ADAM TOOZE

Based on oil price expectation of $100/barrel Norwegian Equinor, now leader in renewables, pumped $40bn into US shale between 2007 and 2019 & racked up a total accounting loss of $21.5bn over the same period. Remarkable post mortem. ft.com/content/3c5be1… https://t.co/tN777M1VBf

The gendered impact of corona shock ran straight through the sectoral distribution of male and female workers. ft.com/content/3c34c7… https://t.co/VCu4D2bRKs

“She-cession”: In US peak male unemployment in May was somewhat below peak 2008-9 levels. For women unemp was FAR higher -> overall unemp significantly above 2009 levels. ft.com/content/3c34c7… https://t.co/QKAw1WFHLw

The 2012-3 shale oil production shock was NOT recognized by top forecasters. E.g. @EIAgov forecasts for onshore oil production forecasts compared to actual production volumes in the US: See break in 2012! One for @SoberLook equinor.com/en/news/202010… https://t.co/vjASXUku37

The overlap btw urban poverty and COVID incidence in Liverpool is pretty striking, at least to the naked eye. @GeorgeWParker @AndyBounds ft.com/content/f7ef00… https://t.co/Qn4vlabPIw

Btw 2015 and 2021 Amazon is looking to almost QUINTUPLE its workforce! From >200k to 1 m @DaveLeeFT ft.com/content/9cd803… https://t.co/zIPgGJou2U

The amount of large-scale “green” hydrogen projects — where the fuel is produced from renewable energy — in the pipeline totals more than 60GW of capacity, according to research by Rystad Energy. ft.com/content/3c5be1… https://t.co/P1yH1h6xpQ

Running out of space: btw 2018 and 2021 Amazon will likely DOUBLE its warehouse space. To over 300 m square feet! Adding 100 m square feet in 2020 alone. @DaveLeeFT ft.com/content/9cd803… https://t.co/auIryNYEZc

Contrast btw different ways of holding assets btw US, Jp and European households is remarkable: US holding of cash is less than EU holding of equities! @DailyFeather via @SoberLook https://t.co/NShSFM9q8b

For anyone interested in international politics of climate and Xi’s recent announcement, this question from @You_Shu_China sparked a really interesting flurry of debate. twitter.com/You_Shu_China/…

Thirty of the world’s largest asset owners, with portfolios worth a combined $5tn (£3.8tn), have committed to cutting the carbon emissions linked to companies they invest in by up to 29% within the next four years. theguardian.com/environment/20… https://t.co/Wg05D7fYDO

RT @laurimyllyvirta: Prof. He Jiankun just presented the results from a big Tsinghua Uni project on low-carbon development, including a "1.…

RT @laurimyllyvirta: @You_Shu_China @adam_tooze @jordanschnyc Tsinghua climate institute event yesterday was a good window to where the thi…

@Silmarillion88 @laurimyllyvirta @jordanschnyc @You_Shu_China Love @laurimyllyvirta point about Xi not wanting to appear to cave under Western pressure. Right now Nat Sec/rights & trade so toxic that linkage is bad for anyone who actually wants to move on climate. Better to seize moment to show sovereignty by acting unilaterally!

@Silmarillion88 @laurimyllyvirta @jordanschnyc @You_Shu_China There might be some kind of Hegelian “cunning of history” in a situation in which China & EU anchor decarbonization at one end and then the US “leads from behind” helping to corral likes of Canada & Australia and to handle exit from oil empire.

@Silmarillion88 @laurimyllyvirta @jordanschnyc @You_Shu_China Right now, perversely, the easiest way to anchor a durable bipartisan green push in the US is to present it in nationalist terms and as anti-China e.g. on EV.

@Silmarillion88 @laurimyllyvirta @jordanschnyc @You_Shu_China Makes sense. Unfortunately there is no way that anyone should take a “strong contribution” commitment from US seriously unless market driven. To change that you need not 1 election but a sea change in opinion on right-wing of US politics. China-climate linkage right now is toxic.

Austerity with Saudi characteristics: After oil prices in 2014 hammered Saudi public finances, new MBS regime was forcing up non-oil revenue and restoring budget balance. And then came COVID. ft.com/content/ffe2f6… https://t.co/mko3m5Juul

@laurimyllyvirta @jordanschnyc @You_Shu_China But on your point about bargaining. v. EU: not much to extract at this point v. US: no longer a credible partner due to domestic politics. Let falling renewable costs do the work. v. ROW: BRI, possible carbon import taxes?

@laurimyllyvirta @jordanschnyc @You_Shu_China OF COURSE. Totally agreed. You give a Gen Assembly speech at this moment you aren’t just reading bullet points.

@jordanschnyc @laurimyllyvirta @You_Shu_China Isnt the most plausible reading that Beijing recognizes that climate crisis is a major threat to regime. It knows China itself is biggest piece in puzzle. Through BRI it has influence over rapidly growing “ROW” emissions. US and EM will, in due, course "sort themselves out".

Rumors that China is banning coal imports from Australia have sent markets and politicians scurrying. Coking coal for steel production is the key issue. Didn’t realize quite how much came from Mongolia! ft.com/content/b875dc… https://t.co/6XbcSvdGvJ

RT @MarshallLibrary: How many books can you borrow? Undergraduate, MPhil & Diploma students: 6 books PhD (Econ & Dev. Studies): 10 books…

RT @TheStalwart: Wow, pretty big "Solar photovoltaics are now cheaper than plants fired by coal and natural gas in most nations." https:/…

@laurimyllyvirta @You_Shu_China Thanks for the super-interesting exchange. Isn’t this a 3 dimensional problem now? #1 Nat Sec (rights) #2 trade, #3 climate with issues like IP/investment bridging all three. But I agree that by unilaterally making the big announcement Beijing has changed the game.

This year we are feverishly discussing the role of central banks. But it is a largely technical discussion and low-key. Remember back to 2019 when the feathers were really flying! Then look back to 2018 and see the general tightening of policy …. @MDR_Research via @SoberLook https://t.co/sSSD8KukDl

Iron ore, soy, coal? Not this time. By 2025, 47-49% of the global luxury market dominated by Western brands is forecast to be Chinese consumers! In large part shopping outside China …. ft.com/content/4551f1… https://t.co/EFRtaebzx9

UK unemployment is surging at unprecedented rates. ft.com/content/5ec911… https://t.co/krP4ISk0JW

Not sure how meaningful this is, but it is interesting to see the array of countries ranked by “twin deficits”. @VrntPerception via @SoberLook https://t.co/KyViCN1sfT

RT @AdamDavidMorton: The marquee event for the Department of Political Economy @Sydney_Uni for the year — the annual 13th Wheelwright Lect…

Zambia is becoming a test case for the handling of the corona-triggered debt crisis. Difficulty in extracting concessions from China -> provides private creditors with a reason to baulk at agreeing to relive. ft.com/content/aa43fb… https://t.co/DXFqo3dfmW

Fly and the Fly-Bottle: Encounters with British Intellectuals Ved Mehta (1962) What an extraordinary title! https://t.co/A8PrKSshq3

Thai monarch has personalized royal wealth to unprecedented extent. Fascinating analysis by @JohnReedwrites ft.com/content/251d8a… https://t.co/z7MEN6HTT9

The generational shift to central bank independence between the 1970s and the 1990s as mapped by the @ecb ecb.europa.eu/pub/pdf/scpops… https://t.co/RxtZgL9g7Y

RT @Airminded: “Military ballooning has received a wonderful auxiliary in wireless telegraphy… The large balloon does the scouting, the sma…

"As I write this I can hear the specter of R. G. Collingwood tut-tutting somewhere behind the wainscot. By the time I have finished this essay I suspect G. R. Elton, perhaps or Jean-François Lyotard will have joined him, all tut-tutting away in an increasingly frenzied chorus." https://t.co/AtNsrMVkvh