Category Archives: Technology and Society

Business, Economics, Media Criticism, Political Commentary, Technology and Society

Oil And Gas

4 Comments

The new green energy:

…as profits from wind, solar, biofuels and other alternatives consistently fell short of expectations — and as the fossil fuel business boomed — things got complicated. Venture capitalists and other investment funds started stretching the definition of clean technology almost beyond recognition in an effort to make money while clinging to their environmental ideals.

Today, clean technology investment funds are not trying to replace the fossil fuel industry, they’re trying to help it by financing companies that can make mining and drilling less dirty. The people running these funds acknowledge the apparent hypocrisy, but defend a more liberal definition of clean technology.

“Oil and gas will be with us for a long time. If we can clean that up we will do the world a great service,” says Wal van Lierop, CEO of Chrysalix, a Vancouver, Canada-based venture capital firm founded in 2001.

Shat a shock, that profits “consistently fell short of expectations.” Perhaps, like the president and his campaign-donating cronies, they had unrealistic expectations. Or more likely for the latter, they just expected the taxpayer to make up the difference.

Business, Economics, Media Criticism, Political Commentary, Science And Society, Technology and Society

The Green EU

11 Comments

It took an economic disaster for them to reduce their carbon output:

But the data shows that even though EU economic weakness and US natural gas are responsible for significant drops in emissions in the developed world, developing countries, led by China, continue to drive the global total higher.

This underscores the disconnect between green policies and green results. The US hasn’t checked off many items on the green wish list for domestic legislation; Europe has. But it turns out that the introduction of the euro and the subsequent economic disaster had more to do with European emissions drops than Kyoto or the shambolic carbon-trading program.

The usual suspects are headed to Bonn next week for another forlorn attempt to carve out a meaningful global climate treaty. Meanwhile in the real world, the challenge is to find a way for developing countries to continue rapid growth without driving greenhouse gasses and other pollutants to potentially dangerous levels.

That’s assuming that the high levels of the “other” “pollutants” is more dangerous than slow economic growth, of course. And meanwhile, it turns out that the US has twice as much oil, and three times as much gas as we thought. And “peak oil” continues to recede into the future, to the tears of the Malthusians. Which are delicious.

[Update a while later]

Gazprom (and the Russian economy) are in trouble, too:

The US has begun exporting gas to Europe, and has also ramped up coal exports by more than 250 percent since 2005. The net result has been to knock Gazprom back on its heels. The WSJ reports that the negotiations with Bulgaria were heated, with Gazprom’s negotiators shouting in frustration on several occasions.

In public statements, however, the Russian company remains defiant (and perhaps in a state of denial) about the implications of the shale gas boom…

Well, that’s one tactic, I guess. Not one I’d recommend, though.