Energy

Juliette Kayyem writes that deliberately accepting some risks, and then being prepared when disaster strikes, will serve human societies better than pretending that perfect safety is achievable. We cannot prevent an earthquake or a tsunami, but we have control over how much death and destruction it causes.

In late 2017, Mexico made headlines as Italian company Enel bid what was then a world-record low price for renewable energy in the country’s third such energy auction. This development was possible due to the historical and sweeping energy reforms passed with broad support in Mexico in 2013. Then-President Enrique Peña Nieto had succeeded where previous Mexican presidents had failed, reversing decades of resource nationalism and overhauling the energy sector through constitutional reforms that gave the private sector a larger role and advantaged renewable energy in Mexico’s economy. The 2017 auction seemed to indicate Mexico’s bright future not only as a conventional oil producer, but also as a clean energy power.

How can China make good on its pledge to reach carbon neutrality by 2060? In Foundations for a Low-Carbon Energy System in China, a team of experts from China and the United States explains how China's near-term climate and energy policies can affect long-term decarbonization pathways beyond 2030, building the foundations for a smoother and less costly national energy transformation.

For an assessment of what was done, and left undone, at the recent United Nations’ Conference of the Parties on climate change, the Gazette spoke with Rob Stavins, the Harvard Kennedy School’s A.J. Meyer Professor of Energy and Economic Development and head of the Harvard Project on Climate Agreements, who attended his first COP in 2007 in Bali. 

Kelly Sims Gallagher asserts that politicians' pledges of dramatic long-term reductions should not let them off the hook for their failure to achieve more modest progress in the short term.

Ten years on, the lessons learned from the Fukushima Dai-ichi Nuclear Power Plant accident continue to focus on improving safety culture and regulatory oversight. However, the executive decisions that failed to prevent the disaster also demonstrate the necessity to re-examine the legal entities most often relied on for producing nuclear power: corporations.

In order to fully appreciate the global climate-change challenge that the Biden administration will face, Robert Stavins reflects on the history of international negotiations that brought us to this point.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

For decades, Singapore has been a premier refinery hub and gatekeeper between Asia and the Middle East, but its position is increasingly threatened as producer countries are shifting into the downstream activities that helped make Singapore the “Houston of Asia”. Oil and petrochemicals drive about one quarter of Singapore’s net exports. Greater competition in the global oil and gas value chain could take a heavy toll on the city-state’s national budget and economic growth prospects.

Trump's critics say that lack of success means the president is going to the United Nations in a weakened position.