Weekly Climate and Energy News Roundup #394

The Week That Was: January 11, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “The only thing more dangerous than ignorance is arrogance.” – Albert Einstein

Number of the Week: 79% up 16% in two years

Green Arrogance: Regardless of the political system, or ideology, arrogance can lead to destructive actions contrary to the interests of the public. History produces many examples, including major wars. We are seeing examples of arrogance in so called “green” laws and regulations which are actually contrary to nature. Humans can modify and use nature for their benefit but cannot regulate it. Unfortunately, politicians frequently ignore limits of power when passing sweeping laws and regulations. This week, three examples of arrogance, or hubris, are evident: 1) bushfires in Australia; 2) closing the Crescent Dunes power plant in Nevada; and 3) the continuation of a 2.5 gigawatt (GW) off-shore wind project off the coast of Virginia Beach ordered by the governor of Virginia.

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Weaker Than Expected Payrolls

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

The U.S. created 145,000 jobs in December, following an increase of 256,000 in November (after a downward revision), as the chart below shows. The nonfarm payrolls came below expectations, as the analysts forecasted 165,000 new jobs. The gains were widespread, but with a leading role of retail trade (+41,200), leisure and hospitality (+40,000), and education and health services (+36,000). Manufacturing again cut jobs (-12,000), which means that industrial recession has not ended. Mining and transportation and warehousing also dismissed workers.

Chart 1: U.S. nonfarm payrolls (green bars, left axis, change in thousands of persons) and the unemployment rate (red line, right axis, %) from January 2015 to December 2019.

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Tariffs Are Having A Bigger Effect On US Manufacturing Than Initially Thought

By Frank Holmes – Re-Blogged From Gold Eagle

The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years. The purchasing manager’s index (PMI) fell to 47.2, a level we haven’t seen since June 2009, as global trade tensions continued to take a toll on the country’s manufacturers.

The news comes as two new papers indicate that U.S. tariffs on imported goods, particularly those originating in China, have had more of an impact on manufacturing and industrial output than initially believed.

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Margaret Thatcher: The Woman Who Saved Great Britain

Niall Ferguson

You’ve heard her name. You might even have seen a film about her. Bhttps://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/ut do you know the whole story of Margaret Thatcher – where she came from, what she stood for, and the impact she had on Great Britain and the world? Renowned historian Niall Ferguson explains how the Iron Lady earned her status as one of the most important and influential women of the 20th century.

Please watch the VIDEO.

CONTINUE READING –>https://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/

A Second US Industrial Revolution

  By Bob Shapiro

Retail prices for electricity vary widely in the US, from about 8 cents per kilowatt hour in Washington and West Virginia to 19 cents in California. But you wouldn’t know even from the 8 cent price that there is an ongoing revolution in what it costs utilities to generate all that power.

A new generation of combined cycle, gas fired power plants now produce electricity for well under 2 cents per kilowatt hour, while the utilities’ cost to build the power plants has fallen to well under $1000 per kilowatt hour (KwH). While these facilities emit much less CO2 than coal fired power plants, greens concerned about climate change still don’t like the combined cycle gas fired variety because they put out any CO2. You can’t please some people.

Now, a new technology is emerging which will be competitive with the combined cycle versions on cost to build and cost to produce electricity, and the newer plants will emit ZERO CO2! Actually, since part of their process will remove some CO2 from the atmosphere, you could call these negative emission power plants.

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Law Could Upend California’s Gig Economy

By Associated Press – Re-Blogged From Headline Wealth

California law that makes it harder for companies to treat workers as independent contractors takes effect next week, forcing small businesses in and outside the state to rethink their staffing.

The law puts tough restrictions on who can be independent contractors or freelancers rather than employees.

Supporters say it addresses inequities created by the growth of the gig economy, including the employment practices of ride-sharing companies like Uber and Lyft that use contractors.

But the union-backed legislation went far beyond demanding that drivers be treated like employees. In theory, it could extend to everything from hospice and home healthcare workers to babysitters to newspaper employees and even (depending on the laws) workers in the sex trade..

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Statistical Misdirection

By Alasdair Macleod – Re-Blogged From Gold Eagle

Economists who understand credit cycles expect the current cycle to enter its crisis stage at any moment. Furthermore, it combines with increasing trade tariffs between the two largest economies to echo the conditions that led to the 1929-32 Wall Street crash and the subsequent depression.

With the dollar tied to gold, there was no doubt about how the collapse in demand affected asset, commodity and consumer prices ninety years ago. If the turn of the current cycle leads to a similar outcome, it is unlikely to be properly reflected in official statistics for GDP.

This article explains why GDP is a statistical fallacy, and the use of an inflation deflator is not only inappropriate but has been manipulated to produce an outcome that wrongly attributes success to monetary policies. Therefore, if an economic slump follows the coming credit crisis, it is unlikely to be reflected in these key government statistics.

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