Category Archives: Transportation

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 Scaramucci effect: what White House havoc means for the world

The Trump administration is now a beacon of dysfunction. Allies, and enemies, are taking note.
By Leslie Vinjamuri – What does this mean for US leadership?

For some, Trump’s heavy-handed, even aggressive unilateralism is a symptom, not a cause, of the country’s relative decline.

According to this view, the country’s investment in liberal internationalism is an outdated strategy predicated on the historical need to counter the Soviet threat. It was designed for a different time, when the US’s military and economic power far surpassed that of any of its European counterparts, even when combined. The country’s retreat from the global stage is long overdue, so the argument goes.

In the absence of a clear national security imperative, foreign interventionism is both bad strategy and bad for the US. Trump’s style may be repugnant – but his America First instincts are not wrong.

But this is shortsighted.

Soft power is crucial to US leadership, more so now than ever before. In an era in which power is diffuse, and problems do not respect national borders, the capacity of any nation to influence others depends on the goodwill of a large number of state and non-state interests. more> https://goo.gl/qhPfM8

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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Updates from GE

Smart Trains And Beyond: GE’s Jamie Miller To Talk Digital Disruption At Tech Confab

By Bruce Watson – Deutsche Bahn Cargo trains crisscross Europe daily carrying everything from coal and steel to cars and cabinets. If a train gets stuck or needs to be taken offline, it can cause problems for the entire system. Now GE digital technology is making the trains smarter and reducing downtime. By tapping sensors embedded on 250 of DB Cargo’s trains, GE will be able to collect several terabytes of data to help keep the trains running efficiently.

Digital transformations like this are the focus of Fortune’s Brainstorm Tech summer retreat this week in Aspen, Colorado. The idea behind Brainstorm is deceptively simple: Gather 600 of the world’s top business leaders, tech entrepreneurs and investors to discuss the tech trends that are poised to transform the world. It’s an opportunity to feed innovation, discuss future trends and — in general — find a way to make disruption a little less disrupting.

Digital disruption isn’t only hitting the tech world. We’re seeing it in industry as well. In manufacturing, for example, digital innovations can lead to a difference of billions of dollars in productivity. more> https://goo.gl/DoqxoN

Why New York Is Just an Average City

By Geoffrey West – The ubiquitous use of per capita indicators for ranking and comparing cities is particularly egregious because it implicitly assumes that the baseline, or null hypothesis, for any urban characteristic is that it scales linearly with population size.

In other words, it presumes that an idealized city is just the linear sum of the activities of all of its citizens, thereby ignoring its most essential feature and the very point of its existence, namely, that it is a collective emergent agglomeration resulting from nonlinear social and organizational interactions.

Cities are quintessentially complex adaptive systems and, as such, are significantly more than just the simple linear sum of their individual components and constituents, whether buildings, roads, people, or money.

There is an approximately 15 percent increase in all socioeconomic activity with every doubling of the population size, which happens almost independently of administrators, politicians, planners, history, geographical location, and culture. more> https://goo.gl/8NZ5Rq

New tech only benefits the elite until the people demand more

BOOK REVIEW

Routes of Power: Energy and Modern America, Author: Christopher Jones.

By Christopher Jones – The United States faces an infrastructure crisis.

Report after report warns that the nation’s networks are old, brittle and vulnerable. Systems that were once the envy of the world now suffer from chronic underfunding and neglect.

If you’ve traveled in western Europe or parts of China recently, you probably noticed the unfavorable comparison between roads and subways in the US and those abroad. A culture enthralled with disruptive innovation has ignored the fundamental importance of maintaining its technological backbones.

Can we make US infrastructure great again? Yes, and clearly financial investment is essential. But that is not all.

Infrastructure is not, and never has been, simply a collection of material objects. The secret of the country’s infrastructure success lies in a forgotten political history: the demands by millions of Americans over time for fairer and more equitable access to rails, pipes, wires, roads and more.

The wondrous US infrastructure achievements happened when citizens participated in infrastructure decisions. One can even propose a rule: the better the democracy, the better the infrastructure.

Citizen engagement, not technical ingenuity, deserves credit for the widespread historical benefits of US infrastructure.

When new systems first appeared, they were frequently celebrated as technical marvels accompanied by parades, ribbon-cuttings and grand speeches. But they never appeared equitably. Indoor plumbing, gas and electricity made the lives of the elite more comfortable, while leaving the vast majority of Americans behind. Whether it was railroads in the 19th century, transmission wires at the turn of the 20th century, or roads in the 20th century, the pattern was the same.

All initially served the already powerful, and often allowed them to increase their control over markets and labor. The first deployments of infrastructure have therefore usually benefited small groups and exacerbated social inequality.

Crucially, people did not simply accept the iniquity. more> https://goo.gl/2cAxL7

Updates from GE

Back To The Future: This Plane Will Make The Jet Set Feel Supersonic Again
By Tomas Kellner – The Concorde, the iconic pointy-nosed supersonic jet that shuttled passengers between Paris, London, New York and other choice destinations, landed for the last time 14 years ago, after 27 years in service. The only civil supersonic airplane to enter service apart from Russia’s TU-144 jet, the plane was never replaced.

“The Concorde was successful from a technical standpoint, but in terms of economics, it was too expensive to operate, its range was limited, it was noisy and its fuel consumption was high,” says Jeff Miller, vice president of marketing at the U.S. aircraft design firm Aerion.

But engineers at Aerion are working to change that. They’ve spent the last 15 years developing AS2, a supersonic jet that could carry up to 12 people in high comfort from London to Seattle, Miller says. “We’ve been focusing on improving efficiency so we can lower the cost of operations and extend the range of the plane so it’s not limited to just barely getting across the Atlantic,” he says. “Now you’ve got an airplane that will really take you places.” more> https://goo.gl/fsVmmR