Business
Bill Gates Gets Mugged By Reality
From the Daily Caller News Foundation
You’ve probably heard by now the blockbuster news that Microsoft founder Bill Gates, one of the richest people to ever walk the planet, has had a change of heart on climate change.
For several decades Gates poured billions of dollars into the climate industrial complex.
Some conservatives have sniffed that Bill Gates has shifted his position on climate change because he and Microsoft have invested heavily in energy intensive data centers.
AI and robotics will triple our electric power needs over the next 15 years. And you can’t get that from windmills.
What Bill Gates has done is courageous and praiseworthy. It’s not many people of his stature that will admit that they were wrong. Al Gore certainly hasn’t. My wife says I never do.
Although I’ve only once met Bill Gates, I’ve read his latest statements on global warming. He still endorses the need for communal action (which won’t work), but he has sensibly disassociated himself from the increasingly radical and economically destructive dictates from the green movement. For that, the left has tossed him out of their tent as a “traitor.”
I wish to highlight several critical insights that should be the starting point for constructive debate that every clear-minded thinker on either side of the issue should embrace.
(1) It’s time to put human welfare at the center of our climate policies. This includes improving agriculture and health in poor countries.
(2) Countries should be encouraged to grow their economies even if that means a reliance on fossil fuels like natural gas. Economic growth is essential to human progress.
(3) Although climate change will hurt poor people, for the vast majority of them it will not be the only or even the biggest threat to their lives and welfare. The biggest problems are poverty and disease.
I would add to these wise declarations two inconvenient truths: First: the solution to changing temperatures and weather patterns is technological progress. A far fewer percentage of people die of severe weather events today than 50 or 100 or 1,000 years ago.
Second, energy is the master resource and to deny people reliable and affordable energy is to keep them poor and vulnerable – and this is inhumane.
If Bill Gates were to start directing even a small fraction of his foundation funds to ensuring everyone on the planet has access to electric power and safe drinking water, it would do more for humanity than all of the hundreds of billions that governments and foundations have devoted to climate programs that have failed to change the globe’s temperature.
Stephen Moore is a co-founder of Unleash Prosperity and a former Trump senior economic advisor.
From the Daily Caller News Foundation
At Tesla’s Austin headquarters, investors backed Musk’s 12-step plan that ties his potential trillion-dollar payout to a series of aggressive financial and operational milestones, including raising the company’s valuation from roughly $1.4 trillion to $8.5 trillion and selling one million humanoid robots within a decade. Musk hailed the outcome as a turning point for Tesla’s future.
“What we’re about to embark upon is not merely a new chapter of the future of Tesla but a whole new book,” Musk said, as The New York Times reported.
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The decision cements investor confidence in Musk’s “moonshot” management style and reinforces the belief that Tesla’s success depends heavily on its founder and his leadership.
Tesla Annual meeting starting now
https://t.co/j1KHf3k6ch— Elon Musk (@elonmusk) November 6, 2025
“Those who claim the plan is ‘too large’ ignore the scale of ambition that has historically defined Tesla’s trajectory,” the Florida State Board of Administration said in a securities filing describing why it voted for Mr. Musk’s pay plan. “A company that went from near bankruptcy to global leadership in E.V.s and clean energy under similar frameworks has earned the right to use incentive models that reward moonshot performance.”
Investors like Ark Invest CEO Cathie Wood defended Tesla’s decision, saying the plan aligns shareholder rewards with company performance.
“I do not understand why investors are voting against Elon’s pay package when they and their clients would benefit enormously if he and his incredible team meet such high goals,” Wood wrote on X.
Norway’s sovereign wealth fund, Norges Bank Investment Management — one of Tesla’s largest shareholders — broke ranks, however, and voted against the pay plan, saying that the package was excessive.
“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk,” the firm said.
The vote comes months after Musk wrapped up his short-lived government role under President Donald Trump. In February, Musk and his Department of Government Efficiency (DOGE) team sparked a firestorm when they announced plans to eliminate the U.S. Agency for International Development, drawing backlash from Democrats and prompting protests targeting Musk and his companies, including Tesla.
Back in May, Musk announced that his “scheduled time” leading DOGE had ended.
From the Frontier Centre for Public Policy
By Conrad Eder
Frontier Centre for Public Policy study reveals a decade of inflated Liberal forecasts—a track record that casts a long shadow over Carney’s first budget
The Frontier Centre for Public Policy has released a major new study revealing that the Trudeau government’s federal budget forecasts from 2016 to 2025 were consistently inaccurate and biased — a record that casts serious doubt on the projections in Prime Minister Mark Carney’s first budget.
Carney’s 2025–26 federal budget forecasts a $78.3-billion deficit — twice the size projected last year and four times what was forecast in Budget 2022. But if recent history is any guide, Canadians have good reason to question whether even this ballooning deficit reflects fiscal reality.
The 4,000-word study, Measuring Federal Budgetary Balance Forecasting Accuracy and Bias, by Frontier Centre policy analyst Conrad Eder, finds that forecast accuracy collapsed after the Trudeau government took office:
- Current-year forecasts were off by an average of $22.9 billion, or one per cent of GDP.
- Four-year forecasts missed the mark by an average of $94.4 billion, or four per cent of GDP.
- Long-term projections consistently overstated Canada’s fiscal health, showing a clear optimism bias.
Eder’s analysis shows that every three- and four-year forecast under Trudeau predicted a stronger financial position than what actually occurred, masking the true scale of deficits and debt accumulation. The study concludes that this reflects a systemic optimism bias, likely rooted in political incentives: short-term optics with no regard to long-term consequences.
“With Prime Minister Carney now setting Canada’s fiscal direction, it’s critical to assess his projections in light of this track record,” said Eder. “The pattern of bias and inaccuracy under previous Liberal governments gives reason to doubt the credibility of claims that deficits will shrink over time. Canadians deserve fiscal forecasts that are credible and transparent — not political messaging disguised as economic planning.”
The study warns that persistent optimism bias erodes fiscal accountability, weakens public trust and limits citizens’ ability to hold government to account — a threat to both economic sustainability and democratic transparency.
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