South Australia’s Wind Power Crisis Continues: Gas Generators Forced to Fire Up to Prevent Another Statewide Blackout

stopthesethings's avatarSTOP THESE THINGS

Energy Australia’s OCGT’s at Hallett: being paid to burn gas for nothing.

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South Australians wake up to a nightmare every day. Its hapless Labor government’s obsession with wind power has destroyed the reliability of its electricity grid and sent power prices through the roof. Here’s why.

SA power: Gas generators ordered on as South Australia’s wind production peaked
ABC News
Nick Harmsen
26 April 2017

The Australian Energy Market Operator (AEMO) was forced to intervene in South Australia’s electricity market on Anzac Day to guarantee security of the grid as the state recorded record levels of wind energy production.

Wind power peaked at a new high of 1,540 megawatts close to midnight on Tuesday, more than meeting the state’s public holiday electricity demand.

The wind production was so high that earlier in the day AEMO took steps to ensure two gas generators remained on.

“A combination of high wind…

View original post 899 more words

What is happening to the New Zealand gender pay gap?

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nz gender gap by percentile

Source:  Statistics New Zealand Measuring the gender pay gap.

Source:  Statistics New Zealand Effect of motherhood on pay – summary of results.

Rimmer in Red Dwarf – Polymorph reminds me of @JeremyCorbyn

Taking The Economist to Task for Unfounded Climate Catastrophe Fearmongering

climatewise101's avatarFriends of Science Calgary

Contributed by Dr. John D. Harper, FGSA,FGAC, PGeol., former director of the Geological Survey of Canada © May 2017

I have recently been asked to comment on three articles published in The Economist. My background for such a response is as a Professor of Petroleum Geology and Sedimentology (ret.), a former Director-Energy for the Geological Survey of Canada, a former researcher in industry, and as an academic researcher on sea level changes and climate documentation through geologic time, Natural Resources of the Future and a couple of decades of studies in the Arctic.

1) Skating on thin ice: The thawing Arctic threatens an environmental catastrophe. Apr 27, 2017

2) The Arctic as it is known today is almost certainly gone. April 29, 2017

3) Thaw point: As the Arctic melts the world’s weather suffers. April 29, 2017

Before I reply I wish to state that the calibre of the articles would not…

View original post 1,641 more words

When Stallone hit rock bottom before Rocky

Parents of 16 year old accept prison is where their son must be

Speculations on the stabilization and dissemination of the “DSGE” trade name (in progress)

Beatrice's avatarThe Undercover Historian

Some research I’ve done for the history of macroeconometric modeling conference that will be held in Utrecht next week led me to wonder who coined and disseminated the  term “Dynamic Stochastic General Equilibrium.” Not the class of models, whose development since Lucas and Prescott’s 1971 paper has been the topic of tons of surveys.  Fellow historian Pedro Duarte has a historical meta-survey of the flow of literature in  which macroeconomists have commented on the state of macro and shaped the idea of a consensus during the 1990s and 2000s. Neither am I hunting for the many competing words used to designate the cluster of models born from the foundational papers by Robert Lucas or Finn Kydland and Ed Prescott, from Real Business Cycle to Dynamic General Equilibrium to stochastic models. What I want to get at is how the exact DSGE wording stabilized. Here is the result…

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Focus group sums up @JeremyCorbyn

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Penn Jillette on Islam

Simply brilliant

Who Really Pays Business Taxes?

historical status updates

Some Reality About Renewable Energy

The Elephant's Child's avatarAmerican Elephants

Marches for climate, marches for science. The interesting thing is that the marchers can’t be bothered with studying up on the subject, but just go by what they read on Facebook or what the celebrities have to say. They call for “renewable” energy without much idea of what renewable energy is. The most  renewable is of course hydropower, but then they object to dams in the rivers, not so much for spawning fish, but because of a romantic ideal of wild rivers.

Wind energy, they believe is renewable, because the wind is free. The wind may be free, but those huge turbines cost an arm and a leg. Not only that, but wind comes with incurable intermittency. Wind simply does not blow steadily. According to Robert Bryce’s Smaller, Faster, Lighter, Denser, Cheaper, wind energy has a power density of 1 watt per square meter.

Wind turbines have a deleterious effect…

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In the French Presidential Election, Voters Should Pick the Socialist over the Socialist

Dan Mitchell's avatarInternational Liberty

A couple of weeks ago, I reviewed the four major candidates running in the French presidential election and expressed general pessimism.

This Sunday, Emmanuel Macron and Marine Le Pen will face each other in the runoff election.

That’s a rather depressing choice. Macron is a former official in the disastrous big-government Hollande Administration and Le Pen is a big-government nativist who wants to preserve the welfare state (though not for immigrants).

Like choosing between Tweedledee and Tweedledum.

Not encouraging since the country needs a Ronald Reagan or Margaret Thatcher.

A column in the Wall Street Journal explains France’s untenable position.

The deeper question is whether French voters accommodate themselves to reality or cling tighter to their economic illusions. …“The French try to erase historical experience,” Pascal Bruckner tells me. The literary journalist is one of a very few classical liberals among French public intellectuals. He says his compatriots “have…

View original post 1,463 more words

Basic Income: Better Than Welfare?

Why is the Swedish gender wage gap so stubbornly stable (and high)?

The Swedes are supposed to be in a left-wing utopia. Welfare state, ample childcare and long maternity leave but their gender wage gap is almost as bad as in 1980. They must be a misogynist throwback.

swedish gender wage gap by percentile

Maybe Megan McArdle can explain:

There are countries where more women work than they do here, because of all the mandated leave policies and subsidized childcare — but the U.S. puts more women into management than a place like Sweden, where women work mostly for the government, while the private sector is majority-male.

A Scandinavian acquaintance describes the Nordic policy as paying women to leave the home so they can take care of other peoples’ aged parents and children. This description is not entirely fair, but it’s not entirely unfair, either; a lot of the government jobs involve coordinating social services that women used to provide as homemakers.

The Swedes pay women not to pursue careers. The subsidies from government from mixing motherhood  and work are high. Albrecht et al., (2003) hypothesized that the generous parental leave a major in the glass ceiling in Sweden based on statistical discrimination:

Employers understand that the Swedish parental leave system gives women a strong incentive to participate in the labour force but also encourages them to take long periods of parental leave and to be less flexible with respect to hours once they return to work. Extended absence and lack of flexibility are particularly costly for employers when employees hold top jobs. Employers therefore place relatively few women in fast-track career positions.

Women, even those who would otherwise be strongly career-oriented, understand that their promotion possibilities are limited by employer beliefs and respond rationally by opting for more family-friendly career paths and by fully utilizing their parental leave benefits. The equilibrium is thus one of self-confirming beliefs.

Women may “choose” family-friendly jobs, but choice reflects both preferences and constraints. Our argument is that what is different about Sweden (and the other Scandinavian countries) is the constraints that women face and that these constraints – in the form of employer expectations – are driven in part by the generosity of the parental leave system

Most countries have less generous family subsidies so Claudia Goldin’s usual explanation applies to their falling gender wage gaps

Quite simply the gap exists because hours of work in many occupations are worth more when given at particular moments and when the hours are more continuous. That is, in many occupations earnings have a nonlinear relationship with respect to hours. A flexible schedule comes at a high price, particularly in the corporate, finance and legal worlds.

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