Author’s note: No, I have not been in a cave for the past two weeks. The impacts of unconventional gas on energy markets will be measured in months and years, not in days and weeks. There is essentially nothing that current unconventional gas production can do to moderate crisis-driven escalation of oil prices and oil-linked LNG prices in the next few weeks.
In Part I and Part II of this series, the impacts of unconventional gas discoveries in the U.S., Australia, Canada and elsewhere were explored. Gas-to-gas competition was seen as a powerful force for price moderation.
U.S. shale gas discoveries and production from coal bed methane (CBM) have already provided great benefits for energy consumers in the Atlantic Basin. Gas-to-gas competition – shale v. LNG – has led to interesting market outcomes and investments. …
Continue ReadingEditor Note: This paper was prepared for the “Reconciliation in the Climate Change Debate” workshop held by the Institute for the Protection and Security of the Citizen, European Commission in Lisbon, Portugal (January 26—28, 2011).
I am an “outsider” to the field of climatology in two respects: by professional training I am an economist, and as regards my research I am in dispute with proponents of some elements of what is commonly called the “consensus” scientific position.1
With regards to my economics background, I note that economists routinely undertake scientific research on matters of acute political controversy, yet the field remains generally congenial and productive; whereas the policy controversies connected to climate research have resulted in seriously disrupted and damaged collegiality in climatology. Why the difference between the two fields? I suggest attention be paid to two reasons: the habit on the part of climate and meteorological societies to issue “expert statements” on behalf of members, and the role of the IPCC.…
Continue ReadingA California superior court recently issued a tentative decision against the California Air Resources Board (CARB) for failing to comply with environmental law pursuant to the implementation of AB 32, California’s global warming law.
The tentative decision directs CARB to rewrite its documentation pursuant to the California Environmental Quality Act (CEQA), and to cease implementation of the AB 32 Scoping Plan until the violation is corrected. The decision is based on violations of process, not the scientific or economic substance of either the CEQA documentation or the scoping plan as critics of climate alarmism would have liked.
Reactions to the tentative finding have ranged from “no big deal” to “hallelujah.” But it is a big deal; CARB’s implementation of AB 32 hangs in the balance, at least for the time being.…
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