Best Way To Get Wealthy
Tons of metamorphic rock, which is what it takes to mint a gallon of oil or a ton of coal. Instead, they represent a benign marriage of chlorophyll molecules with the sun's own rays falling silently on our farmers' fields. That marriage produces carbohydrates, which can be refined by companies now being founded by software millionaires and farmer-owned cooperatives alike.
Here's the tricky part of the green transportation equation. You see, it's one thing to wax eloquent about how cool the Tesla Roadster is going to be, but it' s another thing for investors to actually make money from publicly traded stocks in the green transportation sector.
Financial planning can create opportunities to put university resources to work in numerous ways that can have emission reduction benefits. Because the allocation of budgets generally reflects priorities, financial plans can link operating and construction costs, consider life-cycle costs, and link budgets across departments. Each of these measures can help to create incentives for energy conservation and give priority to energy-related projects in a range of departments.
In a city populated with poor and rich people, should judgments of urban health be based on a fictitious average person Or should they follow the standards of John Rawls in requiring that a fair society focus on raising the well-being of the worst off 27 If the second approach is chosen, then expensive self-protection strategies have little impact because they do nothing to improve the lot of those at the bottom of the income distribution.
Last summer Jeffrey Immelt, chief executive of General Electric, came up with an idea quite revolutionary for an American business executive. Saying he wanted to change the way GE does business, Immelt introduced what he called eco-imagination, an initiative focused on clean energy, which would make GE the first green conglomerate in the United States. GE executives would henceforth be judged by their efforts to save the planet as well as their zeal to make money for shareholders. Every GE business unit will be required to cut its emissions of carbon dioxide (CO2), the main greenhouse gas that causes global warming.
The Sydney group preferred good to win but they defined 'good' as the opposite of 'the acquisitive society, where it's really big to make money.exploit your fellow man'. They would like to see television show the better side of people, helping each other. The Bathurst group also preferred it when good prevails, because 'it makes you feel better'. Overall, they worried that so many TV programmes are directed towards crime and violence, and thought that it is young people (in their 30s and younger) who want it. They believed these young people may thus become desensitised to violence. One woman, picking up this theme, described her grandchildren who come from a country property and 'only want guns' because their parents shoot kangaroos.
Companies can actually make money by reducing their output, creating carbon credits and selling them. The carbon market ensures that carbon dioxide levels are being reduced. It just doesn't worry about where or by whom. Beyond do-gooding, businesses can make money in carbon trading. Goldman Sachs, a U.S. investment bank, owns shares in the Chicago Climate Exchange and the European Climate Exchange. (We talk more about how banks are getting involved in fighting climate change and profiting, in the process in the section Support from the Professional Service Sector, later in this chapter.)
First, the basics the most fundamental reason for investing is to make more money than you get from your day job. But let me start by warning you that buying an oil stock or two will not necessarily make you any richer instantly, nor make up for your gushing energy bills. As you probably know already, investing is much like other forms of gambling, the only difference being that you are more in control. Because of that delicate ability to control, you can structure the gamble to suit your specific needs and concerns, and make it appropriate to your level of income. I will skip traditional investing, which includes putting your retirement money away and other similar types of savings. That's not my concern here. I'm just going to deal with secondary investments, or what others call discretionary investments, where you simply want to make money as an add-on to what you already have. Like any venture, this type of investing As I have said before, the only sure thing is that investing in...
Corporate and societal performance need not be separated. Whereas companies previously sought to first make money through their business operations and then give back to society through philanthropy, now these two agendas could be merged. What had been a virtual firewall separating business from philanthropy was now transforming into a host of new and creative approaches to combining the two through corporate partnerships with nongovernmental organizations, strategic philanthropy, and other forms of social innovation.11
Before we discuss how to make money by investing in biogas, we should quickly address the argument that using landfill gas for energy cannot be considered green for two reasons. First, it is suggested that if an energy source emits dioxin (LFG combustion can produce small quantities of dioxins), it's not really green. While we agree with this statement, it could be equally argued that it's still better than coal, and therefore should not be disregarded when discussing alternative forms of power generation.
One way to harness the balancing abilities of the market for preventing global warming is a scheme called cap and trade. A regulatory agency allocates permits for emission of climate forcing agents such as CO2, with the total number of permits they issue totaling some lower overall rate of emission than BAU (climate geek speak for business-as-usual). If a company or a country is able to cut its emissions to even lower than its allocation, it has the right to sell its permit to another company or country. The price of the permits is set by supply and demand, same as any other commodity. Presumably the industry for which it is most expensive to reduce emissions would be willing to pay the most for the emission permits. It will induce other industries to reduce their emissions because they can make money doing it, selling their permits to the highest bidder.
Protecting the environment had become an expanding public-policy sector, and some even referred to the emergence of a pollution industrial complex that was trying to make money out of the cleaning up (Gellen 1970). By the time the United Nations held its Conference on the Human Environment in Stockholm in the summer of 1972, environmental protection was firmly placed on the international political agenda (McCormick 1991).
Management Systems Principles And Guidelines Item in the list of tools for project managers and participants
The program organizations need internal meeting structures, pre-established agendas for meetings, checklists for decision points and checklists for the preparation of decision material and guidelines for managers on how to prioritize in different situations, for instance between speed and attention to detail, and between energy transformation and financial goals. Such guidelines need to be based on the overall values that guide the change process, which can be determined during the strategy development phase, described above.
A millionaire could afford to purchase ten times as much of the same goods as a person who makes 100,000 a year. Yet consumer purchase data do not suggest that richer people simply scale up the quantity of their consumption. Instead, richer people purchase more quality. In some cases, this quality upgrading will have little environmental impact. For example, there are few environmental benefits offered by a richer person choosing to buy steak rather than eating at McDonald's. But in other cases richer households choose higher-quality products that intentionally or unintentionally have environmental benefits.
Furthermore, regardless of the quadrupling of oil prices over the past six years, the rate of rise of oil consumption globally is accelerating, with increases over the past several years averaging about 1.7 million barrels per day each year. Only about 11 percent of this increase is occurring in the United States.17 Most of it by far is occurring in China, India, eastern Europe, and Latin America. Everywhere the pattern previously seen is repeating Once people become wealthy enough to buy a car, they do so. Auto sales in China doubled between 2001 and 2003, and have doubled again since. They are going to keep doubling.18 In the United States today eight hundred out of every thousand people own cars. In China the number right now is only eight cars per thousand.19 There are a lot more cars coming.
While the modeling strategy described above makes sense for forecasting the distribution of average losses associated with climate conditions before the start of the season, for financial planning it might be of greater interest to know the maximum possible loss. In this case, the normal distribution is replaced by an extreme value distribution for the logarithm of losses. For example, the family of generalized Pareto distributions describes the behavior of individual extreme events. Consider observations from a collection of random variables in which only those observations that exceed a fixed value are kept. As the magnitude of this value increases, the GPD family represents the limiting behavior of each new collection of random variables. This property makes the family of GPDs a good choice for modeling extreme events involving large insured losses. The choice of threshold, above which we treat the values as extreme, is a compromise between retaining enough observations to properly...
Small-scale farmers in the North are also experiencing hardships that could be eased by more robust supply management and price support mechanisms. From the 1930s through most of the 20th century, U.S agricultural policies included measures that required agribusinesses to pay farmers a minimum price for their major commodities. However, over the last two decades there has been a dramatic shift toward a reliance on the free market ideology that U.S. farmers would become rich through increased exports.
In the past, oil companies have tried to maintain a low profile, as much as immensely profitable companies serving the public can hope to. They've tried to burnish their image, some more than others, with support of public radio and television, image advertising, and such, but mostly they've gone about the business of making money in the United States and Europe and buying access in oil-producing countries.
Because a top-down, all-powerful media theory (such as Gerbner's) might suggest that the saturation 'bombarding' of the public with 'big event' crimes (like the Port Arthur and Dunblane massacres, or the Atlanta Olympics bombing) would make the televiewing public even more convinced about a 'mean world', we asked people their responses to these televisual events. The Sydney group men felt that the main effect of the Port Arthur massacre was to increase the prime minister's popularity at the cost of the public as he peddled a rhetoric of 'gun reform', whereas guns in general are the result of the 'armament kings' making money. This led on to a discussion of imperialist countries using guns to control Africa, Europe and so on. 'Multinational capital is at the back of it', controlling for example development in Peru orAustralia, generating terrorism and so on. As regards the safety of public spaces, they argued for a routine return to 'more cops back on the beat', rather than any 'panic'...
Short run, since such decisions will affect the long-term competitiveness of companies. At least managers will need reliable forecasts of future energy prices, and forecasts of the energy supply, but in many cases this will not be sufficient to make major investment decisions. This means that no CEO in his right mind could make a decision to move production to a more expensive country or change suppliers in a similar way, simply because of environmental consciousness. He will need a long-term business case in order to do this. This is not because managers are not aware of the perils of decreasing oil supply or climate change. Managers are simply appointed by the board with the remit to make a profit. This means that companies will focus on financially justifiable investments. Companies and their managers could spend small sums on charity, but they could not, within the existing system, make large investments based on other goals than making money. A long-term business case could be...
With few exceptions so far, electric utilities only pay lip service to demand response. That is, they will talk about it, participate in pilot programs, or step into it weakly if it becomes a requirement for them to pursue their traditional avenues of making money. In the early to mid-1990s, California and several states in the Northeast pushed demand response pretty hard and even figured out how to reward utilities for the investment.
The Federal Reserve has a long tradition of using tight monetary policy to discipline labor when wages begin to rise. Similarly, when labor is relatively weak, the Fed is more willing to stimulate the economy by making money more available. For example, Alan Greenspan told the Senate Budget Committee on January 21, 1997
The successes which Eostre has achieved in the previous four categories add up to more than the sum of their parts together they comprise the seeds of a new system of food provision, based upon cooperative and sustainability values (such as fair trade), and bypassing supermarkets in order to create new infrastructures of provision through direct marketing. Furthermore, their consumers actively support this activity, and many commented on how they enjoyed the opportunity to avoid supermarket systems of provision, for example 'I think that supermarkets are distancing people from the origins of food and harming local economies I try to use supermarkets as little as possible', ' Eostre is an alternative to a system which rips off producers, the planet etc', 'I believe in a local food economy' and 'I don't want supermarket world domination, extra food miles, packaging, and middle people making money '.
With increasing allocation of native forests to conservation objectives, there remained a need to expand plantations in Australia, and yet governments were less able or willing (with some exceptions) to make those investments. At the same time, in the mid- to late 1990s came the rise of the Managed Investment Scheme (MIS) industry, based on the peculiarities of Australian tax law allowing wealthy individuals in high margin tax brackets to deduct the cost of forestry investments off current income. Recently, there has been a convergence of improved investment models for tax-effective primary investments such as forestry, as well as a need for more plantation forestry for both pulpwood and sawlogs. The result was a substantial expansion of plantation forestry from 1995 to 2000, culminating with almost 140,000 hectares being planted in one year in 2000. This rapid expansion of retail or MIS investment has now led to over half of Australia's plantation estate being privately owned.
A challenge for the future is to develop a much better understanding than we now have of what makes a job interesting and intrinsically rewarding independently of its money-making potential, which is not to deny the importance of the latter. We must recognize that work can meet human needs other than strictly economic ones, and we must learn to design jobs that improve the quality of workers' lives not only indirectly by giving them purchasing power, but directly by making their working hours more interesting and gratifying.
These two scenarios - each involving complex networks and special advanced technologies - are currently on a collision course. We have seen that the current form of global capitalism is ecologically and socially unsustainable. The so-called 'global market' is really a network of machines programmed according to the fundamental principle that money-making should take precedence over human rights, democracy, environmental protection or any other value.
Additionally, it is important to note that these two potential sources of demand will likely have two very different approaches towards buying carbon. Large buyers will want to minimize transaction costs and ensure adequate levels of risk management. For this reason they are likely to push for standardization and a further commoditization of voluntary carbon. This could lead to rapid growth (in terms of volume) of the voluntary markets, but it could, at the same time, mean more money being spent on certification and verification, and less money making it down to the original supplier of the emissions reduction credit. This is a trend we have seen with many other commodities from coffee and sugar to corn and pork bellies.
Although subsidies do enable utilities to keep their tariffs down, they do not encourage long-term investment in the water sector. A fact that cannot be disputed is that full-cost recovery tariffs are the best guarantee of a utility's financial independence and ability to invest in future needs. Subsidy encourages corruption and the problem is compounded where water is scarce and needs to be rationed. If a utility loses money on every cubic metre of water it sells over the counter, its management will quickly find a way to make a profit by selling under the counter, according to Global Water Market 2008.
Basic Conditions And Current Thinking Associated With Reconstituting Inoc And Reorganizing The Ministry Of
Production activity.139 Apparently, several members of the Council of Ministers have insisted upon such a distinction in the allocation of authority.140 Additionally, from an earlier public presentation made by the Prime Minister's chief theoretician on oil and gas matters, Thamir al-Ghadban, it is suspected that it had been favored to reconfigure INOC in a way that would embody several key features first, it would be a holding company of the federal government second, it would have administrative and financial independence from other state entities third, it would have the power to manage present fields through the use of subsidiaries and fourth, its board of directors would be made up of appropriate federal and provincial representatives. As originally set out, the reconfiguration envisioned SOMO (State Oil Marketing Organization) as remaining, at least for a period of time, under the oversight of the Oil Ministry, rather than INOC. And, contrary to the more recent suggestions just...
Corporations are increasingly finding it necessary to consider climate change issues in their strategic planning and risk management. More and more, institutional investors also realize the importance of considering the financial implications of climate change in their investment analysis and decision making. As a result, climate change is now showing up in various components of financial reporting. For example, information on climate change will increasingly be found in financial statements and, in North America, management's discussion and analysis reports. In the United States these reports are incorporated into 10K filings. In Canada information about climate change matters may also be found in a third filing, the Annual Information Form. Climate change issues will impact financial statements in a variety of areas, including strategic capital investments and compliance and risk management costs. For example, in jurisdictions where there are GHG emissions trading programs and where...
The million-dollar question as of now is whether CSR has been or should be mandated or not. As of now, there is no law that recognizes or enforces the concept of CSR, but still companies do comply with their responsibilities, which may be for their personal gains to their reputation, name or even profits. The debate as to whether there should be a law to enforce the concept of CSR has recently arisen and with the passing of various judgements by various courts in India, including the Supreme Court of India, precedents have been set which go in favour of CSR acquiring the statutory backing and are in specific reference to the environment. Following cases deserve a mention
On February 14, 2002, President Bush announced his long awaited strategy to address climate change. His target is to cut the rate of annual domestic carbon emissions through voluntary corporate action from 183 metric tons per million dollars of GDP to 151 metric tones by 2012.47 His aim is to slow the growth of emissions rather than reducing them thereby avoiding harm to the U.S. economy. He talked of cutting greenhouse gas intensity by 18 percent over the next
California deserves much credit for the advancement of hydrogen and fuel cell vehicle technology. The ZEV program clearly was an important indirect influence, but there was much more. As early as 1993, when fuel cells were barely acknowledged as a possible vehicle technology, LA's financially well-endowed air quality district acted as a venture capitalist, pumping a million dollars into the Ballard fuel cell start-up company. That early investment helped the company develop a prototype fuel cell bus and gave it credibility as it prepared to go public with an initial stock offering.
On their financial savings over time. However, after four years passed and the savings were not seen by the finance department, the energy manager was called to task. With the help of an undergraduate engineering student who combed through department purchasing records, we were able to show that the lighting retrofits had in fact created huge savings. The problem was that these savings had been more than offset by the purchase of over one million dollars worth of electricity-using equipment including substantial numbers of computers, lab equipment, and even a large electric oven for fabricating computer chips.
The announcement of the complete sequencing of the human genome by Craig Venter, president of Celera Genomics, provoked surprise and consternation. How could a private company like Celera compete with a public international consortium like HGP, which had been in operation for a decade and was financed with billions of dollars by some of the richest industrialized countries And how could it be possible for information on our genes to be in the hands of a private organization In 1980, a sensation was caused when a Californian biotechnology company, founded only four years previously by a university professor of genetics, Herbert Boyer, launched a public share offer. In the following year, MIT received a donation of 125 million dollars from a businessman to host the Whitehead Institute for research in molecular biology. Fully 25 per cent of the patents granted to American universities between 1969 and 1991 were awarded in 1990 and 1991, while the period 1987-1991 saw a 100 per cent...
Borne diseases (e.g. malaria) and heat related cardiovascular and respiratory diseases (note, there will also be some benefits in places where increased temperatures reduce such impacts). There are also impacts on agriculture, forestry, water use, energy consumption etc., some of which will be positive. The scale of these damages is very difficult to estimate the underlying physical models are still quite primitive and there is great uncertainty about future land use and population distribution, which will have significant effects on the damages caused by climate change. The other factor on which monetary estimates of the damages depend greatly is the discount rate (see Chapter 5). Typically, the models look far into the future and impacts start to get serious around 2030. After that they will continue to be relevant for one hundred years or more. At a high discount rate these damages become insignificant, as can be seen in Table 11.2. If we go from a 0 per cent discount rate to a...
Driven by its mission to build models for affordable housing and the construction industry, homeWORD asks its staff to seek additional funding and find new sources of support from both private and community foundations. One unique aspect of the project is that an anonymous donor found its own goals and values closely matched those of the project and therefore contributed over half a million dollars to support the green features of Orchards Gardens.
In the end, after tens of millions of dollars were spent on legal and experts' fees and the issue had been dragged through the courts for more than a dozen years, the bottom line looked like this While Johns-Manville paid its debts to commercial creditors on a dollar-for-dollar basis and was allowed to do business as usual, future asbestos claimants were paid ten cents for every dollar they had won from the company through the legal system. That lasted until July 2001, when the amount dropped to five cents on the dollar. As a result, most mesothelioma victims, who often face up to a half million dollars in health care costs to help them battle the enormous discomfort of the incurable disease, were regularly paid less than 20,000 by the J-M Trust. Bowker 2003 262
Cost-benefit supporters ask Shouldn't nations be devoting their resources to serious health problems rather than trivial ones If a nation can spend ten million dollars to save one thousand lives, shouldn't it do that, rather than wasting the money on a similarly priced program that saves only one or two people We have seen that human beings make many errors in assessing risks, using rules of thumb and demonstrating biases that make them exaggerate some dangers and underestimate others. These errors seem to be replicated in existing policies CBA might be defended as a promising corrective to blunders in citizens' perceptions of risk. In these ways, interest in CBA has been fueled less by contentious claims of value than by the pragmatic suggestion that it can assist in more intelligent priority-setting, not least in dealing with low-probability, high-impact events.13
Investigation reports over 600 incidents of domestic eco-terror in the six-year period from 1996 to 2002, with damages exceeding 60 million dollars 7 ,* while other estimates suggest well over 500 incidents of illegal animal rights actions alone worldwide, with attacks occurring in 17 different countries between 1981 and 2004 8 . According to the Animal Liberation Front (ALF), more than 137 illegal actions occurred in North America in 2001 alone, resulting in 17.3 million in damages 9 .
In total, GE started with an investment of 700 million dollars in Ecomagination in 2004, and the annual investments will be increased to 1.5 billion dollars by 2010. The products that have been developed in the project have, so far, met with a much higher demand than was originally expected, and the market demand is expected to increase even more in the future.
Before coming to the White House in 2001, Cooney was a lobbyist at the American Petroleum Institute. Just two days after that article was published, Cooney resigned from the White House Council and joined Exxon Mobil. Exxon Mobil defended its hiring of Cooney by stating that they hire from both sides of the aisle. Meanwhile, an investigation by Mother Jones magazine found that Exxon Mobil spent at least eight million dollars funding a network of groups to challenge the existence of global warming.
Communications Satellite Corporation's initial capitalization of 200 million dollars was considered sufficient to build a system of dozens of satellites, as offered by a joint AT&T Radio Corporation of America proposal. However, NASA recognized that the geosynchronous orbit, which was higher and would soon be attained by launch rockets, would require fewer satellites, as Clarke had forecast. Hence, it looked with favor at a more advanced satellite, the geosynchronous satellite proposed by Hughes, for the initial system. A policy difference lay with the fact that AT&T RCA were willing to put more of their own money into their system in order to get positioned literally, in the lead of a new industry. To go to geosynchronous orbit meant more time and money had to be spent by the
In 2007 damages from severe flooding alone in Northern Fiji cost FJ 10m ( 7.1m).4 In Tuvalu king tides destroyed many homes and contaminated food supplies.5 In the 2004-05 cyclone season the Cook Islands incurred millions of dollars of damage from five cyclones in one single month, heavily affecting its economy and infrastructure.6
Following a heavy blizzard, the cleanup task begins. Mailboxes and fire hydrants are dug out first, and then the snow plows get busy. Before the proliferation of motor vehicles in civilized countries, our modern, frenzied snow-removal programs would have been considered ridiculous. Decades ago, sled-type runners replaced wheels on vehicles until the snow melted in the spring, but today, millions of dollars are spent every year to clear snow off of streets and highways. An incredible variety of plows, blowers, and shoveling devices keeps our modern transportation system moving.
Institutions such as a university or government intend to use buildings for 40 or 60 or 80 years to a century or more. Financial instruments do not even measure out to 80 years because it is so far in the future that discount rates essentially become meaningless across generations. But for a place like Tufts that has been here for 150 years and will quite likely be here for at least another 150 years, there is a significant risk in not anticipating future uses, future costs, and future users. This goes well beyond the cost of replacing poorly operating HVAC equipment or paying extra millions of dollars in utility costs (which should be reason enough to build nothing but the greenest building possible, every time). This idea of risk should also be incorporated in future building contracts as well. Any plan or bidder should have to show the risks of building the lowest (up-front) cost building and compare this to the best-case scenario.
By the early 1950s, private consulting firms were offering to produce rain for farmers and hydroelectric (hye-droh-ih-LEK-trik) companies for a fee. The federal government, concerned about unregulated rainmaking, formed an advisory committee to investigate whether these techniques really produced weather on demand. As a result of the committee's recommendations, the National Science Foundation (NSF) funded a five-year, 5 million research project on weather control starting in the late 1950s. By the 1960s, there were many more private weather control firms, and the government was spending millions of dollars every year on additional research. The military tried to use weather as a weapon in the Vietnam War (1964-1975) by producing rain over trails used by the North Vietnamese, despite protests from meteorologists and other scientists.
A well-functioning judicial system signals polluters that they will be held accountable for damage caused to the urban environment. In the United States, the torts system has made many polluters pay millions of dollars for past environmental damage, which makes potential polluters think twice before committing the same offense. If a firm or other entity anticipates a large fine for polluting, then it is more likely to take precautions to minimize the likelihood of a costly event, such as the Exxon-Valdez oil spill. But in countries where courts are known to be corrupt, firms have little incentive to green their production. They can simply conduct business as usual and pay off a judge if they get caught.
The components of a small-scale power plant using an improved breeder reactor were assembled in Idaho in 1995 the purpose was to demonstrate the capability of a complete system. This small-scale demonstration had cost many tens of millions of dollars and required many year's of effort to assemble. However, Congress, at the urging of the Clinton administration, chose to terminate the program for budgetary and other reasons. This action was taken even though Japanese and private industry contributions would have reduced the remaining demonstration cost to a very minor amount. I believe this action was misguided and unfortunate.
In December 2004, one of the world's largest banks - HSBC - surprised many observers by announcing it had decided to make its operations 'carbon neutral'. What surprised people wasn't so much that the bank had agreed to take the issue of climate change seriously, but that it had voluntarily agreed to spend millions of dollars over the next ten years to minimize its contribution to the problem. As a dry run, HSBC put out a tender for projects that would offset 170,000tc02e emitted by the bank during the last quarter of 2005. More than 100 emission reductions projects responded to HSBC's request, and the company was able to shortlist 17 based on criteria related to project volume, technology employed, country and vintage. When all was said and done, the company spent some US 750,000 buying offsets from a handful of projects in Germany, India, Australia and New Zealand (HSBC, 2005). But the process was a steep learning curve for the bank, which led environment adviser, Francis Sullivan...
The changes described in this chapter, in any one company of some size, represent investments of tens or hundreds of millions of dollars in change management efforts over decades. The transformation has dramatically reduced the availability of local and regional alternative suppliers to the ones that are used today by producers of consumer products, or by their first-tier suppliers. It is, therefore, not so easy, or inexpensive, to change back to previous supply chain structures and to old ways of doing business. The process of change, which has taken decades, may take the same time to reverse, and the financial benefits of reversing the process may not be as obvious as the financial benefits were of running the process in the first place. Therefore, it may be difficult for many companies to financially justify the investments that would be necessary, if we were to recreate local or regional supply chains once more.
Water meters must be properly sized in accordance with the actual customer consumption patterns in order to accurately register the flows at all levels of consumption. Historically, water utilities sized customer service connections and meters based upon the peak flow rates that the meter was expected to encounter. Since peak flows occur only on rare occasions, most of the time meters sized in this manner registered flows in the low end of their design range. Many meter types are less accurate in the low end of their flow range with very low flows not captured at all. Current wisdom focuses on sizing the meter to accurately capture the flow range most usually encountered, not seldom-occurring peak flows. Many water utilities have recovered considerable water and revenue by right-sizing oversized customer meters. Between 1990 and 1992, for example, the Boston Water and Sewer Commission's meter downsizing program recovered over 100,000 cubic feet of additional water per day in apparent...
Then, when in the mid-1990s the discussions about the Kyoto Protocol began, Enron, along with other members in the so-called 'Clean Power Group' including El Paso, NiSource, Trigen Energy, and Calpine, became great supporters of a CO2 emissions trading scheme and paid millions of dollars in campaign contributions to the Clinton Administration and the US Senate to support the Kyoto treaty. The Clean Power Group members hoped to cash in by masterminding a worldwide trading network in which major industries could buy and sell credits to emit CO2. Enron appeared to be on the verge of success when then vice-president Al Gore signed the Kyoto Protocol in November 1997. Meanwhile, Enron and other companies including El Paso, the company with which Enron held joint ventures in Latin America had begun to explore opportunities for investing in CDM projects under the US Initiative on Joint Implementation.
Programs in pollution prevention and product stewardship are well institutionalized within most MNCs today and have saved hundreds of millions of dollars over the past decade. U.S.-based companies have been especially focused on the efficiency gains and cost savings associated with pollution prevention. Highly publicized crises at companies such as Monsanto and Nike that failed to successfully engage the views of stakeholders have also caused growing numbers of firms to explore strategies for product stewardship. European companies have been particularly active in engaging in more stakeholder dialogue, extending producer responsibility for products, and adopting more inclusive forms of corporate governance. Research and consulting experience, however, suggest that few firms seem to recognize, let alone exploit, the full range of sustainable business opportunities available.22 Most focus their time and attention primarily on the bottom half of the matrix short-term solutions tied to...
I always wonder why large office buildings in cities have so many floors lit up during the night when no one is working. Some simple engineering, providing multiple lighting zones for each floor, would allow the janitors and other nighttime workers to have light for their work without wasting so much energy. Even corporations who pay millions of dollars to put their names on the top of all buildings may not realize how much adverse public relations they are creating by keeping the lights on at night.
Some time ago, alarmists in the news media reported that any freshman college student could design and build a nuclear bomb. These stories are difficult to reconcile with the fact that countries who actually have built and tested a nuclear weapon (USA, Russia, Great Brittain, France, China, India, Pakistan, Israel, South-Africa) spent three or more years and billions of dollars to get to that point. Sketching out a principle or a design on a piece of paper is not quite the same as building, procuring, and constructing equipment necessary for testing or use of a nuclear weapon. The same can be said about building a rocket to fly to the moon, which any college student can outline but not finance. It is fortunate that building nuclear weapons is enormously expensive and difficult to carry out for a small group of terrorists. Even if they stole weapons-grade Uranium-235 or plutonium from an enrichment or reprocessing plant (Subchapter 5.2), it would cost a terrorist gang hundreds of...
The TRI also provided, for the first time, a metric for corporate and facility managers to track their own firms' performance and benchmark it against competitors. What gets measured gets done. Ten years later, toxic emissions in the United States had been reduced by more than 60 percent, even though the U.S. economy boomed during the 1990s. Indeed, many companies actually saved tens of millions of dollars in the process of reducing or eliminating their toxic emissions.15 We could argue that the TRI was one of the most important and effective pieces of social legislation ever passed. And it required nary a lawsuit, court battle, or inspector to make it happen. Since then, many developing countries have adopted a similar philosophy of transparency and information disclosure as the basis for their environmental policies, since these can be implemented at a fraction of the cost of command-and-control regulations.
But what if the stakes were reversed What if we should have to make enormous sacrifices to protect an environmentally insignificant landscape (The example of the 1002 area of the Arctic National Wildlife Refuge comes to mind). Suppose industry would have to pay hundreds of millions of dollars to reduce air pollution by a small, perhaps an insignificant, amount The students in my class answered these questions the way they answered questions about Mineral King. Just
Capturing the Complexities of Territorial Control Making and Marking Space with the Los Angeles Police Department Steve
Like all fieldworkers in the human sciences, I chose to enter the field because I possessed a strong curiosity about the people I wished to understand. When I was in graduate school in Los Angeles in the early 1990s, there were few social institutions attracting more attention than the Los Angeles Police Department. For years, the LAPD had been accused of being overly aggressive and racially biased. As a consequence, when the brutal beating its officers administered to an African-American citizen named Rodney King was videotaped and shown on television in 1991, the Department became the focus of intense public debate. A year later, the officers involved in the beating were acquitted of all charges in the case, and the city erupted in civil unrest that caused millions of dollars of damage and left more than 50 people dead. I watched the
In August 2006 the US Ninth Circuit Court, in response to a lawsuit brought by Mexican business groups and environmental groups from both countries, issued a temporary injunction halting the lining of the All-American Canal (Dibble 2006a). At the time of writing the case was scheduled to be heard by a three-judge panel of the Ninth Circuit in December 2006. The injunction illustrates how third parties can increase the negotiating parties' transaction costs if mitigation is not undertaken. According to the San Diego County Water Authority, litigation has delayed the project at least a year and raised costs by tens of millions of dollars (Dibble 2006b). One of the last acts of the 109th Congress was to pass legislation ordering the US secretary of the interior to begin canal lining without delay (Dibble 2006b). The secretary's ability to do this will depend on the Ninth Circuit's ruling. Given that the United States and Mexico share 17 groundwater basins (Hall 2004), this could also...
Large-scale technology projects for power generation systems, and fuels and engines, would solve emission problems for a large number of consumers or companies in one go, on a large scale. We may also think of large projects, involving the construction of a number of power plants, using sustainable technology, which would be built in a number of urban areas at the same time. Each project may involve investments of hundreds of millions of dollars, and this would reduce emissions for the power and heat generation for a large number of households at the same time. We could also think of a project involving the implementation of a new public transportation system, which could be implemented in several regions at a time and solve the transportation needs of a large number of people.
In many countries fossil fuel subsidies amount to tens or more millions of dollars. Global annual energy subsidies are estimated at about 250-300 billion in the mid-1990s, and that does not count the huge U.S. subsidies required to secure the supply of oil imports that has been estimated to produce a true oil cost of over
HGP, an international programme costing billions of dollars, has been likened to the biological science's equivalent of landing on the moon (see, for example, Cook-Degan 1994). It is an attempt to map and sequence all 3,000 million base pairs which constitute the human genome. It aims, in its metaphorical search for the 'holy grail', to write the 'book of life'. In 1988, an organisation called HUGO the Human Genome Organisation, described as a United Nations for the Human Genome was established inter alia to encourage public debate on the ethical, social, legal and commercial implications of the project (Bishop and Waldholz 1990). These include fairness in the use of genetic information in, for example, employment the impact of knowledge on the individual through stigmatisation and labelling issues of privacy and confidentiality impact on genetic counselling and reproductive decisions issues of education, standards and quality in medical practice the past uses and misuses of genetics...
The invention and successful demonstration of alcohol flex-fuel vehicles has placed in our hands the necessary tool to switch the world off petroleum. Such a change would save Americans hundreds of billions of dollars per year, and humanity at large trillions per year. It would also provide the basis for a cleaner environment and open-ended, sustainable global economic growth that could lift billions of people out of poverty. Finally, it would destroy the financial power that is supporting the global spread of Islamofascism. These are tremendous benefits. But where there are winners, there are losers, and in this case, those who stand to lose have many billions of dollars available to use in defense of their current privilege to loot the world. Thus it is hardly surprising to find various absurdities being vocally promoted in influential quarters for the purpose of deterring the adoption of an OPEC-smashing energy policy. The two most important of these are the hydrogen and Pimentel...
Collectively, the EU and the US have spent billions of dollars to be able to construct the inefficient behemoth factories, which in the distant future might ingest megatonnes or gigatonnes of apparently free biomass trash and spit out priceless liquid transportation fuels. It is therefore prudent to ask the following question Call out using the new paragraph and gray background.
Assuming that some of the above works and there's plenty of cheap hydrogen a decade hence, the question becomes how to make it available. Here again, there is disagreement on how much this will cost. The Cato Institute and others say hundreds of billions of dollars, while a study by energy consultant e4tech and London 's Imperial College concluded that hydrogen could be added to 2,800 filling stations across the European continent for 3.5 billion over 15 years. Studies by GM and Shell put the cost of covering the most densely populated parts of the United States at 12 billion to 19 billion over 10 years. The general plan would be for municipalities and companies that operate centrally fueled fleets to go first, switching over to fuel cell buses and delivery trucks and building the requisite fueling stations. From there, through a combination of government programs and private-sector capital spending, pumps would be sited as needed. Spread these optimistic cost projections among energy...
The good news about gasoline and diesel cleanup is offset by a troubling new phenomenon. As supplies of conventional oil diminish, oil is increasingly extracted from unconventional sources such as tar sands, very heavy oil, coal, and oil shale. These unconventional fuel sources will greatly increase carbon dioxide emissions because they contain more carbon per unit of energy and require far more energy to excavate and refine than conventional oil. As described in the next chapter, oil companies are already investing tens of billions of dollars in unconventional oil production. The oil industry bias that leads it to invest in high-carbon unconventional oil makes the call for low-carbon alternative fuels ever more urgent.
Important economic and jobs benefits could result from a concerted U.S. effort to develop substitute fuels plants based on U.S. coal and shale resources and scale up of EOR. The impacts might include hundreds of billions of dollars of investment, hundreds of thousands of jobs, a rejuvenation of various domestic industries, and increased tax revenues for the Federal, state, and local governments. The identification and analysis of such benefits require analysis.
First is the need for a consistent set of internationally accepted standards determining which projects create reductions that are truly 'real, quantifiable and permanent', and the procedures by which these reductions are calculated, monitored and verified. Recent and persistent critical press coverage of the voluntary markets only highlights the urgency for agreement on best-practice quality standards for the markets. A number of initiatives have arisen in the last two years, most notably the VCS, which was launched for active trading in 2006 and has subsequently undergone numerous stakeholder-driven revisions. Much of the strength of the VCS lies in its adoption of the experience and intelligence built up over several years in the international project markets - namely, a large set of project-specific methodologies that have been road tested with billions of dollars of capital across hundreds of projects, and a group of experienced verifiers. It remains to be seen, however, whether...
Abstract Ethanol, or ethyl alcohol used for motor fuel, has long been used as a transport fuel. In recent years, however, it has been promoted as a means to pursue a multitude of public policy goals reduce petroleum imports improve vehicle emissions and reduce emissions of greenhouse gases and stimulate rural development. Annual production of ethanol for fuel in the United States has trebled since 1999 and is expected to reach almost 7 billion gallons in 2007. This growth in production has been accompanied by billions of dollars of investment in transport and distribution infrastructure. Market factors, such as rising prices for petroleum products and state bans on methyl tertiary butyl ether (MTBE), a blending agent for which ethanol is one of the few readily available substitutes, drove some of this increase. But the main driving factor has been government support, provided at every point in the supply chain and from the federal to the local level. This chapter reviews the major...
Coastal regions, particularly some low-lying river deltas, have very high population densities. It is estimated that in excess of 150 million people live within 1 metre of high tide level, and 250 million within 5 metres of high tide1,2. Also, there are billions of dollars invested in coastal infrastructure immediately adjacent to the coast (Figure 6C.1). Sea-level rise
Table 9.1 lists comparative costs for two representative European barriers plus a hypothetical East River tidal gate designed for water pollution control. Given that water damage resulting from a major hurricane event colliding with New York City has been estimated in the many hundreds of billions of dollars, it is obvious from the table that barriers would be very cost effective, even for one major storm event alone.1
From an engine standpoint, the path from here to hydrogen nirvana looks fairly clear Start burning it in internal combustion engines now, and bring fuel cells online sometime in the coming decade. But the engine is just half the puzzle. The other half involves figuring out how to make enough cheap hydrogen and build a network of fueling stations. And not everyone is convinced that this is either possible or desirable. The Cato Institute, a highly respected libertarian think tank, dismisses the idea of a hydrogen economy as a fantasy, while others call it a smokescreen to avoid raising fuel efficiency in the here and now. Their argument is multifaceted, but it can be cooked down to the claim that at every stage of the process, hydrogen is simply too expensive, both economically and environmentally. Building out a whole parallel infrastructure of hydrogen production facilities and gas stations would cost hundreds of billions of dollars, and it would have to be done up front, before...
In the 1970s and '80s, the United States effectively set many global product standards for consumer and environmental protection. Today, Europe is playing this role, while US government and industry oppose the resulting standards in Europe and in international arenas. Critics of the European Union's policies estimate costs in billions of dollars, while defenders argue that any increased costs incurred by manufacturers have previously been borne by consumers, the environment and waste contractors handling thousands of toxic substances.37
Genuine catastrophes, involving tens of thousands or millions of deaths, would magnify that loss to an unimaginable degree. A detailed literature on the social amplification of risk explores the secondary social losses that greatly outrun the initial effects of given events.43 The harm done by the attacks of 9 11, for instance, far exceeded the deaths on that day, horrendous as those were. One telling example Many people switched, in the aftermath of the attack, to driving long distances rather than flying, and the switch produced almost as many highway deaths as the attacks themselves, simply because driving is more dangerous than flying.44 The attacks had huge effects on other behaviors of individuals, businesses, and governments, resulting in costs of hundreds of billions of dollars, along with continuing fear, anxiety, and many thousands of additional deaths from the Afghanistan and Iraq wars.
Currently, governments spend billions of dollars each year on agricultural subsidy payments to farmers for production and inputs, primarily in the United States ( 13 billion in 2006, which was 16 percent of the value of agricultural production) and Europe ( 77 billion, or 40 percent of agricultural production value) but also in Japan, India, China, and elsewhere. Most of these payments exacerbate chemical use, the expansion of cropland to sensitive areas, and overexploitation of water and other resources while distorting trade and reinforcing unsustainable agricultural practices. Some countries are beginning to redirect subsidy payments to agri-environmental payments for all kinds of ecosystem services, and these can explicitly include carbon storage or emissions reduction.58
The development of a hydrogen infrastructure, besides the difficulties discussed earlier, is facing the chicken and egg dilemma . As long as there is no adequate hydrogen distribution infrastructure, there will be only a limited demand for hydrogen-powered cars and other applications, despite its obvious attractiveness as an energy storage material. On the other hand, there is no real incentive for investing hundreds of billions of dollars in a hydrogen infrastructure unless there is a solid and sustained demand for it. The question is how can the demand for hydrogen be stimulated, and will the hydrogen economy become real Today, the fate of the hydrogen economy seems to be tightly connected with the development of fuel cells which offer the promise of very efficient and zero-emission vehicles. Unfortunately, however, the questions raised about generation, handling and distribution of hydrogen are often neglected. Due to significant technical and economic challenges, the road to...
Hurricane Katrina, which devastated the Mississippi and Louisiana coasts in September 2005, flooding 80 percent of New Orleans, provided a vivid demonstration of what's at stake. Of course, no one event can be attributed to global warming, any more than a person's dying from lung cancer can be directly attributed to smoking or air pollution. The relationship is strictly statistical, a matter of probability. But there's little doubt that global warming makes events like Katrina more likely, and when they occur, the costs are staggering. Reconstruction and restoration of New Orleans and neighboring areas will cost the United States hundreds of billions of dollars.
Most importantly, recent weather and meteorological phenomena, such as the European and Asian floods of 2002 and radical climatic changes are increasingly affecting public acceptance of change. In fact, there is a growing clamor for radical change in our energy policies to save the environment and assure economic and political security. This is giving politicians not just in the West but globally the incentives to support changes in energy policy and decision making which in turn drives large-scale support for changes in vehicle propulsion. Billions of dollars are now spent by governments and industry to develop new, clean or non-polluting energy or power sources and the results are an imminent change, particularly in automobile propulsion. Gasoline consumption by automobiles has leveled off and is expected to decline 2-4 per year now on a global scale. This is important, as automobiles have become the largest petroleum consumer worldwide. Yet automobile consumption of petroleum may...
The reason millions of barrels of unconventional oil from tar sands are being produced in Canada, while extra heavy oil languishes in Venezuela (as described next), has everything to do with the business and political environment. The costs are roughly comparable. Oil companies prefer to invest billions of dollars in Canada because they're certain their facilities won't be nationalized. They're certain the government won't abruptly increase royalty rates or impose other costly conditions. They know there won't be a revolution or a civil war. They face market risks with tar sands in Canada, but not political risks.
Other important points to add include the risk that this initiative will lead to the establishment of other top-down funds that lack adequate developing country participation, in order to make a 'grab' for the billions of dollars of funding that will be available in coming years. Under the funds, new financing will include loans, credit, guarantees and grants. Offering concessional loans is in direct opposition to the principle that financing should be unconditional and underpinned by the polluter pays principle.31 And if these funds are to be counted towards ODA, they will again fail the key principles set out earlier in the paper.32
For Kuwait it made the difference between independence and becoming a province of Iraq. Egypt received and receives billions of dollars annually for public infrastructure and other projects as well as in support of its military, which keeps its government in power. The Saudi regime relies on the American protective umbrella to guard it against intrusion by its neighbors, while supporting vehemently anti-American and Western Wahhabi clerics and their disciples.
Considerable weight into moderating prices. When prices soar, OPEC has historically tried to dull price spikes by increasing production.50 It did exactly that in the early 1980s, and indeed oil prices tumbled, stranding billions of dollars in synfuel investments and stalling vehicle fuel economy improvements. Adel al-Jubeir, foreign policy adviser to Crown Prince Abdullah of Saudi Arabia, offered this frank assessment to the Wall Street Journal in 2004, just as oil prices began to increase sharply We've got almost 30 percent of the world's oil. For us, the objective is to assure that oil remains an economically competitive source of energy. Oil prices that are too high reduce demand growth for oil and encourage the development of alternative energy sources. In 2005, it ramped up oil production, from 8.8 million barrels per day in 2002 to 11.1 million, hoping to slow the steep rise in oil prices.51 What's surprising, especially to Saudi Arabia, is that global oil consumption hasn't...
Central estimates of emissions suggest a doubling of current C02 concentrations by the middle of the twenty-first century, leading to projected warming ranging from one degree Celsius to nearly six degrees Celsius (if aerosol effects are controlled) by the end of the twenty-first century (IPCC, 2001a). Warming at the low end of the uncertainty range could still have significant implications for a number of unique and valuable assets such as species adaptation (e.g. IPCC, 2001b, Chapter 19), whereas warming of five degrees or more could have catastrophic effects on natural and human ecosystems, including hydrological extremes and serious coastal flooding. The overall cost of these impacts in market sectors of the economy could easily run into many tens of billions of dollars annually (Smith & Tirpak, 1988, IPCC, 1996b). Although fossil fuel use contributes substantially to such impacts, associated costs are rarely included in the price of conventional fuels they are...
Lack of choice and lack of flexibility in regulatory markets have big costs, create big political fights, and thus big delays in addressing the global problems. In these last few years we have seen dramatic evidence of the cost of governments making the wrong market design choices. We have seen the project-based 'voluntary market' create dozens of methodologies and project approaches that have the capacity to scale up dramatically and impact global outcomes. And we have seen the EU ETS programme disclose high prices for big industry to shrink their footprint even a few per cent. But bad policy choices erected trade barriers against project-based tons in the EU ETS that are costing European nations billions of dollars, and sending the rest of the world a false signal about the cost to solve the climate change problem.
There are also major dislocations of fish stocks largely as a result of changing ocean temperatures and current patterns. It is difficult to estimate the total costs and economic impacts of global warming, but experts estimate them to be in the many hundreds of billions of dollars per year. These are just the direct costs and exclude secondary and consequential costs of global warming. Even more serious is the irreversibility of many of the developments caused by atmospheric pollution.
To take a more extreme, but equally pertinent, example, consider the sector that delivers water and sewer services to cities (SIC 680302). The total value added by this sector may be only in the tens or low hundreds of billions of dollars, which is insignificant in terms of the whole US GDP. But if these services were eliminated, the economy would collapse utterly. The multiplier effect in this case might be 100 or more. The point is that the real economy is not a homogeneous entity producing a single 'composite'
Most of the water used in a home isn't consumed. Instead, it's used for tasks like cleaning, watering, and so on. Yet many people today spend much more money for water they drink than on water they use for these other purposes. Why Because our society is fixated on bottled and or purified drinking water, which is almost always a waste of money and resources, and generates far more pollution than is necessary. In fact, evidence increasingly indicates that drinking purified water may lead to health problems. So what's the deal
I Use drippers instead of broadcast sprinklers for isolated plants, particularly when they're surrounded by bark or other ground cover that doesn't need any watering at all. You may have to spend more money up front on hardware, but you'll save a lot of water and your plants will be much healthier because they're getting water right where they want it in their root systems. Plus, they're fun do-it-yourself projects because you get to play with all these little parts that go very well together at least in theory.
In general, these options do cost more than regular service from the same electric utility. Before you balk at the idea of spending more money for the same product, though, do two things find out if your utility offers green-pricing options and get a firm quote on the price difference. Then you can decide whether the cost premium is reasonable for the change it represents.
An energy efficient mortgage (EEM) helps you qualify for a larger loan, because the money you'll save on energy costs gets taken into account right in the mortgage. That means you have more money to put toward a greener, more efficient home. EEMs are an option when you're buying a new home that's LEED- or Energy Star-certified. A recommendation of cost-effective energy upgrades (that is, upgrades that'll save more money than they cost to install).
Pump it all today, you can put the money you earn into CDs or some other investment. But if you expect that people will pay more for the oil next year, you may choose to save some, since you may be able to make more money when the price is higher a capital gain. How much higher would price have to be in period two to encourage you to hold onto the oil in period one If you could receive a 10 return on assets of similar risk in period one, and if the higher price provides you with a present value return higher than 10 , you would be better off holding onto the oil for future use. Decisions about how to use renewable resources such as trees and animals would be made similarly.
Before you buy the tools to install glass block on your own, contact at least two or three professional contractors. They may be able to complete the job for only a little more money than the cost of materials alone. That leaves you free to handle other tasks, and then just enjoy the results.
The world is experiencing its first demand crisis in more than two decades. We can blame China, OPEC, Iraq, and the oil peak for that, but we must also admit that the industry has gone through some structural changes that have had enormous influences on energy prices. Certainly, a case can be made that oil and gas have become asset commodities that are attracting more investors at a time when equity returns aren't great. In fact, that's why the American Stock Exchange introduced the first exchange-traded fund (ETF) tracking crude prices in April 2006. Exchange-traded funds have become hot on Wall Street because they give individual, average investors the opportunity to have control over their investments, by taking positions in crude oil rather than investing in shares of energy companies or mutual funds. In a kind of cyclical effect, these new investors have added, and will continue to add, market liquidity, causing oil prices to continue soaring, and energy companies also to make...
A similar principle was applied to budget votes in the US Congress under the pay as you go (PAYGO) procedure. Under this procedure, any-one offering an amendment to spend more money on a given activity had to include in that amendment a proposal either to cut other expenditures or raise revenues by an equal amount.32 Similarly, once a master plan for greenhouse gas reduction was eliminated, any plan to cancel a given project would have to include a plan to make up for the lost capacity elsewhere.
The correlation between income and happiness is surprisingly weak, observed University of Michigan researcher Ronald Inglehart in a 16-nation study of 170,000 people. Once comfortable, more money provides diminishing returns. Lottery winners and the 100 wealthiest Americans listed in Forbes express only slighter greater happiness than the average American. While the average American made only 8,700 in today's dollars in 1957, and today makes 20,000, over this period the number of Americans who say they are very happy has declined from 35 to 32 percent. Meanwhile, the divorce rate has doubled, teen suicide rates have tripled, violent crime has quadrupled, and more people are depressed. Today, more than ever before, we have big houses and broken homes, high incomes and low morale, secure rights and diminishing civility. We celebrate our prosperity, but yearn for a sense of purpose. In an age of plenty we are hungry for what money cannot buy. Having secured human rights and affluence, we...
The same method of reporting follows when important economic areas are covered. For example, when covering fishing news, the stories focus on the increase of fuel costs and rising cost of fish, the need to travel far to catch fish and the need to build better and long range boats. There is either little or no mention of the wastes they throw or the emissions they produce. There are also no reports on the need to re-introduce sails and other innovative and cost effective fishing methods. In covering tourism too, the news reports emphasise the need to build new resorts faster and get them in operation soon so that more money is earned and more jobs
Later, the local county of Northern Jutland had to decide whether to approve the plant or not. In the public debate, the argument of job creation from the construction work played an important role. As described in detail in Chapter 7, the coal-fired power station was one of the least local job-creating alternatives one could imagine when seen in relation to the lifetime of the plant. An investment in renewable energy in combination with fuel-saving technologies, such as conservation and distributed CHP plants, would save the imports of coal and leave more money for local job creation. However, the power companies' association in Western Denmark argued that if the coal-fired power station was not approved, they would spend the money investing in a power station somewhere else, outside the region of Northern Jutland. This led to a collective perception of no choice in the region. The alternative to the coal-fired power station and the jobs created, even though they were few, was...
There will always be uncertainty hovering over global environmental treaty negotiations. One way of handling uncertainty is to invest more money in basic environmental research that might produce the scientific equivalent of a smoking gun. As a result of ongoing British efforts to monitor meteorological change at the South Pole, for example, the hole in the ozone layer was confirmed, and directly linked to CFCs. That smoking gun certainly spurred action on the Montreal Protocol but that was a one-time event. There is no guarantee that expanding basic environmental research will yield the evidence that will reduce uncertainty on other global issues in a timely way. Another strategy would be to organize critical experiments that would establish beyond a doubt that an environmental threat exists, that it is caused in a certain way, and that one and only one response makes sense. The chances are, though, that such experiments will not present themselves.
The principal reason behind cost structure improvement from the 1990s to the present is the emphasis on improving the condition of plant structures and optimizing plant operations. Additionally, if these summary statistics reflect the industry as a whole, then taking out the worst performances will directly yield better average appearance for the indus-try.This is especially true when the retired units shown in Table 6.3 are removed from the list of industry plants. These tend to be much smaller than the average unit, were running less than rate typically desired, and had more money spent on ameliorating structures to come back into compliance with the NRC.
Managing Your Money At All Ages
Money management is an art. Sadly, it is becoming a lost art. We are becoming poorer each day just because we cannot manage the resources that we have so painstakingly accumulated. We don’t know how to manage our assets and nurture them to grow.