Hulot Signs Oil’s Death Warrant in France

07.09.2017 • Switzerland

Henry Bonner – Strategy and Council Letter (Switzerland) –

3 hours in the morning in Lausanne …

Sometimes ideas come in the middle of the night …

A voice sounds from below down the street … a drunk or a dealer, maybe …

Now, with the end of summer, the sun rises around 7 am instead of 6 … and the heat has given way.

To the west of Switzerland, a series of towns borders Lake Geneva … Geneva, Lausanne, Montreux …

For the Eastern Swiss, the Germans, the outlines of Lake Geneva could as well be part of France … and they prefer to keep their distance.

The Zurichois are offended by the “Genferei” (or “genevoiseries” in French) … designating the mixture of sizeable projects with incompetence, resulting in embarrassment and cost increases.

These projects are called “boondoggle” in English …

Undoubtedly, wind turbines, solar, and most “renewable” are part of it … including the Autolib ‘and Velib’ projects – attempts by the city of Paris to launch in the electric and in the bicycle.

Yet, project advocates, such as Al Gore, Barack Obama, or Anne Hidalgo, justify themselves by claiming to want to “save the world.”

Hulot Goes to Attack Against Petroleum

Nicolas Hulot, Minister of Ecological Transition (and Solidarity), has just announced the end of the exploitation of oil and gas by 2040 …

According to Le Monde, “Nicolas Hulot signed the death warrant for the production of oil in France.”

  1. Hulot is being reformed by the energy industry around the world.

“To respect the Paris agreements, and to keep the global warming below 2 degrees C … we must leave more than 80% of the fossil resources in the basement …

“This bill prohibits any new exploration license … but also prohibits the renewal of concessions in the future … beyond 2040.

“From 2040 … France will stop producing hydrocarbons … This will perhaps restore the balance [of climate] …

“The climate plan also foresees the end of the sale of cars running with oil or gas by 2040 …

“We will present measures to save energy …

“We will also present measures to support and develop [renewable] housing and electricity.

“Today … disasters [due to climate] are increasing in India, and also in the United States … [making] $ 100 billion damage for the last …”

  1. Hulot sees a future without oil, gas, coal … and, thanks to its diktat, billions of euros will go – if its program finishes – towards projects in wind turbines, solar, or other …

Instead of allowing the future to be written, by the choices of consumers and users, the Minister grabs him arm-to-body … and wants to shape it to the image of his dreams …

In reality, no future would ever suffice for Mr. Hulot and his compatriots … for them, the world never conforms to expectations … the Earth and its people must always “make progress,” with the boot of the State in the to encourage them.

Accepting “diversity,” renewable, reducing inequalities, dismantling statues to slave holders, or fighting “sexism on the internet …” – Mr. Hulot and others will always find causes and excuses to impose their prejudices and force their will …

With his “Climate Plan”, Mr. Hulot is pleased to have taken some of the freedom of his fellow citizens … distorting the world of millions of people in his zeal to “rectify” the injustices of the world …

“At 1.25 dollars, the euro would pose a problem to the ECB”

BusinessWeek.com/Reuters report:

“Since 1 January, the euro has appreciated by more than 13% against the dollar, a performance which, if it ends the year at its current level, would be the best since 2013.

“The dollar index, which measures the evolution of the US currency against a basket of six currencies, has fallen by about 10% since the beginning of the year, among other things, doubts about tax reform in United States.

“At the end of August, the greenback fell to its lowest level since January 2015, with fears of the economic fallout from Hurricane Harvey and tensions related to the Korean Peninsula.

“The dollar index should end the year down by more than 7% according to the Reuters survey, which would be its worst annual performance since the financial crisis.”

Analysts are worried about the deterioration of the dollar against the euro … A euro on the rise would complicate the repayment of debts, and could push the ECB to further lower its interest rates …

The Fed said it wants to reduce the size of its assets … but the dollar has fallen in response … the market could doubt the Fed’s ability to contain inflation in the months, or years to come.

With the rise of the equity market, and the growth of corporate profits, the circulation of the dollar is expected to climb … pushing wages and prices upward …

For now, inflation remains on the low end … but the deterioration in the dollar may signal a change.

What to do…?

We return to the interest of conserving gold … able to resist the devaluation of currencies …

Try to have some of your gold in “physical,” like coins or bullion.

Banks and groups advocating “gold-paper” forms might miss the ability to provide you with your gold in the event of an explosion of the course.

Truly,

Henri Bonner

-Read more at www.lettre-strategie-conseil.com (French)-

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