Texas power grid load shedding in the early morning of 15 February 2021, 0123-0203. Up to an additional ∼24,000 MW net generation was unavailable due to extreme weather. Loss of generation was 52,277 MW (approximately 48.6 percent) at the highest point. Peak load shed was 20,000 MW. Most of the loss was caused by limited gas availability for gas-fired power plants. Graphic: ERCOT

Texas power grid failure during Winter Storm Uri mostly due to limited gas availability for gas-fired power plants

25 February 2021 (ERCOT) – [The following report is excerpted from the ERCOT slide presentation, Review of February 2021 Extreme Cold Weather Event (pdf), presented by ERCOT CEO Bill Magness to the Texas Senate Business and Commerce Committee House Joint Committee on State Affairs and Energy Resources on 25 February 2021. –Des] Overview of Cold […]

Results from the WEF Global Risks Perception Survey 2020. The Global Risks Network chart shows how respondents rank the most concerning risks globally and their drivers. Data: World Economic Forum Global Risks Perception Survey 2020 / The Global Risks Report 2021. Graphic: WEF

WEF Global Risks Report 2021: Risk landscape dominated by pandemic and climate change – “Ignoring risks doesn’t make them go away”

By Colleen Zitt 3 February 2021 (Zurich) – As Chief Risk Officer for Zurich North America, I eagerly await the annual release of the World Economic Forum’s (WEF) Global Risks Report. This year’s 2021 edition is no exception. Its thoughtful, laser-sharp analysis of short- and long-term global risks — dominated by the COVID-19 pandemic and climate change — […]

Life expectancy at birth for eleven OECD nations, 1980–2018. The U.S. is unique among wealthy nations for having a declining life expectancy. Graphic: The Commonwealth Fund

2020 report: U.S. citizens pay more for health care than any other OECD nation – But they have decreasing life expectancy, highest suicide rate, most chronic health conditions, and highest obesity rate

By Roosa Tikkanen and Katharine Fields 25 February 2021 (The Commonwealth Fund) – International comparisons of health care systems offer valuable tools to health ministers, policymakers, and academics wishing to evaluate the performance of their country’s system. In this chartbook [ppt, pdf], we use data collected by the Organization for Economic Cooperation and Development (OECD) […]

Icicles form on a ceiling fan in the hallway of an uptown Dallas apartment building during Winter Storm Uri, 15 February 2021. Photo: Thomas Black / Twitter

Texas faces “plumbing catastrophe,” food shortages after devastating storm – Millions of gallons leak from Austin water system – “It’s safe to say we’ve literally never seen anything like this”

By Suzanne Gamboa and Corky Siemaszko 25 February 2021 SAN ANTONIO (NBC News) – The number of Texans who were boiling their water to make it safe to drink plunged to 3 million Wednesday from 8 million the day before as platoons of plumbers and engineers worked around the clock to repair the countless homes […]

Snow covers an oil field as pump jacks operate in the Permian Basin in Midland, Texas, U.S, on Saturday, 13 February 2021. Photo: Matthew Busch / Bloomberg / Getty Images

Texas freeze led to release of tons of air pollutants as refineries shut – “These emissions can dwarf the usual emissions of the refineries by orders of magnitude”

By Laura Sanicola and Erwin Seba 21 February 2021 NEW YORK/HOUSTON (Reuters) – The largest U.S. oil refiners released tons of air pollutants into the skies over Texas this past week, according to figures provided to the state, as refineries and petrochemical plants in the region scrambled to shut production during frigid weather. An arctic […]

Map showing record cold temperatures across the United States on 16 February 2021 caused by winter Storm Uri, compared with the average temperatures over the 1979-2000 period. Temperatures were far colder than average and caused widespread power failures across Texas and other states. Data: National Weather Service / Global Forecast System / ClimateReanalyzer.org / Climate Change Institute / University of Maine. Graphic: The New York Times

How one Texas storm exposed an energy grid unprepared for climate change

By Josh Lederman 17 February 2021 WASHINGTON (NBC News) – A devastating winter storm that has plunged Texas into an electricity crisis offers warning signs for the U.S. as the Biden administration seeks to prepare for a future in which extreme weather is a greater risk and America is almost entirely powered by renewable energy. Generating energy is one challenge. But […]

A worker stands outside a construction site of the Xinzhuang coal mine that is part of Huaneng Group’s integrated coal power project, on 30 September 2020. Photo: Thomas Peter / Reuters

China rations electricity for millions – “The whole city was dark”

By Vivian Wang 21 December 2020 (The New York Times) – In the city of Yiwu in eastern China, the authorities turned off streetlights for several days and ordered factories to open only part-time. In coastal Wenzhou, the government ordered some companies not to heat their offices unless temperatures are close to freezing. In southern […]

Collateralized loan obligations (CLOs): An Illustrated Guide. Data: Fitch Ratings. The fourth CLO depicts an aggregate leveraged-loan default rate of 78 percent. Graphic: the Atlantic

The looming bank collapse – “This crisis is more horrifying than I anticipated”

By Frank Partnoy 14 June 2020 (The Atlantic) – After months of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these factors are serious and could mire the United States in a deep, prolonged […]

UN Secretary-General António Guterres warns of a global food crisis caused by Covid-19 during a speech on 9 June 2020. Photo: UN News

UN warns of global food crisis – “It is increasingly clear that there is an impending global food emergency that could have long term impacts on hundreds of millions of children and adults”

9 June 2020 (UN News) – Although the COVID-19 pandemic could push nearly 50 million more people into extreme poverty, this and other dire impacts of the crisis can be avoided if countries act immediately to shore up global food security, the UN Secretary-General said on Tuesday. For his latest policy brief on the pandemic, […]

Map showing surface air temperature anomaly for May 2020 relative to the May average for the period 1981-2010. May 2020 was the hottest May on record. Data: ERA5. Graphic: Copernicus Climate Change Service / ECMWF

May 2020 was hottest May on record – “The really large anomalies started during January, and since then this signal has been quite persistent”

By Kelly Macnamara and Marlowe Hood 5 June 2020 PARIS (AFP) – Temperatures soared 10 degrees Celsius above average last month in Siberia, home to much of Earth’s permafrost, as the world experienced its warmest May on record, the European Union’s climate monitoring network said Friday. Large swathes of Siberia have been unusually warm for […]

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