Media & Communications

Economist calls gateway pipeline an inflationary ‘threat’

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In a detailed analysis submitted to the National Energy Board, Robyn Allan, the former president and CEO of the Insurance Corporation of British Columbia, concludes that “Northern Gateway is neither needed nor is in the public interest.” Moreover the project, if built, would raise the price of every oil barrel by $2 to $3 dollars in Canada over the next 30 years, and thereby create an inflationary price shock that would have “a negative and prolonged impact… by reducing output, employment, labour income and government revenues.”

Gas boom goes bust

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The current boom in drilling for ‘unconventional’ gas has helped raise US production to levels not seen since the early 1970′s. This has been an incredible boon to consumers and has kept spot prices contained below $5 per million BTU for the past year, recently dropping below $3/mmbtu. Unfortunately, this price is below the cost of production for many of these new wells. When the flood of investment currently pouring into natural gas drilling operations dries up, the inevitable bust will be as scary as the boom was exciting.

Growth and free trade: Brain-dead dogmas still kicking hard

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There are two dogmas that neoclassical economists must never publicly doubt lest they be defrocked by their professional priesthood: first, that growth in GDP is always good and is the solution to most problems; second, that free international trade is mutually beneficial thanks to the growth-promoting principle of comparative advantage. These two cracked pillars “support” nearly all the policy advice given by mainstream economists to governments.

Why the AGs must not settle: Robo-signing is just the tip of the iceberg

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A foreclosure settlement between five major banks guilty of “robo-signing” and the attorneys general of the 50 states is pending for Monday, February 6; but it is still not clear if all the AGs will sign. California was to get over half of the $25 billion in settlement money, and California AG Kamala Harris has withstood pressure to settle.

That is good. She and the other AGs should not sign until a thorough investigation has been conducted.

How do we build local social capital?

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If I am right in saying “the key to resilience in the coming decades will be our ability, in the moment, to imagine ways around the crises we cannot prevent, predict or plan for”, then how can we increase the imaginative capacity of our fellow citizens so they/we will be ready, in the moment?

ODAC Newsletter Feb 3

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High oil prices ensured that profits at the major oil companies rose again in 2011 – Shell’s full year profits leapt 54% to $28.6 billion while Exxon’s increased 35% to $41.1 billion. With this kind of money at stake it is no surprise it is almost impossible to get a sensible debate about our energy future…

Bill Rees’ last lecture

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Last December, after more than 40 years teaching at the School of Community and Regional Planning (SCARP) at the University of British Columbia, Bill Rees gave his last lecture as a full-time professor. As one of his last students, I found his class captivating, and in following up with many of his former students, realized they felt the same way. His career defined the modern science of sustainability, and touched the lives of many, inspiring individuals to devote their lives towards adapting our species to live responsibly on this planet.

Poor Mitt

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Mitt seems to believe what most Americans believe, which is that those on social welfare programs are doing just awesome, while the real victims are middle class Americans. This is a pretty funny idea, but it isn’t just Mitt’s. The notion that lower and middle class Americans are struggling more than the truly poor is not an uncommon one by people who look on social welfare programs with hostility. If there’s anything really different about his assumptions it is the very funny classing of the desperately poor with the extremely rich as having a lot in common.

Is there such a thing as ethical capitalism?

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In response to a growing realisation that neo-liberal capitalism is morally and literally bankrupt, Britain’s political leadership have provided three visions of ethical capitalism for us to aspire to. So, is there such a thing as ethical capitalism? And why is this question being asked now?