30 Sep 2015

Climate Change - The World Becomes Uninsurable

A few days ago we learned a pool of very cold ocean water in the North Atlantic was caused by the melting of the Greenland ice sheets. Whats scary about this is it can (and will) slow the ' Atlantic Meridional Overturning Circulation, or AMOC'. Part of that system is the 'Gulf Stream' heat conveyor belt that brings a mild climate to places like Britain.
Today as if on cue, the head of the Bank of England Mark Carney told a Loyds of London dinner audience the British insurance industry was exposed to physical and liability risks as well as the downgrading of their fossil fuel investments.  British insurers manage about £2 trillion in assets and some of these investments are facing re-pricing due to the shift to a low carbon economy. Its a double whammy for the insurance industry, and a BoE report warns them to be prepared. It will only get worse we believe.
We are seeing this effect in Australia right now with coal miner Glencore losing 30% of its value overnight. Australia's biggest miner BHP Billiton is also being dragged down by the uncertainty surrounding coal.
Inside Tasmania was been saying for some time that the World has entered a long series of climatic negative feedback loops. The slowing of the Gulf Stream is just one of these loops and they will cause a massive hit to the global economic prosperity. The clearing and burning of forests in Tasmania to prevent catastrophic bush fires is another negative feedback loop that causes more atmospheric carbon, less rain and an even hotter climate.
We predict that the unusually cold Tasmanian Winter of 2015 was a direct result of climate change. There is another pool of cold ocean water between Africa and Antarctica and we suspect that was the culprit. The World's climate is simply reacting to us, the human infection that destroys everything in it's path.

1 comment:

Anonymous said...

Wouldn;lt worry to much, it's already over and nothing can be done to stop the runaway effects of climate change, other than the removal of 95% of humanity. That is starting to happen now as we are entering and new evolutionary era of the planet, the age of ideology is way past it's sue by date and about to be removed and relegated to the past. Climate change is aiding that evolutionary process and in the next 10-15 years, all ideological humans will be removed by nature. The break down of their minds as reality overruns the insane delusional and destructive world they live in, it's already beginning to have an effect, is getting worse every day until deluded insanity controls all ideologues and they lose the plot completely.

The growing incidence of depression, is one sign of the collapse of ideological psychology.