Most recent 40 articles: Economist
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Kenya wants to pioneer a new African approach to global warming - Economist (Sep 14, 2023) |
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Sep 14, 2023 · Your browser does not support the <audio> element.
On September 3rd William Ruto drove himself to a curtain-raiser for the Africa Climate Summit in a small yellow electric car, flanked by bodyguards riding electric motorbikes. Mr Ruto, Kenya’s president, sees climate diplomacy as a way of burnishing his reputation in the West. But during the summit - the first dedicated to Africa’s response to the warming planet - the motorcades of visiting presidents had a more familiar look. While the politicians talked green inside the venue in Nairobi, Kenya’s capital, outside were rows of petrol-guzzling SUVs.
A gap between symbol and substance is common when it comes to ... Read more ...
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The choice between a poorer today and a hotter tomorrow - Economist (Jun 27, 2023) |
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Jun 27, 2023 · Suppose, for a minute, that you are a finance minister in the developing world. At the end of a year in which your tax take has disappointed, you are just about out of money. You could plough what little remains into your health-care system: dollars spent by clinics help control infectious diseases, and there is not much that development experts believe to be a better use of cash. But you could also spend the money constructing an electrical grid that is able to handle a switch to clean energy. In the long run this will mean less pollution, more productive farmland and fewer floods. Which is a wiser use of the marginal dollar: alleviating acute poverty straight away or doing your ... Read more ...
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Can carbon removal become a trillion-dollar business? - Economist (May 21, 2023) |
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May 21, 2023 · “TODAY WE SEE the birth of a new species,” declared Julio Friedmann, gazing across the bleak landscape. Along with several hundred grandees, the energy technologist had travelled to Notrees, a remote corner of the Texas oil patch, in late April. He was invited by 1PointFive, an arm of Occidental Petroleum, an American oil firm, and of Carbon Engineering, a Canadian startup backed by Bill Gates. The species in question is in some ways akin to a tree - but not the botanical sort, nowhere to be seen on the barren terrain. Rather, it is an arboreal artifice: the world’s first commercial-scale “direct air capture” (DAC) plant.
Your browser does not support the <audio> ... Read more ...
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What America does after a debt-ceiling disaster - Economist (May 15, 2023) |
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May 15, 2023 · America is once again in the throes of a debt-ceiling crisis. If Congress and the White House do not come to a deal, the government may run out of cash, and be on the brink of a sovereign default, in just a few weeks’ time. Most investors expect a last-minute compromise, thereby avoiding financial Armageddon, as during past crises. Yet positions on each side of the aisle look entrenched: Republicans want big spending cuts; Democrats are resisting. So the White House must consider its break-glass options. If there is no agreement, what would President Joe Biden do?
There are two broad kinds of workarounds - one magical, the other messier and neither appealing - that the Biden ... Read more ...
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The aviation industry wants to be net zero - but not soon - Economist (May 14, 2023) |
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May 14, 2023 · FLYING IS A dirty business. Airliners account for more than 2% of the annual global emissions from the burning of fossil fuels, many times commercial aviation’s contribution to world GDP. Two forces look poised to push this figure up in the years to come.
First, people love to fly. IATA, the airline industry’s trade body, predicts that 4bn passengers will take to the skies next year, as many as did in 2019, before covid-19 temporarily grounded the sector. Airlines could be hauling around 10bn passengers by mid-century (see chart 1). Boeing, an American planemaker, estimates that this will require the global fleet to roughly double from around 26,000 in 2019 to 47,000 by 2040. ... Read more ...
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It's time the West committed to Ukraine for the long haul, says Fabrice Pothier - Economist (May 12, 2023) |
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May 12, 2023 · ITS CAFES may be buzzing, but the mood in Kyiv is downbeat these days. True, Ukrainians have made it through a winter that brought the economy and society to the brink. The Ukrainian army is holding against grinding Russian pressure. Yet the message from some Western leaders, that Ukraine cannot expect much more support after its spring offensive, seems to have sunk in.
Russia’s war against Ukraine is reaching a crucial moment. In the short term, Ukraine is set to launch its much-anticipated counter-attack. In the longer term, Western leaders need to take hard decisions to address the fact that a democratic and sovereign Ukraine is now part of the West’s fundamental security ... Read more ...
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A new world order seeks to prioritise security and climate change - Economist (May 11, 2023) |
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May 11, 2023 · After the cold war, America and Europe established an economic order based upon open markets, global trade and limited state meddling in the economy. Climate change was a distant threat. Allowing countries like China or Russia into the global economy was widely seen to be beneficial for both them and their Western trading partners. As the two countries grew they would surely adopt market economics and, ultimately, democracy. Other things mattered. But economic considerations took precedence.
Not anymore. Policymakers on both sides of the Atlantic have come to the conclusion that national security and climate change must now come first. In Brussels talk is of “economic ... Read more ...
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Are electric vehicles recharging the car industry? - Economist (May 11, 2023) |
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May 11, 2023 · BUYING A CAR used to be about two things: style and performance. But as motorists trade in their petrol or diesel cars for electric vehicles, manufacturers are increasingly focusing on experience by adding features like karaoke machines and mood lighting. Those drivers also have a lot more choices. The ditching of internal combustion engines in favour of battery-power has allowed new car makers to enter the market. But rather than thinking like BMW or Ford, they are looking to firms like Apple for their inspiration.
On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin examine the remaking of the auto industry. The Economist’s Simon Wright explains that ... Read more ...
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Britain plays catch-up in a global scramble for critical minerals - Economist (May 11, 2023) |
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May 11, 2023 · IN CORNWALL’S MINING heyday in the 18th and 19th centuries, copper and tin were hewed from beneath the county’s craggy landscape. Many attempts at revival have failed, but another is under way. In April Cornish Lithium began its latest search for a prized metal of the 21st century, drilling a borehole near the village of Blackwater. Jeremy Wrathall, its founder, expects to be producing lithium by 2026. Another Cornish company, British Lithium, also expects to be in full production by then.
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Lithium, which is used to make batteries for electric vehicles (EVs), is classed as a “critical mineral” - economically ... Read more ...
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“Why must we have an election?” Turkish earthquake survivors wish a plague on every party - Economist (May 09, 2023) |
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May 09, 2023 · In a rubbish-filled valley overlooked by one of the oldest churches in the world, the air is thick with flies. A thin, muck-clogged stream winds past tents and makeshift shelters, which are huddled against the base of a mountain. There is a smell of rot and human waste. Children play in the dirt outside while their parents sit in the shade, seeking some respite from the rising heat. Here in Antakya, thousands of survivors of the twin earthquakes that struck southern Turkey on February 6th 2023 have been left to fend for themselves.
Just up the hill, their homes lie in ruins. Many houses were crushed by enormous rocks, and many more were rendered uninhabitable. Those that were ... | By Erin O’Brien Read more ...
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Peter Carlsson on how the global battery race should be run - Economist (May 09, 2023) |
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May 09, 2023 · ONE OF MY most harrowing, and motivating, meetings of the past few months was with Johan Rockström, a fellow Swede and globally leading researcher of climate impact at the Potsdam Institute. He told me that although we are trying to limit global warming to 1.5°C above pre-industrial levels, today’s projections show a trend towards a 2.8-2.9°C increase. That would mean a very different world from the one we currently live in.
We now have 10-15 years to halve our carbon footprint, and batteries are a key technology to replace the use of coal, oil and natural gas before it’s too late. But it will only work if we expand the industry in a sustainable way - and that’s not happening ... Read more ...
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“There will be plenty of bowing, lashings of chanting and way too many men in tights” - Britain crowns a king - Economist (May 05, 2023) |
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May 05, 2023 · HE HAS BEEN king since September; now it is time for the pomp. We examine the modern monarchy - and the ancient frippery of coronations. Despite prior reluctance to do much about climate change, America is set to become a clean-energy superpower. And reflecting on the life of Carolyn Bryant, whose testimony led to a lynching that set off America’s civil-rights movement. Runtime: 29 min
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Our podcast on markets, the economy and business. This week, ... Read more ...
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Ocean-surface temperatures are breaking records - Economist (May 05, 2023) |
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May 05, 2023 · To read more of The Economist’s data journalism visit our Graphic Detail page.
HUMANS HAVE long used the ocean as a dumping zone. Piles of rubbish have accumulated in the sea and endangered marine life. But apart from plastic, oceans and their inhabitants also bear the brunt of human-made emissions and a warming planet. Oceans have soaked up about 90% of the excess heat caused by greenhouse-gas emissions in recent decades. One symptom of this has been a gradual increase in the temperature of surface waters, and this year’s rise has been particularly alarming. On April 1st, average global sea-surface temperatures reached 21.1°C (70.0°F). The new record is more than half a ... Read more ...
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The science behind the perfect storm - Economist (May 05, 2023) |
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May 05, 2023 · Hurricanes are among the most destructive natural phenomena on earth. Their devastating force lies not only in their sheer wind power, but also in the storm surges and extreme rainfall that follow when they make landfall. As global warming transforms the planet’s oceans, Oliver Morton, senior editor at The Economist, explores how hurricanes are affected by rising temperatures and what this means for the coastal communities in their path.
Threats to humanity
The line between public and private wealth can be blurry
What next? Read more ...
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China needs foreign workers. So why won't it embrace immigration? - Economist (May 04, 2023) |
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May 04, 2023 · For hundreds of years China could boast of having more people than any other country. The title became official in the 1950s, when the UN began compiling such data. Such a large population conferred on China certain bragging rights. A huge labour supply also helped to boost its annual GDP growth, which has averaged close to 9% over the past three decades.
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Last month China’s reign came to an end. India has overtaken it as the world’s most populous country. The demographic trends behind the shift have troubling implications for the new number two. China’s working-age population has been shrinking for a decade (see ... Read more ...
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Europe will need to fundamentally reset its fiscal policies - Economist (May 04, 2023) |
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May 04, 2023 · Fiscal rules always have exemptions. The one California passed in 1849 had an exception in case of insurrection. Many resource-rich countries’ rules can be suspended if commodity prices crash. And most guidelines have some kind of out in case of a pandemic. But in Europe exemptions have become so frequent lately that it is not clear how to reinstate the rules at all.
The EU’s member states are arguing with Brussels over how to change the rules before re-applying them. Debt levels and interest rates are far higher than in 2019, when the rules last applied (see chart). But spending needs for security, defence, energy and climate protection have gone only one way. The European ... Read more ...
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The green revolution will stall without Latin America's lithium - Economist (May 02, 2023) |
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May 02, 2023 · Over half of the world’s lithium, a metal used in batteries for electric vehicles, can be found in Latin America. The region also has two-fifths of its copper and a quarter of its nickel. Recently delegations from the United States and the European Union have flocked there partly to secure resources that will be needed in the energy transition and to diversify their supply away from China. In March John Kerry, President Joe Biden’s climate tsar, visited the continent. German officials have scheduled at least three high-level meetings in South America this year. Ursula von der Leyen, the president of the European Commission, looks set to visit in the coming months.
But even as ... Read more ...
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Accounting for flood risk would lower American house prices by $187bn - Economist (Apr 25, 2023) |
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Apr 25, 2023 · Floods are the most expensive type of natural disaster in America, causing at least $323bn in direct damage since 1960 after accounting for inflation. Unlike other types of risks, private insurers generally do not offer residential coverage for floods.
Your browser does not support the <audio> element.
To fill this void, Congress set up the National Flood Insurance Programme (nfip). Homeowners in “100-year floodplains”, where regulators reckon that the chance of flooding each year is at least 1%, can get government-backed mortgages only if they are insured. But on average, the amount of money that the nfip collects in premiums each year is less than the amount it ... Read more ...
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“Leave now if you ever will”: running from mortar fire in Sudan - Economist (Apr 22, 2023) |
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Apr 22, 2023 · The night before street warfare broke out in Khartoum, I was at a cultural centre in the north of the city listening to a panel of feminist speakers. It was the kind of event that would have been unthinkable under Omar al-Bashir, the dictator ousted by a popular uprising four years ago. Under Bashir, Sudan was one of the most oppressive places in the world to be a woman, and it was women who led the protests against him.
The panellists that night talked about strategies for forcing legal reforms (Sudanese courts can still sentence women to be stoned to death for adultery). Afterwards the audience, which contained men as well as women, carried on discussing the issues over tea, ... | By Raga Makawi Read more ...
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How Japan is losing the global electric-vehicle race - Economist (Apr 16, 2023) |
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Apr 16, 2023 · The green floors of JATCO’s Fuji Area 2 factory hum with quiet confidence. Diligent inspectors appraise the gears and pulleys that make up the Japanese auto-parts maker’s transmission systems. Robots stamp parts and flip them onto production lines. For decades, JATCO, like the rest of Japan’s vaunted auto industry, has perfected carmaking. Japan has been at the forefront of the industry, pioneering just-in-time manufacturing and leading the development of hybrid cars. But the next big evolution - the shift to electric vehicles (EVs) - has become a source of angst. “The EV shift will be a big transformation, there’s no denying that,” says Sato Tomoyoshi, JATCO’s CEO. “Our company ... Read more ...
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An electric shock - Economist (Apr 14, 2023) |
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Apr 14, 2023 · Carl Benz may have been the first person successfully to marry the horseless carriage with the ICE. But early dalliances with batteries predate him. As early as the 1830s Robert Anderson, a Scot, developed a rudimentary EV, but it was not a success. Even after the car industry really took off in the 1890s, as French and American firms joined the fray, electric power was still in the ascendancy. In America in 1900, almost twice as many electric- as petrol-driven vehicles were on the road. Then the Ford Model T, cheaply made by mass production, a growing oil industry and a wider availability of petrol sealed the fate of battery power.
Despite half-hearted resurrections such as ... Read more ...
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Troublesome tensions - Economist (Apr 14, 2023) |
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Apr 14, 2023 · THE WORLD’S carmakers are nowadays perforce learning from Chinese car firms and their customers what the future might look like. Similarly, Chinese carmakers are trying to understand what they need to do to conquer the West. Just as big firms have engineering and design centres in China, so do Chinese firms in America and Europe. But even as foreign carmakers begin to struggle in China, Chinese hopes of selling millions of cars abroad may fall foul of a deteriorating political landscape. A souring of relations between America and China means rising geopolitical tensions, new trade barriers, a subsidy race, shifting supply chains and tighter restrictions on access to Western ... Read more ...
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What to read to understand the biggest natural disasters - Economist (Apr 14, 2023) |
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Apr 14, 2023 · THE WORD disaster derives from the Italian dis and astro, which together mean ill-starred. Disasters are borne of astrological misalignment. Or they are seen as acts of God. In either case, they are beyond human control. That is partly true. Humans do not cause earthquakes, hurricanes, tsunamis or volcanic eruptions. Yet their impact has much to do with human decisions. As Andy Horowitz, a historian whose book appears on this list, has written, disasters prompt questions of whom to save, what to leave behind and who decides. Widespread suffering is not inevitable, but rather the result of choices made long before a disaster strikes. Take the earthquake in Turkey and Syria in ... Read more ...
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A different way to measure the climate impact of food - Economist (Apr 11, 2023) |
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Apr 11, 2023 · EATING A JUICY steak is worse for the environment than frying up some tofu: that much should come as no surprise. Going vegan can dramatically cut the carbon footprint of your diet. But what about the fewer calories, and lower levels of protein, found in most plant-based foods when compared with meat? That makes it hard to compare emissions of meals that are equally nutritious.
To make the relative carbon impact of foods easier to digest, The Economist proposes a banana index (see our interactive chart below). It compares popular foodstuffs on three metrics - weight, calories and protein - indexed to the humble banana, a fruit of middling climate impact and nutritional ... Read more ...
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Accounting for flood risk would lower American house prices by $187bn - Economist (Apr 11, 2023) |
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Apr 11, 2023 · Floods are the most expensive type of natural disaster in America, causing at least $323bn in direct damage since 1960 after accounting for inflation. Unlike other types of risks, private insurers generally do not offer residential coverage for floods.
To fill this void, Congress set up the National Flood Insurance Programme (nfip). Homeowners in “100-year floodplains”, where regulators reckon the chance of flooding each year is at least 1%, can get government-backed mortgages only if they are insured. But on average, the amount of money that the nfip collects in premiums each year is less than the amount it has to pay out, so it has to borrow, thus passing the bill on to the ... Read more ...
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America's $800bn climate splurge is feeding a new lobbying ecosystem - Economist (Apr 10, 2023) |
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Apr 10, 2023 · DAVID, WHO runs a well-trafficked shoe-shine stand at a huge convention centre just outside Washington, was in a good mood as he surveyed the delegates at a recent event there. They were attending the ARPA-E summit, an annual pow-wow put on by the Department of Energy (DoE), and were tipping well. A few weeks earlier, when Donald Trump spoke at that same venue at a gathering of conservative Republicans, David was forced to shut down his stand and lost business. It is not his only grumble about Mr Trump: “When he ran for office he promised to drain the swamp, but he turned out to be the biggest crocodile of them all.”
David is right. During Mr Trump’s presidency, lobbyists for ... Read more ...
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Rivalry between America and China has spread to the Indian Ocean - Economist (Apr 10, 2023) |
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Apr 10, 2023 · A“FREE AND OPEN INDO-PACIFIC”, intended to encompass both the Indian and the Pacific Oceans, is the hottest geopolitical slogan. Yet when strategists talk about the Indo-Pacific they often mean just the Pacific, and then only the far-western part, around the South China Sea and the East China Sea. It is there that a struggle for primacy is at its fiercest between America, dominant since the second world war, and a resurgent China. Yet the Indian Ocean, relatively neglected until recently, is now having a moment.
The economic dynamism of its rim and great importance of the ocean as a hub for trade in goods and energy has long been recognised. Now its strategic significance is ... Read more ...
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The growth environmentalism needs, gender medicine and why Democrats keep helping Donald Trump - Economist (Apr 10, 2023) |
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Apr 10, 2023 · A SELECTION OF three essential articles read aloud from the latest issue of The Economist. This week, the case for hugging pylons, not trees. Also, the transatlantic divide on gender-medicine (10:30) and why do Democrats keep helping Donald Trump? (17:55) Runtime: 24 min
Please subscribe to The Economist for full access to print, digital and audio editions: www.economist.com/podcastoffer
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Also on the daily podcast: the next generations of vaccines and why the market for Picassos is cooling
Also on the daily podcast: scarce data reignite mask-wearing debates and an immersive production of “Guys ... Read more ...
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Europe drastically cut its energy consumption this winter - Economist (Apr 05, 2023) |
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Apr 05, 2023 · To read more of The Economist’s data journalism visit our Graphic Detail page.
ROCKETS, BULLETS and shells have been Vladimir Putin’s weapons of choice in Ukraine. In the rest of Europe, Russia’s president has resorted to tightening the gas taps. Russia used to supply 40-50% of the EU’s natural-gas imports - a reliance that meant Mr Putin’s war on his neighbour wreaked havoc on energy markets. Amid fears of a shortage, the EU set a target in August to reduce natural-gas consumption by 15% over the winter (it recently announced this would remain in place for the next 12 months, too). Data released in late March by Bruegel, an economic think-tank in Brussels, showed that it met ... Read more ...
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The case for an environmentalism that builds - Economist (Apr 05, 2023) |
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Apr 05, 2023 · The sheer majesty of a five-megawatt wind turbine, its central support the height of a skyscraper, its airliner-wingspan rotors tilling the sky, is hard to deny. The solid-state remorselessness with which a field of solar panels sucks up sunshine offers less obvious inspiration, but can still stir awe in the aficionado. With the addition of some sheep safely grazing such a sight might even pass for pastoral. The sagging wires held aloft by charmless, skeletal pylons along which the electricity from such installations gets to the people who use it, by contrast, are for the most part truly unlovely. But loved they must be.
If the world’s climate is to be stabilised, stopping ... Read more ...
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Global warming is killing Indians and Pakistanis - Economist (Apr 02, 2023) |
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Apr 02, 2023 · In the opening scenes of “The Ministry for the Future”, the novelist Kim Stanley Robinson imagines what happens to a small Indian town hit by a heatwave. Streets empty as normal activity becomes impossible. Air-conditioned rooms fill with silent fugitives from the heat. Rooftops are littered with the corpses of people sleeping outside in search of a non-existent breath of wind. The electricity grid, then law and order, break down. Like a medieval vision of hell, the local lake fills with half-poached bodies. Across north India, 20m die in a week.
Mr Robinson said he wrote his best-seller, published in 2020, as a warning. The Indo-Gangetic Plain, which extends from the spine of ... Read more ...
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5. Through the forest - Economist (Apr 01, 2023) |
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Apr 01, 2023 · When the full scale invasion of Ukraine began in February 2022, Russians opposed to Vladimir Putin began quoting the work of the great novelist Leo Tolstoy. Grigory Sverdlin has been fighting back, as Tolstoy prescribed, with acts of empathy and kindness - from helping homeless people to aiding Russians dodge the draft.
New episodes released on Saturdays.
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Also on the daily podcast: the rise of small-town Africa and an ode to sports ... Read more ...
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Copper is the missing ingredient of the energy transition - Economist (Mar 30, 2023) |
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Mar 30, 2023 · At 76, RICHARD ADKERSON is an elder statesman of the copper industry. For two decades he has been CEO of Freeport-McMoRan, one of the world’s biggest copper producers, valued at $55bn. He has seen it all, from short-term booms and busts to the China-led supercycle, and from industry fragmentation to consolidation. Freeport itself has pioneered some of the trends. In 2007, when it paid $26bn for Phelps Dodge, an Arizona-based company dating back to the Wild West days of the 19th century, it was the biggest mining transaction ever. It was also a masterstroke. Not so the company’s ill-fated diversification into oil and gas less than half a decade later, which he says was not his idea. ... Read more ...
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There is a global rice crisis - Economist (Mar 28, 2023) |
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Mar 28, 2023 · According to Indonesian legend, rice was bestowed upon the island of Java by the goddess Dewi Sri. Pitying its inhabitants the blandness of their existing staple, cassava, she taught them how to nurture rice seedlings in lush green paddy fields. In India, the Hindu goddess Annapurna is said to have played a similar role; in Japan, Inari. Across Asia, rice is conferred with a divine, and usually feminine, origin story.
Such mythologising is understandable. For thousands of years the starchy seeds of the grass plant Oryza sativa (often called Asian rice) have been the continent’s main foodstuff. Asia accounts for 90% of the world’s rice production and almost as much of its ... Read more ...
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Drought killed 43000 people in Somalia last year - Economist (Mar 25, 2023) |
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Mar 25, 2023 · First the rains in Somalia failed in 2021. Then they failed again and again and again and again. For five wet seasons in a row, Somalis looked anxiously to the skies while their crops withered, their cattle perished and many people died of hunger or disease. A new report, released by UN agencies and the Somali government, estimates that there were 43,000 “excess deaths” in the country last year, relative to the typical level. Half of the dead were children under the age of five.
This hunger is the deadliest in Somalia since the famine of 2010-11, which claimed 260,000 lives. And it will get worse before it gets better. Researchers at the London School of Hygiene and Tropical ... Read more ...
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What to read about the Sunshine State - Economist (Mar 24, 2023) |
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Mar 24, 2023 · ONCE AGAIN, Florida is booming. Home to just 250,000 people at the end of Reconstruction in 1877, it now has over 22m - more than any other American state except California and Texas. Hurricanes and other disasters have proved to be mere temporary setbacks. In 2010-20 the population expanded by 15%, twice the national rate. Miami has a vibrant tech cluster, art scene and finance hub. “We’re growing in Florida left and right,” Jamie Dimon, the boss of JPMorgan Chase, a big bank, said recently. The state is home to the two leading Republican contenders for the presidency in 2024: Donald Trump, the former president, based in Palm Beach, and Ron DeSantis, the governor, who wants to ... Read more ...
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“The lungs of the world are under threat. This makes no sense” - lawlessness and the rainforest crisis - Economist (Mar 17, 2023) |
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Mar 17, 2023 · THE ECONOMICS are clear-cut: the benefits of preserving the lungs of the world vastly outweigh those of felling trees. We travel to the Amazon and find that the problem is largely down to lawlessness in the world’s rainforests. And reflecting on the life of Oe Kenzaburo, a Japanese writer shaped by family crisis who gave voice to the voiceless. Runtime: 25 min
Listen on: Apple Podcasts | Spotify | Google | Stitcher | TuneIn
For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer
In episode 4 of our podcast, Arkady Ostrovsky talks to the actor Chulpan Khamatova whose work has brought her up close with ... Read more ...
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Has Emmanuel Macron doomed France's government by pushing through his reforms? - Economist (Mar 16, 2023) |
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Mar 16, 2023 · WHEN EMMANUEL MACRON lost his parliamentary majority at legislative elections in June 2022, it was always going to make his second term as French president more difficult. Quite how much so was revealed on March 16th. Despite frantic last-minute efforts, his government failed to secure the votes needed to pass a pension reform through normal parliamentary procedure. Instead, it activated an article of the constitution, 49.3, which enables it to force the reform through without a vote - but at the risk of provoking a political crisis.
Right up to the end, Mr Macron and his prime minister, Elisabeth Borne, had hoped to scrape together enough votes to pass their reform, which ... Read more ...
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Jeremy Hunt's budget is better at diagnosis than treatment - Economist (Mar 15, 2023) |
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Mar 15, 2023 · The bar for a successful budget has been dramatically lowered in Britain over the past year. By not blowing up the gilts market on March 15th, Jeremy Hunt, the chancellor of the exchequer, easily bested his predecessor, Kwasi Kwarteng. He managed to talk about tackling Britain’s long-run growth problems without relying on magical thinking about unfunded tax cuts. But Mr Hunt’s budget, a little like the man himself, was nonetheless a curious mixture of the reassuring and the unnerving. The country is in much more competent hands with him and Rishi Sunak, the prime minister, at the helm, but its underlying troubles persist.
Start with the reassuring elements. Mr Hunt is taking a ... Read more ...
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In America climate hawks and Big Oil alike cheer geothermal energy - Economist (Mar 14, 2023) |
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Mar 14, 2023 · EXIT THE LIFT on the top floor of the Houston Museum of Natural Science, and the mechanical beeps and whirrs of a model offshore oil rig welcome you to an exhibit entirely devoted to energy. Explore the riveting history of drill bits or how fracking works, all conspicuously sponsored by Exxon, Chevron or another oil major. Amid all the cheerleading for oil and gas is a small section dedicated to renewable energy. But in a few years, perhaps a whole wall will be devoted to a different type of drilling - for heat instead of hydrocarbons.
The Inflation Reduction Act, passed by Congress last year, offers lots of federal subsidies for established low-carbon technologies, such as ... Read more ...
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