Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Thursday, November 4, 2010

It’s Not the Climate Bill, Stupid

by Heather TaylorMiesle NRDC Action Fund

The role of federal climate legislation in the mid-term Congressional elections, to paraphrase Mark Twain, is being greatly exaggerated. For instance, Politico was quick to blame last year’s vote on the American Clean Energy and Security Act (ACES) for the defeat of House Democrats.

In reality, 160 Democratic representatives who voted for the House climate bill won their elections yesterday. (This does not include four races that are still too close to call as of this writing.) On the other hand, 19 of 34 representatives who voted against the bill went down in defeat. (This excludes two races that were not decided as of this writing.)



continued at Daily Kos....

Thursday, October 21, 2010

Climate Change and Risky Business

by Steven D

Seriously deranged people (or bought and paid for shills) attack the scientific consensus opinion that climate change is occurring at an ever accelerating rate as a result of greenhouse gas emissions (especially carbon dioxide).  However, no one has ever accused Price Waterhouse Coopers, the second largest professional services firm in the world, of a lack of seriousness when it comes to analysing the risks of investments.

So when Price Waterhouse releases a study that suggests municipal bond rating companies are not taking into account the long term consequences of one of the effects of climate change, water scarcity, thus putting at risk the investments of municipal bond purchasers, I, for one, take note:



continued at Daily Kos....

Tuesday, October 19, 2010

China stops our Green Revolution in its tracks

by gjohnsit

 The news media and the political blogs are enraptured with handicapping the political races. No one has time to worry about real issues anymore. This is the silly season, when immigrant nannies and comments from comedians become "important". When shady television hucksters are inexplicably taken seriously and hold huge political rallies.

 Yet the real world, the one that operates on tangible things that make an actual difference in our lives, keeps chugging along.
  While some of you were busy obsessing about political trivialities, the governments of the world were entering a global trade war. This development entered a scary stage yesterday when Brazil decided not to attend the coming G20 summit.

 However, that was nothing compared to China's latest move.



continued at Daily Kos....

Sunday, October 17, 2010

Climate change is an economic crisis

by Laurence Lewis

Last week, a generic right-wing propagandist named S.E. Cupp appeared on Bill Maher's show, spewing what to a certain breed of climate denialist has become a favorite misdirection. They don't flat out deny the science, although they certainly don't acknowledge the gravity of what the science tells us; but they attempt to pretend that the real question isn't whether or not anthropogenic climate change is occurring, rather it's whether or not we can afford to deal with it. But any excuse for not dealing with it is but a different flavor of the same. It all boils down to ignoring the depth of the crisis so the fossil fuels industries can churn right along, reaping massive profits from the destruction of the biosphere.

Cupp's cutesy claim was that we can't afford to address climate change. It's about people's mortgages, she blithered. But not only does she ignore the obvious fact that the environmental consequences of climate change will render such concerns trivial if not moot, she also ignores the actual economics of climate change. Because it's not a question of whether we can afford to deal with it, it's the answer that we can't afford not to. Perhaps living in some fantasy land divorced from science provides people like Cupp with some sort of psychological solace, but it doesn't require exercising one's imagination to consider the geopolitical consequences of some 200,000,000 people being displaced, worldwide. It does require a sober acceptance of the meaning when even the usually staid and cautious National Academies of Sciences reach this conclusion:

The compelling case that climate change is occurring and is caused in large part by human activities is based on a strong, credible body of evidence, says Advancing the Science of Climate Change, one of the new reports. While noting that there is always more to learn and that the scientific process is never "closed," the report emphasizes that multiple lines of evidence support scientific understanding of climate change. The core phenomenon, scientific questions, and hypotheses have been examined thoroughly and have stood firm in the face of serious debate and careful evaluation of alternative explanations.

"Climate change is occurring, is caused largely by human activities, and poses significant risks for — and in many cases is already affecting — a broad range of human and natural systems," the report concludes. It calls for a new era of climate change science where an emphasis is placed on "fundamental, use-inspired" research, which not only improves understanding of the causes and consequences of climate change but also is useful to decision makers at the local, regional, national, and international levels acting to limit and adapt to climate change. Seven cross-cutting research themes are identified to support this more comprehensive and integrative scientific enterprise.

And while Republicans such as Joe Miller, Ken Buck, Carly Fiorina, Linda McMahon, Marco Rubio, Rand Paul, David Vitter, Roy Blunt, Richard Burr, Rob Portman, Jim Huffman, Pat Toomey, Dino Rossi, John Raese, and Ron Johnson are among those Republicans that specifically deny the clear scientific consensus on climate change, other Republicans, such as John McCain, Christine O'Donnell, Mark Kirk, Kelly Ayotte, and both Republicans running in New York are among those opposed to cap-and-trade to address it. The National Academies?

A carbon-pricing system is the most cost-effective way to reduce emissions.  Either cap-and-trade, a system of taxing emissions, or a combination of the two could provide the needed incentives.  While the report does not specifically recommend a cap-and-trade system, it notes that cap-and-trade is generally more compatible with the concept of an emissions budget.

Of course, those opposed to cap-and-trade don't offer any realistic alternatives, not only because there aren't any to offer but because they aren't interested in a realistic response. But to be even more specific and direct, the false question of whether or not we can afford to deal with climate change ignores the economic impacts of climate change itself, which have actually been studied. And written about--for those who actually care about the research and that are capable of reading.

Four years ago, the British government's HM Treasury produced a comprehensive analysis, titled the Stern Review on the Economics of Climate Change. It takes its name from the radical hippie who led the team making the analysis: Nicolas Stern, former chief economist and senior vice president of the World Bank, former chief economist and special counsellor to the president of the European Bank for Reconstruction and Development, and currently the first holder of the I. G. Patel Chair at the London School of Economics and Political Science, as well as the chair of the Grantham Institute for Climate Change and the Environment at the London School of Economics.

When it was released, the BBC summarized the Stern Review's conclusions about the environmental impacts of climate change:

TEMPERATURE

# Carbon emissions have already pushed up global temperatures by half a degree Celsius

# If no action is taken on emissions, there is more than a 75-percent chance of global temperatures rising between two and three degrees Celsius over the next 50 years

# There is a 50-percent chance that average global temperatures could rise by five degrees Celsius

ENVIRONMENTAL IMPACT

# Melting glaciers will increase flood risk

# Crop yields will decline, particularly in Africa

# Rising sea levels could leave 200 million people permanently displaced

# Up to 40 percent of species could face extinction

# There will be more examples of extreme weather patterns

And the economic impact:

# Extreme weather could reduce global gross domestic product (GDP) by up to 1 percent

# A two-to-three degree Celsius rise in temperatures could reduce global economic output by 3 percent

# If temperatures rise by five degrees Celsius, up to 10 percent of global output could be lost. The poorest countries would lose more than 10 percent of their output

# In the worst case scenario global consumption per head would fall 20 percent

# To stabilise at manageable levels, emissions would need to stabilise in the next 20 years and fall between 1 percent and 3 percent after that. This would cost 1 percent of GDP

But what is that compared to the cost of dealing with climate change? For Cupp and anyone else who might need things explicitly spelled out, The Guardian two years ago quoted Stern from a London speech:

Lord Stern of Brentford made headlines in 2006 with a report that said countries needed to spend 1% of their GDP to stop greenhouse gases rising to dangerous levels. Failure to do this would lead to damage costing much more, the report warned - at least 5% and perhaps more than 20% of global GDP.

But speaking yesterday in London, Stern said evidence that climate change was happening faster than had been previously thought meant that emissions needed to be reduced even more sharply.

This meant the concentration of greenhouse gases in the atmosphere would have to be kept below 500 parts per million, said Stern. In 2006, he set a figure of 450-550ppm. "I now think the appropriate thing would be in the middle of that range," he said. "To get below 500ppm ... would cost around 2% of GDP."

Yes, the cost of stopping the rise in greenhouse gases is now estimated at up to 2 percent of global GDP. But the cost of the damage from them is estimated to be- at a minimum- more than twice as much, with a maximum of up to 10 times as much. Even someone with Cupp's challenges and values ought to be able to understand that!

And a little closer to home, the University of Maryland's Center for Integrative Environmental Research compiled a series of reports, some broken down by state and some by region, which can be found here. As explained in the introduction of the full report, titled The US Economic Impacts of Climate Change and the Costs of Inaction (pdf):

In the West and Northwest, climate change is expected to alter precipitation patterns and snow pack, thereby increasing the risk of forest fires. Forest fires cost billions of dollars to suppress, and can result in significant loss of property. The Oakland, California fire of 1991 and the fires in San Diego and San Bernardino Counties in 2003 each cost over $2 billion. Every year for the past four years, over 7 million acres of forests in the National Forest System have burned with annual suppression costs of $1.3 billion or more.

The Great Plains and the Midwest will suffer particularly from increased frequency and severity of flooding and drought events, causing billions of dollars in damages to crops and property. For example, the North Dakota Red River floods in 1997 caused $1 billion in agricultural production losses, and the Midwest floods of 1993 inflicted $6-8 billion in damages to farmers alone. The Northeast and Mid-Atlantic region will see increased vulnerability to sea level rise and storms. Depending on the category of the event, evacuation costs for the Northeast region may range, for a single event, between $2 and $6.5 billion. Since 1980, there have been 70 natural weather-caused disasters, with damages to coastal infrastructure exceeding $1 billion per event. Taken together, their combined impact surpassed $560 billion in damages.

Decreased precipitation levels in the South and Southwest will strain water resources for agriculture, industry and households. For the agriculturally productive Central Valley in California alone, the estimated economy-wide loss during the driest years is predicted to be around $6 billion per year. Net agricultural income for the San Antonio Texas Edwards Aquifer region is predicted to decline by 16-29% by 2030 and by 30-45% by 2090 because of competing uses for an increasingly scarce resource – water.

The true economic impact of climate change is fraught with “hidden” costs. Besides the replacement value of infrastructure, for example, there are real costs of re-routing traffic, workdays and productivity lost, provision of temporary shelter and supplies, potential relocation and retraining costs, and others. Likewise, the increased levels of uncertainty and risk, brought about by climate change, impose new costs on the insurance, banking, and investment industries, as well as complicate the planning processes for the agricultural and manufacturing sectors and for public works projects.

In other words, climate change isn't just an environmental issue, and it isn't just a humanitarian issue. Those who don't much care about the environment or humanity can't find comfort in making economic excuses, unless they don't really care about the economy, either. To be as explicitly clear as is possible: The climate crisis is an economic crisis, and unless one cares only about the continued staggering profits of the fossil fuels industries, there are no rationales or excuses not to be addressing climate change as the global environmental, human and economic crisis that it is.



continued at Daily Kos....

Wednesday, October 13, 2010

Energize US: In Billy Kennedy's Own Words (NC-05)

by Energize US

The choices facing us are stark. One option, the one I favor, is to free ourselves of both fossil fuels and the political influence bought with fossil fuel money.

We must invest in new technology and renewable energy because new American jobs depend on it. China has now jumped ahead to become the world's largest manufacturer of wind turbines and solar panels - they are adding 100,000 new jobs a year in renewable energy as a result.

We could have what China has, too, but not going at things the way we have been.



continued at Daily Kos....

Tuesday, October 12, 2010

DelBene closing on Reichert. Let's pick up one blue.

by rb137

I met Suzan DelBene for the first time some months ago, when we had a converstion about why she chose to run for congress. She impressed me at the time, and I have not been disappointed since. In the past six weeks, she's closed a 14 point gap to the point where the spread is within the error bars, and she has real momentum.

Joan McCarter wrote about this race yesterday and Politico called it a "sleeper alert" this morning, citing this article in the Seattle-PI. The Republicans are freaking, though, because they expected this to be a comfortable contest for David Reichert. They are putting 11th hour resources into this district to be sure.

You might remember Wa-08 prior, when Darcy Burner ran for congress in 2006 and 2008. This is a tough district that has never seated a Democrat, but is always within striking distance of making a red to blue transition. Darcy nearly succeded. More than turning a red seat blue, though, I want to tell you why we need to send Suzan to congress.  



continued at Daily Kos....

Wednesday, September 29, 2010

EnergizeUS: Skills Mismatch, Congressional Style

by Energize US

 Lately we’ve been hearing a lot of excuses: people are unemployed because they’re lazy. They’re unemployed because they have skills mismatch.

  The real reason people are unemployed is that the jobs they have the skills to perform have been exported at every possible opportunity for the last thirty years. We’ve retrained and retrained and retrained while this has gone on, until now they only industries left are training ... or going further into debt funding education in the next career that will be offshored as soon as someone figures out how.



continued at Daily Kos...

Monday, September 6, 2010

EnergizeUS: Jobs for a New Century

by Energize US

 We hear talk about local energy production jobs and the young people along with those who want to retrain into a new industry get excited, but what does it all mean? What sort of jobs are there?

  This little photo diary will give you some sense of what is possible.



continued at Daily Kos....

Friday, September 3, 2010

We Need Clean Energy Jobs Now

by Congressman Paul Hodes

Yesterday, we learned that another oil rig exploded in the Gulf of Mexico. Thankfully, nobody was hurt and no oil has leaked into the Gulf as a result of the explosion.

But this most recent explosion happened less than five months after the tragic explosion at BP’s Deepwater Horizon oil rig, which killed 11 workers, dumped 4.9 billion barrels of oil into our waters and wreaked havoc on the local economies of Gulf communities.

The most dangerous thing these spills have in common is this: there were warnings that disaster might occur. Just like BP, Mariner Energy, who owns the oil rig that exploded yesterday, was cited for two safety violations in the past six months alone.

It’s clear now, more than ever, that we need to rethink America’s energy strategy.  We need to rethink the way we power our economy.



continued at Daily Kos....

Thursday, August 26, 2010

Solar's Bright Future in the US, assuming Incentives continue

by jamess

If you need a reason, to get out there, and get Democrats re-elected, here ya go ...

Solar Power: Brighter Long-Term Investment Outlook
Energy standards requiring U.S. utilities to use solar power could drive growth for companies ranging from inverter makers to installation financiers
David Bogoslaw, Bloomberg Businessweek, msnbc.com -- 8/25/2010

With U.S. installed capacity growing at a faster pace than that of the international market, the country may be on track to become a more dominant market by 2014, according to Larry Sherwood, an analyst at the Interstate Renewable Energy Council (IREC).

Some 23Gw of solar capacity are under development in the U.S., enough to provide electricity for 4.4 million households, according to the Solar Energy Industries Assn. (SEIA). Solar demand in the U.S. is expected to grow 75 percent in 2011, compared with 2010.

Sounds Great!    What's the catch?



continued at Daily Kos....

Sunday, August 22, 2010

An optimistic diary (for once)

by Jerome a Paris

I'm usually known as one of the doomers'n'gloomers round here, with diaries and comments on the economy heavily leaning towards negative views. And to a large extent, I still stand by these positions and fully expect (i) the economy to dive again and (ii) an even worse financial crisis coming our way.

I'm also part of the peak oil / peak resources crowd, and do not consider our current civilisation, especially as hundreds of millions in emerging markets rush to embrace it, to be sustainable. The Chinese and Indians and others cannot all live with the same resource consumption as we currently have in the West, and something will have to give at some point.

And this is a matter of years rather than decades, and most of us here will get to see that problem 'solve' itself. And of course, climate change adds a whole other dimension to that emergency.

But, surprisingly, I also have a number of arguments to be optimistic for the medium term, ie that let me hope that I will not spend my late years in poverty and/or in the middle of societal collapse.



continued at Daily Kos....

Friday, August 13, 2010

Gulf Recovery: "It's [still] the economy, stupid..."

by rb137

This week, Obama signed a $26 billion bill that eases state budget crises and saves 300,000 teachers and policemen from imminent layoffs. The trade-off was DOE's renewable energy and transmission loan-guarantee program: it lost $3.5 billion.

The WH assured Nancy Pelosi that they intend to restore the funds, and claimed there is enough money to support current projects, but the enthusiasm for this program has been tempered from the start. The Office of Management and Budget has been slow fund it, and it does not seem to connect guaranteeing capital to job creation and economic recovery. Harry Reid describes this trend here in a letter to President Obama.

Defecit hawks' war on spending is a war on the middle class, and the DOE's clean energy loan guarantee program is a prime example of how the government can support small businesses and create jobs. Access to working capital is the spine that supports "green economy" and "green jobs", and the lack of it stops the show.



continued at Daily Kos...

Sunday, July 25, 2010

JOBS! JOBS! JOBS! The political, economic, climate solution ...

by A Siegel

Since before the 2008 election, the core challenge for the incoming President was clear: JOBS! JOBS! JOBS!  

Yes, we were amid a collapse of the economic system, it required stabilization. JOBS! JOBS! JOBS!  

Yes, our energy situation was (is) a mess and the climate is boiling. JOBS! JOBS! JOBS!

Yes, our political system is broken. JOBS! JOBS! JOBS!

Yes, our health care is a mess. JOBS! JOBS! JOBS!

What is amazing is that sensible JOBS focused action can help on all the other fronts and set the stage for stronger action tomorrow.



continued at Daily Kos...

Tuesday, July 20, 2010

Gulf Citizens show their 'Signs of Trouble'

by jamess


Gallery: Signs of trouble
Oil spill victims find an outlet for anger about the crisis and resentment toward BP.

» LAUNCH PHOTO GALLERY

A WashingtonPost Photo Gallery ... for many more, Citizen Statements, in art.



continued at Daily Kos....

Monday, July 12, 2010

BP withholding Payments, to Prevent Fraud

by jamess


Ed Schultz was stunned by the recent about face of BP --

First they promise to make everyone whole --
Now they are saying hold on, there a minute partner --
Where are your Papers?


Ed Schultz -- BP: Broken Promises -- Fisherman Not Getting Paid

summarized transcript over the fold



continued at Daily Kos....

Wednesday, July 7, 2010

On Doom & Hope: An Action Diary

by Maggie Pax

All the news coming out of the Gulf of Mexico is horrific. Now, in the past few days, I've been reading how various scientists are warning that we may have less than one hundred years before civilization collapses, before (perhaps) the extinction of humanity. If we let this happen, we don't deserve to call ourselves homo sapiens.  

But worse than the news about the gulf, worse than the collapse of our oil-based economy, worse than Republican victories in the fall, Worse Than Anything, is our apparently innate desire to deny the evidence, blame others, and moan that nothing can be done.

Bullshit!

It may be that damage to our planet cannot be reversed. Scotty may be right when he cries, "Captain, I canna break the laws of physics!" But sometimes, all you need is a bigger hammer.

Sometimes, a lot of little hammers will do even better.



continued at Daily Kos....

Saturday, July 3, 2010

UPDATEx2: Obama announces $2 BILLION in solar power investments

by Eclectablog

Cross-posted at Eclectablog.com.

Oh, lordy, lordy. This is some very good news. From the President's Weekly Address (video after the jump.)

[T]oday, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.

The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States.  After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs right here in America.  In the short term, construction will create approximately 1,600 jobs in Arizona.  What’s more, over 70 percent of the components and products used in construction will be manufactured in the USA, boosting jobs and communities in states up and down the supply chain.  Once completed, this plant will be the first large-scale solar plant in the U.S. to actually store the energy it generates for later use – even at night.  And it will generate enough clean, renewable energy to power 70,000 homes.



continued at Daily Kos....

UPDATEx2: Obama announces $2 BILLION in solar power investments

by Eclectablog

Cross-posted at Eclectablog.com.

Oh, lordy, lordy. This is some very good news. From the President's Weekly Address (video after the jump.)

[T]oday, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.

The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States.  After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs right here in America.  In the short term, construction will create approximately 1,600 jobs in Arizona.  What’s more, over 70 percent of the components and products used in construction will be manufactured in the USA, boosting jobs and communities in states up and down the supply chain.  Once completed, this plant will be the first large-scale solar plant in the U.S. to actually store the energy it generates for later use – even at night.  And it will generate enough clean, renewable energy to power 70,000 homes.



continued at Daily Kos....

Thursday, June 10, 2010

Firm hired to handle BP claims boasts of "reducing payouts"

by ProgressiveSouth

Publicly, BP has said it intends to be generous in compensating those affected by the Gulf oil spill: CEO Tony Hayward has pledged to pay all "legitimate" claims resulting from the disaster, even offering to waive the $75 million cap on liability for economic damages.But to handle claims from the spill, BP has hired a risk-management company who advertises that a main benefit of its services is "reducing our clients' loss dollar pay-outs" -- a goal Gulf advocates say is in direct contradiction to Washington and BP's promises to fully compensate coastal residents for mounting economic losses.

continued at Daily Kos....

Tuesday, May 25, 2010

Final Update #16: The Week in Editorial Cartoons - BP's Brilliant PR Move

by JekyllnHyde

THE WEEK IN EDITORIAL CARTOONS This weekly diary takes a look at the past week's important news stories from the perspective of our leading editorial cartoonists (including a few foreign ones) with analysis and commentary added in by me. When evaluating a cartoon, ask yourself these questions: Does a cartoon add to my existing knowledge base and help crystallize my thinking about the issue depicted? Does the cartoonist have any obvious biases that distort reality? Is the cartoonist reflecting prevailing public opinion or trying to shape it? The answers will help determine the effectiveness of the cartoonist's message. :: :: John Cole, Scranton Times-Tribune, Buy this cartoon

continued at Daily Kos....