Insight and inspiration in turbulent times.
Not deterred by the international financial crisis which became widespread in 2008 or by the many recessionary patterns that grip most country economies, financial engineers are massing in København to prepare for the next wave. This one is about the commercial opportunities which renewable energy technologies, country climate funds and sectoral mitigation programmes promise to contain.
Oil prices ended Thursday under $76/barrel following a week of mixed economic and geopolitical news. A surprise announcement at the end of last week that Dubai, that shining symbol of sustainable development in the Middle East, would not pay the interest on some of its massive debts on time, briefly rallied the dollar pushing down oil prices…
We cannot be lulled into a false sense of security: though oil prices have declined from their historic highs, there is little doubt that peak oil is real. A 2008 research project completed at Washington University in St. Louis found strong evidence in support of the theory. Please feel free to circulate this academic document as a primer on peak oil.
The poor in the South African townships are feeling the brunt of it already, a growing electricity crisis that will squeeze already meagre household incomes, spur inflation, add to the costs of essential foods, and raise transport costs in a country whose mass transport systems are utterly inadequate. Already saddled with a more than 30% hike in metered power costs for this year, they were told to expect a hike of a further 150% over the next three years.
Plenty of people think of metaphysics as one of those abstruse topics that give otherwise unemployable academics something to do with their time. Meanwhile the industrial world lurches toward disaster along a trajectory marked out, in part, by a common metaphysical error. The Archdruid explains, in this second post of a series.
Through September 2009, the government of India has issued a variety of statements designed to quell India’s long-lived China bogey. It has done so to contain what it calls panic and scare-mongering about alleged incursions over the India-China border by units of the People’s Liberation Army. The ‘incidents’ (as the Indian media like to call the events) have all occurred over India’s north-western border with China, in the mountainous Jammu and Kashmir state.
San Antonio’s new Mayor Julian Castro, in office just three months, has inherited a dilemma. The nation’s 7th largest city is suffering from almost 8% unemployment. With limited resources, the Mayor and City Council are searching for ways to create local jobs. At the same time, the City, through its municipal utility City Public Service (CPS), is burning through hundreds of millions of dollars on just paperwork, to prepare to spend billions on a new nuclear power plant project some 200 miles away at Bay City, TX.
For decades the “Holy Grail” of the New Energy Economy has been to find ways to store wind and solar energy. The answers are here, and they are much more plain and simple than we thought. Like Indiana Jones in his Last Crusade, we need to see the Grail that is right before our eyes. The means to enable solar and wind energy to serve as our primary energy supplies are at hand.
A weekly round-up including:
– Prices and production
– Is China’s economy stalling?
Although the SW sunshine resource is enormous and largely untapped, critics of solar energy routinely note the sun does not shine all the time. The implication is that power is needed all the time, and since the sun is not always available, solar opponents say it would be foolish to invest in generating electricity from the sun.
Richard Heinberg’s new book Blackout tries to demolish current assumptions about the world’s remaining coal endowment: namely, that it is immense beyond belief, barely tapped and will last for centuries to come. Heinberg argues that these assumptions are off-base, misleading and not at all supported by recent studies that suggest global coal production could peak in less than two decades.
There is a well-known story about how to boil a frog. If you try to throw a frog into a pot already boiling, he’ll jump out. However, put a frog into a pot and slowly raise the temperature – and you get frog legs for dinner.
