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Iran–Russia link national payment systems

Written by Muscat Daily on . Posted in Toma nota.../Take note....

The U.S. dollar is the world’s primary reserve currency, and it is also the most widely used currency for trade and other international transactions. Its hegemony gradually came into question in recent times due to geopolitical and geostrategic shifts. De-dollarization entails a significant reduction in the use of dollars in world trade and financial transactions, decreasing national, institutional, and corporate demand for the greenback. De-dollarization would shift the balance of power among countries, and this could, in turn, reshape the global economy and markets.

 

"Today, we take a big step towards the de-dollarisation and facilitation of economic relations between Iran and Russia."

Tehran, Nov.12.– Iran and Russia linked their national payment systems on Monday, a significant move to bypass the US dollar in bilateral transactions, Iran’s official news agency IRNA reported. 

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Is California Ready to Kill Its Oil Industry?

Written by Edward Ring on . Posted in Toma nota.../Take note....

The oil industry makes significant fiscal contributions to California’s state and local governments, including $21.6 billion in state and local tax revenues and $11 billion in sales tax, $7 billion in property taxes, $1 billion in income taxes and $96 million in Department of Conservation’s Geologic Energy Management Division (CalGem) assessments. California produces between 250,000 and 300,000 oil barrels daily, helping the United States avoid importing oil.

 

California’s state legislature is determined to eliminate fossil fuel as soon as possible, with oil at the top of the list. This goal is shared by the Governor and Attorney General, along with leadership and staff at every one of the many state agencies that collectively regulate the industry. But even if this goal is necessary and desirable, which is debatable, the methods being employed to achieve it are flawed. 

To begin with, and this can’t be repeated often enough, California still depends on petroleum for 50 percent of its total energy, and natural gas for another 30 percent. Dependence on gasoline is proving difficult to reduce, as California’s EV sales are leveling off, with 2024 likely to show no growth over 2023. And even after years of dramatic year-over-year sales growth, EVs still comprise less than 5 percent of California’s total registered vehicles.

It’s possible that at the present level of price and performance, most of the consumers who want to purchase EVs have already done so. It’s also not clear that we will have achieved adequate generating, charging, and transmission infrastructure by the time the percentage of EVs on the road doubles or triples, much less becomes the majority of vehicles.

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ARGENTINA: El plan Milei asombra al mercado

Written by El Diario Exterior on . Posted in Toma nota.../Take note....

El Presidente Milei prometió durante su campaña que buscaría implementar un plan económico centrado en reducir el tamaño del Estado, desregular el mercado laboral, reducir los impuestos y bajar el gasto público, combatiendo la corrupción y mejorando la economía en el proceso. 

 

La prima de riesgo se desploma en Argentina y la inflación cae a mínimos de tres años.

El plan Milei sigue dando sus frutos, al menos, en lo que a economía financiera se refiere. Los mercados financieros, a través de las decisiones de los inversores, están llevando a que el riesgo país de Argentina (conocida como prima de riesgo en Europa) caía niveles no vistos desde hace años.

Presidente Javier MileiEl plan Milei, basado en recortes de gasto, desregulación y atracción de inversión internacional, está sorprendiendo a los mercados. Aunque la economía real sigue sufriendo con intensidad esta política (es el coste de corto plazo), la economía financiera está despertando con más intensidad de lo esperado. El último dato que ha impulsado el precio de los bonos argentinos en los mercados fue el de inflación. El IPC publicado el pasado viernes arrojó que la inflación mensual en Argentina ha caído por fin por debajo del 4%, lo que fue acogido con gran entusiasmo entre los inversores.

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Acemoglu, Johnson y Robinson ganan el Premio Nobel de Economía 2024

Written by El Periódico on . Posted in Toma nota.../Take note....

El Premio de Ciencias Económicas del Banco de Suecia en Memoria de Alfred Nobel, conocido popularmente como Premio Nobel de Economía es entregado anualmente por la Real Academia de las Ciencias de Suecia, en Estocolmo, y es una de las más importantes distinciones otorgadas a todos aquellos intelectuales de la economía que han contribuido de manera favorable a una teoría o actividad. Entre los galardonados más renombrados destacan Paul Samuelson (1970), Friedrich Hayek (1974), Milton Friedman (1976), Robert Lucas (1995), Amartya Sen (1998) Joseph E. Stiglitz (2001) y Paul Krugman (2008)

 

La Real Academia Sueca de las Ciencias valora sus estudios sobre cómo se forman las instituciones y afectan a la prosperidad entre países.

 

Estocolmo, Oct. 14.– Daron Acemoglu, Simon Johnson y James A. Robinson han recibido este lunes el Premio Nobel de Ciencias Económicas de 2024 por sus estudios sobre "cómo se forman las instituciones y afectan a la prosperidad", anunció la Real Academia Sueca de las Ciencias. Los dos primeros son profesores en el Massachusetts Institute of Technolgy (MIT), en Boston (EEUU), y el tercero, en la Universidad de Chicago.

Todos los Nobel están dotados este año con 11 millones de coronas suecas (976.000 euros, 1,1 millones de dólares). Solo tres mujeres han ganado el galardón desde que se instituyó en 1969. Se trata de Claudia Goldin el año pasado, Esther Dufo, en 2019; y Elinor Ostrom, en 2009.

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The Disruptive Potential of Photovoltaics

Written by Edward Ring on . Posted in Toma nota.../Take note....

Arguments against solar panels primarily center on the fact that they require more energy and fossil fuel-burning equipment to mine, manufacture, and transport than they save. Another argument is that the production method uses hazardous chemicals, which are more detrimental than beneficial. Then there is the problem of end-of-life disposal. When compared to nuclear energy, solar energy generates 300 times more waste. When it is feasible, recycling is not cost-effective, is energy intense, and has a negative environmental footprint.

Gerardo E. Martínez-Solanas

 

Earlier this year the New York Times published an opinion piece, “What Will We Do With Our Free Power?,” written by David Wallace Wells. The sheer optimism of the piece was a breath of fresh air. Rather than emphasizing the existential terror of a climate crisis that renewable energy may help us avert, the author focused on the plummeting costs of photovoltaic electricity, with facts to back up his assertions.

When evaluating California’s energy policy, the scale of the transformation the state has embarked upon could use a bit more optimism. Ratepayers who are exhausted by the current runup in electricity prices compared to other states would be encouraged if they understood the path we’re on is likely, within just a few more years, to compel providers to compete on price to serve electricity in abundance.

To test this theory, consider the return on investment for a solar power producer even at today’s prices. The installed cost for utility-scale photovoltaics is now down to under $1.50 per watt. This means that via a 25 year, 6 percent per year construction loan, the break-even cost for sold electricity is only $.05 per kilowatt-hour. That’s an annual average, but even in winter, break-even productivity sufficient to cover the construction loan payment would only be around $.08 per kilowatt-hour. At that rate, solar capacity can be profitably overbuilt to deliver energy even in winter.

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  10. New Records Detail Federal-State Censorship Coordination in US 2020 Election
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Subcategories

Perspectiva económica: Martínez-Solanas Article Count:  113

Perspectiva Económica: Elías Amor Article Count:  37

Perspectiva económica: Castañeda Article Count:  89

Columnistas invitados / Guest columnists Article Count:  1260

Mundo Sindical / A Worker's World Article Count:  219

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