Tag: net zero funds

14-50 Bailout: Oregon Department of Forestry Chooses to Be Insolvent

14-50 Bailout: Oregon Department of Forestry Chooses to Be Insolvent

Show 14-50 Summary: Too big to fail? Too green to fail? For an agency designed to fund itself and some 200 other public agencies and services, like rural schools, counties, roads, police, and fire, the new “thinking” at the Oregon Department of Forestry just ran out of sustainability. It is now insolvent. And required a special session of the legislature to bail them out because they couldn’t pay the bills they owed for firefighting. But it’s going to get worse with the environmentalists’ new scheme. We talk with Jennifer Hamaker of Oregon Natural Resources and State Rep. Ed Diehl, to find out what happened, why it happened, and how this is all going to get a lot worse.

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Original Air Dates: December 14th & 15th, 2024 | Guest: Jen Hamaker & Ed Diehl

This Week – Oregon Department of Forestry Insolvent

The legislature held a special session this week to bailout a state agency. One that, since its inception, has been self funding. The Oregon Department of Forestry. Which this year could not pay its own bills for firefighting and had to be rescued by the taxpayer. While it’s not surprising a government agency spent too much and needed more money, this is way worse than the usual government failure.

The Oregon Department of Forestry was designed to fund itself. And not only that, it also funds some 200 other public entities and services. But not any more. Because now ODF has redesigned itself to fail. And to soak up taxpayer dollars. Instead of generating income for the state, it is now a liability. Leadership at Oregon Department of Forestry has determined it no longer wants to do its fundamental job. Which is to oversee—and make money from—the sale of timber on state lands.

But no more. By implementing a massive Habitat Conservation Plan (or HCP), the ODF has ensured its own perpetual bankruptcy. For the next 70 years.

Let’s recap. The Oregon Department of Forestry is supposed to harvest timber on state lands. It doesn’t want to do that. ODF is supposed to manage the forests. It doesn’t want to do that. Managing the forests means preventing fires. It doesn’t want to do that. ODF is supposed to ensure an ongoing, profitable, perpetual, and sustainable timber harvest for the future. It doesn’t want to do that.

What does it want to do? Apparently, sell carbon credits. But there is a real problem with that. (Aside from the fact it’s a massive scam.)

So Why is Oregon Department of Forestry Bankrupt?

We talk with Jen Hamaker, the president of ONRI (Oregon Natural Resource Industries) to find out the Oregon Department of Forestry got into this mess. It was a massive, self-inflicted wound. Like someone who gets injured and then gets surgery to stay disabled so they don’t have to work. Jen walks us through what the ODF was designed to do, what it is doing now, and why the need for a special session to bail them out. And if democrat lawmakers think this is going to get better, think again. This is now baked in. The Oregon Department of Forestry has changed from a billion dollar asset to a billion dollar liability.

Then we talk with State Representative, Ed Diehl (R-HD17), about what happened at the special session. Why did they call the meeting to session and then immediately go behind closed-door committee meetings? Were deals being cut? Rep. Diehl also confirms that ODF is now insolvent. Bankrupt.

ODF’s New Plan: Carbon Credits. Get Paid for Doing Nothing

And it’s only going to get worse. Why? Because the Oregon Department of Forestry wants to move away from forestry and into the carbon credit scheme.

A scheme based on false premises (CO2 is not the enemy, and it is not a pollutant). And a scheme that is likely to fall apart as all across the nation, states lose federal funding for their net zero initiatives.

And we ask, how would this be different if Republicans were in charge? Because this whole Oregon Department of Forestry fiasco is about to get a lot worse — a lot worse — with democrat super majorities in Oregon’s house and senate.

We can all agree ODF needed to pay the bills owed to firefighters. Some whom had to take out huge loans to make ends meet while waiting to be paid. But this bailout doesn’t fix the problem that ODF just created for itself. And its solution to lock up Oregon’s forest lands — let ’em burn! — Oregon Department of Forestry has just made things a lot worse.

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Show Notes: Research, Links Mentioned & Additional Info

  • Jen Hamaker’s organization is Oregon Natural Resource Industries. Visit them at ONRI.us
  • Rep. Ed Diehl’s website is www.eddiehl.com
  • Oregon isn’t paying its wildfire bills on time. Now legislators must act (OPB, December 11, 2024)
  • Taxpayers “gave” billions to create interest-bearing endowments for Far-Left environmental groups that assault natural resources: “Environmental nonprofit fundraising draws criticism across political spectrum (Capital Press, Nov 14, 2024)
    • An analysis showed “20 nonprofit environmental organizations active in the West … have total net assets of nearly $2 billion dollars”
    • “a significant amount of the money is set aside as an endowment to generate income”
  • This isn’t going to work. Oregon’s Department of Forestry’s plan to stop harvesting timber and start selling carbon credits will fail when the federal government stops cuts the trillions (yes, trillions) of dollars for “Climate Change.”
  • Oregon’s carbon credits scheme to get to net zero, like all states, depends heavily on federal funding.
  • How much federal funding for states’ net zero funding? About $40 billion. (via Perplexity, retrieved Dec 13, 2024).
    • Do democrat state lawmakers honestly think the Trump will continue that scam? (If so, we have a unicorn to sell them.
  • Sen. James Lankford Offers Sneak Peak Into How Exactly DOGE Will Clean Up Government Waste and Abuse (The Daily Signal, Dec 11, 2024)
14-06 Why Bidenomics is Bidumbnomics | Mainstream Media is Lying

14-06 Why Bidenomics is Bidumbnomics | Mainstream Media is Lying

Show 14-06 Summary: This week, it’s all about cutting through the mainstream media propaganda about the economy. Especially the lies about Bidenomics. Because it’s more Bidumbnomics than anything. Bidumbnomics is a good way to kill the economy, interfere with markets, and promote products and ideas that don’t work and cost more. Bidumbnomics are dumb economics policies that require dumb people in the media to not ask questions and keep people misinformed about how bad things really are. Like not questioning the miracle January 2024 jobs report. Or looking at the failure of 100s of billions wasted on “green energy.” (It’s not green.) Plus, Oregon is not immune. Oregon democrats also love Bidumbnomics. Spend more. Tax more. Ignore reality. Like Oregon democrats’ plan to raise statewide property taxes and do away with the current caps on property tax increases.

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Original Air Dates: February 10th & 11th, 2024 | Guest: Jonathan Williams

This Week – Bidenomics is Bidumbnomics

All you need for dumb economics policies like Bidumbnomics to be perceived as “working” is to have a willing media to spread government propaganda. And the media needs to be dumb enough about economics to not ask any questions about what they’re told. And certainly not do any kind of even simple analysis.

That way, the media keeps people uninformed. Because if people really knew how bad things were, they would be demanding answers. And politicians never want that. They want compliant sheep people who stay out of the way. Miserable peasants.

Dumb economic policies like Bidumbnomics depends on people staying quiet. But EU farmers won by speaking up.
Public outcry works! (click image for full-size)

Why? Because when people do know what their politicians are actually doing, and the actual outcomes of their schemes, people tend to revolt. And, yes, public outcry really does work.

Take a look at the win in the EU when farmers had had enough. The public joined them. And now the EU gave in to their demands.

Farmers win! “Why Europe’s green plan balked on farming

Bidenomics is Bidumbnomics Examples

Look no further than the boondoggle of Biden’s dream of a wind farm in every pot. Bidumbnomics sank several 10s of billions of your money into expensive wind farms. Especially very expensive offshore wind farms. But these expensive Bidumbnomics boondoggles have done so poorly, despite all that free cash from U.S. taxpayers, that multiple wind farm companies have cancelled contracts. And they were willing to do so because the economics of it was so poor that unless they get free cash it was a better deal to cancel the deal.

Think of that. Companies willing to take a loss of 100s of millions rather than go through with it and lose even more. And in the case of one company, they took a 4 billion loss.

Now that is Bidumbnomicsat work. Waste companies’ money, waste taxpayer money, and all for products that are less effective and more expensive to ratepayers.

Wow.

An Actual Economist Breaks Examines Bidumbnomics

We welcome back Jonathan Williams, the executive vice president of ALEC — the American Legislative Exchange Council. Jonathan is also their chief economist. And we walk through the truth about that blockbuster January jobs report. It turns out, it is more fantasy than fantastic. See this great analysis from ZeroHedge: “Inside The Most Ridiculous Jobs Report In Recent History“.) And we all know this fantasy will be corrected downward in a month or two after they got their useful idiots in the media to repeat their headline to the point where most people will think Bidenomics is working.

But to be fair, not all economic news in the mainstream media is propaganda to prop up Bidumbnomics. Sometimes, it’s more of a confession. Like Jerome Powell appearing on 60 Minutes. Who told America that we just can’t spending like we are.

But other times, it is definitely propaganda. We take a look at the slumping EV (electric vehicle) sales. After spending, yet again, 100s of billions of taxpayer dollars on the EV boondoggle, including mandating sales quotas, Bidumbnomics strikes again. EVs sales are way down.

Don’t miss the terrific article mentioned during the show about the impact of government interference in a normal market. “The West’s Humiliating Electric Car Climbdown has Begun

And even in Oregon, they are nowhere near their lofty goals of 250,000 EVs by 2025.

Oregon Democrats Embrace Bidumbnomics

Speaking of Oregon, the democrat governor and democrat-controlled house and senate want their own version of dumb economics. Like ignoring people’s economic reality to impose their ideology. And mainly, that’s more spending of taxpayer dollars to reward the political allies. There is never enough money to spend all they want on everything they want.

The answer? Raise taxes. And not just a little. They want $3 billion in more taxes. And, as if they haven’t driven enough people away, they want to eliminate and caps on statewide property taxes.

The only reason why even more Oregonians haven’t driven away is their EV must have run out of charge. Maybe that’s why Oregon wants to mandate even more of them.

But wait, it gets worse. Not only do Oregon elected democrats want to spend more, Tobias Read, the democrat in charge of Oregon’s Treasury wants Oregon’s PERS to make less money. By forcing Oregon’s investment into “Net Zero.” Uh, Toby, in case you missed it due to Bidumbnomics government propaganda media, but Net Zero funds are losing money by the day. Intelligent investors are getting out of Net Zero funds, not in. Perhaps Oregon’s PERS being in the hole by a mere $28 billion just isn’t enough?

Tune in to get the info you need. to be better informed on economics and real economic policies. So when your legislator wants to go full Bidumbnomics, you have the info you need to convince them otherwise.

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Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. I Spy Radio is now available on your favorite platform, or you can grab it right here. See the full list of podcast options.

Research, Links Mentioned & Additional Info

  • Jonathan’s organization is ALEC – the American Legislative Exchange Council. Find out more at ALEC.org.
    • Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them! Send them this link: https://alec.org/membership/.
    • And you too can join as a private-sector member!
  • You can follow Jonathan on Twitter at @TaxEconomist.
  • Farmers win! “Why Europe’s green plan balked on farming” (Semafor, via Yahoo News, Feb 7, 2024)
  • Inside The Most Ridiculous Jobs Report In Recent History (ZeroHedge, Feb 03, 2024)
    • All job gains in the past year have been part-time workers (+870,000). Full time have decreased by 97,000
    • Native vs Foreign-Born workers . All job creation in the past 4 years has been for foreigners. Zero job creation for native since 2018
  • The West’s humiliating electric car climbdown has begun” (The Telegraph, via Yahoo News, Feb 2, 2024)
  • Bidumbnomics in Oregon: “PGE and why the EV revolution is stalling” (Oregon Catalyst, Feb 4, 2024)
    • “In 2019, Senate Bill 1044 set a target of 250,000 registered Zero Emission Vehicles on Oregon roads by 2025. … [But] the number of Oregon-registered zero emission vehicles on Oregon roads as of September 2023 (with less than a year and a half to go) was just 70,000. … The likelihood that this number will grow to 250,000 over the next 12 months is nil.”
  • Plan to make Oregon retirement fund carbon neutral relies on industry, Wall Street doing the same (OPB, Feb 7, 2024)
  • HJR 201 is a Statewide Property Tax (Taxpayer Assoc, Feb 5, 2024)
  • “1,287 testify against Statewide Property Tax (HJR 201)” (Taxpayer Association of Oregon, February 14, 2024).

For further reading on Bidumbnomics