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In 2023, the Vatican reported an operating deficit of $87 million. The number had increased by $5.3 million in a year. This is one of the largest debts the Vatican has ever accumulated,
Tourism, one of the Vatican’s largest income streams, has failed to return to pre-pandemic levels.
Pope Francis and his progressive policies are causing a rift with more conservative Catholics, decreasing donations.
The hope is that The Great Jubilee of 2025 - a celebration marking the 1,700th anniversary of the Council of Nicaea, expected to attract over 35 million pilgrims - will be a financial savior.
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Travis Hunter from Suwanee, Georgia, is an anthropology major carrying a 3.798 cumulative GPA. He is the first Academic All-American to win the Heisman since former Florida Star Tim Tebow did so in 2007.
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The Sacrifice for Energy
Demand in China, the world's largest coal consumer, is likely to grow by 1% in 2024 to reach 4.9 billion tonnes, nearly a third higher than in the rest of the world combined. The country is set to import 500 million tonnes, more than double the previous import record.
One in every three tonnes of coal used worldwide is burned at a power plant in China to cope with the country's enormous electricity demand. Paradoxically, China is also powering ahead on clean power, building two-thirds of all new wind and solar in the world.
India is also expected to consume more coal than the EU and the US combined as demand in the Asian nation rises by more than 5% to 1.3 billion tonnes, a level previously only reached by ChinaGlobal coal production is expected to reach an all-time high, surpassing 9 billion tonnes for the first time, as the three largest producers, China, India and Indonesia, hit new highs.
Demand in China, the world's largest coal consumer, is likely to grow by 1% in 2024 to reach 4.9 billion tonnes, nearly a third higher than in the rest of the world combined. The country is set to import 500 million tonnes, more than double the previous import record.
One in every three tonnes of coal used worldwide is burned at a power plant in China to cope with the country's enormous electricity demand. Paradoxically, China is also powering ahead on clean power, building two-thirds of all new wind and solar in the world.
India is also expected to consume more coal than the EU and the US combined as demand in the Asian nation rises by more than 5% to 1.3 billion tonnes, a level previously only reached by ChinaGlobal coal production is expected to reach an all-time high, surpassing 9 billion tonnes for the first time, as the three largest producers, China, India and Indonesia, hit new highs.
The French continue to bail the Chinese boat. The WSJ summary reveals a particularly European view of government and its relationship with the citizenry.
Paris contemplates regulating delivery and returns services for e-commerce to ensure carbon compliance, urging consumers instead to repair defective products rather than replace them. Fancy a steak frites or a duck à l’orange? Not anymore: Paris will insist you switch to vegetarian ratatouille to limit the carbon footprint of your diet.
How and where the French travel will have to change too. The roadmap envisions more electric vehicles, stiff penalties for driving older cars, promotion of remote work to cut down on commutes, fewer business trips and vacations abroad, and denser housing.
The French won’t be able to escape climate policy even in those denser homes. The net-zero roadmap warns of restrictions on screen sizes and resolutions to limit the energy consumption for televisions and smartphones.
Paris even envisions regulating personal climates. The dream (or nightmare) is for “intelligent building control systems” that limit winter heating to 66 degrees Fahrenheit and summer air conditioning to 78 degrees.
This will be achieved via regulations, subsidies, penalties, and taxes. The economic and fiscal costs are proving ruinous wherever they’re attempted, and this month the strain crashed Germany’s governing coalition. With its chronic economic anemia, fiscal bloat, and commitment to the socialistic garrot, France is at the end of its growth.
But China has plenty of time.
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