On Mon, Nov 11, 2013 at 10:44 AM, Tom Walker <[email protected]> wrote:
> <...>economic recovery will never have to be demonstrated. These "assets" > will never be burned -- or stranded -- simply because they never were > assets in the first place, except on paper. > > > An interesting assertion. Pure intuition? Or is there historical or empirical evidence. > On Mon, Nov 11, 2013 at 10:12 AM, Eugene Coyle <[email protected]>wrote: > >> Those assets will only be stranded if they don't get monetized by being >> burned. >> >> Not burning money, getting money by burning carbon. Is this a great >> country or what? >> >> >> On Nov 11, 2013, at 9:32 AM, Tom Walker wrote: >> >> > The past few weeks have seen a torrent of warnings about the stranded >> asset "carbon bubble." >> > >> > >> http://online.wsj.com/news/articles/SB10001424052702304655104579163663464339836 >> > >> http://www.theguardian.com/environment/2013/nov/01/gore-warns-carbon-bubble >> > >> http://www.fool.ca/2013/11/08/how-safe-is-your-portfolio-from-the-carbon-bubble/ >> > http://www.cnbc.com/id/101120966 >> > http://ensia.com/voices/the-other-reason-for-divestment/ >> > >> http://www.newscientist.com/article/mg22029415.700-an-oil-crash-is-on-its-way-and-we-should-be-ready.html?full=true#.UoArMvnkuR3 >> > >> > >> > >> > >> > >> > On Mon, Nov 11, 2013 at 7:14 AM, Louis Proyect <[email protected]> wrote: >> > When, on May 10, 2013, scientists at Mauna Loa Observatory on the big >> > island of Hawaii announced that global CO2 emissions had crossed a >> > threshold at 400 parts per million for the first time in millions of >> > years, a sense of dread spread around the world - not only among climate >> > scientists. >> > >> > CO2 emissions have been relentlessly climbing since Charles David >> > Keeling first set up his tracking station near the summit of Mauna Loa >> > Observatory in 1958 to monitor average daily global CO2 levels. At that >> > time, CO2 concentrations registered 315ppm. CO2 emissions and >> > atmospheric concentrations have been climbing ever since and, as the >> > records show, temperatures rises will follow. For all the climate >> > summits, the promises of "voluntary restraint," the carbon trading and >> > carbon taxes, the growth of CO2 emissions and atmospheric concentrations >> > has not just been relentless, it has been accelerating in what >> > scientists have dubbed the “Keeling Curve." >> > >> > In the early 1960s, CO2ppm concentrations in the atmosphere grew by >> > 0.7ppm per year. In recent decades, especially as China has >> > industrialized, the growth rate has tripled to 2.1ppm per year. In just >> > the first 17 weeks of 2013, CO2 levels jumped by 2.74ppm compared to >> > last year -- "the biggest increase since benchmark monitoring stations >> > high on the Hawaiian volcano of Mauna Loa began taking measurements in >> > 1958."[1] Carbon concentrations have not been this high since the >> > Pliocene period, between 3 million and 5 million years ago, when global >> > average temperatures were 3 degrees or 4 degrees Centigrade hotter than >> > today, the Arctic was ice-free, sea levels were about 40 meters higher, >> > jungles covered northern Canada and Florida was under water - along with >> > coastal locations we now call New York City, London, Shanghai, Hong >> > Kong, Sydney and many others. >> > >> > Crossing this threshold has fueled fears that we are fast approaching >> > "tipping points" - melting of the subarctic tundra or thawing and >> > releasing the vast quantities of methane in the Arctic sea bottom - that >> > will accelerate global warming beyond any human capacity to stop it: "I >> > wish it weren't true, but it looks like the world is going to blow >> > through the 400-ppm level without losing a beat," said Scripps Institute >> > geochemist Ralph Keeling, whose father, Charles, set up the first >> > monitoring stations in 1958: "At this pace, we'll hit 450 ppm within a >> > few decades." >> > >> > "It feels like the inevitable march toward disaster," said Maureen E. >> > Raymo, a scientist at the Lamont-Doherty Earth Observatory, a unit of >> > Columbia University.[2] >> > >> > full: >> > >> http://truth-out.org/opinion/item/19872-capitalism-and-the-destruction-of-life-on-earth-six-theses-on-saving-the-humans >> > _______________________________________________ >> > pen-l mailing list >> > [email protected] >> > https://lists.csuchico.edu/mailman/listinfo/pen-l >> > >> > >> > >> > -- >> > Cheers, >> > >> > Tom Walker (Sandwichman) >> > _______________________________________________ >> > pen-l mailing list >> > [email protected] >> > https://lists.csuchico.edu/mailman/listinfo/pen-l >> >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l >> > > > > -- > Cheers, > > Tom Walker (Sandwichman) > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- Facebook: Gar Lipow Twitter: GarLipow Solving the Climate Crisis web page: SolvingTheClimateCrisis.com Grist Blog: http://grist.org/author/gar-lipow/ Online technical reference: http://www.nohairshirts.com
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