Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“The green energy ‘transition’ is simply not happening. Nor will it happen soon, or cheaply. We haven’t even reached Peak Wood, let alone Peak Oil or Peak Coal…

““To eliminate carbon emissions by 2050,” Vaclav Smil writes, “governments face unprecedented technical, economic and political challenges, making rapid and inexpensive transition impossible.””

https://www.telegraph.co.uk/news/2024/06/08/net-zero-green-energy-transition-vaclav-smil-says-no/


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“Shrink the Economy, Save the World? Economic growth has been ecologically costly — and so a movement in favor of ‘degrowth’ is growing…

“The realization that we hadn’t innovated our way out of our ecological predicament, along with inequalities laid bare by the 2008 financial crisis, fueled a more widespread distrust of the conventional capitalist wisdom. Maybe relentless economic growth was more poison than panacea.”

https://www.nytimes.com/2024/06/08/books/review/shrink-the-economy-save-the-world.html


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“As US dollar dominance persists, what if the centre cannot hold?

“No state can withdraw from globalisation on its own terms, and the world cannot have one power in effect running monetary policy on behalf of everyone else… The United States is stuck too with strong capital inflows… Where will this vicious circle end? Maybe in currency crises…”

https://www.scmp.com/opinion/world-opinion/article/3265655/us-dollar-dominance-persists-what-if-centre-cannot-hold


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“The Terrorism Warning Lights Are Blinking Red Again… Echoes of the Run-up to 9/11…

“In at least eight appearances before Congress since last fall… Cristopher Wray has identified three different categories of threats to the U.S. homeland: international terrorism, domestic terrorism, and state-sponsored terrorism. All three, he told the Senate Judiciary Committee in December, are “simultaneously elevated.””

https://www.foreignaffairs.com/united-states/terrorism-warning-lights-are-blinking-red-again


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“Boeing woes weigh on credit rating as spectre of junk status looms…

“Boeing, a manufacturing pioneer, linchpin of the US defence business and survivor of a century of turbulence in the aviation industry, is facing a once-unthinkable prospect: having its debt rating cut to junk.”

https://www.ft.com/content/d0bd3b07-b12b-4839-aa01-9034597cb7bd


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“US struggles to deport illegal migrants at border amid shortage of flights…

“President Joe Biden announced a raft of measures to tackle the surge in migration through the southern border last week as immigration emerges as one of the biggest threats to Mr Biden’s chances of re-election.”

https://www.telegraph.co.uk/world-news/2024/06/09/us-surge-migration-flights-border-joe-biden-election/


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“Critical fuel shortages for commercial flights at airports across Japan have hampered the increase in the number of international flights and adding new routes, local media reported on Saturday.

“A spike in the demand for flights because of increasing inbound tourism has outpaced the supply capacity of petroleum refiners, with the issue further compounded by labor shortages…”

https://www.aa.com.tr/en/asia-pacific/critical-fuel-shortages-hinder-flight-increase-plans-amid-tourism-surge-in-japan/3244493


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“New Zealand to lift oil drilling ban amid blackout fears…

“The country’s coalition government is preparing to invite energy companies to resume exploration in the three major offshore fields that supply most of its gas. It comes after National Grid operator Transpower was last month forced to warn families to limit their electricity usage to avoid a shutdown during a cold snap.”

https://www.msn.com/en-gb/news/world/new-zealand-to-lift-oil-drilling-ban-amid-blackout-fears-in-blow-to-starmer/ar-BB1nT0sk


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“Labour’s net zero plans risk leading to blackouts and public unrest, the Energy Secretary has claimed.

“Claire Coutinho told The Telegraph Labour’s pledge to convert Britain to clean power by 2030 – five years earlier than the Conservatives – would put the country’s energy security in jeopardy.”

https://www.telegraph.co.uk/politics/2024/06/08/labour-net-zero-plans-risk-blackouts-claire-coutinho/


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“Far right surges in EU vote, topping polls in Germany, France, Austria…

“While mainstream parties kept control of the 705-member European Parliament on Sunday, the 27-member bloc swung palpably to the right in a sign of the durability of anti-establishment sentiment on the continent.”

https://www.aljazeera.com/news/2024/6/9/germany-and-frances-far-right-make-gains-in-eu-elections


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“Tensions flare on Poland-Belarus border as more migrants arrive…

“Tensions over migration are high across Europe as far-right parties calling for tougher controls face off against centrist movements in European Parliament elections, which are taking place in Poland on Sunday. Here, that standoff has an extra geo-political edge.”

https://www.reuters.com/world/europe/tensions-flare-poland-belarus-border-more-migrants-arrive-2024-06-08/


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“Macron calls snap French election and Belgian PM to resign after disastrous poll results…

“Mr Macron said he could not “pretend nothing had happened” and admitted the EU election was “no good” for his government. The “rise of nationalists” is a danger to France and to Europe, he said.”

https://news.sky.com/story/president-emmanuel-macron-dissolves-french-national-assembly-and-calls-for-snap-election-13150407


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“AFD help inflict worst-ever EU defeat on Olaf Scholz’s party…

“Germany’s hard-Right Alternative for Deutschland (AfD) party shrugged off a string of scandals as it surged in the EU parliament elections on Sunday. AfD claimed second place, exit polls showed, with the centre-Right CDU claiming top spot.”

https://www.telegraph.co.uk/world-news/2024/06/09/afd-eu-defeat-olaf-scholz-party-sdp-election/


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“NATO Fund Backs German Startup Making Self-Driving Battlefield Robots…

“The North Atlantic Treaty Organization launched its inaugural tech fund, which is financed by 24 of the 32 nations in the military alliance, more than a year into Russia’s invasion of Ukraine. It invests into new businesses in defense, cybersecurity and related areas…”

https://www.bloomberg.com/news/articles/2024-06-10/nato-fund-backs-german-startup-making-self-driving-battlefield-robots


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“Biden, Macron reach agreement on using Russian assets for Ukraine…

“US President Joe Biden said on Sunday (9 June) he had reached an agreement with French President Emmanuel Macron on the use of profits from frozen Russian assets to help Ukraine. Asked if the two men had discussed the issue and whether they had come up with an agreement, Biden replied “Yes and yes.””

https://www.euractiv.com/section/global-europe/news/biden-macron-reach-agreement-on-using-russian-assets-for-ukraine/


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“Exclusive: G7 plans to warn small Chinese banks over Russia ties, sources say…

“Leaders gathering at the June 13-15 summit in Italy hosted by Prime Minister Giorgia Meloni are expected to focus heavily during their private meetings on the threat posed by burgeoning Chinese-Russian trade to the fight in Ukraine, and what to do about it.”

https://www.reuters.com/world/g7-plans-warn-small-chinese-banks-over-russia-ties-sources-say-2024-06-09/


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“China says US provoking arms race in moves into South China Sea…

“The U.S. poses the largest security challenge in the South China Sea as its military deployment there is turning it into “the whirlpool of an arms race”, Chinese Vice Foreign Minister Sun Weidong said in remarks published on Sunday.”

https://www.reuters.com/world/asia-pacific/china-says-us-provoking-arms-race-moves-into-south-china-sea-2024-06-09/


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“The Philippines will continue to maintain and supply its outposts in the South China Sea without seeking permission from any other country, the country’s national security adviser said.

“The Philippines national security council said on Saturday it reaffirmed its commitment to uphold its sovereign rights and jurisdiction over the Second Thomas Shoal.”

https://www.reuters.com/world/china/philippines-continue-supply-south-china-sea-outposts-2024-06-08/


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“Tensions rise as North and South Korea engage in a trash battle across borders.

“For days, North Korea has been launching trash-filled balloons toward South Korea, prompting the nation to blast messages and K-pop music using high-powered loudspeakers toward the North in return. The battle between the two countries dates back to the Cold War.”

https://www.nbcnews.com/nightly-news/video/tensions-rise-as-north-and-south-korea-engage-in-a-trash-battle-across-borders-212592709817


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“Govt’s higher bank borrowing to affect private credit flow [Bangladesh]…

“The higher bank borrowing by the government will hinder credit flow to the private sector which will adversely affect investment and employment, according to the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).”

https://www.thedailystar.net/business/economy/news/govts-higher-bank-borrowing-affect-private-credit-flow-fbcci-3630281


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“Sri Lanka’s Debt Reaches Over $100 Billion Amid Ongoing Economic Struggles…

“Sri Lanka’s national debt has surged past $100 billion, reflecting the country’s ongoing economic challenges and efforts to stabilize its finances. The latest figures reveal that unpaid principal and interest now exceed $6.4 billion, highlighting the severity of the fiscal crisis.”

https://slguardian.org/sri-lankas-debt-reaches-over-100-billion-amid-ongoing-economic-struggles/


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“China gives nod to build dam on Brahmaputra, near Arunachal Pradesh border…

“China’s Parliament on Thursday adopted the 14th Five-Year Plan, the mega blueprint containing billions of dollars worth of projects, including the controversial hydropower project on the Brahmaputra river in Tibet close to the Arunachal Pradesh border over which India has raised concerns.”

https://www.livemint.com/news/world/china-gives-nod-to-build-dam-on-brahmaputra-near-arunachal-pradesh-border-11615457984716.html


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“Government institutions default on electricity bills worth billions [Pakistan]…

“In a shocking revelations, various government institutions turned out to be have unpaid dues of Rs 71.16 billion in terms of electricity bills, ARY News reported on Sunday. According to the spokesperson of the Islamabad Electric Supply Company, the Azad Kashmir government tops the list…”

https://arynews.tv/govt-institutions-default-on-electricity-bills-worth-billions/


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“Israel’s options for war with Hezbollah…

“…the grinding conflict in the north has come into sharp focus again in recent days after cross-border strikes reached a new level of intensity with larger and more sophisticated weaponry that has deepened fears of an all-out Israel-Hezbollah conflict or even a regional war.”

https://www.telegraph.co.uk/world-news/2024/06/09/israels-options-for-war-with-hezbollah/


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“Israeli war cabinet minister Benny Gantz quits emergency government…

“Considered by some to be a potential challenger for power in Israel, Mr Gantz called on Mr Netanyahu to set a date for elections. Mr Netanyahu responded with a post on X: “Benny, this is not the time to quit the campaign, this is the time to join forces.””

https://www.bbc.co.uk/news/articles/clkkdymdwlvo


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“Israeli Soldiers Exchange Fire along the Border with Egypt as Regional Tensions Rise…

“Israel said one of its troops was “slightly injured” in an exchange of fire along the country’s border with Egypt, which Cairo attributed to drug smuggling. One person in Egypt was killed… Ties between the two countries have been strained since the Israel-Hamas war began.”

https://english.aawsat.com/arab-world/4792466-israeli-soldiers-exchange-fire-along-border-egypt-regional-tensions-rise


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“‘Full war’ rages in North Darfur capital that was supposed to be haven...

“In Sudan’s North Darfur state, displaced people and doctors say the paramilitary Rapid Support Forces are attacking hospitals and camps in the capital, El Fasher. Meanwhile… the world is paying little attention as a city that was supposed to be a haven for those forced out of their homes by war is being torn apart.”

https://www.voanews.com/a/full-war-rages-in-north-darfur-capital-that-was-supposed-to-be-haven/7649433.html


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“Escalating conflict in Democratic Republic of Congo fuels growing humanitarian crisis…

“Years of violence between factions vying for control in the Democratic Republic of Congo have internally displaced 5.7 million people, according to the United Nations. Since 1996, fighting in the region has led to about 6 million deaths.”

https://www.pbs.org/newshour/show/escalating-conflict-in-democratic-republic-of-congo-fuels-growing-humanitarian-crisis


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“Venezuelan gang’s arrival shakes Latin America’s safest nation [Chile]…

“Experts say Chile has fallen victim to a regional trend, in which organised crime groups have embraced business models less tied to their home territories in the wake of the pandemic. Cells in different countries exercise autonomy…”

https://www.ft.com/content/720cb0bb-63d1-4145-9de8-7ef382c6fe59


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“Why Paraguay is militarising its southern border…

“From a global perspective, Paraguay and its 6 million inhabitants are not a focal point of interest in the region… But its borders… have become well-known hotspots of drug trafficking and contraband, with some even accusing Paraguay of harboring terrorist organizations.”

https://brazilian.report/latin-america/2024/06/09/paraguay-militarizing-southern-border/


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“How I’m preparing my children for World War III…

“The first way that I am preparing for the possibility of World War III in my children’s lifetime is by reminding myself that my duty as a mother is actually not to keep my children out of harm’s way… Rather, it’s a mother’s job to ensure that her children know how to properly confront danger.”

https://www.mercatornet.com/children_world_war_iii


You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.

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