Those of us lucky enough to live in the developed economies of Western Europe have been fortunate enough to avoid the worst effects of climate change despite being largely responsible for it… until now. But a new study in the journal Climatic Change has found that this is about to …
Read More »Burning river highlights need to follow the precautionary principle
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) says that increased methane release in the Condamine River in Queensland is “unlikely” to be due to fracking. In an interview in the Guardian, CSIRO responded to a video posted to Facebook by Green MP Jeremy Buckingham. The video shows Buckingham setting …
Read More »Renewable energy bankruptcies begin
The end of the 2015/16 financial year has seen a wave of insolvencies in the renewable energy sector according to the Yorkshire Post. The wave of bankruptcies and redundancies are directly attributable to the UK government’s decision to scrap subsidies and impose new taxes on the industry: “According to the …
Read More »Half of the world’s oil has vanished… and the remaining half is expensive
Economists and politicians have been reassured that there is twice as much oil beneath the ground as humanity has used to date. However, international security expert Nafeez Ahmed argues that nearly half of the 1.7 trillion barrels of oil still to be recovered does not actually exist. The discrepancy, reported …
Read More »British banks in worst state since 2008
Britain’s top banks are set for one of their worst first-quarter earnings seasons since the financial crisis, according to Lawrence White and Andrew Macaskill at Reuters: “Despite shoring up their capital bases and paying out strong dividends, the five biggest banks – HSBC (HSBA.L), Barclays (BARC.L), Standard Chartered (STAN.L), Lloyds …
Read More »Central bank policies are killing the economy
Hedge fund tycoon Crispin Odey and Societe Generale strategist Albert Edwards have both separately warned that another banking crisis is looming; and both believe central bank monetary policy is to blame. According to Odey bank profitability is falling: “Banks need rights issues to deal with these losses but why would …
Read More »Climate denial is about privilege
There is a big social division opening up over climate change according to Dana Nuccitelli at The Bulletin of Atomic Scientists. It is common knowledge that people with conservative political beliefs are more likely to reject evidence for man-made climate change. But this is far from the only division. Encouragingly, …
Read More »Corporate America backs climate action
In a snub to climate denying politicians, US corporations have been queuing up to support new regulations designed to meet the carbon reduction targets in the Paris Agreement. According to Benjamin Hulac in Scientific American: “More than 100 companies—including brand-name firms like Hilton Worldwide Holdings Inc., HP Inc., Johnson & …
Read More »Centrica u-turns on renewables
Centrica – the parent company of British Gas – has made a u-turn on its approach to energy generation according to Emily Gosden at the Telegraph. Previously, Centrica’s manifesto for cutting wind farms in favour of more large gas-fired power stations helped to inform the current UK energy policy. However, …
Read More »The real immigrant crisis
Scientists at Umea University, Sweden warn that climate change is increasing the habitat range of mosquitos that were previously restricted to tropical regions. A combination of tourism and warming has already allowed mosquitos to migrate into Southern Europe in high summer. However, as the northern hemisphere temperature increases, both the …
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