energy security

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pages: 1,373 words: 300,577

The Quest: Energy, Security, and the Remaking of the Modern World by Daniel Yergin

"Robert Solow", addicted to oil, Albert Einstein, Asian financial crisis, Ayatollah Khomeini, banking crisis, Berlin Wall, bioinformatics, borderless world, BRICs, business climate, carbon footprint, Carmen Reinhart, cleantech, Climategate, Climatic Research Unit, colonial rule, Colonization of Mars, corporate governance, cuban missile crisis, data acquisition, decarbonisation, Deng Xiaoping, Dissolution of the Soviet Union, diversification, diversified portfolio, Elon Musk, energy security, energy transition, Exxon Valdez, facts on the ground, Fall of the Berlin Wall, fear of failure, financial innovation, flex fuel, global supply chain, global village, high net worth, hydraulic fracturing, income inequality, index fund, informal economy, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), James Watt: steam engine, John von Neumann, Kenneth Rogoff, life extension, Long Term Capital Management, Malacca Straits, market design, means of production, megacity, Menlo Park, Mikhail Gorbachev, Mohammed Bouazizi, mutually assured destruction, new economy, Norman Macrae, North Sea oil, nuclear winter, off grid, oil rush, oil shale / tar sands, oil shock, Paul Samuelson, peak oil, Piper Alpha, price mechanism, purchasing power parity, rent-seeking, rising living standards, Robert Metcalfe, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, Sand Hill Road, shareholder value, Silicon Valley, Silicon Valley startup, smart grid, smart meter, South China Sea, sovereign wealth fund, special economic zone, Stuxnet, technology bubble, the built environment, The Nature of the Firm, the new new thing, trade route, transaction costs, unemployed young men, University of East Anglia, uranium enrichment, William Langewiesche, Yom Kippur War

But there is also a security dimension, which arises from growing dependence for a country for which “self-reliance” had been such a strong imperative for so many years. 10 CHINA IN THE FAST LANE In the late 1990s, when energy security proposals were presented to the Chinese government, they were tabled. “They said there was no energy security issue,” said a senior adviser, “and that was partly right. It was a benign market.” But that changed as oil consumption surged, increasing the reliance on imports, and prices started their upward trek. A country that had been self-sufficient in oil as a matter of policy found itself increasingly dependent upon the global market—something that was anathema in its earlier and very different stage of development. This dependence made energy security a central concern in Beijing. As one of the country’s top officials put it, “China’s energy security issue is oil supply security.” By 2003 a new factor had further increased the anxiety about energy security—the war in Iraq.

Senate, May 5, 2011 (smart grid). 12 Cybersecurity Two Years Later: A Report of the CSIS Commission on Cybersecurity for the 44th Presidency (Washington, DC: CSIS, 2011), p. 1 (“steamboats”); Charles Ebinger and Kevin Massey, “Enhancing Smart Grid Cybersecurity in the Age of Information Warfare,” Brookings Energy Security Initiative, February 2011; Bruce Averill and Eric A. M. Luijf, “Canvassing the Cyber Security Landscape: Why Energy Companies Need to Pay Attention,” Journal of Energy Security, May 2010. 13 U.S. Energy Information Administration, “World Oil Transit Chokepoints,” EIA website. 14 Donna J. Nincic, “The ‘Radicalization’ of Maritime Piracy: Implications for Maritime Energy Security,” Journal of Energy Security, December 2010; Jane’s Navy International, September 28, 2010. Chapter 14: Shifting Sands in the Persian Gulf 1 R. W. Ferrier, The History of the British Petroleum Company, Vol.

That explains the urgency for finding frameworks that can meet the interests of the various nations involved. “RESPONSIBLE STAKEHOLDERS” While these tensions persist, China’s direct anxiety over energy security appears to have eased. Hu Jintao offered his own answer to the Malacca Dilemma when he presented, at a G8 meeting in 2006, a definition of what he called global energy security in which importing countries like the United States and China are interdependent. Energy insecurity for China, he has said, also means energy insecurity for the United States—and vice versa. Thus collaboration is one of the main answers to the dilemmas of energy security. Part of this shift is based on China’s growing realization that it can obtain the additional energy it needs by participating in the same global economy from which it has benefited so considerably.


pages: 415 words: 103,231

Gusher of Lies: The Dangerous Delusions of Energy Independence by Robert Bryce

addicted to oil, Berlin Wall, Charles Lindbergh, Colonization of Mars, decarbonisation, en.wikipedia.org, energy security, energy transition, financial independence, flex fuel, hydrogen economy, Intergovernmental Panel on Climate Change (IPCC), John Markoff, Just-in-time delivery, low earth orbit, Nelson Mandela, new economy, oil shale / tar sands, oil shock, peak oil, price stability, Project for a New American Century, rolodex, Ronald Reagan, Silicon Valley, Stewart Brand, Thomas L Friedman, Whole Earth Catalog, X Prize, Yom Kippur War

This fact was made clear by Saudi oil minister Ali al-Naimi in 2006 during a speech in Washington, when he said: Energy security cannot be maintained when prices are at extremes— too low or too high. Truly sustainable energy security for consumers and producers requires three conditions—price stability, supply and demand reliability, and affordability. These are the three pillars of sustainable energy security. Affordability applies to both consumers and producers. If producers are forced to sell their energy resources at a low price, they eventually cannot afford to make the capital investments required to maximize long-term capacity. On the other hand, producers undermine their own security when their resources are not affordable to consumers. The foundation of sustainable energy security is a price low enough to avoid harming consumers, yet high enough to assure adequate return on investment for producers.5 No matter how much various factions in the U.S. may bash them, the Saudis’ preeminence in the global oil market will continue.

Increasing wealth and better standards of living are good for everyone. The World of Interdependence 267 REDEFINE ENERGY SECURITY Few phrases in the energy lexicon are as abused as “energy security.” The phrase gets tossed around all the time, but few people agree on what it means. The best definition comes from A. F. Alhajji who, in late 2007 defined it thusly: “Energy security is the steady availability of energy supplies that ensures economic growth in both consuming and producing countries with the lowest social cost and lowest price volatility.” Alhajji’s definition echoes the conclusions reached by the National Petroleum Council in its July 2007 report on future energy supplies. The report said that “energy independence is not realistic in the foreseeable future, whereas U.S. energy security can be enhanced by moderating demand, expanding and diversifying domestic energy supplies, and strengthening global energy trade and investment.

The report said that “energy independence is not realistic in the foreseeable future, whereas U.S. energy security can be enhanced by moderating demand, expanding and diversifying domestic energy supplies, and strengthening global energy trade and investment. There can be no U.S. energy security without global energy security” (italics added).34 In other words, America’s ability to secure the energy it needs hinges on a stable, prosperous, global marketplace and global economy in which all of the players—producers and consumers alike—are able to get the energy they need at reasonable prices. Energy security means accepting energy interdependence. It means moving past the racism and xenophobia that dominate the current energy rhetoric and embracing the global market. It means helping the developing countries of the world build energy infrastructure so they can develop their economies and raise the living standards of their people. Unless and until those things happen, the U.S. won’t have energy security. ACCEPT INCREASING ENERGY USE AND ADAPT TO A CHANGING GLOBAL CLIMATE In 2006, China’s electric grid added France.


The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin

3D printing, 9 dash line, activist fund / activist shareholder / activist investor, addicted to oil, Admiral Zheng, Albert Einstein, American energy revolution, Asian financial crisis, autonomous vehicles, Ayatollah Khomeini, Bakken shale, Bernie Sanders, BRICs, British Empire, coronavirus, COVID-19, Covid-19, decarbonisation, Deng Xiaoping, disruptive innovation, distributed generation, Donald Trump, Edward Snowden, Elon Musk, energy security, energy transition, failed state, gig economy, global pandemic, global supply chain, hydraulic fracturing, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), inventory management, James Watt: steam engine, Kickstarter, LNG terminal, Lyft, Malacca Straits, Malcom McLean invented shipping containers, Masdar, mass incarceration, megacity, Mikhail Gorbachev, mutually assured destruction, new economy, off grid, oil rush, oil shale / tar sands, oil shock, open economy, paypal mafia, peak oil, pension reform, price mechanism, purchasing power parity, RAND corporation, rent-seeking, ride hailing / ride sharing, Ronald Reagan, self-driving car, Silicon Valley, smart cities, South China Sea, sovereign wealth fund, supply-chain management, trade route, Travis Kalanick, Uber and Lyft, uber lyft, ubercab, UNCLOS, UNCLOS, uranium enrichment, women in the workforce

It took more than two weeks and what Putin called “difficult” negotiations for Russia and Ukraine to come to a new deal.7 Yet, remarkably, despite exceptionally cold weather, this second gas crisis resulted in no shortages, except in parts of the Balkans. The Ukrainians had built up ample storage. The Europeans also drew gas from storage. These crises put a new emphasis on energy security for both Russia and Europe. But the concept of “energy security” meant strikingly different things to them. Chapter 11 CLASH OVER ENERGY SECURITY Until recently, we assumed that the energy security regime that had come into existence in Europe was an optimal one,” reflected then–Russian president Dmitry Medvedev soon after the gas crisis. “It turns out that it wasn’t.”1 In 2011, Russia’s new concept was made clear. The setting was Lubmin, a seaside resort on the northeastern coast of Germany that advertises its beaches as “a paradise for families.”

They were obviously not there for the seaside amenities but rather to turn the valve on a $10 billion pipeline called Nord Stream—actually twin 750-mile natural gas pipelines that ran under the Baltic Sea directly from Russia to Germany. Nord Stream was Russia’s solution for its own version of energy security, reducing its dependence on Ukrainian transit by building new pipelines that went around that country. “Its construction meets our long-term goals,” said Medvedev at the dedication. And he generously added, “Of course this is our contribution to European energy security.” Chancellor Merkel voiced her approval of the project. Europe and Russia, she said, would “remain linked” in a “safe and resilient partnership” for decades to come. The European Union designated the pipeline “a priority energy project” that would contribute to European energy security. The gas that arrived at Lubmin had been injected into the pipeline two months earlier, at the port of Vyborg, northwest of St.

As we shall see later, the oil sanctions held, buttressed by financial sanctions; and the economic pressure on Iran led finally to the 2015 agreement that constrained Iran’s nuclear program in exchange for the removal of sanctions.5 Case number two is Europe and relates back to Putin’s angry rejoinder at St. Petersburg. The rise of shale has been one of the keys to diversifying the European gas market and enhancing energy security. When European leaders talk about energy security, they are often less focused on oil and more on natural gas—and in particular the degree of reliance on Russian gas. As Europe’s top supplier of gas, Russia had, in the minds of some in the European Union and many in Washington, the ability to use gas supply as leverage for political objectives. This concern was magnified by the reliance on pipelines with their inherent inflexibility.


The Power Surge: Energy, Opportunity, and the Battle for America's Future by Michael Levi

addicted to oil, American energy revolution, Berlin Wall, British Empire, business cycle, Carmen Reinhart, crony capitalism, deglobalization, energy security, Exxon Valdez, fixed income, full employment, global supply chain, hiring and firing, hydraulic fracturing, Induced demand, Intergovernmental Panel on Climate Change (IPCC), Kenneth Rogoff, manufacturing employment, oil shale / tar sands, oil shock, peak oil, RAND corporation, Ronald Reagan, Silicon Valley, South China Sea

They emphasize the fact that, as the Congressional Budget Office has noted, “greater production of oil in the United States would probably not protect U.S. consumers from sudden worldwide increases in oil prices,” suggesting the economy as a whole could not be insulated either. And they sharply question the security benefits of greater domestic production: according to the Energy Security Leadership Council, a bipartisan group of prominent business executives and retired military and government leaders from across the political spectrum, “as long as the United States remains a large consumer of oil, no level of domestic fuel production can meaningfully improve energy security.”37 O pen any Economics 101 textbook and you’ll learn what determines oil prices: it’s the collision of supply and demand. High prices make production more attractive and encourage people to cut back how much they use. If prices get too high, supply outstrips demand, and an oil glut develops; eventually, prices crash.

Natural Resources Defense Council, “Reducing Imported Oil with Comprehensive Climate and Energy Legislation,” March 2010, http://www. nrdc.org/energy/files/reducingimportedoil.pdf. 27. Vello A. Kuuskraa, Tyler Van Leeuwen, and Matt Wallace, “Improving Domestic Energy Security and Lowering CO2 Emissions with ‘Next Generation’ CO2-Enhanced Oil Recovery (CO2-EOR),” National Energy Technology Laboratory, Washington, D.C., June 20, 2011. 28. Energy Information Administration, “Energy Market and Economic Impacts of the American Power Act of 2010,” Office of Integrated Analysis and Forecasting Washington, D.C., July 2010. 29. Natural Resources Defense Council, “Reducing Imported Oil.” 30. Kuuskraa et al., “Improving Domestic Energy Security.” 31. James T. Bartis, Tom LaTourrette, Lloyd Dixon, D. J. Peterson, and Gary Cecchine, Oil Shale Development in the United States: Prospects and Policy Issues (Santa Monica, Calif.: RAND Corporation, 2005).

., Oil Shale Development in the United States. 34. Ibid. 35. Quoted in David Ignatius, “An Economic Boom Ahead?” Washington Post, May 4, 2012. NOTES FOR PAGES 65–78 • 227 36. Jocelyn Fong, “20 Experts Who Say Drilling Won’t Lower Gas Prices,” Media Matters for America, March 22, 2012, http://mediamatters.org/blog/2012/ 03/22/20-experts-who-say-drilling-wont-lower-gas-pric/184040. 37. Energy Security Leadership Council, “The New American Oil Boom: Implications for Energy Security,” Washington, D.C., 2012. 38. International Monetary Fund, World Economic Outlook: Tensions from the Two-Speed Recovery, Washington, D.C. (April 2011). Author’s calculations. 39. James D. Hamilton, “Historical Oil Shocks,” in The Handbook of Major Events in Economic History, ed. Randall E. Parker and Robert M. Whaples (New York: Taylor & Francis, 2013). 40.


pages: 311 words: 17,232

Living in a Material World: The Commodity Connection by Kevin Morrison

addicted to oil, barriers to entry, Berlin Wall, carbon footprint, clean water, commoditize, commodity trading advisor, computerized trading, diversified portfolio, Doha Development Round, Elon Musk, energy security, European colonialism, flex fuel, food miles, Hernando de Soto, Hugh Fearnley-Whittingstall, hydrogen economy, Intergovernmental Panel on Climate Change (IPCC), Kickstarter, Long Term Capital Management, new economy, North Sea oil, oil rush, oil shale / tar sands, oil shock, out of africa, Paul Samuelson, peak oil, price mechanism, Ronald Coase, Ronald Reagan, Silicon Valley, sovereign wealth fund, the payments system, The Wealth of Nations by Adam Smith, trade liberalization, transaction costs, uranium enrichment, young professional

Bush espouses a similar goal to Nixon, however, his energy policy doctrine was dismissed last year by a team of energy executives, policymakers and analysts, who make up the National Petroleum Council (NPC) in the US. ‘Energy Independence should not be confused with strengthening energy security. The concept of energy independence is not realistic in the foreseeable future, whereas US energy security can be enhanced by moderating demand, expanding and diversifying domestic energy supplies, and strengthening global energy trade and investment,’ the NPC said. ‘There can be no US energy security without global energy security.’ (National Petroleum Council, 2007). ENERGY | 31 Until cleaner energies become commercially viable, the world will continue to consume more coal and oil. With the end of the Bush– Cheney government drawing near, the legacy is a more polluted US and a country that is even more dependent on foreign oil.

Bush’s support for the coal industry underlines his prioritizing of energy security over global warming. About half of all US electricity is generated by coal; the country burns more than 1 billion tonnes a year and most of that is met by local production. Almost two-thirds of US coal production comes from mines in Wyoming, West Virginia and Kentucky, with most of the coal moved by train across America. Many drivers that get caught by the red lights at a level crossing in America is often because they are waiting for a coal freight train to pass with dozens of carriages filled to the brim with coal. Politicians talk about energy security and climate change in the same breath, but so far they have been proven to be largely contradictory objectives. Energy security has become a major focus under President Bush following the September 11 attacks, the wars in Iraq ENERGY | 29 and Afghanistan and the sabre rattling between the Bush government and Iran.

(Comex) 255 Commodity Future Trading Commission (CFTC) (US) 74, 253, 263 commodity indices 240–2 commodity market manipulation 245–7 Commodity Trading Advisors (CTAs) 238 Congo, copper in 201, 202, 210–11 | 293 Connaughton, James 29, 31 ConocoPhilips 57, 79 Conservation International 93 Continental Power Exchange (CPE) 257, 258 Cooke, Jay 198, 222 n. 18 copper 4, 9, 11 applications 187–90 Congo 201, 202, 210–11 cost 211–13, 214–17 demand 182–5 electrical applications 186–7 in electricity generation 194–5 history 185–6 prices 199–201, 222 n. 17 production 195–8, 199 recycling 183, 184–5 theft 179–82 trade 211–13 under-sea extraction 217 in vehicles 190–4 Copper Export Association 201 Copper Exporters Incorporated 201 Copper Producers’ Association 200 coralconnect.com 260 corn 68–84, 96–8, 98–9, 99–101 hybrids 101–3 GM 104–6 diversity 106–10 Corn Products 233 cotton 166 Countryside Alliance 146 credit crisis (2007) 7 Crocker, Thomas 138 Cruse, Richard 111 D1 Oils 57, 58, 59 Dabhol gas-fired power plant 35 Dales, John 138 Daly, Herman 136 Darwin, Charles 67 Davis, Adam 157 Davis, Miles 183 Day after Tomorrow, The 15 n. 1 De Angelis, Anthony ‘Tino’ 245 De Beers 200, 210 De Soto, Hernando 136 Deere, John 100 deforestation 87, 147 Dennis, Richard 237 Deripaska, Oleg 199 Deutsche Bank 246, 261 294 | INDEX Diamond, Jared 97 DiCaprio, Leonardo 130 Dimas, Stavros 160 distillers’ dried grains with solubles (DDGS) 81 Dittar, Thomas 231 Donchian, Richard 237–8 Donson, Harry 199 dot.com bubble 7, 14, 241, 243 Doud, Gregg 82, 83 Dow Jones-AIG Commodity Index 240 Dresdner Kleinwort 47 Drexel Burnham Lambert 254 Dreyfus, Louis 89 Duke Energy 258 Dunavant, Billy 237 DuPont 102 E85 79 Ealet, Isabelle 259, 260 Earth Sanctuatires 157 Earth Summit Bali 142 Rio 1992 141 Ebay 38 Ecosystem Marketplace 157 Edison, Thomas 17, 95, 186 Ehrlich, Paul 13, 14, 16 n. 9 Population Bomb, The 14 Eisenhower, President 40 El Paso 258 Electric Power Research Institute (EPRI) 153 electric vehicles 54, 191–3 11th Hour, The 130 Elf 261 Elton, Ben 135 Emissions Trading Program 139 Energy Information Administration (EIA) 38 Energy Policy Act 2005 (US) 28 energy security 28–9 Energy Security Act 1980 (US) 74 Enron 35, 164, 165, 213, 246, 257–64 Enron Online 213, 225 n. 40, 257, 258, 259 Environmental Protection Agency (US) 27, 62 n. 17, 75, 139 ethanol 69–70, 73–81, 92, 119 n. 6 see also biofuels Eurex 262 European Climate Exchange 146 European Union 142, 158, 160 Waste Electrical and Electronic Equipment (WEEE) 185 Evelyn, John 127 exchange-traded funds (ETFs) 13, 270 Exxon 32, 50, 52, 261 ExxonMobil 13, 79, 242, 254 Faraday, Michael 186 Farm Credit Administration 76 farm debt crisis 114–15 farm payments 115–16 farm sinks 154–5 Fearnley-Whittingstall 86 Federal Bureau of Investigation 246 Federal Clean Water Act (US) 156 F-gases 131 Firewire 260 Fisher, Mark 266, 269 Fleming, Roddy 219 flex-fuel cars 92–3 Fonda, Jane 114 Food and Agricultural Organization 148, 159 Ford, Bill 267 Ford, President Gerald 30, 115 Ford, Henry 73, 95, 195 Fordlandia 195 forest economics 149–50 forestry carbon credits 147 forests 147–51 Forrest, Andrew 199 Forward Contracts (Regulations) Act 1952 (US) 249 Forward Markets Commission (FMC) 249 Four Winds Capital Management 149, 159, 184 Franklin, Benjamin 157 Freese, Barbara 27 Friedland, Robert 199 Frost Fairs 127 fuel cell vehicles 53, 192–3 Futures Inc. 237 futures trading 235–6, 245, 247–50 gas 21–2 Gas Exporting Countries Forum (GECF) 61 n. 8 gasohol 73 gene shuffling 105 General Atlantic 267, 269 General Motors 53, 54, 191, 193 INDEX genetically modified organism (GMO) seeds 105–6 Glencore 199, 211 Global Forest Resources Assessment 2005 148 Global Initiatives173 n. 28 Global Positioning Systems (GPS) 191 global warming 24–6, 75 Globex 267 glycerin 82 Golder and Associates 206 Goldman 255, 260, 261 Goldman Sachs 57, 146, 254, 259 Goldman Sachs Commodity Index (GSCI) 240, 241 Goldstein Samuelson 245 Google 37, 38 Gore, Al 16 n. 5, 28, 38, 126, 129, 143 Government National Mortgage Association (Ginnie Mae) certificates 146 Grant, President Ulysses S. 214 Greenburg, Marty 269 greenhouse effect 131 greenhouse gas emissions 25, 131 see also carbon dioxide; nitrous oxide Greenspan, Alan 244 Gresham Investment Management 242, 243 Guggenheim brothers 197 Guttman, Lou 251, 255, 259 Hamanaka, Yasuo 246 Hanbury-Tension, Robin 146 Harding, President Warren 103 hedge funds 23640 Henry Moore Foundation 180, 181 Herfindahl, Orris 215, 226 n. 46 Heston, Charlton 15, n. 4 Hezbollah 46 Hi-Bred Corn Company 102 high fructose corn syrup (HFCS) 89–90 Highland Star 219 Hill, James Jerome 215 Homestead Act 1862 (US) 100 Honda 53 Howard, John 133, 171 n. 16 Hu Jintao, President 219 Hub, Henry 257 Humphries, Jon 181 Hunt Brothers 245 Hunter, Brian 246, 247 | 295 Hurricane Katrina 135 Hurricane Rita 134 Hussein, Saddam 48 hybrid cars 53 hydroelectric power 34 hydrogen cars 54 hypoxia zone 111 iAqua 165 IEA 32 IMF 16 n. 6 Inconvenient Truth, An 16 n. 5, 129 Indonesia palm oil 93–4 Integrated Gasification Combined Cycle (IGCC) 31–2 intelligent lighting 38 IntercontinentalExchange (ICE) 246, 261, 262, 265, 266, 267 Intergovernmental Council of Copper Exporting Countries (CIPEC) 203, 204 International Bauxite Association (IBA) 203 International Carbon Action Partnership (ICAP) 144 International Commercial Exchange (ICE) 273 n. 15 International Copper Cartel 201 International Energy Agency (IEA) 19, 25, 26, 40, 140–1, 153, 194 International Monetary Fund 57 International Panel on Climate Change (IPCC) (UN) 24, 132, 134, 147, 149, 170 n. 3 International Petroleum Exchange (IPE) 250, 256, 257, 262, 263, 264, 265 International Thermonuclear Experimental Reactor (ITER) 41 International Tin Council 203 International Treaty on Plant Genetic Resources for Food and Agriculture 107 Iowa Farm Bureau 36, 76, 155 Iowa Stored Energy Park 36 Japanese car market 18 Jardine Matheson 225 n. 40 Jarecki, Dr Henry 242, 243, 244 jatropha 57–9 Jefferson, Thomas 109 Jevons, William Stanley 20 Joint, Charles 181 296 | INDEX Joint Implementation (JI) 151 Jones, Paul Tudor 237, 238 Kabila, Joseph 210 Kanza, T.R. 211 Katanga of Congo 201, 225 n. 37 Kennecott Copper 199 Kennedy, Joseph (Joe) 264 Khosla Partners 38 Khosla, Vinod 37 Kitchen, Louise 258 Kleiner Perkins, Caufield & Byers 37 Kooyker, Willem 237, 238 Kovner, Bruce 237, 238 Krull, Pete 81 Kyoto Protocol 24, 27, 50, 140, 141, 142, 143, 147, 151, 169 n. 2, 194 clean development mechanism (CDM) 151 Lamkey, Kendall 112 Land and Water Resources, Inc. 155 Land Grant College Act (US) 101 Lange, Jessica 114 lead credits 172 n. 20 LED (light-emitting diodes) 38 Lehman brothers 241 Leiter, Joseph 245 Leopold II, King 210 Liebreich, Michael 39 Liffe 267 Lincoln, President Abraham 69, 100, 101, 119 n. 1 Lintner, Dr John 243 liquid coal 33–4 London Clearing House 263 London International Financial Futures and Options Exchange (Liffe) 262 London Metal Exchange (LME) 16 n. 10, 43, 196, 204, 212, 213, 246 Long Term Capital Management (LTCM) 247 Louisiana Light Sweet 253 Lourey, Richard 166, 168 Lovelock, James 131 Lyme Timber Company, The 149 Mackintosh, John 232, 234, 270 Madonna 6 malaria 156 Malthus, Thomas 130 manure lagoons 154–5 Mao, Chairman 210 Markowitz, Harry 243 Marks, Jan 268 Marks, Michel 252, 253, 254, 268 Marks, Rebecca 164, 165 Mars, Forrest E., Jr 60 Matheson, Hugh 225 n. 40 Matif 262 McCain, John 80 McDonalds 89 Megatons to Megawatts programme 42 Melamed, Leo 249–50, 264 Mendel, Gregor (Johann) 102, 122 n. 30 Merrill Lynch 241, 246 Mesa Water 163–4 methane 128, 131, 152, 154 methyl tertiary butyl ether (MTBE) 74 Microsoft 13 Midwestern Regional Greenhouse Gas Reduction Accord 143 milk 88–9 Milken, Michael 254 Millennium Ecosystem Assessment Board 156 Mittal, Laskma 212 Mobile 261 Mocatta Metals 242 Monsanto 106, 108 Montéon, Michael 199 Montgomery, David 138 Moor Capital 237 Moore, Henry 179, 182 Morgan, J.P. 246 Morgan Stanley 254, 255, 259, 260, 261 Muir, John 125 Mulholland, William 162 Murphy, Eddie 256 Murray Darling Basin 165–6 Musk, Elon 38 Nabisco 238–9 Nanosolar 38 Nasdaq 262 Nassar, President 210 National Aeronautics and Space Administration (NASA) 192 National Alcohol Programme (Brazil) 92 National Cattlemen’s Beef Association 82 National Commission on Supplies and Shortages (US) 7, 16 n. 5 National Corn Growers’ Association 80 National Energy Policy (US) 28 INDEX National Petroleum Council (NPC) 30, 50 National Security Space Office (NSSO) (US) 39 NCDEX 248, 249 Nelson, Willie 115 New Deal Farm Laws 103 New Deal for Agriculture 76, 89 New Energy Finance 39 New Farm and Forest Products Task Force 95 New York Board of Trade 240, 255 New York Cocoa Exchange 255 New York Coffee and Sugar Exchange 255 New York Cotton Exchange 237, 252, 255 New York Mercantile Exchange (Nymex) 43, 156, 246, 248, 251, 252, 253, 254, 255, 256, 257, 261, 262, 263, 264, 265, 266, 267, 268, 269 New York Metal Exchange 226 n. 42 New York Stock Exchange (NYSE) 198, 253, 255, 256, 264, 268, 270 Newman, Paul 265 Nicholson, Jack 162 nickel 217–18, 227 n. 50, 227 n. 52 nitrates 110–11 nitrogen oxide emissions 139 nitrous oxide 131, 139, 140, 152 Nixon, President 27, 30, 115, 231, 252 Noble Group 199 North, John Thomas 198, 199, 209 Norton, Gale 163 nuclear energy 34 nuclear power 21, 39–44 Nuexco Trading Corporation 42 Nybot 255, 256, 265 Obama, Barack 79, 80, 143 obesity 121 n. 19 O’Connor, Edmund 231 O’Connor, William 231 OECD 158, 159 oil 44–53 energy content 51–2 palm 93 prices 8–9, 10, 52–3 sands 49–50 shale 50–1, 64 n. 33 shocks 5, 7 soya 82 trading 250–5, 266 Oliver, Jamie 86 onion futures trading 245 | 297 Ontario Teachers’ Fund 244, 272 n. 8 Organization of the Petroleum Exporting Countries (Opec) 4, 9, 10, 22, 44–7, 203, 204, 251, 254 over-the-counter (OTC) trading 16 n. 8, 254–5 Owens Valley rape (1908) 162 Pachauri, Dr Rajendra K. 59 Page, Larry 38 Paley Commission 8 palm oil 93 Palmer, Fred 62 n. 14 Parthenon Capital 156, 267 PayPal 38 Peadon, Brian 165 perfluorocarbon 131 PGGM 244 Phaunos Timber Fund 149 Phelps Dodge 199 Phibro 254 Pickens, T.


Blindside: How to Anticipate Forcing Events and Wild Cards in Global Politics by Francis Fukuyama

Asian financial crisis, banking crisis, Berlin Wall, Bretton Woods, British Empire, business cycle, capital controls, Carmen Reinhart, cognitive bias, cuban missile crisis, energy security, flex fuel, global pandemic, income per capita, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, John von Neumann, mass immigration, Menlo Park, Mikhail Gorbachev, moral hazard, Norbert Wiener, oil rush, oil shale / tar sands, oil shock, packet switching, RAND corporation, Ray Kurzweil, reserve currency, Ronald Reagan, The Wisdom of Crowds, trade route, Vannevar Bush, Vernor Vinge, Yom Kippur War

Therefore, unlike corn, it does not require a government subsidy (in today’s cli- 2990-7 ch07 luft 7/23/07 12:11 PM Page 79 in search of energy security 79 mate of high prices, with production costs of corn ethanol well under $1.50 a gallon and selling costs about $2.30, it is questionable whether corn ethanol requires its current subsidies). Unfortunately, the United States does not have an ideal climate for growing sugar cane—sugar needs a long, frost-free growing season—and is not able to ramp up sugar production to the level needed to even come close to satisfying its energy needs. This is why Latin American and Caribbean countries like Brazil, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Jamaica—all low-cost sugar cane producers—could become keys to U.S. energy security. Brazil, the Saudi Arabia of sugar, already exports half a billion gallons of ethanol a year and could provide the United States with cheap ethanol.

Cases: Looking Back 3 Slow Surprise: The Dynamics of Technology Synergy David Landes 4 U.S. Intelligence Estimates of Soviet Collapse: Reality and Perception Bruce Berkowitz 5 Econoshocks: The East Asian Crisis Case David Hale 23 29 42 Part II. Cases: Looking Ahead 6 The Once and Future DARPA William B. Bonvillian 57 v 2990-7 ch0 frontmatter 7/23/07 12:05 PM Page vi vi contents 7 Fueled Again? In Search of Energy Security Gal Luft and Anne Korin 71 8 Emerging Infectious Diseases: Are We Prepared? Scott Barrett 82 Part III. Forecasting 9 Ahead of the Curve: Anticipating Strategic Surprise Peter Schwartz and Doug Randall 10 Can Scenarios Help Policymakers Be Both Bold and Careful? Robert Lempert 11 Innovation and Adaptation: IT Examples M. Mitchell Waldrop 93 109 120 Part IV. What Could Be 12 Cassandra versus Pollyanna A Debate between James Kurth and Gregg Easterbrook 129 13 Global Discontinuities A Discussion with Owen Harries, Itamar Rabinovich, Niall Ferguson, and Scott Barrett 143 14 American Scenarios A Discussion with Walter Russell Mead, Eliot Cohen, Ruth Wedgwood, Anne Applebaum, Bernard-Henri Lévy, Josef Joffe, Peter Schwartz, and Francis Fukuyama 153 15 Afterword Francis Fukuyama 169 Notes 173 Contributors 181 Index 183 2990-7 ch0 frontmatter 7/23/07 12:05 PM Page vii BLINDSIDE 2990-7 ch0 frontmatter 7/23/07 12:05 PM Page viii 2990-7 ch01 fukuyama 8/8/07 2:12 PM Page 1 1 The Challenges of Uncertainty: An Introduction Francis Fukuyama The collapse of communism, the rapid emergence of China and India as major economic powers, the September 11 attacks, the appearance of relatively new diseases like HIV/AIDS and H5N1 bird flu, Hurricane Katrina—the past decade and a half has demonstrated that nothing is as certain as uncertainty in global politics.

Rome lacked the scientific institutions to capitalize on this latent technology, precisely the function for which DARPA has been organized. Think of the loss that results when a society fails to dedicate itself to innovation, even when the organizational tools are at hand. What a waste, and how embarrassing to posterity. 2990-7 ch07 luft 7/23/07 12:11 PM Page 71 7 Fueled Again? In Search of Energy Security Gal Luft and Anne Korin On February 17, 2006, a rebel group called the Movement for the Emancipation of the Niger Delta (MEND) declared “total war” against oil companies operating in Nigeria’s main oil-producing region. Nigeria is Africa’s leading oil exporter and ranks fifth as an oil supplier to the United States. For oil companies, it is one of the most inhospitable domains on the planet in which to do business.


pages: 433 words: 127,171

The Grid: The Fraying Wires Between Americans and Our Energy Future by Gretchen Bakke

addicted to oil, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, back-to-the-land, big-box store, Buckminster Fuller, demand response, dematerialisation, distributed generation, energy security, energy transition, full employment, illegal immigration, indoor plumbing, Internet of things, Kickstarter, laissez-faire capitalism, Menlo Park, Negawatt, new economy, off grid, post-oil, profit motive, Ronald Reagan, self-driving car, Silicon Valley, smart grid, smart meter, the built environment, too big to fail, washing machines reduced drudgery, Whole Earth Catalog

grew too costly to complete: The inordinate expense of building nuclear power plants, each of which was more like a carefully crafted work of art rather than a cookie-cutter prefab job and thus beset by the last-minute modifications and unanticipated delays that come with doing something complex for the first time, made this former truth of the industry’s business model stumble as well. “trucking transportation systems”: “Statement of Former U.S. President Carter at Energy Security Hearing Before U.S. Senate Foreign Relations Committee,” Carter Center, May 12, 2009, http://www.cartercenter.org/news/editorials_speeches/BostonGlobe-energy-security-hearings.html. decentralized power options: Carter also did a great deal to strengthen America’s reliance on fossil fuels, by encouraging more coal use and the exploitation of domestic oil. His problem was energy security and he was very catholic in his approach to solving it. Williams (1997), 325. commitment to fundamental change: This process might have been inevitable, for as Buckminster Fuller famously pointed out, “All the technical curves rise in tonnage and volumetric size to reach a giant peak after which miniaturization sets in.

A secure, ample energy system also includes good employment policies that lead to peaceful labor relations and good county, state, and federal regulations that ensure both the affordability and the long-term stability of extractive technologies. And it includes making sure that disasters like Love Canal or Deepwater Horizon are a thing of the past. Many of these integrated aspects of energy security can be controlled within the United States in ways that are impossible in war zones. The mistake is in imagining that the knowledge and organization necessary for abundance is naturally linked to energy security, or that a national infrastructure for supplying power to American towns and bases is situated in a “stable environment.” We have seen this with Hurricanes Sandy and Irene in the Northeast and Katrina and Rita along the Gulf Coast, the Gale in the Pacific Northwest, Boston’s Snowmageddon, the California droughts and their wildfires, and the annual spin of tornadoes that wipe out, and cause to be rebuilt year in and year out, the infrastructures that support northern Texas, Oklahoma, Kansas, and Nebraska.

Amory Lovins, who coined the term “the Soft Energy Path” in 1976 as a means of articulating an alternative way of thinking about national security, argued that our hardened infrastructure, far from making things stronger, in fact increases infrastructural brittleness and thus also the ease with which the systems that sustain us can be broken. It is interesting to note that for the Lovinses (Amory wrote most often together with his wife, Hunter), security is not a domain isolated from the everyday. For them, energy security, oil supply chains, and a robust electrical infrastructure are all singular and inextricable elements of national security. Without our grid almost every element of modern life is lost. No computing power, no light, no telecommunications, no entertainment or news, no public transit, no air-conditioning, and in many places no potable or hot water. An otherwise undamaged refinery or pipeline will not operate without access to electric power.


pages: 443 words: 112,800

The Third Industrial Revolution: How Lateral Power Is Transforming Energy, the Economy, and the World by Jeremy Rifkin

"Robert Solow", 3D printing, additive manufacturing, Albert Einstein, American ideology, barriers to entry, borderless world, carbon footprint, centre right, collaborative consumption, collaborative economy, Community Supported Agriculture, corporate governance, decarbonisation, distributed generation, en.wikipedia.org, energy security, energy transition, global supply chain, hydrogen economy, income inequality, industrial cluster, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Isaac Newton, job automation, knowledge economy, manufacturing employment, marginal employment, Martin Wolf, Masdar, megacity, Mikhail Gorbachev, new economy, off grid, oil shale / tar sands, oil shock, open borders, peak oil, Ponzi scheme, post-oil, purchasing power parity, Ray Kurzweil, Ronald Reagan, scientific worldview, Silicon Valley, Simon Kuznets, Skype, smart grid, smart meter, Spread Networks laid a new fibre optics cable between New York and Chicago, supply-chain management, the market place, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, transaction costs, trickle-down economics, urban planning, urban renewal, Yom Kippur War, Zipcar

So let’s get on with it.” —Bruce Mosler, chairman of Cushman & Wakefield Global Brokerage “Very compelling . . . while many experts focus on how to transform our energy systems, few offer such a comprehensive economic vision and social road map as Jeremy Rifkin. The ‘Energy Internet’ will lift our world to a new plateau of economic growth, while at the same time addressing climate change and increasing our energy security. . . . A must-read.” —Guido Bartels, chairman of the Global Smart Grid Federation “An exciting vision for a post-carbon society. Rifkin embeds green transport inside a new high-tech Third Industrial Revolution infrastructure, re-framing the very concept of human mobility. This could well be the future of transportation.” —Alan Lloyd, president of the International Council on Clean Transportation “The old ways of creating wealth just don’t work anymore, and politicians the world over are struggling to cope with the convergence of financial meltdown, huge debt, rising commodity and energy prices, accelerating climate change, and food and water shortages.

To be fair, I have seen this phenomenon over and over in my dealings with heads of state. They come into office on fire with ambitious visions of the future, only to succumb to the daily slog of putting out little fires. On his first day in office, President Obama turned immediately to the issue of resuscitating the economy. His administration latched on to the idea of bundling economic recovery with the two other critical challenges facing the country—energy security and climate change. The president began to talk up the prospect of a green economy and how it would create thousands of new businesses and millions of new jobs. The message resonated with many members of Congress. But the reason an overarching new economic game plan has never been rolled out is not just because we need to cut back public spending and reduce government deficits, but because the administration is missing, to quote former president George W.

While none of us oppose giant wind farms and solar parks—I even think they are essential to making a transition to a post-carbon Third Industrial Revolution economy—we began to believe these alone would not be sufficient. If renewable energy is found everywhere, how do we collect it? In early 2007, the European Parliament Energy and Climate Change committees were preparing reports on next steps in energy security and global warming. I received a call from Claude Turmes, the European Parliament’s leading authority on renewable energy. He urged me to enlist the construction industry in our efforts. Claude knew that I was in touch with some of Europe’s and America’s leading construction companies working in sustainable design and that I was beginning to give talks about the need to convert building stock into mini power plants.


pages: 501 words: 134,867

A Line in the Tar Sands: Struggles for Environmental Justice by Tony Weis, Joshua Kahn Russell

addicted to oil, Bakken shale, bilateral investment treaty, call centre, carbon footprint, clean water, colonial exploitation, conceptual framework, corporate social responsibility, decarbonisation, Deep Water Horizon, en.wikipedia.org, energy security, energy transition, Exxon Valdez, failed state, global village, guest worker program, happiness index / gross national happiness, hydraulic fracturing, immigration reform, Intergovernmental Panel on Climate Change (IPCC), investor state dispute settlement, invisible hand, liberal capitalism, LNG terminal, market fundamentalism, means of production, Naomi Klein, new economy, Occupy movement, oil shale / tar sands, peak oil, profit maximization, race to the bottom, smart grid, special economic zone, WikiLeaks, working poor

In a series dubbed “The War for the Oil Sands in Washington,” Tyee reporter Geoff Dembicki examined how “Doer has devoted much of his professional energy to promoting the oil sands industry, flying to industry roundtables, meeting with US policymakers, and speaking to national magazines.”27 On the legislative front, the Conservative government’s first target was a law established at the end of 2007: Section 526 of the Energy Security and Independence Act, which is often referred to as the Waxman bill, having been introduced by Democratic congressman Henry Waxman. The Waxman bill effectively forbids government agencies—including the US military, by far the largest government purchaser—from buying oil with a larger than average carbon footprint. In response, Canadian embassy officials began strategic communications with the American Petroleum Institute and its offshoot, the Center for North American Energy Security, as well as with companies such as Exxon Mobil, BP, Chevron, Marathon, Devon, and Encana.28 The goal was to ensure that the Waxman bill would not apply to the tar sands, as Waxman had intended.

According to Geoff Dembicki, Canadian officials attempted to intervene at least five times to affect how California defined its LCFS.33 In April 2009, Canada’s minister of natural resources, Lisa Raitt, wrote to Governor Schwarzenegger expressing a fear that “your LCFS regulation … could serve as a model for other states and perhaps the US federal government,” and urging “that the LCFS regulation should assign all mainstream crude oil fuel pathways the same CI [carbon intensity] rather than distinguish among different sources of crude oil.”34 The pressure did not stop there. The Center for North American Energy Security, an organization that has worked closely with the Canadian embassy in promoting the tar sands, sued California to repeal the LCFS in conjunction with two other groups, arguing that the policy would “harm [US] energy security by discouraging the use of Canadian crude oil.”35 The first phase of the lawsuit was successful, forcing California to postpone its LCFS policy in late 2011 until it could be adjudicated at a higher court. In 2010, the state of Wisconsin proposed an LCFS similar to California’s as part of its Clean Energy Jobs Act, and again Canadian officials formally intervened.

The centrality of oil in global capitalism is reflected in the fact that oil-centred giants, like ExxonMobil, Royal Dutch Shell, BP, Chevron, and Sinopec, consistently rank among the largest and most profitable corporations in the world. The geopolitical dimension of this push is plainly apparent in the Harper government’s attempts to promote Canada as a world “energy superpower,” which is capable of enhancing the “energy security” for its friends, most notably the US. It is clear that the race to expand the production of unconventional reserves like bitumen is tied to the decline of conventional oil and gas reserves. In addition to tar sands, this general pressure is also central to the rise of hydraulic fracturing (more commonly known as “fracking”) for “tight” oil and natural gas and the mining of kerogen shale (a bitumen-like substance), as well as increasing offshore drilling in deeper water and higher latitudes for conventional reserves.


pages: 944 words: 243,883

Private Empire: ExxonMobil and American Power by Steve Coll

addicted to oil, anti-communist, Atul Gawande, banking crisis, Berlin Wall, call centre, carbon footprint, clean water, collapse of Lehman Brothers, corporate governance, corporate social responsibility, decarbonisation, energy security, European colonialism, Exxon Valdez, failed state, Fall of the Berlin Wall, Google Earth, hydraulic fracturing, hydrogen economy, illegal immigration, income inequality, industrial robot, Intergovernmental Panel on Climate Change (IPCC), inventory management, kremlinology, market fundamentalism, McMansion, medical malpractice, Mikhail Gorbachev, oil shale / tar sands, oil shock, peak oil, place-making, Ponzi scheme, price mechanism, profit maximization, profit motive, Ronald Reagan, Saturday Night Live, Scramble for Africa, shareholder value, Silicon Valley, smart meter, statistical model, Steve Jobs, WikiLeaks

Caracas to Washington, January 12, 2005 (W). Associated Press, January 8, 2007. 9. Lee Raymond: Fair Disclosure transcript, ExxonMobil Corporation Analyst Meeting, March 10, 2004, New York. Rex Tillerson: “A Conversation on Energy Security,” Council on Foreign Relations, March 9, 2007. The quotation is in direct response to a question about Mexico, but follows similar comments about Venezuela and global energy security in general. 10. Ibid. 11. George W. Bush to Rex Tillerson: Interview with an individual familiar with reports of the conversation and ExxonMobil’s response. 12. Rex Tillerson, “A Conversation on Energy Security,” op. cit. 13. All oil and gasoline price statistics cited are from the U.S. Energy Information Administration. 14. Simmons, Twilight in the Desert. 15. Morse, “Low and Behold.” 16.

The campaigners appealed above all to American nationalism; by keeping out Canadian oil, lawmakers would only ensure that Alberta’s oil was sold to China or Japan, leaving the United States even more dependent on unreliable suppliers from the Middle East and Venezuela. An ad taken out by the Consumer Energy Alliance in the Weekly Standard showed Caucasian schoolgirls at play, presumably Canadians: “Energy Security? The Answer Just Might Be Closer Than You Think.” ExxonMobil put its corporate shoulder into the lobbying campaign. David P. Bailey, an in-house specialist on the subject, joined a task force at the Council on Foreign Relations that was organized early in 2009 to produce a definitive study on the issue. The study group’s advisory committee included, besides Bailey, a Chevron representative, business consultants, academics, and environmentalists. The final report, “The Canadian Oil Sands: Energy Security vs. Climate Change,” was rigorous and thorough. It recommended addressing the greenhouse gas emissions problem posed by the Alberta sands through linked cap-and-trade systems in the United States and Canada.

Interview with David Gordon. 23. Interview with Aaron Friedberg. 24. Interview with a Bush administration official. 25. Interview with a former National Security Council official. 26. ExxonMobil’s scenario planning, “an element of surge . . . really happen”: Rex Tillerson remarks, “A Conversation on Energy Security,” Council on Foreign Relations, March 9, 2007. 27. Ibid. 28. All quotations, “A Conversation with Lee Raymond,” Charlie Rose, PBS, May 6, 2004. 29. “A Conversation on Energy Security,” op. cit. CHAPTER TWELVE: “HOW HIGH CAN WE FLY?” 1. “Was fortunate at this critical time” and “transform the relationship”: BBC News, November 15, 2001. “looked the man . . . soul”: BBC News, June 16, 2001. 2. Don Evans and Vladimir Putin, all quotations: Interviews with former Bush administration officials. 3.


pages: 469 words: 132,438

Taming the Sun: Innovations to Harness Solar Energy and Power the Planet by Varun Sivaram

addicted to oil, Albert Einstein, asset-backed security, autonomous vehicles, bitcoin, blockchain, carbon footprint, cleantech, collateralized debt obligation, Colonization of Mars, decarbonisation, demand response, disruptive innovation, distributed generation, diversified portfolio, Donald Trump, Elon Musk, energy security, energy transition, financial innovation, fixed income, global supply chain, global village, Google Earth, hive mind, hydrogen economy, index fund, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Internet of things, M-Pesa, market clearing, market design, mass immigration, megacity, mobile money, Negawatt, off grid, oil shock, peer-to-peer lending, performance metric, renewable energy transition, Richard Feynman, ride hailing / ride sharing, Ronald Reagan, Silicon Valley, Silicon Valley startup, smart grid, smart meter, sovereign wealth fund, Tesla Model S, time value of money, undersea cable, wikimedia commons

I’d been invited by the Japanese government to tour the plant, and although I wasn’t allowed to take pictures, I still vividly remember the sprawling complex of chemical towers, labyrinthine pipework, and hulking centrifuges. It’s an engineering marvel. After three decades and $25 billion in construction costs, Rokkasho is finally set to open in 2018. Rokkasho is a symbol of a Japanese obsession: energy security. An island nation with negligible domestic energy resources, Japan has fretted about its energy security ever since the oil shocks of the 1970s. And for most of the last half-century, nuclear power has anchored its strategy to seize control of its energy supply. Yet even as Rokkasho prepares to start recycling nuclear fuel to end Japan’s dependence on imports, most of its nuclear reactors have been shuttered. As a result, a desperate Japan is now looking to urgently ramp up its supply of solar power to achieve energy self-sufficiency.

“Japan Nuclear Update,” Nuclear Energy Institute, April 20, 2017, http://www.nei.org/News-Media/News/Japan-Nuclear-Update. 30.  Jason Deign, “Subsidy Cuts Will Cause a ‘Sharp Negative Turn’ in Japan’s Solar Market Through 2020,” Greentech Media, June 1, 2016, http://www.greentechmedia.com/articles/read/japan-plans-to-curb-solar-growth. 31.  Tim Buckley and Simon Nicholas, “Japan: Greater Energy Security Through Renewables,” Institute for Energy Economics and Financial Analysis, March 2017, http://ieefa.org/wp-content/uploads/2017/03/Japan_-Greater-Energy-Security-Through-Renewables-_March-2017.pdf. 32.  Aaron Sheldrick, “Japan to Cut Emphasis on Nuclear in Next Energy Plan: Sources,” Reuters, May 26, 2016, http://www.reuters.com/article/us-japan-nuclear-idUSKCN0YI06Z. 33.  Mike Stone, “Japanese Utilities Invest in Big Batteries to Help Bring More Renewables On-Line,” Greentech Media, May 19, 2015, http://www.greentechmedia.com/articles/read/japanese-utilities-invest-in-big-batteries. 34.  

The United States led this push and has profited handsomely as a result, now that the combined market for solar technologies is bigger than that for petroleum products. Just as America had surged past Saudi Arabia in 2013 to become the world’s biggest oil producer, so too did it dethrone China twenty years later as the leading manufacturer of solar technologies. That was just as well—or else America might have developed a dangerous dependence on imports of Chinese energy products. Instead, the United States managed to achieve prosperity and energy security at the cost of a few billion dollars a year in additional funding for research into and development and demonstration of new technologies—a rounding error on the federal budget.9 Solar PV remains the most widespread method of harnessing the sun’s energy even as other technologies, such as solar fuels, rise in popularity. To cope with the massive fluctuations of electricity from solar PV, countries have innovated in the design of their energy systems.


pages: 431 words: 107,868

The Great Race: The Global Quest for the Car of the Future by Levi Tillemann

Affordable Care Act / Obamacare, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, banking crisis, car-free, carbon footprint, cleantech, creative destruction, decarbonisation, deindustrialization, demand response, Deng Xiaoping, Donald Trump, Elon Musk, en.wikipedia.org, energy security, factory automation, global value chain, hydrogen economy, index card, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, Joseph Schumpeter, Kickstarter, manufacturing employment, market design, megacity, Nixon shock, obamacare, oil shock, Ralph Nader, RFID, rolodex, Ronald Reagan, Rubik’s Cube, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, skunkworks, smart cities, sovereign wealth fund, special economic zone, Steve Jobs, Tesla Model S, too big to fail, Unsafe at Any Speed, zero-sum game, Zipcar

But Anegawa kept getting distracted by a much more entrepreneurial thought. If TEPCO were going to expand nuclear power generation, he reasoned, it would help to show the Japanese people that nuclear power was a solution to the country’s broader energy issues—including energy security and climate change. There had to be value added beyond the traditional electricity-dependent sectors. Japan’s cars, trucks, boats, and planes still relied on world oil markets, and Anegawa wanted to change this. Transportation was, in some senses, the final frontier for Japanese energy security. So Anegawa wrote up a bold, transformative proposal for his superiors at TEPCO. The crux of this strategy was for the company to lead Japan in the electrification of automotive transportation. “I am not a battery scientist,” he later recalled.

Without CARB forcing the issue, it certainly appeared that EVs—the kind that plugged into the wall—were not going to happen anytime soon. But one Japanese engineer didn’t get that memo. Perhaps this was because he worked not for an auto company, but for a sprawling nuclear utility. Indeed, the engine that drove Takafumi Anegawa was nuclear power. While much of Japanese society looked on nuclear energy with suspicion—even hostility—Anegawa was different. In nuclear, he saw a solution to his homeland’s energy security equation and environmental problems. Nuclear was already integral to Japan’s electrical system, but Anegawa thought it could do more—especially in transportation. But even the Tokyo Electric Power Company (TEPCO)—Japan’s largest provider of electricity and nuclear energy—could not simply move forward on this vision alone. It needed to secure the support of various stakeholders within Japanese society.

Many poor decisions were made and many of the prominent battery and automotive startups funded by the stimulus did not fare well. That said, there were also some pathbreaking successes. The stimulus was animated by diverse and sometimes conflictual goals. Channeling government largesse toward economically strategic regions was one. Seeding new industries was another. Then, of course, there were the twin goals of increasing U.S. energy security and reducing carbon emissions. Early on, savvy operators understood that a strong letter from a powerful congressman or senator might mean the difference of millions of dollars in government grants or loans. So too could the decision to site a project in a specific state or congressional district. The Big Three One priority for Washington, of course, was the traditional auto sector.


pages: 537 words: 158,544

Second World: Empires and Influence in the New Global Order by Parag Khanna

"Robert Solow", Admiral Zheng, affirmative action, anti-communist, Asian financial crisis, Bartolomé de las Casas, Branko Milanovic, British Empire, call centre, capital controls, central bank independence, cognitive dissonance, colonial rule, complexity theory, continuation of politics by other means, crony capitalism, Deng Xiaoping, different worldview, Dissolution of the Soviet Union, Donald Trump, Edward Glaeser, energy security, European colonialism, facts on the ground, failed state, flex fuel, Francis Fukuyama: the end of history, friendly fire, Gini coefficient, global reserve currency, global supply chain, haute couture, Hernando de Soto, illegal immigration, income inequality, informal economy, invisible hand, Islamic Golden Age, Khyber Pass, Kickstarter, knowledge economy, land reform, low cost airline, low skilled workers, mass immigration, means of production, megacity, Monroe Doctrine, Nelson Mandela, oil shale / tar sands, oil shock, open borders, open economy, Parag Khanna, Pax Mongolica, Pearl River Delta, pirate software, Plutonomy: Buying Luxury, Explaining Global Imbalances, Potemkin village, price stability, race to the bottom, RAND corporation, reserve currency, rising living standards, Ronald Reagan, Silicon Valley, Skype, South China Sea, special economic zone, stem cell, Stephen Hawking, Thomas L Friedman, trade route, trickle-down economics, uranium enrichment, urban renewal, Washington Consensus, women in the workforce

As during the Cold War, the United States and Russia still have nuclear weapons pointed at each other on hair-trigger alert. Yet even as Russia blocks NATO expansion and delays American missile shields, it cannot stop the EU. For over a decade, Europeans considered Russia “too close and too big” to aggravate, and it needed Russia’s cooperation to end the Balkan wars. But from Ukraine to Kosovo to Chechnya, Russia proved better at thwarting than assisting European goals like energy security, counterterrorism, and human rights. The tiny Baltic statelets then outmaneuvered Russia using diaspora lobbies, slick branding campaigns (think “E-stonia”), and investor-friendly economic policies, seducing the EU into uncommon quick-wittedness. When Russia stalled in settling its borders with the Baltic nations (which by EU regulation should have delayed their membership talks), Europe let these statelets in anyway.

Russia refers to the countries of the Caucasus as its “communal apartment”—code for a region where it can continue to wash the dirty laundry of the grand strategy it knows best: divide et impera. Russia provokes conflict and then intervenes, claiming it is the only power capable of separating these squabbling children to keep the peace. To break this cycle, the West’s new gamble is to make the Caucasus part of Europe’s “Near Abroad” rather than Russia’s. If it succeeds, the Caucasus nations will have risen out of the third world, and Western energy security will be that much closer to assured. GEORGIA: ON EUROPE’S MIND Imagine a country of abandoned villages, collapsed buildings, battered trucks belching clouds of foul exhaust, women selling corn on the roadside, children bathing in drying riverbeds, and haggard beggars in the capital city. Now imagine that its citizens are white. For all the rhetoric of reversed fortunes, revolutions reveal far more about how broken a society is than about how ingrained its virtues are.

Despite finally quelling the insurgency in Chechnya, Russia has yet to legitimize its rule in the broader Muslim-populated northern Caucasus region and the republic of Tatarstan, which with Europe’s largest mosque in Kazan remains a permissive environment for anti-Russian sentiment.2 The fierce Chechen character captured in Tolstoy’s Hadji Murat has sabotaged Russia throughout history—and may yet return. “They have tried to co-opt Chechnya,” observed a Georgian diplomat, citing the grand mosque Russia recently built in Grozny, just slightly smaller than that of Kazan. “But Russia never retreats the easy way, always choosing instead to make things more difficult for itself.” A sphere of influence is a sphere of responsibility, meaning that Western energy security and democratization strategies must come together to build another European subregion in the Caucasus—and to accelerate Russia’s retreat. Through the 1990s, energy companies were the West’s main representatives in the Caucasus, serving as self-interested but strategically backed commercial diplomats. They brokered the “deal of the century,” as it was then called: the Baku-Tbilisi-Ceyhan (BTC) pipeline, the second longest in the world, built mostly underground to avoid sensitive areas (including circumventing Armenia altogether) and making Turkey, on whose Mediterranean shore the pipeline ends, a conduit for close to 10 percent of the world’s oil.3 At the inauguration of the BTC pipeline in 2005, Saakashvili declared it a geopolitical victory for Azerbaijan, Georgia, and the West “that will seriously change the balance of power in the region, bringing prosperity and strengthening independence.”4 With a $4 billion price tag, the thousand-mile BTC pipeline is a small price to pay to secure the Caucasus for the West.


pages: 168 words: 46,194

Why Nudge?: The Politics of Libertarian Paternalism by Cass R. Sunstein

Affordable Care Act / Obamacare, Andrei Shleifer, availability heuristic, Cass Sunstein, choice architecture, clean water, Daniel Kahneman / Amos Tversky, Edward Glaeser, endowment effect, energy security, framing effect, invisible hand, late fees, libertarian paternalism, loss aversion, nudge unit, randomized controlled trial, Richard Thaler

Related regulations require improvements in the energy efficiency of household appliances, such as refrigerators, clothes washers, and clothes dryers. What is the rationale for such regulations? Insofar as we are dealing with air pollution, the justification is quite standard: to reduce externalities. And insofar as the goal is to promote energy security by reducing dependence on foreign oil, the justification also involves externalities. But as noted, the strong majority of the benefits from such rules do not involve air pollution or energy security. They involve consumer savings, in the form of reduced costs from use. Should those savings be counted in the analysis of what to do? On one view, they should not be. There is a market for fuel economy and for energy efficiency. Consumers can trade off the relevant values as they see fit. They can certainly purchase cars with excellent fuel economy.

In 2011, the Department of Transportation and the Environmental Protection Agency produced new fuel-economy labels with this goal in mind; the new labels explicitly draw attention to the economic benefits of greater fuel economy.46 An understanding of the problem of shrouded attributes also helps to identify a potential justification for regulatory standards in the domains of fuel economy and energy efficiency, involving a behavioral market failure. Of course, such standards reduce social costs by cutting air pollution and promoting energy security. To the extent that they reduce these costs, they do not involve paternalism in any way. But most of the benefits from recent rules are private; they come from consumer savings.47 Here is where paternalism becomes relevant. On standard economic grounds, it is not simple to identify a market failure that would justify taking account of such benefits. After all, people can buy fuel-efficient vehicles if they want.

If you are making yourself drunk or even sick, you might affect others. In the cases just described, it is possible that regulation can be justified on grounds that have nothing to do with paternalism. To see some of the complexities here, recall recent rules that require increases in fuel economy. We have seen that such rules produce substantial social benefits by reducing air pollution and by increasing energy security; producing these benefits does not involve paternalism. But as we have also seen, the strong majority of the benefits of such rules come from private fuel savings, and producing those benefits might reasonably be thought to involve paternalism. To get clear on the underlying issues, and to keep the focus on paternalism, let us put third-party effects entirely to one side. If we begin with this definition, the central objection to paternalistic interventions, elaborated most famously by Mill, is that people should be free to choose as they see fit.


pages: 403 words: 132,736

In Spite of the Gods: The Rise of Modern India by Edward Luce

affirmative action, Albert Einstein, Bretton Woods, call centre, centre right, clean water, colonial rule, crony capitalism, cuban missile crisis, demographic dividend, energy security, financial independence, friendly fire, Gini coefficient, Haight Ashbury, informal economy, job-hopping, Kickstarter, land reform, Mahatma Gandhi, Martin Wolf, megacity, new economy, plutocrats, Plutocrats, profit motive, purchasing power parity, Silicon Valley, trade liberalization, upwardly mobile, uranium enrichment, urban planning, women in the workforce, working-age population, Y2K

But Manmohan’s judgment is very widely admired. So when he gives a strong opinion that you have not heard before, it is worth taking note. “The quest for energy security is second only in our scheme of things to our quest for food security,” said Manmohan, in his almost whispering voice. “India is dependent on imported energy, and what goes on in the world today, the growing instability of supplies, gives rise to new challenges. The producers must come to terms with the fact that instability is not something that is conducive to the interest of either the buyers or the sellers.… Energy security is of critical importance [to India].”28 To take a small liberty with Manmohan’s pronouncement, energy security is actually a bigger headache for India than is food security. In the last twenty-five years India has broken the back of its food supply difficulties and is likely to become a large food exporter in the years ahead.

In both cases, the charge is being led by state-owned energy companies and, contrary to the advice of free market purists, who argue that supplies can more efficiently be tied up in the energy futures market, both countries want to extract the oil or gas directly. China and India’s ever-restless quest for energy security involves striking deals with a number of rogue regimes around the world. Most important of all, it involves forging close ties to Iran. Journalists in Asia have dubbed the India-China race for energy security the “New Great Game,” a reference to the old Great Game, which was a race between imperial Britain and czarist Russia in the nineteenth century to gain sway over the vast tracts of central Asia that divided the Raj from Russia’s southern boundaries. The New Great Game is less romantic. But its outcome will have as much impact on the shape of world geopolitics as did the Victorian race between London and Moscow.

India now produces more than enough food to cater to the nutritional needs of its growing population, even though its system of food distribution to the poor leaves much to be desired. On energy, however, India’s internal shortfall is large and growing. At the moment India imports 70 percent of its oil needs, and that figure is expected to rise to 90 percent in the next two decades as the domestic economy expands. Likewise, if the dollars being thrown around in overseas acquisitions are any guide, energy security is also one of the most critical issues facing China. The energy situations facing India and China are strikingly similar. Both have large reserves of coal, which is mostly dirty and inefficient. Both also have oil but not of a sufficient quantity to give them much comfort. Both countries—particularly China—have built controversial dams to boost their hydroelectric capacity. But the political cost of building dams is high and rising.


pages: 217 words: 61,407

Twilight of Abundance: Why the 21st Century Will Be Nasty, Brutish, and Short by David Archibald

Bakken shale, Climategate, Climatic Research Unit, deindustrialization, energy security, failed state, Francis Fukuyama: the end of history, income per capita, Intergovernmental Panel on Climate Change (IPCC), means of production, mutually assured destruction, oil shale / tar sands, oil shock, out of africa, peak oil, price discovery process, rising living standards, sceptred isle, South China Sea, University of East Anglia, uranium enrichment, Yom Kippur War

Millions of people may have to endure many harsh years before this pernicious cult is vanquished. And until the global warming myth is exploded, the security of the United States—and thus of the world—is also at risk. A STRATEGIC ENERGY PLAN FOR THE UNITED STATES For the last forty years, American presidents have noted that energy security is a problem that needs addressing and solving. But none of those presidents has understood energy—even though one worked in the oil industry. A number of the presidents have acted against U.S. energy security, often unwittingly. Under President Nixon, the thorium molten-salt reactor project was killed off to free up funds for the plutonium fast-breeder reactor, which was itself later abandoned. President Ford stopped the recycling of spent nuclear fuel. President Carter built a synthetic fuels plant that made the wrong product.

Fifty percent of the inherent chemical energy in natural gas becomes power to the wheels in a CNG vehicle, and we can utilize it practically straight out of the ground. Some other nations have already arrived at the conclusion that CNG is what should be used as a vehicle fuel when one wishes to save oil. Both Iran and Pakistan have in the order of 2.9 million CNG passenger vehicles each, with market penetration in Pakistan being 70 percent. BLIND ALLEYS Devotees of the global warming myth, who at the moment are very effectively blocking our path to energy security for the future, are meanwhile also cheerleading for a number of alternative technologies, none of which can solve our energy problems. Electrically powered vehicles, for example, are a poor solution to the problem of providing cheap and efficient personal transport. Let’s begin with the question of energy efficiency. If coal is passed through a CTL plant and converted to diesel, 60 percent of the chemical energy the coal began with will be in that diesel.

For example, in Utah’s Piceance Basin, the formation is up to 1,600 feet thick with 800 feet of overburden. The open cut would therefore be at least 2,400 feet deep. Mining on this scale is already being undertaken in Utah. Just south of Salt Lake City, the nearly hundred-year-old Bingham Canyon copper mine has already reached a depth of 3,600 feet and is four miles long. CHINA FORGES AHEAD The issues of energy security, energy independence, and energy strategy rise to the top of public and political consciousness in the United States every so often, and then interest fades as the immediate problem seems to be overcome. By comparison, there is one country, and only one country, that has assessed the resources that nature has given it and is getting on with the job of securing its energy future. Unfortunately, that country also wishes the United States ill.


pages: 554 words: 168,114

Oil: Money, Politics, and Power in the 21st Century by Tom Bower

addicted to oil, Ayatollah Khomeini, banking crisis, bonus culture, corporate governance, credit crunch, energy security, Exxon Valdez, falling living standards, fear of failure, forensic accounting, index fund, interest rate swap, kremlinology, LNG terminal, Long Term Capital Management, margin call, Mikhail Gorbachev, millennium bug, MITM: man-in-the-middle, Nelson Mandela, new economy, North Sea oil, offshore financial centre, oil shale / tar sands, oil shock, passive investing, peak oil, Piper Alpha, price mechanism, price stability, Ronald Reagan, shareholder value, short selling, Silicon Valley, sovereign wealth fund, transaction costs, transfer pricing, zero-sum game, éminence grise

At every level, from the Kremlin down to the oilfields’ managers in Siberia, insiders snatched a share, sometimes using violence, tipping the fledgling democracy beyond Yeltsin’s control. The chaos was broadly welcomed in Washington as providing an opportunity to replace Russia’s historic control over the estimated 200 billion barrels of oil and gas around the Caspian Sea. Baku had become a boom town filled with Tex-Mex food, nightclubs and Texans smelling big money. “This is about America’s energy security,” announced Bill Richardson, the energy secretary. “It’s also about preventing strategic inroads by those who don’t share our values.” Ignoring Russia’s antagonism and the region’s recurring wars over control of the Caspian, Richardson added, “We’re trying to move these newly independent countries towards the West. We would like to see them reliant on Western political and commercial interests rather than going another way.”

Every year since 1986 domestic production had fallen by between 2.5 percent and 6.5 percent, and was now below seven million barrels a day. The domestic industry could have been expanded to produce nine million barrels a day, but it felt battered, especially by Senator Barbara Boxer of California’s conservation campaign. The crisis gave the oil companies a chance to use the extra profits to invest. Instead, their profits were attacked. “We are now relying on military force rather than energy policy for our energy security,” observed Senator Frank Murkowski of Alaska, unsuccessfully seeking more exploration in his state. “Americans will find it unacceptable to put American lives at risk because we have not made the hard choices to formulate a policy.” In the aftermath of Iraq’s defeat, the industry’s plight worsened. Most traders had expected prices to rise. Over 600 wells were blazing in Kuwait, whose oilfields were strewn with booby traps, unexploded bombs, land mines and huge lakes of crude oil.

Considering the company’s potential 10 years earlier, shareholders had lost confidence in Hearne. Like Lasmo, another British oil company, Enterprise had failed to use its North Sea fields to expand and to gain a place among the major players. Together, Lasmo and Enterprise symbolized Britain’s squandered opportunity. Enterprise had been created in 1983 by a Conservative government ideologically opposed to the state producing oil and gas, and keen, regardless of Britain’s long-term energy security, to immediately receive a large amount of cash. Convinced that there would always be a surplus of oil supplied by BP and Shell, Margaret Thatcher privatized the North Sea’s reserves in 1986, just as prices crashed. This was followed in July 1988 by an explosion on the Piper Alpha platform, killing 167 workers. By then, civil servants had fled from the shrinking Department of Energy. Floundering without any considered policy, over the following years the government repeatedly altered the tax rates, replaced ministers of energy and changed policies.


pages: 436 words: 114,278

Crude Volatility: The History and the Future of Boom-Bust Oil Prices by Robert McNally

American energy revolution, Asian financial crisis, banking crisis, barriers to entry, Bretton Woods, collective bargaining, credit crunch, energy security, energy transition, housing crisis, hydraulic fracturing, index fund, Induced demand, interchangeable parts, invisible hand, joint-stock company, market clearing, market fundamentalism, moral hazard, North Sea oil, oil rush, oil shale / tar sands, oil shock, peak oil, price discrimination, price stability, sovereign wealth fund, transfer pricing

After the tumultuous 1970s and early 1980s, during the long period of relatively stable oil prices from 1986 to early 2000s (with the exception of the 1990–1991 Gulf War), Washington reverted to aloofness and complacency with regard to the oil industry and energy security. In 1986, the Reagan administration decided to ease fuel economy standards for model years 1987 and 1988.23 During the 1990s the Clinton administration and Congress looked the other way when the auto industry and motorists exploited a loophole in fuel economy standards for gas-guzzling sport utility vehicles. SUVs and minivans are also exempt from a federal “gas-guzzler tax” enacted in 1978.24 Public and official concern about energy security abated during the 1990s. Despite a doubling in dependence on imported oil after 1985, from about 25 percent to over 50 percent, in 1996, a Republican Congress and Democratic White House agreed to sell off some of the strategic reserves in 1996 to plug holes in the federal budget.

Over the four preceding decades, the US and its allies had enjoyed stable oil prices and felt secure about supply security, though the 1967 and especially 1956 disruptions did cause a fright, particularly in Europe. But shifts that began after World War II and gathered force in the 1960s—soaring oil demand and replacement of the U.S. with the Middle East as key supply region—triggered a convulsion and reshaped the global oil market, shattering prior complacency about energy security and energy policy. Western governments and majors had ignored OPEC after it was created in 1960. “But now, in the middle 1970s, all that had changed,” Daniel Yergin wrote. “The international order had been turned upside down. OPEC’s members were courted, flattered, railed against, and denounced. There was good reason. Oil prices were at the heart of world commerce, and those who seemed to control oil prices were regarded as the new masters of the global economy.”37 Western shock and dismay was compounded by lack of unity between the U.S. and Europe, which struggled to formulate a common policy.

Strategic Petroleum Reserve became the centerpiece a comprehensive national energy law signed in December 1975 by Nixon’s successor President Ford to address the ongoing “energy crisis.” Called the Energy Policy and Conservation Act, the law also included a ban on crude oil and refined product exports, conservation standards for appliances, and vehicle fuel limits called Corporate Average Fuel Economy (CAFE) regulations. While initially intended to promote energy security by lowering oil imports and save consumers money at the pump, in recent years the federal government has added reducing greenhouse gas emissions to CAFE’s objectives. Oil began pouring into underground salt caverns chiseled under the Texas and Louisiana coasts in July 1977, and the SPR came to life. Other IEA countries also established crude and in some cases petroleum product reserves. But persistent divisions between the allies limited the IEA’s effectiveness.


pages: 257 words: 94,168

Oil Panic and the Global Crisis: Predictions and Myths by Steven M. Gorelick

California gold rush, carbon footprint, energy security, energy transition, flex fuel, income per capita, invention of the telephone, meta analysis, meta-analysis, North Sea oil, oil shale / tar sands, oil shock, peak oil, price stability, profit motive, purchasing power parity, RAND corporation, statistical model, Thomas Malthus

Finally, Chapter 5 applies some of the lessons learned from the examination of non-energy Earth resources to the analysis of global oil resources and explores important issues affecting our future reliance on oil. Notes and References 1. 2. 3. 4. Yergin, D. (1991). The Prize: The Epic Quest for Oil, Money, and Power. New York: Free Press, Simon and Schuster. Darwin, C. (1859). The Origin of Species, reprinted in 1979 by Gramercy Books, Random House, New York: 461 pp. Greene, D. L. (2009). “Measuring Energy Security: Can the United States Achieve Oil Independence?” Energy Policy. ISSN 0301-4215, DOI: 10.1016/j. enpol.2009.01.041 (in press). Porter, E. D. (1995). “Are We Running Out of Oil?” American Petroleum Institute Policy Analysis and Strategic Planning Department, American Petroleum Institute, Discussion Paper #081. 14 End of the Oil Era 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

Oil Reserves Get a Big Boost: Chevron-Led Team Discovers Billions of Barrels in Gulf of Mexico’s Deep Water,” Wall Street Journal, December 6, 2006. www. chevron.com/news/press/Release/?id=2006-09-05 “Performance Profiles of Major Energy Producers 2007,” www.eia.doe.gov/ emeu/perfpro/tab01.htm www.eia.doe.gov/emeu/perfpro/020607.pdf Pirog, R. (2007). The Role of National Oil Companies in the International Oil Market, Congressional Research Service Report, August 21, 2007. Greene, D. L. (2009). “Measuring Energy Security: Can the United States Achieve Oil Independence?” Energy Policy (in press: doi:10.1016/j. enpol.2009.01.041). Energy Information Administration reporting of Oil and Gas Journal value (January 2008); BP Statistical Review (2008); www.opec.org/home/basket.aspx The average price of OPEC oil in 2008 was $95 per barrel. This gave a total value of OPEC reserves of about $87 trillion. The gross world product in 2008 was $69 trillion (IMF estimate in purchasing power parity, ppp). www.imf.org/ external/pubs/ft/weo/2008/01/pdf/tables.pdf Reported here are data from the US Energy Information Administration.

“Global Petroleum Resources: A View to the Future,” Geotimes, November 2002. 1 metric ton (or tonne) of coal is equal to 2204.6 pounds, which is equivalent to 3.8 barrels of oil. 2008 BP Statistical Review of World Energy and 2006 World Energy Council Survey of Energy Resources, www.worldenergy.org Lower estimate from 2008 BP Statistical Review and the higher from EIA 2007 World Energy Outlook. 5 Beyond Panic High gasoline prices in 2008 served as a reminder of our vulnerability to limited domestic oil production and dependence on oil imports, especially from OPEC. The future of dependence on imports and, more generally, the oil-energy path requires public policy decisions about energy security, economic stability, and risks to the environment. These issues are discussed in this chapter. The US and other oil-importing nations must resolve the problems of energy dependence and environmental degradation due to oil consumption. Should global oil supply meet demand for the foreseeable future, we must ask: at what cost to our safety, economy, and environment? The Non-Renewable Resource Model Perhaps lessons from historical production of other globally traded nonrenewable Earth resources are applicable to oil.


pages: 323 words: 89,795

Food and Fuel: Solutions for the Future by Andrew Heintzman, Evan Solomon, Eric Schlosser

agricultural Revolution, Berlin Wall, big-box store, clean water, Community Supported Agriculture, corporate social responsibility, David Brooks, deindustrialization, distributed generation, energy security, Exxon Valdez, flex fuel, full employment, half of the world's population has never made a phone call, hydrogen economy, Kickstarter, land reform, microcredit, Negawatt, Nelson Mandela, oil shale / tar sands, oil shock, peak oil, RAND corporation, risk tolerance, Silicon Valley, statistical model, Upton Sinclair, uranium enrichment

Analytically, Lovins drew two different, and opposing, pictures of energy policy, one relying on centralized, large-scale, capital-intensive technologies to meet rapidly rising demand (the “hard path”), and the other, the “soft path,” emphasizing energy conservation2 as the primary focus, with mainly smaller-scale renewable energy supply options selected to be more environmentally and socially benign. We will discuss the content, the analytics, and some results of the soft path approach later in this chapter; for now, however, the key point is that Lovins (and subsequent soft path analysts) took both sides of the energy security vs. environment debate absolutely seriously. Environmentalists taking a soft path approach to energy policy accepted that decision makers must consider and plan for energy security, and that economics did matter. Moreover, they met head-on one of the main criticisms of their opposition to various megaprojects. Instead of merely pointing generally to more efficient technologies and renewable energy sources when challenged as to how, exactly, the demand for energy was going to be met, analysts doing soft path studies provided the comprehensive overview, including the hard numbers detailing energy supply-and-demand balances with alternative technologies, that was required for a serious response.

By 1906, Ford founded his own automobile company and that year, when Congress finally repealed the liquor tax, he announced that ethanol was the fuel of the future. His famous Model T was the first flex-fuel car, designed to run on a mixture of gasoline and ethanol, very much like the cars coming off the Ford plant in Dearborn today. A century later, Henry Ford’s ethanol revolution is actually happening. The record-high, volatile oil prices, combined with concerns over energy security and climate change, have made ethanol once again a popular fuel. Politicians of all stripes, including President Barack Obama, are open supporters of the idea that America can grow its energy. After all, ethanol means votes. In Iowa alone — a key state in every U.S. presidential primary season — over 50,000 jobs are dependent on the biofuel business. Governments around the world have followed suit, aggressively setting targets for increasing the percentage of ethanol mixtures in automotive fuel.

When we wrote that the need to develop a sustainable energy model was urgent, we were seen by some as alarmists. Nonetheless, many inside the energy industry knew that we were at the end of the age of abundance and at the beginning of a much more volatile age of energy scarcity. And then, just as we launched the book, 50 million North Americans were left in the darkness during the blackout of 2003. Suddenly energy security and supply became popular issues. Not long after, increasing media pressure brought to light the cascading problems of global climate change. We also knew that if there was an energy crisis there might well be a food crisis as well. After all, everyone in the energy sector knew that food and fuel are joined at the hip, from the price of artificial, fossil fuel–based fertilizers to the cost of gasoline needed to drive tractors.


pages: 422 words: 113,830

Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism by Kevin Phillips

algorithmic trading, asset-backed security, bank run, banking crisis, Bernie Madoff, Black Swan, Bretton Woods, BRICs, British Empire, business cycle, buy and hold, collateralized debt obligation, computer age, corporate raider, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, currency peg, diversification, Doha Development Round, energy security, financial deregulation, financial innovation, fixed income, Francis Fukuyama: the end of history, George Gilder, housing crisis, Hyman Minsky, imperial preference, income inequality, index arbitrage, index fund, interest rate derivative, interest rate swap, Joseph Schumpeter, Kenneth Rogoff, large denomination, Long Term Capital Management, market bubble, Martin Wolf, Menlo Park, mobile money, money market fund, Monroe Doctrine, moral hazard, mortgage debt, Myron Scholes, new economy, oil shale / tar sands, oil shock, old-boy network, peak oil, plutocrats, Plutocrats, Ponzi scheme, profit maximization, Renaissance Technologies, reserve currency, risk tolerance, risk/return, Robert Shiller, Robert Shiller, Ronald Reagan, Satyajit Das, shareholder value, short selling, sovereign wealth fund, The Chicago School, Thomas Malthus, too big to fail, trade route

In a nutshell, it is this total lack of any ‘alternative scenario thinking’ that makes this unavoidable event so alarming.”24 Flynt Leverett, a former aide on Bush’s National Security Council who left for the New America Foundation, wrote in 2006 that “U.S. foreign policy is ill-suited to cope with the challenges to American leadership flowing from the new petropolitics. Current policy does not take energy security seriously as a foreign policy issue or prioritize energy security in relation to other goals.”25 In late 2007, two major oil company chief executives, James Mulva of ConocoPhillips and Clarence Cazalot of Marathon Oil, endorsed the need for a decisive federal energy strategy. Mulva told BusinessWeek editors that “we don’t have a national energy policy,” while rival nations are amassing power. “The Chinese have a very coordinated strategy that allows them to support economic growth.”26 In a demonstration of how the industry’s planning sense far exceeds that of the Bush White House, Mulva emphasized four priorities: developing new energy sources, stepped-up federal investment in energy technology, conservation, and federal regulation of carbon emissions.

For proponents, the last break point and rebalancing came in the 1970s, when prices surged enough that conservation and attention to new energy sources mobilized to cut oil demand, if only for a while. 27 The hints of another watershed snowballed between 2005 and 2007—inadequate world oil and gas reserves; clearly insufficient new discoveries; stepped-up belief in peak oil; the unprecedented new demand from Asia, the Middle East, and Latin America; and the increasing salience of energy-security issues and even resource wars. The tumultuous 1970s were the last decade to experience an economic crisis alongside an energy break point, a precedent few populations would want to repeat. The politics of our current double dislocation is treated in chapter 6, albeit without much conviction that it can still be fixed. The U.S. political system is not broken—weak presidents can plummet in the polls, voters can still mobilize, Congress can change hands—but both political parties have calcified in terms of interest-group domination and limited strategic capacity.

But even in those states, nonenergy industries vastly outweigh these activities. Absent an energy supply crisis, Democratic election strategies and blueprints for national governance will continue to emphasize energy consumers and environmental constituencies. On the Web site HillaryClinton.com, the one-and-a-half-page outline of her popular energy program, “Powering America’s Future: New Energy, New Jobs,” never uses the word “security” or the phrase “energy security.” By contrast, the word “green” is used ten times. Proposals include a “green building industry,” $20 billion in “green vehicle bonds,” promised new “green collar jobs,” and a new “Connie Mae” agency to help low- and middle-income families “to buy green homes and invest in green home improvements.”27 Moreover, going green isn’t just an energy nuance; it’s a potential opportunity for national uplift and economic mobilization (including five million jobs) on the heroic scale of World War II.


Interventions by Noam Chomsky

Albert Einstein, Ayatollah Khomeini, cuban missile crisis, energy security, facts on the ground, failed state, Monroe Doctrine, nuremberg principles, old-boy network, Ralph Nader, Thorstein Veblen, uranium enrichment, Washington Consensus, éminence grise

It’s not unlikely that an independent bloc of this kind might follow Iran’s lead in developing major energy projects jointly with China and India. Iran may give up on western Europe, assuming that it will be unwilling to act independently of the United States. China, however, can’t be intimidated. That’s why the United States is so frightened by China. China is already establishing relations with Iran—and even with Saudi Arabia, both military and economic. There is an Asian energy security grid, based on China and Russia, but probably bringing in India, Korea, and others. If Iran moves in that direction, it can become the lynchpin of that power grid. Such developments, including a sovereign Iraq and possibly even major Saudi energy resources, would be the ultimate nightmare for Washington. Also, the labor movement is re-establishing itself in Iraq, a very important development.

By an accident of geography, the world’s major oil resources are in largely Shiite areas of the Middle East: southern Iraq, adjacent regions of Saudi Arabia and Iran, with some of the major reserves of natural gas as well. Washington’s worst nightmare would be a loose Shiite alliance controlling most of the world’s oil and independent of the United States. Such a bloc, if it emerges, might even join the Asian Energy Security Grid and Shanghai Cooperation Organization (SCO), based in China. Iran, which already had observer status, is to be admitted as a member of the SCO. The Hong Kong South China Morning Post reported in June 2006 that “Iranian President Mahmoud Ahmadinejad stole the limelight at the annual meeting of the Shanghai Co-operation Organisation (SCO) by calling on the group to unite against other countries as his nation faces criticism over its nuclear programme.”

., 148, 175–176 See also Taliban African American op-ed writers, xx Agha, Hussein, 30 Ahmadinejad, Mahmoud, 208, 210 Ahmed, Samina, 39 airliner bombings, 68 Al-Aqsa Intifada, 31 Allende, Salvador, 143, 198 al-Qaeda alleged Saddam Hussein involvement, 36–37 and 9/11, 176 ambassadors, 89–92, 126 American Association for the Advancement of Science, 153 anarchism, 217 Annan, Kofi, 113 anthrax terrorism, 37 Anti-Ballistic Missile Treaty, 126 “anti-globalization” movement misnamed, 158 antilabor laws Iraq, 79, 164 antiscience, 151–154 antiwar movement, 20–21 apartheid, 30 Arab countries opinion of U.S., 1–3 Arafat, Yasser, 165–166 Arctic ice sheet melting, 153 Argentina, 171, 199 Arkhipov, Vasily, 21 arms control, 125–128 arms inspections, 50 arms race revival, 87–88 arms sales, 15, 28–29, 137 Army Corps of Engineers Bush II funding cuts, 148 Aronson, Geoffrey, 82 Asia foreign economic relations, 169–174 Asian Energy Security Grid, 208 assassinations Oscar Romero, 122 asylum requests, 68 Avnery, Uri, 33–34, 191 Ayalon, Ami, 38 baby boomers and Social Security, 129–130 Bachelet, Michelle, 198 Bacon, David, 79 Badr Brigade, 163 Bagdikian, Ben, xiii Baker-Hamilton Iraq Study Group, 202–203, 205 bankruptcy resulting from medical bills, 131 banks and banking Iraq, 78 Barnett, Corelli, 209 Bass, Gary J., 57 Bassiouni, Cherif, 107 Bechtel Corporation, 27, 53 Benjamin, Daniel, 15 Benvenisti, Meron, 82 Bergen, Peter, 22, 140 biblical prophets as dissident intellectuals, 214 Biden, Joseph, 139 Bin Laden, Osama, 2, 5, 20, 37, 38, 144 finances tracked, 87 biological warfare, 42 bioweapons ban scorned by U.S., 126 Blair, Bruce, 127–128 Blair, Tony and Saddam Hussein, 107 Iraqi public opinion, 43 Bolivia, 171, 199 and Venezuela, 198 Bolton, John, 126 bombings, 137 Afghanistan, 35, 38–39, 175, 176 Cambodia, 203–204 Cuban airliner, 68 Iraq, 74, 117, 134-135 London, 137, 140, 148 Madrid, 73 Palestinian, 31 Serbia, 175, 176, 179 “suicide bombings,” 31, 35 Borón, Atilio, 194 Bosch, Orlando, 68 boundaries Israel-Palestine, 29, 30, 33, 63 Boyce, Michael, 38 Brazil, 199, 200 Bremer, Paul, 44, 75 Brinkley, Joel, 158 Britain.


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Earth Wars: The Battle for Global Resources by Geoff Hiscock

Admiral Zheng, Asian financial crisis, Bakken shale, Bernie Madoff, BRICs, butterfly effect, clean water, cleantech, corporate governance, demographic dividend, Deng Xiaoping, Edward Lorenz: Chaos theory, energy security, energy transition, eurozone crisis, Exxon Valdez, flex fuel, global rebalancing, global supply chain, hydraulic fracturing, Long Term Capital Management, Malacca Straits, Masdar, mass immigration, megacity, Menlo Park, Mohammed Bouazizi, new economy, oil shale / tar sands, oil shock, Panamax, Pearl River Delta, purchasing power parity, Ralph Waldo Emerson, RAND corporation, Shenzhen was a fishing village, Silicon Valley, smart grid, South China Sea, sovereign wealth fund, special economic zone, spice trade, trade route, uranium enrichment, urban decay, WikiLeaks, working-age population, Yom Kippur War

Japan, South Korea, Taiwan, and India also are big Asian buyers of Saudi crude. In contrast, Saudi Arabia is only the third largest supplier to the world’s No. 2 energy consumer, the United States, behind U.S. regional neighbours Canada and Mexico (see Exhibit 5.2). Exhibit 5.2 World’s biggest importers of crude oil (in millions of tonnes) Source: IEA Key World Energy Statistics Oct 2011 In its quest for energy security, China has made some big investments overseas, primarily through its three main national oil companies—China National Petroleum Corp. (CNPC), China Petroleum & Chemical Corp. (Sinopec), and China National Offshore Oil Corp. (CNOOC). Although they are state-owned (with listed arms in Hong Kong, New York, and Shanghai), they are not necessarily “state-run,” in the view of the International Energy Agency.

Brazil has a thriving sugarcane-based ethanol industry to fuel its automobiles, with at least 12 global makers—VW, Ford, GM, Toyota, Honda, Mitsubishi, Nissan, Renault, Peugeot, Citroen, Fiat, and Kia—offering flex-fuel models for the Brazilian market that are capable of running on any blend of gasoline and ethanol. In the United States, pioneering automaker Henry Ford was an early advocate of biofuel, with some of his Model T Fords capable of running on ethanol as well as petrol or kerosene. Under U.S. energy security legislation, by 2022 at least 36 billion gallons (136 billion litres) of fuel used in the United States must come from renewable sources. Although the United States produces more ethanol than Brazil, it mainly uses corn as its feedstock rather than sugarcane. As more people question whether producing biofuel from the cornfields of Iowa and Nebraska is the best use of fertile croplands, some companies are starting to look beyond traditional feedstocks.

The listed company Kazmunaigas Exploration Production (KMGEP), which is held 59 percent by Kazmunaigas and 11 percent by China Investment Corp., produces about 500,000 barrels a day from its fields in Kazakhstan, including Uzenmunaigas, Embamunaigas, and its stakes in the Kazgermunai joint venture, the CCEL venture with China’s Citic, and PetroKazakhstan. The International Energy Agency said in its most recent world energy outlook that the Caspian Sea region has the potential to make a “significant contribution to ensuring energy security in the rest of the world, by increasing the diversity of oil and gas supplies.” But potential barriers to developing the Caspian’s oil and gas reserves include “the complexities of financing and construction transportation infrastructure passing through several countries, the investment climate and uncertainty over export demand.”12 In the IEA’s New Policies scenario, Caspian oil production jumps from 2.9 million barrels a day in 2009 to a peak of around 5.4 million barrels between 2025 and 2030, before falling back to 5.2 million barrels by 2035.


pages: 359 words: 97,415

Vanishing Frontiers: The Forces Driving Mexico and the United States Together by Andrew Selee

Berlin Wall, call centre, Capital in the Twenty-First Century by Thomas Piketty, Donald Trump, energy security, Gini coefficient, guest worker program, illegal immigration, immigration reform, income inequality, income per capita, informal economy, job automation, low skilled workers, manufacturing employment, oil shale / tar sands, open economy, payday loans, Richard Florida, rolodex, Ronald Reagan, Silicon Valley, Silicon Valley startup, Steve Wozniak, Y Combinator

Because Mexico has long been the third or fourth supplier of oil to the United States after Canada, Saudi Arabia, and sometimes Venezuela, Mexican energy reform has prompted huge expectations north of the border. “We can’t talk about US energy independence,” says Wallace, “but we can talk about energy independence in North America.” One report predicts that if Mexico’s energy reform generates the kind of investment that’s expected over the next few years, the three countries of North America could be close to energy security by 2020. Others put that date a few years further out. But almost all analysts agree that Mexico, the United States, and Canada will soon reach the point at which their combined energy resources meet and even exceed their needs. The reform process has already led to new collaborations between Mexico and the United States—and between Mexico and the rest of the world. Surprisingly, probably the biggest change since the reform has been to open the tap of natural gas flowing to Mexico.

And as oil prices recover, the rate of investment—which is already quite significant—will continue to increase. Roger Wallace believes the effects will go well beyond Mexico, making the entire North American region—and perhaps the whole world—far less vulnerable to supply shocks from crises in any specific country. “Mexico’s energy reform could help create a powerful new North American shock absorber,” he says, one “that would enhance energy security and diminish energy volatility in the years to come.” Few sights are more awe-inspiring than the transformation of scrap metal into steel. Bits and pieces of desks, chairs, signs, and leftover car bodies are poured into a 150-ton metal cauldron and heated to 1,600 degrees Celsius. After a few minutes the bubbling contents pour out in a red-hot river of iron, ready to be mixed with additives in another bubbling cauldron a few feet away.

See specific drug dual citizenship, 219, 221 See also binationalism dual heritage, 209–210 Duarte, Alfonso, 139 Ducey, Doug, 68, 69, 72 Dziczek, Kristen, 58 Ebright, Randy, 215 economic competitiveness, 59 economic decline, 8, 51, 190 economic growth, 18, 21, 67, 185, 186, 191, 192, 196–197, 201–202, 248 See also innovation economy economic track, concerns about, shorthand for, 21 education investment in, 189, 191 opportunities for, 192 reform of, 212 See also colleges/universities educational attainment, 4, 16, 18, 37, 65, 66, 86, 87, 97, 183, 186, 188, 191, 212, 228, 233, 241 El Colegio de México, 194, 207 El Mariachi, 2, 10, 12 El Paso Intelligence Center (EPIC), 171 electric power industry cross-border transmission lines in, 122 emergency ties in, 125 natural gas supply for, 119 oil supply for, 118, 119 percentage of renewables in, 123 prices in, 117, 118, 121, 124 shared electrical grid in, 117, 125–128 solar power for, 117, 123, 124 wind power supply for, 121–122, 123 Electric Reliability Council of Texas (ERCOT), 126 electricity trading hub, 127 electronics industry, 30, 37–38, 58 Ellis, Mark, 97 embassy, 160, 161, 221 employment decline in, 8, 59, 60, 61, 275 demographic change in, 9 micro-business loans and, 190 NAFTA and, 59, 61, 76 offshoring impacts on, 60 opportunities for, 192 remittances and, 191 rise in, 5, 63, 81, 88–89, 90, 91, 248, 270, 271 Enel, 124 energy costs of, 114, 118, 119, 120, 121, 124 flow of, rise in, 6, 271 trade balance involving, 51 See also electric power industry energy independence, 116, 131, 132 energy reform, 114, 115–117, 121, 123, 131–132 energy security, 117, 131 engineering, 18, 37, 38, 55, 87, 98, 99 English language and adaptation issues, 220 biculturalism and writing in, 216–217 call centers and, 193, 194, 207 eTrace in, issue with, 141 expatriates and, 215 film industry and, 227, 230, 234, 235, 237, 249 learning, 16, 32, 135, 186 limited, 187 newspaper, 213 preferences for, 194 radio, 206 song recording in, 222 sports outreach to fans using, 251 television, 251, 254, 255, 256 See also bilingualism entrepreneurship, rate of, 10, 185 envy, 30 Escalante, Amat, 242 Esquivel, Gerardo, 65 eTrace, 141 Europe ancestry from, superiority of, notion of, 210 eastern, emigration from, 2, 9, 13, 186, 188 See also specific countries European Union, 50, 59, 280 expatriate communities, 204, 206 expatriation and adaptation issues for children, assistance with, 219–221 biculturalism and, 213–215, 215–216, 217, 218–219 communities, 206, 215, 273 as embedded, 215 growth in, 205 history of, 208–209 population figures for, 24, 206 reasons for, 203–204, 205–206, 208–209, 212–213 exports agricultural, 49–50 auto industry, 55 border crossing and, 68, 71 manufacturing, dominance of, 63–64 mezcal, 263 natural gas, 6, 120, 271 oil, 120, 271 shared production process for, percentage of, 58–59 and tariffs, 36 See also imports; trade extortion, 166, 171, 180 extradition, 155 Family Portrait (film), 229 farming.


pages: 717 words: 150,288

Cities Under Siege: The New Military Urbanism by Stephen Graham

addicted to oil, airport security, anti-communist, autonomous vehicles, Berlin Wall, call centre, carbon footprint, clean water, congestion charging, creative destruction, credit crunch, DARPA: Urban Challenge, defense in depth, deindustrialization, digital map, edge city, energy security, European colonialism, failed state, Food sovereignty, Gini coefficient, global supply chain, Google Earth, illegal immigration, income inequality, knowledge economy, late capitalism, loose coupling, market fundamentalism, mass incarceration, McMansion, megacity, moral panic, mutually assured destruction, Naomi Klein, New Urbanism, offshore financial centre, one-state solution, pattern recognition, peak oil, planetary scale, private military company, Project for a New American Century, RAND corporation, RFID, Richard Florida, Scramble for Africa, Silicon Valley, smart transportation, surplus humans, The Bell Curve by Richard Herrnstein and Charles Murray, urban decay, urban planning, urban renewal, urban sprawl, Washington Consensus, white flight, white picket fence

As the manager of Future Combat himself remarked, ‘We use many of the same sorts of technology for autonomous navigation as the DARPA vehicles’.133 OIL SHOCKWAVE Military force and energy security are inseparable twins.134 Another aspect of the SUV, and of the broader culture of automobility, that must be examined in connection with the new urban militarism relates to the combination of rapidly rising oil demand and rapidly diminishing oil supply. Obviously, this presents major challenges for Western military doctrine. In light of the growing reliance on volatile supplies from the Middle East, Africa and Latin America, how can Western and US military forces support energy security – given the increasing military and economic strength of major competitors like China and India, which are struggling to meet their own exploding oil demand?

‘It is this centering of the life of the population rather than the safety of the sovereign or the security of territory’, writes David Campbell, ‘that is the hallmark of biopolitical power and that distinguishes it from sovereign power’.26 In oil wars, as in many other spheres of contemporary state activity, state violence – organized to defend the oil-dependent life of Western populations – operates in legal grey zones. In the name of this Western manner of life, norms of state sovereignty are often suspended, with the result that ‘the geopolitical pursuit of energy security is likely to produce new and intensive forms of insecurity for those in the new resource zones’.27 Oil wars, and the resultant deaths, should thus be understood in terms of Agamben’s notion of ‘bare life’ – life that can be extinguished with sovereign impunity. Urban automobile cultures tend to materialize and territorialize the separation between the domestic city, situated within the home space of the Western nation, and the borderlands, cursed with the ongoing resource wars which surround oil exploitation.

As a result, he predicts, the world will see recurring US military interventions, characterized by ‘the constant installation and replacement of client regimes, systemic corruption and repression, and the continued impoverishment of the great majority of those who have the misfortune to inhabit such energy-rich regions’. There is little doubt that the US military is putting much thought into the military and geopolitical imperatives associated with rapidly growing crises in energy security. Ironically, this is driven in part by the need to secure oil to supply its own stupendous appetite for oil: the US military itself consumed 134 million barrels of oil in 2005, as much as the entire population of Sweden. ‘Every day’, notes Klare, ‘the average G.I. in Iraq uses approximately 27 gallons of petroleum-based fuels’.147 In 2000 the Center for Strategic and International Studies (CSIS) in Washington argued that ‘the United States, as the world’s only superpower, must accept its special responsibilities for preserving access to the worldwide energy supply’.148 Between 2001 and 2009, through the US Central Command, or CENTCOM, the Bush administration exploited the War on Terror discourse to push highly controversial plans to build a formidable series of bases in Azerbaijan, Kyrgyzstan, Georgia, Kazakhstan and Uzbekistan (Figure 9.12).


pages: 433 words: 124,454

The Burning Answer: The Solar Revolution: A Quest for Sustainable Power by Keith Barnham

Albert Einstein, Arthur Eddington, carbon footprint, credit crunch, decarbonisation, distributed generation, en.wikipedia.org, energy security, Ernest Rutherford, hydraulic fracturing, hydrogen economy, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, James Watt: steam engine, Kickstarter, Naomi Klein, off grid, oil shale / tar sands, Richard Feynman, Schrödinger's Cat, Silicon Valley, Stephen Hawking, the scientific method, uranium enrichment, wikimedia commons

In Iran for instance, I suggest that, in return for stopping all uranium enrichment activity, the US and EU should offer to build a solar cell factory and a wind turbine factory, each capable of manufacturing systems producing 1 GW of electrical power a year. This would cost less than a new nuclear reactor. Within ten years Iran could have around 15 GW of new electricity capacity, much more than its nuclear programme will produce in that time. As neither wind nor PV requires fuel, they would give Iran much more energy security than a nuclear programme. Energy security is claimed to be the reason for the Iranian enrichment programme. Hence the leaders of Iran would not lose face with such a compromise. Remember that in many parts of Iran a PV system of a particular power will produce at least twice the electrical energy in a year of the same system in the UK. Both PV and wind will generate electric power in areas of Iran without a grid.

Physics had previously required three fundamental forces; gravity, electricity and magnetism. Now there were only two: gravity and electromagnetism. Third, and unintentionally, he had unleashed a technology that was ultimately to give us, though only after two revolutions, which I will describe, most of our modern devices – from giant particle accelerators down to mobile phones and ultimately, I hope, to non-burning energy security. Maxwell died in 1879, two years after the premiere of Tchaikovsky’s Swan Lake and, sadly, eight years before electromagnetic waves were first deliberately generated and detected in a laboratory. He therefore could not have been aware of the extraordinary range of practical applications that were made possible by his discovery. Could he possibly have imagined that the dancing electric fields and magnetic fields are so perfectly choreographed by his equations that, a century after his death, his waves could faithfully transport the whole of Swan Lake into many twentieth-century living rooms with movement, colour and sound reproduced as well as in a concert hall?

Naser Odeh, Nikolas Hill and Daniel Forster, ‘Current and Future Lifecycle Emissions of Key “Low Carbon” Technologies and Alternatives’, Ref. ED58386, 17 April 2013, Ricardo-AEA Ltd, Harwell, Didcot, OX11 0QR, http://www.theccc.org.uk/wp-content/uploads/2013/04/Ricardo-AEA-lifecycle-emissions-low-carbon-technologies-April-2013.pdf, accessed 20 January 2014. 22. Jan Willem Storm van Leeuwen, ‘Nuclear Power, Energy Security and CO2 Emission’, May 2012, http://www.stormsmith.n1/reports.html, accessed 20 January 2014. 9. How Can We Reduce Our Carbon Emissions? January 2009 was a tipping point for the cost of solar panels and for the solar revolution. This can most clearly be seen on the Solarbuzz site [1] in a diagram which had two lines tracking the retail price of a PV panel in Europe and the US. Sadly Solarbuzz stopped updating this figure in early 2012.


pages: 148 words: 45,249

Losing Earth: A Recent History by Nathaniel Rich

Dissolution of the Soviet Union, energy security, ice-free Arctic, Intergovernmental Panel on Climate Change (IPCC), James Watt: steam engine, mass immigration, Mikhail Gorbachev, oil shale / tar sands, planetary scale, Ronald Reagan, spinning jenny, the scientific method

But Congress, as Shaw had anticipated, seemed ready to act a lot sooner than that. On April 3, 1980, Senator Paul Tsongas, a Massachusetts Democrat, held the first congressional hearing on carbon dioxide buildup in the atmosphere. Gordon MacDonald testified that the United States should “take the initiative” and develop, through the United Nations, a way to coordinate every nation’s energy policies to address the problem. That June, President Carter signed the Energy Security Act of 1980, which directed the National Academy of Sciences to start a multiyear, comprehensive study, to be detailed in a report called Changing Climate, that would analyze the social and economic consequences of climate change. Most urgently, the National Commission on Air Quality, at the request of Congress, invited two dozen experts, including Henry Shaw himself, to a meeting in Florida to develop climate legislation.

“Don’t rely on the scientists. It’s not their job.” What could Congress do? Pomerance had come with an action plan, which he entered into the record: prepare for the climatic changes that were inevitable; fund more research; make conservation the highest consideration in all energy policy; and abolish the federal synthetic-fuels initiative. These measures would have the added benefits of reducing acid rain, increasing energy security, promoting public health, and saving money. “This issue is so big,” said Pomerance, “yet the attitude that is being taken is so relaxed. I mean, it strikes one as a bit incredible.” He took a breath before concluding. “The major missing element in all this is leadership,” he said. “It needs to come from the political community.” Those remaining in the hearing room turned to the congressman from Tennessee, who, in the previous hearing, had spoken of the challenge posed by the warming problem to the political will of civilization.


pages: 520 words: 129,887

Power Hungry: The Myths of "Green" Energy and the Real Fuels of the Future by Robert Bryce

addicted to oil, Bernie Madoff, carbon footprint, Cesare Marchetti: Marchetti’s constant, cleantech, collateralized debt obligation, corporate raider, correlation does not imply causation, Credit Default Swap, credit default swaps / collateralized debt obligations, decarbonisation, Deng Xiaoping, en.wikipedia.org, energy security, energy transition, flex fuel, greed is good, Hernando de Soto, hydraulic fracturing, hydrogen economy, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, James Watt: steam engine, Menlo Park, new economy, offshore financial centre, oil shale / tar sands, oil shock, peak oil, Ponzi scheme, purchasing power parity, RAND corporation, Ronald Reagan, Silicon Valley, smart grid, Stewart Brand, Thomas L Friedman, uranium enrichment, Whole Earth Catalog, WikiLeaks

In the next chapter, I will walk you through the physics and the terminology so that you can see why America’s discussions about “energy” are so misguided. Power is what we want. And lots of it. CHAPTER 3 Watt’s the Big Deal? (Power Tripping 102) ENERGY GETS THE HEADLINES and the attention. It’s the buzzword that pundits and politicos count on to pack a punch. Thus, we’ve been barraged by the ever-present “energy crisis” as well as other combinations: energy security, energy scarcity, energy management, energy policy, and dozens more. In the consumer world, we have energy bars, energy drinks, and, for consumer electronics, Energy Star. My antique copy of the Shorter Oxford English Dictionary (printed in 1936) contains half a dozen definitions for “energy.” Meanwhile, its definitions for “power” cover nearly half a page. The word “power” now gets used in numerous contexts—political power, electrical power, brain power, black power, Chicano power, star power, flower power, power trip, power walking, power lunch, and computing power, to name just a few.

For instance, if a utility has reliable data showing that it is providing enough voltage to its most-distant customers on a given section of the grid, it can reduce the voltage on its generators and thereby reap energy savings of as much as 4 percent.23 In July 2009, the consulting firm McKinsey & Company released a report that predicted that if the United States adopted aggressive efficiency policies it could reduce primary energy consumption by about 20 percent when compared to a “business as usual” scenario.24 The consulting firm determined that there are big gains to be had from efficiency upgrades in the residential, commercial, and industrial sectors. The report concludes that, “in the nation’s pursuit of energy affordability, climate change mitigation, and energy security, energy efficiency stands out as perhaps the single most promising resource.”25 While that may be true, the McKinsey report contains an enormous caveat, a warning that efficiency is not a panacea, not easily funded, and not easily measured or verified:By their nature, energy efficiency measures typically require a substantial upfront investment in exchange for savings that accrue over the lifetime of the deployed measures.

In Germany and Denmark, opposition to CCS projects has helped stop plans by two major electricity producers to bury captured carbon dioxide in saline aquifers deep below the surface of the Earth.59 Despite the problems, the coal industry continues to perpetuate the myth that CCS is viable. In September 2009, Vic Svec, a senior vice president at St. Louis–based Peabody Energy, the world’s largest private-sector coal company, told the New York Times that “coal with carbon capture and storage is the low cost, low carbon solution and has fantastic implications for the nation’s energy security.”60 The myth that the United States can (or will) substantially cut its carbon dioxide emissions is closely related to the belief that placing a tax on carbon will ignite a revolution in alternative-energy technologies. And that belief leads to the next myth-busting opportunity: Any scheme to tax carbon is doomed to failure. The better strategy: taxing neurotoxins. CHAPTER 16 Taxing Carbon Dioxide Will Work FORGET IT.


pages: 497 words: 143,175

Pivotal Decade: How the United States Traded Factories for Finance in the Seventies by Judith Stein

"Robert Solow", 1960s counterculture, activist lawyer, affirmative action, airline deregulation, anti-communist, Ayatollah Khomeini, barriers to entry, Berlin Wall, blue-collar work, Bretton Woods, business cycle, capital controls, centre right, collective bargaining, Credit Default Swap, crony capitalism, David Ricardo: comparative advantage, deindustrialization, desegregation, energy security, Fall of the Berlin Wall, falling living standards, feminist movement, financial deregulation, floating exchange rates, full employment, Gunnar Myrdal, income inequality, income per capita, intermodal, invisible hand, knowledge worker, laissez-faire capitalism, liberal capitalism, Long Term Capital Management, manufacturing employment, market bubble, Martin Wolf, new economy, oil shale / tar sands, oil shock, open economy, Paul Samuelson, payday loans, post-industrial society, post-oil, price mechanism, price stability, Ralph Nader, RAND corporation, reserve currency, Robert Gordon, Ronald Reagan, Simon Kuznets, strikebreaker, trade liberalization, union organizing, urban planning, urban renewal, War on Poverty, Washington Consensus, working poor, Yom Kippur War

Not only did the energy story take a backseat to the political story, which was a lot more appealing and comprehensible to reporters, but the public could wonder about the soundness of an energy plan which was put together by men who were then fired.40 Nevertheless, the Congress embraced the energy program, approving the Energy Security Corporation in June 1980. Containing something for everyone—incentives for oil shale, alcohol fuels, geothermal energy, solar, etc.—the corporation would guarantee loans, support prices, buy fuel, and even own production facilities. Funded up to $88 billion by a windfall profits tax, it seemed both self-financing and guaranteed to provide an elusive energy security. By 1985, the United States was 25 percent more energy efficient and 32 percent more oil efficient than it had been in 1973. Although the promise of synthetic fuels was not realized, increased efficiency, new supplies from Alaska, the North Sea, and the Soviet Union, as well as a recession in the early 1980S, produced an oil glut by the mid-1980s.41 None of this helped Jimmy Carter in 1979.

Carter’s six-point action plan, offered in the final third of his speech, promised to limit oil imports to 1977 levels, 8.7 million barrels, which he could do alone on the basis of the 1975 energy legislation. But the long-term goal was to cut American oil imports in half, to 4.5 million barrels a day by 1990. Congress was already considering legislation supporting alternative energy technologies. Now Carter asked Congress to create an Energy Security Corporation to replace 2.5 million barrels of imported oil through the development of alternative energy sources. The funds would come from the windfall profits tax. Most of the estimated $17-billion revenue from the windfall profits tax of 1979 would be invested by the new energy corporation. The 1977 plan had tried to force energy conservation through taxation and tax incentives. The proposed windfall tax of 1977 would have returned all of the money to consumers to restore their purchasing power.

-Soviet Dodd, Christopher Dole, Robert Douglas, Paul Dowd, Douglas Drudge, Matt Dukakis, Michael Dunlop, John Du Pont Durbin, Richard Durkin, John Eagleton, Thomas Eckes, Alfred Economic Opportunity Act Economic Planning Act Economic Policy Board Economic Revitalization Board Eisenhower, Dwight D. Eisner, Robert Eizenstat, Stuart Emergency Committee for American Trade (ECAT) Emergency Petroleum Allocation Act Emminger, Otmar Energy Independence Authority Act Energy Policy and Conservation Act Energy Security Corporation environmental movement Equal Rights Amendment Ervin, Sam European Community (EC) European Economic Community (EEC) European Payments Union exchange rates, international Export-Import Bank Fahd, of Saudi Arabia Faisal, king of Saudi Arabia Falk, Richard Fallows, James families, U.S.: legislation supporting relative wealth of Family Assistance Plan federal budget, U.S.


pages: 287 words: 95,152

The Dawn of Eurasia: On the Trail of the New World Order by Bruno Macaes

active measures, Berlin Wall, British Empire, computer vision, Deng Xiaoping, different worldview, digital map, Donald Trump, energy security, European colonialism, eurozone crisis, failed state, Francis Fukuyama: the end of history, global value chain, illegal immigration, intermodal, iterative process, land reform, liberal world order, Malacca Straits, mass immigration, megacity, open borders, Parag Khanna, savings glut, scientific worldview, Silicon Valley, South China Sea, speech recognition, trade liberalization, trade route, Transnistria, young professional, zero-sum game, éminence grise

Now it is too late for that, but all these troubles are revealing of a genuine reaction to contemporary challenges. Russian doubts and hesitations – its excess of alternatives – anticipate the new Eurasian age of competitive integration between different political models, and thus Russia may yet prove especially suited for it. Think of all the important and still undecided international questions of the last ten years. Energy security. Islamic radicalism. Ukraine. The future of Turkey and its position in the global system of alliances. The refugee crisis. They all point to the borderlands dividing Europe and Asia and are a direct result of flows – of people, goods, energy and knowledge – made possible by the gradual decline or collapse of the barriers keeping the two continents apart. Moreover, these new flows across the borderlands take place in the absence of principles of political order encompassing the whole supercontinent.

One Chinese state-owned company, Poly Group, was at the time finalizing plans to invest in a new deep water port near Arkhangelsk, the main seaport of medieval and early modern Russia, before the country gained access to the warmer waters of the Baltic. For the time being, of course, the great ocean linking the Eurasian supercontinent is the Indian. Many of the most important questions of our time will be decided in this long arc of heavily populated coastlines and busy shipping lanes: the relation between Islam and its neighbours in Europe and Asia; the growth of global trade and the struggle for energy security; the competition between India and China for the top place as the great economic success story of the century. In the west, the Suez Canal has traditionally been seen as the sea gate to Europe. In the east the Strait of Malacca can open or close the route to China and Japan. Even as it quickly becomes the most important body of water in the world, the Indian Ocean is increasingly the focus of competition between different actors, none of which can play a hegemonic role.

Likewise, if the next few decades witness a naval conflict between China and the United States that conflict will more likely be centred in the Indian Ocean than the Pacific, thanks to its greater strategic importance, and in that case India and the Indian navy will be a decisive factor. As opposed to the Atlantic or the Pacific, which lie from north to south like great open highways, the Indian Ocean is distinguished by a land rim on three sides creating numerous chokepoints, critical for international trade and energy security. Indian maritime doctrine recognizes that these chokepoints are sources of potential disruption, but also levers of control. To the east the Straits of Malacca, Sunda and Lombok create a natural barrier against Chinese sea power. To the west the busiest sea lane passes through the Strait of Hormuz, granting access to the Persian Gulf and its littoral, the source of a majority of Indian oil and gas supplies and home to an estimated 7 million expatriate Indians.


pages: 1,445 words: 469,426

The Prize: The Epic Quest for Oil, Money & Power by Daniel Yergin

anti-communist, Ayatollah Khomeini, bank run, Berlin Wall, British Empire, colonial exploitation, Columbine, continuation of politics by other means, cuban missile crisis, do-ocracy, energy security, European colonialism, Exxon Valdez, financial independence, fudge factor, informal economy, joint-stock company, land reform, liberal capitalism, megacity, Mikhail Gorbachev, Monroe Doctrine, new economy, North Sea oil, oil rush, oil shale / tar sands, oil shock, old-boy network, postnationalism / post nation state, price stability, RAND corporation, rent-seeking, Ronald Reagan, shareholder value, Thomas Malthus, Yom Kippur War

Yet the 1990s began not with another environmental drama, but rather with a struggle over the oil resources of the Persian Gulf, on which the world was again becoming heavily dependent. The Gulf Crisis thrust energy security back onto the political agenda, spurring governments to focus anew on ensuring supplies. It will serve to stimulate oil exploration and development around the world. In the words of a thoughtful observer, Joseph Stanislaw, "The rules of the race between demand growth and production capacity in the 1990s have been changed by the Gulf Crisis. Now secure capacity will count for a lot more." The crisis will rekindle efforts to promote energy development within the industrial countries. Much of the industrial world will find itself caught up in the competition of two great themes—energy and security, and energy and the environment. A far-reaching clash between anxieties about energy security and economic well-being on the one side, and fears about the environment on the other, seems all but inevitable.

The global environmental agendas of the industrial world will be measured against the magnitude of that growth. In the meantime, the stage has been set for one of the great and intractable clashes of the 1990s between, on the one hand, the powerful and increasing support for greater environmental protection and, on the other, a commitment to economic growth and the benefits of Hydrocarbon Society, and apprehensions about energy security. These, then, are the three themes that animate the story that unfolds in these pages. The canvas is global. The story is a chronicle of epic events that have touched all our lives. It concerns itself both with the powerful, impersonal forces of economics and technology and with the strategies and cunning of businessmen and politicians. Populating its pages are the tycoons and entrepreneurs of the industry—Rockefeller, of course, but also Henri Deterding, Calouste Gulbenkian, J.

But now the balance shifted; in 1948 imports of crude oil and products together exceeded exports for the first time. No longer could the United States continue its historical role as supplier to the rest of the world. Now it was dependent on other countries for that marginal barrel, and an ominous new phrase was being heard more often in the American vocabulary—"foreign oil." The Great Oil Deals: Aramco and the "Arabian Risk" That shift added a new dimension to the vexing question of energy security. The lessons of World War II, the growing economic significance of oil, and the magnitude of Middle Eastern resources all served, in the context of the developing Cold War with the Soviet Union, to define the preservation of access to that oil as a prime element in American and British—and Western European-security. Oil provided the point at which foreign policy, international economic considerations, national security, and corporate interests would all converge.


pages: 391 words: 102,301

Zero-Sum Future: American Power in an Age of Anxiety by Gideon Rachman

Asian financial crisis, bank run, battle of ideas, Berlin Wall, Big bang: deregulation of the City of London, Bonfire of the Vanities, borderless world, Bretton Woods, BRICs, capital controls, centre right, clean water, collapse of Lehman Brothers, colonial rule, currency manipulation / currency intervention, deindustrialization, Deng Xiaoping, Doha Development Round, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Francis Fukuyama: the end of history, full employment, global reserve currency, greed is good, Hernando de Soto, illegal immigration, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, Live Aid, market fundamentalism, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, moral hazard, mutually assured destruction, Naomi Klein, Nelson Mandela, offshore financial centre, open borders, open economy, Peace of Westphalia, peak oil, pension reform, plutocrats, Plutocrats, popular capitalism, price stability, RAND corporation, reserve currency, rising living standards, road to serfdom, Ronald Reagan, shareholder value, Sinatra Doctrine, sovereign wealth fund, special economic zone, Steve Jobs, Stewart Brand, The Chicago School, The Great Moderation, The Myth of the Rational Market, Thomas Malthus, trickle-down economics, Washington Consensus, Winter of Discontent, zero-sum game

The motivations for America’s invasion of Iraq remain controversial, but at least one well-informed observer, Alan Greenspan, believed that the Iraq War was “largely about oil.”7 Even if that is a false charge, no American government would deny that the Persian Gulf is an area of crucial strategic importance, protected by a huge deployment of U.S. military power. And in this case, “strategic importance” is essentially shorthand for the fact that the Gulf states are home to two-thirds of the world’s known oil reserves. The biggest foreign policy dilemma of the European Union also revolves around energy and the Union’s dangerous reliance on Russian gas. It is not just “energy security” that is exercising the world’s political leaders. “Food security” is also back on the agenda. The world’s population is rising, the emerging middle classes of Asia are eating better, and that is forcing up the price of food. In 2007, the year before the financial crisis hit, the world price of basic foodstuffs rose by 50 percent.8 Several countries were shaken by riots over rising food prices, including Mexico, Indonesia, and China.

When President Obama attempted to stage a last-minute meeting at the Copenhagen summit with the Indians, he was told that the Indian prime minister had already flown home—only to discover that Manmohan Singh was, in fact, quietly meeting China’s prime minister, Wen Jiabao.19 On nuclear proliferation, the need for binding UN sanctions on Iran meant that the U.S. government felt that it was crucial to cultivate cooperation with the Russians and the Chinese. When it came to energy security, there is no getting around the fact that America’s biggest suppliers of oil are authoritarian states, including Venezuela. Global economic imbalances could not be tackled cooperatively without close coordination with China. One of the biggest divisions on economic management was between countries that were amassing large current-account surpluses and others that were running big deficits—but this too did not divide the world neatly into democracies and autocracies.

I was in London when Tony Blair won his first electoral victory in May 1997, swept along by a campaign anthem that seemed to capture the spirit of the age: “Things can only get better.” It doesn’t feel that way now. My friend Charles Grant, the head of one of Britain’s leading think-tanks, recalls that when he launched his Centre for European Reform in 1995, “the big issues were whether Britain should join the euro and how fast Poland should join the European Union. … Most of the problems that worry us now—climate change, energy security, how to handle a more assertive Russia, the rise of China and terrorism—were scarcely on the agenda then.”1 In Washington, my contemporary Andrew Sullivan seems to feel the same way: “It feels like the late 1970s,” he wrote at the end of 2009, “but with no cheerful Ronald Reagan waiting in the wings. … I’ve never experienced such widespread gloom in the 25 years I’ve lived here.”2 For some Americans the Age of Optimism ended on 9/11.


pages: 859 words: 204,092

When China Rules the World: The End of the Western World and the Rise of the Middle Kingdom by Martin Jacques

Admiral Zheng, Asian financial crisis, Berlin Wall, Bob Geldof, Bretton Woods, BRICs, British Empire, credit crunch, Dava Sobel, deindustrialization, Deng Xiaoping, deskilling, discovery of the americas, Doha Development Round, energy security, European colonialism, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global reserve currency, global supply chain, illegal immigration, income per capita, invention of gunpowder, James Watt: steam engine, joint-stock company, Kenneth Rogoff, land reform, land tenure, lateral thinking, Malacca Straits, Martin Wolf, Naomi Klein, Nelson Mandela, new economy, New Urbanism, one-China policy, open economy, Pearl River Delta, pension reform, price stability, purchasing power parity, reserve currency, rising living standards, Ronald Reagan, Scramble for Africa, Silicon Valley, South China Sea, sovereign wealth fund, special drawing rights, special economic zone, spinning jenny, Spread Networks laid a new fibre optics cable between New York and Chicago, the scientific method, Thomas L Friedman, trade liberalization, urban planning, Washington Consensus, Westphalian system, Xiaogang Anhui farmers, zero-sum game

The environmental impact of energy use in China is particularly adverse because its dependence on coal - of a particularly dirty kind - is unusually high (60 per cent compared with 23 per cent in the US and 5 per cent in France) and carbon emissions from coal are proportionately much greater than from oil and gas.79 Although the Chinese leadership has resisted the idea that the country should be subject to internationally agreed emission targets, it has accepted the scientific argument concerning global warming and, in both speeches and the growing volume of new environmental regulations, is displaying a heightened awareness of the problem.80 In fact on paper China already has some of the most advanced laws in the world on renewable energy, clean production, environmental impact assessment and pollution control, though these still remain widely ignored in practice.81 The government continues to resist the idea that environmental considerations should detract from the priority of rapid economic growth, but there is, nonetheless, widespread recognition of their urgency at the highest levels of the Chinese leadership.82 The need for China to embrace a green development strategy, rather than relying on the old intensive model, has been powerfully argued by the influential Chinese economist Hu Angang.83 Figure 15. CO2 emissions compared. Figure 16. Growing concern over environmental problems. China’s position on climate change is evolving rapidly. The two targets it has adopted as part of its 2007 energy security strategy will have a significant impact on reducing the growth in emissions - namely, decreasing the energy intensity of the Chinese economy by 20 per cent by 2010 and increasing the use of renewables from 5 per cent to 20 per cent of energy production by 2020. It is already the world’s largest user of alternative energies, including wind power.84 It is making huge investments in a wide range of clean-technology innovations, especially in wind, solar and hydrogen.

., Power Shift: China and Asia’s New Dynamics (Berkeley: University of California Press, 2005) Yu Yongding, ‘China’s Macroeconomic Development, Exchange Rate Policy and Global Imbalances’, unpublished paper, Asahi Shimbun Symposium, October 2005 ——‘China’s Rise, Twin Surplus and the Change of China’s Development Strategy’, unpublished paper, Namura Tokyo Club Conference, Kyoto, 21 November 2005 ——‘China’s Structural Adjustment’, unpublished paper, Seoul Conference, 2005 ——‘The Interactions Between China and the World Economy’, unpublished paper, Nikkei Simbon Symposium, 5 April 2005 ——‘Opinions on Structure Reform and Exchange Rate Regimes Against the Backdrop of the Asian Financial Crisis’, unpublished paper, Japanese Ministry of Finance, 2000 Zakaria, Fareed, The Post-American World (London: Allen Lane, 2008) Zha Daojiong, ‘China’s Energy Security and Its International Relations’, China and Eurasia Forum Quarterly, 3:3 (2005) Zhang, Peter G., IMF and the Asian Financial Crisis (Singapore: World Scientific, 1998) Zhang Wei-Wei, ‘The Allure of the Chinese Model’, International Herald Tribune, 1 November 2006 Zhang Yunling, ed., Designing East Asian FTA: Rationale and Feasibility (Beijing: Social Sciences Academic Press, 2006) ——East Asian Regionalism and China (Beijing: World Affairs Press, 2005) ——and Tang Shiping, ‘China’s Regional Strategy’, in David Shambaugh, ed., Power Shift: China and Asia’s New Dynamics (Berkeley: University of California Press, 2005) Zhao Suisheng, ed., Chinese Foreign Policy: Pragmatism and Strategic Behavior (New York: M.

‘Year of the Three Big Headaches’, South China Morning Post, 4 January 2007. 60 . ‘China’s Priorities’, Financial Times, 9 March 2008. 61 . Yu Yongding, ‘China’s Structural Adjustment’, p. 5. 62 . Yu Yongding, ‘China’s Rise, Twin Surplus and the Change of China’s Development Strategy’, pp. 24-5. 63 . ‘What Will the World Gain from China in 20 Years?’ China Business Review, March/April 2003. 64 . Zha Daojiong, ‘China’s Energy Security and Its International Relations’, China and Eurasia Forum Quarterly, 3: 3 (November 2005), p. 44; and Yu Yongding, ‘The Interactions between China and the World Economy’, unpublished paper, Nikkei Simbon Symposium, 5 April 2005, p. 2. 65 . Lester R. Brown, ‘A New World Order’, Guardian, 25 January 2006. 66 . Javier Blas and Carola Hoyos, ‘IEA Predicts Oil Price to Rebound to $100’, Financial Times, 5 November 2008. 67 .


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The new village green: living light, living local, living large by Stephen Morris

back-to-the-land, Buckminster Fuller, clean water, cleantech, collective bargaining, Columbine, Community Supported Agriculture, computer age, cuban missile crisis, deindustrialization, discovery of penicillin, distributed generation, energy security, energy transition, Fellow of the Royal Society, financial independence, Firefox, index card, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Kevin Kelly, Louis Pasteur, Mahatma Gandhi, mass immigration, McMansion, Menlo Park, Negawatt, off grid, peak oil, rolodex, Silicon Valley, Steve Jobs, Stewart Brand, Whole Earth Catalog, Whole Earth Review

Distributed generation is where electricity is fed into power lines by small, scattered power plants such as wind mills, solar electric arrays on roof tops, small-scale hydro power, methane captured at farms or landfills, or fossil fuel powered turbines. The energy from these decentralized power sources tends to be used on-site by whoever is producing it, with the excess going out onto the grid for everyone else. Energy security analysts think distributed generation is preferable because reducing the demand on a single, central power plant makes widespread power interruptions less likely. Another way to increase power plant efficiency is by way of co-generation (cogen) also known as combined heat and power (CHP). Co-generation means pro44 chapter 2 : Silent Spring ducing useful energy for more than one use from the same fuel source.

When applied to a wide variety of renewable energy technologies, this strategy is known as Community Supported Energy (CSE) or sometimes Community Based Energy Development (C-BED). Regardless of the name you use, these projects are somewhat similar to Community Supported Agriculture. The main difference, however, is that instead of investing in potatoes, carrots, or cucumbers, with CSE, local residents invest in energy projects that provide greater energy security and a wide variety of other benefits. Many Advantages A cooperative or community owned energy project offers many advantages. It stimulates the local economy by creating new jobs and new business opportunities for the community while simultaneously expanding the tax base and generating new income for local residents. A locally owned energy project also generates support from the community by getting people directly involved in the project from the very beginning. 132 chapter 6 : Small is Beautiful Another advantage of community energy projects is that they can be owned cooperatively or collectively through a variety of legal mechanisms.

The main point is to identify the project as belonging to the community, which may avoid (or at least minimize) the usual conflicts between local residents and developers, whose large-scale, commercial proposals are often viewed as primarily benefiting absentee owners. Local ownership is the key ingredient that transforms what would otherwise be just another corporate energy project into an engine for local economic development and greater energy security. Community Supported Energy projects offer yet another advantage; they retain a greater amount of income in the local area and increase the economic benefits substantially over projects owned by out-of-area developers. This fact was highlighted by a study conducted by the National Renewable Energy Laboratory for the Governmental Accountability Office. NREL compared the effect of a large corporate wind farm owned out of area with a similar project owned locally.


pages: 267 words: 106,340

Europe old and new: transnationalism, belonging, xenophobia by Ray Taras

affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, British Empire, carbon footprint, centre right, collective bargaining, energy security, full employment, Gunnar Myrdal, illegal immigration, immigration reform, Kickstarter, low skilled workers, mass immigration, Mikhail Gorbachev, Naomi Klein, North Sea oil, open economy, postnationalism / post nation state, Potemkin village, Ronald Reagan, World Values Survey

To be sure, serious substantive disagreements affected Polish-German relations. In 2005, Germany and Russia decided to route a major gas pipeline under the Baltic Sea, therefore outside of Polish control. The Polish defense minister compared the decision to the secret agreement between Hitler and Stalin to carve up Poland in 1939. At subsequent EU summits, the Polish leadership emphasized the urgency of reaching a common energy security treaty for all EU states, which was made more difficult by Russia reaching special energy deals with Germany, Italy, France, and the Netherlands. A second issue in German-Polish relations concerned recognition of minorities in each country. Adam Krzemiński, longtime editor of a leading Polish weekly, Polityka, asked: “Must mass immigration involve giving minority status to the new ethnic groups in the EU member states?

In his turn, the Polish president warned that Poland could counter German lawsuits with its own multibillion-Euro claims for destruction suffered under the wartime Nazi occupation of Poland. He added how “obvious anti-Polish sentiment that is often racist”100—that term again—had increased in Germany. The 2006 Weimar summit eased frictions in Polish-German relations. The main topic between President Kaczyński, Chancellor Merkel, and President Chirac was the energy security of Europe. Kaczyński argued that the fact that this subject was seen not simply as an economic but also a political matter was a success for Poland. The three leaders expressed hope that negotiations with Russia on energy issues and, more broadly, on a new EURussia partnership and cooperation agreement, would begin soon. This represented a reversal of Poland’s position at the EU’s 2006 Helsinki summit, when it had vetoed the start of the partnership negotiations because of Russia’s embargo on Polish meat and vegetable products.

See European Court of Justice economy: budget deficits and, 50–51; during Cold War, 34–35; democracy and, 35–36; eastern Europe, 51, 159; of Poland, 40, 51, 52, 108; of Spain, 40 Eco, Umberto, 58, 164 ECRI. See European Commission against Racism and Intolerance ECSC. See European Coal and Steel Community ECU. See European Currency Unit EEC. See European Economic Community Elementary Particles (Houellebecq), 216, 218–19 11-M, 152 Élysée Treaty, 21 . The Emigrants (Mrozek), 192–93 emigration, 192–93, 194 ENAR. See European Network Against Racism energy security, 109–10, 111 Englishness, 157 ENP. See European Neighborhood Policy entitativity, 59 Equalities Review report, 158–59 ESM. See European Social Model Estonia: conservative government in, 105; economy of, 51; minority discrimination in, 126 ethnic cleansing, 4 ethnocentric norms, 119 EU. See European Union EU commandments, 4 EU constitution: drafting of, 44, 45–46; French referendum (2005), 2; religion in, 69; resistance to, 45, 49.


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What's Next?: Unconventional Wisdom on the Future of the World Economy by David Hale, Lyric Hughes Hale

affirmative action, Asian financial crisis, asset-backed security, bank run, banking crisis, Basel III, Berlin Wall, Black Swan, Bretton Woods, business cycle, capital controls, Cass Sunstein, central bank independence, cognitive bias, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, Daniel Kahneman / Amos Tversky, debt deflation, declining real wages, deindustrialization, diversification, energy security, Erik Brynjolfsson, Fall of the Berlin Wall, financial innovation, floating exchange rates, full employment, Gini coefficient, global reserve currency, global village, high net worth, Home mortgage interest deduction, housing crisis, index fund, inflation targeting, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Just-in-time delivery, Kenneth Rogoff, Long Term Capital Management, Mahatma Gandhi, Martin Wolf, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, money market fund, money: store of value / unit of account / medium of exchange, mortgage tax deduction, Network effects, new economy, Nicholas Carr, oil shale / tar sands, oil shock, open economy, passive investing, payday loans, peak oil, Ponzi scheme, post-oil, price stability, private sector deleveraging, purchasing power parity, quantitative easing, race to the bottom, regulatory arbitrage, rent-seeking, reserve currency, Richard Thaler, risk/return, Robert Shiller, Robert Shiller, Ronald Reagan, sovereign wealth fund, special drawing rights, technology bubble, The Great Moderation, Thomas Kuhn: the structure of scientific revolutions, Tobin tax, too big to fail, total factor productivity, trade liberalization, Washington Consensus, Westphalian system, WikiLeaks, women in the workforce, yield curve

Climate Negotiations and the Move to a Lower-Carbon Energy Mix With peak oil concerns alleviated until at least 2020 (subject to the quadrupling of Iraqi oil production, and therefore to peace in the Iraqi Shiite region), the other long-term consideration for the global supply-demand balance is about the implications of the transition to a low-carbon energy economy. For a brief period, considerations of energy security, peak oil, and climate security converged to make the transition to a new energy mix appear inevitable. As we have seen when assessing peak oil realities, 2009 spelled the end of this convergence, depriving climate negotiators of the broad-based consensus that this convergence could have fostered. Oil producers, notably Saudi Arabia, are calling attention to the slightly schizophrenic US and European attitudes toward the oil industry.

Therefore, it is likely that with British and Dutch gas production continuing to decline, more gas will have to be procured from the global LNG market and/or from Russia and Algeria. LNG sources include Qatar and Trinidad as well as Libya, Egypt, Nigeria, and some newcomers. In addition, one interesting question will be whether the United States is ready to develop a large-scale LNG export capacity, which would be at odds with its subjective definition of energy security as “energy independence.” Russian gas is now very expensive compared to spot prices as a result of the oil-product indexation clauses in take-or-pay Russian contracts. European companies failed to import as much Russian gas as was called for under these contracts. It was all the more intriguing, therefore, to see the Paris-based European electric utility EDF join the South Stream consortium that was put in place by Gazprom and commit to large volumes of Russian gas imports.

From a practical political perspective these differences deepened with the electoral losses suffered by the Obama administration in the 2010 mid-term elections. The stance of the G-77 developing countries, which includes China, has not changed. They continue to state, with justification, that their key priority is economic development and poverty eradication. A key driver in developing countries is an effort to increase energy efficiency in light of likely future increases in real energy prices and concerns about energy security. For example, China’s announced aim to reduce the emissions intensity of GDP is largely motivated by a desire to increase the efficiency with which its economy uses energy. Of course, this action has the secondary benefit of reducing the growth in greenhouse gas emissions, but it falls far short of a policy that would lead to a reduction in emissions. Although under the Copenhagen Accord China has recognized the need to keep global warming to two degrees Celsius, the agreement is not binding and China’s obligation under it is only voluntary.


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Prosperity Without Growth: Foundations for the Economy of Tomorrow by Tim Jackson

"Robert Solow", bank run, banking crisis, banks create money, Basel III, basic income, bonus culture, Boris Johnson, business cycle, carbon footprint, Carmen Reinhart, Cass Sunstein, choice architecture, collapse of Lehman Brothers, creative destruction, credit crunch, Credit Default Swap, David Graeber, decarbonisation, dematerialisation, en.wikipedia.org, energy security, financial deregulation, Financial Instability Hypothesis, financial intermediation, full employment, Growth in a Time of Debt, Hans Rosling, Hyman Minsky, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, laissez-faire capitalism, liberal capitalism, Mahatma Gandhi, mass immigration, means of production, meta analysis, meta-analysis, moral hazard, mortgage debt, Naomi Klein, new economy, offshore financial centre, oil shale / tar sands, open economy, paradox of thrift, peak oil, peer-to-peer lending, Philip Mirowski, profit motive, purchasing power parity, quantitative easing, Richard Thaler, road to serfdom, Robert Gordon, Ronald Reagan, science of happiness, secular stagnation, short selling, Simon Kuznets, Skype, smart grid, sovereign wealth fund, Steve Jobs, The Chicago School, The Great Moderation, The Rise and Fall of American Growth, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, universal basic income, Works Progress Administration, World Values Survey, zero-sum game

id=PALLFNFINDEXQ,# (accessed 15 December 2015). 30 Data from the Economist Commodity Price index. 31 For a discussion see Rogoff (2015). 32 Meadows et al. (1972: 126). 33 The G20 group warned of the threat of rising oil prices to global economic stability as early as 2005. See www.independent.co.uk/news/business/news/g20-warns-of-oil-price-threat-to-global-economic-stability-5348403.html (accessed 30 March 2016). The long-term concern was widely acknowledged. See, for example, the IEA’s World Energy Outlook (IEA 2008) and the report of the Industry Taskforce on Peak Oil and Energy Security (ITPOES 2008). 34 Mohr et al. (2015: figure 5, for example). 35 Turner (2008, 2014). A second study (Pasqualino et al. 2015) puts the world on one of the Limits scenarios associated with enhanced technology; this scenario suggests that collapse will come from pollution rather than from resource depletion. 36 Ragnarsdottír and Sverdrup (2015), Sverdrup and Ragnarsdottír (2014). 37 Rockström et al. (2009); Steffen et al. (2015). 38 Stern (2007: xv).

Francis Darwin, reprinted 1958. New York: Dover. Davidson, Richard and Sharon Begley 2012. The Emotional Life of Your Brain: How Its Unique Patterns Affect the Way You Think, Feel, and Live – and How You Can Change Them. London: Penguin. Dawkins, Richard 1976. The Selfish Gene. Oxford and New York: Oxford University Press. DB 2008. Economic Stimulus: The Case for ‘Green’ Infrastructure, Energy Security and ‘Green’ Jobs. New York: Deutsche Bank. de Botton, Alain 2004. Status Anxiety. Oxford: Oxford University Press. de Groot, Rudolf, Luke Brander, Sander van der Ploega, Robert Costanza, Florence Bernardd, Leon Braate, et al. 2012. ‘Global estimates of the value of ecosystems and their services in monetary units’. Ecosystem Services 1(1): 50–61. de Mandeville, Bernard 1989. The Fable of the Bees.

‘Development, freedom and rising happiness: a global perspective (1981–2007)’. Perspectives on Psychological Science 3(4): 264–285. IPCC 2014. Climate Change 2014: Synthesis Report. Contributions of Working Groups I, II and III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change. Geneva: IPCC. ITPOES 2008. The Oil Crunch: Securing the UK’s Energy Future. First Report of the Industry Taskforce on Peak Oil and Energy Security. London: ITPOES. Jackson, Andrew and Ben Dyson 2013. Modernising Money: Why Our Monetary System is Broken and How it Can be Fixed. London: Positive Money. Jackson, Tim 2016. ‘Emission pathways in historical perspective: an analysis of the challenge of meeting the 1.5°C target’. PASSAGE working paper 16/01. Guildford: Centre for the Understanding of Sustainable Prosperity. Jackson, Tim 2015.


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Every Nation for Itself: Winners and Losers in a G-Zero World by Ian Bremmer

airport security, banking crisis, barriers to entry, Berlin Wall, blood diamonds, Bretton Woods, BRICs, capital controls, clean water, creative destruction, Deng Xiaoping, Doha Development Round, energy security, European colonialism, failed state, global rebalancing, global supply chain, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), Julian Assange, Kickstarter, Martin Wolf, mass immigration, Mikhail Gorbachev, mutually assured destruction, Nelson Mandela, Nixon shock, nuclear winter, Parag Khanna, purchasing power parity, reserve currency, Ronald Reagan, smart grid, South China Sea, sovereign wealth fund, special economic zone, Stuxnet, trade route, uranium enrichment, Washington Consensus, WikiLeaks, Yom Kippur War

In the dead of winter in 2009, Gazprom, Russia’s natural gas monopoly, cut supplies to Ukraine to build leverage in a dispute over pricing, and perhaps to remind Ukrainians that they continue to depend on their big brother to the east. Moscow would like Kiev to join a customs union that now includes Russia, Kazakhstan, and Belarus—a personal priority for Vladimir Putin—and has promised natural gas deliveries at substantially lower prices to sweeten the deal.28 Given the stakes for energy security, that’s an offer Ukraine must take seriously, because lower gas prices can help political officials avoid both the need to hit voters with new energy taxes and the public backlash that would follow. Ukraine would like to escape Russia’s gravitational pull and become a pivot state, preserving relations with Russia while building new ties with Europe. In fact, Kiev would like to sign a free trade agreement with the European Union, a deal that would create tremendous commercial opportunities for the country and might eventually help Ukraine join the EU.

They must prove it by allowing for local solutions to local problems. Learning from mistakes means accepting that deficits matter, that compromise is a virtue, and that even a colossus must live within its means. Adapting to changing circumstances means avoiding doctrinaire approaches to the country’s challenges. Emerging stronger from the G-Zero will require innovative approaches to issues such as energy security, the growth of cyberthreats, nuclear proliferation, terrorism, and climate change—and it will require Washington to maximize its strength by partnering with an ever-shifting constellation of potential allies on each of these individual tests. Most of all, Americans should have faith in their country’s core strengths. Lasting power comes from within. The primary goal of American policymakers should be to bolster the nation’s security by sharply reducing its debt burden—no reform that fails to trim the fat from America’s sacred cows can accomplish this goal.


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A Game as Old as Empire: The Secret World of Economic Hit Men and the Web of Global Corruption by Steven Hiatt; John Perkins

addicted to oil, airline deregulation, Andrei Shleifer, Asian financial crisis, Berlin Wall, big-box store, Bob Geldof, Bretton Woods, British Empire, capital controls, centre right, clean water, colonial rule, corporate governance, corporate personhood, deglobalization, deindustrialization, Doha Development Round, energy security, European colonialism, financial deregulation, financial independence, full employment, global village, high net worth, land reform, large denomination, liberal capitalism, Long Term Capital Management, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, moral hazard, Naomi Klein, new economy, North Sea oil, offshore financial centre, oil shock, Ponzi scheme, race to the bottom, reserve currency, Ronald Reagan, Scramble for Africa, statistical model, structural adjustment programs, too big to fail, trade liberalization, transatlantic slave trade, transfer pricing, union organizing, Washington Consensus, working-age population, Yom Kippur War

Agreeing with right-wing think tanks in Washington that African oil should be labeled an area of vital U.S. interest, Morrison also asserted that these dealings needed to be transparent and to promote development and human rights. A cynical observer might argue that this stance is clever: there have been so many decades of corrupt deals with little money going to the local population that the status quo cannot continue. If U.S. energy security can be guaranteed only by African oil, exploiting that oil can be guaranteed only if America can claim that Africans are benefiting from oil development. Transparency in oil deals then becomes a tool to make exploitation of African oil acceptable to the wider community. Just as Washington and European capitals were wielding these new tools of exploitation, however, here came China advocating the same old tools: the raw power of money, with little or no regard for human rights, let alone transparency.

Wälde, “The Current Status of International Petroleum Investment: Regulating, Licensing, Taxing and Contracting,” CEPMLP Journal 1, no. 5 (July 1995), published by the University of Dundee. 25. ITIC, “Petroleum and Iraq’s Future: Fiscal Options and Challenges,” Fall 2004, p. 10. 26. Dunia Chalabi (International Energy Agency), “Perspective for Investment in the Middle East/North Africa Region,” presentation to the OECD, Istanbul, February 11-12, 2004, p. 7. 27. Ian Rutledge, Addicted to Oil: America’s Relentless Drive for Energy Security (London: I. B. Tauris, 2005). 28. These figures are in real terms (2006 prices), undiscounted. The calculation is based on data from the Iraqi Ministry of Oil and industry sources, for the fields Halfaya, Nahr Umar, Majnoon, West Qurna, Gharaf, Nasiriya, Rafidain, Amara, Tuba, Ratawi, East Baghdad, and Ahdab. Cash flow models were constructed for these fields, applying PSA terms that are used in Russia, Libya, and Oman.

London: PLATFORM, 2005. Available at www.globalpolicy.org/security/oil/2005/crudedesigns.htm. Parenti, Christian. The Freedom: Shadows and Hallucinations in Occupied Iraq. New York: New Press, 2004. Phillips, Kevin. American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century. New York: Viking, 2006. Rutledge, Ian. Addicted to Oil: America’s Relentless Drive for Energy Security. London: I. B. Tauris, 2005. Simmons, Matthew. Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy. New York: John Wiley & Sons, 2005. Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Free Press, 1993. General Union of Oil Employees: www.basraoilunion.org. Iraq Occuaption Focus, www.iraqoccupationfocus.org.uk/. Hub for news and analysis of the occupation of Iraq; publishes a free e-newsletter.


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Why Your World Is About to Get a Whole Lot Smaller: Oil and the End of Globalization by Jeff Rubin

addicted to oil, air freight, banking crisis, big-box store, BRICs, business cycle, carbon footprint, collateralized debt obligation, collective bargaining, creative destruction, credit crunch, David Ricardo: comparative advantage, decarbonisation, energy security, food miles, hydrogen economy, illegal immigration, immigration reform, Intergovernmental Panel on Climate Change (IPCC), invisible hand, James Watt: steam engine, Just-in-time delivery, market clearing, megacity, North Sea oil, oil shale / tar sands, oil shock, peak oil, profit maximization, reserve currency, South Sea Bubble, the market place, The Wealth of Nations by Adam Smith, trade liberalization, zero-sum game

Like the change you desperately look for in the pockets of pants you haven’t worn for a while, a lot of the oil we refine and burn these days is stuff we wouldn’t even bother with if we still had access to yesterday’s oil fields. But we don’t have access to those fields any more. They have long been sucked dry by our parents’ cars. From the North Sea to Mexico and from Russia to Indonesia, oil wells are producing less oil than they used to. For a long time, the International Energy Agency (a body set up by the OECD to prevent supply disruptions and promote energy security) kept telling us the world’s wells were declining at 3.7 percent each year. Then, in late 2008, after a rigorous international study, they revised that figure to 6.7 percent. At the stroke of a pen, the global economy lost millions of barrels of oil. The situation is particularly dire in the world’s biggest oil market—the United States. Over the last three decades, US oil production has literally halved, from as much as 10 million barrels per day in the early 1970s down to 5 million today.

Potash producers in Saskatchewan were working overtime to try to keep up with the American market’s seemingly insatiable demand for fertilizer despite a quintupling in the price of a ton of the stuff in 2008. For those blessed by ethanol production, times have never been better. But for energy consumers in the United States as well as for American taxpayers, who are ultimately footing the bill for all those subsidies, the production of corn-based ethanol is a costly head fake whose attraction is all about local politics, not about national energy security, or, for that matter, even energy common sense. Surging food inflation and mounting budgetary costs are already beginning to undercut public support for ethanol’s ill-conceived subsidies. The sooner that public support collapses, the better. The only thing this renewable energy policy will fuel is inflation. LEARNING THE WRONG LESSONS A few decades later, it seems that the worst consequence of the oil shocks of the 1970s was not the panic or the lineups at the pumps, not the stagflation or the arrival of the Pinto.


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A Swamp Full of Dollars: Pipelines and Paramilitaries at Nigeria's Oil Frontier by Michael Peel

banking crisis, British Empire, colonial rule, energy security, informal economy, Kickstarter, megacity, offshore financial centre, plutocrats, Plutocrats, race to the bottom, Scramble for Africa, trade route, UNCLOS, wage slave

It is, after all, the tried and trusted method to get rich off the country’s main resource. As the world oil price climbed steeply between 2004 and 2008, so the battles over Nigeria’s crude became more violent, the Niger Delta turning ever closer to a Mad Max world of roving bandits. Yet, paradoxically – and worryingly – Nigeria and the broader West African region were at the same time assuming an increasingly important role in the energy security policies of Washington and Western allies such as Britain, who are keen for a bulwark against troubles in the Arabian Gulf. Nigeria has historically sent about half its oil production – between 2m and 2.6m barrels of oil daily – to the USA, where it has accounted for about 10 per cent of total imports. The US National Intelligence Council has estimated that African countries, led by Nigeria and Angola, could supply a quarter of its total oil imports by 2015.

Those who raised questions about the Obasanjo administration’s agenda risked being tagged cynics by both London and Abuja, incapable of either seeing change or overcoming their prejudices. But those who claim to be optimists can be cynical, too, particularly when – like the two governments – they share an interest in projecting an impression of rapid improvement in the state that has styled itself the ‘Heart of Africa’ and is key to Western energy security. I always found it revealing that – for all the achievements and bravery of a handful of Nigerian officials – few people outside government seemed to think reform was going far enough or fast enough to pull society from its oily mire. Most strikingly of all, by the time the president left office in 2007, events in the Niger Delta oil heartlands were making the international case for a Nigerian renaissance look at best foolish and at worst disingenuous. 178 A SWAMP FULL OF DOLLARS STARK ILLITERATES AND JUNKIES 179 9 NOT HOSTAGES BUT JOURNALISTS I am sitting sweating in a car pulled up outside one of Port Harcourt’s waterside slums, nervous and impatient for the day to begin.


pages: 327 words: 90,542

The Age of Stagnation: Why Perpetual Growth Is Unattainable and the Global Economy Is in Peril by Satyajit Das

"Robert Solow", 9 dash line, accounting loophole / creative accounting, additive manufacturing, Airbnb, Albert Einstein, Alfred Russel Wallace, Anton Chekhov, Asian financial crisis, banking crisis, Berlin Wall, bitcoin, Bretton Woods, BRICs, British Empire, business cycle, business process, business process outsourcing, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Clayton Christensen, cloud computing, collaborative economy, colonial exploitation, computer age, creative destruction, cryptocurrency, currency manipulation / currency intervention, David Ricardo: comparative advantage, declining real wages, Deng Xiaoping, deskilling, disintermediation, disruptive innovation, Downton Abbey, Emanuel Derman, energy security, energy transition, eurozone crisis, financial innovation, financial repression, forward guidance, Francis Fukuyama: the end of history, full employment, gig economy, Gini coefficient, global reserve currency, global supply chain, Goldman Sachs: Vampire Squid, happiness index / gross national happiness, Honoré de Balzac, hydraulic fracturing, Hyman Minsky, illegal immigration, income inequality, income per capita, indoor plumbing, informal economy, Innovator's Dilemma, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, John Maynard Keynes: technological unemployment, Kenneth Rogoff, knowledge economy, knowledge worker, light touch regulation, liquidity trap, Long Term Capital Management, low skilled workers, Lyft, Mahatma Gandhi, margin call, market design, Marshall McLuhan, Martin Wolf, Mikhail Gorbachev, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, oil shale / tar sands, oil shock, old age dependency ratio, open economy, passive income, peak oil, peer-to-peer lending, pension reform, plutocrats, Plutocrats, Ponzi scheme, Potemkin village, precariat, price stability, profit maximization, pushing on a string, quantitative easing, race to the bottom, Ralph Nader, Rana Plaza, rent control, rent-seeking, reserve currency, ride hailing / ride sharing, rising living standards, risk/return, Robert Gordon, Ronald Reagan, Satyajit Das, savings glut, secular stagnation, seigniorage, sharing economy, Silicon Valley, Simon Kuznets, Slavoj Žižek, South China Sea, sovereign wealth fund, TaskRabbit, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the market place, the payments system, The Spirit Level, Thorstein Veblen, Tim Cook: Apple, too big to fail, total factor productivity, trade route, transaction costs, uber lyft, unpaid internship, Unsafe at Any Speed, Upton Sinclair, Washington Consensus, We are the 99%, WikiLeaks, Y2K, Yom Kippur War, zero-coupon bond, zero-sum game

The government resents external pressure on its economic policies, currency value, trading practices, political system, foreign policy, and human rights record. China sees diminishing gains from engagement with external parties other than on its own terms. There is also resentment towards developed nations for a perceived lack of respect in dealing with a great power. China has shifted its priorities to food and energy security, needed to sustain its development. For China, a reversal of a policy of international engagement represents a return to traditional economic self-reliance with a limited interest in trade. In 1793, the Chinese emperor told British envoy Lord Macartney that China did not value “ingenious articles” and “had not the slightest need of [England's] manufactures.”9 As Robert Hart, nineteenth-century British trade commissioner for China, wrote, “[The] Chinese have the best food in the world, rice; the best drink, tea; and the best clothing, cotton, silk, fur.

Vaclav Smil, Energy Transitions: History, Requirements, Prospects, Praeger, 2010. Steven Solomon, Water: The Epic Struggle for Wealth, Power, and Civilisation, Harper Perennial, 2010. Nicholas Stern, The Economics of Climate Change: The Stern Review, Cambridge University Press, 2007. Alan Weisman, The World without Us, Picador, 2007. Daniel Yergin, The Prize: The Epic Quest for Oil, Money & Power, Touchstone Books, 1991. ——, The Quest: Energy, Security, and the Remaking of the Modern World, Penguin, 2011. Inequality and Trust Geoffrey Hosking, Trust: A History, Oxford University Press, 2014. Thomas Piketty, Capital in the Twenty-First Century, Belknap Press, 2014. Richard Wilkinson and Kate Pickett, The Spirit Level: Why Greater Equality Makes Societies Stronger, Bloomsbury Press, 2011. Satyajit Das is a globally respected former banker and consultant with over thirty-five years’ experience in financial markets.


pages: 304 words: 88,495

The Powerhouse: Inside the Invention of a Battery to Save the World by Steve Levine

colonial rule, Elon Musk, energy security, oil shale / tar sands, Ronald Reagan, Sand Hill Road, Silicon Valley, Silicon Valley startup, Steve Jobs, Yom Kippur War

These estimates excluded manufactured materials used to make the batteries, not to mention the market for automobiles themselves, which was enormous. Companies elsewhere in the world—in China, in Japan, in South Korea, for example—were gearing up to capture that business, to create jobs for their societies. That was one reason Argonne was on a mission to create a lithium-ion battery industry in the United States. Another was energy security. “So we import a lot of oil, a little over a billion dollars a day,” he told the silent room. “Some of that is from friends, some from enemies. So that’s not a secure position.” And the third component was environmental security—if the United States could move away from fossil fuel consumption, climate change would be less of a threat as well. “So in the big picture,” Chamberlain said, “I wanted to remind you of the mission we’re on.”

., 11–12 Frisch, Damon, 231, 260 Gallagher, Kevin, 100, 185, 207–10, 224, 233 and ARPA-E, 201, 204 and Battery Hub, 212–14, 228, 243–45, 252 and Envia, 201, 208, 213–14, 277, 279 and Nelson-Gallagher model, 212, 213–14, 243–44 and Obama visit, 268–71 and voltage fade, 158, 239, 285–86 Galvani, Luigi, 18 Gates, Bill, 195, 199 Geely, 6, 284 General Electric (GE), 8, 62 General Motors (GM), 71, 183, 188, 196, 284, 285 bankruptcy filing by, 114 and Chevy Spark, 214 and DC resistance, 230–31 and Envia, 110–17, 205, 206, 230–31, 255–59, 260–67, 272–75, 276–81, 286 and EV1, 184 GM Ventures, 109–16, 151, 205 and Volt, see Volt Goldwasser, Eugene, 127 Goodenough, John, 21, 22–26, 91, 113, 210, 269 and Battery Hub, 242–43 leadership style of, 25–26, 30, 101 and lithium-cobalt-oxide battery, 25, 27, 28–29, 31, 35, 38, 44, 45, 52, 58, 119, 152, 154 and Padhi, 37–39 and patents, 33, 36, 38–39, 66 and Thackeray, 30–32, 33, 38 Goodenough-Kanamori rules, 23 Greenberger, Jim, 130–31 Grove, Andrew, 75–76, 129 Gruen, Dieter, 10–11, 13–15, 209 Henriksen, Gary, 236–37 Herschel, William, 27 Higgs boson, 119 Hillebrand, Don, 182–85, 187–89, 228, 284, 286 Honda, 115, 116, 117, 206, 231, 257 Howard, Matt, 268–69 Howell, Dave, 107, 134–35, 160, 167, 210 Hu Jintao, 4 hybrid vehicles, 8, 20, 36, 76, 109, 177–78, 179, 184, 185, 257 Hyundai, 196 IBM, 186, 206 India, Union Carbide leak in, 36 Intel, 75–76, 121, 129 intercalation, use of term, 21 internal combustion engine, 19, 45, 109, 132, 154–55, 179, 181, 183 iPhone, 129, 187, 198, 250–51 Isaacs, Eric, 119, 269, 286 and Battery Hub, 135, 137–38, 216, 218–19, 220–21, 225–26, 243–44, 248, 250, 251, 253, 254 and En-Caesar, 135, 137 Iyer, Hari, 256, 258, 262–66, 274, 276, 277 Jae-kook Kim, 56, 57 Japan: battery production in, 35, 102–3, 136, 178, 192 competition in, 36, 75, 99, 129, 130, 177–78, 214, 280 consumer battery market in, 5, 7, 8, 9, 142 and electric vehicles, 184, 284 patents in, 39, 66, 98–99, 197 U.S. ideas moving to, 36, 187, 205 Jobs, Steve, 202 Johnson, Chris: and lithium-ion, 41, 43, 58, 153 and NMC, 41, 43, 58–59, 72, 153, 159, 236, 278 and patents, 46, 56–57, 72, 153 and Thackeray, 40–41, 42, 43, 46, 287 and voltage fade, 159, 227–28 Johnson, Lady Bird, 179 Johnson Controls, 68, 131, 149, 150 Joshua, Matthus, 266, 273, 276 Jun Lu, 99 Kang Eun Kyung, 100–101 Kapadia, Atul, 91 and Envia/Kumar, 86, 106–7, 114–17, 166, 202–6, 255, 257–58, 261, 262–67, 274, 276–77, 279, 280–81 and venture capital, 85–86, 106–7, 112, 117 Khosla, Vinod, 190–91 Kumar, Sujeet, 83–87, 88–90, 91, 192–98 and Argonne, 83–85, 86, 152 and ARPA-E, 193–98, 201–6, 207, 230, 233, 277 and Chamberlain, 86–87, 88, 115–17, 203–4 and Energy Department, 105, 165–66, 190, 193, 231–32 and Envia, 86, 107–8, 111, 114, 116–17, 162–66, 206, 238–41, 239, 255–59, 260–67, 272–75, 276–81, 286 and GM, 110–14, 165, 205, 230–31, 256–59, 260–67, 276, 278–80, 286 and NanoeXA, 94–95, 267, 280–81 and NMC, 83, 84, 94, 95, 111, 128, 152, 155, 165, 169, 170–71, 193–96, 231, 261, 277, 286 and venture capital, 84–87, 106, 116, 126, 205–6 and voltage fade, 155, 157, 163–64, 168–69, 233–34, 238–39 lattice, 44 Lauckner, Jon, 109–14, 205, 231, 280, 286 Lawrence Berkeley National Laboratory, 132–33, 135–36, 165, 166, 260 Lawroski, Stephen, 13 LG Chemical, 9, 70–72, 110, 113–14, 156, 257, 261, 267, 285 Lindbergh, Erik, 286 Littlewood, Peter, 118–20, 122, 243–44, 286 Madia, Bill, 218–22, 223–24, 226, 253–54 Majumdar, Arun, 195, 199, 200–201, 203–5, 279 Manhattan Project, 10, 11, 129, 143 Mansfield, Mike, 23 Markovic, Nenad, 243 Mathias, Mark, 216, 231 Matsushita, 197 microchips, 75, 186 Microsoft model, 118 MIT, Lincoln Laboratory, 23 mobile phones, 122, 186 Moore’s law, 186 Morse, Edward, 180 Musk, Elon, 232–33 NanoeXa, 83–84, 94–95, 267, 280–81 Naperville, 13 natural gas, 60 Nelson, Paul, 16–17, 210–13 Newman, John, 132, 134–35 Nippon Telegraph and Telephone (NTT), 37–38, 39 Nissan, 107, 115, 116, 158, 183, 202, 284 Leaf, 177, 179, 183, 186 Nitz, Larry, 266–67, 273 nuclear age, 10, 14, 20 Oak Ridge National Lab, 11, 14, 137, 228, 242–43, 260 Obama, Barack: Argonne visit of, 268–71 one-million-car goal, 5, 60 Obama administration, 135, 280 and battery competition, 70–71, 84, 107–8, 130, 187, 252, 253 and economic stimulus, 131, 203 and electric cars, 60, 106, 125, 145, 177, 178, 187, 261 and LG Chemical, 70–71, 113 oil: Arab embargo (1973), 21, 23, 28 demand for, 8, 60–61, 178 electricity as challenge to, 152 and energy security, 142–43, 284 prices of, 8, 35, 60, 178, 179, 180, 183, 189 public image of, 84, 146 shale gas and, 180, 190 Okada, Shigeto, 37–39 omnivorous engine, 188 OPEC (Organization of Petroleum Exporting Countries), 8, 23, 61, 183 Orbach, Ray, 242 Ovshinsky, Stan, 36 Oxford University, 24, 29–30, 32, 33, 36 Padhi, Akshaya, 37–39 Pak, Michael, 84, 94–95, 267 Panasonic, 9, 36, 197, 214, 232, 265 Park Sang-Jin, 102–3 Patel, Anish, 113 patent applications: for NMC, 45, 58–59, 66, 170, 197 race for, 39, 47 for spinel, 33, 38–39 patents: challenges to, 47 contributions described in, 57 enforcement of, 73 failure to patent, 127 government-funded, 68 infringement of, 39, 71 international, 65–69, 98, 153, 197 inventors’ names on, 156 lawsuits for, 39, 197 lead time for, 57–58 and licensing, 36, 68–69, 95 protection of, 78 provisional, 46, 55 and royalties, 36, 98, 149–51 signing away rights to, 36, 77 stealing ideas for, 38, 55 Pentagon, 127 Persson, Kristin, 243 Peters, Mark, 218, 220, 228, 251, 253 Planté, Gaston, 19 plutonium, creation of, 11 Popular Science, 19–20 Preto, Sandy, 16 Prius, 36, 153, 158, 177–78, 179, 185, 186, 188–89 Putin, Vladimir, 8, 284 Ralston Purina, 36 RCA, 62 Reagan, Ronald, 35, 122, 129 Redpoint Ventures, 112 Rickover, Hyman, 14 Riley, Bart, 154–58, 163 RockPort Capital Partners, 84–85 Roosevelt, Franklin D., 11 Russia, oil production in, 61, 183 Sadoway, Donald, 199 SAGE (computer memory), 23 Samsung, 9, 155, 158, 202, 205, 213, 231, 261, 265, 267, 284 Samsung SDI, 102–3, 104 Sattelberger, Al, 5 Schroeder, Dave, 62, 63–65 Seaborg, Glenn, 10 Seegopaul, Purnesh, 202–3, 263, 266, 274–75 Sematech (Semiconductor Manufacturing Technology), 129–31, 133, 282 Sharp, 214 Shin-Etsu, 265, 266, 281 silicon chips, 75–76 Silicon Valley, 129, 150, 201 Asian immigrants in, 90–94 Sinkula, Mike, 83–87, 88, 95, 110, 114, 116–17, 202, 263, 280 Slater, Mike, 207, 209 smart phones, 5, 167, 186, 187 Smil, Vaclav, 199 Solyndra, 203, 240 Sony, 35, 41, 118, 152, 197, 198, 214 South Africa, 27–28, 41–42, 43, 47 South Korea: battery competition in, 99, 103, 114, 136, 214, 280, 284 consumer battery market in, 5, 8, 9, 37, 142 patents filed in, 66, 197 trade alliance with, 70–72 spec sheets, 115–16 spinel, 28–29, 30–32, 33, 38–39, 41–42, 45–46, 110, 113, 152, 153 Spitfire (chip), 85 Srinivasan, Venkat, 91, 120, 149, 220 Straubel, JB, 232 Sun-Ho Kang, 100–104, 155, 157–59, 213, 231 Sun Microsystems, 190 technology: and global financial crises, 7–8 and Moore’s law, 186 usual path of, 185–86, 189, 192, 201 Teller, Edward, 23 Temping Yu, 99 Tennessee Valley Authority (TVA), 11 Tesla Motors, 232–33, 284 Thackeray, Lisa, 42, 217 Thackeray, Mike, 27–33, 40–48, 67, 103, 235–36, 237, 269, 270 and battery competition, 78, 91, 126, 180, 182 and Battery Hub, 132, 135, 137, 141–42, 149, 217–18, 221, 227–28, 248, 251, 254, 269 and Chamberlain, 27, 73–74, 77–78, 128, 141–42, 221 and collaboration, 140–42, 170 and Croy, 168, 170–72, 238, 241, 286, 287 and Envia/Kumar, 78, 85, 166, 168–72, 207, 255–56, 277, 278 and Johnson, 40–41, 42, 43, 46, 287 and lithium-ion, 31–33, 41–42, 45–46, 152, 153 move to Argonne, 41–42, 48, 53, 98, 102 and NMC, 41, 43–47, 55–57, 58, 66, 70–72, 72, 74, 79, 84, 102, 127, 132, 141, 152, 153–57, 160, 197 and patents, 33, 46–47, 73, 78, 84, 127, 153, 156, 170 and spinel, 28–29, 30–32, 33, 38, 41–42, 45–46, 110, 113, 152, 153 and voltage fade, 154–57, 159–60, 210, 238 Thatcher, Margaret, 35 thermodynamics, 154, 169, 170 3M Company, 58, 66, 153, 197–98 Toda, 67, 156 Toyota, 8, 115, 116, 117, 189, 231, 257, 284 and Prius, see Prius Trahey, Lynn, 207, 208–10, 212, 268–71 transistor, 122 Tulgey Wood, 11–12 Ullrick, Brad, 224–25 Union Carbide, 36 Union of Concerned Scientists, 214–15 United States: and battery competition, 5, 6, 7, 9, 68, 71, 74, 107, 151 energy requirements of, 75 industrial decline in, 37, 129 research cutbacks in, 62, 65 University of Chicago, 127 Stagg Field, 10, 11 University of Texas, 39, 242 uranium-235, 11 Vaughey, Jack, 135, 228, 235, 237–38 Vegetabile, Jim, 147 Venkatachalam, Mani, 163, 165 venture capital, 84–87, 106–7, 111–13, 116–17, 126, 128, 190–91, 201, 266, 274 Verbrugge, Mark, 111 Vissers, Don, 41–42, 53, 55, 102 Volt, 109–13, 145–48 batteries for, 3, 4, 5, 47–48, 70, 107, 113, 146–48, 155, 197–98, 233, 257, 266, 272, 280, 285 as concept car, 109, 110, 147 cost of, 72, 107, 109, 257 fires in, 145–46 as hybrid, 109, 185 in the lab, 188 market for, 72, 109, 183 next generation of, 110, 112, 256–57 sales of, 109, 177, 186 Volta, Alessandro, 18, 19, 45 Wan Gang, 60, 76, 96, 178, 180, 280, 282–83, 284 U.S. visit of, 3–6, 7, 9, 27, 79 Wanxiang, 252 Watson, T.


pages: 829 words: 229,566

This Changes Everything: Capitalism vs. The Climate by Naomi Klein

1960s counterculture, activist fund / activist shareholder / activist investor, battle of ideas, Berlin Wall, big-box store, bilateral investment treaty, British Empire, business climate, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, clean water, Climategate, cognitive dissonance, coherent worldview, colonial rule, Community Supported Agriculture, complexity theory, crony capitalism, decarbonisation, deindustrialization, dematerialisation, different worldview, Donald Trump, Downton Abbey, energy security, energy transition, equal pay for equal work, Exxon Valdez, failed state, Fall of the Berlin Wall, feminist movement, financial deregulation, food miles, Food sovereignty, global supply chain, hydraulic fracturing, ice-free Arctic, immigration reform, income per capita, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Jones Act, Kickstarter, light touch regulation, market fundamentalism, moral hazard, Naomi Klein, new economy, Nixon shock, Occupy movement, offshore financial centre, oil shale / tar sands, open borders, patent troll, Pearl River Delta, planetary scale, post-oil, profit motive, quantitative easing, race to the bottom, Ralph Waldo Emerson, Rana Plaza, renewable energy transition, Ronald Reagan, smart grid, special economic zone, Stephen Hawking, Stewart Brand, structural adjustment programs, Ted Kaczynski, the scientific method, The Wealth of Nations by Adam Smith, trade route, transatlantic slave trade, trickle-down economics, Upton Sinclair, uranium enrichment, urban planning, urban sprawl, wages for housework, walkable city, Washington Consensus, Whole Earth Catalog, WikiLeaks

Michael Bloomberg did not respond to repeated requests for comment.55 The EDF has done more than help the fracking industry appear to be taking environmental concerns seriously. It also led research that has been used to counter claims that high methane leakage disqualifies fracked natural gas as a climate solution. The EDF has partnered with Shell, Chevron, and other top energy companies on one in a series of studies on methane leaks with the clear goal, as one EDF official put it, of helping “natural gas to be an accepted part of a strategy for improving energy security and moving to a clean energy future.” When the first study arrived in September 2013, published in Proceedings of the National Academy of Sciences, it made news by identifying fugitive methane leakage rates from gas extraction that were ten to twenty times lower than those in most other studies to date.56 But the study’s design contained serious limitations, the most glaring of which was allowing the gas companies to choose the wells they wanted inspected.

So we need money, we need technology, to be able to do things differently.”43 And that means the wealthy world must pay its climate debts. And yet financing a just transition in fast-developing economies has not been a priority of activists in the North. Indeed a great many Big Green groups in the United States consider the idea of climate debt to be politically toxic, since, unlike the standard “energy security” and green jobs arguments that present climate action as a race that rich countries can win, it requires emphasizing the importance of international cooperation and solidarity. Sunita Narain hears these objections often. “I’m always being told—especially by my friends in America—that . . . issues of historical responsibility are something that we should not talk about. What my forefathers did is not my responsibility.”

Green Energy and Green Economy Act, 2009, S.O. 2009, c.12—Bill 150, Government of Ontario, 2009. 6. Jenny Yuen, “Gore Green with Envy,” Toronto Star, November 25, 2009; “International Support for Ontario’s Green Energy Act,” Government of Ontario, Ministry of Energy, June 24, 2009. 7. “Feed-in Tariff Program: FIT Rules Version 1.1,” Ontario Power Authority, September 30, 2009, p. 14. 8. Michael A. Levi, “The Canadian Oil Sands: Energy Security vs. Climate Change,” Council on Foreign Relations, 2009, p. 12; Gary Rabbior, “Why the Canadian Dollar Has Been Bouncing Higher,” Globe and Mail, October 30, 2009. 9. GAS: Mississauga Power Plant Cancellation Costs, Special Report, Office of the Auditor General of Ontario, April 2013, pp. 7–8; Oakville Power Plant Cancellation Costs, Special Report, Office of the Auditor General of Ontario, October 2013, pp. 7–8; WIND: Dave Seglins, “Ont.


pages: 553 words: 168,111

The Asylum: The Renegades Who Hijacked the World's Oil Market by Leah McGrath Goodman

anti-communist, Asian financial crisis, automated trading system, banking crisis, barriers to entry, Bernie Madoff, computerized trading, corporate governance, corporate raider, credit crunch, Credit Default Swap, East Village, energy security, Etonian, family office, Flash crash, global reserve currency, greed is good, High speed trading, light touch regulation, market fundamentalism, peak oil, Peter Thiel, pre–internet, price mechanism, profit motive, regulatory arbitrage, reserve currency, rolodex, Ronald Reagan, side project, Silicon Valley, upwardly mobile, zero-sum game

I also installed a wood-burning stove to use as supplemental heat to my oil-fired steam gravity system and expect to reduce my oil consumption there by 400 gallons this winter.” A second source in San Francisco told me about how he personally knew somebody building a bunker in his backyard for his extended family and stockpiling it with food, guns, and gold bars, after losing all faith in the government’s ability to put a lid on high energy prices and maintain national energy security. Wartime oil prices also were being met with warnings from economists of another great reckoning in the form of a global recession. Yet more than a year later, no recession had materialized. OPEC, which tried to keep oil prices as high as possible (just shy of fomenting worldwide backlash), seized the moment in late 2004, announcing a cut in production of a million barrels a day. It knew full well the move would push prices up.

“The storms didn’t cause oil markets to go higher. Oil markets were concerned about a storm because global supplies are really tight.” Little could be proven about oil supply itself, but it definitely was provable that oil supply was not rising as fast as global demand, and the two were approaching a dead heat. There was only about a million barrels of oil a day of wiggle room, which left the world’s energy security hanging in the balance. “It’s going to be really hard to keep up with demand, because there are fewer and fewer places to explore for oil, except really exotic places like Western Siberia, or Chad,” Thiel said. “These places are really hot, really cold, or just politically dangerous. People are looking in the last corners of the earth.” Henry Jarecki, the septuagenarian hedge fund trader who swore never to trade on Nymex but long ago relented, was more circumspect about the price swings.

It was understood back then that the nation would need to develop cleaner, cheaper energy resources by the time it entered the twenty-first century—or risk ongoing war, more oil price spikes, and a long-term threat to its prosperity. Yet the United States has only fallen further behind and has become used to depending on oil-rich nations—many of which are not particularly friendly with the United States—to deal with its energy problems. As the country turned a blind eye to its energy security, the failed potato traders of downtown Manhattan, without much forethought, assembled their own high-stakes casino, which became Nymex. “It was our very own Manhattan Project,” one trader recalls. “And we sort of looked at it that way. You know how the real Manhattan Project scientists afterward were like, ‘We didn’t realize how big it would be, we didn’t know what we were doing, and, come to think of it, maybe we shouldn’t have done it?’


pages: 370 words: 102,823

Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth by Michael Jacobs, Mariana Mazzucato

balance sheet recession, banking crisis, basic income, Bernie Sanders, Bretton Woods, business climate, business cycle, Carmen Reinhart, central bank independence, collaborative economy, complexity theory, conceptual framework, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, crony capitalism, David Ricardo: comparative advantage, decarbonisation, deindustrialization, dematerialisation, Detroit bankruptcy, double entry bookkeeping, Elon Musk, endogenous growth, energy security, eurozone crisis, factory automation, facts on the ground, fiat currency, Financial Instability Hypothesis, financial intermediation, forward guidance, full employment, G4S, Gini coefficient, Growth in a Time of Debt, Hyman Minsky, income inequality, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), Internet of things, investor state dispute settlement, invisible hand, Isaac Newton, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, knowledge economy, labour market flexibility, low skilled workers, Martin Wolf, mass incarceration, Mont Pelerin Society, neoliberal agenda, Network effects, new economy, non-tariff barriers, paradox of thrift, Paul Samuelson, price stability, private sector deleveraging, quantitative easing, QWERTY keyboard, railway mania, rent-seeking, road to serfdom, savings glut, Second Machine Age, secular stagnation, shareholder value, sharing economy, Silicon Valley, Steve Jobs, the built environment, The Great Moderation, The Spirit Level, Thorstein Veblen, too big to fail, total factor productivity, transaction costs, trickle-down economics, universal basic income, very high income

This is especially relevant in the present context of economic stagnation and pervasive macroeconomic uncertainty. Third, and perhaps most important, well-managed SIBs with a clear mandate are able to provide the kind of patient, long-term and mission-oriented finance that is needed to support investment in infrastructure and new technologies. Many of these long-term, capital-intensive and risky projects, which are necessary to deal with great challenges like climate change and energy security, will not be given credit by a private financial sector increasingly oriented towards the short term.2 This chapter starts by outlining the weak macroeconomic conditions currently exhibited in the EU, in particular in the euro zone. We then discuss the main EU policy measures that have been implemented in recent years to counteract the decline in productive fixed investment. After illustrating their limited effectiveness, we set out our proposed investment plan for Europe, comprising an expansion of lending by the EIB and slower fiscal consolidation.

The scale of investment in low-carbon energy that these plans will require is already shifting investor expectations, leading to predictions of further cost reductions as the scale of global markets expands and boosting the prospects of further technological innovation, for example in energy storage. The value of high-carbon assets, such as the stocks of coal mining companies, is already in decline, and investors are increasingly analysing the risks to such assets which further climate policy may bring.44 Meanwhile, policy-makers are increasingly recognising the short-term benefits from effectively managing a low-carbon transition in terms of energy efficiency, energy security, urban pollution, congestion and generating innovation.45 It is too early to say that a low-carbon transformation tipping point has been reached; but it is no longer fanciful to imagine it on the horizon. Indeed, the historic Paris Accord was as much a reflection as a cause of a fundamental change in perceptions about the economics of decarbonisation; one that has shifted from cost (and burdens to be shared) to opportunities and self-interest.


pages: 391 words: 99,963

The Weather of the Future by Heidi Cullen

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, air freight, American Society of Civil Engineers: Report Card, availability heuristic, back-to-the-land, bank run, California gold rush, carbon footprint, clean water, colonial rule, energy security, illegal immigration, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, Kickstarter, mass immigration, megacity, millennium bug, out of africa, Silicon Valley, smart cities, trade route, urban planning, Y2K

The Desertec consortium, brought together by Munich Re, the world’s biggest reinsurer, consisted of some of Germany’s biggest and most powerful companies, including Siemens and Deutsche Bank. The plant symbolized a way to solve the problems of climate change and energy security simultaneously—and if everything went according to plan, it might help Africans as well. North African governments sold their desert in return for water. Let us use your desert to generate power, the Desertec consortium argued, and you can use our energy to desalinate seawater so as to irrigate crops that will help feed your growing populations. North Africa’s demand for water had, in fact, increased by two-thirds—an amount that was far beyond the available supply. For Africa, energy security was far less of a concern than water security. The deal was straightforward—Desertec would generate electricity for export in return for desalinating seawater for Africa—and it was a deal that was very hard to pass up.


pages: 414 words: 101,285

The Butterfly Defect: How Globalization Creates Systemic Risks, and What to Do About It by Ian Goldin, Mike Mariathasan

"Robert Solow", air freight, Andrei Shleifer, Asian financial crisis, asset-backed security, bank run, barriers to entry, Basel III, Berlin Wall, Bretton Woods, BRICs, business cycle, butterfly effect, clean water, collapse of Lehman Brothers, collateralized debt obligation, complexity theory, connected car, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, David Ricardo: comparative advantage, deglobalization, Deng Xiaoping, discovery of penicillin, diversification, diversified portfolio, Douglas Engelbart, Douglas Engelbart, Edward Lorenz: Chaos theory, energy security, eurozone crisis, failed state, Fellow of the Royal Society, financial deregulation, financial innovation, financial intermediation, fixed income, Gini coefficient, global pandemic, global supply chain, global value chain, global village, income inequality, information asymmetry, Jean Tirole, John Snow's cholera map, Kenneth Rogoff, light touch regulation, Long Term Capital Management, market bubble, mass immigration, megacity, moral hazard, Occupy movement, offshore financial centre, open economy, profit maximization, purchasing power parity, race to the bottom, RAND corporation, regulatory arbitrage, reshoring, Silicon Valley, six sigma, Stuxnet, supply-chain management, The Great Moderation, too big to fail, Toyota Production System, trade liberalization, transaction costs, uranium enrichment

,” Industrial Physicist 9: 8–13. 19. See, for example, Ken Belson, 2008, “’03 Blackout Is Recalled, amid Lessons Learned,” New York Times, 13 August, accessed 1 February 2013, http://www.nytimes.com/2008/08/14/nyregion/14blackout.html?_r=0. 20. Eben Kaplan, 2007, “America’s Vulnerable Energy Grid,” Council on Foreign Relations Backgrounders, 17 April, accessed 20 March 2012, http://www.cfr.org/energy-security/americas-vulnerable-energy-grid/p13153. 21. Ibid. 22. Cro Forum, 2011, “Power Blackout Risks: Risk Management Options,” Emerging Risk Initiative Position Paper, November, 9, accessed 25 January 2013, http://www.agcs.allianz.com/assets/PDFs/Special%20and%20stand-alone%20articles/Power_Blackout_Risks.pdf. 23. BBC, 1999, “Lightning Knocked Out Brazil Power,” BBC World Service, 13 March, accessed 25 January 2013, http://news.bbc.co.uk/1/hi/world/americas/296038.stm. 24.

“Underwriting by Commercial Banks: Incentive Conflicts, Scope Economies, and Project Quality.” Journal of Money, Credit, and Banking 30: 119–133. ———. 2003. “Integration of Lending and Underwriting: Implications of Scope Economies.” Journal of Finance 58 (3): 1167–1191. Kaplan, Eben. 2007. “America’s Vulnerable Energy Grid.” Council on Foreign Relations Backgrounders, 17 April. Accessed 20 March 2012. http://www.cfr.org/energy-security/americas-vulnerable-energy-grid/p13153. Kaufman, George G. 1995. “Comment on Systemic Risk.” In Research in Financial Services: Banking, Financial Markets, and Systemic Risk, vol. 7, ed. George G. Kaufman. Greenwich, CT: JAI Press, 47–52. Kaufman, George G., and Kenneth E. Scott. 2003. “What Is Systemic Risk, and Do Bank Regulators Retard or Contribute to It?” Independent Review 7 (3): 371–391.


Nuclear War and Environmental Catastrophe by Noam Chomsky, Laray Polk

American Legislative Exchange Council, British Empire, cuban missile crisis, David Ricardo: comparative advantage, energy security, Howard Zinn, interchangeable parts, invisible hand, Malacca Straits, mutually assured destruction, Naomi Klein, Occupy movement, oil shale / tar sands, Ralph Nader, Ronald Reagan, South China Sea, The Wealth of Nations by Adam Smith, trade route, University of East Anglia, uranium enrichment, WikiLeaks

On the influence of Koch-funded groups on the election process, see note 3, chap. 6. 103 Shelby Lin Erdman, “Battle over Controversial International Oil Pipeline Growing,” CNN, September 5, 2011. The API spokesperson quoted in the article was contacted to verify accuracy; she responded, “If they [Tar Sands Action participants] are protesting the pipeline they are protesting a shovel-ready job that will put thousands of Americans to work. This industry is focused on creating jobs, producing energy responsibly and strengthening America’s energy security.” Sabrina Fang, API Media Relations, e-mail correspondence, November 16, 2011. On how Saudi interests infuse money into US elections through trade associations, namely, API, see Lee Fang, “How Big Business Is Buying the Election,” The Nation, September 17, 2012. 104 The Tar Sands Action is part of an ongoing campaign to protest the proposed 1,661-mile pipeline from Alberta, Canada, to refineries on the Texas Gulf Coast.


pages: 417 words: 109,367

The End of Doom: Environmental Renewal in the Twenty-First Century by Ronald Bailey

3D printing, additive manufacturing, agricultural Revolution, Albert Einstein, Asilomar, autonomous vehicles, business cycle, Cass Sunstein, Climatic Research Unit, Commodity Super-Cycle, conceptual framework, corporate governance, creative destruction, credit crunch, David Attenborough, decarbonisation, dematerialisation, demographic transition, disruptive innovation, diversified portfolio, double helix, energy security, failed state, financial independence, Gary Taubes, hydraulic fracturing, income inequality, Induced demand, Intergovernmental Panel on Climate Change (IPCC), invisible hand, knowledge economy, meta analysis, meta-analysis, Naomi Klein, oil shale / tar sands, oil shock, pattern recognition, peak oil, Peter Calthorpe, phenotype, planetary scale, price stability, profit motive, purchasing power parity, race to the bottom, RAND corporation, rent-seeking, Stewart Brand, Tesla Model S, trade liberalization, University of East Anglia, uranium enrichment, women in the workforce, yield curve

Besides those just listed, there are the basket cases of Nigeria, Chad, Sudan, Angola, and Libya—and that’s just in Africa. If an “oil crisis” fails to materialize, it will be chiefly because nimble private oil companies will have succeeded in boosting production capacity in enough places around the world that temporarily losing one or two major producers to incompetence or malice won’t matter much. But the sad fact is that the world’s energy security would be a lot greater if more of the world’s oil and gas resources were in the hands of private companies. Peak oil, if it occurs, will be the result of human folly and government greed, not because the world has suddenly run out of crude. Finally, it should be noted that many environmentalists aren’t scared that we will soon run out of oil; instead, they fear that we won’t. Why? Because they worry about the effect the carbon dioxide emitted into atmosphere by burning all that oil will have on the climate.

,” Munich RePEc Archive Paper 51859, December 4, 2013, 9. mpra.ub.uni-muenchen.de/51859/1/MPRA_paper_51859.pdf. The super-cycles are: Martin Stuermer, “150 Years of Boom and Bust: What Drives Mineral Commodity Prices?” Munich RePEc Archive Paper 51859, December 4, 2013. mpra.ub.uni-muenchen.de/51859/1/MPRA_paper_51859.pdf. “Since 1871, the Economist”: Blake Clayton, “Bad News for Pessimists Everywhere,” Energy, Security, and Climate, Council on Foreign Relations, March 22, 2013. many researchers believe: David Jacks, “From Boom to Bust: A Typology of Real Commodity Prices in the Long Run,” National Bureau of Economic Research Working Paper 18874, March 2013, 4. www.nber.org/papers/w18874; and Maria Kolesnikova and Isis Almeida, “Goldman Sees New Commodity Cycle as Shale Oil Spurs U.S. Growth.” Bloomberg News, January 13, 2014. www.bloomberg.com/news/2014-01-13/goldman-sees-new-commodity-cycle-as-shale-oil-spurs-u-s-growth.html.


pages: 423 words: 118,002

The Boom: How Fracking Ignited the American Energy Revolution and Changed the World by Russell Gold

accounting loophole / creative accounting, activist fund / activist shareholder / activist investor, activist lawyer, addicted to oil, American energy revolution, Bakken shale, Bernie Sanders, Buckminster Fuller, clean water, corporate governance, corporate raider, energy security, energy transition, hydraulic fracturing, Intergovernmental Panel on Climate Change (IPCC), margin call, market fundamentalism, Mason jar, North Sea oil, oil shale / tar sands, oil shock, peak oil, Project Plowshare, risk tolerance, Ronald Reagan, shareholder value, Silicon Valley, Upton Sinclair

With a typical mix of boldness and far-reaching rhetoric, he said: “The future will once again belong to producers over the next twenty to fifty years.” 10 CELESTIA Fracking is changing the world, but some places are shouldering more of this change than others. To understand better what Aubrey McClendon and Chesapeake have created, I returned to the Farm for a week to spend time traveling around Sullivan County. Chesapeake had leased thousands of acres and drilled nearly one hundred wells, including one on my parents’ property. The debate over fracking here isn’t abstract. US energy security and climate change don’t come up that often in conversation. When residents of Sullivan County talk about fracking, they talk about their water and land as well as the trucks on the roads. What I learned—and would have realized long ago if I had thought about it—was that my parents’ approach to the land was out of step with their neighbors’. They planned to keep the land untouched and wild.

“Comparative Economics of Gas Production from Conventional, Tight, and Deep Reservoirs.” Paper presented at SPE Unconventional Gas Recovery Symposium, Pittsburgh, May 16–18, 1982. Tarbell, Ida M. The History of the Standard Oil Company (Briefer Version). Edited by David M. Chalmers. New York: Harper & Row, 1966. Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Free Press, 1991. ———. The Quest: Energy, Security and the Remaking of the Modern World. New York: Penguin Press, 2011. Yost II, A. B., W. K. Overbey Jr., and R. S. Carden. “Drilling a 2,000-ft Horizontal Well in the Devonian Shale.” Paper presented at SPE Annual Technical Conference and Exhibition, Dallas, September 27–30, 1987. Yost II, A. B., and W. K. Overbey Jr. “Production and Stimulation Analysis of Multiple Hydraulic Fracturing of a 2,000-ft.


pages: 364 words: 112,681

Moneyland: Why Thieves and Crooks Now Rule the World and How to Take It Back by Oliver Bullough

banking crisis, Bernie Madoff, bitcoin, blood diamonds, Bretton Woods, BRICs, British Empire, capital controls, central bank independence, corporate governance, cryptocurrency, cuban missile crisis, dark matter, diversification, Donald Trump, energy security, failed state, Flash crash, Francis Fukuyama: the end of history, full employment, high net worth, if you see hoof prints, think horses—not zebras, income inequality, joint-stock company, liberal capitalism, liberal world order, mass immigration, medical malpractice, offshore financial centre, plutocrats, Plutocrats, Plutonomy: Buying Luxury, Explaining Global Imbalances, rent-seeking, Richard Feynman, risk tolerance, Sloane Ranger, sovereign wealth fund, WikiLeaks

An alternative is to fund an all-party parliamentary group linked to their home country, which brings with it the possibility of taking politicians to a foreign capital, away from the prurient eyes of the British tabloid press, where they can be treated to the goodies their hard work as earned. That’s not enough, though. The billionaire needs to establish a connection of some kind, particularly if he’s still in business in his home country. If he owns a gas company, then the PR advisers will push hard on energy security, boost him as an independent supplier of the vital resources that the West needs. If he has interests in agriculture, that’s an easy one: food security is crucial to any country, and providing enduring sources of cheap, good-quality food is vital. There’s always a connection that can be made, and once that has been done, he can host conferences to which he can invite famous ex-politicians. Perhaps a minor royal will agree to head some appropriately named organisation.

The White House insisted the position was a private matter for Hunter Biden, and unrelated to his father’s job, but that is not how anyone I spoke to in Ukraine interpreted it. Hunter Biden is an undistinguished corporate lawyer with no previous Ukraine experience. Why then would a Ukrainian tycoon hire him? Hunter Biden failed to reply to questions I sent him, but he told the Wall Street Journal in December 2015 that he had joined Burisma ‘to strengthen corporate governance and transparency at a company working to advance energy security’. That was not an explanation that many people found reassuring. The Washington Post was particularly damning: ‘The appointment of the vice president’s son to a Ukrainian oil board looks nepotistic at best, nefarious at worst,’ it wrote, shortly after Hunter Biden’s appointment. ‘You have to wonder how big the salary has to be to put US soft power at risk like this. Pretty big, we’d imagine.’


pages: 127 words: 51,083

The Oil Age Is Over: What to Expect as the World Runs Out of Cheap Oil, 2005-2050 by Matt Savinar

Albert Einstein, clean water, energy security, hydrogen economy, illegal immigration, invisible hand, new economy, oil shale / tar sands, oil shock, peak oil, post-oil, Ralph Nader, reserve currency, Rosa Parks, The Wealth of Nations by Adam Smith, Y2K

It takes about two barrels of oil in energy investment to produce three barrels of oil equivalent from those resources.42 The cost of Canadian non-conventional oil projects is so high that in May 2003, the oil industry publication Rigzone suggested, "President Bush, known for his religious faith, should be praying nightly that PetroCanada and other oil sands players find ways to cut their costs and boost US energy security."43 2. The environmental costs are horrendous and the process uses a tremendous amount of fresh water and also natural gas, both of which are in limited supply. 3. Although non-conventional oil is quite abundant, its rate of extraction is far too slow to meet the huge global energy demand. Dr. Colin Campbell estimates that combined Canadian and Venezuelan output of non-conventional oil will be 2.8 million barrels per day (mbd) in 2005, 3.6 mbd in 2012, and 4.6 mbd in 2020.


pages: 421 words: 120,332

The World in 2050: Four Forces Shaping Civilization's Northern Future by Laurence C. Smith

Bretton Woods, BRICs, business cycle, clean water, Climategate, colonial rule, deglobalization, demographic transition, Deng Xiaoping, energy security, flex fuel, G4S, global supply chain, Google Earth, guest worker program, Hans Island, hydrogen economy, ice-free Arctic, informal economy, Intergovernmental Panel on Climate Change (IPCC), invention of agriculture, invisible hand, land tenure, Martin Wolf, megacity, Mikhail Gorbachev, New Urbanism, oil shale / tar sands, oil shock, peak oil, Pearl River Delta, purchasing power parity, Ronald Reagan, Ronald Reagan: Tear down this wall, side project, Silicon Valley, smart grid, sovereign wealth fund, special economic zone, standardized shipping container, The Wealth of Nations by Adam Smith, Thomas Malthus, trade liberalization, trade route, UNCLOS, UNCLOS, urban planning, Washington Consensus, Y2K

How much of each commodity is needed to provide the other is something not well appreciated by the public.”242 It is something not well appreciated by politicians and planners either. Instead of recognizing this marriage between energy and water, their respective planning and regulatory agencies are almost always totally separate entities. “Energy analysts have typically ignored the water requirements of their proposed measures to meet stated energy security goals. Water analysts have typically ignored the energy requirements to meet stated water goals,” concluded a recent Oak Ridge National Laboratory report.243 Historically we have gotten away with this thanks to cheap water, cheap energy, or both. That cushion will continue to narrow as supplies of both tighten out to 2050. One of the most widely anticipated outcomes of climate change is that the Hadley Cell circulation will weaken slightly and expand.

Righter, Wind Power in View: Energy Landscapes in a Crowded World (San Diego: Academic Press, 2002), 248 pp. 240 The reason for this is the very large water losses that evaporate from the open reservoirs behind hydroelectric dams. 241 For example, see P. W. Gerbens-Leenes, A. Y. Hoekstra, T. H. van der Meer, “The Water Footprint of Energy from Biomass: A Quantitative Assessment and Consequences of an Increasing Share of Bio-energy in Energy Supply,” Ecological Economics 68 (2009): 1052-1060. 242 Telephone interview with M. Pasqualetti, April 14, 2009. 243 T. R. Curlee, M. J. Sale, “Water and Energy Security,” Proceedings, Universities Council on Water Resources, 2003. 244 For climate model simulations of Hadley Cell expansion, see J. Lu, G. A. Vecchi, T. Reichler, “Expansion of the Hadley Cell under Global Warming,” Geophysical Research Letters 34 (2007): L06085; for direct observations from satellites, see Q. Fu, C. M. Johanson, J. M. Wallace, T. Reichler, “Enhanced Mid-latitude Tropospheric Warming in Satellite Measurements,” Science 312, no. 5777 (2006): 1179. 245 P.


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Brexit: What the Hell Happens Now?: The Facts About Britain's Bitter Divorce From Europe 2016 by Ian Dunt

Boris Johnson, Doha Development Round, Donald Trump, energy security, low skilled workers, non-tariff barriers, open borders, Silicon Valley, UNCLOS, UNCLOS

In other treaties, the talks will not be so much about reducing standards as accepting the required policy of the negotiating government. In negotiations with India, for instance, immigration is likely to feature. Indian students often find it hard to come to the UK and that has not become any easier since May’s crackdown on student visas. Despite all the talk of cutting immigration, UK negotiators will come under strain to make concessions to Indian requests in return for a trade deal. With China, the concern will be energy security. Beijing is likely to demand a greater role in the provision of our energy infrastructure. May’s decision to authorise the Hinkley Point C nuclear power plant, where the Chinese committed to one-third of the £18 billion cost, gave them a foothold in western Europe, as well as a stake in a new project at Sizewell and the possibility of building its own reactors at Bradwell, Essex. China will petition for more access to the market.


pages: 441 words: 136,954

That Used to Be Us by Thomas L. Friedman, Michael Mandelbaum

addicted to oil, Affordable Care Act / Obamacare, Albert Einstein, Amazon Web Services, American Society of Civil Engineers: Report Card, Andy Kessler, Ayatollah Khomeini, bank run, barriers to entry, Berlin Wall, blue-collar work, Bretton Woods, business process, call centre, carbon footprint, Carmen Reinhart, Cass Sunstein, centre right, Climatic Research Unit, cloud computing, collective bargaining, corporate social responsibility, creative destruction, Credit Default Swap, crowdsourcing, delayed gratification, energy security, Fall of the Berlin Wall, fear of failure, full employment, Google Earth, illegal immigration, immigration reform, income inequality, Intergovernmental Panel on Climate Change (IPCC), job automation, Kenneth Rogoff, knowledge economy, Lean Startup, low skilled workers, Mark Zuckerberg, market design, mass immigration, more computing power than Apollo, Network effects, obamacare, oil shock, pension reform, Report Card for America’s Infrastructure, rising living standards, Ronald Reagan, Rosa Parks, Saturday Night Live, shareholder value, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, the scientific method, Thomas L Friedman, too big to fail, University of East Anglia, WikiLeaks

If we do not find a new source of abundant, cheap, clean, and reliable energy to power the future of all these “new Americans,” we run the risk of burning up, choking up, heating up, and smoking up our planet far faster than even Al Gore predicted. This means, however, that the technologies that can supply abundant, cheap, clean, and reliable energy will be the next new global industry. Energy technology—ET—will be the new IT. A country with a thriving ET industry will enjoy energy security, will enhance its own national security, and will contribute to global environmental security. It also will be home to innovative companies, because companies cannot make products greener without inventing smarter materials, smarter software, and smarter designs. It is hard to imagine how America will be able to sustain a rising standard of living if it does not have a leading role in this next great global industry.

There is every reason to believe, in other words, that clean energy will become the successor to information technology as the next major cutting-edge industry on which the economic fortunes of the richest countries in the world will depend. That is the bet that China has made in its twelfth five-year plan, authorized in March 2011, which stresses that development of renewable energy will be the key to China’s energy security for the next decade. That plan places special emphasis on developing solar and nuclear energy. Moreover, renewable energy depends on new technology, which the United States has historically led the world in developing. China is now seeking to seize that position. “Chinese solar panel manufacturers accounted for slightly over half the world’s production last year,” Keith Bradsher, the New York Times Hong Kong business reporter, wrote (January 14, 2011).


pages: 483 words: 143,123

The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters by Gregory Zuckerman

activist fund / activist shareholder / activist investor, addicted to oil, American energy revolution, Asian financial crisis, Bakken shale, Bernie Sanders, Buckminster Fuller, corporate governance, corporate raider, credit crunch, energy security, Exxon Valdez, housing crisis, hydraulic fracturing, Kickstarter, LNG terminal, margin call, Maui Hawaii, North Sea oil, oil rush, oil shale / tar sands, oil shock, peak oil, Peter Thiel, reshoring, self-driving car, Silicon Valley, sovereign wealth fund, Steve Jobs, urban decay

CHAPTER FOUR 1. Ann Zimmerman, “A Lot of Gas,” Dallas Observer, May 15, 1997. 2. Russell Gold, “The Man Who Pioneered the Shale-Gas Revolution,” Wall Street Journal, October 23, 2012. 3. Dan Steward, The Barnett Shale Play: Phoenix of the Fort Worth Basin; A History (Fort Worth, TX: Fort Worth Geological Society/North Texas Geological Society, 2007). 4. Daniel Yergin, The Quest: Energy, Security, and the Remaking of the Modern World (New York: Penguin Press, 2011). 5. Daniel Yergin, “Stepping on the Gas,” Wall Street Journal, April 2, 2011. 6. Jim Fuquay, “Q&A, George Mitchell, Founder of Mitchell Energy,” Fort Worth Star-Telegram, April 2, 2008. CHAPTER FIVE 1. Jerry Shottenkirk, “OKC-Based SandRidge Energy CEO Tom Ward Says He Has Much to Be Thankful For,” Oklahoma Journal Record, January 8, 2007. 2.

John Shiffman, Anna Driver, and Brian Grow, “Special Report: The Lavish and Leveraged Life of Aubrey McClendon,” Reuters, June 7, 2012. 8. Ana Campoy, “Natural-Gas Producers Cut Output,” Wall Street Journal, September 6, 2007. 9. John J. Fialka, “Wildcat Producer Sparks Oil Boom on Montana Plains,” Wall Street Journal, April 5, 2006. 10. Joe Carroll, “Peak Oil Scare Fades as Shale, Deepwater Wells Gush Crude,” Bloomberg News, February 6, 2012; Daniel Yergin, The Quest: Energy, Security, and the Remaking of the Modern World (New York: Penguin Press, 2011). CHAPTER ELEVEN 1. Christopher Helman, “In His Own Words: Chesapeake’s Aubrey McClendon Answers Our 25 Questions,” Forbes, October 5, 2011. 2. Joshua Schneyer, Jeanine Prezioso, and David Sheppard, “Inside Chesapeake, CEO Ran $200 Million Hedge Fund,” Reuters, May 2, 2012. 3. Ryan Dezember, “Texas Oil Man Finds a New Groove,” Wall Street Journal, June 15, 2012. 4.


pages: 496 words: 131,938

The Future Is Asian by Parag Khanna

3D printing, Admiral Zheng, affirmative action, Airbnb, Amazon Web Services, anti-communist, Asian financial crisis, asset-backed security, augmented reality, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Basel III, blockchain, Boycotts of Israel, Branko Milanovic, British Empire, call centre, capital controls, carbon footprint, cashless society, clean water, cloud computing, colonial rule, computer vision, connected car, corporate governance, crony capitalism, currency peg, deindustrialization, Deng Xiaoping, Dissolution of the Soviet Union, Donald Trump, energy security, European colonialism, factory automation, failed state, falling living standards, family office, fixed income, flex fuel, gig economy, global reserve currency, global supply chain, haute couture, haute cuisine, illegal immigration, income inequality, industrial robot, informal economy, Internet of things, Kevin Kelly, Kickstarter, knowledge worker, light touch regulation, low cost airline, low cost carrier, low skilled workers, Lyft, Malacca Straits, Mark Zuckerberg, megacity, Mikhail Gorbachev, money market fund, Monroe Doctrine, mortgage debt, natural language processing, Netflix Prize, new economy, off grid, oil shale / tar sands, open economy, Parag Khanna, payday loans, Pearl River Delta, prediction markets, purchasing power parity, race to the bottom, RAND corporation, rent-seeking, reserve currency, ride hailing / ride sharing, Ronald Reagan, Scramble for Africa, self-driving car, Silicon Valley, smart cities, South China Sea, sovereign wealth fund, special economic zone, stem cell, Steve Jobs, Steven Pinker, supply-chain management, sustainable-tourism, trade liberalization, trade route, transaction costs, Travis Kalanick, uber lyft, upwardly mobile, urban planning, Washington Consensus, working-age population, Yom Kippur War

The most progressive US strategists have talked about the need to balance “heartland” (meaning core inner-Asian) and “rimland” (meaning Pacific maritime) strategies to avoid being overly China-centric, but no single policy move to back this up has been implemented. Overall, the United States’ financial position is weakening as Asians expand local currency borrowing and regional trade rather than depend on the US dollar and US markets. At the same time, the United States’ energy and technology position is robust and growing. US oil and liqufied natural gas exports are major contributors to energy security for East Asian countries, while US military hardware and computing software are in high demand as well. US strategic influence in Asia is thus declining even as its economic dependence on Asia is growing. In the age of Asianization, Asia will shape the United States more than the reverse. 4 Asia-nomics China watchers have often been polarized between two views: either China will devour the world or it is on the brink of collapse.

The Crisis of Global Modernity: Asian Traditions and a Sustainable Future. Cambridge, UK: Cambridge University Press, 2015. Dychtwald, Zak. Young China: How the Restless Generation Will Change Their Country and the World. New York: St. Martin’s Press, 2018. Ebinger, Charles K. “India’s Energy and Climate Policy: Can India Meet the Challenge of Industrialization and Climate Change?” Brookings Institution Energy Security and Climate Initiative Policy Brief 16-01, June 2016. https://www.brookings.edu/wp-content/uploads/2016/07/india_energy_climate_policy_ebinger.pdf. Economy, Elizabeth, and Michael Levi. By All Means Necessary: How China’s Resource Quest Is Changing the World. New York: Oxford University Press, 2014. Ehteshami, Anoushiravan. Dynamics of Change in the Persian Gulf: Political Economy, War and Revolution.


America in the World by Robert B. Zoellick

Albert Einstein, anti-communist, banking crisis, battle of ideas, Berlin Wall, Bretton Woods, British Empire, Corn Laws, coronavirus, cuban missile crisis, defense in depth, Deng Xiaoping, Donald Trump, Douglas Engelbart, Douglas Engelbart, energy security, European colonialism, facts on the ground, Fall of the Berlin Wall, hypertext link, illegal immigration, immigration reform, imperial preference, Isaac Newton, Joseph Schumpeter, land reform, Mikhail Gorbachev, MITM: man-in-the-middle, Monroe Doctrine, mutually assured destruction, Norbert Wiener, Paul Samuelson, RAND corporation, reserve currency, Ronald Reagan, Ronald Reagan: Tear down this wall, Scramble for Africa, Silicon Valley, The Wealth of Nations by Adam Smith, trade liberalization, transcontinental railway, undersea cable, Vannevar Bush, War on Poverty

They prevented a nuclear war or major Soviet victories at a time when U.S. foreign policy was struggling.98 Kissinger, as secretary of state, also combined his insights from realpolitik with tenacious negotiations in a masterpiece of diplomacy: He realigned security relations in the Middle East after the 1973 war between Israel and many of its Arab neighbors, effectively pushing his Soviet competition out of the region. The secretary brought about a durable truce between Egypt and Israel that laid the foundation for a historic peace treaty. Kissinger demonstrated to the Arab states that successful negotiations depended on Washington, not Moscow. And he pushed to end an OPEC oil embargo and rework America’s diplomatic approach to energy security.99 In 1976, when Governor Ronald Reagan challenged President Gerald Ford for the Republican nomination, he called for “superiority” instead of détente. “The evidence mounts that we are Number Two in a world where it’s dangerous, if not fatal, to be second best.” Détente had not stymied aggressive Soviet moves in missiles and military power, Asia, and Africa. Nor had Moscow’s rhetoric signaled much of an acceptance of a new balance of power.

At various junctures, often amidst shocks, the United States forced adaptations of the system of international trade, finance, and technology. After World War II, the U.S. dollar served as the principal reserve currency. In the 1970s, the United States abandoned the Bretton Woods system of fixed exchange rates, launching in its stead a floating (and sometimes pegged) exchange rate system. The rise of OPEC in the 1970s compelled the United States to experiment with approaches to energy security. More recently, technological, market, and environmental innovations have again transformed energy and environmental politics. The United States adapted the economic system, often fitfully, to assist with development. The United States and other developed nations offered trade preferences to developing economies. Banks in the United States and other international financial centers channeled petrodollars from oil-producing states to developing countries, whose large borrowings led to debt and exchange rate crises.

Bush, Decision Points, 306. 4. My challenge for China—and for U.S. diplomacy—was to move beyond questions of Chinese participation to encouraging Beijing’s behavior—attention to norms, not just forms. The United States, China, and many others have mutual interests in resisting protectionism, thwarting proliferation of weapons of mass destruction and missiles, and countering terrorism; they need to cooperate on energy security, climate change, diseases, exchange rate policies, economic growth, development, and regional security, including dangers in North Korea, Central Asia, and the Persian Gulf. Differences over Taiwan need to be managed peacefully. As Ronald Reagan demonstrated, the United States can speak up for its values—and for freedom—even as it works with China on mutual responsibilities and manages conflicts.


The Corporation: The Pathological Pursuit of Profit and Power by Joel Bakan

Berlin Wall, Cass Sunstein, corporate governance, corporate personhood, corporate social responsibility, creative destruction, energy security, Exxon Valdez, IBM and the Holocaust, joint-stock company, laissez-faire capitalism, market fundamentalism, Naomi Klein, new economy, race to the bottom, Ralph Nader, Ronald Reagan, shareholder value, South Sea Bubble, The Wealth of Nations by Adam Smith, Triangle Shirtwaist Factory, urban sprawl

John Gore, group vice president, government and public affairs, BP, letter to Rebecca O'Malley of Ecopledge, January 16, 2001. 28. Found at www.bpamoco/alaska/qanda/qanda.htm (print copy on file with the author). 29. Letters to Presidents Clinton, December 11, 2000, and Bush, March 20, 2001, from groups of scientists; Kenneth Whitten, retired research biologist, Alaska Department of Fish and Game, gave written testimony at a hearing on the Republican energy bill on July 11, 2001: U.S., Energy Security Act of 2001: Hearing on H.R. 2436 Before the House Committee on Resources: 107th Cong. (Washington, D.C.: U.S. Government Printing Office, 2002). 30. Sir John Browne, "The Case for Social Responsibility," presentation to the Annual Conference of Business for Social Responsibility, Boston, November 10, 1998. 31. The company's stated position has been that it cannot create a plan to drill unless and until the ANWR is opened to drilling.


pages: 497 words: 144,283

Connectography: Mapping the Future of Global Civilization by Parag Khanna

"Robert Solow", 1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, commoditize, complexity theory, continuation of politics by other means, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, digital map, disruptive innovation, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, Ethereum, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, fixed income, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial cluster, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, LNG terminal, low cost airline, low cost carrier, low earth orbit, manufacturing employment, mass affluent, mass immigration, megacity, Mercator projection, Metcalfe’s law, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, off grid, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Parag Khanna, Peace of Westphalia, peak oil, Pearl River Delta, Peter Thiel, Philip Mirowski, plutocrats, Plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, Tim Cook: Apple, trade route, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, young professional, zero day

Chinese proclamations, like America’s, are vague and contradictory, while internal authorities jockey for influence, and success is rationalized after the fact. But China remains ruthlessly clear about one thing: Its power is focused on serving commercial interests and protecting the connectivity on which it depends. A simple equation is usually offered to explain China’s clear linkage between domestic and foreign policy: Energy security = economic growth = political stability = continuation of party rule. The formula breaks down without robust global connectivity: inflows and outflows. By contrast, both the Bush and the Obama administrations have defaulted to military posture as a proxy for influence, forgetting that America’s foreign policy failures from Vietnam to Iraq to Afghanistan have come from intervening rather than from not intervening.

Chevron, which has been operating in Asia for a century, develops almost half the gas reserves of Indonesia, Thailand, and Bangladesh and leads production of Western Australian gas as well—all mostly offshore reserves that require LNG tankers to ship.*4 An LNG terminal network and Asian gas pipeline grid, along with a gas-trading hub to replace rigid contracts with flexible pricing, would together represent the triumph of supply-demand complementarity over geopolitical division.*5 For Asians, “Drill, baby, drill” is a rallying cry for both energy security and regional stability. SOVEREIGNS OF THE SEA China’s state-owned oil companies and the American navy are not the only players in the maritime great game for undersea resources. Powerful and quasi-stateless global firms have also developed their own type of mobile sovereignty: very large floating structures. Shell’s Prelude, for example, is a floating liquefied natural gas platform three times the size of Sydney’s opera house and weighing five times more than America’s largest aircraft carrier.


pages: 258 words: 63,367

Making the Future: The Unipolar Imperial Moment by Noam Chomsky

"Robert Solow", Albert Einstein, Berlin Wall, Bretton Woods, British Empire, capital controls, collective bargaining, corporate governance, corporate personhood, creative destruction, deindustrialization, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Frank Gehry, full employment, Howard Zinn, Joseph Schumpeter, kremlinology, liberation theology, Long Term Capital Management, market fundamentalism, Mikhail Gorbachev, Nelson Mandela, Occupy movement, oil shale / tar sands, precariat, RAND corporation, Ronald Reagan, structural adjustment programs, The Great Moderation, too big to fail, uranium enrichment, Washington Consensus, WikiLeaks, working poor

But NATO quickly took on new missions, expanding to the east in violation of promises to Mikhail Gorbachev, a serious security threat to Russia, naturally raising international tensions. President Obama’s national security adviser, James Jones, NATO supreme allied commander in Europe from 2003 to 2006, advocates NATO expansion east and south, steps that would reinforce U.S. control over Middle East energy supplies (in technical terms, “safeguarding energy security”). He also champions a NATO response force, which will give the U.S.-run military alliance “much more flexible capability to do things rapidly at very long distances.” China may represent Washington’s greatest concern. The China-based Shanghai Cooperation Organization, which some analysts regard as a potential counterbalance to NATO, includes Russia and the Central Asian states. India, Pakistan and Iran are observers, and there is speculation about their joining.


Global Financial Crisis by Noah Berlatsky

accounting loophole / creative accounting, asset-backed security, banking crisis, Bretton Woods, capital controls, Celtic Tiger, centre right, circulation of elites, collapse of Lehman Brothers, collateralized debt obligation, corporate raider, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, deindustrialization, Doha Development Round, energy security, eurozone crisis, financial innovation, Food sovereignty, George Akerlof, God and Mammon, Gordon Gekko, housing crisis, illegal immigration, income inequality, market bubble, market fundamentalism, mass immigration, moral hazard, new economy, Northern Rock, purchasing power parity, quantitative easing, race to the bottom, regulatory arbitrage, reserve currency, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, South China Sea, structural adjustment programs, too big to fail, trade liberalization, transfer pricing, working poor

Overarching goals—to advance democracy, economic opportunity and security—are likely to remain unchanged, although the new president has emphasized in discussions with several Latin American presidents the importance of working together in partnership. In signaling a new approach, President [Barack] Obama has made clear that the United States does not have all the answers and can learn from the experience of regional leaders. A top priority is to work toward energy security in Latin America, and both energy and climate change are critical areas of future U.S.-Latin America cooperation. The upcoming Summit of the Americas will provide an opportunity to unveil new initiatives. The administration is committed to expanding trade benefits to all countries, and will increase the emphasis on the labor and environmental provisions of trade agreements. There is also a desire to advance opportunity from the bottom up as well as to substantially increase aid to the region. 163 6 Viewpoint Islamic Banks Are Insulated from the Crisis Faiza Saleh Ambah Faiza Saleh Ambah is a Saudi journalist who writes for the Washington Post.


pages: 219 words: 63,495

50 Future Ideas You Really Need to Know by Richard Watson

23andMe, 3D printing, access to a mobile phone, Albert Einstein, artificial general intelligence, augmented reality, autonomous vehicles, BRICs, Buckminster Fuller, call centre, clean water, cloud computing, collaborative consumption, computer age, computer vision, crowdsourcing, dark matter, dematerialisation, digital Maoism, digital map, Elon Musk, energy security, failed state, future of work, Geoffrey West, Santa Fe Institute, germ theory of disease, global pandemic, happiness index / gross national happiness, hive mind, hydrogen economy, Internet of things, Jaron Lanier, life extension, Mark Shuttleworth, Marshall McLuhan, megacity, natural language processing, Network effects, new economy, oil shale / tar sands, pattern recognition, peak oil, personalized medicine, phenotype, precision agriculture, profit maximization, RAND corporation, Ray Kurzweil, RFID, Richard Florida, Search for Extraterrestrial Intelligence, self-driving car, semantic web, Skype, smart cities, smart meter, smart transportation, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, strong AI, Stuxnet, supervolcano, telepresence, The Wisdom of Crowds, Thomas Malthus, Turing test, urban decay, Vernor Vinge, Watson beat the top human players on Jeopardy!, web application, women in the workforce, working-age population, young professional

He also believes that the US military will underwrite much of the cost of developing space-based solar power (Chapter 37) because it could solve the issue of supplying electricity to battlefield troops and robotic systems back on Earth. The Moon may represent the next frontier in terms of resources, bringing with it low-cost flights and permanent Moon colonies. A peaceful and abundant future that science-fiction writers and moviemakers have imagined for many years. Conversely, the Moon may represent a dangerous new frontier, where increasingly desperate nations, eager to secure energy security for their own people, battle it out with other nations to survive. Extrapolating again? The argument that we’re running out of much-needed minerals and other key resources seems fairly solid, but it’s quite possible that we’re doing what we often do—extrapolating, either from present conditions or past experience. At the moment we need certain resources, but in the future perhaps our need won’t be so great because we’ll have invented something totally new that’s dependent upon something else entirely, perhaps some substance that’s in abundant supply.


pages: 592 words: 161,798

The Future of War by Lawrence Freedman

Albert Einstein, autonomous vehicles, Berlin Wall, Black Swan, British Empire, colonial rule, conceptual framework, crowdsourcing, cuban missile crisis, currency manipulation / currency intervention, Donald Trump, drone strike, en.wikipedia.org, energy security, Ernest Rutherford, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, Google Glasses, Intergovernmental Panel on Climate Change (IPCC), John Markoff, long peace, megacity, Mikhail Gorbachev, moral hazard, mutually assured destruction, New Journalism, Norbert Wiener, open economy, pattern recognition, Peace of Westphalia, RAND corporation, Ronald Reagan, South China Sea, speech recognition, Steven Pinker, Stuxnet, the scientific method, uranium enrichment, urban sprawl, Valery Gerasimov, WikiLeaks, zero day

During the 2000s the price rose again, encouraging Russia in its optimism about becoming an energy superpower, but then in 2014 prices fell dramatically. Russia was left facing budget deficits but also a loss of markets, as its past attempts to coerce countries using its market position had led the targeted countries to seek alternative suppliers.20 Meanwhile, because of the exploitation of shale gas, the US had become once again a major energy producer. There was a familiar pattern to future projections of energy security, which was to assume that supply was close to its peak while demand was continuing to grow. Such claims tended to ignore more sanguine market information, failed to think about the impact of prices on discovery of new reserves or the development of more efficient alternatives to fossil fuels, and assumed that consumers would be left helpless after supplies were cut off without being able to find alternative routes.21 It was less straightforward than assumed to disrupt supply for a long period.

These effects will be all the more pronounced as people continue to concentrate in climate-vulnerable locations, such as coastal areas, water-stressed regions, and ever-growing cities. As examples it cited how the terrorist group al-Shabaab exploited the 2011–13 famine in Somalia to coerce and tax international aid agencies, while insurgent groups in northern Mali used deepening desertification to enlist local people in a ‘food for jihad’ arrangement.31 As with energy security there was a presumption that issues of environmental security were unavoidable and were bound to intense disputes between communities and even states. This presumption was criticised as being too deterministic, not allowing for ways by which human ingenuity and economic incentives would lead to new ways of managing resources. A definite trend would have been evident in rising raw material prices, yet these had often fallen.


pages: 212 words: 68,690

Independent Diplomat: Dispatches From an Unaccountable Elite by Carne Ross

barriers to entry, cuban missile crisis, Doha Development Round, energy security, Francis Fukuyama: the end of history, income inequality, iterative process, meta analysis, meta-analysis, one-China policy, Peace of Westphalia, Pearl River Delta, stakhanovite, Thomas Kuhn: the structure of scientific revolutions, zero-sum game

The prospect of Iraq’s huge reserves (the second largest in the world) hung in the air throughout the policy deliberations in the years before the war. It was well-known that Saddam Hussein had allocated all the massively lucrative post-sanctions exploration contracts to French, Chinese, Russian and other non-US and non-British companies (and it bothered the companies a lot, as they would tell us). It is hard to believe that the immense potential for money-making and energy security did not exert some pull in the decision to invade, but the evidence for some sort of conspiracy led by Big Oil is hard to come by. But again, we do not know, because we have not been told. Instead we were given not the “noble lie”, but the somewhat less-than-noble half-truth. The full answer will perhaps be revealed by the chief protagonists in years to come. For now, all we can know for sure is that the empirical reasons these governments have given so far simply do not add up.


pages: 281 words: 69,107

Belt and Road: A Chinese World Order by Bruno Maçães

active measures, Admiral Zheng, autonomous vehicles, Branko Milanovic, BRICs, cloud computing, deindustrialization, demographic dividend, Deng Xiaoping, different worldview, Donald Trump, energy security, European colonialism, eurozone crisis, Francis Fukuyama: the end of history, global supply chain, global value chain, industrial cluster, industrial robot, Internet of things, Kenneth Rogoff, land reform, liberal world order, Malacca Straits, one-China policy, Pearl River Delta, smart cities, South China Sea, sovereign wealth fund, special economic zone, trade liberalization, trade route, zero-sum game

We would like it to link to our maritime policy, of a global maritime fulcrum.” Addressing a Delhi audience, Luhut suggested that the port of Sabang at the westernmost point of Indonesia and just 700 km from Indian territory could be leased to India. China’s acknowledgement of Sabang’s strategic value was reflected in a Global Times editorial, which reiterated the significance of the Malacca Strait to China’s “economic and energy security” and warned of “disastrous consequences” if India develops Sabang into a strategic base. “If India really seeks military access to the strategic island of Sabang, it might wrongfully entrap itself into a strategic competition with China and eventually burn its own fingers. A misconception by India in terms of outbound investment is that it always sees China as a rival that it pits itself against.


pages: 264 words: 71,821

How Bad Are Bananas?: The Carbon Footprint of Everything by Mike Berners-Lee

air freight, carbon footprint, en.wikipedia.org, energy security, food miles, Intergovernmental Panel on Climate Change (IPCC), Richard Feynman, ride hailing / ride sharing, Skype, sustainable-tourism, University of East Anglia

The figures do not include international aviation and shipping. For the U.K. that would add about 10 percent. 14. T. Jackson (2009), Prosperity without Growth: Economics for a Finite Planet. Earthscan, London. A recommended read. 15. Kilotons of TNT equivalent. 16. Duncan Clark in www.guardian.co.uk, “The carbon footprint of nuclear war” (2 January 2009), drawn from M.Z. Jacobson (2009), “Review of solutions to global warming, air pollution, and energy security,” Energy Envir Sci 2, 148–173, DOI:10.1039/b809990c (first published as an Advance Article on the web on 1 December 2008: www.stanford.edu/group/efmh/jacobson/pdf%20files/ReviewSolgw09.pdf). 17. The Three Trillion Dollar War by Joseph Stiglitz, a Colombia University professor who won the Nobel Prize for Economics in 2001, and Linda Bilmes. See www.democracynow.org/2008/2/29/exclusive_the_three_trillion_dollar_war. 18.


pages: 288 words: 76,343

The Plundered Planet: Why We Must--And How We Can--Manage Nature for Global Prosperity by Paul Collier

agricultural Revolution, Berlin Wall, business climate, Doha Development Round, energy security, food miles, G4S, information asymmetry, Kenneth Arrow, megacity, new economy, offshore financial centre, oil shock, profit maximization, rent-seeking, Ronald Coase, Scramble for Africa, sovereign wealth fund, stem cell, Stewart Brand

The romantics prefer wind power, tidal power, and solar power, all of which are readily intelligible to ordinary citizens; nuclear power harnesses forces of nature only intelligible to a scientific elite. Unfortunately, however, wind, wave, and sun power are not yet scalable in the way that nuclear power is scalable. By far the most carbon-efficient advanced economy is France, which, following the oil shock of 1974, decided to achieve energy security by investing in nuclear power. France was able to do this because whereas elsewhere the political left was hostile to nuclear energy, in France it was nationalistic and so supported the idea of independence from imported oil. Wind, wave, and solar power may eventually become scalable (provided enough money is put into research), but for the moment pragmatists such as Stewart Brand, one of the pioneers of the environmental movement, have accepted that nuclear power is an essential part of the battle to contain global warming.


pages: 293 words: 74,709

Bomb Scare by Joseph Cirincione

Albert Einstein, cuban missile crisis, Dissolution of the Soviet Union, energy security, Ernest Rutherford, Mahatma Gandhi, Mikhail Gorbachev, Nelson Mandela, Ronald Reagan, uranium enrichment, Yogi Berra

A first step to building the needed consensus could be a new international arrangement that would guarantee fuel cycle services (supply and disposal of fuel) to states that do not possess domestic capabilities. Such a mechanism would have to provide a credible international guarantee of fresh reactor fuel and removal of spent fuel at prices that offer an economic incentive to the recipient state. Such an arrangement would reduce, if not eliminate, the economic or energy security justification for states to pursue their own fuel cycle facilities, and in so doing would test states’ commitment to a non-weapons path. States that turn down reliable and economically attractive alternatives to costly new production facilities would engender suspicion of their intentions, inviting sanctions and other international pressures. The EU proposed such an arrangement as part of the solution to the Iranian crisis.


pages: 258 words: 77,601

Everything Under the Sun: Toward a Brighter Future on a Small Blue Planet by Ian Hanington

agricultural Revolution, Albert Einstein, Bretton Woods, carbon footprint, clean water, Climategate, Climatic Research Unit, energy security, Enrique Peñalosa, Exxon Valdez, Google Earth, happiness index / gross national happiness, Hedy Lamarr / George Antheil, hydraulic fracturing, Intergovernmental Panel on Climate Change (IPCC), oil shale / tar sands, stem cell, sustainable-tourism, the scientific method, University of East Anglia, urban planning, urban sprawl

Oil companies are also gearing up to drill in Arctic waters, and the B.C. government has been putting pressure on the federal government to lift bans on drilling and oil tanker traffic off the west coast. These spills are just a visual reminder of the damage that our fossil-fuel addiction wreaks on the environment every day. After all, if the oil weren’t being spilled, it would eventually be burned, spewing carbon emissions into the atmosphere. Environmental havoc is only one reason to conserve energy and switch to cleaner energy. Security is also a crucial issue when it comes to global oil supplies. From the costly war in Iraq to the instability of some of the main oil-producing countries, we’re seeing increasing problems with our reliance on this increasingly scarce energy resource. We don’t seem to be good at learning from the past. No matter what the technology or energy source, whether it’s fossil fuels or nuclear power, we must be prepared for the worst-case scenario before we proceed.


pages: 251 words: 76,868

How to Run the World: Charting a Course to the Next Renaissance by Parag Khanna

Albert Einstein, Asian financial crisis, back-to-the-land, bank run, blood diamonds, Bob Geldof, borderless world, BRICs, British Empire, call centre, carbon footprint, charter city, clean water, cleantech, cloud computing, commoditize, continuation of politics by other means, corporate governance, corporate social responsibility, Deng Xiaoping, Doha Development Round, don't be evil, double entry bookkeeping, energy security, European colonialism, facts on the ground, failed state, friendly fire, global village, Google Earth, high net worth, index fund, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Kickstarter, laissez-faire capitalism, Live Aid, Masdar, mass immigration, megacity, microcredit, mutually assured destruction, Naomi Klein, Nelson Mandela, New Urbanism, off grid, offshore financial centre, oil shock, open economy, out of africa, Parag Khanna, private military company, Productivity paradox, race to the bottom, RAND corporation, reserve currency, Silicon Valley, smart grid, South China Sea, sovereign wealth fund, special economic zone, sustainable-tourism, The Fortune at the Bottom of the Pyramid, The Wisdom of Crowds, too big to fail, trade liberalization, trickle-down economics, UNCLOS, uranium enrichment, Washington Consensus, X Prize

Russia would then levy an export tax that it would use to enhance Eurasian oil and gas pipelines and power grids. China’s payback of the fuel subsidy would be directed toward investments in alternative energy technologies. UN veterans should be jealous. Students at the AID simulation are learning a far more accurate picture of the twenty-first-century landscape of power and influence than many diplomatic trainees today. Their role-playing exercise wasn’t the “real” world, and yet it was: Energy security and climate change are two sides of the same coin, not parallel conversations in bureaucratic silos. Seth Green, one of AID’s founders, realized early on that young change makers are inspired by alternatives to the UN system: “By playing not just Gordon Brown but also Bill Gates, students take on roles that allow them to navigate a much more complex world.” The bottom line, says Kate Willard, another AID leader, is that “there are far more players working on far more levels of global policy than any single organization can reflect.”


pages: 233 words: 73,772

The Secret World of Oil by Ken Silverstein

business intelligence, clean water, corporate governance, corporate raider, Donald Trump, energy security, Exxon Valdez, failed state, Google Earth, offshore financial centre, oil shock, paper trading, rolodex, Ronald Reagan, WikiLeaks, Yom Kippur War

Political turmoil in the Middle East indirectly aided the oil industry’s overtures on Obiang’s behalf, as did Africa’s broader role as a growing oil exporter to the US. By 2000, the United States was already buying 15 percent of its oil imports from Africa, with Nigeria and Angola the two biggest individual suppliers and Equatorial Guinea poised to grow quickly. “Sub-Saharan Africa is an area of US vital interest, and is also of increasing strategic importance to the United States as it applies to American energy security needs,” Paul Michael Wihbey, then of the Institute for Advanced Strategic and Political Studies, told a congressional subcommittee in March of 2000.6 The September 11 attacks the following year led national security planners to call for greater diversification of imports away from the Middle East, especially toward non-OPEC suppliers in Africa and Central Asia. This was also a theme emphasized by the industry itself in seeking to build support for new alliances with dodgy regimes like Equatorial Guinea.


pages: 262 words: 83,548

The End of Growth by Jeff Rubin

Ayatollah Khomeini, Bakken shale, banking crisis, Berlin Wall, British Empire, business cycle, call centre, carbon footprint, collateralized debt obligation, collective bargaining, Credit Default Swap, credit default swaps / collateralized debt obligations, decarbonisation, deglobalization, energy security, eurozone crisis, Exxon Valdez, Fall of the Berlin Wall, fiat currency, flex fuel, full employment, ghettoisation, global supply chain, Hans Island, happiness index / gross national happiness, housing crisis, hydraulic fracturing, illegal immigration, income per capita, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, Kickstarter, McMansion, Monroe Doctrine, moral hazard, new economy, Occupy movement, oil shale / tar sands, oil shock, peak oil, Ponzi scheme, quantitative easing, race to the bottom, reserve currency, Ronald Reagan, South China Sea, sovereign wealth fund, The Chicago School, The Death and Life of Great American Cities, Thomas Malthus, Thorstein Veblen, too big to fail, uranium enrichment, urban planning, urban sprawl, women in the workforce, working poor, Yom Kippur War, zero-sum game

this page: The US Energy Information Agency (EIA—not to be confused with the IEA, the International Energy Agency) identifies seven global oil transit choke points: the Strait of Hormuz, the Strait of Malacca, the Suez Canal, the Strait of Bab el Mandeb, the Turkish Straits (comprising the Bosporus and the Dardanelles), the Panama Canal and the Danish Straits. These narrow channels are part of shipping routes considered critical to global energy security. The Strait of Hormuz is the most important of these waterways. In 2011, roughly 35 percent of all seaborne-traded oil passed through the Strait, or nearly a fifth of the oil traded globally (www.eia.gov/cabs/world_oil_transit_chokepoints/full.html). this page: OPEC’s Middle Eastern members are Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates. The twelve-member group is rounded out by Algeria, Angola, Ecuador, Nigeria and Venezuela.


pages: 362 words: 83,464

The New Class Conflict by Joel Kotkin

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, affirmative action, Affordable Care Act / Obamacare, American Society of Civil Engineers: Report Card, Bob Noyce, California gold rush, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, creative destruction, crony capitalism, David Graeber, deindustrialization, don't be evil, Downton Abbey, Edward Glaeser, Elon Musk, energy security, falling living standards, future of work, Gini coefficient, Google bus, housing crisis, income inequality, informal economy, Internet of things, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John von Neumann, Joseph Schumpeter, Kevin Kelly, labor-force participation, low-wage service sector, Marc Andreessen, Mark Zuckerberg, mass affluent, McJob, McMansion, medical bankruptcy, Nate Silver, New Economic Geography, new economy, New Urbanism, obamacare, offshore financial centre, Paul Buchheit, payday loans, Peter Calthorpe, plutocrats, Plutocrats, post-industrial society, RAND corporation, Ray Kurzweil, rent control, rent-seeking, Report Card for America’s Infrastructure, Richard Florida, Silicon Valley, Silicon Valley ideology, Steve Jobs, technoutopianism, The Death and Life of Great American Cities, Thomas L Friedman, too big to fail, transcontinental railway, trickle-down economics, Tyler Cowen: Great Stagnation, upwardly mobile, urban planning, urban sprawl, War on Poverty, women in the workforce, working poor, young professional

Catherine Rampell, “The Return of China,” Economix (blog), New York Times, March 26, 2010, http://economix.blogs.nytimes.com/2010/03/26/the-return-of-china; UNIDO, “World Manufacturing Production: Statistics for Quarter I, 2013,” quarterly report, http://www.unido.org//fileadmin/user_media/Publications/Research_and_statistics/Branch_publications/Research_and_Policy/Files/Reports/World_Manufacturing_Production_Reports/STA_Report_on_Quarterly_production_2013Q1.pdf; John Boudreau, “Japan’s Once-Mighty Tech Industry Has Flagged,” Phys.org, October 19, 2012, http://phys.org/news/2012-10-japan-once-mighty-tech-industry-flagged.html. 24. Liam Pleven and Russell Gold, “U.S. Nears Milestone: Net Fuel Exporter,” Wall Street Journal, November 30, 2011; Daniel Yergin, “America’s New Energy Security,” Wall Street Journal, December 12, 2011; Vinod Dar, “World’s Largest Producer of Natural Gas? Now It’s the U.S.,” SeekingAlpha.com, January 13, 2010; and Robert Bryce, “America Needs the Shale Revolution,” Wall Street Journal, June 13, 2011. 25. Molly Ryan, “Siemens CEO Emphasizes ‘Tectonic Shift’ in U.S. Energy, Manufacturing Opportunities,” March 5, 2014, Houston Business Journal; Harold Meyerson, “The U.S.: Where Europe Comes to Slum,” Los Angeles Times, May 15, 2011; Justin Lahart and Liam Denning, “Pumping Up the U.S.


pages: 286 words: 82,970

A World in Disarray: American Foreign Policy and the Crisis of the Old Order by Richard Haass

access to a mobile phone, anti-communist, Berlin Wall, Bretton Woods, carbon footprint, central bank independence, colonial rule, cuban missile crisis, currency manipulation / currency intervention, deindustrialization, Doha Development Round, Donald Trump, Edward Snowden, energy security, European colonialism, failed state, Fall of the Berlin Wall, floating exchange rates, global pandemic, global reserve currency, hiring and firing, immigration reform, invisible hand, Mikhail Gorbachev, Monroe Doctrine, moral hazard, mutually assured destruction, open economy, quantitative easing, RAND corporation, reserve currency, Ronald Reagan, South China Sea, special drawing rights, Steven Pinker, UNCLOS, UNCLOS, uranium enrichment, Yom Kippur War

Energy, though, is by no means the only continuing interest of the United States in the Middle East. Another is the well-being of Israel. There has long been a debate as to whether this is rooted in history or morality or strategy, and the only honest answer is all of the above. A third set of interests is the well-being and orientation of countries long friendly to the United States, whether for reasons of regional stability, counterterrorism, nonproliferation, energy security, a willingness to live in peace with Israel, humanitarian considerations, or some combination thereof. This may mean on occasion countering what Iran or Russia does, but such a calculation should be made on a situation-by-situation basis, as the possibility of selective cooperation with either should not be ruled out. So what to do? There can be no single or overriding approach to the Middle East, as there is no common threat to order.


Green Economics: An Introduction to Theory, Policy and Practice by Molly Scott Cato

Albert Einstein, back-to-the-land, banking crisis, banks create money, basic income, Bretton Woods, Buy land – they’re not making it any more, carbon footprint, central bank independence, clean water, Community Supported Agriculture, congestion charging, corporate social responsibility, David Ricardo: comparative advantage, deskilling, energy security, food miles, Food sovereignty, Fractional reserve banking, full employment, gender pay gap, income inequality, informal economy, Intergovernmental Panel on Climate Change (IPCC), job satisfaction, land reform, land value tax, Mahatma Gandhi, market fundamentalism, mortgage debt, passive income, peak oil, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, reserve currency, the built environment, The Spirit Level, Tobin tax, University of East Anglia, wikimedia commons

Hines (2005) ‘Making poverty inevitable’, Sustainable Economics, 13/2, www.sustecweb.co.uk. 18 EU (2005) Draft Report on Prospects for Trade Relations between the EU and China, Committee on International Trade, Rapporteur: Caroline Lucas. 19 Lines, Making Poverty. 9 Relocalizing Economic Relationships Such a vision offers greater community and personal satisfaction: a world where conviviality replaces consumption, where local identity replaces global trade, and where community spirit replaces brand loyalty. Lord Beaumont of Whitley, speaking in the House of Lords For a couple of decades the proponents of globalization have been winning the ideological battle, in spite of strong and growing opposition and proposals for more humane ways of organizing international economic relationships, as outlined in the previous chapter. During this time the few green economists calling for local food and energy security, or protection of local economies and communities, have seemed like voices in the wilderness. Yet, partly as a result of the imminence of climate change and increasing oil prices, putting all our eggs in the globalization basket has begun to seem rather a risky strategy. Put this together with the recognition that globalization means vastly more carbonintensive transport of people and goods and localization begins to be an increasingly popular strategy.


The Oil Kings: How the U.S., Iran, and Saudi Arabia Changed the Balance of Power in the Middle East by Andrew Scott Cooper

addicted to oil, anti-communist, Ayatollah Khomeini, banking crisis, Boycotts of Israel, energy security, falling living standards, friendly fire, full employment, interchangeable parts, Kickstarter, land reform, MITM: man-in-the-middle, oil shale / tar sands, oil shock, peak oil, Ponzi scheme, RAND corporation, rising living standards, Robert Bork, rolodex, Ronald Reagan, strikebreaker, unbiased observer, uranium enrichment, urban planning, Yom Kippur War

Shultz, a no less confused amateur economist; I, the only one there with any knowledge of the subject, but even I not a real expert on some aspects of the intricate international problem! What a way to reach decisions! No one from the State Department there, no technical experts to aid us!” Nixon was convinced that his national security adviser lacked the expertise to grapple with oil policy and energy security. When the president hired Peter Peterson as his special assistant for international economics he warned him that economics was “a field Kissinger knew nothing about,” and the two advisers repeatedly clashed over policy. “Peterson, that’s just a minor economic consideration,” Kissinger lectured his colleague on one occasion, to which Peterson replied, “Henry, for you that’s a redundancy because you see every economic consideration as minor.”

Whereas Nixon had enjoyed a long-term working relationship with the Shah and relished their exchanges and deal making, in his first months in office Ford lacked the requisite knowledge to ask Kissinger and his other advisers the right questions about geopolitics, strategy, and foreign economic policy. Ford kept Bill Simon on at Treasury because he appreciated his fiscal conservatism. These two reappointments ensured the carryover into his own administration of the disagreement over whether the key to America’s energy security and future oil needs ran through Iran or Saudi Arabia. President Ford’s first briefing on oil, OPEC, and the Shah came on Saturday morning, August 17. A transcript of their conversation shows Kissinger anxious to deflect blame for the oil shock away from the Shah and onto the Saudis and the rest of the OPEC cartel. He did not explain to the new president that he and Nixon had approved previous oil price increases to pay for the Shah’s military buildup.


pages: 309 words: 96,434

Ground Control: Fear and Happiness in the Twenty First Century City by Anna Minton

Albert Einstein, Berlin Wall, Big bang: deregulation of the City of London, Boris Johnson, Broken windows theory, call centre, crack epidemic, credit crunch, deindustrialization, East Village, energy security, Francis Fukuyama: the end of history, ghettoisation, hiring and firing, housing crisis, illegal immigration, invisible hand, Jane Jacobs, Jaron Lanier, Kickstarter, moral panic, new economy, New Urbanism, race to the bottom, rent control, Richard Florida, Right to Buy, Silicon Valley, Steven Pinker, the built environment, The Death and Life of Great American Cities, The Spirit Level, trickle-down economics, University of East Anglia, urban decay, urban renewal, white flight, white picket fence, World Values Survey, young professional

WOLFE, The Viral Storm: The Dawn of a New Pandemic Age NORMAN DAVIES, Vanished Kingdoms: The History of Half-Forgotten Europe MICHAEL LEWIS, Boomerang: The Meltdown Tour STEVEN PINKER, The Better Angels of Our Nature: The Decline of Violence in History and Its Causes ROBERT TRIVERS, Deceit and Self-Deception: Fooling Yourself the Better to Fool Others THOMAS PENN, Winter King: The Dawn of Tudor England DANIEL YERGIN, The Quest: Energy, Security and the Remaking of the Modern World MICHAEL MOORE, Here Comes Trouble: Stories from My Life ALI SOUFAN, The Black Banners: Inside the Hunt for Al Qaeda JASON BURKE, The 9/11 Wars TIMOTHY D. WILSON, Redirect: The Surprising New Science of Psychological Change IAN KERSHAW, The End: Hitler's Germany, 1944-45 T M DEVINE, To the Ends of the Earth: Scotland's Global Diaspora, 1750-2010 CATHERINE HAKIM, Honey Money: The Power of Erotic Capital DOUGLAS EDWARDS, I'm Feeling Lucky: The Confessions of Google Employee Number 59 JOHN BRADSHAW, In Defence of Dogs CHRIS STRINGER, The Origin of Our Species LILA AZAM ZANGANEH, The Enchanter: Nabokov and Happiness DAVID STEVENSON, With Our Backs to the Wall: Victory and Defeat in 1918 EVELYN JUERS, House of Exile: War, Love and Literature, from Berlin to Los Angeles HENRY KISSINGER, On China MICHIO KAKU, Physics of the Future: How Science Will Shape Human Destiny and Our Daily Lives by the Year 2100 DAVID ABULAFIA, The Great Sea: A Human History of the Mediterranean JOHN GRIBBIN, The Reason Why: The Miracle of Life on Earth ANATOL LIEVEN, Pakistan: A Hard Country WILLIAM D COHAN, Money and Power: How Goldman Sachs Came to Rule the World JOSHUA FOER, Moonwalking with Einstein: The Art and Science of Remembering Everything SIMON BARON-COHEN, Zero Degrees of Empathy: A New Theory of Human Cruelty MANNING MARABLE, Malcolm X: A Life of Reinvention DAVID DEUTSCH, The Beginning of Infinity: Explanations that Transform the World DAVID EDGERTON, Britain's War Machine: Weapons, Resources and Experts in the Second World War JOHN KASARDA AND GREG LINDSAY, Aerotropolis: The Way We’ll Live Next DAVID GILMOUR, The Pursuit of Italy: A History of a Land, its Regions and their Peoples NIALL FERGUSON, Civilization: The West and the Rest TIM FLANNERY, Here on Earth: A New Beginning ROBERT BICKERS, The Scramble for China: Foreign Devils in the Qing Empire, 1832-1914 MARK MALLOCH-BROWN, The Unfinished Global Revolution: The Limits of Nations and the Pursuit of a New Politics KING ABDULLAH OF JORDAN, Our Last Best Chance: The Pursuit of Peace in a Time of Peril ELIZA GRISWOLD The Tenth Parallel: Dispatches from the Faultline between Christianity and Islam BRIAN GREENE, The Hidden Reality: Parallel Universes and the Deep Laws of the Cosmos JOHN GRAY, The Immortalization Commission: The Strange Quest to Cheat Death, PATRICK FRENCH, India: A Portrait LIZZIE COLLINGHAM, The Taste of War: World War Two and the Battle for Food HOOMAN MAJD, The Ayatollahs' Democracy: An Iranian Challenge DAMBISA MOYO, How The West Was Lost: Fifty Years of Economic Folly - And the Stark Choices Ahead EVGENY MOROZOV, The Net Delusion: How Not to Liberate the World RON CHERNOW, Washington: A Life NASSIM NICHOLAS TALEB, The Bed of Procrustes: Philosophical and Practical Aphorisms HUGH THOMAS, The Golden Age: The Spanish Empire of Charles V AMANDA FOREMAN, A World on Fire: An Epic History of Two Nations Divided NICHOLAS OSTLER, The Last Lingua Franca: English until the Return of Babel RICHARD MILES, Ancient Worlds: The Search for the Origins of Western Civilization NEIL MACGREGOR, A History of the World in 100 Objects STEVEN JOHNSON, Where Good Ideas Come From: The Natural History of Innovation DOMINIC SANDBROOK, State of Emergency: The Way We Were: Britain, 1970-1974 JIM AL-KHALILI, Pathfinders: The Golden Age of Arabic Science HA-JOON CHANG, 23 Things They Don't Tell You About Capitalism ROBIN FLEMING, Britain After Rome: The Fall and Rise, 400 to 1070 TARIQ RAMADAN, The Quest for Meaning: Developing a Philosophy of Pluralism JOYCE TYLDESLEY, The Penguin Book of Myths and Legends of Ancient Egypt NICHOLAS PHILLIPSON, Adam Smith: An Enlightened Life PAUL GREENBERG, Four Fish: A Journey from the Ocean to Your Plate CLAY SHIRKY, Cognitive Surplus: Creativity and Generosity in a Connected Age ANDREW GRAHAM-DIXON, Caravaggio: A Life Sacred and Profane NIALL FERGUSON, High Financier: The Lives and Time of Siegmund Warburg SEAN MCMEEKIN: The Berlin-Baghdad Express: The Ottoman Empire and Germany's Bid for World Power, 1898-1918 RICHARD MCGREGOR, The Party: The Secret World of China's Communist Rulers SPENCER WELLS, Pandora's Seed: The Unforeseen Cost of Civilization FRANCIS PRYOR, The Making of the British Landscape: How We Have Transformed the Land, from Prehistory to Today RUTH HARRIS, The Man on Devil's Island: Alfred Dreyfus and the Affair that Divided France MICHAEL HUNT ed., A Vietnam War Reader: American and Vietnamese Perspectives PAUL COLLIER, The Plundered Planet: How to Reconcile Prosperity With Nature NORMAN STONE, The Atlantic and Its Enemies: A History of the Cold War SIMON PRICE AND PETER THONEMANN, The Birth of Classical Europe: A History from Troy to Augustine HAMPTON SIDES, Hellhound on his Trail: The Stalking of Martin Luther King, Jr. and the International Hunt for His Assassin JACKIE WULLSCHLAGER, Chagall: Love and Exile RICHARD MILES, Carthage Must be Destroyed: The Rise and Fall of an Ancient Civilization TONY JUDT, Ill Fares The Land: A Treatise On Our Present Discontents MICHAEL LEWIS, The Big Short: Inside the Doomsday Machine OLIVER BULLOUGH, Let Our Fame Be Great: Journeys among the Defiant People of the Caucasus PAUL DAVIES, The Eerie Silence: Searching for Ourselves in the Universe RICHARD WILKINSON, KATE PICKETT, The Spirit Level: Why Equality is Better for Everyone TOM BINGHAM, The Rule of Law JOSEPH STIGLITZ, Freefall: Free Markets and the Sinking of the Global Economy JOHN LANCHESTER, Whoops!


pages: 297 words: 95,518

Ten Technologies to Save the Planet: Energy Options for a Low-Carbon Future by Chris Goodall

barriers to entry, carbon footprint, congestion charging, decarbonisation, energy security, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Kickstarter, land tenure, load shedding, New Urbanism, oil shock, profit maximization, Silicon Valley, smart grid, smart meter, statistical model, undersea cable

Even the global warming pessimists should recognize that the world’s entrepreneurs, venture capitalists, and scientists are devoting unprecedented amounts of ingenuity and hard work to the greatest challenge of our age. This is a global effort, and the following pages look at people and companies in places as diverse as Canada, China, the U.S., Ireland, Spain, Korea, Britain, India, and Australia. If the world fails to solve its climate change and energy security problems, it won’t be because these individuals didn’t try hard enough. THE SECOND GLASS PROBLEM When speaking in public, almost all specialists engaged in the climate change debate offer a positive and hopeful view of the world’s ability to tackle global warming. They know that if they say that the situation is too awful and frightening, they will lose the audience’s sympathy. Speakers have to be relentlessly upbeat, stressing the capacity of the world to reduce its use of fossil fuels while still improving prosperity around the globe.


There Is No Planet B: A Handbook for the Make or Break Years by Mike Berners-Lee

air freight, autonomous vehicles, call centre, carbon footprint, cloud computing, dematerialisation, Elon Musk, energy security, energy transition, food miles, Gini coefficient, global supply chain, global village, Hans Rosling, income inequality, Intergovernmental Panel on Climate Change (IPCC), land reform, neoliberal agenda, off grid, performance metric, profit motive, shareholder value, Silicon Valley, smart cities, Stephen Hawking, The Spirit Level, The Wealth of Nations by Adam Smith, trickle-down economics, urban planning

This skill compels our media and our politicians to raise their game1. (7) Complex and complicated thinking. Because we have created an ever more complicated AND complex world, our capacity for this kind of thinking simply has to rise in step with it. We’ve touched on the spiralling complexities of sorting out the energy mix in even one country. We have seen that neither climate change, nor energy security, nor feeding the world, nor any of the other presenting physical challenges can be tackled in isolation. We need to get our heads around the interdependencies at the same time as dealing with the growing technical challenges that lie within each small part of the puzzle. (8) Joined-up perspective. If only technology, or natural science, or sociology, or philosophy, or theology, or politics or art or literature alone could deal with the Anthropocene.


pages: 382 words: 92,138

The Entrepreneurial State: Debunking Public vs. Private Sector Myths by Mariana Mazzucato

"Robert Solow", Apple II, banking crisis, barriers to entry, Bretton Woods, business cycle, California gold rush, call centre, carbon footprint, Carmen Reinhart, cleantech, computer age, creative destruction, credit crunch, David Ricardo: comparative advantage, demand response, deskilling, endogenous growth, energy security, energy transition, eurozone crisis, everywhere but in the productivity statistics, Financial Instability Hypothesis, full employment, G4S, Growth in a Time of Debt, Hyman Minsky, incomplete markets, information retrieval, intangible asset, invisible hand, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, knowledge economy, knowledge worker, natural language processing, new economy, offshore financial centre, Philip Mirowski, popular electronics, profit maximization, Ralph Nader, renewable energy credits, rent-seeking, ride hailing / ride sharing, risk tolerance, shareholder value, Silicon Valley, Silicon Valley ideology, smart grid, Steve Jobs, Steve Wozniak, The Wealth of Nations by Adam Smith, Tim Cook: Apple, too big to fail, total factor productivity, trickle-down economics, Washington Consensus, William Shockley: the traitorous eight

As such, the need for the agency as well as conflict over what is ‘too early’ will likely continue to be a subject of debate. It is also interesting to consider the degree to which the fact that DARPA operates under the banner of ‘national security’ rather than ‘economic performance’, contributes to the covering up of the State as a key economic actor. Maybe a ‘solution’ to ARPA-E is to operate under the banner of ‘energy security’. Like DARPA, ARPA-E doesn’t create its own research agenda; instead, it invites researchers from academia and industry to explore high-risk ideas, setting an agenda through collaboration and collective knowledge of the state-of-the-art and realm of possibilities. Project funding draws from government and business sources, indicating that its R&D agenda attracts funding from multiple stakeholders (Hourihan and Stepp 2011).


pages: 358 words: 93,969

Climate Change by Joseph Romm

carbon footprint, Climatic Research Unit, decarbonisation, demand response, Douglas Hofstadter, Elon Musk, energy security, energy transition, failed state, hydraulic fracturing, hydrogen economy, Intergovernmental Panel on Climate Change (IPCC), knowledge worker, mass immigration, performance metric, renewable energy transition, ride hailing / ride sharing, Ronald Reagan, Silicon Valley, Silicon Valley startup, the scientific method

In November 2014, the International Energy Agency released its “Energy Efficiency Market Report 2014.” The report found “The global energy efficiency market is worth at least USD 310 billion a year and growing.” The IEA’s Executive Director Maria van der Hoeven summarized the core findings: “Energy efficiency is the invisible powerhouse in IEA countries and beyond, working behind the scenes to improve our energy security, lower our energy bills and move us closer to reaching our climate goals.” The IEA explains that “in the IEA scenario consistent with limiting the long-term increase in global temperatures to no more than 2 degrees Celsius, the biggest share of emissions reductions—40%—comes from energy efficiency.” The report itself provides data “confirming energy efficiency’s place as the ‘first fuel’.” In 15 years of experience working with businesses—at the U.S.


pages: 879 words: 233,093

The Empathic Civilization: The Race to Global Consciousness in a World in Crisis by Jeremy Rifkin

agricultural Revolution, Albert Einstein, animal electricity, back-to-the-land, British Empire, carbon footprint, collaborative economy, death of newspapers, delayed gratification, distributed generation, en.wikipedia.org, energy security, feminist movement, global village, hedonic treadmill, hydrogen economy, illegal immigration, income inequality, income per capita, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of movable type, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, Mahatma Gandhi, Marshall McLuhan, means of production, megacity, meta analysis, meta-analysis, Milgram experiment, Nelson Mandela, new economy, New Urbanism, Norbert Wiener, off grid, out of africa, Peace of Westphalia, peak oil, peer-to-peer, planetary scale, scientific worldview, Simon Kuznets, Skype, smart grid, smart meter, social intelligence, supply-chain management, surplus humans, the medium is the message, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, transaction costs, upwardly mobile, uranium enrichment, working poor, World Values Survey

The public dole had also grown considerably during the heyday of expansion and now had to be maintained with declining revenues. During the reign of Julius Caesar, nearly a third of the citizens of Rome were receiving some form of public assistance.75 The sheer logistical weight of maintaining a vast empire became increasingly costly. Garrisoning troops throughout the Mediterranean and Europe, maintaining roads, and administering annexed territories consumed more and more energy, while the net return in energy secured from the territories steadily dropped. Marginal returns had set in. In some instances, it cost Rome more money to manage certain colonies—Spain and England, for example—than revenue generated.76 No longer able to maintain its empire by new conquests and plunder, Rome was forced to look to the only other energy regime available to it: agriculture. The story of Rome’s gradual decline is intricately bound up with the waning fortunes of its agriculture production.

Entrepreneurs and managers will need to be educated to take advantage of cutting-edge business models, including open-source and networked commerce, performance contracting, distributed and collaborative research and development strategies, and sustainable low-carbon logistics and supply-chain management. The skill levels and managerial styles of the Third Industrial Revolution workforce will be qualitatively different from those of the workforce of the Second Industrial Revolution. A fully integrated intelligent intergrid allows each country to both produce its own energy and share any surpluses with neighboring countries in a “network” approach to assuring global energy security. When any given region enjoys a temporary surge or surplus in its renewable energy, that energy can be shared with regions that are facing a temporary lull or deficit. The Third Industrial Revolution leads to a new social vision where power itself is broadly distributed, encouraging unprecedented new levels of collaboration among peoples and nations. Just as the distributed communications revolution of the last decade spawned network ways of thinking, open-source sharing, and the democratization of communications, the Third Industrial Revolution follows suit with the democratization of energy.


pages: 337 words: 103,273

The Great Disruption: Why the Climate Crisis Will Bring on the End of Shopping and the Birth of a New World by Paul Gilding

airport security, Albert Einstein, Bob Geldof, BRICs, carbon footprint, clean water, cleantech, Climategate, commoditize, corporate social responsibility, creative destruction, decarbonisation, energy security, Exxon Valdez, failed state, fear of failure, income inequality, Intergovernmental Panel on Climate Change (IPCC), Joseph Schumpeter, market fundamentalism, mass immigration, Naomi Klein, Nelson Mandela, new economy, nuclear winter, oil shock, peak oil, Ponzi scheme, purchasing power parity, Ronald Reagan, shareholder value, The Spirit Level, The Wealth of Nations by Adam Smith, union organizing, University of East Anglia

We think we live in scarcity and as a result often act from a place of fear. The truth is very different. We live on an abundant planet and our future progress is now only constrained by our thinking. There is further reinforcing logic at a system design level for solar and wind power. The fuel cost for generation is zero and the energy is available all over the planet, meaning all those imports and impacts on balance of payments are gone. This global energy security also largely eliminates a whole range of related geopolitical risks and the resulting military threats and instability, not to mention the enormous costs involved. The savings on offer are tangible and we don’t have to look hard to find real numbers. A fascinating peer reviewed study reported in the journal Foreign Policy pointed out that keeping aircraft carriers in the Persian Gulf from 1976 to 2007 cost over $7 trillion.


The New Harvest: Agricultural Innovation in Africa by Calestous Juma

agricultural Revolution, Albert Einstein, barriers to entry, bioinformatics, business climate, carbon footprint, clean water, colonial rule, conceptual framework, creative destruction, double helix, energy security, energy transition, global value chain, income per capita, industrial cluster, informal economy, Intergovernmental Panel on Climate Change (IPCC), Joseph Schumpeter, knowledge economy, land tenure, M-Pesa, microcredit, mobile money, non-tariff barriers, off grid, out of africa, precision agriculture, Second Machine Age, self-driving car, Silicon Valley, sovereign wealth fund, structural adjustment programs, supply-chain management, total factor productivity, undersea cable

Kenya Enabling Infrastructure 127 set itself apart in this context with the establishment of an independent regulator—the Electricity Regulatory Board—which has helped to significantly reduce power purchase agreement charges, to set tariffs, and to mediate the working relationship between the public and private sectors. Evidence suggests that if a regulator is established prior to negotiation of the IPP, and acts in a transparent, fair, and accountable manner, this office can have a significantly positive effect on the outcomes for the host country and investor. A coherent power sector plan follows from a strong policy framework and includes setting a reliability standard for energy security, supply and demand forecasts, a least-cost plan, and agreements on how new generation will be divided between public and private sectors. It is equally important that these functions are vested in one empowered agency. Failure to meet these goals is apparent in the examples of Tanzania (Songo Songo), Kenya (Westmont plant, Iberafrica plant), Nigeria (AES Barge), and Ghana, which fast-tracked IPPs to meet intermediate power shortages in the midst of drought conditions.


pages: 332 words: 100,601

Rebooting India: Realizing a Billion Aspirations by Nandan Nilekani

Airbnb, Atul Gawande, autonomous vehicles, barriers to entry, bitcoin, call centre, cashless society, clean water, cloud computing, collaborative consumption, congestion charging, DARPA: Urban Challenge, dematerialisation, demographic dividend, Edward Snowden, en.wikipedia.org, energy security, financial exclusion, Google Hangouts, illegal immigration, informal economy, Khan Academy, Kickstarter, knowledge economy, land reform, law of one price, M-Pesa, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, mobile money, Mohammed Bouazizi, more computing power than Apollo, Negawatt, Network effects, new economy, offshore financial centre, price mechanism, price stability, rent-seeking, RFID, Ronald Coase, school choice, school vouchers, self-driving car, sharing economy, Silicon Valley, Skype, smart grid, smart meter, software is eating the world, source of truth, Steve Jobs, The Nature of the Firm, transaction costs, WikiLeaks

Research from the International Monetary Fund (IMF) shows that most fuel subsidies are misdirected; only 7 per cent of the subsidies in poor countries go to the poorest 20 per cent of households, while the richest 20 per cent of society claim a disproportionate 43 per cent.19 Cutting these subsidies altogether would result in a worldwide savings of over $500 billion, accompanied by a 6 per cent drop in global carbon emissions by 2020.20 A further impetus to the scrapping of fuel subsidies came from the G20 Pittsburgh Summit.21 A declaration released by the G20 nations, a group which includes India, pledged to phase out ‘inefficient fossil fuel subsidies’, which ‘encourage wasteful consumption, reduce our energy security, impede investment in clean energy sources and undermine efforts to deal with the threat of climate change’. Technology as superglue: Mending a broken system The central government currently offers subsidies on over a dozen commodities, including everything from coal to car parts, to oil, jute and cattle fodder; state governments can and do add to that list. This bouquet of subsidies doesn’t come cheap; as per the 2014 Budget, the central government was projected to spend nearly Rs 4 trillion on subsidies, over 4 per cent of India’s GDP; in comparison, the country’s defence budget is around 2.5 per cent.22 That is a very heavy burden for an economy to bear.


pages: 299 words: 19,560

Utopias: A Brief History From Ancient Writings to Virtual Communities by Howard P. Segal

1960s counterculture, British Empire, Buckminster Fuller, complexity theory, David Brooks, death of newspapers, dematerialisation, deskilling, energy security, European colonialism, Francis Fukuyama: the end of history, full employment, future of journalism, G4S, garden city movement, germ theory of disease, Golden Gate Park, invention of the printing press, Isaac Newton, Jeff Bezos, John Markoff, John von Neumann, knowledge economy, liberation theology, Louis Pasteur, Mark Zuckerberg, mass immigration, means of production, Nelson Mandela, Nicholas Carr, Nikolai Kondratiev, out of africa, Ralph Waldo Emerson, Ray Kurzweil, Ronald Reagan, Silicon Valley, Skype, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, Stewart Brand, technoutopianism, Thomas Malthus, Thorstein Veblen, transcontinental railway, traveling salesman, union organizing, urban planning, War on Poverty, Whole Earth Catalog

Yet the NRC does not routinely require plants to review their seismic risks as they seek to renew their operating licenses for an additional twenty years.42 Nevertheless, twenty-one companies now expect to seek permission to build thirty-four new plants, ranging in location from New York to Texas to Idaho, and factories are being built in Indiana and Louisiana to manufacture plant parts. Much of the renewed interest derives from the Energy Policy Act of 2005, which “is stuffed with generous subsidies for nuclear power and other alternatives to fossil fuels.” As the head of General Electric, Jeffrey Immelt, has argued, “it’s hard to believe simultaneously in energy security and reduction of greenhouse gas emissions without believing in nuclear power.”43 Increasing numbers of environmentalists are conceding this point, among them the famous Stewart Brand, creator of The Whole Earth Catalog. Brand confessed to his traditional opponents: “I’m sorry. I was wrong, you were right. I’m sorry.” Brand has nevertheless maintained his utopian propensities despite this Utopia Reconsidered 153 change of heart and has embraced a decentralized corporate vision of information technologies and computer networks that nicely complements those of capitalist leaders such as Immelt.


The King of Oil by Daniel Ammann

accounting loophole / creative accounting, anti-communist, Ayatollah Khomeini, banking crisis, Berlin Wall, Boycotts of Israel, business intelligence, buy low sell high, energy security, family office, Johann Wolfgang von Goethe, Mikhail Gorbachev, Nelson Mandela, oil shock, peak oil, purchasing power parity, Ronald Reagan, trade liberalization, transaction costs, transfer pricing, Upton Sinclair, Yom Kippur War

It is this very instability which in the final analysis provides the raison d’être of trade,” says the French economics professor Philippe Chalmin, an expert in commodities markets with practical experience in the field.7 This ability to deal with instability and in turn secure a stable flow of oil was, ironically, also of use to the U.S. Department of Defense, which hired Marc Rich + Co. as a defense contractor. In July 1978 the DoD bought 45.6 million worth of oil from Marc Rich + Co. for the Strategic Petroleum Reserve, established after the oil shock of 1973, in order to guarantee the nation’s energy security. That was followed by a further 46.7 million worth of oil in August. Altogether these purchases amounted to approximately 7.1 million barrels of oil (1 million metric tons). The Secret of Trust The employees at Marc Rich + Co. soon enjoyed a reputation as young, aggressive traders. Rich cultivated a distinct meritocracy. In this respect he stuck to the tried-and-true tradition he had learned at Philipp Brothers.


pages: 378 words: 110,518

Postcapitalism: A Guide to Our Future by Paul Mason

Alfred Russel Wallace, bank run, banking crisis, banks create money, Basel III, basic income, Bernie Madoff, Bill Gates: Altair 8800, bitcoin, Branko Milanovic, Bretton Woods, BRICs, British Empire, business cycle, business process, butterfly effect, call centre, capital controls, Cesare Marchetti: Marchetti’s constant, Claude Shannon: information theory, collaborative economy, collective bargaining, Corn Laws, corporate social responsibility, creative destruction, credit crunch, currency manipulation / currency intervention, currency peg, David Graeber, deglobalization, deindustrialization, deskilling, discovery of the americas, Downton Abbey, drone strike, en.wikipedia.org, energy security, eurozone crisis, factory automation, financial repression, Firefox, Fractional reserve banking, Frederick Winslow Taylor, full employment, future of work, game design, income inequality, inflation targeting, informal economy, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kenneth Arrow, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, low skilled workers, market clearing, means of production, Metcalfe's law, microservices, money: store of value / unit of account / medium of exchange, mortgage debt, Network effects, new economy, Norbert Wiener, Occupy movement, oil shale / tar sands, oil shock, Paul Samuelson, payday loans, Pearl River Delta, post-industrial society, precariat, price mechanism, profit motive, quantitative easing, race to the bottom, RAND corporation, rent-seeking, reserve currency, RFID, Richard Stallman, Robert Gordon, Robert Metcalfe, secular stagnation, sharing economy, Stewart Brand, structural adjustment programs, supply-chain management, The Future of Employment, the scientific method, The Wealth of Nations by Adam Smith, Transnistria, union organizing, universal basic income, urban decay, urban planning, Vilfredo Pareto, wages for housework, WikiLeaks, women in the workforce

From social housing in cities blighted by speculative development to cycle lanes or healthcare provision, even the most progressive infrastructure designs are moulded around the interests of the rich – and assume the market will last for ever. As a result, infrastructure planning remains one of the disciplines least transformed by networked thinking. This needs to change. In addition, because of the global nature of the problems we face, the state has to ‘own’ the agenda for responses to the challenges of climate change, demographic ageing, energy security and migration. That is to say, whatever micro-level actions we take to alleviate these risks, only national governments and multilateral agreements can actually solve them. The most pressing issue, if states are to help drive the transition to a new economic system, is debt. In today’s world, developed countries are paralysed by the size of their debts. These are, as we saw in chapter 9, projected to become stratospheric as a result of ageing populations.


pages: 398 words: 105,917

Bean Counters: The Triumph of the Accountants and How They Broke Capitalism by Richard Brooks

accounting loophole / creative accounting, asset-backed security, banking crisis, Big bang: deregulation of the City of London, blockchain, BRICs, British Empire, business process, cloud computing, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, corporate raider, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, David Strachan, Deng Xiaoping, Donald Trump, double entry bookkeeping, Double Irish / Dutch Sandwich, energy security, Etonian, eurozone crisis, financial deregulation, forensic accounting, Frederick Winslow Taylor, G4S, intangible asset, Internet of things, James Watt: steam engine, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, light touch regulation, Long Term Capital Management, low cost airline, new economy, Northern Rock, offshore financial centre, oil shale / tar sands, On the Economy of Machinery and Manufactures, Ponzi scheme, post-oil, principal–agent problem, profit motive, race to the bottom, railway mania, regulatory arbitrage, risk/return, Ronald Reagan, savings glut, short selling, Silicon Valley, South Sea Bubble, statistical model, supply-chain management, The Chicago School, too big to fail, transaction costs, transfer pricing, Upton Sinclair, WikiLeaks

It will also commit the taxpayer to underwriting the consortium’s debts and, above a certain amount, the costs of dealing with the waste from what most nuclear experts consider an overpriced project based on flawed, out-of-date technology.52 Once the financial terms were agreed, the civil servant responsible for nuclear energy advice to government ministers, Simon Virley, left the government on a five-year ‘career break’ to become ‘head of power and utilities’ at none other than KPMG. The firm pronounced itself ‘delighted’ with its new man, trumpeting his experience with ‘overall responsibility for advice to the UK Government on renewables, nuclear, oil and gas, shale, carbon capture and storage, and UK energy security issues’.53 Needless to say, KPMG has a long roster of corporate clients in these areas, including the French company behind the Hinkley Point deal, EDF, and others that are standing by to capitalize on any nuclear building renaissance that it might mark. The Big Four firms can win such vast consultancy contracts, and sway major government decisions, precisely because of their size and all-encompassing ‘professional services’ proposition.


pages: 1,066 words: 273,703

Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze

Affordable Care Act / Obamacare, Apple's 1984 Super Bowl advert, Asian financial crisis, asset-backed security, bank run, banking crisis, Basel III, Berlin Wall, Bernie Sanders, Big bang: deregulation of the City of London, Boris Johnson, break the buck, Bretton Woods, BRICs, British Empire, business cycle, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Celtic Tiger, central bank independence, centre right, collateralized debt obligation, corporate governance, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, dark matter, deindustrialization, desegregation, Detroit bankruptcy, Dissolution of the Soviet Union, diversification, Doha Development Round, Donald Trump, Edward Glaeser, Edward Snowden, en.wikipedia.org, energy security, eurozone crisis, Fall of the Berlin Wall, family office, financial intermediation, fixed income, Flash crash, forward guidance, friendly fire, full employment, global reserve currency, global supply chain, global value chain, Goldman Sachs: Vampire Squid, Growth in a Time of Debt, housing crisis, Hyman Minsky, illegal immigration, immigration reform, income inequality, interest rate derivative, interest rate swap, Kenneth Rogoff, large denomination, light touch regulation, Long Term Capital Management, margin call, Martin Wolf, McMansion, Mexican peso crisis / tequila crisis, mittelstand, money market fund, moral hazard, mortgage debt, mutually assured destruction, negative equity, new economy, Northern Rock, obamacare, Occupy movement, offshore financial centre, oil shale / tar sands, old-boy network, open economy, paradox of thrift, Peter Thiel, Ponzi scheme, predatory finance, price stability, private sector deleveraging, purchasing power parity, quantitative easing, race to the bottom, reserve currency, risk tolerance, Ronald Reagan, savings glut, secular stagnation, Silicon Valley, South China Sea, sovereign wealth fund, special drawing rights, structural adjustment programs, The Great Moderation, Tim Cook: Apple, too big to fail, trade liberalization, upwardly mobile, Washington Consensus, We are the 99%, white flight, WikiLeaks, women in the workforce, Works Progress Administration, yield curve, éminence grise

When Germany and Russia signed the first Nord Stream pipeline deal in 2005, enormously increasing the flow of Gazprom’s gas to the West, it was denounced by Poland’s foreign minister as a second coming of the Hitler-Stalin Pact that had sealed Poland’s fate in 1939. When Moscow tweaked Ukraine’s gas prices over the winter of 2005–2006, it only confirmed the Poles’ worst fears. By early 2006 Warsaw and Washington were calling for a new division of NATO to confront Russia on its chosen terrain of energy security.33 But it wasn’t just gas supplies that were in play. In April 2006 at the meeting of the IMF and the World Bank in Washington, with central bankers Mario Draghi, Ben Bernanke and Jean-Claude Trichet looking on, Putin’s finance minister, Alexei Kudrin, shook hands with the American Treasury secretary. Kudrin had come to announce the repayment of a large tranche of international debt still owed to the Paris Club of creditors from the bad old days of the 1990s.

Putin: Operative in the Kremlin (Washington, DC: Brookings, 2013), chapter 5. 30. P. Anderson, “Incommensurate Russia,” New Left Review 94 (July–August 2015). 31. World Bank in Russia, Russia Economic Report 17 (November 2008), table 1.9. 32. A. E. Stent, The Limits of Partnership (Princeton, NJ: Princeton University Press, 2014); and Hill and Gaddy, Mr. Putin. 33. P. Gallis, NATO and Energy Security, CRS Report for Congress (August 15, 2007). 34. “Kudrin Has Reservations on Dollar,” Moscow Times, April 24, 2006. 35. Johnson, “Forbidden Fruit.” 36. The text of Putin’s speech is at “Putin’s Prepared Remarks at 43rd Munich Conference on Security Policy,” Washington Post, February 12, 2007. 37. “At $US250 a Barrel, We’re Headed for Meltdown,” Sydney Morning Herald, June 21, 2008. 38.


pages: 412 words: 115,266

The Moral Landscape: How Science Can Determine Human Values by Sam Harris

Albert Einstein, banking crisis, Bayesian statistics, cognitive bias, end world poverty, endowment effect, energy security, experimental subject, framing effect, hindsight bias, impulse control, John Nash: game theory, longitudinal study, loss aversion, meta analysis, meta-analysis, out of africa, pattern recognition, placebo effect, Ponzi scheme, Richard Feynman, risk tolerance, scientific worldview, stem cell, Stephen Hawking, Steven Pinker, the scientific method, theory of mind, ultimatum game, World Values Survey

This book was written in the hope that as science develops, we will recognize its application to the most pressing questions of human existence. For nearly a century, the moral relativism of science has given faith-based religion—that great engine of ignorance and bigotry—a nearly uncontested claim to being the only universal framework for moral wisdom. As a result, the most powerful societies on earth spend their time debating issues like gay marriage when they should be focused on problems like nuclear proliferation, genocide, energy security, climate change, poverty, and failing schools. Granted, the practical effects of thinking in terms of a moral landscape cannot be our only reason for doing so—we must form our beliefs about reality based on what we think is actually true. But few people seem to recognize the dangers posed by thinking that there are no true answers to moral questions. If our well-being depends upon the interaction between events in our brains and events in the world, and there are better and worse ways to secure it, then some cultures will tend to produce lives that are more worth living than others; some political persuasions will be more enlightened than others; and some world views will be mistaken in ways that cause needless human misery.


A Sea in Flames: The Deepwater Horizon Oil Blowout by Carl Safina

addicted to oil, big-box store, clean water, cognitive dissonance, energy security, Exxon Valdez, hydraulic fracturing, Intergovernmental Panel on Climate Change (IPCC), Jones Act, North Sea oil, oil shale / tar sands, oil shock, Piper Alpha, Ronald Reagan

It all sounds so obvious, and too familiar. And that’s the problem: the things that should have us on fire demanding change somehow fail to rouse we, the people, to the passion that could free us from our dependence on our pushers. Senator John Kerry, one of the first sponsors of the Senate’s energy bill, back before the blowout, seems to share such sentiments. He believes America is confronting three interrelated crises: an energy security crisis, a climate crisis, and an economic crisis. He says our best response to all three “is a bold, comprehensive bill that accelerates green innovation and creates millions of new jobs as we develop and produce the next generation of renewable power sources, alternative fuels and energy-efficient cars, homes and workplaces.” But ironically, because some Republican governors—such as Florida’s Charlie Crist and California’s Arnold Schwarzenegger—are withdrawing support for expanding drilling off their coasts, Republican support for an energy bill—wafer thin at its apogee—is dissolving faster than dispersant-drenched oil.


pages: 335 words: 114,039

David Mitchell: Back Story by David Mitchell

British Empire, call centre, correlation does not imply causation, credit crunch, Desert Island Discs, Downton Abbey, energy security, Kickstarter, lateral thinking

(I wonder if that’s where the biscuit got its name. I’m suspicious about that biscuit’s name. It’s like Stinking Bishop: recent, yet quickly adopted as a go-to reference for those wishing to be cosily humorous. It got its Alan Bennett licence too early and easily. I suspect the advertising agency was involved.) I adjust the collar of my jacket, massaging a slightly jarred wrist from my high-energy security check. It’s a spring day and slightly too warm for a jacket really – certainly once I get walking. Unless the temperature is absolutely Siberian, a brisk walk always warms me up, especially when I’ve got a jacket on. Or at least warms up the middle of my back, which then sweats through my shirt. So I have to wear a jacket to hide that. My walk begins on the exterior staircase from my flat, which I have to descend carefully in case there’s sick or a used needle.


pages: 379 words: 114,807

The Land Grabbers: The New Fight Over Who Owns the Earth by Fred Pearce

activist lawyer, Asian financial crisis, banking crisis, big-box store, blood diamonds, British Empire, Buy land – they’re not making it any more, Cape to Cairo, carbon footprint, clean water, corporate raider, credit crunch, Deng Xiaoping, Elliott wave, en.wikipedia.org, energy security, farmers can use mobile phones to check market prices, index fund, Jeff Bezos, Kickstarter, land reform, land tenure, Mahatma Gandhi, market fundamentalism, megacity, Mohammed Bouazizi, Nelson Mandela, Nikolai Kondratiev, offshore financial centre, out of africa, quantitative easing, race to the bottom, Ronald Reagan, smart cities, structural adjustment programs, too big to fail, undersea cable, urban planning, urban sprawl, WikiLeaks

But at any rate her view was that “we are on an up-cycle of commodity prices, and we see resource conflicts around 2020.” These stories of waves and cycles determining history sound flaky. And the company is inclined to oversell its insight. Its website boasts that Murrin and Payne peered into their geopolitical crystal balls to get ahead of the game by spotting “in late 2007 . . . food security as the next energy security.” The phrase has a ring to it, but this wasn’t so much unique insight as fanning the flames of growing panic. In July 2007, the seers at the BBC were already writing headlines about “food prices on the rise and rise” and relaying “doomsday predictions of the price of staple foods.” But a cynic would suggest this is how the masters of the universe operate. No profound insight, just riding the waves and cycles.


pages: 412 words: 113,782

Business Lessons From a Radical Industrialist by Ray C. Anderson

addicted to oil, Albert Einstein, banking crisis, business cycle, carbon footprint, centralized clearinghouse, clean water, cleantech, corporate social responsibility, Credit Default Swap, dematerialisation, distributed generation, energy security, Exxon Valdez, fear of failure, Gordon Gekko, greed is good, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), intermodal, invisible hand, late fees, Mahatma Gandhi, market bubble, music of the spheres, Negawatt, new economy, oil shale / tar sands, oil shock, old-boy network, peak oil, renewable energy credits, shareholder value, Silicon Valley, six sigma, supply-chain management, urban renewal, Y2K

. … mobilize the market by putting a price on carbon with upstream cap-and-auction; end public subsidies of fossil fuels; and offer a billion-dollar “platinum carrot” award, over five years, for transformative technologies that help America reduce its greenhouse gas emissions. Allocate a billion dollars yearly to states and localities that adopt policies that help the nation meet its carbon reduction and energy security goals. 6. … set off an economic boom by creating millions of new green jobs economywide. Establish a program of voluntary training and service for disadvantaged young people. Begin a rural renaissance in which farms and rural communities become the nation’s chief suppliers of energy. 7. … prevent “carbon lock-in” by banning the construction of new coal-fired power plants that are not able to capture and store their greenhouse gas emissions; and do not provide public subsidies to new carbon-intensive fuels, such as liquid fuels from coal. 8. … rapidly increase CAFE standards for all U.S. vehicles, starting now. 9. … rebuild the federal capacity to lead by appointing (or reappointing) bona fide climate experts to climate-critical positions within the federal government, and rescind the Bush administration’s executive order that permits political oversight of (and interference with) scientific reports. 10. … assert your executive authority to move the nation forward when rapid action is required for the public interest.


pages: 393 words: 115,263

Planet Ponzi by Mitch Feierstein

Affordable Care Act / Obamacare, Albert Einstein, Asian financial crisis, asset-backed security, bank run, banking crisis, barriers to entry, Bernie Madoff, break the buck, centre right, collapse of Lehman Brothers, collateralized debt obligation, commoditize, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, Daniel Kahneman / Amos Tversky, disintermediation, diversification, Donald Trump, energy security, eurozone crisis, financial innovation, financial intermediation, fixed income, Flash crash, floating exchange rates, frictionless, frictionless market, high net worth, High speed trading, illegal immigration, income inequality, interest rate swap, invention of agriculture, light touch regulation, Long Term Capital Management, low earth orbit, mega-rich, money market fund, moral hazard, mortgage debt, negative equity, Northern Rock, obamacare, offshore financial centre, oil shock, pensions crisis, plutocrats, Plutocrats, Ponzi scheme, price anchoring, price stability, purchasing power parity, quantitative easing, risk tolerance, Robert Shiller, Robert Shiller, Ronald Reagan, too big to fail, trickle-down economics, value at risk, yield curve

Those sums are trivial in relation to the amounts now in question. Italy owes more than $2 trillion, Japan around $10 trillion. Italy is, as you may have noticed, a low-growth, poorly governed, somewhat corrupt country with an organized crime problem and a wholly untested and unelected government. Japan is, as you may have noticed, an earthquake-prone country with an aging population, a stagnant economy, a two-decades-old problem with deflation, no energy security, no raw materials, a huge and increasingly assertive neighbor, and a political class that seems perennially unable to implement radical change. Oh yes, and a nuclear mess that isn’t cleared up and seems all set for a tragic replay. As for the purported health of the private sector: don’t be fooled. At the time of writing, Bank of America, which is the largest bank by assets in the United States, has a stock market capitalization equal to just 25% of its book value.7 A company’s book value is the total accounting value of its assets less the total accounting value of its liabilities.


pages: 390 words: 109,870

Radicals Chasing Utopia: Inside the Rogue Movements Trying to Change the World by Jamie Bartlett

Andrew Keen, back-to-the-land, Bernie Sanders, bitcoin, blockchain, blue-collar work, Boris Johnson, brain emulation, centre right, clean water, cryptocurrency, Donald Trump, drone strike, Elon Musk, energy security, Ethereum, ethereum blockchain, failed state, gig economy, hydraulic fracturing, income inequality, Intergovernmental Panel on Climate Change (IPCC), Jaron Lanier, job automation, John Markoff, Joseph Schumpeter, Kickstarter, life extension, Occupy movement, off grid, Peter Thiel, post-industrial society, postnationalism / post nation state, precariat, QR code, Ray Kurzweil, RFID, Rosa Parks, Ross Ulbricht, Satoshi Nakamoto, self-driving car, Silicon Valley, Silicon Valley startup, Skype, smart contracts, stem cell, Stephen Hawking, Steve Jobs, Steven Pinker, technoutopianism

In 2014 New York banned fracking after a two-year study into its impact on public health, noting in particular the risk of water and surface spill leading to local drinking-water contamination and heightened risk of earthquakes in the area.18 (Poor regulation in Wyoming resulted in fifty times the safe level of benzene, a flammable fuel component, in the local drinking supply.19) It’s also an eyesore, damaging areas of natural beauty and animal habitats, and can be extremely loud. Independent studies have found that the risks associated with fracking can be managed, and advocates argue it will create thousands of local jobs and improve the United Kingdom’s energy security. Yet since 2011 the United Kingdom has been frack-free because local Nimbys got angry, and then got organised, with the help of activists. And when activists and Nimbys work together, something can really happen. In April 2011 the energy company Cuadrilla started test-fracking in Lancashire and shortly after there were two small earthquakes. Anti-fracking groups in the area formed and started to campaign against it.


Hopes and Prospects by Noam Chomsky

"Robert Solow", Albert Einstein, banking crisis, Berlin Wall, Bretton Woods, British Empire, capital controls, colonial rule, corporate personhood, Credit Default Swap, cuban missile crisis, David Ricardo: comparative advantage, deskilling, en.wikipedia.org, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Firefox, Howard Zinn, Hyman Minsky, invisible hand, liberation theology, market fundamentalism, Martin Wolf, Mikhail Gorbachev, Monroe Doctrine, moral hazard, Nelson Mandela, new economy, nuremberg principles, one-state solution, open borders, Plutonomy: Buying Luxury, Explaining Global Imbalances, Ralph Waldo Emerson, RAND corporation, Ronald Reagan, structural adjustment programs, The Wealth of Nations by Adam Smith, too big to fail, total factor productivity, trade liberalization, uranium enrichment, Washington Consensus

Security analyst Robert Dreyfuss describes former marine commandant Jones, Obama’s new national security adviser, as “Obama’s hawk,” who “seems least compatible with Obama” among his hawkish team—though there is little reason beyond “hope” to justify the judgment about compatibility. Jones, Dreyfuss observes, “is a fierce advocate of NATO expansion,” Clinton’s policy that reneged on gentlemen’s agreements with Gorbachev, guaranteeing confrontation with an encircled Russia. Jones urged that NATO should move to the south as well as the east, to expand U.S. control over Middle East energy supplies (in preferred terminology, “safeguarding energy security”). He also advocates a “NATO response force,” which will give the U.S.-run military alliance “much more flexible capability to do things rapidly at very long distances.” Europe has been reluctant, but will probably succumb to pressure from a militaristic and expansionist administration in Washington.36 The new director of national intelligence is Dennis Blair, former head of the U.S. Pacific Command.


Poisoned Wells: The Dirty Politics of African Oil by Nicholas Shaxson

Asian financial crisis, Berlin Wall, blood diamonds, business climate, clean water, colonial rule, energy security, Exxon Valdez, failed state, Fall of the Berlin Wall, Hernando de Soto, income per capita, inflation targeting, Kickstarter, Martin Wolf, mobile money, Nelson Mandela, offshore financial centre, old-boy network, Ronald Reagan, Scramble for Africa, Yom Kippur War, zero-sum game

No wonder their citizens are angry. 232 Conclusion If the oil money was paid to their citizens directly, bad money would become good, and they would hate us less. And if, as the Elf affair shows, poor oil states can seriously threaten our own democracies, then distributing the money to African citizens neutralizes this threat, by deflating these mischief-making balloons of oil cash. As a bonus, citizens would be less likely to disrupt the industry that directly feeds them. This would enhance the West’s energy security. Could this really be put into practice? African politicians would detest it, for it would hand “their” money to ordinary Africans. Even today’s African “civil society” activists might oppose it: many of them make a living from the current set-up and might lose out in such a revolution. “IMF Working Paper tosh!” sniffed a well-known member of Nigerian civil society to whom I mentioned the 2003 IMF Working Paper.


pages: 421 words: 125,417

Common Wealth: Economics for a Crowded Planet by Jeffrey Sachs

agricultural Revolution, air freight, back-to-the-land, British Empire, business process, carbon footprint, clean water, colonial rule, corporate social responsibility, correlation does not imply causation, creative destruction, demographic transition, Diane Coyle, Edward Glaeser, energy security, failed state, Gini coefficient, global pandemic, Haber-Bosch Process, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), intermodal, invention of agriculture, invention of the steam engine, invisible hand, Joseph Schumpeter, knowledge worker, labor-force participation, low skilled workers, mass immigration, microcredit, oil shale / tar sands, old age dependency ratio, peak oil, profit maximization, profit motive, purchasing power parity, road to serfdom, Ronald Reagan, Simon Kuznets, Skype, statistical model, The Wealth of Nations by Adam Smith, Thomas Malthus, trade route, transaction costs, unemployed young men, War on Poverty, women in the workforce, working-age population

The Bush administration has been more consumed by the scramble rather than by cooperative global investments in a long-term future. The administration’s outlook has been dominated by the oil industry, not by a broader perspective on sustainable energy potential or global sustainable development more generally. The Iraq War has its roots in the misapplied quest of the Bush administration for U.S. energy security, though the war has only deepened the insecurity. Yet the U.S. fixation on Middle East oil goes back more than half a century to the CIA-backed coup that overthrew the prime minister of Iran in 1953 and a seemingly endless series of CIA and military misadventures since then. Hundreds of billions of dollars have been spent in military efforts to ensure the security (for the United States) of Middle East oil fields, swamping the funds that have been applied to developing long-term energy alternatives.


pages: 481 words: 120,693

Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by Chrystia Freeland

activist fund / activist shareholder / activist investor, Albert Einstein, algorithmic trading, assortative mating, banking crisis, barriers to entry, Basel III, battle of ideas, Bernie Madoff, Big bang: deregulation of the City of London, Black Swan, Boris Johnson, Branko Milanovic, Bretton Woods, BRICs, business climate, call centre, carried interest, Cass Sunstein, Clayton Christensen, collapse of Lehman Brothers, commoditize, conceptual framework, corporate governance, creative destruction, credit crunch, Credit Default Swap, crony capitalism, Deng Xiaoping, disruptive innovation, don't be evil, double helix, energy security, estate planning, experimental subject, financial deregulation, financial innovation, Flash crash, Frank Gehry, Gini coefficient, global village, Goldman Sachs: Vampire Squid, Gordon Gekko, Guggenheim Bilbao, haute couture, high net worth, income inequality, invention of the steam engine, job automation, John Markoff, joint-stock company, Joseph Schumpeter, knowledge economy, knowledge worker, liberation theology, light touch regulation, linear programming, London Whale, low skilled workers, manufacturing employment, Mark Zuckerberg, Martin Wolf, Mikhail Gorbachev, Moneyball by Michael Lewis explains big data, NetJets, new economy, Occupy movement, open economy, Peter Thiel, place-making, plutocrats, Plutocrats, Plutonomy: Buying Luxury, Explaining Global Imbalances, postindustrial economy, Potemkin village, profit motive, purchasing power parity, race to the bottom, rent-seeking, Rod Stewart played at Stephen Schwarzman birthday party, Ronald Reagan, self-driving car, short selling, Silicon Valley, Silicon Valley startup, Simon Kuznets, Solar eclipse in 1919, sovereign wealth fund, starchitect, stem cell, Steve Jobs, the new new thing, The Spirit Level, The Wealth of Nations by Adam Smith, Tony Hsieh, too big to fail, trade route, trickle-down economics, Tyler Cowen: Great Stagnation, wage slave, Washington Consensus, winner-take-all economy, zero-sum game

Walter, Carl E., and Fraser J. T. Howie. Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise. John Wiley & Sons, 2011. Winters, Jeffrey A. Oligarchy. Cambridge University Press, 2011. Wolf, Martin. Why Globalization Works. Yale University Press, 2004. Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. Simon & Schuster, 1991. ———. The Quest: Energy, Security, and the Remaking of the Modern World. Penguin Press, 2011. Zakaria, Fareed. The Post-American World. W. W. Norton, 2008. INDEX The page numbers in this index refer to the printed version of this book. To find the corresponding locations in the text of this digital version, please use the “search” function on your e-reader. Note that not all terms may be searchable. Abramovich, Roman, 107 Abrams, Dan, 164 academics, 264, 267–69 Acemoglu, Daron, 21–22, 279–80 Ackermann, Josef, 254 Ackman, Bill, 51 active inertia, 145, 167–69 actors, 108 Ad Age, 50 Adderall, 52 Africa, 66, 76, 146 agency problem, 138 AIDS, 76, 246 AIG, 27, 101, 143 Akhmetov, Rinat, 103 Alger, Horatio, 45 algorithmic trading, 146 Allen, Herb, 68 Allen, Paul, 43 Allstate, 64 Alpha, 143 alpha geeks, 46–51, 92, 94 Amazon, 69, 234 Ambani, Mukesh, 199 Ambani family, 235 American Bar Association Journal, 107 American colonies, 11–12 Anderson, Chris, 68, 100 Anderson, Keith, 153–55 Andersson, Mats, 138 Animal Farm (Orwell), 90 Apollo, 142 Apple, 25, 54, 55, 104, 143 iPhone, 28 iPod, 24–26 Applied Materials, 64 Arcelor, 191 ArcelorMittal, 59 architects, 103–4 Ariely, Dan, xii, 273–74 ARK (Absolute Return for Kids), 74 Arkady, 110 Arthur, W.


pages: 465 words: 124,074

Atomic Obsession: Nuclear Alarmism From Hiroshima to Al-Qaeda by John Mueller

airport security, Albert Einstein, Black Swan, Cass Sunstein, conceptual framework, cuban missile crisis, Doomsday Clock, energy security, F. W. de Klerk, failed state, long peace, Mikhail Gorbachev, mutually assured destruction, nuclear winter, oil shock, RAND corporation, Ronald Reagan, side project, uranium enrichment, William Langewiesche, Yom Kippur War

., 269n.23 Non-Proliferation Treaty (NPT), nuclear, 119–121 North Korea American-led forced invading, 247n.27 attention, 108, 238 axis of evil, 144 calm policy discussion, 151, 152–153 deterrence, 262n.19 “eating problem,” 152 hysteria, 263n.25 invasion of South Korea, 49 nuclear weapon, x proliferation, 93 proliferation fixation, 135–137 sanctions, 136, 145 “supreme priority” of, 149–150 Nth country problem, nuclear weapons, 91 nuclear age, verge of new, x nuclear arsenals, 64–65, 145, 237 nuclear bomb, 17, 269n.16 “The Nuclear Bomb of Islam,” bin Laden, 211–212 nuclear crisis, Cuba, 39 nuclear diffusion, 237 nuclear energy, security, 139–140 “nuclear era,” Hiroshima, ix nuclear explosion, 61–62, 181, 243n.9 nuclear fears classic cold war, 56–57 declining again, 60–61 On the Beach, 57 reviving in early 1980s, 58–60 subsiding in 1960s and 1970s, 57–58 nuclear fission bomb, probability of attack, 267n.48 nuclear forensics, 155, 164, 190, 194, 264n.6 nuclear fuel, cartelization, 260n.28 nuclear metaphysics, deterrence, 63–67 nuclear proliferation, xiii, 89 nuclear radiation, dirty bomb, 18 nuclear reactor meltdown, Chernobyl, 7 Nuclear Regulatory Agency, radiation, 7 The Nuclear Revolution, Mandelbaum, 246n.7 nuclear sting operation, 194 Nuclear Terrorism: The Ultimate Preventable Catastrophe, Kristof, 181 nuclear tipping point, Brookings Institution, 93–94 nuclear virginity, Canada, 112 nuclear war, x, 64 nuclear weapons.


pages: 587 words: 117,894

Cybersecurity: What Everyone Needs to Know by P. W. Singer, Allan Friedman

4chan, A Declaration of the Independence of Cyberspace, Apple's 1984 Super Bowl advert, barriers to entry, Berlin Wall, bitcoin, blood diamonds, borderless world, Brian Krebs, business continuity plan, Chelsea Manning, cloud computing, crowdsourcing, cuban missile crisis, data acquisition, do-ocracy, drone strike, Edward Snowden, energy security, failed state, Fall of the Berlin Wall, fault tolerance, global supply chain, Google Earth, Internet of things, invention of the telegraph, John Markoff, Julian Assange, Khan Academy, M-Pesa, MITM: man-in-the-middle, mutually assured destruction, Network effects, packet switching, Peace of Westphalia, pre–internet, profit motive, RAND corporation, ransomware, RFC: Request For Comment, risk tolerance, rolodex, Silicon Valley, Skype, smart grid, Steve Jobs, Stuxnet, uranium enrichment, We are Anonymous. We are Legion, web application, WikiLeaks, zero day, zero-sum game

This spirit led the US Chamber of Commerce to lead the successful charge against cybersecurity regulation in 2012. Some cybersecurity standards and regulations already exist, particularly in regulated industries, but they often fail to deliver the needed security gains. In the power grid, for example, standards developed jointly between industry and regulators in 2008 proved to be inadequate just three years later. Michael Assente, an energy security expert who runs an organization for security auditors, explained, “The standards have not been implemented with a strong sense of risk in mind. The complexity of enacting a new regulatory regime has taken our collective eye off security and turned it toward administrative issues and compliance.” This focus on compliance can turn security from an iterative, adaptive process to an organizational routine disconnected from the risks faced.


pages: 432 words: 124,635

Happy City: Transforming Our Lives Through Urban Design by Charles Montgomery

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, agricultural Revolution, American Society of Civil Engineers: Report Card, Bernie Madoff, British Empire, Buckminster Fuller, car-free, carbon footprint, centre right, City Beautiful movement, clean water, congestion charging, correlation does not imply causation, East Village, edge city, energy security, Enrique Peñalosa, experimental subject, Frank Gehry, Google Earth, happiness index / gross national happiness, hedonic treadmill, Home mortgage interest deduction, housing crisis, income inequality, income per capita, Induced demand, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Jane Jacobs, license plate recognition, McMansion, means of production, megacity, Menlo Park, meta analysis, meta-analysis, mortgage tax deduction, New Urbanism, Panopticon Jeremy Bentham, peak oil, Ponzi scheme, rent control, ride hailing / ride sharing, risk tolerance, science of happiness, Seaside, Florida, Silicon Valley, starchitect, the built environment, The Death and Life of Great American Cities, the High Line, The Spirit Level, The Wealth of Nations by Adam Smith, trade route, transit-oriented development, upwardly mobile, urban planning, urban sprawl, wage slave, white flight, World Values Survey, zero-sum game, Zipcar

alarmed the insurance industry: Fogarty, David, “Climate Change Growing Risk for Insurers: Industry,” Planet Ark, January 20, 2011, http://planetark.org/wen/60947 (accessed January 21, 2011). It would take nine planets: WWF, Zoological Society of London, and Global Footprint Network. Living Planet Report 2008 (Gland, Switzerland: World Wide Fund For Nature, 2008). in the next twenty years: Froggatt, Antony, et al., “Sustainable Energy Security: Strategic risks and opportunities for business,” white paper, London: Lloyd’s, 2010; Industry Task Force on Peak Oil and Energy Scarcity, “2010 Peak Oil Report,” 2010; Hess, Werner, “Energy for Tomorrow’s World—Trends, Scenarios, Tomorrow’s Markets,” Allianz/Dresdner Bank AG, Frankfurt/M., Germany, 2005); International Energy Agency, World Energy Outlook 2008 (Paris: IEA Publications, 2010); Hirsch, Robert L., “Peaking of World Oil Production: Recent Forecasts,” National Energy Technology Laboratory, 2007; U.S.


pages: 651 words: 135,818

China into Africa: trade, aid, and influence by Robert I. Rotberg

barriers to entry, BRICs, colonial rule, corporate governance, Deng Xiaoping, energy security, European colonialism, failed state, global supply chain, global value chain, income inequality, Khartoum Gordon, land reform, megacity, microcredit, offshore financial centre, one-China policy, out of africa, Pearl River Delta, profit maximization, purchasing power parity, RAND corporation, Scramble for Africa, South China Sea, special economic zone, structural adjustment programs, trade route, Washington Consensus, zero-sum game

China currently lacks the ability to protect oil shipments on the high seas and through the Straits of Malacca. In the event of a conflict involving Taiwan, it probably fears that the United States would use its naval power to disrupt the flow of oil to China. Consequently, China will probably seek first to extend its naval capacity into the Straits of Malacca and then to the Persian Gulf and Indian Ocean, which are more essential to Beijing’s energy security. Because of the African coast’s greater distance from China, protecting its interests in the sea lanes around Africa will be a lower priority. For the time being, China will rely on the projection of soft power in the region. Nevertheless, China is almost certainly planning a naval force that eventually can protect the sea lanes around and from Africa. Doing so will inevitably result in closer collaboration between the PLA navy and African leaders and port facilities.


pages: 493 words: 132,290

Vultures' Picnic: In Pursuit of Petroleum Pigs, Power Pirates, and High-Finance Carnivores by Greg Palast

anti-communist, back-to-the-land, bank run, Berlin Wall, Bernie Madoff, British Empire, capital asset pricing model, capital controls, centre right, Chelsea Manning, clean water, collateralized debt obligation, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, Donald Trump, energy security, Exxon Valdez, invisible hand, means of production, Myron Scholes, Nelson Mandela, offshore financial centre, Pepto Bismol, random walk, Ronald Reagan, sensible shoes, transfer pricing, uranium enrichment, Washington Consensus, Yogi Berra

But I digress. The Women of the Storm ran these slick, slick, slick ads. I want you to take a look at one. It opens with Mother Nature, that harpy, ripping up the coastline. The winds howl. The trees bend and waves crash while a voice tells us, “Crippling storms . . . hurricanes . . .” The ad continues: These storms and hurricanes are not threatening birds or fish but . . . “our energy security.” It’s that beast Nature against the defenseless . . . oil industry. An odd message for a charity. But it’s done so slickly, you really have to watch twice, and slowly, to know you’ve been greased. The actress Sandra Bullock even lent her voice to one. The Nature-did-this-to-us campaign has expanded. Women of the Storm boasts a new deal that will put its “public service announcements” on over six thousand movie screens.


pages: 692 words: 127,032

Fool Me Twice: Fighting the Assault on Science in America by Shawn Lawrence Otto

affirmative action, Albert Einstein, anthropic principle, Berlin Wall, Brownian motion, carbon footprint, Cepheid variable, clean water, Climategate, Climatic Research Unit, cognitive dissonance, Columbine, commoditize, cosmological constant, crowdsourcing, cuban missile crisis, Dean Kamen, desegregation, different worldview, double helix, energy security, Exxon Valdez, fudge factor, ghettoisation, global pandemic, Harlow Shapley and Heber Curtis, Harvard Computers: women astronomers, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Isaac Newton, Louis Pasteur, mutually assured destruction, Richard Feynman, Ronald Reagan, Saturday Night Live, shareholder value, sharing economy, smart grid, Solar eclipse in 1919, stem cell, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, transaction costs, University of East Anglia, War on Poverty, white flight, Winter of Discontent, working poor, yellow journalism, zero-sum game

Earth’s climate is changing and there is concern about the potentially adverse effects of these changes on life on the planet. Please set out what your positions are on the following measures that have been proposed to address global climate change: a cap-and-trade system, a carbon tax, increased fuel-economy standards, firm carbon emissions targets, and/or research? What other policies would you support? 3. Energy. Many policy makers and scientists say energy security and sustainability are major problems facing the United States during this century. What policies would you support to meet demand for energy while ensuring an economically and environmentally sustainable future? 4. Education. A comparison of fifteen-year-olds in thirty wealthy nations found that average science scores among US students ranked seventeenth, while average US math scores ranked twenty-fourth.


pages: 493 words: 136,235

Operation Chaos: The Vietnam Deserters Who Fought the CIA, the Brainwashers, and Themselves by Matthew Sweet

Berlin Wall, British Empire, centre right, computer age, Donald Trump, energy security, Fall of the Berlin Wall, game design, Haight Ashbury, hiring and firing, Howard Zinn, Kickstarter, Mikhail Gorbachev, planetary scale, Ralph Waldo Emerson, Richard Feynman, Ronald Reagan, Saturday Night Live, Skype, South China Sea, Stanford prison experiment, Thomas Malthus, Triangle Shirtwaist Factory, WikiLeaks, Yogi Berra, éminence grise

“a former LaRouche associate who has sold out himself”: Jonathan Tennenbaum, “Washington Is Heading for a New Iraq War,” Executive Intelligence Review, March 1, 2002. the NCLC counterintelligence staffer: Michelle Steinberg, a member of LaRouche’s counterintelligence staff, turned up at a Brookings event on March 23, 2009. See Brookings Institution conference transcript, “US-Russian Leadership for Global Financial and Energy Security,” http://www.ifs.ru/download.php?id=658. Steinberg’s authorship of the notebooks is suggested by “Did FBI, NBC Try to Frame LaRouche in Palme Death?,” Executive Intelligence Review, July 24, 1992, and by her attempts to use the courts to oblige the Boston branch of the FBI to release “any and all documents pertaining to and surrounding the United States government’s release of and/or disclosure of evidentiary material and any other documents turned over to the Swedish Police or other Swedish authorities.”


pages: 538 words: 138,544

The Story of Stuff: The Impact of Overconsumption on the Planet, Our Communities, and Our Health-And How We Can Make It Better by Annie Leonard

air freight, banking crisis, big-box store, blood diamonds, Bretton Woods, California gold rush, carbon footprint, clean water, Community Supported Agriculture, dematerialisation, employer provided health coverage, energy security, European colonialism, Firefox, Food sovereignty, Ford paid five dollars a day, full employment, global supply chain, income inequality, Indoor air pollution, intermodal, Jeff Bezos, job satisfaction, Kickstarter, liberation theology, McMansion, Nelson Mandela, new economy, oil shale / tar sands, peak oil, Ralph Nader, renewable energy credits, Silicon Valley, special economic zone, supply-chain management, the built environment, trade liberalization, trickle-down economics, union organizing, Wall-E, Whole Earth Review, Zipcar

In the United States, a nationally active group called the Business Alliance for Local Living Economies (BALLE) unites businesses working to promote local economies and community selfreliance: not just a local food system, but local energy (think solar cells and wind turbines), local clothing manufacturing, and green buildings from local materials.129 In this model, a global economy still exists, but as a network of locally sustainable economies that trade in products they can’t produce themselves. Trade—national or international—isn’t the goal, but a means to promote well-being, good jobs, a healthy environment. Judy Wicks, one of the founders of the local food movement and of BALLE, even makes a connection between local self-reliance and security: “Wars are often fought over access to basic needs like energy, food, and water. Helping every region achieve food security, energy security, and water security builds the foundation for world peace. Self-reliant societies are less likely to start wars than those dependent on long-distance shipments of oil, water or food.”130 Internationally, there’s a growing group of more than one hundred communities that have declared themselves “Transition Towns”—many in Great Britain but a handful in the United States (including Boulder County, Colorado; Sandpoint, Idaho; and Berea, Kentucky) and elsewhere—that are working toward reducing energy consumption and increasing local energy production, food self-reliance, and industrial ecology, in which the waste of one factory or business is used as the raw materials of the next.


pages: 519 words: 136,708

Vertical: The City From Satellites to Bunkers by Stephen Graham

1960s counterculture, Berlin Wall, Boris Johnson, Buckminster Fuller, Buy land – they’re not making it any more, Chelsea Manning, Commodity Super-Cycle, creative destruction, deindustrialization, digital map, drone strike, Edward Glaeser, Edward Snowden, energy security, Frank Gehry, ghettoisation, Google Earth, Gunnar Myrdal, high net worth, housing crisis, Howard Zinn, illegal immigration, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, late capitalism, low earth orbit, mass immigration, means of production, megacity, megastructure, moral panic, mutually assured destruction, new economy, New Urbanism, nuclear winter, oil shale / tar sands, planetary scale, plutocrats, Plutocrats, post-industrial society, Project Plowshare, rent control, Richard Florida, Right to Buy, Ronald Reagan, Skype, South China Sea, the built environment, The Death and Life of Great American Cities, trickle-down economics, urban decay, urban planning, urban renewal, urban sprawl, white flight, WikiLeaks, William Langewiesche

Such peaks have been proven to lead to major power blackouts.63 Behind the unprecedented blackout across the megalopolitan Northeastern US on 14 August 2003 – the most powerful example thus far – lay an overstretched electricity system that was particularly overburdened with demands from air-conditioning systems.64 The extraordinary rates of growth in air-con use force the use of extra fossil fuels for electricity generation, increase related threats to energy security, lead to the release of more particulate matter and greenhouse gasses, and increase the risk of major power outages. The vicious circle here seems unbreakable: more air conditioning; exaggerated climate change–related temperature rises; increasingly intolerable urban heat-islands; further demands for air-con environments; and so on. Stan Cox pinpoints the spirals clearly: ‘Turning buildings into refrigerators burns fossil fuels, which emits greenhouse gases, which raises global temperatures, which creates a need for – you guessed it – more air-conditioning.’65 Such feedback loops add further to the vulnerabilities faced by marginalised urban groups, who have no choice but to endure urban heat-islands without air conditioning.


pages: 471 words: 127,852

Londongrad: From Russia With Cash; The Inside Story of the Oligarchs by Mark Hollingsworth, Stewart Lansley

Berlin Wall, Big bang: deregulation of the City of London, Bob Geldof, business intelligence, corporate governance, corporate raider, credit crunch, crony capitalism, Donald Trump, energy security, Etonian, F. W. de Klerk, income inequality, kremlinology, mass immigration, mega-rich, Mikhail Gorbachev, offshore financial centre, paper trading, plutocrats, Plutocrats, Plutonomy: Buying Luxury, Explaining Global Imbalances, rent-seeking, Ronald Reagan, Skype, Sloane Ranger

The state-owned oil company raised £5.6 billion in London in July 2006 after the High Court overruled an attempt by Yukos to claim that Rosneft’s public listing would amount to the ‘laundering’ of illegally acquired assets. Nevertheless, the Rosneft prospectus contained one of the longest sections ever devoted to ‘risk factors’, with extensive details of lawsuits the company was facing from Yukos and its former shareholders. Billionaire international investor and philanthropist George Soros claimed that the Rosneft float raised ‘serious ethical and energy security issues’ and should not have been permitted by British regulators.35 His criticisms were widely echoed. The Cooperative Insurance Society described those investing in such companies as ‘speculators not savers’.36 The Independent described the investment banks and accountancy firms that pocketed some £70 million in fees between them as having ‘City snouts in the trough’.37 While New York tightened the rules for Russian companies seeking to list their shares, London financial markets became what one critic described as a ‘colossal boot sale for the crony capitalists of the Kremlin’.38 Deripaska’s IPO plans for UC Rusal were dogged by both the ongoing issue of the visa ban to North America and the convoluted nature of the ownership of UC Rusal’s assets.


pages: 556 words: 141,069

The Profiteers by Sally Denton

Albert Einstein, anti-communist, Ayatollah Khomeini, Bay Area Rapid Transit, Berlin Wall, Boycotts of Israel, clean water, corporate governance, crony capitalism, Donald Trump, Edward Snowden, energy security, Fall of the Berlin Wall, G4S, invisible hand, James Watt: steam engine, Joan Didion, Kitchen Debate, laissez-faire capitalism, Mikhail Gorbachev, mutually assured destruction, Naomi Klein, new economy, nuclear winter, profit motive, Robert Hanssen: Double agent, Ronald Reagan, Silicon Valley, trickle-down economics, uranium enrichment, urban planning, WikiLeaks, wikimedia commons, William Langewiesche

NIF, housed in a ten-story building the size of three football fields, is described by LLNS as the cornerstone of NNSA’s stockpile stewardship program. The government claims that its temperatures of 100 million degrees allow it to create the same states of high-energy-density matter that exist in stars and planets. Among its chief missions, according to NNSA, the fusion device would provide a clean source of energy security for America—hence its national security component. Critics saw the LLNS budget to NIF as a slush fund for a government research program geared to benefit private industry, especially Bechtel. But the crucial factor of ignition eluded the project, rendering the “giant array of lasers designed to fuse hydrogen atoms” effectively impotent. Cynical scientists mocked LLNS as an acronym for Lasers, Lasers, Nothing but laserS, seeing NIF as a boondoggle more beneficial to Bechtel’s bottom line than to America’s energy or national security needs.


pages: 476 words: 139,761

Kleptopia: How Dirty Money Is Conquering the World by Tom Burgis

active measures, Anton Chekhov, banking crisis, Bernie Madoff, Big bang: deregulation of the City of London, Boris Johnson, British Empire, collapse of Lehman Brothers, coronavirus, corporate governance, COVID-19, Covid-19, credit crunch, Credit Default Swap, cryptocurrency, do-ocracy, Donald Trump, energy security, Etonian, failed state, Gordon Gekko, high net worth, Honoré de Balzac, illegal immigration, invisible hand, Julian Assange, liberal capitalism, light touch regulation, Mark Zuckerberg, Martin Wolf, Mikhail Gorbachev, Mohammed Bouazizi, Northern Rock, offshore financial centre, Right to Buy, Ronald Reagan, Skype, sovereign wealth fund, trade route, WikiLeaks

Ruthless despite his nervous giggle, he owed his riches in significant measure to his ability to hobble rivals by exploiting legal technicalities and loopholes. Such tactics had included rewarding with a place on the Yukos payroll the former official who, while in government, had written ambiguities into Russia’s commercial legislation to be put to precisely these uses. But this case was far more important than the seizure of an oil company, Amsterdam told Peter. ‘This is the rule of law in Russia. This is geopolitical stability. And this is energy security for Europe. Russia is still a nuclear state. We need Russia to be law-based and stable. And when there is security of property, security of contract, rule of law and human rights in Russia, then it’s in everyone’s interests.’ Part of Bob Amsterdam’s approach to the case was to get deep into the legal theory. He read incessantly. One day he handed Peter a copy of a little-known work of German legal scholarship, The Dual State: A Contribution to the Theory of Dictatorship.


pages: 476 words: 148,895

Cooked: A Natural History of Transformation by Michael Pollan

biofilm, bioinformatics, Columbian Exchange, correlation does not imply causation, creative destruction, dematerialisation, Drosophila, energy security, Gary Taubes, Hernando de Soto, hygiene hypothesis, Kickstarter, Louis Pasteur, Mason jar, microbiome, peak oil, Ralph Waldo Emerson, Steven Pinker, women in the workforce

WOLFE, The Viral Storm: The Dawn of a New Pandemic Age NORMAN DAVIES, Vanished Kingdoms: The History of Half-Forgotten Europe MICHAEL LEWIS, Boomerang: The Meltdown Tour STEVEN PINKER, The Better Angels of Our Nature: The Decline of Violence in History and Its Causes ROBERT TRIVERS, Deceit and Self-Deception: Fooling Yourself the Better to Fool Others THOMAS PENN, Winter King: The Dawn of Tudor England DANIEL YERGIN, The Quest: Energy, Security and the Remaking of the Modern World MICHAEL MOORE, Here Comes Trouble: Stories from My Life ALI SOUFAN, The Black Banners: Inside the Hunt for Al Qaeda JASON BURKE, The 9/11 Wars TIMOTHY D. WILSON, Redirect: The Surprising New Science of Psychological Change IAN KERSHAW, The End: Hitler’s Germany, 1944-45 T M DEVINE, To the Ends of the Earth: Scotland’s Global Diaspora, 1750-2010 CATHERINE HAKIM, Honey Money: The Power of Erotic Capital DOUGLAS EDWARDS, I’m Feeling Lucky: The Confessions of Google Employee Number 59 JOHN BRADSHAW, In Defence of Dogs CHRIS STRINGER, The Origin of Our Species LILA AZAM ZANGANEH, The Enchanter: Nabokov and Happiness DAVID STEVENSON, With Our Backs to the Wall: Victory and Defeat in 1918 EVELYN JUERS, House of Exile: War, Love and Literature, from Berlin to Los Angeles HENRY KISSINGER, On China MICHIO KAKU, Physics of the Future: How Science Will Shape Human Destiny and Our Daily Lives by the Year 2100 DAVID ABULAFIA, The Great Sea: A Human History of the Mediterranean JOHN GRIBBIN, The Reason Why: The Miracle of Life on Earth ANATOL LIEVEN, Pakistan: A Hard Country WILLIAM D COHAN, Money and Power: How Goldman Sachs Came to Rule the World JOSHUA FOER, Moonwalking with Einstein: The Art and Science of Remembering Everything SIMON BARON-COHEN, Zero Degrees of Empathy: A New Theory of Human Cruelty MANNING MARABLE, Malcolm X: A Life of Reinvention DAVID DEUTSCH, The Beginning of Infinity: Explanations that Transform the World DAVID EDGERTON, Britain’s War Machine: Weapons, Resources and Experts in the Second World War JOHN KASARDA AND GREG LINDSAY, Aerotropolis: The Way We’ll Live Next DAVID GILMOUR, The Pursuit of Italy: A History of a Land, its Regions and their Peoples NIALL FERGUSON, Civilization: The West and the Rest TIM FLANNERY, Here on Earth: A New Beginning ROBERT BICKERS, The Scramble for China: Foreign Devils in the Qing Empire, 1832-1914 MARK MALLOCH-BROWN, The Unfinished Global Revolution: The Limits of Nations and the Pursuit of a New Politics KING ABDULLAH OF JORDAN, Our Last Best Chance: The Pursuit of Peace in a Time of Peril ELIZA GRISWOLD, The Tenth Parallel: Dispatches from the Faultline between Christianity and Islam BRIAN GREENE, The Hidden Reality: Parallel Universes and the Deep Laws of the Cosmos THE BEGINNING Let the conversation begin...


pages: 526 words: 155,174

Sixty Days and Counting by Kim Stanley Robinson

different worldview, dumpster diving, energy security, full employment, Golden Gate Park, hiring and firing, Intergovernmental Panel on Climate Change (IPCC), McMansion, megacity, mutually assured destruction, off grid, place-making, Ralph Waldo Emerson, RFID, Richard Feynman, Saturday Night Live, urban decay, Works Progress Administration

Between that and the environmental objections, there would be no lack of opponents to such a plan. But the Navy, Frank suggested, had no reason to fear critics of any stripe. They did what Congress and the president asked them to do. Gamble concurred. Then, without saying so outright, he conveyed to Frank the impression that the Navy brain trust might be happy to be tasked with some of the nation’s energy security. These days, global military strategy and technology had combined in a way that made navies indispensable but unglamorous; they functioned like giant water taxis for the other services. Ambition to do more was common in the secretary’s office, and over at Annapolis. “Great,” Frank said. While listening to this artful description, vague but suggestive, something had occurred to him: “When there are blackouts, could the nuclear fleet serve as emergency generators?”


pages: 537 words: 149,628

Ghost Fleet: A Novel of the Next World War by P. W. Singer, August Cole

3D printing, Admiral Zheng, augmented reality, British Empire, digital map, energy security, Firefox, glass ceiling, global reserve currency, Google Earth, Google Glasses, IFF: identification friend or foe, Just-in-time delivery, low earth orbit, Maui Hawaii, MITM: man-in-the-middle, new economy, old-boy network, RAND corporation, reserve currency, RFID, Silicon Valley, Silicon Valley startup, South China Sea, sovereign wealth fund, stealth mode startup, trade route, Wall-E, We are Anonymous. We are Legion, WikiLeaks, zero day, zero-sum game

And yet, then, we must give the Americans a means to save face when defeat is to be accepted. As Master Sun advised, ‘We must build our foes a golden bridge to escape across.’ ” The economics minister responded. “Admiral, the question of what to do with the Hawaii zone is as simple as it would be on any card table. You do not just return to your foes what they have lost. They must give you a proper exchange for it. Both our energy security needs and the honor of the nation deserve that. And, indeed, even if you are right, and the Americans do make another attempt before they accept they have lost, this is for the best. You do not want someone to flee the table; you want him to remain and play the game, hand after hand, until his wallet is empty and his will is gone.” The meeting continued in circles like this. At eighty minutes in, Wang’s aide came over to him as planned.


pages: 475 words: 155,554

The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge by Faisal Islam

Asian financial crisis, asset-backed security, balance sheet recession, bank run, banking crisis, Basel III, Ben Bernanke: helicopter money, Berlin Wall, Big bang: deregulation of the City of London, Boris Johnson, British Empire, capital controls, carbon footprint, Celtic Tiger, central bank independence, centre right, collapse of Lehman Brothers, credit crunch, Credit Default Swap, crony capitalism, dark matter, deindustrialization, Deng Xiaoping, disintermediation, energy security, Eugene Fama: efficient market hypothesis, eurozone crisis, financial deregulation, financial innovation, financial repression, floating exchange rates, forensic accounting, forward guidance, full employment, G4S, ghettoisation, global rebalancing, global reserve currency, hiring and firing, inflation targeting, Irish property bubble, Just-in-time delivery, labour market flexibility, light touch regulation, London Whale, Long Term Capital Management, margin call, market clearing, megacity, Mikhail Gorbachev, mini-job, mittelstand, moral hazard, mortgage debt, mortgage tax deduction, mutually assured destruction, Myron Scholes, negative equity, North Sea oil, Northern Rock, offshore financial centre, open economy, paradox of thrift, Pearl River Delta, pension reform, price mechanism, price stability, profit motive, quantitative easing, quantitative trading / quantitative finance, race to the bottom, regulatory arbitrage, reserve currency, reshoring, Right to Buy, rising living standards, Ronald Reagan, savings glut, shareholder value, sovereign wealth fund, The Chicago School, the payments system, too big to fail, trade route, transaction costs, two tier labour market, unorthodox policies, uranium enrichment, urban planning, value at risk, WikiLeaks, working-age population, zero-sum game

Dotted around this Arctic desert are drills sucking gas from the Urengoy field, which lies beneath a thick layer of permafrost nearly 2 kilometres deep. It’s the second biggest gas field in the world, the largest field in one country – 10 trillion cubic metres of gas, enough to meet all of Britain’s needs for an entire century. Twice in the past decade, in 2006 and 2009, spats between Russia and Ukraine over the price of natural gas have led Russia to turn off the tap, which has also affected gas supplies to other European countries. ‘Energy security is a complicated matter and it’s a two-way street,’ says Alexander Medvedev. ‘We are as dependent upon our customers as they are on us,’ he says. I ask him if Gazprom is threatening western Europe. ‘We are not threatening anyone, we are simply saying that to call for the role of Russian gas to be artificially diminished is a very dangerous thing.’ That sounded threatening enough to me. There is a manufactured bleakness to Novi Urengoy.


pages: 505 words: 147,916

Adventures in the Anthropocene: A Journey to the Heart of the Planet We Made by Gaia Vince

3D printing, agricultural Revolution, bank run, car-free, carbon footprint, citizen journalism, clean water, congestion charging, crowdsourcing, decarbonisation, deindustrialization, energy security, failed state, Google Earth, Haber-Bosch Process, hive mind, informal economy, Intergovernmental Panel on Climate Change (IPCC), Kickstarter, load shedding, M-Pesa, Mars Rover, Masdar, megacity, mobile money, off grid, oil shale / tar sands, out of africa, Peter Thiel, phenotype, planetary scale, Ray Kurzweil, Silicon Valley, Skype, smart cities, smart grid, smart meter, South China Sea, sovereign wealth fund, stem cell, supervolcano, sustainable-tourism

Dam-building requires improvements to the roads and surrounding infrastructure, and shops, restaurants and other services will be built to serve the workers, she reasons. Her colleague, Rodrigo, is also in favour of the dams because he sees them as the only viable energy option for Chile. In 2009, reliance on Argentinian gas led to disaster when a domestic crisis there created a fuel shortage and the country cut Chile off. ‘We can’t rely on another country to provide our energy,’ Rodrigo says. The energy-security argument is one the dam company is focusing on in an orchestrated PR campaign that includes television advertisements threatening catastrophe if the project is blocked. One shows the lights going out mid-surgery in an operating theatre. After repeated back-and-forth between HidroAysén, XSTRATA and the government, and seven court appeals on environmental grounds, Chile’s supreme court ruled in favour of the dams in April 2012.


Days of Fire: Bush and Cheney in the White House by Peter Baker

addicted to oil, anti-communist, battle of ideas, Berlin Wall, Bernie Madoff, Bob Geldof, buy low sell high, card file, clean water, collective bargaining, cuban missile crisis, desegregation, drone strike, energy security, facts on the ground, failed state, Fall of the Berlin Wall, friendly fire, guest worker program, hiring and firing, housing crisis, illegal immigration, immigration reform, Mikhail Gorbachev, MITM: man-in-the-middle, Robert Bork, Ronald Reagan, Ronald Reagan: Tear down this wall, Saturday Night Live, South China Sea, stem cell, too big to fail, uranium enrichment, War on Poverty, working poor, Yom Kippur War

They were fine as far as they went, but the cold truth was that oil and gas were here to stay, at least for decades. Others in the White House shared his doubts. In an interconnected energy market, it was impractical to declare that one barrel of oil came from an undesirable source while another was acceptable, not to mention that allies would still be dependent on the same sources. Energy independence, they argued, was something of a misnomer; energy security might be better. Besides, while net oil imports had risen from 53 percent of American consumption to 60 percent since the president took office, only 11 percent of the country’s oil came from the Persian Gulf, even less than before Bush’s arrival. The United States was depending increasingly on Canada and Mexico for oil, much more reliable partners. None of that dissuaded Bush. His State of the Union would call for a two-decade project to break American energy dependence, echoing promises made by presidents for generations.

But rather than outline specifically what needed to be done to achieve such a goal, the president would lay out broad parameters and describe “the right way” and “the wrong way” to proceed. “The wrong way is to raise taxes, duplicate mandates, or demand sudden and drastic emissions cuts that have no chance of being realized and every chance of hurting our economy,” Bush said in the Rose Garden on April 16. “The right way is to set realistic goals for reducing emissions consistent with advances in technology, while increasing our energy security and ensuring our economy can continue to prosper and grow.” In the end, Cheney’s office had muddied the language enough that no one even realized the president had agreed to a cap-and-trade system. “Most people looked around and had no idea what he just said because it was a big muddle,” Patel said. “It was so embarrassing for the Bush folks that they just dropped it.” Connaughton was among those who wished the words “cap and trade” had been in the speech.


pages: 552 words: 168,518

MacroWikinomics: Rebooting Business and the World by Don Tapscott, Anthony D. Williams

accounting loophole / creative accounting, airport security, Andrew Keen, augmented reality, Ayatollah Khomeini, barriers to entry, Ben Horowitz, bioinformatics, Bretton Woods, business climate, business process, buy and hold, car-free, carbon footprint, Charles Lindbergh, citizen journalism, Clayton Christensen, clean water, Climategate, Climatic Research Unit, cloud computing, collaborative editing, collapse of Lehman Brothers, collateralized debt obligation, colonial rule, commoditize, corporate governance, corporate social responsibility, creative destruction, crowdsourcing, death of newspapers, demographic transition, disruptive innovation, distributed generation, don't be evil, en.wikipedia.org, energy security, energy transition, Exxon Valdez, failed state, fault tolerance, financial innovation, Galaxy Zoo, game design, global village, Google Earth, Hans Rosling, hive mind, Home mortgage interest deduction, information asymmetry, interchangeable parts, Internet of things, invention of movable type, Isaac Newton, James Watt: steam engine, Jaron Lanier, jimmy wales, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, Marc Andreessen, Marshall McLuhan, mass immigration, medical bankruptcy, megacity, mortgage tax deduction, Netflix Prize, new economy, Nicholas Carr, oil shock, old-boy network, online collectivism, open borders, open economy, pattern recognition, peer-to-peer lending, personalized medicine, Ray Kurzweil, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, scientific mainstream, shareholder value, Silicon Valley, Skype, smart grid, smart meter, social graph, social web, software patent, Steve Jobs, text mining, the scientific method, The Wisdom of Crowds, transaction costs, transfer pricing, University of East Anglia, urban sprawl, value at risk, WikiLeaks, X Prize, young professional, Zipcar

A $34.6 billion investment in the clean energy economy in 2009 places China at the top of the clean energy investment league and well ahead of the United States, in second place with an annual investment of $18.6 billion.7 Though $34 billion sounds large, it is still only 10 to 20 percent of the annual investment in renewable sources that some analyst reports claim will be necessary to contain China’s greenhouse gas emissions while still meeting rapidly growing domestic energy demand.8 Nevertheless, China’s stake in the ground is evidence that it will be a major force in determining how the green energy economy evolves in the coming decades. Where does all this leave the United States, the world’s largest consumer of energy? Will it fall behind in the race to develop new industries, address energy security, and reduce emissions? Or will it seize the moment to race ahead? Green energy enthusiasts like to point to past efforts at reindustrialization as inspiration for how to mobilize government and industry behind the new energy revolution. After all, it’s true such grand feats of engineering have been accomplished in the past. Oft-cited examples include the retooling of American automobile factories to build 300,000 aircraft during World War II and the 47,000 miles of interstate highways built over thirty-five years and seven administrations.


Smart Grid Standards by Takuro Sato

business cycle, business process, carbon footprint, clean water, cloud computing, data acquisition, decarbonisation, demand response, distributed generation, energy security, factory automation, information retrieval, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Iridium satellite, iterative process, knowledge economy, life extension, linear programming, low earth orbit, market design, MITM: man-in-the-middle, off grid, oil shale / tar sands, packet switching, performance metric, RFC: Request For Comment, RFID, smart cities, smart grid, smart meter, smart transportation, Thomas Davenport

In this section, we briefly introduce some of these organizations, forums, and alliances. 1.2.3.1 International Energy Agency (IEA) The International Energy Agency (IEA) was founded in response to the 1973 oil crisis with the role to coordinate response to major disruptions in oil supply by releasing emergency oil stocks [25]. Its current work is to ensure reliable, affordable, and clean energy. The four core areas of IEA’s works are energy security, economic development, environmental awareness, and engagement worldwide. The IEA consists of 28 member countries including Australia, Canada, the Czech Republic, Denmark Finland, Germany, Hungary, Italy, Japan, Luxembourg, New Zealand, An Overview of the Smart Grid 13 Norway, the Slovak Republic, Spain, Turkey, United Kingdom, United States, and so on. Besides member countries, the IEA has also developed close relationships with nonmember countries such as China, India, Brazil, Russia, and Thailand. 1.2.3.2 Clean Energy Ministerial (CEM) The Clean Energy Ministerial (CEM) is a high-level global forum for clean energy technologies first hosted by the then US Secretary of Energy Steven Chu at the UN Framework Convention on Climate Change conference of parties in December 2009 [26].


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Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right by Jane Mayer

affirmative action, Affordable Care Act / Obamacare, American Legislative Exchange Council, anti-communist, Bakken shale, bank run, battle of ideas, Berlin Wall, Capital in the Twenty-First Century by Thomas Piketty, carried interest, centre right, clean water, Climategate, Climatic Research Unit, collective bargaining, corporate raider, crony capitalism, David Brooks, desegregation, diversified portfolio, Donald Trump, energy security, estate planning, Fall of the Berlin Wall, George Gilder, housing crisis, hydraulic fracturing, income inequality, Intergovernmental Panel on Climate Change (IPCC), invisible hand, job automation, low skilled workers, mandatory minimum, market fundamentalism, mass incarceration, Mont Pelerin Society, More Guns, Less Crime, Nate Silver, New Journalism, obamacare, Occupy movement, offshore financial centre, oil shale / tar sands, oil shock, plutocrats, Plutocrats, Powell Memorandum, Ralph Nader, Renaissance Technologies, road to serfdom, Robert Mercer, Ronald Reagan, school choice, school vouchers, The Bell Curve by Richard Herrnstein and Charles Murray, The Chicago School, the scientific method, University of East Anglia, Unsafe at Any Speed, War on Poverty, working poor

Banerjee, “The Most Hated Climate Scientist in the US Fights Back,” Yale Alumni Magazine, March/April 2013. “What we didn’t take into account”: Michael Mann, interview with author. “it’s like the switch from whale oil”: Ibid. He owned, by one count: Fisher, “Fuel’s Paradise.” Only the U.S. government: Neela Banerjee, “In Climate Politics, Texas Aims to Be the Anti-California,” Los Angeles Times, Nov. 7, 2010. “unleash what became known”: Daniel Yergin, The Quest: Energy, Security, and the Remaking of the Modern World (Penguin, 2011), 328–29. The Kochs, too: For more on the Kochs’ fracking investments, see Brad Johnson, “How the Kochs Are Fracking America,” ThinkProgress, March 2, 2012. If the world were to stay: See “Global Warming’s Terrifying New Math,” by Bill McKibben, Rolling Stone, July 19, 2012. He explains that scientists believe the earth can tolerate the burning of roughly 565 more gigatons of carbon dioxide by mid-century, but that informed estimates place the currently untapped carbon reserves at 2,795 gigatons.


pages: 613 words: 181,605

Circle of Greed: The Spectacular Rise and Fall of the Lawyer Who Brought Corporate America to Its Knees by Patrick Dillon, Carl M. Cannon

accounting loophole / creative accounting, affirmative action, Bernie Madoff, buy and hold, collective bargaining, Columbine, computer age, corporate governance, corporate raider, desegregation, energy security, estate planning, Exxon Valdez, fear of failure, fixed income, Gordon Gekko, greed is good, illegal immigration, index fund, John Markoff, mandatory minimum, margin call, Maui Hawaii, money market fund, new economy, oil shale / tar sands, Ponzi scheme, Ralph Nader, rolodex, Ronald Reagan, Sand Hill Road, Silicon Valley, Silicon Valley startup, Steve Jobs, the High Line, the market place, white picket fence, Works Progress Administration, zero-sum game

The judge turned to Bunch: “Has the jury reached a unanimous verdict?” “Yes, sir,” he said. The judge directed him to hand the verdicts to his court clerk, who then read them aloud, beginning with Executive Life Insurance Company, a separate plaintiff from Lerach’s class action plaintiffs, which had bought Nucorp notes through Drexel Burnham: “We the jury, in the above-entitled cause unanimously find as follows: In Nucorp Energy Securities Litigation on claims brought by Executive Life Insurance Company—we find against Executive Life Insurance Company.” Four more counts remained, and to each the jury assigned the same unfavorable judgment. Finally, Bunch said: “We assess the amount of damages to be zero.” Judge Irving peered down at the plaintiffs’ table, his eyes meeting Lerach’s. Both knew what the first verdict meant, even though Lerach’s plaintiffs were not involved.


pages: 708 words: 176,708

The WikiLeaks Files: The World According to US Empire by Wikileaks

affirmative action, anti-communist, banking crisis, battle of ideas, Boycotts of Israel, Bretton Woods, British Empire, capital controls, central bank independence, Chelsea Manning, colonial exploitation, colonial rule, corporate social responsibility, credit crunch, cuban missile crisis, Deng Xiaoping, drone strike, Edward Snowden, energy security, energy transition, European colonialism, eurozone crisis, experimental subject, F. W. de Klerk, facts on the ground, failed state, financial innovation, Food sovereignty, Francis Fukuyama: the end of history, full employment, future of journalism, high net worth, invisible hand, Julian Assange, Kickstarter, liberal world order, Mikhail Gorbachev, millennium bug, Mohammed Bouazizi, Monroe Doctrine, Nelson Mandela, Northern Rock, Philip Mirowski, RAND corporation, Ronald Reagan, Silicon Valley, South China Sea, statistical model, structural adjustment programs, too big to fail, trade liberalization, trade route, UNCLOS, UNCLOS, uranium enrichment, Washington Consensus, WikiLeaks, zero-sum game, éminence grise

But there is less concern for what this means vis-à-vis Turkish democracy than for how it affects US interests: “[Prime Minister] Erdoğan and his ruling AK Party seem to have a firm grip on power … Nevertheless, Erdoğan and his party face enormous challenges if they are successfully to embrace core principles of open society, carry out EU harmonization, and develop and implement foreign policies in harmony with core US interests” [04ANKARA7211]. As one cable puts it, in spite of an “imperfect, crabbed” Turkish democracy that does not reach out to opponents, and the fact that “AK appointees at the national and provincial level are incompetent and narrow-minded Islamists,” still the US looks forward to “continuing to work with Turkey on behalf of common interests in Iraq, Afghanistan, the Caucasus, the Balkans, on terrorism, on energy security, on the Cyprus problem and elsewhere in the region and the world” [04ANKARA348_a]. A major interest for the US is the competition between the two dominant Islamic political currents in Turkey—Erdoğan’s AKP and the Gülen Community. While many of the observations in these cables are insightful, they also seem contradictory, a stance that puzzles even some Turkish observers.4 Fethullah Gülen, who currently lives in self-imposed exile in rural Pennsylvania, leads the Gülen Community.


pages: 1,510 words: 218,417

Lonely Planet Norway (Travel Guide) by Lonely Planet, Donna Wheeler

car-free, carbon footprint, centre right, energy security, illegal immigration, low cost airline, mass immigration, Mikhail Gorbachev, North Sea oil, place-making, Skype, sustainable-tourism, trade route, urban renewal

With an estimated 120,000 wild moose roaming the Norwegian wilds – the Norwegian authorities authorise an annual nationwide hunting quota of around 37,000 – that adds up to a disturbingly high output of methane, not to mention a heightened state of nervousness among otherwise innocent moose. The Future History of the Arctic by Charles Emmerson is an engaging exploration of the politics of the Arctic with a particular focus on the big issues of energy security, environmental protection and the exploitation of the region's natural resources. Commercial Fishing Fishing and aquaculture (fish farming) remain the foundation of Norway's coastal economy, providing work for an estimated 30,000 people in the fishing fleet, and a host of secondary industries. With an annual catch of around 2.5 to 3 million tonnes, Norway is the 10th-largest fishing nation in the world and one of the world's largest exporters of seafood.


pages: 801 words: 229,742

The Israel Lobby and U.S. Foreign Policy by John J. Mearsheimer, Stephen M. Walt

affirmative action, Ayatollah Khomeini, Boycotts of Israel, David Brooks, energy security, facts on the ground, failed state, invisible hand, oil shock, Project for a New American Century, Ralph Nader, Ronald Reagan, Silicon Valley, Thomas L Friedman, uranium enrichment, Yom Kippur War

Human Development Report 2006 (New York: United Nations Development Programme, 2006), http://hdr.undp.org/hdr2006/statistics; and Economist Intelligence Unit, “2005 Quality of Life Rankings,” www.economist.com/media/pdf/QUALITY_OF_LIFE.pdf. 40. Mitchell G. Bard and Daniel Pipes, “How Special Is the U.S.–Israel Relationship?” Middle East Quarterly 4, no. 2 (June 1997): 43. 41. Bishara A. Bahbah, “The United States and Israel’s Energy Security,” Journal of Palestine Studies 11, no. 2 (Winter 1982): 118–30. For the text of the original agreement, see “IsraelUnited States Memorandum of Understanding, September 1, 1975” and “Memorandum of Agreement between the Governments of the United States of America and Israel—Oil,” www.jewishvirtuallibrary.org/jsource/Peace/mou1975.html and www.jewishvirtuallibrary.org/jsource/Peace/cdoilmou.html.


Lonely Planet Norway by Lonely Planet

carbon footprint, cashless society, centre right, energy security, G4S, illegal immigration, Kickstarter, low cost airline, mass immigration, North Sea oil, place-making, trade route, urban renewal, white picket fence

Although no forestry operation can be entirely environmentally sound, Norway currently has one of the world's most sustainable forestry industries and much of the visible damage to the forests is due to agricultural clearing and timber overexploitation between the 17th and 20th centuries. The Future History of the Arctic (2011) by Charles Emmerson is an engaging exploration of the politics of the Arctic, with a particular focus on the big issues of energy security, environmental protection and the exploitation of the region's natural resources. Wilderness Areas Norway may have one of the lowest population densities in Europe, but due to its settlement pattern – which is unique in Europe, and favours scattered farms over villages – even the most remote areas are inhabited and a large proportion of the population is rural-based. As a result, the natural world has been greatly altered by human activities and the landscape is criss-crossed by roads that connect remote homes, farmsteads and logging areas to more populated areas.


pages: 1,042 words: 273,092

The Silk Roads: A New History of the World by Peter Frankopan

access to a mobile phone, Admiral Zheng, anti-communist, Ayatollah Khomeini, banking crisis, Bartolomé de las Casas, Berlin Wall, British Empire, clean water, Columbian Exchange, credit crunch, cuban missile crisis, Deng Xiaoping, discovery of the americas, drone strike, energy security, European colonialism, failed state, financial innovation, Isaac Newton, land reform, Mahatma Gandhi, Malacca Straits, mass immigration, Mikhail Gorbachev, Murano, Venice glass, New Urbanism, Ronald Reagan, sexual politics, South China Sea, spice trade, statistical model, Stuxnet, the built environment, the market place, The Wealth of Nations by Adam Smith, too big to fail, trade route, transcontinental railway, uranium enrichment, wealth creators, WikiLeaks, yield management, Yom Kippur War

It is perhaps an ominous sign that President Putin’s PhD dissertation was concerned with strategic planning and the uses of Russian mineral resources – even though some have cast doubt on the originality of the thesis, and even on the veracity of the award of a doctorate.17 To the east, these pipelines are bringing the lifeblood of tomorrow as China buys forward gas supplies on a thirty-year contract, worth $400 billion over its lifetime. This giant sum, partly to be paid in advance, gives Beijing the energy security it craves, while more than justifying the estimated $22 billion cost of a new pipeline, and providing Moscow freedom and additional confidence in how it deals with its neighbours and its rivals. It is no surprise then that China was the only member of the UN Security Council not to rebuke Russia for its actions during the Ukraine crisis of 2014; the cold reality of mutually beneficial trade is far more compelling than the political brinkmanship of the west.


pages: 956 words: 288,981

Ghost Wars: The Secret History of the CIA, Afghanistan, and Bin Laden, from the Soviet Invasion to September 10, 2011 by Steve Coll

airport security, Ayatollah Khomeini, Berlin Wall, Boycotts of Israel, centre right, colonial rule, computer age, energy security, failed state, Fall of the Berlin Wall, illegal immigration, index card, Islamic Golden Age, Khyber Pass, Mikhail Gorbachev, Network effects, RAND corporation, Ronald Reagan, trade route, upwardly mobile, urban planning, women in the workforce

In Turkmenistan, Kazakhstan, Azerbaijan, and Uzbekistan lay between 50 billion and 100 billion barrels of oil, plus nearly 250 trillion cubic feet of gas. The ex-Soviet governments in charge needed foreign companies to lift and export this energy.8 The Clinton administration’s policy, said its leading National Security Council expert, was to “promote the independence of these oil-rich countries, to in essence break Russia’s monopoly control over the transportation of oil in that region, and, frankly, to promote Western energy security through diversification of supply.” The Clinton White House supported “multiple pipelines” from Central Asia along routes that did not benefit Russia or Iran. Clinton believed that these pipelines were crucial to an evolving American energy policy aimed at reducing dependence on Middle Eastern supplies. Blocking Iran from Central Asia’s new oil riches was also a key goal of American policy, but there were only a few pipeline routes that could bypass Iran.


pages: 1,309 words: 300,991

Vanished Kingdoms: The Rise and Fall of States and Nations by Norman Davies

anti-communist, Berlin Wall, British Empire, Celtic Tiger, Corn Laws, en.wikipedia.org, energy security, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, labour mobility, land tenure, mass immigration, Mikhail Gorbachev, oil rush, oil shale / tar sands, Red Clydeside, Ronald Reagan, Skype, special economic zone, trade route, urban renewal, WikiLeaks

Lukashenko has proved resistant to all overtures for meaningful dialogue, always insisting that he will not accept ‘the imposition of alien values from outside’. Protracted discussions preceded the reluctant acceptance of Belarus as a member of the EU’s Eastern Partnership, inaugurated in May 2009. The Partnership complements the Union for the Mediterranean, which deals with the EU’s neighbours in North Africa and the Middle East; it aims to promote good governance, energy security, environmental protection and co-operation on common issues of trade, travel and migration.11 The presidential election of December 2010, therefore, took place amid considerable uncertainty. In the run-up to the elections, President Dmitri Medvedyev of Russia fired off a broadside, accusing Lukashenko of repeatedly breaking his promises; among other supposed offences, he had failed to recognize the independence of Abkhazia and South Ossetia, and had granted asylum to the ousted Kirghiz president, Bakiryev.


pages: 892 words: 91,000

Valuation: Measuring and Managing the Value of Companies by Tim Koller, McKinsey, Company Inc., Marc Goedhart, David Wessels, Barbara Schwimmer, Franziska Manoury

activist fund / activist shareholder / activist investor, air freight, barriers to entry, Basel III, BRICs, business climate, business cycle, business process, capital asset pricing model, capital controls, Chuck Templeton: OpenTable:, cloud computing, commoditize, compound rate of return, conceptual framework, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, discounted cash flows, distributed generation, diversified portfolio, energy security, equity premium, fixed income, index fund, intangible asset, iterative process, Long Term Capital Management, market bubble, market friction, Myron Scholes, negative equity, new economy, p-value, performance metric, Ponzi scheme, price anchoring, purchasing power parity, quantitative easing, risk/return, Robert Shiller, Robert Shiller, shareholder value, six sigma, sovereign wealth fund, speech recognition, stocks for the long run, survivorship bias, technology bubble, time value of money, too big to fail, transaction costs, transfer pricing, value at risk, yield curve, zero-coupon bond

Consider whether companies in mature, competitive industries should keep open high-cost plants that lose money, just to keep employees working and prevent suppliers from going bankrupt. To do so in a globalizing industry would distort the allocation of resources in the economy, notwithstanding the significant short-term local costs associated with plant closures.9 Energy companies have particularly difficult decisions to make. Government energy policy typically toggles between the goals of cost, energy security, and environmental impact. These do not easily line up in a way that makes for smooth integration into energy companies’ investment decisions. In practice, the companies need to make careful, balanced judgments around the trade-offs embedded in government policy actions in order to factor them into long-term value-creation strategies. And the greater the policy uncertainty, the harder it is for companies to create long-term value in a way that is good for efficient resource allocation and the health of the economy.


pages: 1,242 words: 317,903

The Man Who Knew: The Life and Times of Alan Greenspan by Sebastian Mallaby

"Robert Solow", airline deregulation, airport security, Andrei Shleifer, anti-communist, Asian financial crisis, balance sheet recession, bank run, barriers to entry, Benoit Mandelbrot, Bretton Woods, business cycle, central bank independence, centralized clearinghouse, collateralized debt obligation, conceptual framework, corporate governance, correlation does not imply causation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency peg, energy security, equity premium, fiat currency, financial deregulation, financial innovation, fixed income, Flash crash, forward guidance, full employment, Hyman Minsky, inflation targeting, information asymmetry, interest rate swap, inventory management, invisible hand, Kenneth Rogoff, Kickstarter, Kitchen Debate, laissez-faire capitalism, Long Term Capital Management, low skilled workers, market bubble, market clearing, Martin Wolf, money market fund, moral hazard, mortgage debt, Myron Scholes, new economy, Nixon shock, Northern Rock, paper trading, paradox of thrift, Paul Samuelson, plutocrats, Plutocrats, popular capitalism, price stability, RAND corporation, rent-seeking, Robert Shiller, Robert Shiller, rolodex, Ronald Reagan, Saturday Night Live, savings glut, secular stagnation, short selling, The Great Moderation, the payments system, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, unorthodox policies, upwardly mobile, WikiLeaks, women in the workforce, Y2K, yield curve, zero-sum game

If Saddam Hussein seemed unlikely to back down, the same was true for the United States, Greenspan explained to the committee. Saudi Arabia’s oil refineries were clustered in an area not far from Kuwait, rendering them vulnerable to attacks launched from Iraq’s new bases; some Iraqi pilots had already volunteered for kamikaze raids, Greenspan confided to his colleagues. Saddam Hussein’s ability to threaten Saudi Arabia, coupled with his control over Kuwait’s oil, would pose unacceptable risks to U.S. energy security. “If Saddam is perceived to be increasing his power and his clout and his control over the West, he is going to be able to name OPEC’s level of output. He has terrorist groups out there and he can control Indonesia and every far-flung oil producer in the world.” In Greenspan’s opinion, Saddam had to be confronted.10 Having cowed his colleagues with his military insights, Greenspan advanced his monetary prescription: do nothing.


Reaganland: America's Right Turn 1976-1980 by Rick Perlstein

"Robert Solow", 8-hour work day, affirmative action, airline deregulation, Alistair Cooke, American Legislative Exchange Council, anti-communist, Ayatollah Khomeini, Berlin Wall, Bernie Sanders, Brewster Kahle, business climate, clean water, collective bargaining, colonial rule, COVID-19, Covid-19, creative destruction, crowdsourcing, cuban missile crisis, currency peg, death of newspapers, defense in depth, Deng Xiaoping, desegregation, Donald Trump, energy security, equal pay for equal work, facts on the ground, feminist movement, financial deregulation, full employment, global village, Golden Gate Park, illegal immigration, In Cold Blood by Truman Capote, index card, indoor plumbing, Internet Archive, invisible hand, Julian Assange, Kitchen Debate, kremlinology, land reform, Marshall McLuhan, mass immigration, MITM: man-in-the-middle, Monroe Doctrine, moral panic, mutually assured destruction, New Journalism, oil shock, open borders, Potemkin village, price stability, Ralph Nader, RAND corporation, rent control, road to serfdom, Robert Bork, rolodex, Ronald Reagan, Rosa Parks, Saturday Night Live, Silicon Valley, traveling salesman, unemployed young men, union organizing, unpaid internship, Unsafe at Any Speed, Upton Sinclair, upwardly mobile, urban decay, urban planning, urban renewal, wages for housework, walking around money, War on Poverty, white flight, WikiLeaks, Winter of Discontent, yellow journalism, Yom Kippur War, zero-sum game

By devoting “the most massive—peacetime—commitment—of funds and resources in our nation’s history to develop America’s own alternative source of fuel.” (Announcing a federal corporation to issue $5 million in energy bonds, Carter shrewdly harkened back with nostalgia for America’s all-encompassing civic mobilization during World War II: “I especially want them to be in small denominations so that average Americans can invest directly in America’s energy security.”) By mandating that utility companies switch to other fuels to cut their use of oil by half within the next decade. By creating “the nation’s first solar bank, which will help us achieve the crucial goal of 20 percent of our energy coming from solar power by the year 2000”—again, “just as a similar synthetic rubber corporation helped us win World War II.” And finally, with “a bold conservation program to involve every state, county, and city and every average American in our energy battle.… Working together with our common faith, we cannot fail