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Global Warming News Articles
Excerpts of Key Global Warming News Articles in Media


Below are highly revealing excerpts of important global warming news articles from the major media suggesting a cover-up. Links are provided to the full news articles for verification. If any link fails to function, read this webpage. These global warming news articles are listed by order of importance. You can also explore the articles listed by order of the date of the news article or by the date posted. By choosing to educate ourselves and to spread the word, we can and will build a brighter future.

Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


China is crushing the U.S. in renewable energy
2017-07-18, CNN News
http://money.cnn.com/2017/07/18/technology/china-us-clean-energy-solar-farm/

As the Trump administration yanks the U.S. out of the Paris climate change agreement, claiming it will hurt the American economy, Beijing is investing hundreds of billions of dollars and creating millions of jobs in clean power. "Even in China where coal is - or was - king, the government still recognizes that the economic opportunities of the future are going to be in clean energy," said Alvin Lin, Beijing-based climate and energy policy director with the Natural Resources Defense Council. More than 2.5 million people work in the solar power sector alone in China, compared with 260,000 people in the U.S.. While President Trump promises to put American coal miners back to work, China is moving in the opposite direction. Coal still makes up the largest part of China's energy consumption, but Beijing has been shutting coal mines and set out plans last year to cut roughly 1.3 million jobs in the industry, [as well as] pledged in January to invest 2.5 trillion yuan ($367 billion) in renewable power generation - solar, wind, hydro and nuclear - by 2020. China's growing dominance in the [renewable power] sector has had a huge effect on the global market. Manufacturers dramatically ramped up production of solar panels, driven by an estimated $42 billion in government subsidized loans between 2010 and 2012. The U.S. accused China of flooding the market and the Commerce Department started imposing steep tariffs on Chinese-made solar panels in 2012 in a bid to protect American producers.

Note: The world's biggest floating solar power plant was recently built in China. And in the US, the solar power industry now employs more workers than the coal, oil and natural gas industries combined.


ExxonMobil fires back at AG Maura Healey with own suit
2016-12-05, Boston Globe
http://www.bostonglobe.com/metro/2016/12/04/mass-exxonmobil-tangle-court-over...

Law enforcement officials announced last spring that they were pursuing fraud investigations against the world’s largest oil company, ExxonMobil. “Fossil fuel companies ... deceived investors and consumers about the dangers of climate change,” [Attorney General Maura] Healey said at the time. Now those words are being used against Healey, in a lawsuit filed by ExxonMobil. In a stunning offense-is-the-best-defense legal strategy, the company is ... saying the Massachusetts Democrat’s investigation violates their free speech and other constitutional rights. In its legal battle to shut down her investigation, ExxonMobil has demanded that she testify about her efforts and provide documents from her office. Healey contends the corporate response is unprecedented: Not only is [ExxonMobil] refusing to comply, it is demanding an investigation of the investigating agency. “They took the tack of trying to shut down this investigation by suing us,” she said. When Healey issued subpoenas seeking ExxonMobil’s documents on climate change dating to the 1970s, she was “abusing the power of government to silence a speaker she disfavors,” lawyers for ExxonMobil wrote in their June lawsuit against her, alleging a violation of the company’s rights. And they criticized the stories that prompted the investigation: Reports published in 2015 ... suggested ExxonMobil had encouraged climate change confusion for years, despite its own research documenting the risks.

Note: Read more on Exxon Mobile's climate change deceptions. For more along these lines, see concise summaries of deeply revealing news articles on global warming and corporate corruption.


Papers show Mitterrand approved Rainbow Warrior bombing
2005-07-10, New Zealand Herald
http://www.nzherald.co.nz/index.cfm?c_id=2&ObjectID=10335095

The sabotage of the Greenpeace flagship Rainbow Warrior 20 years ago in Auckland was carried out with the "personal authorisation" of France's late president Francois Mitterrand, documents showed today. Le Monde newspaper published extracts in its Saturday edition of a 1986 account written by Pierre Lacoste, the former head of France's DGSE foreign intelligence service, giving the clearest demonstration yet of Mitterrand's direct involvement in the sinking of the campaign vessel. Portuguese photographer Fernando Pereira died in the attack on the ship that was leading Greenpeace's campaign against French nuclear tests on the Mururoa Atoll in the Pacific. "I asked the president if he gave me permission to put into action the neutralisation plan that I had studied on the request of Monsieur (Charles) Hernu," Lacoste wrote. Hernu was defence minister at the time. "He gave me his agreement while stressing the importance he placed on the nuclear tests.


For First Time Since 1800s, Britain Goes a Day Without Burning Coal for Electricity
2017-04-21, New York Times
https://www.nytimes.com/2017/04/21/world/europe/britain-burning-coal-electric...

Friday was the first full day since the height of the Industrial Revolution that Britain did not burn coal to generate electricity. Coal powered Britain into the industrial age and into the 21st century, contributing greatly to the “pea souper” fogs that were thought for decades to be a natural phenomenon of the British climate. For many living in the mining towns up and down the country, it was not just the backbone of the economy but a way of life. But the industry has been in decline for some time. The last deep coal mine closed in December 2015, though open cast mining has continued. Reducing the world’s reliance on coal and increasing the use of renewable energy sources like solar and wind power have long been part of proposals to prevent the worst consequences of climate change. Now on a path to phase out coal-fired power generation altogether by 2025, Britain, also the home of the first steam engine, is currently closing coal plants and stepping up generation from cleaner natural gas and renewables, like wind and solar. Some countries have already left coal behind in power generation. In Switzerland, Belgium and Norway, “every day is a coal-free day,” Carlos Fernández Alvarez, a coal analyst at the International Energy Agency in Paris, pointed out. In the United States, where coal still accounts for about 30 percent of power generation, Vermont and Idaho are the only coal-free states, and California is close behind, he said.

Note: In the US, the solar power industry now employs more workers than the coal, oil and natural gas industries combined.


Trump to shelve fuel mileage rules
2017-03-15, Los Angeles Times
http://www.latimes.com/politics/la-na-pol-trump-autos-20170315-story.html

President Trump directed the Environmental Protection Agency on Wednesday to shelve aggressive vehicle fuel economy targets that have been a foundation for battles against climate change and harmful pollution in California and across the country. The regulations to be reviewed ... had set ambitious targets for vehicle mileage. The decision puts the White House on a path toward a direct and costly confrontation with California. State officials, pointing to California’s unique authority under the Clean Air Act, have made clear they will not waver from requiring passenger cars to average about 54 miles per gallon by 2025, up from an average of 36 miles per gallon today. Trump’s announcement comes amid a lobbying blitz from a coalition of the world’s largest vehicle makers, which complained in a letter to the new administration that the existing EPA rules place unreasonable and expensive demands on the industry. The ultimate fate of the regulations may now be decided in a legal brawl between California and the Trump administration. The state is already moving to defend the federal regulations in court. "Any weakening or delay of the national standards will result in increased harms to our natural resources, our economy, and our people,” reads a legal filing submitted Tuesday by the state. Under the Clean Air Act, the state can impose emissions standards stronger than those set by the federal government, and a dozen other states have embraced the California rules.

Note: Many believe that fuel efficiency is determined by marketplace demand for more efficient vehicles. As this article shows, this is not the case. Congress mandates the average mpg of vehicles sold, and industry must comply. For more, see this essay.


EPA scientists held back from conference: Cost-cutting or something more?
2017-02-11, Christian Science Monitor
http://www.csmonitor.com/Environment/2017/0211/EPA-scientists-held-back-from-...

At this week’s Alaska Forum on the Environment, 17 EPA employees were no-shows – and not by choice. The agency had planned to send 34 staff members to the week-long conference. But after the White House transition team demanded cutbacks, the Environmental Protection Agency only allowed half to attend. The EPA’s announcement comes after months of criticism by President Trump and his advisors, and a paring-down of climate science on government websites. Regardless of the motives behind this particular action, it continues a years-long trend of cuts to government agencies’ travel funds. Scientific research, which involves a regular exchange of ideas and findings, has been hit especially hard. The federal government faced major pressure to curb travel spending in 2012, when an Inspector General’s report revealed that the General Services Administration had spent more than $820,000 on a lavish conference in Las Vegas. The Office of Management and Budget promptly issued a memo directing each federal agency to spend 30 percent less on travel than it had in 2010. This week’s Alaska Forum on the Environment wasn’t exclusively for scientists. In addition to federal agencies like the Centers for Disease Control and Prevention (CDC) and the National Oceanic and Atmospheric Administration (NOAA), it featured military personnel and representatives from Alaska’s state, local, and tribal governments. Its panels addressed topics such as climate change, oil spills, and hazardous waste, which have both science and public policy aspects.

Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and climate change.


Melting Ice In Greenland Could Expose Serious Pollutants From Buried Army Base
2016-08-05, NPR
http://www.npr.org/sections/thetwo-way/2016/08/05/488872411/melting-ice-in-gr...

Buried below the ice sheet that covers most of Greenland, there's an abandoned U.S. Army base. Camp Century had trucks, tunnels, even a nuclear reactor. It was also a test site for deploying nuclear missiles. The camp was abandoned almost 50 years ago. But serious pollutants were left behind. Now a team of scientists says that as climate warming melts the ice sheet, those pollutants could spread. [Researcher William Colgan] found unclassified records that described what was left behind there - for example, the nuclear reactor was removed, but low-level radioactive cooling water used in it was not. There were very likely PCBs, which are toxic compounds in electrical equipment. There's no record of how much remained. Colgan says the Army figured all of it would be entombed forever. "They thought it would snow in perpetuity," he says, "and the phrase they used was that the waste would be preserved for eternity by perpetually accumulating snow." Except now, the climate has changed. Greenland's ice sheet is melting. Computer models say the camp could be uncovered by the end of this century. Meltwater could easily end up in the buried camp and then carry contamination through under-ice channels to the ocean. Colgan says it's unclear who owns this waste. The Army built the camp under a treaty between the U.S. and Denmark, which had jurisdiction over Greenland. It's a legal dilemma that's likely to start cropping up more often.

Note: For more along these lines, see concise summaries of deeply revealing global warming news articles from reliable major media sources.


Pope Francis’s edict on climate change will anger deniers and US churches
2014-12-17, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/world/2014/dec/27/pope-francis-edict-climate-chang...

In 2015, the pope will issue a lengthy message on [climate change] to the world’s 1.2 billion Catholics, give an address to the UN general assembly and call a summit of the world’s main religions. The reason for such frenetic activity, says Bishop Marcelo Sorondo, chancellor of the Vatican’s Pontifical Academy of Sciences, is the pope’s wish to directly influence next year’s crucial UN climate meeting in Paris. The idea is to convene a meeting with leaders of the main religions to make all people aware of the state of our climate and the tragedy of social exclusion. In March ... the pope will publish a rare encyclical on climate change and human ecology. Urging all Catholics to take action on moral and scientific grounds, the document will be sent to the world’s 5,000 Catholic bishops and 400,000 priests, who will distribute it to parishioners. In recent months, the pope has argued for a radical new financial and economic system to avoid human inequality and ecological devastation. Francis’s environmental radicalism is likely to attract resistance from Vatican conservatives and in rightwing church circles, particularly in the US. Francis will also be opposed by the powerful US evangelical movement, said Calvin Beisner, spokesman for the conservative Cornwall Alliance for the Stewardship of Creation, which has declared the US environmental movement to be “un-biblical” and a false religion. “The pope should back off,” he said.

Note: For more along these lines, see concise summaries of deeply revealing articles on climate change and income inequality from reliable major media sources.


Climategate 2.0
2011-11-28, Wall Street Journal
http://online.wsj.com/article/SB10001424052970204452104577059830626002226.html

Last week, 5,000 files of private email correspondence among several of the world's top climate scientists were anonymously leaked onto the Internet. Like the first "climategate" leak of 2009, the latest release [includes emails from] top scientists in the field ... like Michael Mann of Penn State University and Phil Jones of the University of East Anglia. The new release of emails was timed to coincide with the second anniversary of the original climategate leak and with the upcoming United Nations climate summit in Durban, South Africa. And it has already stirred strong emotions. But at least one scientist involved -— Mr. Mann -— has confirmed that the emails are genuine. If the case for man-made global warming is really as strong as the so-called consensus claims it is, why do the climategate emails show scientists attempting to stamp out dissenting points of view? This is the real significance of the climategate emails. They show that major scientists who inform the IPCC can't be trusted to stick to the science and avoid political activism. This, in turn, has very worrying implications for the major international policy decisions adopted on the basis of their research.

Note: We are not taking a stand for or against global warming. We post this to show that both sides of the debate are manipulating the data for their own political agendas.


Climate change deniers accused of McCarthyism
2010-05-06, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/earth/earthnews/7686079/Climate-change-deniers-acc...

Climate change experts face a "McCarthy-like" persecution by politically-motivated opponents, some of the world's leading scientists have claimed. In a letter published in the journal Science, more than 250 members of the US National Academy of Sciences, including 11 Nobel Prize laureates, condemned the increase in "political assaults" on scientists who argue greenhouse gas emissions are warming the planet. In the US politicians have called for a criminal investigation of climate scientists, while in the UK eminent professors have received hate mail and even death threats. In a strongly worded letter, the group of scientists likened the situation to the 'McCarthy era' in the US where anyone suspected of Communist links was threatened with persecution. The period in the 1950s was named after the anti-communist pursuits of Senator Joseph McCarthy. "We call for an end to McCarthy-like threats of criminal prosecution against our colleagues based on innuendo and guilt by association, the harassment of scientists by politicians seeking distractions to avoid taking action, and the outright lies being spread about them," the letter read. The letter points out that there is uncertainty attached to theory of evolution and the Big Bang. But like these theories, climate change has been "overwhelmingly" accepted by scientists.


Obama's NSC Will Get New Power
2009-02-08, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/07/AR20090207020...

President Obama plans to order a sweeping overhaul of the National Security Council, expanding its membership and increasing its authority to set strategy across a wide spectrum of international and domestic issues. The result will be a "dramatically different" NSC from that of the Bush administration or any of its predecessors since the forum was established after World War II ... according to national security adviser James L. Jones, who described the changes in an interview. Jones, a retired Marine general, made it clear that he will run the process and be the primary conduit of national security advice to Obama. The new structure ... will expand the NSC's reach far beyond the range of traditional foreign policy issues. New NSC directorates will deal with such department-spanning 21st-century issues as cybersecurity, energy, climate change, nation-building and infrastructure. Many of the functions of the Homeland Security Council, established as a separate White House entity by President Bush after the terrorist attacks of Sept. 11, 2001, may be subsumed into the expanded NSC, although it is still undetermined whether elements of the HSC will remain as a separate body within the White House. Over the next 50 days, John O. Brennan, a CIA veteran who serves as presidential adviser for counterterrorism and homeland security and is Jones's deputy, will review options for the homeland council, including its responsibility for preparing for and responding to natural and terrorism-related domestic disasters.


'Eco-towns' target doubled by PM
2007-09-24, BBC
http://news.bbc.co.uk/2/hi/uk_news/politics/7010888.stm

Gordon Brown has promised to double the number of "eco-towns" to be built across the UK from five to ten. The prime minister told the Labour conference in Bournemouth that a positive response to the project had encouraged him to expand it. This showed "imagination", he said, adding that eco-towns would help the government meet housebuilding targets. In May, Mr Brown promised [that] communities of up to 100,000 low-carbon and carbon-neutral homes would be built. Mr Brown told the Labour conference: "For the first time in nearly half a century we will show the imagination to build new towns - eco-towns with low and zero-carbon homes. And today, because of the responses we have received, we are announcing that instead of just five new eco-towns we will now aim for ten - building thousands of new homes in every region of the country." This would help boost housebuilding to 240,000 homes a year, he said. The eco-town idea was the first major policy announcement made by Mr Brown as he began his campaign to succeed Tony Blair as prime minister earlier this year. Constructed on old industrial sites, they will be powered by locally generated energy from sustainable sources. The government said that, with a month to go until the deadline, there had been about 30 expressions of interest in building eco-towns from councils, developers and others.


Now the Pentagon tells Bush: climate change will destroy us
2006-02-22, The Observer (One of the UK's leading newspapers)
http://observer.guardian.co.uk/international/story/0,6903,1153513,00.html

A secret report, suppressed by US defence chiefs ... warns that major European cities will be sunk beneath rising seas as Britain is plunged into a 'Siberian' climate by 2020. Nuclear conflict, mega-droughts, famine and widespread rioting will erupt across the world. The document predicts that abrupt climate change could bring the planet to the edge of anarchy as countries develop a nuclear threat to defend and secure dwindling food, water and energy supplies. The threat to global stability vastly eclipses that of terrorism, say the few experts privy to its contents. 'Disruption and conflict will be endemic features of life,' concludes the Pentagon analysis. 'Once again, warfare would define human life.' The report was commissioned by influential Pentagon defence adviser Andrew Marshall, who has held considerable sway on US military thinking over the past three decades. Climate change 'should be elevated beyond a scientific debate to a US national security concern', say the authors. Last week the Bush administration came under heavy fire from a large body of respected scientists who claimed that it cherry-picked science to suit its policy agenda and suppressed studies that it did not like. A former whistleblower at the Environmental Protection Agency (EPA) said that suppression of the report for four months was a further example of the White House trying to bury the threat of climate change.

Note: Though I don't agree with these doomsday scenario predictions (the Pentagon tends to focus on worst-case scenarios), the suppression of this report clearly does not serve the public.


Climate experts: Gore's movie gets the science right
2006-06-27, CNN/Associated Press
http://www.cnn.com/2006/TECH/science/06/27/gore.science.ap/index.html

The nation's top climate scientists are giving "An Inconvenient Truth," Al Gore's documentary on global warming, five stars for accuracy. The former vice president's movie -- replete with the prospect of a flooded New York City, an inundated Florida, more and nastier hurricanes, worsening droughts, retreating glaciers and disappearing ice sheets -- mostly got the science right, said all 19 climate scientists who had seen the movie or read the book and answered questions from The Associated Press.


White House in climate change "cover up"
2008-07-08, Forbes/Reuters News
http://www.forbes.com/reuters/feeds/reuters/2008/07/08/2008-07-08T203454Z_01_...

A leading U.S. Senate Democrat accused the Bush administration on Tuesday of a "cover-up" aimed at stopping the Environmental Protection Agency from tackling greenhouse emissions. "This cover-up is being directed from the White House and the office of the vice president," said Sen. Barbara Boxer, the California Democrat who chairs the Senate Environment and Public Works Committee. At issue is a preliminary finding by the EPA last December that "greenhouse gases may reasonably be anticipated to endanger public welfare," according to Jason Burnett, the agency's former associate deputy administrator who appeared at a news conference with Boxer. Such a finding would be an early step toward government regulation aimed at protecting public health. Boxer said that unless EPA documents were released, it was likely that within the next two weeks her committee would try to subpoena the material. Burnett, who resigned on June 9, told Boxer's committee the White House tried pressuring him to retract an e-mail [in] which he detailed the finding. Burnett said he refused. Since then, the EPA finding has been left "in limbo." [Boxer] has been trying since last October to obtain related documents to show that planned congressional testimony on global warming by Dr. Julie Gerberding, director of the Centers for Disease Control and Prevention, was censored by the Bush administration. Burnett told the congressional committee the administration's Council on Environmental Quality "and the office of the vice president were seeking deletions to the CDC testimony."

Note: For key news reports on global warming from reliable sources, click here.


We Could Be Ignoring the Biggest Story in Our History
2006-01-18, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2006/01/17/AR20060117008...

The best reporting of...climate change has come from Elizabeth Kolbert in the New Yorker. Her three-part series last spring lucidly explained the harbingers of potential disaster: a shrinking of Arctic sea ice by 250 million acres since 1979; a thawing of the permafrost for what appears to be the first time in 120,000 years; a steady warming of Earth's surface temperature; changes in rainfall patterns that could presage severe droughts of the sort that destroyed ancient civilizations. This month she published a new piece, "Butterfly Lessons," that looked at how these delicate creatures are moving into new habitats as the planet warms. Her real point was that all life, from microorganisms to human beings, will have to adapt, and in ways that could be dangerous and destabilizing. If people such as...Kolbert are right, we are all but ignoring the biggest story in the history of humankind. Kolbert concluded her series last year with this shattering thought: "It may seem impossible to imagine that a technologically advanced society could choose, in essence, to destroy itself, but that is what we are now in the process of doing." The failure of the United States to get serious about climate change is unforgivable, a human folly beyond imagining.


Climate Change Just Got a Little Less Terrible
2018-02-09, Bloomberg
https://www.bloomberg.com/news/articles/2018-02-09/climate-change-just-got-a-...

There are some 20,000 research papers listed on Google Scholar, a search engine for academics, that mention the worst-case scenario for climate change. Basically, it’s the most cataclysmic estimate of global warming. This scenario is important to scientists. According to a provocative new analysis from the University of British Columbia, it’s also wrong. This is good news. The researchers contend that current goals of reducing coal, oil and gas consumption may be closer than we think. The basic issue has to do with coal. Quite simply, the more we burn, the faster we destroy the atmosphere. The darkest scenario assumes much more coal burning will take place in this century than is likely to happen, according to the study’s authors. For example, the most extreme worst-case storyline assumes that by 2100 coal would grow to 94 percent of the world energy supply. In 2015, that figure was about 28 percent. The new work, published this week in Environmental Research Letters, shows just how much all that phantom coal may be distorting our picture of what the future may look like. It casts “doubt on whether this outlook is still valid,” the researchers write. The amount of greenhouse gases emitted as a result of using energy - called the carbon intensity of energy - has been slipping for decades. The drop in carbon intensity is likely to continue. [The new study] suggest that climate scenarios should be adjusted to capture this “passive decarbonization.”

Note: For more along these lines, see concise summaries of deeply revealing climate change news articles from reliable major media sources.


Trump’s Cabinet nominees want to reshape the nation — and the Earth
2016-12-15, San Francisco Chronicle (One of SF's leading newspapers)
http://www.sfchronicle.com/politics/article/Trump-s-Cabinet-nominees-want-to-...

The latest batch of President-elect Donald Trump’s Cabinet nominees are poised to reshape not only the nation, but also the planet. The man tapped to be America’s chief diplomat is a trusted friend of Russia, the nation’s longtime geopolitical rival. The man tapped to lead the Department of Energy has long pledged to kill it. Russia [awarded him] its Order of Friendship in 2013, one of the highest awards Moscow gives foreigners. The man nominated to shepherd the Labor Department opposes raising the minimum wage. And Trump’s nominees to run the Environmental Protection Agency and the departments of Interior and Energy are dubious about the science behind climate change. Trump tapped these men — most of his nominees are wealthy, white men — because they are top “deal-makers.” And while they may not be creatures of Washington, they are still part of the nation’s elite and a far cry from Trump’s campaign promise to “drain the swamp” of entrenched power-brokers. “It’s a cabinet of tycoons,” said Eleni Kounalakis, a San Francisco business executive who served as U.S. ambassador to Hungary from 2010 to 2013. “He believes business tycoons know what’s best. Like what’s best for Exxon is best for America.”


How to deal with worries about stranded assets
2016-11-24, The Economist
https://www.economist.com/news/special-report/21710632-oil-companies-need-hee...

Mark Carney, the governor of the Bank of England, addressed the insurance industry on climate change [in 2015]. He dropped a bombshell on the oil industry. His message was twofold. First, if the world seriously intended to limit global warming to 2şC, most of the coal, oil and gas reserves in the ground would be left “stranded”, or unrecoverable. Second, a task force would be set up to prompt companies to disclose how they planned to manage risks and prepare for a 2şC world, similar to the one created to improve risk disclosure by banks after the financial crisis. Mr Carney’s remarks presaged a change in attitude towards oil companies by governments, financial regulators and investors that has become clearer since the Paris climate-change agreement last December. The Securities and Exchange Commission, America’s stockmarket regulator, is investigating whether ExxonMobil, the country’s biggest oil company, values its untapped reserves appropriately in light of the recent halving of oil prices and potential regulatory action on climate change. In October it said it might write down about one-fifth of its reserves. The company has faced related probes by New York’s attorney-general. The industry may come under further pressure. If measures to stop global warming are fully implemented, oil-company revenues could fall by more than $22trn over the next 25 years, more than twice the predicted decline for the gas and coal industries combined.

Note: For more along these lines, see concise summaries of deeply revealing climate change news articles from reliable major media sources.


To deal with climate change we need a new financial system
2016-11-05, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/global-development-professionals-network/2016/nov...

When it comes to global warming, we know that the real problem is not just fossil fuels – it is the logic of endless growth. If we don’t keep the global economy growing by at least 3% per year, it plunges into crisis. This ... makes little sense given the limits of our finite planet. Climate change is the most obvious symptom of this contradiction, but we’re also seeing it in the form of deforestation, desertification and mass extinction. Our economic system is incompatible with life on this planet. Debt is the reason the economy has to grow in the first place. Because debt always comes with interest, it grows exponentially. Without growth, debt piles up and eventually triggers an economic crisis. The global economic system runs on money that is itself debt. Instead of letting commercial banks create money by lending it into existence, we could have the state create the money and then spend it into existence. [In] the 1930s ... a group of economists in Chicago proposed [this] as a way of curbing the reckless lending that led to the Great Depression. The Chicago Plan, as it was called, made headlines again in 2012 when progressive IMF economists put it forward as a strategy for preventing the global financial crisis from recurring. This idea is already beginning to gain traction: in the UK, the campaigning group Positive Money has generated momentum around it. The idea has its enemies, of course. If we shift to a positive money system, big banks will no longer have the power to literally make money out of nothing.

Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and global warming.


Important Note: Explore our full index to revealing excerpts of key major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.