Utopia, you are standing in it!

Bumpy road ahead?[image credit: RWE]
Possibly the longest running climate ‘lawfare’ case ever. Sometimes the duration of a case is itself a large part of the desired effect, whatever the outcome. Lawyers win as usual.
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German judges and experts have arrived at the edge of a melting glacier high up in the Peruvian Andes to examine a complaint made by a local farmer who accuses energy giant RWE of threatening his home by contributing to global warming, says Digital Journal.

The visit by the nine-member delegation to the region is the latest stage in a case the plaintiffs hope will set a new worldwide precedent.

Leading the demand for “climate justice” is 41-year-old Peruvian farmer Saul Luciano Lliuya, who lives in the mountains close to the city of Huaraz.

He has filed suit against the German firm RWE, saying its greenhouse gas emissions are responsible for…

With the “Top Gun” sequel firmly (Hah!) set for release on May 27, it occurred to me that I should at least re-familiarize myself with this icon of ’80s “High Concept” cinema. And then it occurred to me that I’ve never actually seen it, start to finish.

I was reviewing films for a newspaper when it came out, and I’m guessing the fellow I shared those duties with drew this assignment. It’s not like I didn’t try to watch it, once or thrice. I’d get 5-20 minutes in while channel surfing, mutter “Why people ever liked this is beyond me” and move on.

“Top Gun” is Reagan Era American jingoism at its glossiest, something worth remembering when watching it. A common criticism of this film of-its-time/at-that-time was that it was a “recruiting film.”

Reagan’s gone, the Navy moved on from the ruinously expensive to maintain,/Achilles Heeled F-14 Tomcat, and Hollywood…

The renewable energy cult reckons “coal is dead”, but the market says otherwise.

Thermal coal prices are off the charts, with record demand driving record prices: Australian thermal coal prices recently hit $US$400 ($548 a tonne), with prices still on the rise.

The crowd that tells us that we’re only a heartbeat away from an all wind and sun powered future have been telling all who care to listen that investing in fossil fuel producers, in particular coal-miners, borders on insanity; with lots of talk about “stranded assets”, the prices of which will plummet, to never recover.

Well, that’s the cult’s mantra, anyway.

Meanwhile, back on Earth, Terence Corcoran explains that, in an energy hungry world, fossil fuel producers are a very safe bet, indeed.

Which energy assets will be stranded?
Financial Post
Terence Corcoran
4 May 2022

Oilprice.com covered the latest energy trends Monday with a report that U.S…

When finance professors publish papers claiming to find inefficiencies in asset markets, my initial reaction is skepticism. The odds are stacked against them to start since asset markets are mostly efficient. Then even if the inefficiency they found is real, shouldn’t they keep that fact to themselves and get rich trading on it?

But listening to a recent interview with Edward Thorp, I realized I shouldn’t entirely discount the possibility that someone would publish a real inefficiency, even a tradeable one. After all, Myron Scholes and Fischer Black did just that when they published the Black-Scholes model in the Journal of Political Economy. This made them famous on Wall Street and in econ/finance academia, and won Scholes the 1997 Nobel Memorial Prize in Economics.

Thorp explained that he had come up with a similar model years earlier, but instead of publishing it, he started a hedge fund and…