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Tag Archives: Regulations and regulators

The Bakken Boom Goes Bust With No Money to Clean up the Mess

Jerri-Lynn Here. I have been riveted to Justin Mikulka’s excellent coverage of fracking’s follies at DeSmogBlog, so I’m happy to post this piece on fracking in the Bakken. The boom has now gone bust and there’s no funding to clean up the damage, leaving the public to pick up the tab. By Justin Mikulka, a freelance writer, audio and video producer living in Trumansburg, NY. Originally published at DeSmog Blog More than a decade ago, fracking took off in the Bakken shale of North Dakota and...

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Trump EPA Poised to Weaken Obama Methane Rule, Despite Possibility of Later CRA Overturn

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The Trump administration is poised to roll back rules on release of methane, a potent greenhouse gas estimated to be 25 more potent than carbon dioxide and which accounts for about 10% of U.S.  greenhouse gas emissions. The weaker Trump rule, expected no later than Friday, would replace a tougher standard set by his predecessor’s EPA, according to the...

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Why International Financial Regulation Still Falls Short

Yves here. Just so you know, this is the William White who along with Claudio Borio, when both were at the BIS, started issuing warnings in 2003 to central bankers about housing bubbles in many national markets. They later formalized it in a paper. They were pooh-poohed, particularly by Alan Greenspan, for the lack of theoretical foundations for their findings. This while he was institutionalizing the Greenspan put. And you wonder why we have trouble coming up with sensible financial...

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Hubert Horan: The Airline Industry Collapse Part 3 – Recovery Expectations Were Always Dreadfully Wrong

Yves here. Hubert Horan shows how the airline industry is in far more serious trouble than the business and financial press has begun to acknowledge. Hubert is a bit too polite in talking about “the industry narrative”. The executives of the US majors are engaged in looting. They are peddling clearly bogus forecasts in order to hold off an inevitable and costly restructuring as long as possible. The motive is to preserve their pay packages and jobs, at the cost of employees and taxpayers and...

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Vaccine Research on Covid-19: An Update

Yves here. Ignacio’s review of some of the key elements of vaccine research, development, and approval will hopefully serve as an important primer for future discussions. Notice that even this basic discussion demonstrates that a full year after Phase III vaccine trials have started is a bare minimum to reach any conclusions about efficacy….yet the media is braying that we might have an idea on Phase III trials starting now by this October. By Ignacio Moreno Echanove, an epidemiologist I...

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Public Health Experts Fear a Hasty FDA Signoff on Vaccine

Yves here. This post confirms that readers who are worried about the too-obvoius signs of corners-cutting in the rush to develop a Covid-19 vaccine have esteemed company. There are at least two bad motivations in play. First, the Trump administration is desperate for a pre-election boost. News in October that a vaccine was approved for rollout would make Mr. Market orgasmic. Many Trump voters are sensitive to the state of their portfolios and would look past his many other sins if their...

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Plastics in Oceans Will Triple By 2040, Absent Immediate Drastic Action

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The Pew Charitable Trust and  Systemiq Ltd., a sustainability consulting firm, have released a new study reporting that plastics in the world’s oceans could triple by 2040. Nearly 13 million metic tons of plastics find their way into oceans every year, or the equivalent of one garbage trunk of such waste is dumped into the sea every minute. Current...

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COVID-19 Mistakes to Avoid: Don’t Conflate Contact Tracing with Contact Tracing By App

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. One depressing aspect of the COVID-19 pandemic is to see two of the usual suspects – Big Tech and Big Pharma – trying to distort what we hear, learn, and understand about the ongoing situation. Each has a dog in the COVID-19 fight and seeks to convince us they have viable approaches that just happen to  maximize their profits, whether it be the...

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Next Showdown in Congress: Protecting Workers vs. Protecting Employers in the Pandemic

By  Christina Jewett and Melissa Bailey of Kaiser Health News. Originally published at Kaiser Health News Congressional leaders are squaring off over the next pandemic relief bill in a debate over whom Congress should step up to protect: front-line workers seeking more safeguards from the ravages of COVID-19 or beleaguered employers seeking relief from lawsuits. Democrats want to enact an emergency standard meant to bolster access to protective gear for health care and other workers and to...

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Wolf Richter: The Great American Shale Oil & Gas Massacre: Bankruptcies, Defaulted Debts, Worthless Shares, Collapsed Prices of Oil & Gas

Jerri-Lynn here. For more detail on the carnage in the oil and gas sector, see also the NY Times front page story I linked to today, Fracking Firms Fail, Rewarding Executives and Raising Climate Fears.  We’ve been tracking this bust in crossposts, and have featured the excellent series at DesmogBlog on fracking’s follies. The day of reckoning has arrived, and Wolf Richter’s post highlights the record number of bankruptcy filings in this banner year. By Wolf Richter, editor of Wolf Street....

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