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As the price of oil falls, bestselling author and economist Jeff Rubin takes us to the epicentre of the bursting global carbon bubble, and dares us to imagine a new engine for growth that does not run on oil. For a decade, the vision of Canada's future as an energy superpower has driven the country's political agenda, as well as the fast-paced development of Alberta's oil sands and the push for more pipelines like Keystone XL across the continent to bring that bitumen to market. Anyone who objects to pipelines and tanker-train traffic, north or south of the US border, is labeled a dreamer, or worse—an environmentalist: someone who puts the health of the planet ahead of the economic survival of their neighbours. In The Carbon Bubble, Jeff Rubin compellingly shows how an economic vision that rests on oil is dead wrong. Changes in energy markets in the US—where domestic production is booming while demand for oil is shrinking—are quickly turning the oil dream into an economic nightmare. Like U.S. coal stocks, the share values of oil-sands producers have been drastically reduced by falling fuel prices and are increasingly exposed to the world's efforts to reduce carbon emissions. Rubin argues that there is a lifeline to a better future. The very climate change that will leave much of the country's carbon unburnable could at the same time make some of Canada's other resource assets more valuable: its water and its land. In tomorrow's economy, he argues, Canada won't be an energy superpower, but it has the makings of one of the world's great breadbaskets, as everything from the corn belt to viniculture heads to higher latitudes. And in the global climate that the world's carbon emissions are inexorably creating, growing food will soon be a lot more valuable than mining bitumen.
NATIONAL BESTSELLER A Globe and Mail Favourite Book of 2020 From the #1 bestselling author of Why Your World Is About to Get a Whole Lot Smaller, a provocative, far-reaching account of how the middle class got stuck with the bill for globalization, and how the blowback—from Brexit to Trump to populist Europe—will change the developed world. Real wages in North America have not risen since the 1970s. Union membership has collapsed. Full-time employment is beginning to look like a quaint idea from the distant past. If it seems that the middle class is in retreat around the developed world, it is. Former CIBC World Markets Chief Economist Jeff Rubin argues that all this was foreseeable back when Canada, the United States and Mexico first started talking free trade. Growing global inequality is a problem of our own making, he says. And solving it won't be easy if we draw on the same ideas about capital and labour, right and left, that led us to this cliff. Articulating a vision that dovetails with the ideas of both Naomi Klein and Donald Trump, The Expendables is an exhilaratingly fresh perspective that is at once humane and irascible, fearless and rigorous, and most importantly, timely. GDP is growing, the stock market is up and unemployment is down, but the surprise of the book is that even the good news is good for only one percent of us.
New York Times–Bestselling Author: The renowned economic theorist explains how America can—and must—create a post-fossil fuel culture to survive. We can’t keep doing business as usual. Facing a global emergency, a younger generation has spearheaded a national conversation around a Green New Deal—a movement with the potential to revolutionize society. But while the Green New Deal has become a lightning rod in the political sphere, there is a parallel movement emerging within the business community that will shake the very foundation of the global economy in coming years. Key sectors of the economy are fast-decoupling from fossil fuels in favor of ever-cheaper solar and wind energies and the new business opportunities and employment that accompany them. New studies are sounding the alarm that trillions of dollars in stranded fossil fuel assets could create a carbon bubble likely to burst by 2028, causing the collapse of the fossil fuel civilization. The marketplace is speaking, and governments will need to adapt if they are to survive and prosper. In The Green New Deal, Jeremy Rifkin delivers the political narrative and economic plan for the Green New Deal that we need at this critical moment in history. The concurrence of a stranded fossil fuel assets bubble and a green political vision opens up the possibility of a massive shift to a post-carbon ecological era, in time to prevent a temperature rise that will tip us over the edge into runaway climate change. With twenty-five years of experience implementing Green New Deal–style transitions for both the European Union and the People’s Republic of China, Rifkin offers his vision for how to transform the global economy and save life on Earth. “The Green New Deal takes a stance quite different from that of typical Green New Deal supporters . . . he’s interested in building factories, farms, and vehicles in a fossil-free world, asserting that ‘the Green New Deal is all about infrastructure.’” —The New York Times Book Review “An urgent endorsement of efforts to remake a doomed fossil-fuel economy before it’s too late.” —Kirkus Reviews
The Burning Question reveals climate change to be the most fascinating scientific, political and social puzzle in history. It shows that carbon emissions are still accelerating upwards, following an exponential curve that goes back centuries. One reason is that saving energy is like squeezing a balloon: reductions in one place lead to increases elsewhere. Another reason is that clean energy sources don't in themselves slow the rate of fossil fuel extraction. Tackling global warming will mean persuading the world to abandon oil, coal and gas reserves worth many trillions of dollars — at least until we have the means to put carbon back in the ground. The burning question is whether that can be done. What mix of politics, psychology, economics and technology might be required? Are the energy companies massively overvalued, and how will carbon-cuts affect the global economy? Will we wake up to the threat in time? And who can do what to make it all happen? Published in Partnership with the David Suzuki Institute.
This paper updates estimates of fossil fuel subsidies, defined as fuel consumption times the gap between existing and efficient prices (i.e., prices warranted by supply costs, environmental costs, and revenue considerations), for 191 countries. Globally, subsidies remained large at $4.7 trillion (6.3 percent of global GDP) in 2015 and are projected at $5.2 trillion (6.5 percent of GDP) in 2017. The largest subsidizers in 2015 were China ($1.4 trillion), United States ($649 billion), Russia ($551 billion), European Union ($289 billion), and India ($209 billion). About three quarters of global subsidies are due to domestic factors—energy pricing reform thus remains largely in countries’ own national interest—while coal and petroleum together account for 85 percent of global subsidies. Efficient fossil fuel pricing in 2015 would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP.
Relying on primary sources dating back to the 1970s, describes how Exxon conducted cutting-edge climate research and then, without revealing what it had learned, worked at the forefront of climate-change denial, manufacturing doubt about the scientific consensus that its own research had confirmed.--Adapted from publisher's description.
The Acoustic Bubble describes the interaction of acoustic fields with bubbles in liquid. The book consists of five chapters. Chapter 1 provides a basic introduction to acoustics, including some of the more esoteric phenomena that can be seen when high-frequency high-intensity underwater sound is employed. Chapter 2 discusses the nucleation of cavitation and basic fluid dynamics, while Chapter 3 draws together the acoustics and bubble dynamics to discuss the free oscillation of a bubble and acoustic emissions from such activity. The acoustic probes that are often applied to study the behavior of a bubble when an externally-applied acoustic field drives it into oscillation is deliberated in Chapter 4. The last chapter outlines a variety of effects associated with acoustically-induced bubble activity. The bubble detection, sonoluminescence, sonochemistry, and pulse enhancement are also covered. This publication is a good reference for physics and engineering students and researchers intending to acquire knowledge of the acoustic interactions of acoustic fields with bubbles.
Drawing on the work of leading researchers and practitioners from a range of disciplines, including economic geography, economics, economic history, finance, law, and public policy, this edited collection provides a comprehensive assessment of stranded assets and the environment, covering the fundamental issues and debates, including climate change and societal responses to environmental change, as well as its origins and theoretical basis. The volume provides much needed clarity as the discourse on stranded assets gathers further momentum. In addition to drawing on scholarly contributions, there are chapters from practitioners and analysts to provide a range of critical perspectives. While chapters have been written as important standalone contributions, the book is intended to systematically take the reader through the key dimensions of stranded assets as a topic of research inquiry and practice. The work adopts a broad based social science perspective for setting out what stranded assets are, why they are relevant, and how they might inform the decision-making of firms, investors, policymakers, and regulators. The topic of stranded assets is inherently multi-disciplinary, cross-sectoral, and multi-jurisdictional and the volume reflects this diversity. This book will be of great relevance to scholars, practitioners and policymakers with an interest in include economics, business and development studies, climate policy and environmental studies in general.
About the Book: Land use climate bubbles are popping up throughout the nation at an alarming rate, creating an economic crisis that will be more damaging than that of the housing bubble of 2008. The costs to ecosystems and low- and moderate-income households are equally severe. These bubbles, where land and building values are declining, provide extensive, objective evidence that climate change is real and must be dealt with on the ground. And it sidelines the ideological battles over the political response and instead requires us to focus on the practical question: what can we do to respond? Climate action seeks to avoid the harm we can't manage and to manage the harm we can't avoid. Local leaders understand the urgency of the crisis and are highly motivated to learn how to prevent and mitigate its consequences. This book describes how the local land use legal system can leverage state and local assistance to reduce per capita carbon emissions as an important and now recognized component of global efforts to manage climate change. The tools and techniques presented in the book are available to the nation's 40,000 local governments, if led by courageous leaders choosing to succeed in this epic battle. About the Author: John R. Nolon is Distinguished Professor of Law at the Elisabeth Haub School of Law at Pace University where he teaches property, land use, dispute resolution, and sustainable development law courses and is Counsel to the Law School's Land Use Law Center which he founded in 1993. He served as Adjunct Professor of land use law and policy at the Yale School of Forestry and Environmental Studies from 2001-2016.