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Javier E

China's Extreme Floods and Heat Ravage Farms and Kill Animals - The New York Times - 0 views

  • unusually heavy rainfall, which local officials said was the worst disruption to the wheat harvest in a decade, underscored the risks that climate shocks pose to President Xi Jinping’s push for China to become more self-reliant in its food supply.
  • Ensuring China’s ability to feed 1.4 billion people is a key piece of Mr. Xi’s goal of leading the country to superpower status. In recent years, tensions with the United States, the coronavirus pandemic and Russia’s war on Ukraine have all created more volatility in global food prices, heightening the urgency for China to grow more of its own crops.
  • officials are concerned about the vulnerability of its food supply to global shocks. Last summer, prices for pork, fruit and vegetables spiked in China, prompting the government to release pork from its strategic reserves to stabilize prices. Afterward, Chinese leaders reiterated their call to prioritize food security.
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  • In a country where famines have destabilized dynasties throughout history, the ruling Communist Party is also aware that fulfilling basic needs is a prerequisite for political stability.
  • Already, farmland in China is shrinking, as rapid urbanization has polluted large swaths of the country’s soil and governments have sold rural land to developers. The distribution of water between northern and southern China is uneven, leaving some crop-growing regions vulnerable to droughts and others to flooding.
  • The war in Ukraine has threatened China’s access to wheat and fertilizers. And a trade war with the United States that began in 2018 made it more expensive for China to buy soybeans and other foods from America.
  • The Chinese government frequently points out that it has to feed one-fifth of the world’s population with less than 10 percent of the world’s arable land.
  • To create a more stable food supply, China has stockpiled crops and purchased more farmland overseas. It has been developing heat-resistant rice strains, genetically modified soybeans and new seed technologies, an effort that has triggered accusations of intellectual property theft from the United States.
  • “But when extreme weather conditions happen, it not only creates damage, but it’s also very expensive to fix.”
  • the most recent fears about food security stemmed from the flooding in Henan Province and the surrounding regions in central China, which produce more than three-quarters of the country’s wheat.
  • The rains hit just as farmers were preparing to begin this year’s harvest, causing some of the wheat to sprout. This lower-quality wheat is unsuitable to process into flour and is typically sold at a lower price as animal feed.
  • The extent of the damage to this year’s crop is still unclear. A lower wheat yield could force China to import more wheat this year and raise global grain prices
  • China is the world’s largest producer and consumer of wheat. Demand has risen along with incomes as people in cities buy more Western-style breads and desserts. Soaring meat consumption in China has also necessitated more wheat, which is used for animal feed.
  • China’s fixation on food security has global implications, in large part because it maintains huge stockpiles of food, including what the U.S. Department of Agriculture estimates is about half of the world’s wheat reserves.
  • Gauging the stability of China’s food supply is difficult because information about the exact quantity and quality of its crop stockpiles is treated like a state secret. Although the country’s official data regularly shows record high wheat output, for instance, analysts have questioned the reliability of the data.
  • In response to the accusations by Western countries that China was hoarding food, a commentary published in The Economic Daily, a state-controlled newspaper, revealed that China had enough wheat and rice reserves to feed its people for at least 18 months, which the article suggested was a reasonable amount of stockpiling.
Javier E

China has built a global network of ports critical to trade - Washington Post - 0 views

  • A decade ago, Chinese President Xi Jinping launched the Maritime Silk Road, the oceanic component of his flagship Belt and Road Initiative aimed at improving China’s access to world markets by investing in transportation infrastructure
  • China has already secured a significant stake in a network of global ports that are central to world trade and freedom of navigation. Although the stated goal of the investments was commercial, the United States and its allies have grown increasingly concerned about the potential military implications.
  • Xi has frequently talked of his ambition to turn China into a “maritime superpower.” The port network offers a glimpse into the reach of those ambitions.
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  • A decade later, China owns or operates ports and terminals at nearly 100 locations in over 50 countries, spanning every ocean and every continent. Many are located along some of the world’s most strategic waterways.
  • The majority of the investments have been made by companies owned by the Chinese government, effectively making Beijing and the Chinese Communist Party the biggest operator of the ports that lie at the heart of global supply chains.
  • But the investments go beyond that. They give Beijing a window into the business dealings of competitors and could be used to help China defend its supply routes, spy on U.S. military movements and potentially engage U.S. shipping, according to analysts
  • Strait of HormuzLeaked U.S. intelligence documents earlier this year suggested that China has revived an effort to establish military facilities at the United Arab Emirates port of Khalifa in the Persian Gulf, by the crucial Strait of Hormuz and just 50 miles away from an important U.S. military base.
  • Beijing is decades away from matching the U.S. military presence worldwide, but China has the biggest and fastest-growing navy in the world, and increasingly it is venturing beyond the shores of eastern Asia.
  • From having no naval presence in the Indian Ocean two decades ago, for instance, China now maintains six to eight warships in the region at any given time
  • A route for some major shipping lanes and global ports, the Indian Ocean was an early priority for China. About 80 percent of China’s trade crosses the ocean, including almost all of its oil. China’s port investments seem designed to protect the route. Beijing, for instance, has secured a 99-year lease at the port of Hambantota in Sri Lanka, giving it an important foothold on the busy shipping lane between Asia and the West.
  • In late 2015, China acknowledged it was building a military base adjacent to the Chinese-operated port of Djibouti. The African base was officially opened in 2017, only six miles away from a U.S. military base in the country. Located at the narrow entrance to the Red Sea, Djibouti is on one of the busiest shipping lanes in the world, where about 10 percent of global oil exports and 20 percent of commercial goods pass through the narrow strait to and from the Suez Canal.
  • Persian Gulf and Red SeaChina’s interest in these port locations goes beyond purely commercial concerns, U.S. officials say. Many are located at strategic chokepoints with high shipping traffic. At these locations, sea routes are narrow and ships are potentially vulnerable.
  • DjiboutiChina has already established one military facility adjoining a commercial port operation, in Djibouti, at the mouth of the Red Sea. U.S. officials say there are indications that it is scouting for more.
  • Suez CanalBeijing has also been growing its influence in ports on Egypt’s Suez Canal, a vital human-built waterway that provides a shortcut from Asia to Europe. Earlier this year, Chinese shipping companies announced investments in terminals at the ports of Ain Sokhna and Alexandria
  • EuropeChina already controls or has major investments in more than 20 European ports, giving it significant sway over the continent’s supply routes. Many serve as vital logistics and transshipment points for NATO and the U.S. Navy. “It’s a significant national and economic security concern,”
  • Logink portsOne way in which China has secured a commanding position is through a little-known software system called Logink, a digital logistics platform owned by the Chinese government. So far, at least 24 ports worldwide, including Rotterdam and Hamburg, have adopted the Logink system.
  • Logink potentially gives China access to vast quantities of normally proprietary information on the movements, management and pricing of goods moving around the world. The U.S. Transportation Department issued an advisory in August warning U.S. companies and agencies to avoid interacting with the system because of the risk of espionage and cyberattack.
  • The AmericasThe original Maritime Silk Road, as laid out in Chinese documents, focused on three main routes. The plan has expanded to include the Atlantic and the Americas. Latin America is one of the fastest-growing destinations for Chinese port investments. China manages ports at both ends of the Panama Canal. It is building from scratch a $3 billion megaport at Chancay in Peru that will transform trade between China and Latin America, enabling the world’s largest shipping containers to dock on the continent for the first time.
  • The United States is still the world’s biggest military power, with about 750 bases overseas. China, with only one, is a long way from matching U.S. naval power, said Stephen Watts of the Rand Corp. “The implications of these far-flung bases have been overblown,” he said. “China would be easily overcome in these small outposts if it came to a shooting match.”
  • But China’s port network presents a different kind of challenge to U.S. security interests, separate from the threat of war, said Isaac Kardon of the Carnegie Endowment for International Peace. China is now the world’s premier commercial maritime power, and its strategic hold over the world’s supply routes could be used to interdict or restrict U.S. trade, troop movements and freedom of navigation in a range of different ways. “It’s an asymmetrical threat,”
Javier E

Excuse me, but the industries AI is disrupting are not lucrative - 0 views

  • Google’s Gemini. The demo video earlier this week was nothing short of amazing, as Gemini appeared to fluidly interact with a questioner going through various tasks and drawings, always giving succinct and correct answers.
  • another huge new AI model revealed.
  • that’s. . . not what’s going on. Rather, they pre-recorded it and sent individual frames of the video to Gemini to respond to, as well as more informative prompts than shown, in addition to editing the replies from Gemini to be shorter and thus, presumably, more relevant. Factor all that in, Gemini doesn’t look that different from GPT-4,
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  • Continued hype is necessary for the industry, because so much money flowing in essentially allows the big players, like OpenAI, to operate free of economic worry and considerations
  • The money involved is staggering—Anthropic announced they would compete with OpenAI and raised 2 billion dollars to train their next-gen model, a European counterpart just raised 500 million, etc. Venture capitalists are eager to throw as much money as humanely possible into AI, as it looks so revolutionary, so manifesto-worthy, so lucrative.
  • While I have no idea what the downloads are going to be for the GPT Store next year, my suspicion is it does not live up to the hyped Apple-esque expectation.
  • given their test scores, I’m willing to say GPT-4 or Gemini is smarter along many dimensions than a lot of actual humans, at least in the breadth of their abstract knowledge—all while noting even leading models still have around a 3% hallucination rate, which stacks up in a complex task.
  • A more interesting “bear case” for AI is that, if you look at the list of industries that leading AIs like GPT-4 are capable of disrupting—and therefore making money off of—the list is lackluster from a return-on-investment perspective, because the industries themselves are not very lucrative.
  • What are AIs of the GPT-4 generation best at? It’s things like:writing essays or short fictionsdigital artchattingprogramming assistance
  • As of this writing, the compute cost to create an image using a large image model is roughly $.001 and it takes around 1 second. Doing a similar task with a designer or a photographer would cost hundreds of dollars (minimum) and many hours or days (accounting for work time, as well as schedules). Even if, for simplicity’s sake, we underestimate the cost to be $100 and the time to be 1 hour, generative AI is 100,000 times cheaper and 3,600 times faster than the human alternative.
  • The issue is that taking the job of a human illustrator just. . . doesn’t make you much money. Because human illustrators don’t make much money
  • While you can easily use Dall-E to make art for a blog, or a comic book, or a fantasy portrait to play an RPG, the market for those things is vanishingly small, almost nonexistent
  • While I personally wouldn’t go so far as to describe current LLMs as “a solution in search of a problem” like cryptocurrency has famously been described as, I do think the description rings true in an overall economic/business sense so fa
  • Was there really a great crying need for new ways to cheat on academic essays? Probably not. Will chatting with the History Buff AI app (it was is in the background of Sam Altman’s presentation) be significantly different than chatting with posters on /r/history on Reddit? Probably not
  • Search is the most obvious large market for AI companies, but Bing has had effectively GPT-4-level AI on offer now for almost a year, and there’s been no huge steal from Google’s market share.
  • What about programming? It’s actually a great expression of the issue, because AI isn’t replacing programming—it’s replacing Stack Overflow, a programming advice website (after all, you can’t just hire GPT-4 to code something for you, you have to hire a programmer who uses GPT-4
  • Even if OpenAI drove Stack Overflow out of business entirely and cornered the market on “helping with programming” they would gain, what? Stack Overflow is worth about 1.8 billion, according to its last sale in 2022. OpenAI already dwarfs it in valuation by an order of magnitude.
  • The more one thinks about this, one notices a tension in the very pitch itself: don’t worry, AI isn’t going to take all our jobs, just make us better at them, but at the same time, the upside of AI as an industry is the total combined worth of the industries its replacing, er, disrupting, and this justifies the massive investments and endless economic optimism.
  • It makes me worried about the worst of all possible worlds: generative AI manages to pollute the internet with cheap synthetic data, manages to make being a human artist / creator harder, manages to provide the basis of agential AIs that still pose some sort of existential risk if they get intelligent enough—all without ushering in some massive GDP boost that takes us into utopia
  • If the AI industry ever goes through an economic bust sometime in the next decade I think it’ll be because there are fewer ways than first thought to squeeze substantial profits out of tasks that are relatively commonplace already
  • We can just look around for equivalencies. The payment for humans working as “mechanical turks” on Amazon are shockingly low. If a human pretending to be an AI (which is essentially what a mechanical turk worker is doing) only makes a buck an hour, how much will an AI make doing the same thing?
  • , is it just a quirk of the current state of technology, or something more general?
  • What’s written on the internet is a huge “high quality” training set (at least in that it is all legible and collectable and easy to parse) so AIs are very good at writing the kind of things you read on the internet
  • But data with a high supply usually means its production is easy or commonplace, which, ceteris paribus, means it’s cheap to sell in turn. The result is a highly-intelligent AI merely adding to an already-massive supply of the stuff it’s trained on.
  • Like, wow, an AI that can write a Reddit comment! Well, there are millions of Reddit comments, which is precisely why we now have AIs good at writing them. Wow, an AI that can generate music! Well, there are millions of songs, which is precisely why we now have AIs good at creating them.
  • Call it the supply paradox of AI: the easier it is to train an AI to do something, the less economically valuable that thing is. After all, the huge supply of the thing is how the AI got so good in the first place.
  • AI might end up incredibly smart, but mostly at things that aren’t economically valuable.
malonema1

The Crazy Demand Driving Industrial Real Estate Expected To Slow - 0 views

  • Demand continues to outpace supply, and major retailers and users persist in their scramble for warehouse and distribution space nearer to customers
  • “I think 2017 is still going to see rising rents and supply-demand imbalance that will lead to shrinking vacancies, but the magnitude will get a bit smaller this year,” Egan said.
julia rhodes

Its Great Lake Shriveled, Iran Confronts Crisis of Water Supply - NYTimes.com - 0 views

  • Iran is facing a water shortage potentially so serious that officials are making contingency plans for rationing in the greater Tehran area, home to 22 million, and other major cities around the country. President Hassan Rouhani has identified water as a national security issue, and in public speeches in areas struck hardest by the shortage he is promising to “bring the water back.”
  • Iran’s water troubles extend far beyond Lake Urmia, which as a salt lake was never fit for drinking or agricultural use. Other lakes and major rivers have also been drying up, leading to disputes over water rights, demonstrations and even riots.
  • Dam construction was given renewed emphasis under Mr. Rouhani’s predecessor as president, Mahmoud Ahmadinejad, who as an engineer had a weakness for grand projects. Another driving force is the Islamic Revolutionary Guards Corps, which through its engineering arm, Khatam al-Anbia Construction, builds many of the dams in Iran and surrounding countries.
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  • Most people in the area blame the half-dozen major dams the government has built in the region for the lake’s disappearance. The dams have greatly reduced the flow of water in the 11 rivers that feed into the lake. As an arid country with numerous lofty mountain chains, Iran has a predilection for dams that extends to the reign of Shah Mohammed Reza Pahlavi.
  • In a 2005 book that he wrote on national security challenges for Iran, Mr. Rouhani estimated that 92 percent of Iran’s water is used for agriculture, compared with 80 percent in the United States (90 percent in some Western states).
  • “They turn open the tap, flood the land, without understanding that in our climate most of the water evaporates that way,” said Ali Reza Seyed Ghoreishi, a member of the local water management council. “We need to educate the farmers.”
  • “We are all to blame,” Mr. Ranaghadr said. “There are just too many people nowadays, and everybody needs to use the water and the electricity the dams generate.”
  • While Iran is shooting monkeys into space to advance its missile program, the Rouhani government, low on funds because of the impact of the international sanctions against Iran’s nuclear program, has not made any money available for efforts to restore the lake.
katyshannon

Christmas Delivery: First U.S. Space Station Shipment in Months - US News - 0 views

  • CAPE CANAVERAL, Fla. (AP) — The International Space Station accepted its first U.S. shipment in more than half a year early Wednesday, receiving Christmas presents and much-needed groceries for the resident astronauts.
  • "There's much rejoicing on the ground," Mission Control radioed.
  • NASA astronaut Kjell Lindgren (CHELL LEND-grin) used the space station's big robot arm to grab the capsule and its 3 ½ tons of cargo. The operation went smoothly, thanks to all the practice Lindgren put in. He operated the crane via joy sticks, joking earlier this week, "I knew those hours playing video games would come in handy!"
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  • The capture occurred as the spacecraft soared 250 miles above the Arabian sea, skirting the coast of Oman. Three hours later, the capsule was bolted into place. The door was to remain shut until Thursday, though, given the crew's busy schedule.
  • The supply ship, dubbed Cygnus after the swan constellation, rocketed into orbit Sunday from Cape Canaveral, Florida. NASA's commercial shipper, Orbital ATK, used another company's rocket for the launch. Orbital supply runs had been on hold ever since a launch explosion last year. The other U.S. supplier, SpaceX, meanwhile, has not made a delivery since April because of a launch accident.
  • Orbital flight controllers, based at company headquarters in Dulles, Virginia, applauded and shook hands once the Cygnus made contact with the space station Wednesday morning. They wore retro-style white shirts, black slacks and skinny black ties in honor of the Mercury astronaut for whom the capsule had been named, Deke Slayton, a commercial space pioneer before his death in 1993.
  • The previous Cygnus also bore Slayton's name, but ended up being destroyed seconds after liftoff in October 2014. Orbital christened this capsule the S.S. Deke Slayton II.
  • NASA is paying billions of dollars to Orbital and SpaceX to stock the space station. The pantry got a little too empty for NASA's taste over the past year; besides the two lost commercial shipments, Russia also endured a failed supply run. The Russian Space Agency didn't take long, however, to resume flights; another shipment is scheduled for just before Christmas.
  • Two of the six-man crew — space station commander Scott Kelly and Mikhail Kornienko — are three-quarters of the way through a one-year mission. They're especially eager to see the Cygnus contents, since they won't be back on the planet until March.
  • The Cygnus will remain at the space station for a month, before being filled with trash and cut loose for a fiery re-entry.
Javier E

Opinion | The Real Legacy of the 1970s - The New York Times - 0 views

  • In most histories of how Americans became so polarized, the Great Inflation of the 1970s is given short shrift
  • Inflation was as pivotal a factor in our national crackup as Vietnam and Watergate
  • nflation changed how Americans thought about their economic relationships to their fellow citizens — which is to say, inflation and its associated economic traumas changed who we were as a people.
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  • It also called into question the economic assumptions that had guided the country since World War II, opening the door for new assumptions that have governed us ever since.
  • Slowly, though, inflation entered the picture. It hit 5.7 percent in 1970, then 11 percent in 1974. Such sustained inflation was something that had never happened in stable postwar America. And it was punishing. For a family of modest means, a trip to the supermarket was now a walk over hot coals.
  • Even as Americans scrambled for return, they also sought to spend
  • the average family of 1936 was near poor. Everyone was in it together, and if Bill couldn’t find work, his neighbor would give him a head of cabbage, a slab of pork belly.
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  • But the Great Inflation, as the author Joe Nocera has noted, made most people feel they had to look out for themselves
  • Throw in wage stagnation, which began in the early ’70s, and deindustrialization of the great cities of the North
  • Inflation also produced the manic search for “yield” — it was no longer enough to save money; your money had to make money, turning every wage earner into a player in market rapaciousness
  • Total credit card balances began to explode.
  • The Great Inflation was an inflection point that changed us for the worse. This moment can be another such point, but one that will change us for the better.
  • Then along came Ronald Reagan. The great secret to his success was not his uncomplicated optimism or his instinct for seizing a moment. It was that he freed people of the responsibility of introspection, released them from the guilt in which liberalism seemed to want to make them wallow.
  • Americans became a more acquisitive — bluntly, a more selfish — people. The second change was far more profound.
  • John Maynard Keynes. His “demand side” theories — increase demand via public investment, even if it meant running a short-term deficit — guided the New Deal, the financing of the war and pretty much all policy thinking thereafter. And not just among Democrats: Dwight Eisenhower and Richard Nixon were Keynesians.
  • There had been a group of economists, mostly at the University of Chicago and led by Milton Friedman, who dissented from Keynes. They argued against government intervention and for lower taxes and less regulation. As Keynesian principles promoted demand side, their theories promoted the opposite: supply side.
  • Inflation was Keynesianism’s Achilles’ heel, and the supply-siders aimed their arrow right at it. Reagan cut taxes significantly. Inflation ended (which was really the work of Paul Volcker, the chairman of the Federal Reserve). The economy boomed. Economic debate changed; even the way economics was taught changed.
  • And this, more or less, is where we’ve been ever since
  • walk down a street and ask 20 people a few questions about economic policy — I bet most will say that taxes must be kept low, even on rich people, and that we should let the market, not the government, decide on investments. Point to the hospital up the street and tell them that it wouldn’t even be there without the millions in federal dollars of various kinds it takes in every year, and they’ll mumble and shrug.
  • we have a long way to go. Dislodging 40-year-old assumptions is a huge job. The Democrats, for starters, have to develop and defend a plausible alternative theory of growth
  • But others have a responsibility here too — notably, our captains of commerce.
  • They will always be rich. But they have to decide what kind of country they want to be rich i
  • a 2006 Department of Labor study pegged the average household income of 1934-36 at $1,524. Adjust for inflation to 2018, that’s about $28,000, while the official poverty level for a family of four was $25,100
  • they can move moderate and maybe even conservative public opinion in a way that Democratic politicians, civic leaders and celebrities cannot.
  • A place of more and more tax cuts for them, where states keep slashing their higher-education spending and tuitions keep skyrocketing; where the best job opportunity in vast stretches of America is selling opioids; where many young people no longer believe in capitalism and record numbers of them would leave this country if they could?
  • Or a country more like the one they and their parents grew up in, where we invested in ourselves and where work produced a fair and livable wage?
Javier E

Earth's Food Supply Is Under Threat. These Fixes Would Go a Long Way. - The New York Times - 0 views

  • the planet’s land and water resources are so poorly used, according to a new United Nations report, that, as climate change puts ever-greater pressure on agriculture, the ability of humanity to feed itself is in peril.
  • The report, published in summary form Thursday by the Intergovernmental Panel on Climate Change, magnifies a dual challenge: how to nourish a growing global population, but do so in a way that minimizes agriculture’s carbon footprint.
  • Answering that challenge requires a huge overhaul of how we use land and water for food production
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  • it is entirely possible to grow food that’s better for us and grow it in ways that are better for the land. Better land management techniques include limiting the use of fertilizers that contribute to emissions and planting crops that add carbon to the soil.
  • The way forward, they point out, requires reducing planet-warming emissions, removing carbon from the atmosphere by storing it in trees or soil, and changing diets, especially among the world’s wealthy.
  • it also requires a hard look at who gets to eat what
  • when it comes to land use, better forest management has the “largest potential for reducing emissions.”
  • “Farming must work with nature, not against it,
  • “The I.P.C.C.’s land report puts a big question mark on the future of industrial agriculture.”
  • Scientists often refer to these as “natural climate solutions,” and they point out that sequestering carbon in the soil not only helps slow down climate change, it can also make the soil hardier to deal with extreme weather events and ultimately increase crop yields.
  • The world’s forests are under intense threat, though, especially in the tropics. They are cleared for things we consume, including soy, palm oil and beef cattle
  • Nowhere is that more stark than in the world’s largest rain forest, the Amazon. Its destruction has increased drastically since Brazil’s far-right president, Jair Bolsonaro, took power with a promise to further open the forest to commercial exploitation.
  • Livestock can be raised on lands that are too arid to grow crops, they can be fed differently so they produce lower methane emissions and they produce manure that can fertilize soil.
  • animal protein is vital nourishment for a hungry child and raising animals has been part of the culture and livelihood for millions of people around the world.
  • But if the heaviest meat eaters in places like the United States and Australia cut back on meat, especially red meat, it would make a big difference.
  • It is entirely possible to eat well without depriving ourselves. There are tips we can borrow from many traditional cuisines.
  • Taken together, the amount of food that is wasted and unused accounts for close to a 10th of global emissions.
  • Curbing food waste is arguably the single most effective thing that can be done at an individual or household level to slow down climate change.
Javier E

Germany Runs Up Against the Limits of Renewables - MIT Technology Review - 0 views

  • At one point this month renewable energy sources briefly supplied close to 90 percent of the power on Germany’s electric grid
  • Germany is giving the rest of the world a lesson in just how much can go wrong when you try to reduce carbon emissions solely by installing lots of wind and solar.
  • Germany’s carbon emissions rose slightly in 2015, largely because the country produces much more electricity than it needs.
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  • even if there are times when renewables can supply nearly all of the electricity on the grid, the variability of those sources forces Germany to keep other power plants running. And in Germany, which is phasing out its nuclear plants, those other plants primarily burn dirty coal.
  • Now the government is about to reboot its energy strategy, known as the Energiewende. It was launched in 2010 in hopes of dramatically increasing the share of the country’s electricity that comes from renewable energy and slashing the country’s overall carbon emissions to 40 percent below 1990 levels by 2020 (see “The Great German Energy Experiment”
  • Because German law requires renewable energy to be used first on the German grid, when Germany exports excess electricity to its European neighbors it primarily comes from coal plants.
  • Because fossil-fuel power plants cannot easily ramp down generation in response to excess supply on the grid, on sunny, windy days there is sometimes so much power in the system that the price goes negative—in other words, operators of large plants, most of which run on coal or natural gas, must pay commercial customers to consume electricity
  • Instead of subsidizing any electricity produced by solar or wind power, the government will set up an auction system. Power producers will bid to build renewable energy projects up to a capacity level set by the government, and the resulting prices paid for power from those plants will be set by the market, rather than government fiat.
  • It might seem like an easy way to solve the oversupply issue would be to shut down excess power plants, especially ones that burn coal. But not only are the coal plants used to even out periods when wind and solar aren’t available, they’re also lucrative and thus politically hard to shut down.
  • Some aspects of the Energiewende have been successful: renewable sources accounted for nearly one-third of the electricity consumed in Germany in 2015. The country is now the world’s largest solar market. Germany’s carbon emissions in 2014 were 27 percent lower than 1990 levels.
  • Putting a steep price on carbon emissions would hasten the shutdown of German coal plants. But Europe’s Emissions Trading Scheme, designed to establish a continentwide market for trading permits for carbon emissions, has been a bust. Prices for the permits are so low that there is little incentive for power producers to shut down dirty plants.
  • Also helpful would be a Europewide “supergrid” that would enable renewable power to be easily transported across borders, reducing the need for reliable, always-on fossil fuel plants to supplement intermittent electricity from solar and wind.
Javier E

Desperate for medical equipment, states encounter a beleaguered national stockpile - Th... - 0 views

  • HHS officials have sparred for more than a year with White House budget officials over money to buy more stockpile supplies.In February 2019, the White House was planning for a presidential executive order on preparing for a potential flu pandemic. HHS requested a more than $11 billion investment over 10 years for ASPR, including $2.7 billion for “treatment and control,” according to a document read by a Washington Post reporter that said some of those funds would go toward “better protective devices, manufactured faster.”
  • But the executive order issued by Trump in September 2019 did not include that money.
  • In late January, Azar began telling OMB about the need for a supplemental budget request for stockpile supplies — and was rebuffed at a time when the White House did not yet acknowledge any supplemental money would be needed, according to several individuals familiar with the situation
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  • Then came the Feb. 5 argument.
  • In mid-March, Trump declared the coronavirus outbreak a national emergency. As a result, control of the stockpile shifted again — from HHS to FEMA.Since then, FEMA’s administrator, Peter Gaynor, has been asked frequently how many supplies have been shipped to states and how allocation decisions are being made.
brickol

Live Coronavirus News, Updates and Video - The New York Times - 0 views

  • The Tokyo Olympics have been postponed. New York, now the center of the outbreak in America, braces for a flood of patients. The playwright Terrence McNally dies of complications from the coronavirus.
  • tocks rallied on the hope that Washington was close to producing a stimulus bill. Shares soared for airlines and other companies expected to benefit.
  • Trump expressed outrage at having to ‘close the country’ to curb the spread of the virus.
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  • Even as nations from Britain to India declare nationwide economic lockdowns, President Trump said he “would love to have the country opened up, and just raring to go, by Easter,” less than three weeks away, a goal that top health professionals have called far too quick.
  • he expressed outrage about having to “close the country” to curb the spread of the coronavirus and indicated that his guidelines on business shutdowns and social distancing would soon be lifted.
  • “I gave it two weeks,” he said, adding, “We can socially distance ourselves and go to work.”
  • “We are honored to serve and put our lives on the front line to protect and save as many lives as possible,” the American Medical Association, American Hospital Association and American Nurses Association wrote in an open letter. “But we need your help.”
  • Mr. Trump fell back on his comparison of the coronavirus to the flu, saying that despite losing thousands of people to the flu, “We don’t turn the country off.”
  • States including California, Maryland, Illinois and Washington have declared stay-at-home or shutdown orders, but other states have been looking for directives from the Trump administration. And countries in Asia are beginning to see a resurgence of coronavirus after easing up on restrictions.
  • For governors and mayors who have been trying to educate people about the urgent need to stay home and maintain social distance, Mr. Trump’s recent statements suggesting that such measures may be going too far threatened to make their jobs more difficult.
  • Mr. Hogan, the chairman of the bipartisan National Governors Association, said that health officials suggest that the virus’s peak could be weeks or months away. “We’re just trying to take the best advice that we can from the scientists and all the experts, and making the decisions that we believe are necessary for our states,” he said.
  • Both Mr. Trump and Vice President Mike Pence said that a lockdown had never been under consideration for the United States.
  • But the president and vice president were resolute that they want the country reopened. Mr. Pence said the administration’s timeline for trying to get businesses restarted and workers out of their homes was shorter than the period that health experts have said would be necessary to flatten the curve.
  • “We’ll focus on our most vulnerable, but putting America back to work will also be a priority, in weeks not months,” Mr. Pence said.
  • Mr. Pence also said two malaria drugs, chloroquine and hydroxychloroquine, had been approved by the Food and Drug Administration for off-label use treating patients with Covid-19, the disease caused by the coronavirus. The F.D.A. did not immediately confirm that assertion, but two administration health officials said it was not true.
  • India, the world’s second-most populous country, will order its 1.3 billion people to stay inside their homes for three weeks to try to curb the spread of the coronavirus, Prime Minister Narendra Modi declared on Tuesday.
  • Left unclear was how Indians would be able to get food and other needed supplies. Mr. Modi alluded vaguely to the government and civil society groups stepping in to help, but offered no details.
  • Mr. Modi also pledged to spend about $2 billion on medical supplies, isolation rooms, ventilators, intensive care units and training for medical personnel to combat the pandemic.
  • New York’s case count is doubling every three days, the governor says.
  • “We haven’t flattened the curve,” he said. “And the curve is actually increasing.” The governor, appearing in front of piles of medical supplies, spoke in a far more sober tone and delivered notably bleaker news than he has in previous days.The peak of infection in New York could come as soon as two to three weeks, far earlier than previously anticipated, Mr. Cuomo said, which would put even bigger strain on the health care system than officials had feared.
  • The governor said the state now projects that it may need as many as 140,000 hospital beds to house virus patients, up from the 110,000 projected a few days ago. As of now, only 53,000 are available. Up to 40,000 intensive-care beds could be needed. “Those are troubling and astronomical numbers,” he said.
  • In New York City alone, there have been around 15,000 cases.“Look at us today,” he warned the rest of the country. “Where we are today, you will be in four weeks or five weeks or six weeks. We are your future.”
  • Perhaps it was inevitable that New York City and surrounding suburbs would become the epicenter of the coronavirus epidemic in the United States. The population density, reliance on public transportation and constant influx of tourists — all would seem to make the metropolitan area a target.
  • But to stop the virus, scientists have to figure out which factors played a greater role than others. As it turns out, that is not so simple.
  • Perhaps the epidemic in New York had less to do with the virus than with discrete opportunities to spread: In so-called super-spreader events, one patient somehow manages to infect dozens, even scores of others. At one point, half the cases in Massachusetts were attributed to a single initial infection.
Javier E

Coronavirus could overwhelm hospitals in small cities and rural areas, data shows - Was... - 0 views

  • f a health official wanted to know how many intensive-care beds there are in the United States, Jeremy Kahn would be the person to ask. The ICU physician and researcher at the University of Pittsburgh earns a living studying critical-care resources in U.S. hospitals.
  • Yet even Kahn can’t give a definitive answer. His best estimate is based on Medicare data gathered three years ago
  • “People are sort of in disbelief that even I don’t know how many ICU beds exist in each hospital in the United States,” he said, noting that reporting varies hospital to hospital, state to state. “And I’m sort of like, ‘Yep, the research community has been dealing with this problem for years.’ ”
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  • But the pandemic has revealed a dearth of reliable data about the key parts of the nation’s health-care system now under assault. That leaves decision-makers operating in the dark
  • Given the limitations, The Washington Post assembled data to analyze the availability of the critical-care resources needed to treat severely ill patients who require extended hospitalization. The Post conducted a stress test of sorts on available resources, which revealed a patchwork of possible preparedness shortcomings in cities and towns where the full force of the virus has yet to hit and where people may not be following isolation and social distancing orders.
  • More than half of the nation’s population lives in areas that are less prepared than New York City, where in early April officials scrambled to add more ICU beds and find extra ventilators amid a surge of covid-19 patients.
  • To compare available resources across the country, The Post examined a year-long scenario in which the coronavirus would sicken 20 percent of U.S. adults, and about 20 percent of those infected would require hospitalization
  • Under that scenario, about 11 million adults would need hospitalization for nearly two weeks, and almost 2.5 million would require intensive care.
  • This level of hospitalization is considered by Harvard researchers to be a conservative outcome for the pandemic, while others have described it as severe.
  • about 76 million people, or 30 percent of the nation’s adult population, live in areas where the number of available ICU beds would not be enough to satisfy the demand of virus patients. The scenario for ventilator availability is even more dire: Nearly half of the adult population lives in regions where the demand would exceed the supply.
  • We need to know where our weapons are. We need to coordinate all of that,” said Retsef Levi, a Massachusetts Institute of Technology professor leading a health-care data initiative called the COVID-19 Policy Alliance. “This is a war.”
  • Kahn likened the task of evaluating the current readiness of the U.S. health-care system to peering into a dark room.
  • By The Post’s analysis, the general Seattle region would need all of its available ICU beds — plus a 15 percent increase — to handle an outbreak in which 20 percent of the population is infected with the coronavirus and 20 percent of those people need hospitalization. But the demand for ICU beds could be lower because the curve of infections in Washington appears to be flattening, according to officials.
  • Bergamo, as the ground zero of the Italian outbreak, was beset by ICU bed and ventilator shortages. “We think Italy may be the most comparable area to the United States, at this point, for a variety of reasons,” Vice President Pence said April 1 in a CNN interview.
  • The MIT research group, the COVID-19 Policy Alliance, has mapped high-risk areas in the United States where sudden spikes could inundate hospitals as the surge in northern Italy did.
  • In their U.S. analysis, MIT researchers considered several risk factors, including elderly population, high blood pressure and obesity.
  • The takeaway, the researchers said, is that across the nation, “micro-geographies” of individual Zip codes or small towns have the potential to generate surges of covid-19 patients that could overwhelm even the most-prepared hospitals.
  • Levi said nursing home populations should be prioritized for virus testing across the country, because outbreaks in such close quarters can rapidly sicken dozens of people, who then flood into area hospitals.
  • “We’re outside of it, and we’re all looking through different keyholes and seeing different aspects of it,” he said. “But there’s no way to just open the door and turn on the lights, because of how fragmented the data are. And that is a really, really depressing thing at all times, let alone during a pandemic, that we don’t have an ability to look at these things.”
  • The Society of Critical Care Medicine estimates that there are nearly 29,000 critical-care specialized physicians like Johnson who are trained to work in ICUs in the United States. Yet about half of all acute-care hospitals have no specialists dedicated to their ICUs. Because of the demands of treating covid-19 patients, the lack of dedicated physicians “will be strongly felt” through a lack of high-quality care, the society said in a statement.
  • The society also projects that the nurses, respiratory therapists and physician assistants specially qualified to work with ICU patients may be in short supply as patient demand increases and the ranks of medical workers are thinned by illness and quarantine.
  • what has the hospital been doing as a prevention epicenter in the four years between the Ebola epidemic and the emergence of the coronavirus pandemic?
  • “Drilling and preparing for it,” said Jorge Salinas, an infectious-disease physician working on the effort. “You may be preparing and training for 10 years and nothing happens. But if you don’t do that, when these pandemics do occur, you will not be prepared.”
  • Salinas said the pandemic has exposed the long-standing flaws in the nation’s “individualistic” health-care system, where hospitals look out for themselves. Electronic health-monitoring systems vary hospital to hospital. Supply tallies are kept in-house and generally not shared. To counter this in Iowa, he said, all hospitals have begun sharing daily information with state officials.
  • “The name of the game is solidarity,” Salinas said. “If we try to be individualists, we will fail.”
Javier E

The Black Death led to the demise of feudalism. Could this pandemic have a similar effe... - 0 views

  • The plague, in combination with a host of other related and overlapping crises, delivered a death blow to Medieval Europe, ushering in a new age — the Renaissance and the rise of so-called agrarian capitalism — and ultimately setting the stage for the Industrial Revolution and the modern world.
  • the calamitous 14th century is not as far removed from our own experience as we would like to think.
  • Since the Second World War, we have experienced an unprecedented period of economic growth, and so it was for Medieval Europe on the eve of the Black Death
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  • First and foremost, the climate was changing. Sound familiar? Medieval Europe benefitted from several centuries of warmer weather, which boosted crop yields, but by the 14th century, the world was entering the so-called Little Ice Age
  • As the population grew, increasingly marginal land was turned over to agriculture, with diminishing returns, resulting in lower yields per capita and pushing the population dangerously close to subsistence levels. This left little slack in the economy to absorb a significant shock, and the 14th century would soon bring one shock after another.
  • From AD 1000, Europe's population doubled or even tripled, and the economy became increasingly commercialized, underwritten by an increasingly sophisticated financial system, as new cities and towns emerged, universities were founded across the continent, and the magnificent Gothic cathedrals surpassed the Great Pyramid at Giza as the tallest man-made structures in the world.
  • At the same time, Europe entered a prolonged period of heightened geopolitical conflict, during which a dizzying array of kingdoms, principalities, sultanates and city-states waged innumerable wars, both large and small.
  • beginning in 1311, Europe began to experience a series of crop failures across the continent in what became known as the Great Famine. Reaching a peak in northern Europe in 1315-1317, the Great Famine may have killed 5 to 10% of Europe's population
  • Cooler and wetter weather depressed agricultural yields, at a time when there was already very little slack in the food supply. This contributed to a broader economic slowdown, as yields declined and prices rose, but it also brought Europe to the edge of famine.
  • These conflicts inhibited trade between northern and southern Europe and between western Europe and the eastern Mediterranean, further slowing the European economy and incurring a massive fiscal burden that would soon ruin the European financial system and provoke uprisings in both France and England
  • Northern Italy was the heart of the financial system at this time, and a small number of very large Italian banks, often referred to as "super-companies," were lending huge sums of money across Europe
  • All available money was loaned out or tied up in investments, leaving the banks severely under-capitalized and vulnerable to insolvency in the event of a sudden large withdraw or a major default on their loans.
  • war broke out between England and France in 1294, prompting King Edward I to withdraw huge sums of money from the Riccardi of Lucca, approximately equivalent to several billion dollars today. The Riccardi simply did not have the money, and Edward seized whatever assets he could. Then, over the following decades, three more super banks, the Frescobaldi, the Bardi and the Peruzzi, all of Florence, were each ruined by successive English kings who refused to pay their debts.
  • Meanwhile, the Catholic Church, the cultural and epistemological bedrock of Medieval Europe, was facing the most significant legitimacy crisis in centuries
  • It was in the midst of this spiritual, economic and geopolitical crisis that the Black Death arrived, sweeping through Europe in 1347-1353 and upending the balance of power, almost overnight
  • We might compare this crisis of faith with the current legitimacy crisis of science in the United States. Like the scientific method, the Church was a shared way of knowing — a pathway to common understanding, which was essential to the social order of Medieval Europe.
  • he King's men attempted to arrest the elderly Pope, inadvertently killing him. Shortly thereafter, in 1305, a Frenchman, Clement V, was chosen to be the next pope, and the papacy was relocated to Avignon, France. This understandably cast a long shadow over the Holy See, and the Avignon Popes were widely disliked and distrusted. The crisis only deepened in 1378 when a second pope was elected in Rome and a third pope was briefly elected in 1409 before all three were deposed in 1417.
  • This, combined with the soaring fiscal burden of near-constant war, set off a series of uprisings, most notably the French Jacquerie of 1358 and the English Peasants' Revolt of 1381. The aristocracy responded with force wherever they could, but they could not turn back the clock.
  • Both of these developments substantially benefitted commoners, at the expense of the elite, particularly in England.
  • The archetypal serf was not paid for their work in the lord's fields — that was their obligation to the lord in exchange for the use of the lord's land. The modern equivalent would be if your landlord was also your boss, and in order to live in your apartment, you had to sign away your freedom and that of your children, in perpetuity.
  • Not only that, the medieval lord was also the primary unit of legal, civic and military power, often serving as the first stop for legal matters and the first defense against brigands and rival kingdoms.
  • With perhaps half the population gone, there were simply not enough peasants to work the land, and the average income of the English lord declined significantly. In response, the lord's wheat fields were increasingly turned over to livestock, or rented out to tenant farmers, who would pay the lord a fixed rent, keeping the agricultural produce for themselves.
  • The ambitious commoner could now acquire sizable tracts of land, and with the agricultural product of that land entirely at their disposal, commoners were incentivized to maximize the productivity of their land and sell the surplus at market for a profit. This transition is often referred to as the birth of Agrarian Capitalism.
  • In the wake of the Black Death, plague doctors were among the first to believe they had surpassed the knowledge of the Greek and Roman world; ironically, they were wrong, but the lower mortality of later outbreaks led many doctors to proclaim they had cured the disease, which instilled a new faith in scientific progress
  • Sumptuary laws, which restricted what commoners could wear and eat, also became common during the 14th and 15th Centuries. However, these laws do not appear to have been effective, and tensions continued to mount between the aristocracy and the wider populace, who were increasingly impatient for change.
  • Urban laborers and craftsmen also benefitted from rising wages. The average lifespan increased, and standards of living improved across the board. The shortage of skilled tradesmen even created new opportunities for urban women
  • starting in the 14th century, infantry units comprised of commoners, like the Swiss pikemen and English longbowmen, began to win a series of decisive victories against mounted knights, revolutionizing military tactics and hastening the obsolescence of the feudal aristocracy.
  • a new intellectual spirit was taking root across western Europe. Influential thinkers like John Wycliffe and Marsilius of Padua began to question the worldly authority of both the Church and the state, arguing that power rested ultimately with the populace rather than the ruler, and the unworthy ruler could lose their right to govern
  • the economic effects of the plague were nothing short of earthshattering. By killing perhaps 50% of the labor force, the Black Death drastically altered the supply of labor, land and coin. Wages skyrocketed, as labor was in short supply, and rents declined, as the plummeting population density created a surplus of land
  • seven-hundred years later, what, if anything, can we learn from this — what can the crises and consequences of the 14th century tell us about our own pandemic and the impending aftermath?
  • There will be no labor shortage in the wake of the coronavirus; quite the opposite, there will likely be a labor surplus, due to the ensuing economic contraction. As for rents, the housing market is essentially frozen as people shelter in place, and housing prices are likely to decline in a recession, but the real cost of housing relative to income is unlikely to see the kind of seismic shift experienced after the Black Death.
  • most presciently for our own time, Europe was headed for a climate catastrophe, and regardless of the Black Death, the continent would have almost certainly faced a series of demographic shocks, like the Great Plague, until considerable changes were made to the existing socio-economic system.
  • The lesson we should take from this today is not the differences between the coronavirus and the Black Death, but rather the broader similarities between the 14th century and the 21st century
  • war between China and the US still looms ever larger, socio-economic inequality is reaching record levels, trust in institutions and our established epistemology is waning, and as we enter the worst depression since the 1930s, climate change once again threatens to throw us back into the Middle Ages
  • if we continue business as usual, what happens next is likely to be much worse. The calamitous 21st century is just getting started, and a more apt parallel for the Black Death is probably yet to come
andrespardo

Coronavirus is threatening US farms' survival. But you can make a difference | Adrienne... - 0 views

  • resh farm produce is healthy and delicious. Most of the time, that’s reason enough to sign up for a community-supported agriculture program (CSA), a system in which one pays to regularly receive goodie bags of whatever happens to be flourishing in nearby farmers’ fields, often along with optional local meat and dairy add-ons. Now, during the Covid-19 pandemic, bolstering local food systems is especially urgent – and there’s more at stake than just really good tomatoes.
  • This financial crunch will only compound the difficulties that led US farm bankruptcies to an eight-year high in 2019, such as low commodity prices and flooding and fires caused by climate change.
  • The CSA model is designed to benefit small-scale farmers by allowing them to sell “shares” of their crops during seasons when their expenses are high but their income is not – including winter and early spring. Many CSAs also allow you to donate directly to local farmers, or provide the option of working on a farm, co-op style.
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  • Local farmers have also proven more reliable in a crisis than the industrial food supply chain. The longer the outbreak continues, the more likely consumers will have to reckon with diminishing agricultural supply, particularly for imported products and those processed in large plants with hundreds of on-the-floor workers who are unable to practice social distancing effectively.
  • The pandemic has emphasized how valuable robust local food systems are. Supporting yours right now can start with contacting your community’s CSA and placing an order.
  • A supply chain reliant on a relatively small number of large factories to process and package food is a fragile one. Decentralized and localized systems are more resilient in the face of disruption – meaning more small-scale farms producing more food could be just what we need to protect our communities against future crises.
  • Food waste in general has emerged as a major issue during the pandemic. At the same time that demand for groceries has surged, vast quantities of food produced by the service sector for now-closed restaurant chains, hotels and cafeterias are being discarded.
  • Fresh farm produce is healthy and delicious. Most of the time, that’s reason enough to sign up for a community-supported agriculture program (CSA), a system in which one pays to regularly receive goodie bags of whatever happens to be flourishing in nearby farmers’ fields, often along with optional local meat and dairy add-ons. Now, during the Covid-19 pandemic, bolstering local food systems is especially urgent – and there’s more at stake than just really good tomatoes.
anonymous

Suez Canal: A Long Shutdown Might Roil The Global Economy : NPR - 0 views

  • Before the grounding of the massive Ever Given container ship in the Suez Canal, some 50 vessels a day, or about 10% of global trade, sailed through the waterway each day — everything from consumer electronics to food, chemicals, ore and petroleum.
  • Now, with the ship lodged sideways in the canal, closing off the main oceangoing highway between Europe and Asia, much of that cargo is sitting idle. It's either waiting to transit the canal or stuck in port while owners and shippers decide what to do.
  • Ultimately, they may be forced to place a bet on whether the canal will be reopened soon or gamble on expensive and time-consuming alternate routes. Lloyd's List estimates that the waiting game is costing $9.6 billion per day.
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  • Ship owners and operators have some options, but none of them are particularly good ones. The adage that time is money couldn't be more true in the shipping business. For the vessels already backed up in the canal, if the waterway isn't clear for transit soon, a decision will need to be made about whether to continue waiting or go to Plan B.
  • To get an idea just what a shortcut could be lost, commodity analysts Kpler said that for a vessel averaging 12 knots (14 mph), Suez to Amsterdam, takes 13 days via the canal. Around the Cape of Good Hope, it takes 41 days.
  • The situation could become clearer in the next week, Karatzas said, but if the Ever Given looks likely to require a massive operation to break free, shippers will have to make some tough and potentially costly decisions. The same goes for vessels that haven't yet left port, although the cost in time and money for them wouldn't be as great.
  • Another possible option is to go through the Panama Canal by way of the Pacific. But many of the largest commercial vessels today, such as the 1,300-foot Ever Given, are too big to fit through the Panama Canal.
  • Jonathan Roach, a container market analyst for Braemar ACM Shipbroking, said in a recent letter to clients that the route via the Cape of Good Hope was the most likely detour, even for vessels that can fit through the Panama Canal.Last year, due to a combination of excess capacity and falling fuel prices, some shippers did just that — opting to go the Africa route to avoid the Suez Canal transit fees.
  • There is one more possibility, but it too has severe limitations. A shorter route through the Arctic known alternately as the Northeast Passage, or the Northern Sea Route, or NSR, is being touted by Russia.
  • The number of vessels using the NSR has increased to several hundred each year, thanks in part to global warming that has reduced polar ice. However, traffic there still amounts to a mere fraction of what passes through the Suez.
  • The Northern Sea Route is still not considered practical by most shipping companies. For example, in 2018, Maersk, the world's largest container line, sent one of its ships via the NSR, but the company emphasized it doesn't see the route "as an alternative to our usual routes" and that the voyage was merely "a trial to explore an unknown route for container shipping and to collect scientific data."
  • Lastly, it's worth noting that a prolonged shutdown of the Suez Canal is not unprecedented. The waterway was closed for eight years, beginning in 1967, after war broke out between Egypt and Israel. As a result, ships were forced to divert around the tip of Africa.
  • Global supply chains, already significantly disrupted by the coronavirus pandemic, could be further stressed by a prolonged shutdown of the Suez Canal, said Jonathan Gold, vice president for supply chain and customs policy with the National Retail Federation.
  • The greatest impact would be felt in the European market, which relies most on transfers through the canal, but given the interconnected nature of global manufacturing and commerce, there's likely also to be a knock-on effect for the United States.
  • Bisceglie said it's time for companies to consider "having more disparate [supply hubs] instead of having all our eggs on one cargo ship." Maersk told NPR on Friday that it was too early to commit to rerouting any of its massive global container fleet. The Copenhagen, Denmark-based company said in a statement, that while "out of our control, we apologize for the inconvenience this incident may cause to your business and for critical shipments."
  • Like much else about the situation, it depends on how long it goes on. A weeklong delay for a few hundred ships at the Suez might have only a negligible impact for consumers, but a prolonged delay could increase the cost of shipping, complicate manufacturing and ultimately drive up prices.
  • That's $80,000 a day in fuel and an extra 10 days travel time — both to and from Asia. "So, you're looking at the best part of a million dollars with your operating costs. So it's a million dollars out and a million dollars back," he said.
  • In his letter to clients, Roach also noted problems at the Suez Canal could disrupt the flow of containers. A trade imbalance between Europe and Asia means that filled containers going west return mostly empty to ports in the east to be refilled. "If empty stocks dwindle in Asia, there is the short-term possibility of an increase" in prices, Roach wrote.
  • Overall, though, Joanna Konings, a senior economist at ING, told Bloomberg that she's "relatively sanguine" about the impact on trade. But she doesn't rule out "an inflationary shock that could come right to the consumer."
  • Shipping rates for petroleum products have nearly doubled since the Ever Given's grounding on Tuesday, according to Reuters. Although oil prices may also be feeling some upward pressure in the wake of the Ever Given incident, their increase so far has been blunted by news of further COVID-19 lockdowns in Europe that are likely to continue to depress demand.
mattrenz16

What the JBS cyberattack means for your meat supply - CNN - 0 views

  • JBS USA, the country's top beef producer and its second largest producer of pork, suffered a cyberattack this weekend, prompting reported shutdowns at company plants in the United States and globally.
  • Does fallout from the attack mean a tighter meat supply ahead, and as a result, higher prices? That depends on how quickly the issue is resolved, according to experts.
  • "Retailers and beef processors are coming from a long weekend and need to catch up with orders and make sure to fill the meat case. If they suddenly get a call saying that product may not deliver tomorrow or this week, it will create very significant challenges," Steiner explained.
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  • Steve Meyer, an economist with commodity firm Kerns and Associates, agreed that a one or two day disruption could cause wholesale meat prices to jump. But if the problem is resolved within a few days, he said, restaurants and grocery stores are unlikely to pass those costs onto consumers.
  • "Then you're probably going to have some buyers, whoever depends on JBS for their supplies, that probably could be short product," he said. In that case, for consumers, it would depend on where their local grocery store sources its meat. "If they buy it from JBS then you might see some shortages. If they don't buy it from JBS, you might not see anything at all."
mattrenz16

Steel and lumber prices are sky-high. Lifting Trump's tariffs could help - CNN - 0 views

  • The US economy is so hot the supply of key materials can't keep up with surging demand — sparking shortages and price spikes in everything from computer chips and copper to chlorine.
  • This choice underscores the challenging position Biden finds himself in. Despite what his critics may say, he doesn't have a magic wand to immediately stabilize prices. And some of the issues can be attributed to the unique nature of the crisis: a self-imposed shutdown of the economy followed by an intense rebound.
  • Trump's lumber and steel tariffs, introduced in 2017 and 2018 respectively, were aimed at protecting American industry and jobs against alleged unfair trade tactics — and the steel industry says they've been essential to keeping the sector afloat during the pandemic. But the logic of the tariffs is being undermined by not only supply shortages but also breathtaking price spikes.Read More
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  • Despite a 20% pullback in recent weeks, random-length lumber futures are still up more than 400% from their April 2020 low. Lumber prices have skyrocketed so much that it's causing remodeling nightmares and creating even more sticker shock in the booming housing market.
  • Likewise, prices for US hot-rolled, coil steel, the most widely produced finished steel product, have spiked almost 270% since bottoming out last August and hit a record high of $1,616 per ton on Friday, according to S&P Global Platts. Before this boom, the prior peak was $1,100 in 2008.
  • Murphy, whose organization opposed the Section 232 steel tariffs from the beginning, argued tariff relief is a way government can help accelerate the recovery while simultaneously easing inflation jitters.
  • Meanwhile, both the steel and lumber industries are strongly urging Biden to keep the tariffs in place. Removing them could prove to be politically unpopular, especially among steel workers in battleground Rust Belt states.
  • Scott argued the steel tariffs effectively supported the industry and that removing them, along with quotas limiting imports, would lead to both a "hemorrhaging of jobs" and importing steel that is in many cases worse for the environment than what is made in America.
  • The Biden administration does not appear to have made a decision yet on lifting the steel or lumber tariffs, though new efforts are being made to address rising inflation concerns.
  • Biden announced late last week his administration will soon take unspecified steps to fight supply chain pressures, beginning with construction materials and transportation bottlenecks.
saberal

Coronavirus in India: Deaths Mount at Hospital After Oxygen Runs Out - The New York Times - 0 views

  • At least 10 people, and possibly as many as 24, died after a hospital ran out of an increasingly precious resource here: medical oxygen. It was the latest in a growing series of such accidents.
  • When the pipes carrying oxygen to critically ill Covid-19 patients stopped working at a hospital in the southern Indian state of Karnataka on Sunday evening, relatives of sick patients used towels to fan their loved ones in an attempt to save them.
  • Local officials provided different accounts of the death toll at the hospital. Some said that at least 10 died from oxygen deprivation. Others said that 14 more died after the accident but that they died of comorbidities related to Covid, not directly from the oxygen shortage.
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  • “The deaths happened between Sunday and Monday morning, but we can’t say all died due to lack of oxygen,”
  • Last week, after oxygen ran out at one hospital in India’s capital, New Delhi, 12 people died. The week before that, it was 20
  • Doctors at dozens of hospitals in Delhi have been warning that they have come dangerously close to running out as well and that it was untenable to keep waiting for last-minute supplies to arrive. As the latest incident shows, at a hospital more than a thousand miles from the capital, oxygen shortages have now spread nationwide.
  • The same thing happened at Jaipur Golden Hospital in New Delhi.
  • While people continue to die from a lack of oxygen, Prime Minister Narendra Modi’s government and the local government in Delhi, the epicenter of the oxygen crisis, are fighting in court.
  • Representatives of the federal government told the court on Sunday that its officials are working hard to deal with the crises and any such order would have a demoralizing effect on them.
  • India has been receiving aid from other countries, and many have airlifted oxygen generators, including France, which delivered eight oxygen generator plants on Sunday, and from Saudi Arabia and the United Arab Emirates. The country has also received six planeloads of equipment and supplies including material for coronavirus vaccines from the United States.
  • In recent days delays in moving oxygen to the hospitals in cities that are far from the generating plants have caused deaths which could have been avoided, experts said. On Saturday 12 patients, including a doctor, died when a hospital in New Delhi ran out of oxygen for an hour, according to Sudhanshu Bankata, an official of the Batra Hospital, where the deaths took place.
  • “We are living from oxygen cylinder to oxygen cylinder,” she said.Medical oxygen has suddenly become one of the most precious resources in India, and the need for it will continue as the surge of coronavirus infections is hardly abating.
  • The investigation at the hospital continues. On Sunday evening at 6:30 p.m. doctors and paramedical staff said they had run out of oxygen and contacted everyone they could think of to get help.
  • Officials in the neighboring district of Mysore, which is one of the hot virus spots in the state, said they sent supplies late on Sunday evening, but Chamarajanagar district officials said none arrived at the hospital.
  • When she arrived at the hospital her father-in-law told her she was now a widow. Her husband had died early on Monday, during that 10-hour period when the hospital was out of oxygen.
ethanshilling

US to Send Millions of Covid-19 Vaccine Doses to Mexico and Canada - The New York Times - 0 views

  • The United States plans to send millions of doses of the AstraZeneca vaccine to Mexico and Canada, the White House said Thursday, a notable step into vaccine diplomacy just as the Biden administration is quietly pressing Mexico to curb the stream of migrants coming to the border.
  • Jen Psaki, the White House press secretary, said the United States was planning to share 2.5 million doses of the vaccine with Mexico and 1.5 million with Canada, adding that it was “not finalized yet, but that is our aim.”
  • Tens of millions of doses of the vaccine have been sitting in American manufacturing sites. While their use has already been approved in dozens of countries, including Mexico and Canada, the vaccine has not yet been authorized by American regulators.
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  • Mr. Biden asked President Andrés Manuel López Obrador of Mexico in a video call this month whether more could be done to help solve the problem, according to Mexican officials and another person briefed on the conversation.
  • Mexican officials acknowledge that relations between the United States and Mexico, which has suffered one of the world’s deadliest coronavirus epidemics, would be buoyed by a shipment of doses south.
  • Several European countries suspended use of the AstraZeneca vaccine this week, a precaution because some people who had received the shot later developed blood clots and severe bleeding.
  • Until Thursday, all of Canada’s vaccine supply had come from Europe or India, and Canada’s roll out has proceeded at a slow pace compared with the United States and many other countries.
  • A Biden administration official declined to comment further on the negotiations with Mexico, but noted that both countries shared a common goal of reducing migration by addressing its root causes, and said they were working closely to stem the flow of people streaming to the border.
  • Mexico has agreed to increase its presence on its southern border with Guatemala to deter migration from Central America, one of the government officials said,
  • The Biden administration’s appeal to do more against migration has put Mexico in a difficult position. While Mr. Trump strong-armed Mexico into militarizing the border, some Mexican officials argue that his harsh policies may have at times helped lessen their load by deterring migrants from attempting to make the journey north.
  • Many Canadians have expressed dismay that the United States had not shared any supplies with Canada, where no coronavirus vaccines are manufactured.
  • But on Thursday, Europe’s drug regulator declared the vaccine safe. AstraZeneca has also said that a review of 17 million people who received the vaccine found they were less likely than others to develop dangerous clots.
  • Beijing is shipping vaccines to dozens of countries, including some in Africa and Latin America. Russia has supplied its vaccine to Hungary and Slovakia.
  • Local government officials in Ciudad Juárez and shelter operators say Mexico is dialing up operations to capture and deport migrants along the northern border.
  • Despite the very public tensions with Mexico under Mr. Trump, Mr. López Obrador has been wary of the Biden administration, concerned that it might be more willing to interfere on domestic issues like labor rights or the environment.
  • The need for vaccines in Mexico is clear. About 200,000 people have died in the country from the virus — the third highest death toll in the world — and it has been relatively slow to vaccinate its population.
  • “Mexico needs cooperation from the U.S. in getting its economy jump-started and getting vaccines to get out of the health crisis,” said Andrew Selee, president of the Migration Policy Institute in Washington.
kaylynfreeman

Opinion | Biden Should Boost Covid Vaccine Supply With New Manufacturing Plan - The New... - 0 views

  • The Covid-19 pandemic has been mismanaged for months. Now vaccines are here —  but in very short supply. Most Americans will wait months to get immunized, and poorer countries are scrambling to find any vaccines at all.
  • There is another way. President-elect Joe Biden can solve the U.S. and worldwide vaccine shortages by using a strategy inspired by the one our country used to address the AIDS crisis. Mr. Biden can marshal the federal government’s resources to manufacture additional vaccine supplies and combine that move with vigorous efforts to boost distribution.
  • Mr. Biden can help address today’s urgent global health challenge by establishing the President’s Emergency Plan for Vaccine Access and Relief, or Pepvar, and rapidly building facilities to manufacture vaccines and their constituent components at scale. Manufacturing could be coordinated using a model similar to the one used by the Department of Energy’s national laboratories, in which a government-owned facility is operated by a private organization experienced in the relevant sector.
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