According to a paper by UCLA published in Environmental Research Letters, “The planned transition could produce 2 negative consequences: a) exacerbating consumers’ demand for electricity at peak usage periods & b) increasing the amount that consumers spend on energy.”
“Electrifying residential buildings will help to combat climate change and improve indoor air quality — but only if we no longer require gas-fired power plants to generate electricity and ensure there is sufficient renewably generated power available 24/7.”
CA has both issues!
They looked at patterns of gas usage: peaks in gas use don’t coincide w/ the times that renewable energy sources are producing the most energy. Wind power capacity varies based on weather; solar is most productive when the sun is high in the sky, not during evening & morning hrs.
In Southern California, gas is 4 to 6 times cheaper than electricity. Modern electric appliances & well-insulated homes can recoup a portion of the price difference b/c they use energy more efficiently, but most low-income households cannot afford to retrofit & update appliances.
Bottom line: Without careful planning, UCLA study finds, shift to green power could cost more & strain the state’s grid.
And guess what? It hurts the poor the most b/c it makes them consume more expensive energy that is unstable. 👈🏻👈🏻👈🏻
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This story. Have to say the @WSJ has done a good job on covering the reality of life in America, especially on issues such as household debt. This one is about college loans & specifically the aspirational aspect of higher education that led many parents to borrow for their kids.
There is a mantra in American society that the only way for upward mobility is through a college education. Many low income & middle class parents bought that & do whatever they can to give their children opportunities.
But the premise is flawed as not all colleges are equal.
Parents in low-income & even middle class, with good intentions but may be ill informed, don't have people that advise them on how to maximize return (higher income for kids + opportunities to mingle w/ kids that will be good influences) on their investment, or debt. Look at this
Biden said he won't remove Trump phase-one tariffs.
Biden said he hoped to tackle China’s “abusive practices,” including “stealing intellectual property, dumping products, illegal subsidies to corporations,” as well as forcing “tech transfers”
Meaning, at best there is a floor to the US-China relationship but certainly no U-turn with a new administration.
There's a paper by the U.S. - China Economic and Security Review Commission created by Congress & it asks the US to do more against rising threat of assertive China.
Not going to discuss this tomorrow but have u seen the fertility rate in Korea? Epic low! Lowest in the OECD! Did u know that it's only 0.92 in 2019 & down from 0.98 in 2018.
As 2019 was a bad year for South Korean fertility, 2020 so far has been abysmal despite South Koreans staying at home more. Child births in September 2020 are lower and ytd is -8.8%YoY.
U may ask what is the Korean gov doing to encourage procreation in the peninsula. Well, well, the tax credit is not generous at all! Only USD135 for 1st child & that jumps to +270 for the 3rd kid.
US is 1,500 per child. PAY PEOPLE TO HAVE KIDS!!! Massive tax cut + baby dividend!
Start & finish are two different things. The question is production & distribution of vaccines & that means the reach of the vaccines to get to the 70% of the population needed to get herd immunity. The math right now tells us that we're looking at a solution that takes time.
Comparison of the 2 vaccines (Pfizer just updated that it's 95% too) so both good results but details tell you that we need to over come the following:
*Production
*Distribution.
Let's discuss those issues!
Pfizer: 50m does by 2nd 2020 & 1.3bn in 2021.
For Moderna: 20m by end 2020 & 500m-1bn.
Meaning that we're likely to get 70m by end 2020 & have to wait for 2021 to get somewhere between 1.8bn to 1.3bn.
These vaccines require 2 dosages. Priority will be healthcare + elderly.
Good morning!!! Today is 17 November & the USA has 2 vaccines that have great results! 🇺🇸🔥 And so more of risk-on!!!
*Dollar down
*Equities up!
Details:
*Both are mRNA vaccines, a brand-new tech. Not made w/ Covid
*Both vaccines require 2 shots, given several weeks apart.
*US hope to have about 20 mn Moderna doses &another 20m of Pfizer & German partner BioNTech to use in late December
*>65 likely to have priority.
Both Russia & China have deployed their vaccines to people without finishing the final trial. So you ask, what's the difference b/n the US & China vaccines?
*China uses old tech: use a dead version of the Sars-CoV-2 virus rather than more advanced techniques deployed elsewhere