Taking a holiday break--no post this week

I am taking a break for the Independence Day holiday weekend. I expect to post again on Sunday, July 10.

Comments

Post a Comment

Popular posts from this blog

Australia's drought, climate change and the future of food

There's a reason that few people are thinking about world grain supplies. Last year saw record worldwide production of grains and record stocks of grains left over. But this year worldwide production slipped about 2 percent, owing in large part to the plunge in Australia's production caused by an ongoing severe drought. Production is expected to fall 23 percent. Fortunately, in our globalized grain markets, this hasn't affected overall supplies or prices very much as grain stocks are high and supplies are mobile and shipped all over the world as needed. But Australia is the world's fifth largest wheat exporter, accounting for nearly 9 percent of the total in 2016 according to the Food and Agriculture Organization of the United Nations . In fact, the top five wheat exporting countries account for 56 percent of world wheat exports. The rest of the world is highly dependent on these exporters to make up the difference between what they grow and what they eat. ...
Read more

Shale oil becomes shale fail (and a nice subsidy for consumers)

I'm tempted to say the following to the writers of two recent pieces ( here and here ) outlining the continuing negative free cash flow of companies fracking for oil in America: "Tell me something I don't already know." But apparently their message (which has been true for years) needs to be repeated. This is because investors can't seem to understand the significance of what those two pieces make abundantly clear: The shale oil industry in the United States is using investor money to subsidize oil consumers and to line the pockets of top management with no long-term plan to build value. There is no other conclusion to draw from the fact that free cash flow continues to be wildly negative for those companies most deeply dependent on U.S. shale oil deposits. For those to whom "free cash flow" is a new term, let me explain: It is operating cash flow (that is, cash generated from operations meaning the sale of oil and related products) minus capital expend...
Read more

The risks of synthetic biology in the information society

Knowledge is power. The instructions for making viruses from synthetic strands of DNA are on the internet. And, the strands themselves are available for purchase online. It's called synthetic biology. Right now it's not easy to get the strands you need to make dangerous viruses or to put them together. But it is becoming easier. That's the issue that exploded concerning the synthetic construction of an thought-to-be extinct horsepox virus . The problem is that the instructions for making horsepox are distressingly useful for constructing a smallpox virus, a virus responsible for hundreds of millions of deaths in the 20th century alone until its eradication. Smallpox, you'll recall, was eradicated through a successful worldwide effort led by the World Health Organization. After 1980 it was no longer necessary to vaccinate people against the disease and very few people alive today have been vaccinated against it. Not surprisingly, an outbreak resulting from, say, the ina...
Read more