Early Headlines: Would Keystone End Up With Nothing to Transport?, Arctic Nations Address Methane Emissions, Iran Housing Bubble and More

Early Bird Headlines 25 April 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.

Global

• Arctic Council adopts framework to reduce ‘black carbon,’ methane (Al Jazeera) Short-lived emissions have greater near-term warming impact than CO2; may cause Arctic melt, rise in global sea levels.

U.S.

• The Economic Argument Against Keystone XL (Washington Monthly) The pipeline yields a one-time benefit of $3.4 billion during construction and recurring annual benefit of $60 million after that. This article uses the most conservative environmental cost of burning the oil transported and come up with an annual cost of $6 billion. This is a 100:1 cost:benefit ratio! Of course, this analysis is only valid for the macroeconomy that does not burn the oil if the pipeline is not built. We all know that it will be transported by other means. The author counters that situation by telling a story of the getaway car driver who pleads not guilty because with the argument that if he hadn’t driven the car someone else would have. Econintersect: The real economic argument should question whether the oil can be consumed economically just based on the up-front costs. If current estimates are correct, solar electricity is already cheaper than all fossil fuels and the Canadian tar sands product is the most expensive fossil fuel in the world. Won’t it be the first oil reserves abandoned as solar electricity assumes an ever increasing role in the energy arsenal of the U.S.?
• Beware the police (important advice in New America) (Fabius Maximus) FM has contributed to GEI. Rather cynical summary of what the average American citizen might face today when dealing with police.
  

Greece

• What the Next Two Weeks Holds in Store in the Greek Crisis Saga (Bloomberg) Armageddon is near?
• Greece Could Default Without Exiting Euro, Say Economists (Bloomberg)
  Armageddon is NOT near?

Yemen

• Iranian ships turn away from Yemen (CNN) Confrontation with U.S. Navy avoided.
• More fighting, air strikes in Yemen, civilian death toll exceeds 550 (Reuters)

Iran

• Iran’s housing bubble (Al Monitor) The headline should be “Iran’s housing bubble bursts”. After years of healthy price gains for residential real estate, the average price has dropped by more than 14% over the twelve months preceding 20 March.
• Iran says nuclear talks making gradual headway (Reuters) Iranian negotiator says that Europeans and Americans made good clarifications about lifting sanctions.

Russia

• Cristina Kirchner and Vladimir Putin cuddle up over oil – and bitter feelings for Britain (The Telegraph) Another gathering into the new Russian circle as Argentina and Russia signed a a “strategic partnership” that included oil and gas deals, after Ms Kirchner visited Moscow and the Kremlin.

Nepal

• Some buildings collapse in Nepal capital after 7.7 quake – witnesses (Reuters)

Philippines

• United States seeks access to Philippine bases as part of Asia pivot (Reuters)
  

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