November 8, 2020

Posted by orrinj at 6:35 PM


Posted by orrinj at 6:09 PM


Posted by orrinj at 12:41 PM


More wind and solar means early closure of coal plants is more likely: We now estimate that Australia's main grid will be around 45% renewable as early as 2025, and that spells bad news for some coal generators. (David Leitch, 8 November 2020, Renew Economy)

The main conclusions are that, rather than slowing down, there has actually been about 3.5GW of utility-scale wind and solar projects getting the final go-ahead so far in 2020. These projects have been driven by the Queensland government, the ACT government, Snowy Hydro and also by large PPAs, typically with US-based technology companies such as Amazon.

Secondly, in total we estimate there is still over 6GW and probably close to 7GW of wind and solar projects that are either in the commissioning, construction or have received go-ahead phases. On top of that, there will be around 6GW of rooftop solar built over the next four years at a capacity factor of, say, 15%, for another 6TWh.

Thirdly, ITK's forecasts allow for even more projects to be announced and come into operation by 2025. This bit of ITK's forecast is entirely speculative and was originally based on nothing more than an assumption that the NEM (National Electricity Market) would reach 50% renewable by 2030 and then back-solving to get to the annual new capacity additions for that target. That number comes to 1.3GW per year, and over 10 years it adds up to 13GW. But so far we are running well ahead of that target.

ITK now estimates that the NEM will be around 45% renewable as early as 2025. Even if you don't believe any new projects will be announced, and why would you believe that, we still estimate 40% (33% wind + solar and 7% hydro).

Posted by orrinj at 8:49 AM


Bentley reveals plan to go fully electric by 2030 (BBC, 11/06/20)

Luxury carmaker Bentley has unveiled plans to go fully electric by 2030.

Before then, the brand will be switching its model range to offer only plug-in hybrid or battery electric cars by 2026.

Volkswagen-owned Bentley also aims to be completely carbon neutral across its manufacturing within a decade.

Posted by orrinj at 8:32 AM


Why the election result is the 'best of both worlds' for stocks, according to JPMorgan's quant guru (Matthew Fox,  Nov. 7, 2020,  Business Insider)

The election of Joe Biden and potential Republican control of the Senate is "likely the best of both worlds for stocks," according to Marko Kolanovic, JPMorgan's global head of macro quantitative and derivatives strategy.

In a note on Friday, Kolanovic said markets should turn the page after Tuesday's election. The election of Joe Biden will help remove a sizable amount of uncertainty from the market, especially if the final results are not contested by President Trump.

Biden as president means investors should expect an easing in America's trade war, which should help boost global growth and corporate earnings, according to the note. Additionally, stock market volatility could be lower under a Biden presidency as there will likely be no market disrupting tweets that catch investors by surprise, Kolanovic said. 

And if Republicans are able to retain control of the Senate, it would ensure that Trump's pro-business policies, like a lower tax rate and de-regulation initiatives, stay intact.

While it's understandable from a psychological perspective, the Republican need to see Donald as ac deregulator flies in the face of his trade, immigration and industrial policies.

Posted by orrinj at 8:30 AM


He's Fired: Donald Trump has been resoundingly defeated. Enjoy it. (TIM MILLER, NOVEMBER 7, 2020, The Bulwark)

What was overcome.

Donald Trump ran the most cynical and villainous campaign for re-election in modern American history.

He was impeached for extorting an ally into fabricating dirt on his opponent.

He indiscriminately violated the law that forbids presidents from using taxpayer resources to campaign. He even held his party's national political convention on the White House lawn, like a trashy caudillo.

He weaponized the Department of Justice and pressured agencies to favor campaign propaganda over public health.

He smeared his opponent in ways that were grotesque even by the modern standards of electioneering, piling lie upon hideous lie.

He put the lives of untold tens of thousands of Americans at risk to hold the most reckless public gatherings in the entire world amid a global pandemic.

He had at his disposal a massive non-state media operation that echoed his every lie, no matter how preposterous, and ignored every piece of counter-evidence, in order to further his lies.

While Joe Biden hewed to the mores and norms of American politics and basic decency, Donald Trump tried to take every possible advantage, no matter how unethical, untrue, or immoral.

And in the face of all of that, Joe Biden is going to flip 4 or 5 states, end up with a decisive 6+ million margin and earn more votes than any presidential candidate in American history.

Posted by orrinj at 8:04 AM


For free marketeers, this was the ideal election result (Matthew Lesh, 11/08/20, CapX)

For economic liberals the usual instinct -- mourning the loss of a Republican presidential ticket -- does not apply to Donald Trump's defeat. He may have cut taxes and red tape, but Trump was a big spending, debt-increasing, trade protectionist who rejected core free market principles.

Americans voted for Joe Biden to get rid of Trump, while thoroughly rejecting the socialist extremes of the Democratic Party. But they have also left Republicans in an unexpectedly strong position.  Trump will be replaced by a moderate centrist. Biden himself is, of course, no free marketeer. He will try to spend even more than Trump, use executive power to strangle businesses with red tape, and is no champion of free trade.

Nevertheless, Biden's victory defenestrates the socialist wing of the Democratic Party, who claimed a moderate would never succeed. can see divided government as a rational choice by voters.

Posted by orrinj at 8:00 AM


Posted by orrinj at 7:51 AM


Iran's Rouhani says Biden win a chance for US to 'compensate for mistakes' (New Arab, 11/08/20)

Iran's President Hassan Rouhani on Sunday said the next US administration has an opportunity to "compensate for its previous mistakes" following Joe Biden's victory in the presidential election.

"Now there is an opportunity for the future American administration to compensate for its previous mistakes and return to the path of adherence to international commitments," Rouhani said, in a statement on his official website. [...]

This US "administration's harmful and wrong policy for the past three years was not only condemned by people all around the world, but was also opposed by the people of (the US) in the recent election," Rouhani said.

He added that the Iranian people's "heroic resistance against the imposed economic war" by the Trump administration "proved that America's maximum pressure policy is doomed to fail."

Posted by orrinj at 7:47 AM


How 'Obamagate' and Hunter's 'laptop from hell' fizzled (KYLE CHENEY and ANDREW DESIDERIO, 11/08/2020, Politico)

In the end, "the biggest political scandal in the history of our country" and "the second biggest political scandal in our history" turned out to be neither.

President Donald Trump's eleventh-hour efforts to impart a stain of criminality onto President-elect Joe Biden through a series of vague, circuitous and often false allegations, did little but inflame his committed supporters. And the months-long investigations by his Republican allies in the Senate failed to gain traction outside of the Trumpworld echo chamber as Trump hurtled toward an Election Day defeat. Now, Trump is facing his own mounting scandals that are likely to dog him post-presidency.

The Logan Act. Burisma. Tony Bobulinski. John Brennan. Unmasking. The Durham probe. "The laptop from hell." They were all on Trump's last-ditch Bingo card, flummoxing voters who hadn't followed every twist in the tangled narratives. And as Election Day approached, even Trump's Capitol Hill allies who were supporting ongoing congressional investigations into those issues began to back away, warning that the issues weren't connecting with the electorate.

Posted by orrinj at 7:42 AM


Trump now facing reality of 'two avenues' of criminal charges after loss to Joe Biden: CNN (Tom Boggioni, 11/08/20, Raw Story)

One day after Donald Trump learned he won't be serving a second term, CNN legal analyst Elie Honig said the  president needs to prepare himself for the possibility of criminal indictments the moment President-elect Joe Biden is sworn in. [...]

"He loses his protections," he began. "He's avoided trouble by being in the White House -- there are laws and policies, especially in the Justice Department, that protect a sitting president. He will not be the sitting president at 12:01 on January 20th."

"He's got potential exposure from the federal government, from the Department of Justice, and potentially from the Manhattan prosecutors -- they are focusing on the Manhattan state prosecutors, the D.A's office are focusing on various financial fraud," he added. "In some ways that's easier to prove and easier to prosecute than some of the things that might be federal; for example obstruction of justice. But he's looking at at least two different avenues of potential criminal exposure once he gets out of office."

President Biden's instinct will be to pardon Donald, but it's important to put down a marker that crimes like his will be punished.

Posted by orrinj at 7:36 AM


Biden vows immediate, science-based action on virus (AFP, 11/08/20, Digital Journal)

"On Monday I will name a group of leading scientists and experts as transition advisors to help take the Biden-Harris plan and convert it into an actual blueprint that will start on January 20, 2021," Biden told supporters.

Earlier in the day, he had emphasised the urgency he placed on beating the pandemic.

"I want everyone, everyone, to know on day one we're going to put our plan to control this virus into action," Biden said before he had been declared the winner.

Unlike Biden, Trump held massive campaign rallies ahead of the November 3 vote, insisting the US was "rounding the turn" despite the virus surges.

Trump campaigned after contracting the virus himself.

Senior members of his administration have also contracted the virus recently. Trump's chief of staff, Mark Meadows, was the latest to test positive, media said late Friday.