Martin Wolf, the Financial Times’ highly regarded economics editor, has an usually blunt article today, “Biofuels: a tale of special interests and subsidies.” While the main target is the way special interests are turning biofuels into yet another agricultural pork barrel, he makes a number of important observations: biofuels are only marginally cleaner than conventional […]
Read more...An Associated Press story, courtesy the Houston Chronicle’s website, tells us that an Alabama nuclear reactor had to be shut down because the river whose water was used as coolant was too hot: The Tennessee Valley Authority shut down one of three units at the Browns Ferry nuclear plant Thursday because water drawn from a […]
Read more...A good piece from the Associated Press via Yahoo on the potential of geothermal energy as a fossil fuel replacement. Geothermal energy has the advantage of being clean and abundant. In fact, it’s already used in some homes in northern Europe, where a geothermal well beneath a house contains water that has been heated by […]
Read more...Kuwait had a closed door session to discuss its reserves with Parliament before reaffirming the country’s proven oil reserves at 100 billion barrels. As Xinhua points out, this is a odd and troubling set of events. Parliament had refused to pass the budget, which shows a large deficit, unless the oil ministry came clean with […]
Read more...Iran has asked Japanese buyers of oil to pay in yen, not dollars. It has always been the convention to denominate oil sales in dollars (the Scotsman in March 2007 reported that China’s Zhuhai Zhenrong Corp, the biggest buyer of Iranian crude worldwide, had started paying for Iranian oil in dollars last year). If other […]
Read more...A more accurate title might be “The Wall Street Journal Goes Out of Its Way to Demonize Chavez.” Narrowly speaking, Venezuela (except perhaps its actions as an OPEC member) are outside the beat of this blog. However, we do take a keen interest in the biases in the Wall Street Journal’s reporting, and this one […]
Read more...As we have said before, the Wall Street Journal’s news reporting isn’t all its cracked up to be. One pattern we’ve noticed is a tendency to put a positive spin on economic news. Now we’ve detected a second: failing to report when powerful foreign interests jerk America’s chain. When the US said that it would […]
Read more...Earlier this month, the national science academies of the G8 plus those of China, India, Mexico, Brazil, South Africa, and India, issued a strongly worded joint statement about global warming and energy usage. Let us stress that it is pretty much unheard of for this many independent science bodies to agree on such an unequivocal […]
Read more...Larry Summers keeps getting better and better as an op-ed writer. His current article in the Financial Times lays out a series of practical recommendations on what to do about climate change. He focuses on the problem of the developing world, since they will account for 75% of the increase in greenhouse gases, and as […]
Read more...We comment only intermittently on the oil scene (there are only so many hours in the day), but the health and remaining productive capacity of the world’s major oil fields is a vital economic and strategic issue. Yet the big producers provide little information, so experts try to extrapolate from the data points they possess. […]
Read more...In an underreported story (no mention in the Financial Times or the New York Times, and the Wall Street Journal reference was in its energy blog, far from prime time), the United Nations said in essence that biofuels could create as many problems, via environmental damage and higher food prices, as they solve. It also […]
Read more...Lately, Wal-Mart looks schizophrenic. On the one hand, it has established a powerful position as the employer of last resort in many communities, and, despite its vigorous protests otherwise, has little regard for workers. It subjects them to surveillance, engages in union-blocking that many claim is on the wrong side of the law (the law […]
Read more...The Financial Times, in a series of articles published today, probes the workings of the carbon trading business, and uncovers widespread fraud: buyers paying for reductions that don’t occur, organizations extracting large carbon reduction payments for programs they were going to implement regardless, clueless or complicit brokers, offset programs that are shams. We have been […]
Read more...Count on the Financial Times to make a clear, compelling argument. From its editorial “CO2 needs a price but taxes are the best way to set it:“ The Kyoto protocol to fight climate change expires in 2012. The shape of a successor treaty is still in doubt, but one aspect seems certain: carbon trading will […]
Read more...The Financial Times has managed to be too polite. A more accurate title for this story would be “United States Again Refuses to Commit to Anything Regarding Global Warming.” Now this continuation of the US head-in-the-sand posture might be fine if the Administration hadn’t raised expectations by agreeing to a climate change summit. So its […]
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