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Busting ethanol market bad news for investors

The U.S. ethanol boom has been brought up short by market glut, making corn-based fuel “2007’s worst energy investment,” a Bloomberg News Service article declared today. President Bush made ethanol a centerpiece of his energy plan and lavished it with subsidies; ethanol distilleries that went up quickly in anticipation are now having to shut down. […]

On organic Christmas trees

Dear Umbra, Is there such a thing as an organic Christmas tree? How chemical-intensive is conventional Christmas-tree farming? If I want a Christmas tree, what’s the most eco-friendly way to go? Your fan, Lisa Seattle, Wash. Dearest Lisa, Since you are not only a fan but also my senior editor, who told me you are […]

Pro-business vs. pro-market

Much of the debate around the big issues of our day -- from energy to healthcare -- hinges on whether one is "pro-market" or "pro-government," with Cato and the Wall Street Journal op-ed page lining up on one side and any number of PIRGs on the other.

Unfortunately, neither side appears to understand the pro-market position. Herewith, my attempt to add a bit more rigor to the debate.

So what does a market look like? At the most basic level, a market is defined by its characteristics. There are various definitions out there, but they all come down to the same basic tests:

1. No barriers to entry
2. No barriers to exit
3. Price transparency (e.g., prices reflect costs)
4. No participants can independently affect price

Meet these tests and Adam Smith's magic starts to work, whereby the self-interest of each participant leads to social benefit for all in the form of better products and services, at lower prices. Why? Because life in a perfect market sucks! If you're running a firm in a market as defined above, you don't sleep well at night. New entrants keep cropping up. If you can't stay competitive, you're going to lose your money. Tiny changes in raw material costs have big impacts on your profits, which you are completely powerless to change. This causes you to do two things:

Wherein I joke about John Edwards’ hair

CNN did a short segment on our presidential climate forum and the difficulty of raising the issue’s political profile. It’s actually a fairly astute piece. I appear toward the end.

Latest IPCC climate report comes out strong, lays groundwork for Bali talks

“Warming of the climate system is unequivocal,” warned the Nobel Prize-winning Intergovernmental Panel on Climate Change in its hardest-hitting report yet, released on Saturday. Delegates from more than 140 countries came to agreement on the document, which summarizes three previous reports and warns of the grave dangers posed by climate change. The new report is […]

Coverage of Grist’s presidential climate forum

Here’s a quick roundup of coverage of Grist’s presidential climate forum. If you see other stories, leave them in comments. From MSM: CNN: “Climate Change Politics“ AP: "Edwards, Clinton aim at climate change" The New York Times: “Democrats Outline Plans to Improve Environment“ L.A. Times: “Democratic candidates buff green credentials“ ABC News: "Candidates Talk Climate […]

Japanese whaling fleet to hunt up to 1,035 whales, including 50 humpbacks

Japan’s oft-criticized “scientific” whaling fleet will be extra busy this season as it aims to land up to 1,035 whales in what could be the country’s largest whale hunt in modern times. Included in the toll: up to 50 humpback whales, the first time they’ve been targeted in some 40 years. Humpback whales numbered only […]

A gift guide for eco-minded shoppers headed to big-box stores

More Advice Looking for more holiday gift ideas? Check out our past gift guides: Gifts Recommended by Grist Staff and Readers Even More Gifts Recommended by Readers Gifts for Young Folk Gifts for Every Stereotype on Your List When it comes to gift-giving this holiday season, ‘twould be best to give nothing at all but […]

Reflections on Grist’s presidential forum on climate change

On Saturday, presidential candidates Dennis Kucinich, John Edwards, and Hillary Clinton gathered in L.A. to discuss climate and energy at a forum co-sponsored by Grist and PRI’s Living on Earth. The forum was moderated by Steve Curwood of LoE, with Mary Nichols of the California Air Resources Board and me providing questions. Despite a delay […]

Contents of the IPCC Sythesis Report Summary for Policymakers

For those not familiar with it, the Intergovernmental Panel on Climate Change was set up in 1988 to write periodic assessments of the state of climate science. Its goal is to produce policy-neutral reports that inform policymakers about the best thinking of the scientific community. These reports have tremendous impact on the debate, owing to the credibility of the IPCC process.

The IPCC is actually split into three working groups. Working group 1 focuses on basic climate science, working group 2 focuses on the impacts of climate change and human adaptation to it, and working group 3 focuses on mitigation efforts (efforts to reduce carbon dioxide emissions). In 2007, as part of the IPCC's fourth assessment report, each of the three working groups issued a report (e.g., see here for a discussion of the working group 1 report).

Now comes the final part of the fourth assessment report: the synthesis report. This report ties together the three working group reports in an effort to create a single unified picture of what we know about climate change.