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Business-speak brouhaha

Oh, for the love of language. As Duncan reminds, the aughts were an incredibly fraught time for cloaking war and destruction in democracy as a way of de-stabilizing and neutralizing domestic opposition – both political and in the media (still a smoking ruin but… bygones). But about the same time – curiously, right around the time of the establishment of this very fine blog – the business community encountered the nascent green movement and saw… well, you know what they saw. Let’s see how the language is holding up:

For the first time in at least a decade, US drillers last year spent more on share buybacks and dividends than on capital projects, according to Bloomberg calculations. The $128 billion in combined payouts across 26 companies also is the most since at least 2012, and they happened in a year when US President Joe Biden unsuccessfully appealed to the industry to lift production and relieve surging fuel prices. For Big Oil, rejecting the direct requests of the US government may never have been more profitable.

At the heart of the divergence is growing concern among investors that demand for fossil fuels will peak as soon as 2030, obviating the need for mutlibillion-dollar megaprojects that take decades to yield full returns. In other words, oil refineries and natural-gas fired power plants — along with the wells that feed them — risk becoming so-called stranded assets if and when they are displaced by electric cars and battery farms.

In other words, companies will pay dividends and buyback stock to keep the share price high for as long as they can, even in the face of all the signs that are telling them to shift, while they shift and not supporting the shift, thereby slowing the shift, when the shift needs to happen much faster. Squeeze all the profits out of short-term projects, eschew longer term investments in fossil fuels, which are obviously foolish because of what we are doing/not doing. If and when, indeed:

US oil production is expected to grow just 5% this year to 12.5 million barrels a day, according to the Energy Information Administration. Next year, the expansion is expected to slow to just 1.3%, the agency says. While the US is adding more supply than most of the rest of the world, it’s a marked contrast to the heady days of shale in the previous decade when the US was adding more than 1 million barrels of daily output each year, competing with OPEC and influencing global prices.

Tell us again – Billions in Handouts as doubts grow – actual subtitle of article (thanks editors!): Shareholders envisioning the imminent peak of petroleum demand want executives to focus on short-term returns rather than long-term projects that risk becoming stranded assets.

In the immortal words of William Burroughs, “And because he was himself a priest, there was no need to call one.”

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Designing Horizons

Funny thing about Green buildings – we need them! That’s decidedly unfunny BUT… timing is very important as far as the technology available and what seems most durable when architectural engineers choose how to power the building. Especially if it’s innovative and edgy:

Some of the building’s most important green features were the right answer to the climate problem in 2016, when design work was completed. “And then the answer changed,” Mr. Wilcox said.

Unlike many skyscrapers, One Vanderbilt generates much of its own electricity. This was a leap forward a decade or so ago — a way of producing power that saved money for landlords and was cleaner than the local grid.

However, One Vanderbilt’s turbines burn natural gas. And while natural gas is cleaner than oil or coal, it is falling from favor, particularly in New York City, which in recent years has adopted some of the most ambitious climate laws in the world, including a ban on fossil fuels in new buildings.

As that transition happened, SL Green was caught in the middle. Although One Vanderbilt went up relatively quickly, topping out after three years, its owner had to watch as the city’s environmental strategy raced forward.

The building is one of those skinny, ribbon skyscrapers in Manhattan. And they had the right idea. Kind of. It was right at the time, which seems like, well, ouch.

It is akin to many familiar things, like choosing a vocation that will interest you for decades and hopefully longer. It can be tricky, based on what you think is out there. If you choose a life of exploration – artistic, scientific, whatever – you throw the rock (the thing you’re chasing) as far as you can. Hopefully the journey to finding/achieving takes a long time, years, enough time for you to develop as a finder of such things.

Building is slightly different, as it is so permanent. So… go with ancient designs or new bells and whistles? It’s a gamble, much like choosing a vocation, if you are so fortunate. Choose wisely.

Image: an ancient design, Le Pont du Gard

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Really Gross Domestic Product

Leading the index alongside racism, guns, and the forced birth, it’s pandering. And it’s not even close.

Dr. K takes on rural rage in a column this week:

In terms of resources, major federal programs disproportionately benefit rural areas, in part because such areas have a disproportionate number of seniors receiving Social Security and Medicare. But even means-tested programs — programs that Republicans often disparage as “welfare” — tilt rural. Notably, at this point rural Americans are more likely than urban Americans to be on Medicaid and receive food stamps.

And because rural America is poorer than urban America, it pays much less per person in federal taxes, so in practice major metropolitan areas hugely subsidize the countryside. These subsidies don’t just support incomes, they support economies: Government and the so-called health care and social assistance sector each employ more people in rural America than agriculture, and what do you think pays for those jobs?

What about rural perceptions of being disrespected? Well, many people have negative views about people with different lifestyles; that’s human nature. There is, however, an unwritten rule in American politics that it’s OK for politicians to seek rural votes by insulting big cities and their residents, but it would be unforgivable for urban politicians to return the favor. “I have to go to New York City soon,” tweeted J.D. Vance during his senatorial campaign. “I have heard it’s disgusting and violent there.” Can you imagine, say, Chuck Schumer saying something similar about rural Ohio, even as a joke?

Not without conniptions from across the spectrum, including the so-called liberal media – which would probably be leading the charge for apologies. That’s a sort of reflexive pandering that doesn’t even work, performance that no one believes nor allows credit but still happens. And it provides confirmation for the entire industrial pandering complex to double their efforts.

All the hokum about IRS funding we’re about to hear, in the same breath as concerns over budget deficits no less, is merely beating a drum that has been fine-tuned. A lot of this malfeasance lies at the feet of journalism schools and the savvy of corporate media. Politicians who are supposedly afraid of men in dresses and American history now traffic exclusively in hate, and whether it’s performative or not matters not a whit. The results are the same.

Rural voters and the politicians who fan their rage may also be entitled to find out that patience for their antics has limits. Like children, they are absolutely in search of them.

Image: Calculus 1, intro to limits, via the internet

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Already figured out

A list of things we have already figured out, ways of living that support the planet’s future, to be quite frank about it.

Fast(er) trains – take the best one in the U.S., the Acela in the northeast corridor. We should have deeded it over to France or Japan years ago. They would charge us less, the trains would already be faster and more efficient, likely easily spread south and west for obvious reasons, displacing an over-reliance on regional airline traffic. Because we… see title.

Live close to work, school and play. This supposed magic to happy living requires no reverse engineering, and actually very little engineering at all. Just incentives and penalties, zoning, bikes lanes, public transport, and host a host of things we… see title.

Eco-friendly products, ‘perils’ of greenwashing (who’s, exactly?), and renewable energy generation. The barriers holding us back to realizing these are… the decisions not to embrace them. It’s very much akin to not funding pre-K or other early childhood education that we already know works really well. They all exist right now and have for decades. Renewable energy is in its early adulthood, and the so-called ‘perils’ are only fueling the corporate campaign to delay changing anything:

The peer-reviewed paper, published Thursday in the journal Science, analyzed all known climate predictions produced or reported by scientists at ExxonMobil and its predecessor from 1977-2003, and found that they were “at least as skillful” as those by independent experts (Exxon merged with Mobil in 1999). Like those independent models, most of Exxon’s proved to be accurate.

“They didn’t just vaguely know something about global warming decades ago, they literally knew as much as independent academic scientists did,” said Geoffrey Supran, the paper’s lead author, who recently left a research position at Harvard University to become an associate professor of environmental science and policy at the University of Miami’s Rosenstiel School of Marine, Atmospheric and Earth Science. “We now have this airtight, unimpeachable evidence that Exxon accurately predicted global warming years before it turned around and publicly attacked climate science.”

How much longer we’ll have to let the debates about ESG rage on, die off, and make comebacks are more about the fate of business news operations and PR than they are about investments in viable products, power, or even politics. Getting past what we’ve already figured out is the only route to splashy new breakthroughs like, hey, the coral reefs might actually survive.

Image: ACC Transportation and Public works

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The Grouchy Marxists

There is so much of this flying around our ‘culture’ right now, it can almost be too much. It’s like everyone is walking around dizzy from the constant eye-rolling, but can you blame us?

So this is really perfect, plus an expert book review:

By incoherence I don’t mean an “extreme” position or the shriek of the provocateur, but a specific genre of chin-stroking, brow-furrowing, “eye opening” sophistry that’s now robustly represented in mainstream newspapers and magazines. Fluttering near the political center (they refuse to be pinned down!), the exponents of the new incoherence look at the Right’s mushrooming despotism, then at the enfeebled, regrouping Left—and, with theatrical exasperation, declare that both are a bit tyrannical. These pundits are the opposite of adherents; all hail the Incoherents! Like the dadaists and the X-Men, the Incoherents are bound by a shared mission: in their case, the valiant disputation of other people’s missions (which we now know are really “orthodoxies”). Anecdotes and dazzling inanities draped over an individualist common sense—this is the technique favored by the scramblers of our discourse. Faced with Incoherent writing, the reader embarks on a psychedelic saga: the truly trippy liquefaction of virtually all of social reality, especially those parts that have been politicized by the Left. So if you crave a “fresh” opinion, feel free to open the New York Times—on class, read David Brooks; on gender, read Bari Weiss. And on race, read Thomas Chatterton Williams, who has now published his second book.

It has been interesting, at the very least, to observe Williams’s ascent. His first book, released by Penguin in 2010, was the memoir Losing My Cool: How a Father’s Love and 15,000 Books Beat Hip-Hop Culture—the subtitle is now Love, Literature and a Black Man’s Escape from the Crowd—which strode boldly, if rather late, into the “conversation” about black youth culture. (The Washington Post had run Tipper Gore’s famous op-ed “Hate, Rape, and Rap” a full twenty years before.) The volume’s original cover was a picture of the author in a suit: jacket collar popped, tie whipping in the wind. Behind him is a building emblazoned with graffiti.

Read the whole thing. Actually, read other book reviews, too. Hell, read books – but choose wisely! Thanks for the heads-up on this one, Mr. Haslett.

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Paper, scissors, rock and a hard place

There is an old truism (cite?) that when capitalism and democracy come into conflict, capitalism will always win. But for a long time now it has seemed that the holy virtues of the market are failing the political preferences of the American right. Reasons become excuses and victors turn themselves into victims when they really have to fight against ideas they once supported like market power, not to mention the popular vote. It’s all a bit embarrassing once you step back for a moment. We’ve just gotten used to it, but the whole concept of ‘far-left finance’ is just as crackpot as ‘left-wing corporate media.’ We’re sorry, but no:

Economic modernity isn’t what it used to be. Today, some of America’s largest investors are pension funds that aggregate the savings of unions and public-sector employees, and mutual funds that pool the retirement accounts of white-collar professionals. None of these constituencies are remotely as demographically or ideologically similar to the contemporary conservative base as the capitalist class of yore was to the right-wingers of the mid-20th century. Indeed, over the past 70 years, America’s top executives, money managers, and professionals have grown more diverse, cosmopolitan, and socially liberal, even as the GOP base has grown increasingly animated by exclusionary nationalism and culture wars.

At the same time, consumer-facing brands now covet the favor of young city dwellers, both within America’s borders and beyond them. This is because such consumers are more likely to try new products than your average elderly person in rural America, and the former’s brand loyalty is more valuable, since they are less likely to die soon. That reality, combined with the imperative to compete outside the U.S. market, leads many of America’s most visible firms to align themselves, however superficially, with a progressive and cosmopolitan cultural politics.

Finally, the reality of climate change has given private investors both ideological and financial reasons to disfavor the carbon-intensive industries that supply a disproportionate share of the GOP’s corporate funding. Many public employees and socially liberal professionals like the idea of investing in the green transition, while plenty of far-sighted financiers believe that heavy exposure to fossil fuel assets is unwise in the long-term.

To blame this on some sort of woke anything is just a slur. They can’t compete so they just whine. Refusing to acknowledge where the markets and money flow is not some sort of physics you can undermine with new made-up laws of specialer relativity because you don’t agree with gravity.

Babies are at least honest about what’s in their diapers.

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Machines learning

But despite the hype (and… oh boy!), not in a good way. So-called artificial intelligence – no relation to intelligence, but the word just seems so suggestive – is actually just machine learning. And who teaches the machine to learn how they learn what they learn? Humans. Thus, AI/ml also includes all the joys of human foibles.

Oh, and not just the racism + sexism. Also, the burning:

For example, recommendation and advertising algorithms are often used in advertising, which in turn drives people to buy more things, which causes more carbon dioxide emissions. It’s also important to understand how AI models are used, Kaack says. A lot of companies, such as Google and Meta, use AI models to do things like classify user comments or recommend content. These actions use very little power but can happen a billion times a day. That adds up.

It’s estimated that the global tech sector accounts for 1.8% to 3.9% of global greenhouse-gas emissions. Although only a fraction of those emissions are caused by AI and machine learning, AI’s carbon footprint is still very high for a single field within tech.

With a better understanding of just how much energy AI systems consume, companies and developers can make choices about the trade-offs they are willing to make between pollution and costs, Luccioni says.

I know – that’s your shocked face. But move fast because it’s important to keep up with the language as it changes and the conditions do not, or are made worse. Because the investment society that cultures large language models and the like already feels three steps ahead, because they never under-invest in PR. Relying on ‘companies and developers to make the right choices about trade-offs’ is only in any way reliable to the extent we change the end of that statement above about what they are ‘willing’ to do. Otherwise, we’re only and ever at the mercy of the companies and developers, no matter whether they blame it on some disembodied algorithm, call it machine learning or whatever.

It’s definitely artificial something.

Image via reset.org

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How to stop running if you hate it so much

Reverse of this real story in the WAPO. I mean, really.

When companies/governments go quiet about their so-called ESG efforts, whether it’s investing or actually taking steps to reduce their carbon print(s), to avoid criticism and backlash well, you know we are once again through the looking glass:

The phenomenon, known as green hushing, has become pervasive even as businesses set more ambitious internal targets, according to a survey by South Pole, a climate consultancy and carbon offsets developer.
South Pole surveyed 1,200 large companies from 12 different countries, all of which have set net-zero targets and more than two-thirds of which identify as “heavy emitters.” It found that although a majority of companies have set science-based targets to help them deliver on their commitments, 23% “don’t plan to publicize” them.
The findings suggest that the stigma of so-called greenwashing, where a company exaggerates its green credentials, is so feared that executives will do anything to avoid being accused of it. Being labeled a greenwasher brings with it reputational harm, financial damage and, increasingly, the scrutiny of regulators. And once tainted by such allegations, companies can struggle to resurrect their reputations.

But green hushing also comes at a cost, South Pole said.
“More than ever we need the companies making progress on sustainability to inspire their peers to make a start,” said Renat Heuberger, chief executive and co-founder of South Pole. “This is impossible if progress is happening in silence.”

So, it’s a preemptive PR move, if that makes you feel any better (Ed: it doesn’t). But it does remind us who/what companies serve first – their reputations. If everything is done for optics, what are we ultimately looking at? Much less seeing. We do well to keep this in mind across many contexts – which news stories, politicians, examples of corruption, coups d’etat get more play – all are choices. There’s nothing celestial about which news makes headlines. Someone decided.

It’s much the same with these companies who decide that ‘being quiet about it’ is just another tool in their climate tool box. People and planet need confirmation, verification, allies, and affirmation.

Apologies to Dylan Thomas but Do not go quiet into that good night,

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Slutty carbon

Sure, it will bond to any old thing – just a fun-loving, good time chemical element with the symbol C and atomic number 6. Call anytime.

And though carbon is not magnetic, it does attract kooks. Okay, no harm there, chacun à son goût and all that. We’re not all kooks. We even devise ways around it – solar, wind, other means of generating that dirty dirty electricity that we enjoy so much. And you won’t believe what happens next:

This scene from the village council meeting in June helps to explain why opponents of three solar projects proposed in Pickaway County, Ohio, can say they have the support of nearly every local elected official. It shows how a committed group of local residents have dominated the debate by packing county, village and township meetings, and making their displeasure known if officials don’t fall into line.

The prevailing emotion is fear, whether it’s fear of the solar projects—or fear of upsetting the people who oppose the projects.

And the local fight has broad implications. The world needs to increase its reliance on renewable energy, an essential part of avoiding the most destructive effects of climate change. Local opposition shows some of the disconnect between global needs and the concerns of some of the people who don’t want to live next door to wind and solar projects.

It’s a little beyond as well as different from traditional NIMBYism, though also quite similar in several ways, as the locals literally don’t want to be living next to utility-scale solar. They don’t want to see it and they don’t want to hear it. Though it’s not a discussion about energy and how they get it at all. “Just leave us alone,” they might say, then step back inside and to watch the ballgame. And there’s the rub.

Whether we blame them for not wanting to connect their own usage of dirty energy to their passions for their freedom not to see it, or blame the local school district that benefits from the increase in tax revenue for not being more vocal in their support for the solar projects, the moment and the conflicts should be noted. The difficulty of telling nominally self-governing people what to do when their own understanding of any right thing is itself in conflict with abstractions like freedom is certainly one of the more devious tricks slutty carbon has played on us.

It’s sort of a next-level struggle with renewables that has nothing to do with energy – because focused on how we’re gonna watch the game or dry the clothes, or even live that far from the grocery store [don’t get me started], the question changes entirely. At least the NIMBYism is familiar.

Image: Carbon–carbon bonds get a break | Nature