The last (I hope) extract from the climate change chapter of Economic Consequences of the Pandemic. I’m in two minds about whether this is really needed. The group of pro-nuclear environmentalists seems to be shrinking towards a hard core who can’t be convinced (and some of them, like Shellenberger turn out to have been concern trolls all along). But every now and then I run across people who seem open-minded enough, but haven’t caught up with the bad news on nuclear.
Sandpit
A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.
To be clear, the sandpit is for regular commenters to pursue points that distract from regular discussion, including conspiracy-theoretic takes on the issues at hand. It’s not meant as a forum for visiting conspiracy theorists, or trolls posing as such.
Monday Message Board
Back again with another Monday Message Board.
Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link
http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page and at my Economics in Two Lessons page
The full-court press
Another excerpt from the climate chapter of my book-in-progress, Economic Consequences of the Pandemic. Comments, constructive criticism and compliments all appreciated.
Read More »A zombie loan proposal re-emerges
2020 has not been a good year for thermal coal. Trends that were already underway have accelerated as a result of the pandemic. As the energy source with the highest marginal cost of operation coal has borne the brunt of reductions in electricity demand. As a result, planned closures have been brought forward, and new closures announced.
Financial institutions have announced ever more stringent divestiture policies, making new coal mines and coal-fired power stations increasingly uninsurable and unbankable. Insurance premiums for new and existing coal projects have risen https://www.eceee.org/all-news/news/news-2020/while-coal-premiums-soar-insurance-groups-still-supports-oil-and-gas/
National governments including tmajor coal consumers like China, South Korea and Japan have announced plans to reach zero net emissions by 2050 or 2060. Reaching this target implies a rapid end to new coal projects, and an accelerated phase out of existing ones.
It is striking, then, that emerging reports suggest that the State Bank of India might lend $1 billion to Bravus, the absurdly renamed Adani Mining, to finance its Carmichael coal and rail project in the Galilee Basin. A similar proposal, which reached the stage of a memorandum of understanding, was considered and rejected back in 2014.
Read More »The path to decarbonization
Over the fold, another draft section of the climate chapter of Economic Consequences of the Pandemic. As always, comments, compliments and criticism appreciated
Read More »Monday Message Board
Back again with another Monday Message Board.
Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link
http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page and at my Economics in Two Lessons page
We’re all “real Australians”
That’s the title for my latest piece in Inside Story. Opening para
One of the most tired tropes in Australian politics involves identifying some part of the country (or a particular occupational or identity group) as the “real Australians” who must be catered to in order to win or retain government. In the last decade or so, we’ve been through rural and regional Australia, Western Sydney, Queensland, “tradies,” “people of faith” and probably a few I haven’t noticed.
Climate, health and the pandemic
Another extract from the climate chapter of my book-in-progress, Economic Consequences of the Pandemic, over the fold
Read More »Paying for what we used to own: The strange case of CSL
That’s the headline for my latest piece in Independent Australia. Opening paras
AS WE WAIT anxiously for the arrival of a COVID-19 vaccine, which will be made overseas, most Australians will welcome the news that a new vaccine manufacturing plant will be built in Melbourne to produce vaccines for influenza and Q fever (and possibly for future pandemics), as well as antivenenes for snake and spider bites.
The plant is the result of a deal between the Commonwealth Government and Seqirus, a subsidiary of global biopharmaceutical firm CSL. Under the deal, the Commonwealth commits to pay $1 billion over ten years for a variety of products including antivenenes.
At this point, those with long memories might recall that the “C” in CSL once stood for “Commonwealth” and that the Commonwealth Serum Laboratories began producing vaccines and antivenenes more than 100 years ago. Under public ownership, CSL developed both polyvalent antivenene against all the major Australian land snakes and the first Q fever vaccine. Why then, are we paying nearly $1 billion to a company we once owned to provide pharmaceutical products that were developed when we owned it?
Concluding para
In 30 years of privatisation in Australia, there has not been a single case where the public would not have been at least as well off if the asset had remained in public ownership. Turning this around, there is now a strong case for renationalisation of a wide range of private assets, including roads, electricity transmission and distribution network and airports. It is time to call the failed experiment of privatisation to a halt.
John Quiggin 