Category Archives: energy

Not ‘commercially viable’? Fracking: environmentally, socially and financially a bad investment

The decision to sell its share in Third Energy, announced by Barclay’s chairman will be welcomed by many. Mainstream media, however, are failing to report this; five pages were searched and all witnessed to publicity coming only from campaigning groups – a snapshot of the first page may be seen below.

Third Energy, a Barclays subsidiary, which had a licence to frack just south of the North York Moors national park has “not become a profitable investment”. This is due to local opposition, which delays companies’ progress, according to Barclay’s chairman John McFarlane, speaking at the bank’s annual general meeting.

Barclays’ has now announced that it will sell its stake in fracking company Third Energy “in due course”.

Steve Mason of local campaign group Frack Free Ryedale said in a press release: “Clearly fracking is a bad investment environmentally, socially and financially. Where is the long term future of this industry? Why would you put money into an industry that is increasingly rejected by communities and could get banned at anytime?”

 

 

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Moving towards a new, balanced, green economy

Dr Christine Parkinson’s recently published book sets out the following series of measures which could move us towards a new, balanced, green economy:

  • introducing greater incentive schemes to encourage businesses to develop, use and market greener technologies and to penalise those who don’t. Examples of this could include: using and developing renewable forms of energy; phasing out motor vehicles which use petrol or diesel and introducing those that run on easily-accessible clean energy;
  • investing in research institutions which have the ability to develop innovative solutions to today’s climate-change problems;
  • introducing legislation to reduce the use of the motor car, such as restricting the number of cars owned by each household, unless they run on clean energy;
  • phasing out coal-fired power generation, ending fossil fuel subsidies;
  • introducing a carbon tax on those companies who continue to use fossil fuels;
  • rebalancing the economy, so that the rich are not rewarded for irresponsible behaviour that adds to the carbon load;
  • setting targets for meaningful reductions in carbon emissions by an early date, as suggested by Desmond Tutu in his petition (chapter 1) and ensuring that the calculations for this are correct;
  • phasing out nuclear power and nuclear weapons worldwide and re-channelling the money saved into the incentive-schemes and investments mentioned above;
  • proper funding of those institutions regulating the tax system, so that tax evasion and avoidance is properly penalised;
  • shifting the tax system to penalise those activities which need to be discouraged, such as greenhouse gas emissions and the accumulation of wealth;
  • banning certain household appliances and gadgets, which are not necessary and only add to the carbon load;
  • establishing a new institution, which will monitor the use of fossil fuels by companies and promote, and provide support for, the use of greener forms of energy;
  • encouraging less air travel, by raising awareness about the damage this is doing to the planet and encouraging airlines to invest instead in technologies that do not damage the planet;
  • working globally with other partners to reduce deforestation;
  • re-balancing international trading systems, so that goods and animals are not transported unnecessarily across continents and seas, adding to the carbon load;
  • encouraging countries worldwide to be self-sufficient in terms of goods and resources, so that goods are not imported which can be produced internally;
  • re-thinking and re-balancing entirely transnational trading systems;
  • working globally to find a better means of international co-operation in working jointly to reduce and reverse that damage that is currently being done to the planet;
  • encouraging partnerships between local government and local cooperatives and social enterprises;
  • encouraging the setting up of local groups (3G groups), where individuals can meet together to share what they are doing to reduce their carbon emissions and to encourage each other to keep going with it, even if the majority of others are still in denial (3G stands for three generations – the amount of time we have left).

She continues: “Some of the ideas above are already being worked on, and others are not about changing the economic system but about reducing carbon emissions, but I hope these are a starting point for others to add to, if we are really serious about taking meaningful anti-climate-change measures before it is too late”. 

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“Three generations Left” can be ordered direct from the publishers, using this link. Whilst much of the book is viewable on this website, she would prefer you to buy a copy as any profits from the sale of this book will be used to fund her son’s work amongst slum children in Uganda.  Last year was a difficult one for this project (Chrysalis Youth Empowerment Network), as due to the devaluation of the pound post-Brexit, monies sent from the UK to Uganda had lost a fifth of their value. Contact:  ChristineEP21@gmail.com.

 

 

 

 

Moving towards a new, balanced, green economy

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In her recently published book, Dr Christine Parkinson sets out a series of measures which could move us towards a new, balanced, green economy:

 

  • introducing greater incentive schemes to encourage businesses to develop, use and market greener technologies and to penalise those who don’t. Examples of this could include: using and developing renewable forms of energy; phasing out motor vehicles which use petrol or diesel and introducing those that run on easily-accessible clean energy;
  • investing in research institutions which have the ability to develop innovative solutions to today’s climate-change problems;
  • introducing legislation to reduce the use of the motor car, such as restricting the number of cars owned by each household, unless they run on clean energy;
  • phasing out coal-fired power generation, ending fossil fuel subsidies;
  • introducing a carbon tax on those companies who continue to use fossil fuels;
  • rebalancing the economy, so that the rich are not rewarded for irresponsible behaviour that adds to the carbon load;
  • setting targets for meaningful reductions in carbon emissions by an early date, as suggested by Desmond Tutu in his petition (chapter 1) and ensuring that the calculations for this are correct;
  • phasing out nuclear power and nuclear weapons worldwide and re-channelling the money saved into the incentive-schemes and investments mentioned above;
  • proper funding of those institutions regulating the tax system, so that tax evasion and avoidance is properly penalised;
  • shifting the tax system to penalise those activities which need to be discouraged, such as greenhouse gas emissions and the accumulation of wealth;
  • banning certain household appliances and gadgets, which are not necessary and only add to the carbon load;
  • establishing a new institution, which will monitor the use of fossil fuels by companies and promote, and provide support for, the use of greener forms of energy;
  • encouraging less air travel, by raising awareness about the damage this is doing to the planet and encouraging airlines to invest instead in technologies that do not damage the planet;
  • working globally with other partners to reduce deforestation;
  • re-balancing international trading systems, so that goods and animals are not transported unnecessarily across continents and seas, adding to the carbon load;
  • encouraging countries worldwide to be self-sufficient in terms of goods and resources, so that goods are not imported which can be produced internally;
  • re-thinking and re-balancing entirely transnational trading systems;
  • working globally to find a better means of international co-operation in working jointly to reduce and reverse that damage that is currently being done to the planet;
  • encouraging partnerships between local government and local cooperatives and social enterprises;
  • encouraging the setting up of local groups (3G groups), where individuals can meet together to share what they are doing to reduce their carbon emissions and to encourage each other to keep going with it, even if the majority of others are still in denial (3G stands for three generations – the amount of time we have left).

She continues: “Some of the ideas above are already being worked on, and others are not about changing the economic system but about reducing carbon emissions, but I hope these are a starting point for others to add to, if we are really serious about taking meaningful anti-climate-change measures before it is too late”. 

* 

Christine will be speaking in Birmingham on April 22nd.

“Three generations Left” can be ordered direct from the publishers, using the following link: http://www.newgeneration-publishing.com/bookstore/reference/bookdetails/1778 or can be ordered from the Amazon website, print on demand, as follows: https://www.amazon.co.uk/Three-Generations-Left-Activity-Destruction/dp/1787190412/ref=sr_1_1?s=books&ie=UTF8&qid=1483704765&sr=1-1&keywords=Christine+Parkinson

It is priced at £11.99 per copy in paperback or £4.99 for an ebook.

Whilst much of the book is viewable on this website, she would prefer you to buy a copy as any profits from the sale of this book will be used to fund her son’s work amongst slum children in Uganda.  Last year was a difficult one for this project (Chrysalis Youth Empowerment Network), as due to the devaluation of the pound post-Brexit, monies sent from the UK to Uganda had lost a fifth of their value.

Contact: christine@cyen.org.uk

 

 

 

Edited extracts from Progressive Protectionism: migration, immigration

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Colin Hines describes the open borders to movement of people within Europe as undemocratic and anti-internationalist, stealing the brightest and the best from poorer countries.

Britain is the world’s second largest importer of health workers after the US, including more than 48,000 doctors and 86,000 nurses in 2014, despite the fact that in 2010, along with all WHO members, the UK signed the ‘Global Code of Practise on the International Recruitment of Health Personnel’, which ‘encourages countries to improve their health workforce planning and respond to their future needs without relying unduly on the training efforts of other countries, particularly low-income countries suffering from acute shortages’.

Crucially the recipient countries must rapidly train enough doctors and nurses for example from their own population to prevent the shameful theft of such vital staff from the poorer counties which originally paid for their education.

Migration’s boost to population levels in the richer countries results in a larger ‘ecological footprint’ than would otherwise be the case. An ecological footprint is the measure of human impact on the Earths ecosystems. WWF defines it as ‘the impact of human activities measured in terms of the area of biologically productive land and water required to produce the goods consumed and to assimilate the wastes generated.

The crucial thing is to tackle the root cause of why people leave their friends and culture in the first place. This is normally because their economic prospects or level of personal safety are bad enough to force them to emigrate. The replacement of the present system, code name international competitiveness, which pits nation states against nation states in economic warfare, and export led growth will both be drastically reduced as the emphasis shifts to protecting and rebuilding local economies.

Since 2004 there has been a rapid and uncontrollable rise in immigration as millions of workers from the new member states in Eastern Europe came to Western Europe. In the UK, a favourite destination, the number of East Europeans here has increased by nearly one million since 2004, when it stood at 167,000. This has led to increased pressure on local services and housing, and a downward pressure on the wages of the unskilled in particular.

In a dense, long and fully referenced chapter Hines points out that these large-scale migrations occurred at a time when on average, between 65-70% of households in 25 high-income economies experienced stagnant or falling real incomes between 2005 and 2014. The income of the bottom 90% of their populations has stagnated for over 30 years. This has unsurprisingly led to a political backlash.

Progressive Protectionism aims to reduce permanently the amount of international trade in goods, money and services and to enable nation states to decide the level of migration that their citizens desire. This would take our continent into a new more hopeful future by offering the majority a localist programme that the left, green and small ‘c’ conservatives could unite around, bringing a sense of economic security and controlled immigration, similar to that enjoyed in Western Europe during the fifties, sixties and early seventies.  

See: http://progressiveprotectionism.com/wordpress/

Colin Hines will be speaking on Progressive Protectionism in Birmingham on April 22nd.

 

 

 

Theresa May, please note the shift in Sweden’s government focus on reducing carbon emissions

sweden-incin-jpg-653x0_q80_crop-smart

Currently Sweden incinerates about 50% of its waste to make heat and energy – emitting carbon dioxide – some years even importing a large amount of trash from other countries. Its current government admits that this is not really recycling and that it takes less energy to actually recycle and reuse than it does to burn and manufacture a replacement from scratch.

We now read that Sweden’s ruling Social Democrat and Green party coalition is to submit proposals to parliament to slash the VAT rate on repairs to bicycles, clothes and shoes from 25% to 12%.

Take for example France, which, in 2015 passed a law outlawing planned obsolescence and requiring manufacturers to offer consumers free repairs or replacement parts on appliances up to two years after the date of purchase. Like the proposals in Sweden, the French law — Germany and Norway have similar laws on the books, as well — aims to curb the amount of waste entering landfills, keep money in the pockets of hand wringing-prone consumers and generate jobs in the appliance repair sector.

sweden-bikerepair-jpg-653x0_q80_crop-smart

MNN notes that the Swedish coalition will also submit a proposal that would allow people to claim back from income tax half of the labour cost on repairs to appliances such as fridges, ovens, dishwashers and washing machines.

The hope is that the tax break on appliances will spur the creation of a new home-repairs service industry, providing much-needed jobs for new immigrants who lack formal education.

Sweden has cut its annual emissions of carbon dioxide by 23% since 1990 and already generates more than half of its electricity from renewable sources. But emissions linked to consumption have continued to rise.

Per Bolund, Sweden’s minister for financial markets and consumer affairs and one of six Green party cabinet members says that the new policies tie in with international trends around reduced consumption and crafts, such as the “maker movement” and the sharing economy, both of which have strong followings in Sweden, “There is an increased knowledge that we need to make our things last longer in order to reduce materials’ consumption,” he said.

The proposals will be presented in parliament as part of the government’s budget proposals and, if voted through in December, will become law from 1 January 2017.

 

 

 

Elect a public-spirited prime minister with the nerve to take on corporate ‘titans’

edward luceEdward Luce, an English journalist and the Financial Times’ chief US commentator and columnist based in Washington, DC, comments:

”The last people to grasp that things have gone wrong are the wealthy, the well-connected and the cognitive elites” . . .

“The wealthy’s share of the economy has risen sharply since the start of the century. The share of corporate profits in the economy has also soared. If you are rich you can afford what used to be normal for everyone — the privilege of interacting with human beings (in the service sector)”.

Thus:

  • high net worth individuals receive personalised banking, where their bank manager knows their name and needs.
  • The wealthy also benefit from so-called concierge health services, which come with a human face.
  • Many oligopolistic service providers keep clandestine lists of VIP customers who need not wade through robotic software before reaching a customer service agent. When they pick up the phone, a human answers.

Ordinary consumers, much like most voters, know there are different rules for them. They also sense that the big service providers pay more attention to regulators than to their disaffected customers. It is a perfectly rational thing to do.

The top companies have markedly increased their market share in the past decade and this has led to a lack of real competition — giving them licence to treat consumers with impunity in the telecoms, information technology, transport, retail services and banking sectors.

Politicians rank their priorities in much the same order. Voters come low on their list.

Lawmakers devote time to raising money from donors. In most areas, the voter barely matters since gerrymandering or the party elite will have has rigged the election. Politicians with large war chests are far less likely to be challenged for their party’s nomination. The same logic leads companies to keep a strong lobbying presence in government circles.

Luce asks “So what can people do? As consumers very little”.

But to elect a public-spirited prime minister with the nerve to take on corporate ‘titans’ would be great populism and smart policy.

 

 

 

New generation QE could stimulate the economy, boost employment and tackle climate change

The Times reports that Howard Archer, chief economist at IHS Global Insight, predicts that quantitative easing, which has been on hold since 2012, will be revived in August, with an extension of the Funding for Lending Scheme, which provides cheap finance for major lenders in an attempt to get credit flowing.

QE – as currently administered – sees the Bank pumping money into the financial system by buying bonds from financial institutions. Adam Marshall, acting director general of the British Chambers of Commerce, said the employers’ group would support more QE in principle “given the exceptional circumstances of the Brexit vote”. However, he called for QE to be overhauled and “aimed at injecting money into corporates and small and medium-sized companies”.

Others would advocate more widely beneficial applications; a new-generation quantitative easing programme could stimulate the economy, boost employment and tackle climate change instead of – as before – simply adding more cash to bank balance sheets and inflating asset prices.

The latest policy proposal is Green Infrastructure Quantitative Easing (GIQE). Last year, economist Richard Murphy addressed the Convention of Scottish Local Authorities to present this in detail as a programme that would buy bonds issued by the Green Investment Bank to fund making every building in the UK energy efficient, and, where feasible, fitted with solar panels, which would reduce energy bills and in the process tackle fuel poverty and cut greenhouse gas emissions. In addition, it would fund sustainable energy projects and enable local authorities to pay for new houses, NHS trusts to build new hospitals and education authorities to build schools.

gnd coverThis concept of directing quantitative easing to fund the greening of the UK’s infrastructure was first included in the 2013 report ‘A National Plan for the UK’, issued by the Green New Deal Group, convened by Colin Hines.

The new economics foundation also published a substantial 2013 report ‘Strategic quantitative easing’, apparently targeted at the banking world, with an extensive analysis of the current monetary system and applications of quantitative easing and a reference to its role in increasing exports in addition to the Green Deal and housebuilding references.

MP Caroline Lucas persuasively summarised the proposal in the New Statesman:

“GIQE could contribute to strengthening the UK economy via a carefully costed, nationwide programme to train and employ a ‘carbon army’. This army would be at the frontline of the fight against cold homes by making all of the UK’s 30 million buildings energy efficient, and, where feasible, fitted with solar panels. This would, in the first instance, dramatically reduce energy bills and fuel poverty, whilst also cutting greenhouse gas emission and cutting current dependence on imported energy.

“Secondly, a GIQE programme could also help tackle the housing crisis by financing the construction of new affordable housing that’s highly energy efficient and built predominantly on brownfield sites.

“Thirdly, GIQE could help finance improved regional public transport networks to help revitalise local and regional economies. That’s more and better buses, trains and coaches, helping people to get around their communities and stay connected . . .

“It’s time that both the Government and the Opposition, rather than continuing to hand money over to the banks as they have done since the financial crisis, will seriously consider this plan to build a resilient economy, protect our shared environment and create thousands of new well paid jobs.”