Tag Archives: brita

Hillary Clinton Lays Out the Case Against Donald Trump

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

Hillary Clinton gave a “big” foreign policy speech yesterday, but it wasn’t really a foreign policy speech. That is, its purpose wasn’t to spell out a “Hillary Doctrine” or reprise her well-known positions on various global issues. Its purpose was to clearly expose Donald Trump as the ignorant cretin he is. And it did!

He is not just unprepared — he is temperamentally unfit to hold an office that requires knowledge, stability and immense responsibility. Applause This is not someone who should ever have the nuclear codes — because it’s not hard to imagine Donald Trump leading us into a war just because somebody got under his very thin skin.

….He has said that he would order our military to carry out torture and the murder of civilians who are related to suspected terrorists — even though those are war crimes. He says he doesn’t have to listen to our generals or our admirals, our ambassadors and other high officials, because he has — quote — “a very good brain.” Laughter He also said, “I know more about ISIS than the generals do, believe me.” You know what? I don’t believe him.

….It’s no small thing when he suggests that America should withdraw our military support for Japan, encourage them to get nuclear weapons, and said this about a war between Japan and North Korea — and I quote — “If they do, they do. Good luck, enjoy yourself, folks.” I wonder if he even realizes he’s talking about nuclear war?

….And I have to say, I don’t understand Donald’s bizarre fascination with dictators and strongmen who have no love for America. He praised China for the Tiananmen Square massacre; he said it showed strength. He said, “You’ve got to give Kim Jong Un credit” for taking over North Korea — something he did by murdering everyone he saw as a threat, including his own uncle, which Donald described gleefully, like he was recapping an action movie. And he said if he were grading Vladimir Putin as a leader, he’d give him an A.

Now, I’ll leave it to the psychiatrists to explain his affection for tyrants. Applause I just wonder how anyone could be so wrong about who America’s real friends are. Because it matters. If you don’t know exactly who you’re dealing with, men like Putin will eat your lunch.

….Just look at the few things he’s actually said on the subject of ISIS. He’s actually said — and I quote — “maybe Syria should be a free zone for ISIS.” Oh, okay — let a terrorist group have control of a major country in the Middle East. Then he said we should send tens of thousands of American ground troops to the Middle East to fight ISIS. He also refused to rule out using nuclear weapons against ISIS, which would mean mass civilian casualties. It’s clear he doesn’t have a clue what he’s talking about.

….It also matters when he makes fun of disabled people, calls women pigs, proposes banning an entire religion from our country, or plays coy with white supremacists. America stands up to countries that treat women like animals, or people of different races, religions or ethnicities as less human. Applause What happens to the moral example we set — for the world and for our own children — if our President engages in bigotry?

….Imagine Donald Trump sitting in the Situation Room, making life-or-death decisions on behalf of the United States. Imagine him deciding whether to send your spouses or children into battle. Imagine if he had not just his Twitter account at his disposal when he’s angry, but America’s entire arsenal. Do we want him making those calls — someone thin-skinned and quick to anger, who lashes out at the smallest criticism? Do we want his finger anywhere near the button?

Very nice! Hillary’s remarks seem to have left Trump relatively speechless.1 The best he could do was to claim he is “the opposite of thin-skinned”;2 that Hillary’s temperament is bad; that she read her speech badly; that she is “pathetic”; and that she killed four people in Benghazi. By Trump’s standard, this is very weak tea. All he could do was stutter the equivalent of “I know you are, but what am I?”

Apparently this speech really did get under his skin. But what can he do? His own record over the past few months shows that he’s abysmally ignorant of foreign affairs. He doesn’t know what the nuclear triad is.3 He favors Britain leaving the EU but has never heard of “Brexit.”4 He doesn’t know where Iraq’s oil is.5 He doesn’t know the difference between Hezbollah and Hamas.6 He’s blissfully unaware that Germany cares a great deal about Ukraine.7 He was taken by surprise when he learned that US companies aren’t allowed to sell planes to Iran.8 He thinks Iran is the main trading partner of North Korea.9 These are all howling bloopers. Anyone who had so much as perused a daily newspaper over the past couple of decades would be familiar with all this stuff.

Apparently Trump hasn’t done that. What’s more, over the past year, while he was running for president, he still didn’t bother. This is inexplicable, even for Trump. How is it that he hasn’t picked up more stuff just by osmosis? It’s not only scary, it’s genuinely puzzling. He obviously cares so little about foreign affairs that he actively resists learning anything about it. I guess that might ruin his prized ability to say anything he wants without letting facts get in the way.

1Note that “relatively” is the key word here. Nothing actually shuts the guy up.

2Just spitballing here, but I think the word he’s searching for is “thick-skinned.”

3Missiles, airplanes, and submarines.

4Brexit = Britain Exit.

5Pretty much all over the country.

6Hezbollah operates in Lebanon; Hamas operates in Israel (the Gaza Strip and the Palestinian Territories).

7For example: “From the start, Merkel has played an impressive role in responding to the Ukraine crisis. In fact, her actions have allowed Germany to assume geopolitical leadership of Europe for the first time since 1945.” Or this: “In the course of the Ukraine conflict that erupted in 2014, Germany has for the first time taken the lead on a major international crisis. The main center of Western action and coordination hasn’t been Washington, Brussels, Paris, or London, but Berlin.” Or this from last year’s G7 meeting: “Germany, Britain and the US want an agreement to offer support to any EU member state tempted to withdraw backing for the sanctions on Moscow, which are hurting the Russian economy.” Etc.

8From his March New York Times interview: “Did you notice they’re buying from everybody but the United States? They’re buying planes, they’re buying everything, they’re buying from everybody but the United States.” NYT: “Our law prevents us from selling to them, sir. ” Trump: “Uh, excuse me?” NYT: “We still have sanctions in the U.S. that would prevent the U.S. from being able to sell that equipment.”

9From the same interview: “Mr. Trump with all due respect, I think it’s China that’s the No. 1 trading partner with North Korea.” Trump: “I’ve heard that certainly, but I’ve also heard from other sources that it’s Iran.” Actually, it’s China.

See the original article here: 

Hillary Clinton Lays Out the Case Against Donald Trump

Posted in bigo, Brita, Everyone, FF, GE, LAI, LG, ONA, PUR, Uncategorized, Venta | Tagged , , , , , , , | Comments Off on Hillary Clinton Lays Out the Case Against Donald Trump

Europe keeps hitting clean energy milestones

Europe keeps hitting clean energy milestones

By on May 18, 2016Share

May has been a good month for clean energy in Europe. Coal plants have faltered and wind farms are thriving, and not just in Denmark, the continent’s shining example of renewable energy. We’re whizzing by milestones right and left!

1. Portugal ran on renewables alone for four days straight

For a stretch of 107 hours over four days in early May, solar, wind, and hydro power were the only sources for Portugal’s electricity. That’s a big jump from just three years ago, the Guardian points out, when Portugal generated half its electricity from fossil fuels.

2. Germany was almost entirely powered by solar and wind

Clean energy supplied a record 87 percent of Germany’s electricity in the middle of a sunny, windy day on May 8. The country’s renewables produced so much energy the price of electricity sunk low enough that people were getting paid to use it. That’s because coal and nuclear plants couldn’t shut down fast enough to respond to the excess power.

3. Britain was powered without coal for the first time in 130 years

Britain’s electricity generated from coal fell to zero for about a third of the time between May 9 and 15. This marks the first time Britain didn’t rely on coal since 1882, when it opened the first public power station.


All these examples have one important thing in common: Renewables supplied enough electricity for days, not hours. And if renewable prices continue to fall and storage technology improves, it could be a glimpse of what’s to come on an extended basis.

Find this article interesting?

Donate now to support our work.

Get Grist in your inbox

Original link – 

Europe keeps hitting clean energy milestones

Posted in alo, Anchor, Brita, FF, GE, ONA, solar, Uncategorized, wind power | Tagged , , , , , , , , , , | Comments Off on Europe keeps hitting clean energy milestones

How California got way ahead of the rest of the world in fighting climate change

How California got way ahead of the rest of the world in fighting climate change

By on 22 Mar 2016commentsShare

This story was originally published by Mother Jones and is reproduced here as part of the Climate Desk collaboration.

Jennifer Gill got pregnant with her first child when she was in eighth grade. She didn’t finish high school, but she got her GED during a stint in prison for forgery. For most of her working life she was a waitress in and around the town of Oildale, a suburb of Bakersfield in the southern tip of California’s Central Valley. “We come from backgrounds where minimum wage is the best we can hope for,” she says. Then, four years ago, Gill happened to see a television commercial for a solar-panel installation course at a local community college.

Within a few weeks, the 46-year-old was out in the field, helping install photovoltaic panels for the engineering behemoth Bechtel and making more than $14 an hour. She quickly got another job installing panels for another solar farm, this time for over $15 an hour. Now she’s in an apprenticeship program with the International Brotherhood of Electrical Workers, and for the first time in her life she has retirement benefits. At her urging, her younger sister, who had lost her job at a local Dollar Tree, signed up to become a solar-panel installer. Other friends followed suit. “Some of these folks have bought houses now,” Gill says.

Ivanpah Solar under construction, near the Mojave Desert and the border of Nevada.Jamey Stillings

This past fall, Gill was working at Springbok 1, a solar field on about 700 acres of abandoned Kern County farmland. In a neighboring field, workers recently broke ground on Springbok 2. A few months earlier, 35 miles south on the flat, high-desert scrubland of the Antelope Valley, workers locked into place the last of 1.7 million panels for the Solar Star Projects, owned by Warren Buffett’s Berkshire Hathaway. The panels are arrayed in neat rows across 3,200 acres, an area nearly four times the size of New York’s Central Park. In June, Solar Star began sending 579 megawatts of electri­city — making it the most powerful solar farm in the world — across Southern California, where it powers the equivalent of more than a quarter of a million homes.

For over a century, Kern County made much of its money from gushing oil fields. The town of Taft still crowns an oil queen for its anniversary parade. But with the oil economy down, unemployment stands at 9.2 percent — far above the national average. Local politics remain deeply conservative. Merle Haggard, who was from Oildale, wrote his all-time biggest hit, “Okie From Muskogee,” about the place (“We don’t burn no draft cards down on Main Street”). Today, the region is represented in Congress by Republican Majority Leader Kevin McCarthy, a cheerleader for the oil industry.

Advertisement – Article continues below

Nature, however, sculpted this landscape for solar and wind. The sun bears down almost every day, and as the valley floor heats up, it pulls air across the Tehachapi Mountains, driving the blades on towering wind turbines. For nearly eight years, money for renewable energy has been pouring in. About seven miles north of Solar Star, where sand-colored hills rise out of the desert, Spanish energy giant Iberdrola has built 126 wind turbines. French power company EDF has 330 turbines nestled in the same hills. Farther north, the Alta Wind Energy Center has an estimated 600 turbines. Together, these and other companies have spent more than $28 billion on land, equipment, and the thousands of workers needed to construct renewable-energy plants in Kern County. This new economy has created more than 1,300 permanent jobs in the region. It has also created a bonanza of more than $50 million in additional property taxes a year — about 11 percent of Kern County’s total tax haul. Lorelei Oviatt, the director of planning and community development, says, “This is money we never expected.”

But the sun and wind were not the most important forces in the transformation of the region’s economy. The biggest factor was the state government in Sacramento, where for many decades power players — Republicans and Democrats — have been marching toward a carbon-neutral existence.

Today, California can claim first place in just about every renewable-energy category: It is home to the nation’s largest wind farm and the world’s largest solar thermal plant. It has the largest operating photovoltaic solar installation on Earth and more rooftop solar than any other state. (It helps to have a lot of roofs.) This new industry has been an economic boon as well. Solar companies now employ an estimated 64,000 people in the state, surpassing the number of people working for all the major utilities. California has attracted more venture capital investment for clean-energy technologies than the European Union and China combined. Even the state’s manufacturing base is experiencing a boost; one of California’s largest factories is Tesla Motors’ sprawling electric-vehicle assembly plant in the Bay Area.

All of these advances have undercut a fundamental tenet of economics: that more growth equals more emissions. Between 2003 and 2013 (the most recent data), the Golden State decreased its greenhouse gas emissions by 5.5 percent while increasing its gross domestic product by 17 percent — and it did so under the thumb of the nation’s most stringent energy regulations.

That achievement has made California the envy of other governments. At the climate change summit in Paris last December, Gov. Jerry Brown floated about like an A-list celebrity. Reporters trailed after him, foreign delegations sought his advice, audiences applauded wherever he spoke. And Brown, reveling in the attention, readily offered up California as a blueprint for the world.

When his term ends in two years, Brown will have been in elective office in California for 34 years, including 16 as governor, a job he first took on in 1975 and reclaimed in 2011. At 77, Brown, whose long résumé includes a stint at seminary, is the rare American politician who muses openly about whether humanity has already “gone over the edge,” calls climate change deniers “troglodytes,” and blames global warming for every natural calamity that befalls California, from drought to wildfires, even when he’s criticized for taking the connection too far.

In what is likely to be the last chapter of his elective career, Brown is now embarking on a bold social experiment that will define his legacy. This past October, he reset California’s goalposts by adopting some of the most ambitious carbon-reducing rules in the world. SB 350, the Clean Energy and Pollution Reduction Act, says that by 2030, California must get half its electricity from renewables and it must double the energy efficiency of its buildings. These measures are intended to push the state to its ultimate goal: by 2050, cutting greenhouse gas emissions to 80 percent below the level it produced in 1990 (the baseline much of the world — but not the United States — agreed to pursue in the 1997 Kyoto climate treaty). It is this last measure that makes California’s global warming mission far more sweeping than any nation’s, because while countries with ambitious targets like Germany and Japan have shrinking populations, California will be home to 50 million people in 2050, two-thirds more than in 1990.

During his inaugural address last year, Brown detoured from the usual platitudes to launch into a lecture on his environmental policies, from new vehicle and fuel standards to plans for better managing rangelands and forests. “California, as it does in many areas, must show the way,” he told his audience. “We must demonstrate that reducing carbon is compatible with an abundant economy and human well-being. So far, we have been able to do that.”

But the state’s current achievements look easy compared with the new mandates. That’s because a lot of low-hanging fruit has already been picked: The best wind power sites are already chock-full of turbines, and complex land use rules make it difficult to find more locations for massive solar installations. What’s more, scientists and businesspeople will have to come up with new technologies, such as batteries that can hold enough power for a house at a price most homeowners can afford. And there is no clear understanding of how much it will cost: Californians may pay higher electricity and fuel prices; carbon-emitting industries may have to pay more for production. Even then, the gains are fragile and can be undermined by changes in consumption patterns, the economy or, as took place this past winter in Los Angeles, industrial accidents. There, a methane leak from a gas facility which went unplugged for months doubled the annual emissions for the Los Angeles basin.

Robert Stavins is a professor of environmental economics at Harvard’s John F. Kennedy School and has written extensively on California’s approach to climate change. The state’s new targets are “very aggressive, very ambitious,” he says. “The more you try to do, the more your marginal costs go up. It doesn’t come for free.”

Advertisement – Article continues below

To his credit, Brown doesn’t make it out to be easy. Speaking during the climate talks at the Petit Palais, an ornate museum built for the 1900 World Fair, he was particularly blunt about what his plan requires. “You need the coercive power of government,” he told the crowd. One of the reasons why California’s utilities already get so much of their power from renewables, he said, was because “they have no choice. The government said, ‘Do it, or you’re going to pay huge fines.’” Brown likes to upend the standard argument about government regulation gumming up innovation. To him, it’s the opposite: Regulations push businesses to try new things.

Few American politicians would have the pluck to declare this publicly. Yet Brown has a lot of advantages: He is free from the burden of reelection and for a long time had a supermajority in the Legislature, allowing him to shove through regulations that would have been dead in the water in any other state.

Brown also has the support of Mary Nichols, who sits at the helm of California’s Air Resources Board. No other agency has quite the same breadth of authority to craft policy — or the same extensive toolbox to enforce it — and that gives her sway over entire industries. In 2013, Time named Nichols one of the world’s 100 most influential people. In her many years at the Air Resources Board, she’s wielded her power to help usher in everything from three-way catalytic converters and smog tests to cleaner fuels and electric cars.

When I meet Nichols at a café in Los Angeles, she exhibits none of the swagger you often find in a powerful official. With close-cropped gray hair and wearing a turtleneck sweater, she orders a cup of tea and speaks so softly that I struggle to hear her over clinking dishes. Despite her unimposing presence, Nichols is supremely confident about the righteousness of her and Brown’s mission. “We made these argu­ments for a long time, but we weren’t too effective because there weren’t many economists on our side. Traditional economic models view all forms of regulation as costs without benefits.” She adds, “I think we’ve demonstrated that you can grow your economy and seriously slash global warming.” I ask if she looks to any other state or country as a model. “No, unfortunately, no,” she says. “We’re it.”

The Ocotillo Wind Farm is in Imperial Valley, near the Mexico border.Jamey Stillings

To understand how California came to stand alone, you have to look back more than a half century. Back then, long before “climate change” was a household term, California was choking on smog. A biochemist at Caltech, Arie Jan Haagen-Smit, had discovered that the problem stemmed from a reaction between vehicle exhaust and sunlight. Oil and car companies fought Haagen-Smit’s findings bitterly, but the smog problem became so dire that in 1967 Gov. Ronald Reagan signed the bill that created the Air Resources Board, and he appointed Haagen-Smit to head it. The same year, Congress passed the federal Air Quality Act, which gave California the power to set its own automobile emissions standards that could exceed those of the federal government.

But when the Clean Air Act in 1970 required every state to meet pollution standards within five years, California didn’t get a plan in place to do so. In 1972, Nichols, then a young environmental lawyer, sued the new Environmental Protection Agency to force it to hold California accountable. After Jerry Brown took office in 1975, he appointed Nichols to the Air Resources Board and made her its chief four years later.

As Nichols began fighting air pollution, Middle Eastern nations, angered at U.S. involvement in the Yom Kippur War, slapped an embargo on exports of oil and sent prices skyrocketing. Americans waited in long lines to fill their gas tanks, and shock waves rippled through the economy. Meanwhile, California’s population was burgeoning. In one study from the mid-’70s, the RAND Corporation estimated that the state would have to add at least 10 new nuclear reactors over the next 25 years to keep pace with the growing demand for energy.

Mother Jones

A physicist named Arthur Rosenfeld at the Lawrence Berkeley National Laboratory became curious about how much energy people really consumed. To some of his colleagues, this seemed like a pedestrian topic for someone who’d studied under Enrico Fermi and distinguished himself in the field of particle physics. But Rosenfeld soon made a series of calculations that quieted them, recalls Ashok Gadgil, who was then a young graduate student of Rosenfeld’s and is now a senior scientist at the lab. Thanks to lax building codes, California used about as much energy to heat homes as Minnesota did, despite a 28-degree difference in average low temperatures, Gadgil says. Rosenfeld was the first to do the math showing how much you could slow electricity usage by setting in place energy standards for buildings and appliances. “It was a revelation,” says Gadgil.

Part of the problem was that the utilities — Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric — made more money if they sold people more electricity. PG&E “had people standing on street corners giving out 200-watt lightbulbs,” says Gadgil. Californians would take them home thinking they had just scored a freebie, screw them in, and double or triple the amount of power those lights were consuming.

Advertisement – Article continues below

To address the energy crisis, Reagan established the California Energy Commission in 1974. Soon after, Rosenfeld began to push the agency to create tighter building standards, and then to raise them every few years. He took on everything from the glazing of windows to the type of insulation used between the rafters. This enraged the utilities, which feared dwindling revenue. At one point a executive called the head of the lab to demand that Rosenfeld be fired.

But when Jerry Brown succeeded Reagan, he was captivated by Rosenfeld’s findings. So Rosenfeld, who would later sit on the Energy Commission, helped expand its purview to require that dishwashers, refrigerators, dryers, heaters, spa equipment — nearly everything in a Californian’s life — meet the toughest efficiency standards in the country. In 1999, Rosenfeld estimated that the changes the commission had set forth were saving $10 billion a year nationwide.

The agency has now said that by 2020, all new houses shall meet an exacting code called zero net energy — this means having features like thick insulation, tightly sealed windows and doors, and the capa­city to generate all the power they need in a year via the sun or even wind. By 2030, all new commercial buildings will need to do the same.

These energy-saving requirements are just one indicator of how regulators have been able to leverage California’s huge market — 38 million customers — to influence national supply and manufacturing lines. Three years ago, the Energy Commission required that battery-charging systems, like the ones inside smartphones and laptops, be designed to suck less juice. Manufacturers balked because they didn’t want to bear the additional costs — about 50 cents per laptop. But the state insisted. The extra 50 cents, it turns out, saves the purchaser 18 times that cost in energy over the life of the product. That one change alone is estimated to save Californians $300 million a year in electricity bills. The Energy Commission figures that all its efficiency measures have slashed electric bills in California by $74 billion over the past 40 years.

As scientists saw increasing evidence of a warming planet, the focus on cutting smog and increasing efficiency shifted to curbing greenhouse gases. In 2002, Gov. Gray Davis signed the state’s first “renewables portfolio standard,” requiring utilities to get 20 percent of their power from renewable sources within 15 years. The standard sparked the development of a first generation of large solar installations, or “grid-scale” solar, the kind that now dot Kern County. But the rooftop solar business had stalled. “The market was backwoods hippies and Malibu millionaires,” recalls Bernadette Del Chiaro, now the executive director of the California Solar Energy Industries Association. In 2000, fewer than 400 California roofs were outfitted with solar panels.

“We had this chicken-and-egg problem,” says Del Chiaro. “Prices were high because demand was low. Demand was low because prices were high.” Arnold Schwarzenegger, during his bid to oust Davis via a recall, promised to jump-start the use of solar power. Schwarzenegger made it to office, but he couldn’t get his advisers to agree on a solar policy. To keep up the pressure, solar advocates crafted life-size cardboard cutouts of the governor from his Terminator movies and set them up across the state, so voters could pose for pictures next to them while holding signs that read, “Go Solar.”

Still, nothing budged. Schwarzenegger grew frustrated. At one point he convened his staff in the Ronald Reagan conference room, where he kept his Conan the Bar­barian sword. When his advisers again began to bicker over details, Schwarzenegger’s face turned red and veins bulged from his neck. He pounded his fist on the long wood table and bellowed, “Don’t you understand? I want to get this fucking thing done.”

That thing turned out to be a carrot in the form of a $3.3 billion rebate program, which, as boring as that sounds, was monumental. At first, anyone who got rooftop solar received a handsome rebate — as much as $2.50 per watt. Combined with a federal tax credit, the rebate cut the cost of a typical home system in half. But the program was designed so that as more solar panels were installed across the state, the rebate money would be a little less generous.

This wasn’t meant to penalize future homeowners, but to incentivize industry. Jigar Shah was the founder of SunEdison, one of the early solar-installation companies. The rebate program, he explains, was really a social compact between the government and the industry. “It was, ‘We gave you money, now you go create jobs and bring down costs,’” he says. Solar installers began popping up all over the state, hiring more workers. The time it took to install a solar system went from four days to two, and sometimes just a few hours. And prices fell. Churches, schools, and even prisons started to go solar. Factories in China began ramping up their production of panels, creating an economy of scale — panel prices have dropped about 45 percent over the past decade. By the time the subsidies dried up, costs had fallen so much that it didn’t matter. “We turned solar into a real business. This was man-on-the-moon stuff,” says Shah.

The way California priced electricity helped too. Remember how used to hand out free high-wattage lightbulbs to get people to use more power? Now utilities are required to use a tiered electricity-pricing system. The more power you consume, the higher your rate. This can mean that for people who live in the desert and need to run an air conditioner half the year, affordable solar can be a godsend. Bakersfield, where summertime temperatures often climb past 100 degrees, has twice as many solar rooftops as San Francisco, despite being less than half the size.

But what the $3 billion really did was give the state a new industry — and a lot of new jobs.

Shutterstock

In 2006, the release of the documentary An Inconvenient Truth planted the issue of global warming firmly in the California consciousness. With that momentum, the head of the Assembly, Fabian Nuñez, was able to pass the sweeping Global Warming Solutions Act that mandated the state shrink its greenhouse gas emissions to 1990 levels by 2020. Republican New York Gov. George Pataki flew in to attend the ceremony (the term “climate change” wasn’t yet anathema in Republican politics) and Britain’s prime minister, Tony Blair, was patched in via a video link. Schwarzenegger boasted, “We will begin a bold new era of environmental protection here in California that will change the course of history.”

The act handed the Air Resources Board an arsenal of new powers, and Schwarzenegger wanted an ace to run the organization. Mary Nichols had been out of that job for 24 years, and she was a Democrat, but Schwarzenegger was adamant: “Mary was quite simply the best person for the job,” he told Bloomberg Business.

Her agency was charged with drawing the map for how the state would decarbonize its economy. It hired new staff to create an inventory of where all the emissions in the state were coming from. It wrote rules for everything from hair spray to methane escaping from landfills. It levied fines for businesses that didn’t comply and established new regulations for those that did. And most importantly, it set up a cap-and-trade carbon market, through which California’s major industrial players all buy or sell carbon credits — generating $3.5 billion in revenue for the state so far. In January last year, cap and trade expanded to include emissions from automobiles, which means companies that refine and sell gasoline must account for those emissions as well, making the system the most comprehensive of its kind in the world.

No business has felt the force of Nichols’ power as much as the automobile industry. The board has steadily ratcheted up fuel efficiency standards, surpassing federal standards, for cars and trucks. Around 2007, Nichols began to tell automakers that gasoline efficiency wasn’t enough — they would have to roll out new, fully electric models or other zero-emission vehicles. Manufacturers from Japan to Detroit rushed to build the cars Nichols demanded. And she upped the ante again: By 2025, fully 16 percent of all new vehicles sold in the state would have to be zero-emission. Not long ago, though, the board noticed that gas-powered cars coming off the assembly lines are pretty durable, which means they could be on the road longer. That, of course, would make it tougher for California to meet its emissions targets, so Nichols has made noise about hitting an even more ambitious mark: In 15 years, she wants new car buyers to only be able to shop for zero-emission vehicles.

That seems ambitious, crazy even. After all, the first time California tried to put electric cars on the roads, in the ’90s, manufacturers balked at the high cost of the technology, and the Air Resources Board had to back off its goals. But this time around, the technology has improved, and Nichols isn’t backing down. Today, every major manufacturer builds an electric car. Some, like Nissan, which builds the Leaf, hail them as a cornerstone of their brand. “You could say Mary largely created the market for zero-emission vehicles,” says professor Daniel Sperling, director of the University of California-Davis’ Institute of Transportation Studies and a member of the Air Resources Board.

In 2009, Matthew E. Kahn, who teaches environmental economics at the University of Southern California, was one of several economists who claimed California’s cap-and-trade program could cause energy-intensive industries to flee. Those that couldn’t bolt, such as food processors tied to local farms, would be forced to raise prices on citrus, nuts, or tomatoes, he predicted. Today, Kahn admits the costs for businesses were lower than he ever imagined. He now believes the impact on jobs was minimal, in part because heavy polluters, like steelmakers, had already left the state. But he also credits Nichols with having crafted the carbon market so it achieved the state’s goals with minimal costs. “The optimists have won the day,” he says.

Along with big rebate programs, the “coercive power of government” helped push cash into the development of new energy sources, so the utilities found themselves ahead of the deadline to get 20 percent of their power from renewables. But that created a problem. One very sunny Sunday in April 2014, officials had to cut off more than 1,100 megawatts’ worth of solar and wind power — almost enough to supply all the houses in the city of Fresno — for about 90 minutes because the grid was overflowing with electricity. Naysayers worried the state had reached its absorption limits for renewables and that the grid could fry. As a fix, the state expanded the utilities’ ability to trade power with neighboring states on what is called the energy imbalance market. When California generates too much solar power, the utilities can now sell it at 15-minute or even five-minute increments to Washington or Oregon right away (or buy power when the supply has an unexpected dip).

A number of tech companies, however, started looking at better matching supply to demand. First they turned to “demand response” systems, whereby major energy customers can ratchet down their use as needed. Johnson Controls Inc., a Fortune 500 maker of thermostats, batteries, and other products, runs a demand response program in California with more than 100 customers. When a utility realizes it won’t have enough power — when air conditioners are cranking — it sends a signal to Johnson Controls, which figures out which customers can scale back. That may mean cutting the power to a field of oil wells, or getting the city of Fullerton to dial back on its lighting at city hall. Companies love it because they get paid by the utility when they turn the power off. “I literally send customers checks,” says Johnson Control’s Terrill Laughton. Architects are now designing office buildings with built-in controls that can automatically turn off a bank of elevators or a cooling system when a utility calls.

“We can really transform the grid for the 21st century,” says Raghu Belur, the cofounder of Enphase, based in Petaluma, north of San Francisco. His company is connecting solar panels, software, and a powerful in-home battery to create, he says, “an energy management system.” If the panels produce power the home doesn’t need, the software detects whether it’s better to sell the excess to the grid or store it for use later. “It turbocharges the solar system,” explains Belur. His company will soon sell the system in Australia. But the hurdle is the price of the battery, which is still too expensive to make it practical for most homeowners.

Peter Rive, a cofounder of SolarCity, one of the nation’s largest installers of solar panels, insists battery prices are about to tumble — and transform California’s energy market. Rive’s certainty stems in part from the massive investment that Elon Musk (who happens to be Rive’s cousin and SolarCity’s chair) is making in batteries for cars and homes. Right now Musk’s company Tesla advertises one battery, the Powerwall, that’s big enough to handle the energy needs of a standard home during the evening. But it can still cost more than $4,000, including installation. Tesla claims it can fix that problem via economies of scale when it completes a battery-making “gigafactory” in Nevada.

Rive believes that in a few years home batteries will be commonplace and electricity will be part of the sharing economy, like Uber and Airbnb. When a utility needs extra electricity, it will be able to call on the battery in your home to power your neighbor’s washing machine, and it will pay you for the power you’re providing. According to Rive, this setup “looks somewhat imminent.” He gives it three years. It’s a neat and tidy solution, and full of the usual hubris of Silicon Valley. It is also the kind of innovation Brown is banking on to achieve his goals.

Almost every week a foreign delegation passes through Sacramento to meet California’s energy leaders. Recently, officials from China, India, South Africa, Mexico, and even Germany have all visited. Tatiana Molina was part of a delegation of Chilean officials and businesspeople who came last October. They met with utilities, toured the Tesla headquarters, and listened to presentations from government administrators. She was impressed. Then again, she was also skeptical. “You cannot take a California model and paste it in Chile,” she said.

Others warn that California will have trouble keeping up the pace without inflicting damage on its economy. “What [California] can certainly not do,” says Stavins, the Harvard economist, “is ramp up its policies at no cost. To think that it can, that’s just naive.” Gino DiCaro of the California Manufacturers and Technology Association says, “Everyone knows it’s going to be more costly to operate in California — that’s just a given. But the costs are mounting and no one knows where they will end.”

It is also sobering that the world’s other great experiment in greenhouse gas reduction, Germany, has stumbled recently. In the early 2000s, Germany began a massive effort called Energiewende, or “energy transition.” The country guaranteed that anyone who installed solar or wind panels could sell the power at a high fixed rate, and investors piled in. But the rate was so generous that Germany had to pass the costs onto its consumers, raising bills by about $220 a year per household. When the country also began to shutter its nuclear plants, utilities turned to the cheapest source of new power available: carbon-heavy lignite coal. Germany is now burning more coal than it did five years ago, and during 2012 and 2013 its greenhouse gas emissions actually increased. (They are now falling again.)

To make matters worse, Europe’s cap-and-trade system, responsible for limiting emissions across the continent, has been beset by fraud, as phony carbon credits from Russia and Ukraine have flooded the market. That has helped drive down the cost of carbon. For much of the last year it hovered around 7 euros, or about 35 percent cheaper than the price of carbon in California, almost wiping out incentives not to pollute.

Brown also has strong forces arrayed against him. The utilities have started to flex their muscles, pushing back against the rates they pay solar customers for the power they send to the grid. And last year, the oil industry lobby led an unprecedented $11 million campaign against measures including a component of SB 350, the landmark law that requires California to get half its electricity from renewables in the next 15 years. The lobby singled out the Air Resources Board and its “unelected bureaucrats,” warning that the bill’s provisions for cutting petroleum use in half by 2030 would lead to sky-high gas prices. The bill passed, but the oil companies got the petroleum mandate stripped out at the last minute by aiming hard at legislators from the Central Valley.

Brown admitted partial defeat during a press conference at the state Capitol: “Oil has won the skirmish. But they’ve lost the bigger battle because I am more determined than ever.” He made that quite clear when he stated that the Air Resources Board has all the power that it needs to cut petroleum use, and “it will continue to exercise that power, certainly as long as I’m governor.” He added, “Through the regulations on low-carbon fuel, we’ll take another step, and we’ll continue to take steps.”

“Who opposes any of our work on climate? There is no question that everywhere you turn it all goes back to the oil industry,” says Nichols.

The oil industry does loom large over her biggest task ahead. The transportation sector accounts for 37 percent of California’s greenhouse gas emissions. Just overhauling the freight rail system, she says, “will require massive new investment, and no one really knows where it is going to come from.” Despite a $2,500 rebate that has been dangling out there for six years, only about 175,000 cars in the state are electric — which means that to reach her ultimate goal, Nichols has to get close to 1.5 million zero-emission cars on the road in the next decade. She concedes that the carrots she’s had in place for some time, such as allowing electric vehicles to cruise carpool lanes, won’t be as effective going forward because those “lanes are not infinitely stuffable.” Like Brown, though, she continues to opti­mistically push ahead: “The only clash is over how much of an incentive it’s going to take to get these [electric vehicles] into consumers’ hands.”

At the Paris climate summit, Brown and Schwarzenegger jaunted around together, available for photo ops. It was as if to say: Here are a Democrat and a Republican (with a face recognizable around the world), hand in hand, dedicated to the cause. Even Kern County’s Rep. Kevin McCarthy — a tireless advocate for the oil business — has become a booster for the solar industry.

But here’s a key bit of context for all of the state’s efforts. Even if the state succeeds in slashing carbon levels, it would still only result in a blip in combating climate change. California is the world’s eighth-largest economy but accounts for only about 1 percent of global emissions. That, says Nichols, is exactly the point: to set an example. “We never thought that what we did in California was actually going to solve the problem of global warming,” she says. “But we thought we could demonstrate that you could.”

Share

Please

enable JavaScript

to view the comments.

Find this article interesting?

Donate now to support our work.

Get Grist in your inbox

Excerpt from: 

How California got way ahead of the rest of the world in fighting climate change

Posted in alo, Anchor, ATTRA, Brita, Crown, Everyone, FF, food processor, GE, LAI, Landmark, LG, Nissan, ONA, Oster, PUR, Radius, solar, solar panels, solar power, Thermos, Ultima, Uncategorized, wind energy, wind power | Tagged , , , , , , , , , | Comments Off on How California got way ahead of the rest of the world in fighting climate change

A Second Look at BernieCare

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

Last night I wrote that Bernie Sanders’ universal health care plan was “pretty good.” Over at Vox, Ezra Klein says it’s vague and unrealistic. Who’s right?

Both of us, I’d say. The Sanders plan is mostly a sketch of how he’d fund universal health care, and at that level I’d say it was pretty good if you evaluate it as a campaign document rather than a Brookings white paper. His numbers mostly added up, and from my point of view, his funding sources were roughly appropriate. Half or more of the funding comes from the middle class, with the rest coming from the rich. I’m OK with that.

But how about the actual mechanics of providing health care? Klein is pretty scathing about Sanders’ promise that his plan will cover everything with no copays or deductibles:

The implication to most people, I think, is that claim denials will be a thing of the past….What makes that so irresponsible is that it stands in flagrant contradiction to the way single-payer plans actually work….The real way single-payer systems save money isn’t through cutting administrative costs. It’s through cutting reimbursements to doctors, hospitals, drug companies, and device companies.

….But to get those savings, the government needs to be willing to say no when doctors, hospitals, drug companies, and device companies refuse to meet their prices, and that means the government needs to be willing to say no to people who want those treatments. If the government can’t do that — if Sanders is going to stick to the spirit of “no more fighting with insurance companies when they fail to pay for charges” — then it won’t be able to control costs.

The issue of how often the government says no leads to all sorts of other key questions — questions Sanders is silent on. For instance, who decides when the government says no? Will there be a cost-effectiveness council, like Britain’s National Institute for Health and Care Excellence? Or will the government basically have to cover every treatment that can be proven beneficial, as is true for Medicare now? What will the appeals process be like?

This might sound technical, but it’s absolutely critical.

Klein is right that the mechanics of the plan are critical, and I probably should have done more than shrug that off as something that we’d get to later. Still, I think his criticism goes way too far. This is a campaign document. It’s obviously aspirational, and asking a presidential candidate to go into deep detail about the drawbacks of his policy is a little much. I can’t recall ever seeing that in my life. In a campaign, you sell the high points and then let critics take their shots.

That’s not to say that Sanders couldn’t have done more than he did. He could have and probably should have. In particular, he should have provided at least an outline of how his plan would work: who it covers, who employs doctors, what drives the cost savings, and so forth.

But my take is that Sanders was trying to accomplish something specific: he wanted to show that universal health care was affordable, and he wanted to stake out a position that Democrats should at least be dedicated to the idea of universal health care. I’d say he accomplished that in credible style. It’s fine to hold Sanders to a high standard, but it’s unfair to hold him to an Olympian standard that no presidential candidate in history has ever met. We health care wonks may be disappointed not to have more to chew on, but that’s life. We’ll get it eventually.

More:

A Second Look at BernieCare

Posted in Brita, FF, GE, LAI, LG, ONA, oven, Uncategorized, Venta | Tagged , , , , , , , , , | Comments Off on A Second Look at BernieCare

Take a hint, “clean coal.” The world is so over you

Take a hint, “clean coal.” The world is so over you

By on 4 Dec 2015 4:05 pmcommentsShare

Like that old classmate still hanging around your hometown pub, playing pool, and talking about the great business idea that he had back in high school, clean coal is about to sidle up to the world’s barstool and — in a slightly slurred and defeated voice — tell you that, despite a few setbacks, it could still work.

You’ll smile and nod and pretend to be interested, but in truth, a lot’s happened since your days of joyriding around the suburbs and late-night Kmart runs. It’s 2015, and an old Volkswagen bus-turned-mobile Blockbuster just doesn’t seem like a lucrative idea anymore. Likewise, the promise of guilt-free fossil fuels in a time of dropping renewable energy prices and mounting clean coal disappointments seems a bit passe.

For a quick refresher, the basic idea behind clean coal is this: Instead of pumping CO2 directly into the atmosphere, coal plants equipped with carbon capture technology would just grab that CO2 on its way out of the plant and shove it back into the ground from whence it came. Simple, right? Well, not really. Here’s more from the AP:

In 2013, Norway pulled the plug on a major carbon capture project it had likened to the moon landing, citing spiraling costs. Another big setback came on Nov. 25, just days ahead of the U.N. climate talks in Paris, when Britain abruptly canceled 1 billion pounds ($1.5 billion) in funding for carbon capture technology, raising doubts about the fate of two projects competing for the money.

There’s currently only one clean coal plant up and running — the Boundary Dam power station in Saskatchewan, Canada — that was designed to capture about 1 million tons of CO2 annually, but managed less than half that during its first year, the AP reports.

Not to be left out, the U.S. has been working on its own clean coal plant down in Mississippi for almost a decade. Check out this Grist Special Report from former Grist fellow Sara Bernard for an in-depth look at that whole mess. The project has been mired in construction delays and unexpected costs since it was first proposed in 2006. Its initial price tag of $1.8 billion has risen to about $6.5 billion, and its construction, which began in 2010 and was supposed to be done by now, still trudges on.

According to the International Energy Agency and the U.N. Intergovernmental Panel on Climate Change, carbon capture technology on its own — as in, not necessarily attached to a power plant — might be a necessary tool in avoiding a 2-degree Celsius temperature rise. Fortunately, the independent technology has had somewhat more success than its clean coal application, although not by much. Here’s more from the AP:

There are 13 large-scale carbon capture projects in the world, collecting 26 million tons of carbon dioxide a year, according to the International Energy Agency. But that’s less than one one-thousandth of the world’s carbon dioxide emissions.

“There’s activity out there, but it’s not what various organizations would have hoped for,” said Juho Lipponen, who heads the IEA’s carbon capture unit.

In Paris, only eight of the 170 action plans submitted by individual nations point to carbon capture technology as a necessary mitigation tool, the AP reports:

Bill Hare, who heads the Climate Analytics institute in Berlin, said carbon capture may have missed its moment when investments didn’t take off despite a lot of “hype” a decade ago. Now, he said, the falling costs of renewable energy mean carbon capture has a lot of catching up to do.

“It’s probably harder to get this moving now than 10 years ago,” Hare said.

Likewise, Netflix and that VW emissions scandal will probably make your old buddy’s Blockbuster bus a harder sell today than it was 10 years ago. Although, let’s be real, it was a pretty killer idea back then.

Source:

‘Clean coal’ technology fails to capture world’s attention

, The Associated Press.

Share

Please

enable JavaScript

to view the comments.


A Grist Special Series The Paris climate talks: Yes oui can!

Get Grist in your inbox

Advertisement

View post: 

Take a hint, “clean coal.” The world is so over you

Posted in Anchor, Brita, FF, GE, ONA, Radius, Safer, Uncategorized | Tagged , , , , , , , , , , , | Comments Off on Take a hint, “clean coal.” The world is so over you

We Finally Got Around to Ryan Adams’ "1989." Here Are Our Instant Reactions to Every Track.

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

Editor’s note: Earlier this week, I suggested to our own Ben Dreyfuss that he take a stab at reviewing Ryan Adams’ new adaptation of Taylor Swift’s hit album 1989. Given the chat that Ben and colleague James West published when Swift’s version dropped last October, I figured it was a no-brainer. (I also didn’t necessarily think that I’d be the only one around when it came time to edit it.) Anyway, Ben agreed, and he enlisted Tim McDonnell to tag-team the review, by which I mean chat semi-coherently for what must have been hours.

TRACK 1: “WELCOME TO NEW YORK

Ben Dreyfuss: Here we go.

Tim McDonnell: Seagulls. We’re on an island.

BD: Welcome to New York.

TM: How can you not like this?

BD: It sounds like a theme song to an ’80s sitcom?

TM: I would watch that sitcom. Every episode.

BD: This really does sort of sound like he is stylizing, like, what’s his name from New Jersey? The Boss? Springsteen!

TM: Descending into the Port Authority from New Jersey to fulfill all your dreams.

BD: I bet he was like “Jersey? That’s basically New York. Let’s go with Springsteen.” Chris Christie would love this cover.

TM: Fist-pumping. Watch for this song at future Christie events. So…better than Tay?

BD: No. I mean, look…no.

TM: Or are we just going with the baseline that none of it is better than Tay?

TRACK 2: “BLANK SPACE”

BD: I hate this.

TM: This is definitely the mopey part.

BD: He is such a whiny bitch. I mean, he is SUCH a little crybaby.

TM: I kind of love it. It’s like he’s sitting in your living room playing right to you.

BD: He is the paradigm of a sad little white hipster guitarist.

TM: Okay, but this is actually a pretty sad song. You wouldn’t really know that from the Tay version. There’s so much implied loneliness.

BD: I feel like we’re on a roof after a cast party, and he is trying to find the courage to tell the girl who played opposite him in Skin of Our Teeth that not only is he not gay…he’s actually in love with her.

TM: Tinged with optimism and hope. Also, the reference to old lovers thinking you’re insane.

BD: “If the high was worth the pain.” Babe, it’s always worth the pain.

TM: They’ll tell you I’m insane. BUT I’M NOT OR MAYBE…

BD: “I’M NOT FUCKING INSANE, OKAY? PLEASE BELIEVE ME!”

TM: “I don’t know! Maybe I am! Let’s make out.”

BD: Then you play this sad song in the bathroom and call the therapist in the morning.

TRACK 3: “STYLE”

BD: Yeah, this is different. This is less whiny.

TM: This is very like tech rock—like, I don’t know. Flaming Lips or something.

BD: I like the bass line.

TM: This is what you hear coming from the second-best stage at the music festival, while you’re trying to watch the Red Hot Chili Peppers.

BD: The band that is better than most of them, but still only forgettable.

TM: Not quite good enough for the main stage, but good enough to forget yourself and just dance.

BD: His voice is so weak and sad. I bet Ryan Adams was the dude in college who wrote his feelings into lyrics in a Moleskin.

TRACK 4: “OUT OF THE WOODS”

TM: Okay, now we’re like at the bluegrass festival. Playing at the bandshell in the town square with your mom.

BD: Just an acoustic, a mic, and a few hundred friends in a park in Tennessee. The Town Square Open Mic! And your mom is way too enthusiastic. She’s embarrassing you.

TM: That’s like Ryan Adams’ birthplace probably. He was probably conceived at an open mic.

BD: Can we talk about his voice? It’s so whiny.

TM: It would be better without all the reverb.

BD: Why is it so weak and sad? Maybe he should smoke.

TM: All the indie bands are like obsessed with vocal reverb these days.

BD: I mean, he shouldn’t smoke. Don’t smoke, kids.

TM: No, but he should.

BD: It would make his voice gruffer and sexier.

TM: Smoke more and cut the reverb. Okay, what about the whole concept of this album? What do we think about rewriting whole albums?

BD: The Larger Story. At first I was turned off by the idea.

TM: Especially for an album that just came out.

BD: One song is one thing, but doing a whole album feels like a purposeless re-creation, but I think I was maybe being too conservative. Like, I can see someone doing interesting things with it. Like imagine Fiona Apple redoing a Chili Peppers album. I mean, that sounds terrible.

TM: Is there a threshold of how much different it has to be to make it worthwhile?

BD: There must be a threshold, or else it’s just masturbatory photocopying.

TM: I like how we just completely tuned out the rest of that song. It was putting me to sleep anyway.

BD: Yeah, I hated it. It went on forever.

TRACK 5: “ALL YOU HAD TO DO WAS STAY”

BD: WHO IS THE FAMOUS SINGER HE SOUNDS LIKE? Is it Springsteen?

TM: Kind of. The Springsteen purists would probably not appreciate that comparison. There are other comparisons that are probably better.

BD: Sorry, Springsteen fans. This sounds like it would be perfect at Giants Stadium. Chris Christie is losing himself in a press box. Should we talk about the pronoun changes? Some people had a little cry about it.

TM: Like when boys sing songs that were originally sung by girls.

BD: Their problem was that he changed the pronouns to “she” instead of “he” or whatever. I think it’s a silly criticism. Like it would be really noticeable if he didn’t change them, and that would in and of itself be a statement, which is maybe good or maybe bad. But clearly one he didn’t want to make and that is his right—the right to abstain.

TRACK 6: “SHAKE IT OFF”

BD: Tay’s version is perfect. Perfect pop song.

TM: Carved from a solid block of pop music viral marble.

BD: Birthed from the head of Zeus, the content creator.

TM: This version is more hedged. He doesn’t actually sound like he’s going to shake it off.

BD: He needs to shake it off. But he sounds like actually he is going to die. He is drinking too much and being angry.

TM: He’s repeating the mantra his therapist fed him. “Shake it off.” But he totally doesn’t buy it.

BD: He is going to get in a fistfight outside a bar, get his ass kicked, get in his truck, drive drunk, and kill a bunch of people. SERENITY NOW!

TM: Shake THAT off. Maybe this is what he’s singing immediately after doing that. That’s what it sounds like.

BD: “Sorry, Mr. Adams, you can’t shake off 5-0.”

TM: “Haters gonna hate.”

BD: “I am not a hater. I am a judge. You killed five people.”

TM: Yeah, he is totally unconvinced of his ability to shake it off.

TRACK 7: “I WISH YOU WOULD”

BD: Oh, another acoustic guitar.

TM: The thing with all of these is that he doesn’t really sound like he’s buying the message.

BD: Yeah, that’s a good point.

TM: Tay works because you believe her. She makes you believe her. She is in that car. She is driving straight ahead. That’s why the songs work.

BD: He’s covering her songs in the sense that he’s singing the lyrics, but he’s not playing the part.

TM: You take the same lyrics and put them in Ryan’s mouth and they don’t really add up. I don’t know what he’s standing for.

BD: My main problem with this album is that like it isn’t fun. It sounds like something you would listen to while being overly dramatic about a breakup.

TM: While riding on a train in Europe with like rain streaking down the windows.

BD: YES. He is looking out of the Eurorail, watching Prague go by in an instant, thinking of…

TM: And drinking a whole bottle of wine by himself.

BD: …some girl.

TRACK 8: “BAD BLOOD”

BD: Taylor was writing about Katy Perry. Who do we think Ryan is thinking of while singing this?

TM: Taylor.

BD: AHHAHAHHAHA. I love that.

TM: Wasn’t he married to someone?

BD: Is he the Ryan Adams who created Glee?

TM: Mandy Moore.

BD: She got left behind the aughts with Gossip Girl and James Frey.

TM: “Mandy Moore confirms Ryan Adams split.”

BD: Divorce isn’t very fun.

TM: This album isn’t very fun! I mean, it’s not meant to be fun, I guess.

BD: This album is like something you won’t object to, but it isn’t aiming to win you over. It strives only not to be turned off.

TM: And it’s probably wrong to compare it Tay’s version. It’s its own thing.

BD: But you can’t not compare it. You gotta dance with the one who brung you.

TRACK 9: “WILDEST DREAMS”

BD: So I was at a Taylor Swift-themed SoulCycle last night.

TM: Oh God. Here we go.

BD: And at the end during the stretching they played one of these, and after I walked out, I couldn’t remember what song it was. It just sounded like every other one of his covers.

TM: See, this one kind of works because it’s sort of nostalgic and sad.

BD: Like he’s just reading the words, changing the pronouns, and strumming his dumb acoustic guitar. He sounds like Monsters of Folk. I don’t believe him that it is getting good now. I don’t believe that he knows she’s “so tall.” “SIR, SIR, have you even seen this woman?”

TM: Only from a distance. Restraining order, you know.

BD: Through a telescopic lens. Yeah, I mean, I do feel like this is Songs for the Socially Estranged.

TM: Most of Tay’s songs sound very similar, too, and there’s not a whole lot going on musically, but they’re so fun because she sells the dream.

BD: Tay does the thing where she tries to appeal to every sort of young-adult scenario. Whatever your personal drama in high school is, Taylor has a song for it. This seems all made for the kid who is an emo cutter.

TM: If you strip away the fun, the songs start to fall apart. Tay is good because of Tay.

BD: That’s so true. You can’t strip fun from pop songs, because pop songs are just fantasy nonsense that exist to be fun.

TM: Of course, that would be the message Ryan is trying to telegraph.

TRACK 10: “HOW YOU GET THE GIRL”

BD: His voice is less weak and pathetic here.

TM: But does this sound like he’s getting the girl? No.

BD: No. He sounds upset. He considers this therapy.

TM: This sounds like the girl went home with the jock after prom. After he caught them making out in the bathroom.

BD: Exactly, and now he’s sitting alone on the hood of his car crying in a canyon somewhere, drinking cheap whiskey, playing for whom? He and God and her. Always her. It’s all for her, but then, in reality, he didn’t even love her. He loved the idea of her.

TM: And imagining another life that doesn’t have to be like this.

BD: Thinking that he can’t imagine who he would be had he not had their moments. But what moments did they really have?

TRACK 11: “THIS LOVE”

BD: Ugh. Piano. “My name is Ryan. I can play the piano.”

TM: I think the ones I like more are the more rock and roll ones. There’s a very fine line here between nice music and just falling asleep. I’m already nodding off to this one.

BD: Why did he do this? He must have spent at least some time thinking about this.

TM: Do you think people tried to talk him out of it? “Oh, cool idea…What else are you working on?…Oh, you were serious?”

BD: “Look, Ryan, I like you. I love you. Ryan, I’m your sister. I support you. But this is not a fight you can win.”

TM: “Record it? Like, in a studio?”

BD: “I mean, if you want me to Periscope one song, okay, but…”

TM: “You want the label to pay for this?”

BD: “Have you had a stroke?”

TM: “Look, we know you’re beat up about Mandy.”

BD: “There are other fish in the sea.”

TRACK 12: “I KNOW PLACES”

TM: I like this one. It’s at least different.

BD: The beat is better immediately.

TM: This could be in a Tarantino movie.

BD: Yeah, it’s got style.

TM: Kind of sexy, like we finally left New Jersey and are almost to Mexico City. Sounds like something you could listen to smoking a big joint and driving really fast through the desert in a Jeep.

BD: I do still hate his voice. I know I sound like a broken record, but I hate his voice. “They got the keys, they got the boxes.” Who is he talking about? The landlord? Was he evicted?

TM: If so, he sounds pretty happy about it.

BD: It’s funny that he finally sounds happy in the song about them having to pack up their lives and flee.

TM: That’s what he always wanted anyway. He’s happy to be unhappy.

BD: “They are the hunters, we are the foxes.” Fox hunting isn’t a thing in the US. Are they in Britain?

TM: I wonder if they recorded the whole thing in like one day. First take.

BD: I sort of feel like they may have? “We have 65 minutes. That leaves eight minutes for a smoke break and a three for a piss.”

TRACK 13: “CLEAN”

BD: Okay, so I hate this song even when Taylor sings it. This is my least favorite song on Taylor’s album, so I am open to his being better.

TM: I really think he could have done more on all these to push it to weird new places.

BD: Because he hasn’t!

TM: Yeah, not really.

BD: He’s just played it like any Berklee music student could have.

TM: Apple Music calls this album “intimate” and “disarming.”

BD: “Disarming”? Who the hell is searching for “disarming” on iTunes? They should be on an FBI watchlist for sexual predators.

TM: I actually don’t find it intimate at all.

BD: I don’t know what the hell this is a metaphor for. His heart isn’t in it.

TM: Well, that’s it. Seagulls again. Coney Island?

BD: Okay, I hated that. I hate Ryan Adams.

TM: I mean I wouldn’t necessarily turn it off, but I don’t plan to turn it on again, which is like the opposite of Tay.

BD: Like elevator music, you couldn’t. Okay, I have to run to therapy, but I’ll be back in 30 minutes for final thoughts.

TM: Go have a good cry. At least you can say this is good music to prep for therapy. Therapy pregame with Ryan Adams.

43 minutes later

BD: I am back. I had a very nice therapy.

TM: Did Ryan come up? Could you get the songs out of your head?

BD: He came up in spirit, but I described him as “my friend who is going through some things.”

TM: The only one I can remember now is “Wildest Dreams.” That’s the one that stuck with me.

BD: Which is a good segue into…What was this album all about?

TM: Existential angst ironically channeled through happy pop music

BD: Yes.

TM: Desaturated Taylor Swift. Tay in black and white.

BD: How a constitutionally angsty person can deliver their angst through pop music. “Words mean nothing—it’s all in the the way you say them.”

TM: While Tay is driving to the party, Ryan is hanging his 5 mm B&W portrait of her music on the wall at the art show in the lunchroom on Friday night, alone.

BD: Like a dramatic actor doing a Shakespeare comedy, it’s not going to be funny, but maybe there is some honesty there? Like, some sort of unplugged brutalism? It’s a very sad album. I’m worried about Ryan. I mean, I’m not really worried because, look, people die. But if I knew him better I would be worried. *If I cared.*

TM: So I’m probably not going to listen to that album ever again. It had its moments, but now I just want to listen to the Taylor version. And feel okay about my life again.

BD: I also will never listen. REVIEW: DON’T BUY, but it’s okay in elevators.

Original post: 

We Finally Got Around to Ryan Adams’ "1989." Here Are Our Instant Reactions to Every Track.

Posted in alo, Brita, FF, GE, LG, Mop, ONA, PUR, Uncategorized | Tagged , , , , , , | Comments Off on We Finally Got Around to Ryan Adams’ "1989." Here Are Our Instant Reactions to Every Track.

Debating the Debates: Should Democrats Have More?

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

Ryan Cooper wants more debates. Before we boo him off the stage, though, note that he’s asking for more Democratic debates. And he thinks Hillary Clinton ought to be in favor. Here’s why:

It would stop Republicans from dominating 2016 coverage….While a lot of the attention is negative due to half the candidates being strap-chewing lunatics, it’s still building a sense of excitement.

….It would give the political press something to talk about besides the endless, pointless Clinton email story.

….Clinton could probably use the practice. I still remember the first presidential debate in 2012, when President Obama was roundly defeated by Mitt Romney. Obama looked like a very powerful man who was not used to being sharply challenged, and came off as simultaneously haughty and unsure of himself. Hillary Clinton is a smart, capable person, but sycophantic courtier syndrome is a real thing, and a square debate on equal footing is one of the few ways someone of Clinton’s fame and standing can work against it.

Let’s examine this. More debates would be fun. On the other hand, it would mean yet more long nights of liveblogging for me. On the third hand—wait a second. I’m curious about something. Do other countries have debates? According to Wikipedia, yes. The following countries have regular campaign debates:

Australia
Brazil
Canada
France
Germany
Ireland
Kenya
Malta
Mexico
Netherlands
New Zealand
United Kingdom
United States

That’s not very many. Thirteen countries out of 200—and only seven that aren’t part of the old British Empire. It’s a little odd that the Anglo-Saxon bloc is so gung-ho on debates, considering that Mother Britain didn’t have its first televised debate until 2010. Of course, they only held a grand total of three, but then again, their campaign season only lasts six weeks. At that rate, we’d have 30 or 40 debates in America.

Anyway, what were we talking about? Oh yes: should Hillary Clinton welcome more debates? I’m going to say no. A presidential campaign is obviously a zero-sum affair, and all her competitors want more debates. Unless they’re idiots, that’s because they think it will benefit them—which it would, by giving them priceless exposure. Obviously Hillary has no interest in that, so like most front runners she wants fewer debates.

So all other arguments aside, the DNC is unlikely to change its mind on this. So tune in on October 13 for the first Democratic debate, held at the fabulous Trump Las Vegas. Just kidding. That would be a hoot, though, wouldn’t it? It will actually be held at the fabulous Wynn Las Vegas, owned by a Democratic billionaire rather than a Republican one.

Original post:  

Debating the Debates: Should Democrats Have More?

Posted in Brita, FF, GE, LG, ONA, Uncategorized, Venta | Tagged , , , , , , , , | Comments Off on Debating the Debates: Should Democrats Have More?

We Love America, and You Should, Too

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

James West: Okay. How to start. How to start?

Ben Dreyfuss: July 4th! America! That great American holiday wherein we celebrate some bit of the American story. I think the earliest bit. Or the earliest official bit? We aren’t celebrating the stuff with the Mayflower.

JW: So the idea is we’re chatting about what makes this holiday so great for Americans and America and by extension the world, because for Americans: America is the world. It’s a bit off-brand for Mother Jones, no?

BD: You could say that, yes. We don’t have a lot of stories called “America Is Great.”

JW: It’s usually: “America: It’s Far Worse Than You Think ” or “America: Get Out. Seriously, Get Out While You Can.”

BD: But you can’t be critical all of the time or you’ll have an aneurysm. So let’s talk about the truth of the thing, which is that we actually love America! We’re harsh and critical about it, but that’s because we love it so much. We wouldn’t bother writing these stories that urge it to be better if we didn’t have some deep abiding love for it.

JW: I mean, I love America more than is reasonable, because I left a sun-soaked beach paradise with universal health coverage and a social safety net to move to this rat-infested fuckshow called New York City. But anyway, I’m going to start with a simple question. What is your favorite thing about America? FIRST THING that comes to your mind.

BD: Blue jeans. I think blue jeans are amazing. I also love Hollywood and rock & roll. Blue jeans and Hollywood and rock & roll won the cold war.

JW: Blue jeans, when they’re not made by children in Asia.

BD: Well, even then we invented them. Guess” may make them in Asia but those kids are playing an American song.

JW: “Designed in California” is how Apple describes that particular phenomenon.

BD: Apple! Right, that’s another cool thing America has. Innovation! Other places have that too, though.

JW: Innovation is one thing I think America excels at quite legitimately and can lay claim to (despite lack of diversity hires.) Have you tried to use 3G in the UK? It’s awful. And all their websites break when you try to book a ticket to see Jurassic World 3D. The internet is basically America. At least in the Anglophone world.

BD: That’s true, but in their favor they did invent radar.

JW: Jurassic World 3D, by the way, is an American film, made by Americans.

BD: American films are the best films. This is a fact. Cinema is—along with Jazz—the great American art form.

JW: I think that’s a fact, too. I mean, what is the comparison? French films? I don’t think so. Bollywood? Bollywood is great. But very long films.

BD: And cinema in a very real sense created the American identity that has been exported around the world. For instance, would blue jeans be as important had not James Dean worn them? The French films are all very…well, French. Great! But arty to the point of being intentionally obtuse.

JW: British films are all set in a kitchen making tea… why is that? And Keira Knightley is in every single one of them.

BD: Have you seen the Eddie Izzard bit on the differences between British and American films?

BD: British films are all “room with a view and a staircase and a pond.”

JW: Now I’m in an Eddie Izzard YouTube K-hole.

BD: “You fuck my wife? You fuck my wife?” “I am your wife!”

JW: Okay, now I’m going to stop this.

BD: One thing I think he gets at in this discussion of the size and expanse of American films is the thematic size and expanse of the American ideal, right?

JW: Big, brash, uncompromising, and designed to sell you food made out of corn served in containers made of corn, in seats made of corn.

BD: You had this ridiculous frontier mentality in the 18th century. Then you have the moon looming large in the 20th century. There is this idea that you can do anything in America! Even though this isn’t true and the poverty trap here is as terrible as anywhere, it’s still baked into the pitch. You came here from Australia. Did you get that growing up?

JW: I think what most Australians refuse to really admit is that we are far more similar to Americans than we are to the British. Same frontier thing, same sense of upward-mobility (as a sometimes-flawed, problematic) national obsession, same sense that given the right circumstances everyone can achieve greatness. (Though in Australia’s case, not too great, otherwise you’re arrogant, “like an American.”)

BD: Haha right. “Arrogant like an American” is a very British thing. You still have traces of British in you.

JW: It’s tactical! America loomed large—and continues to loom the largest for Australians, I think. My childhood was drenched with all the cultural products your childhood was.

BD: Nationality was—and is—far less a divide than age… because “everything is global, man!”

JW: If I dusted off my Marxist undergraduate degree I would say something about the spread of global capitalism and America’s imperialist soft power. But that’s kind of boring, isn’t it. Plus, I love America.

BD: Right, I mean we’re going to get into the Bad Bits later. We are liberal journalists, after all.

JW: And if there’s any country’s soft power I would want, it’s America’s, on balance. I mean, Scandinavian furniture is really nice, and better than American, but they aren’t a superpower. But given the choice of current superpowers, I would throw my chips down for America. Also, New York hosts the UN, man, and it’s a beautiful building full of august (ineffective!) debate about the future of the planet!

BD: And Hillary Clinton wasn’t afraid to announce her run for president in front of it!

JW: No. That was bold.

BD: That was great. I think a lot of people—myself included—think of America as a leader of the world, right? But what Hillary was saying with that backdrop was that we’re a leader sure, but still a member of this global community. And that’s true and important and when America acts like its worst self on the global stage is when we forget that.

JW: I’ve been doing some thinking about this question, and I want to get sentimental for a second about America. Are you ready?

BD: Yes.

JW: America got a really bad wrap in recent years around the world for obvious reasons. And it made people kind of…”bigoted” against Americans. Certainly there was this feeling that American culture is crass, debased, somehow inferior. But actually I’ve only ever found the opposite: a culture that is genuinely open to people and ideas, in the pursuit of creating something cool. In my case, writing and videos. But there’s never any hesitation to welcome an idea in any field, from my experience. Americans are natural storytellers, and therefore natural listeners, alert to things and excited by them. That’s a really fun culture to be around.

BD: Right. Like, storytelling is a big thing in like every culture but it does hold a special place in America.

JW: Every American has a “story.” That’s fun. (And great for a reporter.)

BD: Nietzsche said that everyone tells themselves the story of their life. That’s true about countries, too. We’re constantly telling ourselves the American story.

JW: Americans are especially good at framing a personal narrative, and then putting it on a path to redemption. Right, the same is true for the country.

BD: I think we do that because—we should do it more, too—but we do that because we have done so much terrible shit. Like, I know we’re talking about America as one thing right now and basically it’s a very New York liberal blah blah version of America but I was raised with an acute awareness of our original sins. The story of America is necessarily one of progress because if it’s not than it’s a stale story where we have not risen above Klansmen.

JW: I do like the stakes involved in the project of America though: “We’ve done awful shit. We’ll keep doing awful shit. But we also think of ourselves as the best country on Earth, so we have to hold ourselves to a higher ideal.” I mean, what a crazy motherfucking insane project that is. The Russians don’t do that. The Chinese don’t do that. But it matters, because if America succeeds in that project, the world is a better place for it.

BD: But like also, yeesh, obviously America is still totally fucking awful on these issues.

JW: Dreadful.

BD: And it’s insane. For decades in America, centuries even, lynching was just a thing that happened. Then not that long after people looked back at it with the genuine shock and outrage it deserved and wondered, “HOW THE HELL DID WE DO THAT?” I think we’ll look back on a lot of stuff that happens today the same way. Not seeing ourselves—not recognizing ourselves— in our own history. That’s a scary feeling. One that everyone can’t help but feel time to time.

JW: But at the same time, America has this idea of itself—rightly, wrongly—of becoming better, never settling, never being comfortable, always at war with the concept of “doing good”—and that makes it really interesting from an outsider’s perspective. I’m from Australia. We go to the beach instead of confront our demons.

BD: Haha.

JW: I mean, if you guys had beaches like Australia’s you’d do the same.

BD: Have you been to Southern California? Southern California is the most beautiful place on Earth.

JW: OK, apart from Southern California, which is beautiful. And the Pacific Northwest. And actually, a lot of America is really beautiful.

BD: Gorgeous!

JW: Haha.

BD: There are ugly bits but even the ugly bits aren’t that bad.

JW: Coming back from Newark airport is pretty bad.

BD: Wait, wait, before we start just listing our favorite parts of America—which we’ll do in a second— I want to do something before we leave the history bit of this discussion.

JW: Okay.

BD: The constitution looms large, right? My dad likes to talk about how it was a first. Other people had strived for freedom and promise and ratatatata but the Constitution was the first time we codified it aspirationally and wrote it down and put it up on a wall and said, “this is us.” If your father was a cobbler, and his father was a cobbler, and his father was a cobbler, you don’t have to be a cobbler.

I mean Magna Carta was codified, DAD. “Look, dad, have you even fucking read the Magna Carta?”

JW: Apparently the Magna Carta was over-rated?

BD: I mean, it seems like it would have to be.

JW: Look at Britain now!

BD: Haha.

JW: I think Constitutional festishism can be a bit of a problem, though. Pick your amendment to be a nut about!

BD: Right. No one seems to give a fuck about them all equally. I mean, it would be weird to do that maybe too. I hate the constitutional originalism. Like, it’s not some magical document. It was written by a bunch of smart people—most of whom are in hell now by the way—hundreds of years ago. Who gives a fuck what the founding fathers would think?

JW: Also, they would have been horrible people, by modern standards.

BD: Horrible!

JW: With awful teeth.

BD: Wooden!

JW: Thank god for fluoride. When I think of America, I think of Janis Joplin. I think of Nina Simone. I think of Martin Luther King Jr. I think of protest and struggle. There’s never really been a time of calm—where counter culture has given in. All the way through to Baltimore, Ferguson, Charleston.

BD: That’s so interesting. Maybe it’s just because I’m a ’90s kid but I really had this disruptive change after 9/11 where I felt a calmness lost. Like that is definitely because of “white privilege” and shit though.

JW: Yeah, the “innocence lost” narrative of 9/11 is one to poke holes in for sure, but the whole world was involved, so wasn’t just about America at that point.

BD: Sure, but I don’t think it’s true that it was like equally spread out over the world. A few months ago I was abroad somewhere and a political person from that country was trying to make some point and kept being like “how did you feel on 9/11?” and I was like, “stop trying to co-opt our tragedy for your own bullshit purposes.”

JW: Haha. Well, loads of countries went to war with you guys, including ours. So in that sense your tragedy was very ours.

BD: Anyway…

JW: Can we list other things we like about America now, in short order?

BD: Yes. Southern California, Jazz, Hollywood, our breakfasts, the Pacific Northwest, basketball, rock & roll, going to the moon, leather jackets, bourbon, New York City.

JW: The Good Wife. Road-trips and going to diners on road trips with my BF. HBO. The Empire State Building.

BD: The Good Wife! The Americans! Pop music!

JW: American newscasts and hyperbolic segues. I love them. I also love the weather segments which go for so long compared to back home.

BD: Oh, they’re amazing I love the bullshit morning shows. They’re so stupid but I love them.

JW: The national anthem is also pretty special, and amazing, piece of music. Especially as sung by Whitney.

BD: We’re good at music.

JW: And I also think—I’m going to say it—the design of your national flag is really iconic and beautiful.

BD: Yeah it’s nice. I like it. It’s on the moon, too! When the aliens come they’ll be very impressed.

JW: America! I’m so worked up about America now and feel so self-validated by my decisions to move here! Yay, America!

BD: Yay!

JW: Happy July 4!

BD: Ok, so I guess that’s how we wrap this up. We love America. You should too.

JW: I think I wanna end on a quote from my favorite American play (duh—it’s so unsurprising. don’t laugh)… Angels in America… About the guy who wrote the national anthem, one of the characters remarks that he “knew what he was doing. He set the word ‘free’ to a note so high nobody can reach it.”

I like that. Sums it up for me. Still trying to hit that high note.

BD: Perfect. All right, let’s publish this motherfucker.

See original article: 

We Love America, and You Should, Too

Posted in alo, Anchor, bigo, Brita, Everyone, FF, GE, LAI, LG, ONA, Paradise, PUR, Radius, Uncategorized, Venta | Tagged , , , , , , , , | Comments Off on We Love America, and You Should, Too

This Supercut of Candidates Singing "Let’s Get It On" Is Why We Love Britain During Elections

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>

(function(d, s, id) var js, fjs = d.getElementsByTagName(s)0; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.3”; fjs.parentNode.insertBefore(js, fjs);(document, ‘script’, ‘facebook-jssdk’));

Who could get it on after #GE2015? Watch our #GeneralAffection song to find out.Full election coverage on Sky News, May 7th from 9pm.

Posted by

Sky News on Thursday, April 30, 2015

British voters head to the polls tomorrow for what promises to be a very tight election. Latest polling suggests the two major parties, Labour and the Conservatives, are tied near the finish line. The result is likely to be what’s known as a “hung parliament”. Both Labour and the Conservatives will need support from smaller parties across the spectrum to form government—among them the Scottish National Party (SNP) on the left, the Liberal Democrats somewhere around the center, and UKIP, on the right. Whomever can stitch together enough seats in parliament to win a majority will ultimately form government. If no group of parties can get to the magic number of 326 seats, Britain might well be heading back to the polls again soon to sort this whole mess out.

Even if you’re unfamiliar with British politics, the video above from Sky News gives a nice introduction to the main players—David Cameron (the current Conservative PM), Ed Miliband (the current opposition leader, from the Labour party), and Nicola Sturgeon, from the resurgent SNP among them. All set to Marvin Gaye’s classic, “Let’s Get It On”. Enjoy. (And happy voting, friends across the pond.)

Originally posted here: 

This Supercut of Candidates Singing "Let’s Get It On" Is Why We Love Britain During Elections

Posted in Anchor, Brita, FF, G & F, GE, LG, ONA, Radius, Ultima, Uncategorized, Venta | Tagged , , , , , , , , , , | Comments Off on This Supercut of Candidates Singing "Let’s Get It On" Is Why We Love Britain During Elections

The Feds Say One Schmuck Trading From His Parents’ House Caused a Market Crash. Here’s the Problem.

Mother Jones

<!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.0 Transitional//EN” “http://www.w3.org/TR/REC-html40/loose.dtd”>
Illustration by Giacomo Marchesi

On Tuesday, the Justice Department and the Commodity Futures Trading Commission, a key Wall Street regulator, blasted out press releases declaring a great victory in their war on illegal manipulation of financial markets. The reason for the feds’ braggadocio? They think they’ve caught the guy who caused May 2010’s “flash crash,” a market seizure that vaporized a trillion dollars in shareholder value in a matter of minutes.

Federal regulators say that Navinder Singh Sarao, a 36-year-old British futures trader whose company was reportedly based in his parents’ home, illegally placed huge sell orders he never intended to complete, artificially driving down the price of a key futures contract so he could later swoop in to buy it cheaply. (This is called “spoofing” in financial jargon.) There’s one big problem, though: By charging Sarao with “contributing to the market conditions that caused” the flash crash, federal regulators are changing their story about what really happened to financial markets five years ago.

Here’s the background. In the days and weeks after the flash crash, the Securities and Exchange Commission, alongside other regulators, worked diligently to figure out what had happened. The flash crash was chaos: Liquidity evaporated, the same stocks traded at both a penny and at $100,000, and CNBC hosts freaked out even more than usual. (Prices eventually returned to normal, and the SEC canceled some of the weirdest trades.)

The flash crash was essentially over in five minutes. But it took regulators nearly five months to come up with a theory about what happened. And in late September 2010, when the SEC and the CFTC—the same agency now charging Sarao with causing the crash—released a joint report on what happened, they didn’t mention spoofing, let alone Sarao. Instead, they blamed a large trade by a firm out of Kansas City.

It’s not even clear that the feds’ new explanation is correct. As Matt Levine notes over at Bloomberg View, regulators believe that Sarao continued to place massive fake sell orders in the years after the flash crash, but somehow that activity never triggered another crisis:

If regulators think that Sarao’s behavior on May 6, 2010, caused the flash crash, and if they think he continued that behavior for much of the subsequent five years, and if that behavior was screamingly obvious, maybe they should have stopped him a little earlier?

Also, I mean, if his behavior on May 6, 2010, caused the flash crash, and if he continued it for much of the subsequent five years, why didn’t he cause, you know, a dozen flash crashes?

So I mean…maybe he didn’t cause the flash crash?

But in some ways, it doesn’t particularly matter whether regulators’ new theory is correct. What matters is that it took so long for them to develop it.

As I reported in January 2013, today’s financial markets move so fast that regulators can’t even monitor them in real time, let alone intervene if something starts to go wrong. Sophisticated trading algorithms can buy and sell financial products faster than you can blink—all without human intervention, let alone real-time human judgment. When something does go wrong, it can take months or years to figure out what happened. “A robust and defensible analysis of even a small portion of the trading day can itself take many days,” Gregg Berman, who wrote the 2010 SEC/CFTC report, told me in 2013.

Since real-time intervention by human regulators is impossible, regulators have to rely on automatic measures—fail-safes that stop trading if prices rise or fall too fast, for example. But these sorts of automatic braking systems are, by definition, designed in response to the previous crisis. “We’re always fighting the last fire,” Dave Lauer, a market technology expert who has worked for high-speed trading firms, said in 2013. As I wrote then:

Years of mistakes and bad decisions led to the 2008 collapse. But when the next crisis happens, it may not develop over months, weeks, or even days. It could take seconds.

More here.

See more here:

The Feds Say One Schmuck Trading From His Parents’ House Caused a Market Crash. Here’s the Problem.

Posted in alo, Bragg, Brita, FF, G & F, GE, LG, ONA, Uncategorized, Venta | Tagged , , , , , , , , | Comments Off on The Feds Say One Schmuck Trading From His Parents’ House Caused a Market Crash. Here’s the Problem.