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Gene Ellis

The Electric Car's Short Circuit by Bjørn Lomborg - Project Syndicate - 0 views

  • Recent research indicates that electric cars may reach break-even price with hybrids only in 2026, and with conventional cars in 2032, after governments spend €100-150 billion in subsidies.
  • A life-cycle analysis shows that almost half of an electric car’s entire CO2 emissions result from its production, more than double the emissions resulting from the production of a gasoline-powered car.
  • Proponents proudly proclaim that if an electric car is driven about 300,000 kilometers (180,000 miles), it will have emitted less than half the CO2 of a gasoline-powered car. But its battery will likely need to be replaced long before it reaches this target, implying many more tons of CO2 emissions.
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  • Even if driven much farther, 150,000 kilometers, an electric car’s CO2 emissions will be only 28% less than those of a gasoline-powered car. During the car’s lifetime, this will prevent 11 tons of CO2 emissions, or about €44 of climate damage.CommentsView/Create comment on this paragraphGiven the size of the subsidies on offer, this is extremely poor value. Denmark’s subsidies, for example, pay almost €6,000 to avoid one ton of CO2 emissions. Purchasing a similar amount in the European Emissions Trading System would cost about €5. For the same money, Denmark could have reduced CO2 emissions more than a thousand-fold.
Gene Ellis

Germany and EU row over energy subsidies - FT.com - 0 views

  • Germany and EU row over energy subsidies
  • The dispute relates to the billions of euros of German public subsidies deployed to promote the energiewende shift to renewables while at the same time shielding heavy industry from the costs
  • Germany plans to generate up to 60 per cent of its electricity from renewable sources by 2035, as part of a radical shift in energy supply which involves a complete exit from nuclear power. The expansion of clean energy has been encouraged by a generous system of subsidies paid to renewables operators. These have been funded by surcharges that have left Germany with some of the highest household electricity bills in Europe.
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  • There is nothing new in the need to address possible discrimination of imported electricity by Germany,” he said. “If consumers have to pay a surcharge on their consumption of both domestic and imported electricity but revenue from the surcharge is used to only finance domestic electricity producers, there is a risk that imported electricity is disadvantaged and made comparatively more expensive.”
Gene Ellis

Utilities Switch Off Investment in Fossil Fuel Plants - NYTimes.com - 0 views

    • Gene Ellis
       
      Note:  a LARGE power station =s 40 direct jobs.
  • workers at the large power station known as Keadby 1 are preparing to shut it down at the end of the summer, with the loss of about 40 jobs.
  • fluctuations in global energy markets have made the natural gas power plant unprofitable
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  • It has also delayed new energy investments and is planning to close almost a quarter of its fossil fuel power plants,
  • European energy companies, struggling to respond to weak demand in a flatlining economy, say they need guaranteed pricing to keep open unprofitable plants or to invest in new ones.
  • Their revenue is being hit by dwindling demand for electricity and by new wind and solar projects that undercut the price of the energy produced from many fossil fuel plants.
  • At the same time, record-low prices on carbon emissions trading markets, which were introduced to encourage clean and efficient energy production and use, have perversely become a disincentive to investment.
  • Many of the Continent’s aging power stations, particularly those that burn highly polluting coal, are earmarked for closure by 2020 to meet stringent local environment regulations.
  • Without these investments, industrial companies in Europe may face higher energy prices when local economies eventually recover,
  • “Energy utilities are facing a perfect storm,”
  • In a bid to generate 20 percent of the European Union’s electricity from renewable sources by 2020, Germany, Spain and other E.U. countries have provided hefty subsidies to wind and solar farms, which now constitute a sizable minority of daily electricity generation, often surpassing the 20 percent target.
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      In effect, a cheaper overall form of energy (non-renewables) had to compete with heavy subsidies to renewables, which, once built, had low operating costs.  They cannot compete and do not invest, and there are major problems w/investing more in renewables (they are overall more expensive, and they have built-in faults, producing electricity erratically, or during the wrong times.)  The high costs of energy also lie with government, who cemented long-term deals with the ex-USSR linking other energy prices to the price of oil.  In short, they shot themselves in the foot.  Several times.
  • European utilities like E.On of Germany have announced plans to shut down less-polluting natural gas-fired plants that have been undercut by dirtier coal-burning generators benefiting from a flood of low-cost coal imports and low carbon emissions prices.
  • Despite the upfront costs associated with green energy projects, they are inexpensive to run. In contrast, Europe’s gas and coal plants, which also provide backup power when renewables cannot operate, need constant spending on fossil fuels.
  • Policy makers are debating a system of support payments to keep uneconomic power plants open,
  • “Without long-term signals of energy prices, investment won’t happen.”
  • Some analysts also expect domestic regulators to eventually create financial incentives for companies
Gene Ellis

As LED Industry Evolves, China Elbows Ahead - NYTimes.com - 0 views

  • As LED Industry Evolves, China Elbows Ahead
  • “LED lighting could see itself become the next solar, wind or other future opportunity that the U.S. will have given away by failing to address Chinese industrial policies and unfairly traded products,”
  • SolarWorld, a solar panel maker that complained to the American government about what it considered unfair advantages for Chinese competitors, was later the victim of a cyberattack by Chinese military officials, according to a recent indictment by the Justice Department.
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  • American, European and Chinese regulators have put in effect energy-efficiency rules that phase out the use of incandescent bulbs. Big multinationals that make light bulbs like Philips, Osram and General Electric have responded by embracing light-emitting diodes, which use one-fifth of the Electricity of incandescent bulbs and half the Electricity of fluorescent bulbs.
  • Many Chinese producers also have a poor and worsening reputation for quality, which may hurt them in the long term.
  • The industry, for instance, is highly segmented.
  • Lighting accounts for about 6 percent of the world’s emissions of greenhouse gases, and LEDs have the potential to steeply reduce them.
  • Prices have fallen by nearly half in the last year for low-end, low-wattage LEDs made in China, and by 15 to 20 percent for the higher-wattage versions made elsewhere, buyers and manufacturing executives said.
  • “We do not buy Chinese LEDs,” said Mike Pugh, the procurement director at Xicato in San Jose, Calif., a large provider of indoor lighting systems for retailers and hotels. “We just can’t take that chance.”
  • Xicato instead buys LEDs from multinationals like Cree of Durham, N.C.; Philips Lumileds, based in San Jose, Calif.; and Osram Opto Semiconductors of Regensburg, Germany.
  • Three-quarters of China’s electricity still comes from burning coal, which contributes to severe air pollution as well as global warming.
  • The Chinese LED industry has created tens of thousands of well-paid jobs for young community college graduates
  • She earns $500 a month plus medical benefits and free food and lodging in an air-conditioned dormitory where employees sleep four to six i
  • the solar and LED industries in China received huge loans at low interest rates from state-owned banks following directives from Beijing
Gene Ellis

At Anchor Off Lithuania, Its Own Energy Supply - NYTimes.com - 0 views

  • The price of natural gas in Lithuania was 15 percent higher than the European average last year, according to the European Commission. Only Bulgaria, where Gazprom has a near monopoly, paid more. Gazprom also has an ownership stake in Lithuania’s natural gas distribution network. Part of Lithuania’s electrical infrastructure is still controlled from Moscow, too, and it is not yet possible to connect the country to the European grid.
  • Lithuania also does not use oil shale, which provides much of the electricity for Estonia, the third Baltic member of the European Union.
  • Lithuania used to rely on nuclear power to supply most of its electricity. But as a condition of joining the union in 2004, the country agreed to shut down its Chernobyl-style nuclear power station at Ignalina.
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  • Klaipedos Nafta, a state-controlled oil terminal operator, is leasing the ship, formally known as a floating gas storage and regasification unit, from a Norwegian company, Hoegh, in a 10-year deal for 430 million euros, or $560 million.
  • Lithuania would need to import L.N.G. at prices 5 to 10 percent less than Gazprom charges for its gas to ensure the project breaks even; Lithuanian officials said the price of L.N.G. imports could be as much as 20 percent less than Gazprom charges.
  • “We will be able for the first time in our history to negotiate, because we have alternative sources,”
  • But Mr. Masiulis said his greatest challenge was overcoming the Lithuanian bureaucracy and fending off attempts to give the project “a shade of corruption.”
Gene Ellis

Tennessee Valley Authority to close 8 coal-fired power units - The Washington Post - 0 views

  • The Tennessee Valley Authority, one of the nation’s five biggest users of coal for electricity generation, said Thursday it would close down eight coal-fired power units with 3,300 megawatts of capacity.
  • Many of the plants were more than 50 years old, and under a consent decree between the TVA, four state governments and the Sierra Club, the authority was required to install additional pollution control equipment known as scrubbers or shut down the plants
  • Johnson said that electricity demand has dropped nearly 10 percent over the past five years., half of that because one company, USEC, which produced and sold enriched uranium for commercial nuclear power plants, ceased its energy-intensive operations.
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  • “There has been a significant reduction in demand over four or five years, and we don’t see robust demand in the future.”
Gene Ellis

General Electric Adds to Its 'Industrial Internet' - NYTimes.com - 0 views

  • “The rise of industrial big data is moving at twice the speed of other big data. That’s a great opportunity.” said William Ruh, the head of global software at G.E. “There’s all kinds of experiences that we’re going to create.”
  • The other is a kind of application software to help power companies figure out how to best build out and operate their turbines. By October, G.E. hopes to have similar applications out for railway, mining, and oil and gas companies.
  • Effectively, G.E. is taking the data-driven tools and strategies used by Google and Facebook to the much larger global economy.
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  • G.E. already manages more than 100 million data-gathering “tags” on its products, and foresees putting out far more than that while also collecting sensor data around the surrounding environment.
  • By 2020, GE figures, total spending on the Industrial Internet will be $23 billion. Better management of processes and understanding of systems will yield $1.279 trillion in value, the company said.
  • What G.E. does not yet have nailed is just how its new products will be used.
  • Cisco Systems is in the middle of an “Internet of Everyhing” strategy that involves selling software and services for a world rich in sensors. This is aimed more at things like traffic and water systems than manufacturing, however.
  • Phillips is also offering data-gathering connectivity in both its health care and lighting products, hoping to boost the efficiency of things like a patient’s medication adherence, or tuning lights
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  • “Everybody knows they’ll need this technology, but they don’t know exactly what they’ll do with it yet,”
Gene Ellis

EU energy market: Pipe dream - FT.com - 0 views

  • EU energy market: Pipe dream
  • A more competitive market also means importing new sources of gas from Azerbaijan and the eastern Mediterranean, as well as building terminals for liquefied natural gas.
  • France’s nuclear industry was also reticent about cheap renewable energy streaming into the French grid on an uncertain timetable.
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  • Spain’s grid is barely connected to France so its wind farms cannot export their production when it exceeds domestic demand. Similarly, solar and wind energy from southern Italy is wasted because it is not effectively linked to the industrial north.
  • Full energy convergence needs more than interconnectors. Widely divergent electricity prices are often determined by national tax rates. Grids that can respond to demand further afield in a continent-wide “supergrid” will need more direct (rather than alternating) current infrastructure. While it took Spain and France more than three decades to build a 64.5km interconnection, some 52,000km of lines need to be built or upgraded across the continent.
  • Poland argues that Gazprom has confidential data on each country it deals with, knowing its gas prices and infrastructure vulnerabilities. It can then use this data to its advantage, pushing some countries into more onerous contracts than others.
  • The advantage of a hub would become more apparent when new supplies from Azerbaijan and the eastern Mediterranean are integrated into the market by means of the so-called southern corridor supply route.
  • Geoffrey Feasey of the European Network of Transmission Systems Operators for Electricity says one-third of the most vital projects to connect Europe are being held up by “permitting and public acceptance”.
Gene Ellis

Weaning Europe From Russian Gas - NYTimes.com - 1 views

  • Weaning Europe From Russian Gas
  • European Union leaders at a summit meeting last week made a commitment to cut their dependence on Russian gas.
  • Russia gets about 14 percent of its entire export earnings from the gas it sells to other European countries.
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  • Some countries in Central Europe — such as Austria and the Czech Republic — and the Balkans would run out of gas they import through Ukraine.
  • that Russia cuts supplies of gas through Ukraine but continues pumping it through its other two pipelines to the West — one through the Baltic and the other through Poland.
  • In such a scenario,
  • The European Union also responded to the 2009 shutdown by building “interconnectors” between different countries. As a result, it is easier to shunt gas and electricity from countries that have excess energy to those that face a shortage — though these connections are still patchy and need to be built up.
  • n the short run, European Union countries can use more coal and less gas in their electricity generation.
  • The European Union can also increase imports of liquefied natural gas, mainly from Qatar. But there are problems. First, most of the Union’s L.N.G. terminals are in Western Europe, whereas it is the eastern part of the Union that is most vulnerable to a cutoff of Russian gas. So more terminals need to be built, which takes time. What’s more, L.N.G. is expensive — partly because Japan is buying lots of it after closing its nuclear plants in the wake of the Fukushima disaster.
  • Longer term, European Union nations should embrace shale gas. It is cheap and local. Britain and Poland have the most potential.
  • Meanwhile, countries such as Germany should abandon their knee-jerk aversion to nuclear energy.
  • The problem is not the carbon goal, said Raoul Ruparel of Open Europe, a research institute. Rather it is the renewable target, which results in uneconomic wind and solar power being built across the Union.
Gene Ellis

Blueprints for Taming the Climate Crisis - NYTimes.com - 0 views

  • Blueprints for Taming the Climate Crisis
  • Within about 15 years every new car sold in the United States will be electric. In fact, by midcentury more than half of the American economy will run on electricity. Up to 60 percent of power might come from nuclear sources. And coal’s footprint will shrink drastically, perhaps even disappear from the power supply.
  • “This will require a heroic cooperative effort,” said Jeffrey D. Sachs, the Columbia University economist who directs the Sustainable Development Solutions Network at the United Nations,
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  • The teams, one in each of the 15 countries, looked at what would be necessary to keep the atmosphere from warming more than 2 degrees Celsius, 3.6 degrees Fahrenheit, above the preindustrial average of the late 19th century, a target that most of the world committed to at the climate summit meeting in Copenhagen five years ago.
  • To do so, CO2 emissions from industry and energy use would have to fall to at most 1.6 tons a year for every person on the planet by midcentury.
  • That is less than a tenth of annual American emissions per person today and less than a third of the world average
  • Lacking any understanding of the feasibility of the exercise, governments postured and jockeyed over which country should be responsible for what
  • This is not achievable by going after low-hanging fruit, such as replacing coal with natural gas in power plants.
  • The decarbonization paths rely on aggressive assumptions about our ability to deploy new technologies on a commercial scale economically.
  • Russia, for instance, hit the target. But Oleg Lugovoy of the Environmental Defense Fund, who worked on the Russian plan, observed that “if we don’t have carbon capture and storage we would have to reconsider.”
  • it does not do away with the main hitch that has stumped progress for decades: How much will this all cost and who will pay for it?
Gene Ellis

Suntech Power on Financial Brink - NYTimes.com - 0 views

  • Suntech announced Tuesday that it was closing its factory in Goodyear, Arizona, at the cost of 43 jobs there. The factory put aluminum frames and electrical junction boxes on solar cells imported from China, so that the fully assembled solar panels would qualify for “Buy American” programs.
  • But China’s approach to renewable energy has proved ruinous, both financially and in terms of trade relations with the United States and the European Union. State-owned banks have provided $18 billion in loans on easy terms to Chinese solar panel manufacturers, financing an increase of more than tenfold in production capacity from 2008 to 2012. This set off a 75 percent drop in panel prices over the same period, which resulted in Chinese companies’ losing as much as $1 for every $3 in sales last year.
  • he United States has responded with tariffs of about 40 percent on solar cells and solar panels from China,
Gene Ellis

Nathan Myhrvold: The Wealthy Should Fund Innovation | MIT Technology Review - 0 views

  • Let’s be clear: conventional nuclear energy has drawbacks, principally that it relies on enriched uranium. That’s problematic for several reasons. In the first place, there’s not that much uranium: if you tried to scale conventional nuclear energy to meet the world’s energy needs, you’d run out.
  • In the U.S., more than 700,000 metric tons of depleted uranium—the by-product of enrichment—sits in storage.
  • TerraPower’s technology is designed to use that depleted uranium as fuel, turning the cheap by-product of today’s reactors into enough electricity to power every home in America for 1,000 years.
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  • he technology would also virtually eliminate the need for new enrichment facilities, which is important because enriched uranium is a proliferation risk.
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    Nuclear fuel possibilities...
Gene Ellis

Fear of Fracking by Jeffrey Frankel - Project Syndicate - 0 views

  • CAMBRIDGE – Against all expectations, US emissions of carbon dioxide into the atmosphere, since peaking in 2007, have fallen by 12% as of 2012, back to 1995 levels. The primary reason, in a word, is “fracking.”
  • Just ten years ago, the natural-gas industry was so sure that domestic production was reaching its limit that it made large investments in terminals to import liquefied natural gas (LNG). Yet fracking has increased supply so rapidly that these facilities are now being converted to export LNG.
  • Natural gas emits only half as much CO2 as coal, and occupies a rapidly increasing share of electricity generation – up 37% since 2007, while coal’s share has plummeted by 25%.
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  • Meanwhile, the share of coal – the dirtiest fuel – has been rising, not falling, in the rest of the world’s energy mix.
  • Moving beyond economics, America’s reduction in net energy imports – which have already fallen by one-half since 2007 – means that its foreign policy will be less constrained by events in the Middle East. In Europe, the new technology could similarly break Russia’s politically troublesome stranglehold on natural-gas supplies.
  • Put differently, if the world continues to build coal-fired power plants at the current rate, those plants will still be around in 2050, regardless of what other technologies become viable in the meantime.
  • Even a serious fracking mishap would be unlikely to cause as much damage as the Deepwater Horizon oil spill in 2010, the Fukushima nuclear catastrophe in 2011, or coal-mining tragedies that play out dramatically in frequent explosions and collapses (and more insidiously in the form of lung disease, water pollution, and soil erosion).
Gene Ellis

What If We Never Run Out of Oil? - Charles C. Mann - The Atlantic - 1 views

shared by Gene Ellis on 01 May 13 - No Cached
  • Walking around town, my friend and I had noticed that almost every home had a pile of coal outside, soft dark chunks that people shoveled into stoves for cooking and heating. Thousands upon thousands of coal fires were loading the air with tiny dots of soot. Scientists have taken to calling these dots “black carbon,” and have steadily ratcheted up their assessments of its harm. In March, for instance, a research team led by a Mumbai environmental group estimated that black carbon and other particulate matter from India’s coal-fired power plants cause about 100,000 deaths a year.
  • A 31-scientist team from nine nations released a comprehensive, four-year assessment in January arguing that planetary black-carbon output is the second-biggest driver of anthropogenic (human-caused) climate change; the little black specks I found on my glasses and clothes have roughly two-thirds the impact of carbon dioxide.
  • The rule of thumb is that if a well leaks more than about 3 percent” of its methane production into the air, “natural gas actually becomes dirtier than coal, from a climate-change perspective,
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  • Worse still, the aging natural-gas infrastructure is riddled with holes and seeps; early this year, a survey of gas mains along Boston’s 785 miles of road, the first-ever such examination, found 3,356 leaks.
  • What we can’t do, or at least not readily, is overcome the laws of economics.
  • As an example, typical solar cells today have an EROEI of about 10—better than tar sands but worse than most oil and gas.
  • One recent estimate put the EROEI of Spain’s extensive solar-power network at less than 3.
  • When renewables supply 20 to 30 percent of all electricity, many utility-energy engineers predict, the system will no longer be able to balance supply and demand. Brownouts will ripple across the landscape
  • To ask utilities to take in large amounts of solar power
  • is like asking a shipping firm to replace its huge, professionally staffed container ships with squadrons of canoes paddled by random adolescents.
  • But even if such techniques work in the way researchers hope, the infrastructure transformation ahead is daunting in scale and scope. It’s like setting up a second Industrial Revolution, only all over the world and in one-third the time.
Gene Ellis

A Fracking Good Story by Bjørn Lomborg - Project Syndicate - 0 views

  • Carbon-dioxide emissions in the United States have dropped to their lowest level in 20 years.
  • this year’s expected CO2 emissions have declined by more than 800 million tons, or 14%, from their peak in 2007.
  • The cause is an unprecedented switch to natural gas, which emits 45% less carbon per energy unit. The US used to generate about half its electricity from coal, and roughly 20% from gas. Over the past five years, those numbers have changed, first slowly and now dramatically: in April of this year, coal’s share in power generation plummeted to just 32%, on par with gas.
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  • For starters, fracking has caused gas prices to drop dramatically.
  • Indeed, US carbon emissions have dropped some 20% per capita, and are now at their lowest level since Dwight D. Eisenhower left the White House in 1961.
  • the shift from coal to natural gas has reduced US emissions by 400-500 megatonnes (Mt) of CO2 per year. To put that number in perspective, it is about twice the total effect of the Kyoto Protocol on carbon emissions in the rest of the world, including the European Union.
  • America’s 30,000 wind turbines reduce emissions by just one-tenth the amount that natural gas does. Biofuels reduce emissions by only ten Mt, and solar panels by a paltry three Mt.
  • Since 1990, the EU has heavily subsidized solar and wind energy at a cost of more than $20 billion annually. Yet its per capita CO2 emissions have fallen by less than half of the reduction achieved in the US – even in percentage terms, the US is now doing better.
  • Along with the closure of German nuclear power stations, this has led, ironically, to a resurgence of coal.
Gene Ellis

What If We Never Run Out of Oil? - Charles C. Mann - The Atlantic - 0 views

  • In most cases, mining tar sands involves drilling two horizontal wells, one above the other, into the bitumen layer; injecting massive gouts of high-pressure steam and solvents into the top well, liquefying the bitumen; sucking up the melted bitumen as it drips into the sand around the lower well; and then refining the bitumen into “synthetic crude oil.”
  • Economists sometimes describe a fuel in terms of its energy return on energy invested (EROEI), a measure of how much energy must be used up to acquire, process, and deliver the fuel in a useful form. OPEC oil, for example, is typically estimated to have an EROEI of 12 to 18, which means that 12 to 18 barrels of oil are produced at the wellhead for every barrel of oil consumed during their production. In this calculation, tar sands look awful: they have an EROEI of 4 to 7. (Steaming out the bitumen also requires a lot of water. Environmentalists ask, with some justification, where it all is going to come from.)
  • To obtain shale gas, companies first dig wells that reach down thousands of feet. Then, with the absurd agility of anime characters, the drills wriggle sideways to bore thousands of feet more through methane-bearing shale. Once in place, the well injects high-pressure water into the stone, creating hairline cracks. The water is mixed with chemicals and “proppant,” particles of sand or ceramic that help keep the cracks open once they have formed. Gas trapped between layers of shale seeps past the proppant and rises through the well to be collected.
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  • Water-assisted fracturing has been in use since the late 1940s, but it became “fracking” only recently, when it was married with horizontal drilling and the advanced sensing techniques that let it be used deep underground. Energy costs are surprisingly small; a Swiss-American research team calculated in 2011 that the average EROEI for fracked gas in a representative Pennsylvania county was about 87—about six times better than for Persian Gulf oil and 16 times better than for tar sands. (Fracking uses a lot of water, though, and activists charge that the chemicals contaminate underground water supplies.)
  • Today, a fifth of U.S. energy consumption is fueled by coal, mainly from Appalachia and the West, a long-term energy source that has provided jobs for millions, a century-old way of life
  • and pollution that kills more than 10,000 Americans a year (that estimate is from a 2010 National Research Council study).
  • Roughly speaking, burning coal produces twice as much carbon dioxide as burning the equivalent amount of natural gas. Almost all domestic coal is used to generate electricity—it produces 38 percent of the U.S. power supply. Fracking is swiftly changing this: in 2011, utilities reported plans to shut down 57 of the nation’s 1,287 coal-fired generators the following year. Largely in consequence, U.S. energy-related carbon-dioxide emissions have dropped to figures last seen in 1995. Since 2006, they have fallen more than those from any other nation in the world.
  • In the sort of development that irresistibly attracts descriptors like ironic, Germany, often touted as an environmental model for its commitment to solar and wind power, has expanded its use of coal, and as a result is steadily increasing its carbon-dioxide output. Unlike Americans, Europeans can’t readily switch to natural gas; Continental nations, which import most of their natural gas, agreed to long-term contracts that tie its price to the price of oil, now quite high.
  • Several researchers told me that the current towel-snapping between Beijing and Tokyo over islands in the East China Sea is due less to nationalistic posturing than to nearby petroleum deposits.)
  • In mid-March, Japan’s Chikyu test ended a week early, after sand got in the well mechanism. But by then the researchers had already retrieved about 4 million cubic feet of natural gas from methane hydrate, at double the expected rate.
  • What is known, says Timothy Collett, the energy-research director for the USGS program, is that some of the gulf’s more than 3,500 oil and gas wells are in gas-hydrate areas.
  • In Dutch-disease scenarios, oil weakens all the pillars but one—the petroleum industry, which bloats steroidally.
  • Because the national petroleum company, with its gush of oil revenues, is the center of national economic power, “the ruler typically puts a loyalist in charge,” says Michael Ross, a UCLA political scientist and the author of The Oil Curse (2012). “The possibilities for corruption are endless.” Governments dip into the oil kitty to reward friends and buy off enemies. Sometimes the money goes to simple bribes; in the early 1990s, hundreds of millions of euros from France’s state oil company, Elf Aquitaine, lined the pockets of businessmen and politicians at home and abroad.
  • How much of Venezuela’s oil wealth Hugo Chávez hijacked for his own political purposes is unknown, because his government stopped publishing the relevant income and expenditure figures. Similarly, Ross points out, Saddam Hussein allocated more than half the government’s funds to the Iraq National Oil Company; nobody has any idea what happened to the stash, though, because INOC never released a budget. (Saddam personally directed the nationalization of Iraqi oil in 1972, then leveraged his control of petroleum revenues to seize power from his rivals.)
  • “How will the royal family contain both the mullahs and the unemployed youth without a slush fund?”
  • It seems fair to say that if autocrats in these places were toppled, most Americans would not mourn. But it seems equally fair to say that they would not necessarily be enthusiastic about their replacements.
Gene Ellis

The iEconomy - Nissan's Move to U.S. Offers Lessons for Tech Industry - NYTimes.com - 0 views

  • Since its first pickup truck rolled off the line here on June 16, 1983, Nissan has produced more than seven million vehicles in the United States. It now employs 15,000 people in this country. It makes more than a half-million cars, trucks and S.U.V.’s a year, with the plant in Smyrna building six models, including the soon-to-be-produced, all-electric Nissan Leaf.
  • Could the Japanese car companies achieve the same quality using American workers?
  • including currency fluctuations that made exporting more expensive. The final push came from American anger as imports grabbed one-fourth of the United States market.
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  • “The pressure put on the Japanese was absolutely critical for them to agree to export restraints,”
Gene Ellis

The Long Bright Path to the Nobel Prize for LED Lighting - NYTimes.com - 0 views

  • In its announcement, the academy recalled Alfred Nobel’s desire that his prize be awarded for something that benefited humankind, noting that one-fourth of the world’s electrical energy consumption goes to producing light.
Gene Ellis

Europe, Facing Economic Pain, May Ease Climate Rules - NYTimes.com - 0 views

  • Europe, Facing Economic Pain, May Ease Climate Rules
  • On Wednesday, the European Union proposed an end to binding national targets for renewable energy production after 2020. Instead, it substituted an overall European goal that is likely to be much harder to enforce.
  • 14 executives at large companies called for “one single, realistic target” and warned that “the high-cost of noncompetitive technologies to decarbonise the power sector” will strain businesses already hit by Europe’s high energy prices, particularly for electricity, which costs twice what it does in the United States.
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