Category Archives: Energy & emissions

Updates from GE

Strange Cargo: How Do You Move An 8 Million-Pound Heat-Recovery Steam Generator Down The Hudson? Swimmingly.
By Amy Kover – The journey — the first of its kind for such a machine — began in 2015, when the New Jersey-based power company PSEG ordered GE’s latest HA-class gas turbine and other equipment for a new combined-cycle power plant in Sewaren, an industrial town tucked away behind New York City’s Staten Island.

The machines included a heat-recovery steam generator, or HRSG in power-industry parlance. It recovers waste heat from the gas turbine and turns it into steam that powers a steam turbine to generate more electricity, making the power station more efficient.

GE typically arranges to have all the parts delivered to the power plant for on-site construction. However, as the project began to unfold, it became clear that building the steam generator, which is much larger than the turbines, in New Jersey was going to be a challenge. The site happens to be located in one of the country’s most densely developed areas.

To overcome this challenge, PSEG decided to build the 4,000-ton HRSG in upstate New York and ship it to New Jersey in one piece. GE worked closely with PSEG and construction firm Megrant to crack this logistical riddle. more> https://goo.gl/u8Y2mi

David Brooks Is Mistaken: The Economy Is Broken

By Steve Denning – Brooks concludes blithely that “the market is working more or less as it’s supposed to.” It is therefore wrong to conclude that the U.S. economy has “structural flaws.” That is “a story that is fundamentally untrue.”

The difficulty with the argument, as Brooks well knows, is that one or two good years don’t make an era. Two years of income growth don’t undo the trauma flowing from 50 years of wage stagnation, much less lead to the conclusion that there are “no structural flaws” in the economy.

The brute fact remains that median salaries have stagnated for some 50 years. That’s the real problem of the U.S. economy that economists ought to be talking about.

When moderates deny the obvious, the disaffected inevitably turn elsewhere.

If moderates want to be listened to, they will need to take a harder look at what is going on, come up with coherent explanations for what has gone wrong, and offer plausible remedial action. more> https://goo.gl/zuoJbQ

updates from GE

How I Remade GE
By Jeffrey R. Immelt – I led a team of 300,000 people for 6,000 days. I led through recessions, bubbles, and geopolitical risk. I saw at least three “black swan” events. New competitors emerged, business models changed, and we ushered in an entirely new way to invest. But we didn’t just persevere; we transformed the company. GE is well positioned to win in the future.

The changes that took in the world from 2001, when I assumed the company’s leadership, to 2017 are too numerous to mention. The task of the CEO has never been as difficult as it is today. In that vein, my story is one of progress versus perfection. The outcomes of my decisions will play out over decades, but we never feared taking big steps to create long-term value.

For the past 16 years GE has been undergoing the most consequential makeover in its history. We were a classic conglomerate. Now people are calling us a 125-year-old start-up—we’re a digital industrial company that’s defining the future of the internet of things. Change is in our DNA: We compete in today’s world to solve tomorrow’s challenges. We have endured because we have the determination to shape our own future. Although we’re still on the journey, we’ve made great strides in revamping our strategy, portfolio, global footprint, workforce, and culture. more> https://goo.gl/L9nX1b

These 5 Countries Are Killing It in the Battle Against Climate Change

By Raya Bidshahri – When it comes to climate change, government leaders and politicians must begin to think beyond their term limits and lifetimes. They must ask themselves not how they can serve their voters, but rather how they can contribute to our species’ progress. They must think beyond the short term economic benefits of fossil fuels, and consider the long term costs to our planet.

Climate change is considered one of the greatest threats to our species. If current trends continue, we can expect an increase in frequency of extreme weather events like floods, droughts and heat waves. All of these pose a threat to crops, biodiversity, freshwater supplies and above all, human life.

Here are examples of a few countries leading the way.

Denmark: Considered the most climate-friendly country in the world, Denmark is on the path to be completely independent of fossil fuels by 2050.

China: Home to the world’s biggest solar farm, China is the world’s biggest investor in domestic solar energy and is also expanding its investments in renewable energies overseas.

France: Thanks to the production of nuclear energy, representing 80 percent of nationwide energy production, France has already reduced its greenhouse gas emissions.

India: The nation is on the path to becoming the third-largest solar market in the world. Solar power has become cheaper than coal in India.

Sweden: Sweden has passed a law that obliges the government to cut all greenhouse emissions by 2045. With more than half of its energy coming from renewable sources and a very successful recycling program, the country leads many initiatives on climate change. more> https://goo.gl/PPrn3b

Away from Oil: A New Approach

By Basil Oberholzer – Two main problems arise from the connections between monetary policy, financial markets and the oil market: the first is financial and economic instability caused by oil price volatility. The second is an environmental problem: a lower oil price inevitably means more oil consumption. This is a threat to the world climate.

Is there a joint answer to these problems? There is. While hitherto existing policy propositions like futures market regulation or a tax on fossil energy face some advantages and disadvantages, they are not able to deal with both the economic instability and the environmental problem at the same time. What is proposed here is a combination of monetary and fiscal policy. Let’s call it the oil price targeting system.

First, to achieve economic stability in the oil market, a stable oil price is needed. Second, to reduce oil consumption, the oil price should be increasing. So, let us imagine that the oil price moves on a stable and continuously rising path in order to fulfill both conditions. To implement this, the oil price has to be determined exogenously. Due to price exogeneity, speculative attacks cannot have any influence on the price and bubbles cannot emerge anymore. The oil price target can be realized by monetary policy by means of purchases and sales of oil futures. Since the central bank has unlimited power to exert demand in the market, it can basically move the oil price wherever it wants. more> https://goo.gl/eUh85j

Updates from GE

Three Reasons Why You Should Invest In Smart Cities Now
By Gary Shapiro – Smart cities are the urban landscapes of the future. Powered by the ubiquitous connectivity of the Internet of Things (IoT), smart cities collect data on a variety of factors – from pollution to traffic – and employ that data to make cities safer and more sustainable.

By 2050, the majority of the world will be living in cities – now is the time to lay the groundwork for smart building and infrastructure.

City rules shape how energy is used and how buildings are designed. As digital infrastructure evolves, the rules that govern it will become only more complex.

It’s no secret that drawing the best and brightest to a company isn’t just a matter of compensation. The workers who will add the most value over the longer term want to live and work in places that offer them affordable, sustainable housing, timely and safe transportation and a clean and pleasant atmosphere. more> https://goo.gl/AkbCZE

The Battle for the Judiciary

By Joseph P. Williams – Besides depriving the president Obama of an opportunity to shape the lower courts, Senate Majority Leader Mitch McConnell‘s gambit denied Obama his right to create, among other things, a left-leaning feeder system for future Supreme Court nominees. The blockade seemed to pay big dividends: When President Donald Trump won the White House, he inherited more than 100 judicial vacancies McConnell forced Obama to leave behind.

The GOP’s well-laid plans to move the federal courts to the right, however, has been ambushed by the Democrats’ counterattack.

Using the political equivalent of guerrilla warfare – insisting on following arcane legislative rules, withholding approval of home-state nominees and generally throwing sand in the Senate machinery – the minority party has ground Republicans’ judicial agenda to a halt.

Those tactics have kept Trump and his Senate allies from addressing a judicial system with so many vacancies that legal experts on both sides have called it a crisis.

Nan Aron says she believes the debate over healthcare – and the fact that some Republican senators allied with Democrats to fight off the GOP’s attempts to repeal a popular government program – could become a watershed moment in the fight over Trump’s nominees.

“It’s important to note that the political winds are shifting,” Caroline Fredrickson says. “That, with Trump’s poll numbers continuing to decline, greater numbers of individuals will want the courts to stand as a check on his excesses. The more people come to understand what courts and judges do, we believe, the more they will begin to weigh in on judgeships” and pressure Republicans. more> https://goo.gl/JTRoqY

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Updates from GE

CEO Transition: How Jeff Immelt Reinvented GE
By Dorothy Pomerantz & Matthew Van Dusen – It started with a simple conversation in 2009. GE Chairman and CEO Jeff Immelt was at the company’s Global Research headquarters in Niskayuna, New York, chatting with scientists about embedding sensors in jet engines. When jet engines run, they don’t only power planes — they generate trillions of bytes of data that can provide an enormously valuable window into their inner workings. The insights could allow GE to optimize the machines’ operations and even lead to better engines in the future. But what was the company doing with that data?

Soon after that fateful conversation, Immelt set GE on a path to becoming a new kind of enterprise: a digital industrial company that could unlock productivity from connected machines.

The company Immelt is handing over to his successor, John Flannery, is greatly changed from the one he inherited. Immelt transformed the company by spinning off its real estate, financial services and media divisions, including its stake in NBCUniversal, for tens of billions of dollars.

The moves stabilized GE after the 2008 financial crisis. Immelt then strengthened the core of GE by focusing on power infrastructure, buying the energy assets of the leading power company Alstom in 2015 and merging GE Oil & Gas with Baker Hughes in 2016 to create the world’s largest energy services business. “His enduring legacy is the portfolio transformation,” John Rice says.

Under Immelt, GE also took stands on issues that were important to customers. The company’s Ecomagination initiative helped moved the environment to the top of the corporate agenda. more> https://goo.gl/kdzfHM

Updates from Georgia Tech

Smart Cities
By T.J. Becker – Cities have been around for thousands of years, so urbanization is hardly a new phenomenon — but it’s happening now at an unprecedented pace.

In 1950 about 30 percent of the world’s population lived in cities, a number that shot up to nearly 55 percent by 2016 and is expected to hit 60 percent by 2030, according to United Nations statistics. This dramatic growth brings challenges on a variety of fronts, transforming “smart cities” from a catchy phrase into a critical endeavor.

“Smart cities is a highly complex area, encompassing everything from resiliency and environmental sustainability to wellness and quality of life,” said Elizabeth Mynatt, executive director of Georgia Tech’s Institute for People and Technology (IPaT) and distinguished professor in the College of Computing, who is co-chairing the new council. “Although Georgia Tech has been working in this area for some time, we’re organizing research so we can be more holistic and have combined impact.”

“Instead of discrete projects, we’re moving into a programmatic approach,” agreed Jennifer Clark, associate professor of public policy and director of Georgia Tech’s Center for Urban Innovation. “Smart cities research touches on everything from computing and engineering to the social sciences. It’s a different way of thinking about technology — not just in the private sector but also the public sector — so we make cities more efficient and economically competitive places.” more> https://goo.gl/DtKr9K

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