer in the AGW Hoax but then realised the scam. 

As he explains in the book:
Like everyone else, I read about global warming:  that increases in carbon dioxide (CO2) in our atmosphere are warming the Earth and will eventually involve us in an unstoppable "runaway greenhouse effect" that will destroy the planet and ourselves. 
At first, I thought that the idea of global warming was true. I experimented with solutions to the CO2 problem. I spent more than a year thinking through the idea of massive planning some trees in the deserts of Australia watered by desalination plants on the shore. I proved, to my satisfaction at least, that such trees could convert enough CO2 in a year to represent 40% of the needed CO2 reduction, while making a big profit for the plantation and desalination plan investors. 
But in getting to the bottom of the science of CO2, I realised that CO2 really is essential to all life on this earth. Photosynthesis is what keeps us alive. Sunlight plus water plus CO2 is the basic process that creates all plants - the basic food that animals and people have to eat – without which our life would be impossible.  
So how can this same CO2 at the same time be destroying our way of life? I began to read extensively about climate science in books by famous scientists like Vincent Gray, Cliff Ollier, Madhav Khandekar, S Fred Singer, Craig Idso, Robert Carter and many others. That is when I saw that there was a floor in the "CO2 is bad for us" argument. The basic flaw is that CO2 is such a tiny fraction of our atmosphere– 0.04%– That it could not possibly be warming the Earth by any significant amount.
At the end of that chapter he writes what is basically the theme of the book:

CO2 is good. We need more of it, not less.

Carbon Sequestration Farm Fails

Henbury station - 230 Km South of Alice Springs
It seemed like a Green's dream. Buy a cattle station and sell off the cattle and then sell carbon credits to corporations. Simples!

So RM Williams Agricultural proceeded to do just that.

Using $9 million Federal Government grant, with great fanfare they bought the 5300sq km property for $13 million.

ABC Rural reported: (link)
RM Williams Agricultural Holdings collapsed late last year owing nearly $100 million, after its carbon farming project Henbury Station at Alice Springs folded.
Investors left out of pocket included ACCC chairman Rod Sims, and the former owners of Henbury station, Ross Morton and Sally Williams, who were owed $4.5 million for the sale. 
PPB Advisory and its legal advisors Henry Davis York have now applied to court for the purpose of conducting examinations in the coming months. 
Details of the sale are still under wraps, but media reports suggest the final price was between $6 to $8 million.

 Receivers and Managers PPB Advisory previously announced that the company was delighted to have secured the future of Henbury as a cattle business once again.
He said that after good rains and with no cattle on the vast area for almost three years, the plentiful grass and feed on Henbury had attracted 20 tender offers from overseas and Australia, which was later whittled down to a short list of six serious bidders. (link)

Here are the figures as this bloggist sees them:

Purchase Price      Company funds            4
                              Government Funds      9
                              Total                           13
Less Unpaid to Vendor                              4.5
Amount paid                                              8.5

So the appearance is that the Labor Government paid $8.5million  toward the purchase price and another half million into the company's coffers.

How could this mad Green scheme have lost nearly $100 million in under three years?