Thursday , March 28 2024
Home / The Angry Bear / Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax

Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax

Summary:
By New Deal democrat Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax At first blush yesterday’s negative industrial production print gives the lie to the proposition that the economy has left last year’s “shallow industrial recession” behind, as it looks to be going mainly sideways: But a closer examination shows that is not the case.  Industrial production is broken up into three groupings: manufacturing (by far the biggest), utilities, and mining (including oil and gas). So here is the information for manufacturing (blue. left scale) and mining (red, right scale): Although the trend is modest, manufacturing has broken out to new highs.  And the energy patch is clearly seeing a rebound. Which means that the *entire* reason for the decline is utilities: Note this graph is seasonally adjusted.  But whenever most of the country has an unusually warm winter — as is the case this year — it shows up as a decline in energy (i.e., heat) production. So you can blame the downturn in industrial production on the Great Global Warming Hoax.

Topics:
Dan Crawford considers the following as important:

This could be interesting, too:

Steve Roth writes Where Does Wealth Come From?

Steve Roth writes What is Wealth?

Joel Eissenberg writes Will AI take all the jobs?

Sandwichman writes Labour power as a common-pool resource

by New Deal democrat

Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax

At first blush yesterday’s negative industrial production print gives the lie to the proposition that the economy has left last year’s “shallow industrial recession” behind, as it looks to be going mainly sideways:

Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax

But a closer examination shows that is not the case.  Industrial production is broken up into three groupings: manufacturing (by far the biggest), utilities, and mining (including oil and gas).

So here is the information for manufacturing (blue. left scale) and mining (red, right scale):

Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax
Although the trend is modest, manufacturing has broken out to new highs.  And the energy patch is clearly seeing a rebound.

Which means that the *entire* reason for the decline is utilities:

Industrial production: We’re DOOO …. oh, wait, it’s the global warming hoax

Note this graph is seasonally adjusted.  But whenever most of the country has an unusually warm winter — as is the case this year — it shows up as a decline in energy (i.e., heat) production.

So you can blame the downturn in industrial production on the Great Global Warming Hoax.

Dan Crawford
aka Rdan owns, designs, moderates, and manages Angry Bear since 2007. Dan is the fourth ‘owner’.

Leave a Reply

Your email address will not be published. Required fields are marked *