Obama proposes $10 per barrel oil tax — unlikely to happen

President Obama’s White House has proposed “bold” $10 per barrel tax on imports of oil. “The White House said that the tax would encourage a shift away from an oil-dependent transportation system and provide revenue that it would use to pay for much-needed infrastructure investment.” With a current price of $30-$40/bbl this represents a tax […]

Banking sector continues to struggle

Since it invests in all sectors of the economy, banking is a bell-weather of that economy. It is an indicator of the performance of the system as a whole. Yesterday Credit Suisse shares tumbled to a 24-year low. Globally, the financial sector is the worst performing in the MSCI World index in 2016. Bank shares have […]

Applying Blockchain to the Music Industry

A very interesting article here about how Imogen Heap is applying Blockchain (the technology behind Bitcoin) to the music industry. If it works, it we redefine the industry, changing how we share and pay for music, and who makes how much money from doing so. And it will also transform other industries that involve publishing creative information, such […]

The oil bubble: bursting in slow motion

Bubbles are created when buyers overpay in the hope of finding a ‘greater fool’ to sell to later. This has happened lately in the Chinese stock and property markets. Apartments were built on borrowed money, bought and left empty as prices rose, in the hope they could be offloaded later on to a greater fool before the bubble burst. The same approach was applied in the […]

Food production shocks ‘will happen more often because of extreme weather’

A new report forecasts that shocks to food production (reductions of 5%-7%) will be three times more likely by 2040, because of increases in extreme weather brought about by climate change. As a result, the position of people in developing countries will be “almost untenable” position, with the USA and UK “very much exposed” to […]

Paul Mason argues that capitalism is failing

Journalist Paul Mason, economics editor for Channel 4 News, argues that the neoliberal capitalist model “is broken” — has had its day, is systemically unsustainable — and can be replaced with a new model. His solution? Use technology to reduce the hours of work we all do, and “consign the coercive bullshit that takes place at the precarious end of […]

Only one way to save the oceans

  Some people think we can keep extracting fossil fuels and later use some techno-fix to extract the carbon back out of the atmosphere. Researchers in Germany have found that even if we did that, the fact that the oceans absorb CO2, then transport it to the deep ocean, means that the oceans would stay […]