Why it’s becoming drenched in it.
Category Archives: Economics
Minimum-Wage Hikes
No, some conservatives, they’re not a form of welfare reform.
The GOP needs to stop negotiating over the price, and point out what an unfederalist and stupid policy a one-size-fits-all federal minimum wage is.
ObamaCare
Hey, wasn’t it supposed to save money?
It’s like it’s lies all the way down.
Judith Curry’s Testimony
She’s written up the conclusions that she presented to the Senate yesterday:
If the recent warming hiatus is caused by natural variability, then this raises the question as to what extent the warming between 1975 and 2000 can also be explained by natural climate variability. In a recent journal publication, I provided a rationale for projecting that the hiatus in warming could extend to the 2030’s. By contrast, according to climate model projections, the probability of the hiatus extending beyond 20 years is vanishing small. If the hiatus does extend beyond 20 years, then a very substantial reconsideration will be needed of the 20th century attribution and the 21st century projections of climate change.
Attempts to modify the climate through reducing CO2 emissions may turn out to be futile. The stagnation in greenhouse warming observed over the past 15+ years demonstrates that CO2 is not a control knob that can fine tune climate variability on decadal and multi-decadal time scales. Even if CO2 mitigation strategies are successfully implemented and climate model projections are correct, an impact on the climate would not be expected for a number of decades. Further, solar variability, volcanic eruptions and natural internal climate variability will continue to be sources of unpredictable climate surprises.
As a result of the hiatus in warming, there is growing appreciation for the importance of natural climate variability on multi-decadal timescales. Further, the IPCC AR5 and Special Report on Extreme Events published in 2012, find little evidence that supports an increase in most extreme weather events that can be attributed to humans.
The perception that humans are causing an increase in extreme weather events is a primary motivation for the President’s Climate Change Plan. However, in the U.S., most types of weather extremes were worse in the 1930’s and even in the 1950’s than in the current climate, while the weather was overall more benign in the 1970’s. The extremes of the 1930’s and 1950’s are not attributable to greenhouse warming and are associated with natural climate variability (and in the case of the dustbowl drought and heat waves, also to land use practices). This sense that extreme weather events are now more frequent and intense is symptomatic of pre-1970 ‘weather amnesia’.
Not to mention wishful thinking. After all, it they can’t attribute current weather events to carbon, it takes away one more excuse for them to run our lives.
Remember Peak Oil?
Out: Peak Oil.
In: Peak oil demand.
And it’s good news for the airlines and travelers, and bad news for the aircraft manufacturers:
The losers in this scenario would be aircraft manufacturers, which have built up record backlogs on a cocktail of high fuel prices, low cost of capital, and new technology. Lower oil prices mean new aircraft models promising 15-20% fuel consumption reduction are not as attractive from a financial perspective. Coupled with the current trend of increasing cost of capital, this could mean a wave of cancellations of sexy new aircraft models. Or it could mean manufacturers need to revisit pricing assumptions. What is a fair price for a new widebody like the Boeing 777X, for example, in an $85/barrel world where its annual fuel cost falls by $3-4 million?
All is happening as I have foreseen.
3D Printing Advances
Printing aircraft structural parts.
A Private Railroad
…is born in Florida.
I think a high-speed rail between LA and Vegas could potentially make sense, if they tunnel through the mountains.
[Update a couple minutes later]
Here’s an older article about the project. The FEC line runs a couple miles blocks from the house we own in Boca Raton.
Capitalism
Some thoughts on the false history of its evils.
Half-Price Gasoline
Manufactured from cheap natural gas?
That would be a huge breakthrough.
ObamaCare
It’s not working as advertised, but it is working according to its design.