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Daily Archives: March 8, 2015

Stormy Seas, Rising Risks: What Investors Should Know About Climate Change Impacts at Oil Refineries

Union of Concerned Scientists – “When we think about fossil fuel companies in connection with climate change, we’re likely to focus on the role of their products in generating carbon emissions. But these companies are also, like everyone else, subject to the impacts of climate change. Oil refineries, in particular, are highly vulnerable to climate impacts such as sea level rise and increased storm intensity. And many of the companies that operate refineries are not disclosing these risks adequately to shareholders and local communities. Our 2015 report Stormy Seas, Rising Risks focuses on facilities run by the top five U.S. refining companies, assessing both the extent of their climate risk and the companies’ failure to address that risk and publicly disclose it to their investors. Why focus on refineries? Refineries are critical components of the U.S. energy system, and they are especially vulnerable to climate change impacts for several reasons:

  • They are frequently built in low-lying areas, often near the coastline. 120 U.S. oil and gas facilities are situated within 10 feet of the local high tide line.
  • They have long operating lives, and companies typically update or expand refineries in existing locations rather than building new ones.
  • They do not have high profit margins, so any disruption in operations may have a material impact on cash flows for the company and ripple effects across the economy when the public pays at the pump.
  • There is already a track record of disruptions to refinery operations due to climate-related events: recent storms such as Katrina, Rita and Sandy have caused significant refinery outages. Such events are likely to happen more often as climate impacts worsen.
  • Communities adjacent to refineries are also vulnerable to climate impacts and have been disproportionately affected by spills, blasts, and other industrial accidents at these facilities.

To reduce these vulnerabilities, companies will need to address both mitigation and adaptation to climate risks. On the mitigation side, they need to reduce their own emissions and stop opposing emissions-reduction policy measures. On the adaptation side, companies must actively consider, report, and act to prevent or minimize climate-related risks to their facilities.”

Insider Trading in Commodities Markets

Verstein, Andrew, Insider Trading in Commodities Markets (February 21, 2015). Available for download at SSRN: http://ssrn.com/abstract=2568140 or http://dx.doi.org/10.2139/ssrn.2568140 “In securities markets, insider trading is a crime. In commodities, insider trading is almost completely legal. This divergent treatment has long been accepted as appropriate, given perceived differences between the markets. For example, it has been thought… Continue Reading

Leveraging Libraries in the 10-Year Capital Plan – NYC

“Now that the de Blasio Administration is breathing new life into the 10-year capital plan, public libraries have an important role to play. In testimony before the City Council’s Committees on Finance, Cultural Affairs & Libraries, CUF research director David Giles lays out what could be done” – This testimony was presented on February 24,… Continue Reading

UK Call to end violence against women and girls: progress report 2010 to 2015

“Last year around 1.4 million women suffered domestic abuse and around 350,000 were sexually assaulted. This is wholly unacceptable and we remain determined to end violence against women and girls. In November 2010, we set out our strategy to achieve this ambitious vision. Our main themes of prevention, provision of good quality services, improved partnership… Continue Reading

Repeat Photography of Alaskan Glaciers – USGS

Glacier and Landscape Change in Response to Changing Climate – “Repeat photography is a technique in which a historical photograph and a modern photograph, both having the same field of view, are compared and contrasted to quantitatively and qualitatively determine their similarities and differences. The following sections depict how this technique was used at a… Continue Reading

The Unprecedented Expansion of School Surveillance Authority Under Cyberbullying Laws

Suski, Emily, Beyond the Schoolhouse Gates: The Unprecedented Expansion of School Surveillance Authority Under Cyberbullying Laws (2014). Case Western Reserve Law Review, Vol. 65, No. 1, 2014. Available for download at SSRN: http://ssrn.com/abstract=2573390 “For several years, states have grappled with the problem of cyberbullying and its sometimes devastating effects. Because cyberbullying often occurs between students,… Continue Reading

Canada’s Proposed Antiterrorism Act

Via Darlene Fichter [who notes a key difference between Canadian and US legislation is no oversight body]  postings by Canadian law professors Craig Forcese and Kent Roach – [Note – Prof. Forcese also posts on national security issues here.] “Parliamentary committee hearings on bill C-51 begin next week. We have created a table consolidating recommended… Continue Reading

Seven ways to grow the e-book business while helping libraries and readers: Ideas based on my two decades of writing about it

Via LLRX.com –  Seven ways to grow the e-book business while helping libraries and readers: Ideas based on my two decades of writing about it –  E-book sales are not posting impressive sales increases, at least not among big publishers. One major reason is that much of the technology is difficult to use. Even increased… Continue Reading

Book review: ‘Bexar BiblioTech: The Evolution of the Country’s First All-digital Public Library’

Via LLRX.com – Book review: ‘Bexar BiblioTech: The Evolution of the Country’s First All-digital Public Library’ – David Rothman describes why the BiblioTech library in Bexar County, Texas is a landmark achievement worthy of implementation and iteration in towns and cities throughout the US. His article describes the success of this variation on a library… Continue Reading

Worldwide Threat Assessment of the US Intelligence Community – 2015

Statement for the Record Worldwide Threat Assessment of the US Intelligence Community, Senate Armed Services Committee, James R. Clapper, Director of National Intelligence February 26, 2015. Cyber Strategic Assessment – “Cyber threats to US national and economic security are increasing in frequency, scale, sophistication, and severity of impact. The ranges of cyber threat actors, methods… Continue Reading