Economics & Trade

Plunging oil prices could bring the exploration industry to its knees (Stuff Business, 23 Sept 2015) – “Unlike previous sharp movements in the price of oil which matched economic cycles, the current fall appeared to be structural, Westpac economist David Norman said. … Already employment in the industry is in decline in New Zealand, and further cuts are expected. Norman said the 6950 full time equivalents employed in the industry by March 2014 was up from just over 4000 in 2000, however between 2012 and 2014, employment fell 5.5 per cent.”

IEA seas oil glut throught 2015 after reaching 17-year high (Bloomberg, 12 Aug 2015) -“Oil slumped to a six-year low near $40 a barrel in New York Tuesday as OPEC members boost output to defend market share, U.S. production withstands falling prices and concerns grow that China’s economy is becoming less stable. Supply could expand further after Iran reached an agreement with world powers on July 14 that will remove restrictions on its oil sales in return for curbing nuclear development….“Global supply continues to grow at a breakneck pace,” the IEA said. 

Norway to pull $900 billion oil fund out of coal (The Local, 27 May 2015)

Fossil fuels subsidised by $10m a minute, says IMF (Guardian, 18 May 2015) – “‘Shocking’ revelation finds $5.3tn subsidy estimate for 2015 is greater than the total health spending of all the world’s governments…”

Ocean wealth valued at $25 trillion, but sinking fast (WWF Global, 23 April 2015) – “The ocean rivals the wealth of the world’s richest countries, but it is being allowed to sink to the depths of a failed economy,” said Marco Lambertini, Director General of WWF International. “As responsible shareholders, we cannot seriously expect to keep recklessly extracting the ocean’s valuable assets without investing in its future.”    Download the WWF report “Reviving The Ocean Economy – The Case for Action – 2015” (47MB pdf) or its Summary (15MB)

Global Wind Energy Council and Greenpeace, Oct 2014. Global Wind Energy Outlook 2014.

The Global Commission for the Economy and Climate, 2014. Better Growth Better Climate: The New Climate Economy Report. – Published in time for the UN Climate Summit (NY, 21 Sept 2014), the report proposes a 10 point global action plan which is quite useful BUT is based on the false premise that “economic growth” can continue despite earth’s finite resources. It emphasizes on urban growth but appears to ignore social justice issues.

Turner, Graham, 2014. Is Global Collapse Imminent? MSSI Research Paper No.4, Melborne Sustainable Society Institute, The University of Melborne. See also its write up Limits to Growth was right. New research shows we’re nearing collapse (Guardian, 2 Sept 2014).

Businesses that ignore natural capital could lose out: report  (Bloomberg, 29 May 2014) – An interesting article, but beware of the examples given on Coca Cola and Dow Chemical.

Write-down of two-thirds of US shale oil explodes fracking myth  (Guardian, 22 May 2014) Geoscientist David Hughes, who worked for the Geological Survey of Canada for 32 years, said: “The oil had always been a statistical fantasy. Left out of all the hoopla was the fact that the EIA’s estimate was little more than a back-of-the-envelope calculation.”

Is the U.S. shale boom going bust?  (Bloomberg, 22 April 2014)

NZ Medical Association, 2014. Pharmaceutical industry behaviour and the Trans Pacific Partnership Agreement

Royal Society of New Zealand, 2014.  Facing the Future: Towards a Green Economy

Monks, Matthew, Rebecca Penty  Gerrit de Vynck, 2013. Shale grab in U.S. stalls as falling values repel buyers. Bloomberg 19 August, 2013.

WWF, 2013. Fossil fuel finance in New Zealand. Part 1: Government support.

Greenpeace, 2013. The Future is Here: New jobs, new prosperity and a new clean economy.

Stockholm Environment Institute, 2012. Valuing the Ocean Environment: Economic perspectives

Stern Review: Economics of Climate Change“The benefits of strong, early action on climate change outweigh the costs”

The Garnaut Review 2011: Australia and the Global Response to Climate Change

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