Bill Gates explains why the climate crisis will not be solved by the free market.
In a recent interview with The Atlantic, billionaire tech magnate Bill Gates announced his game plan to spend $2 billion of his own wealth on green energy investments, and called on his fellow private sector billionaires to help make the U.S. fossil-free by 2050. But in doing so, Gates admitted that the private sector is too selfish and inefficient to do the work on its own, and that mitigating climate change would be impossible without the help of government research and development.
“There’s no fortune to be made. Even if you have a new energy source that costs the same as today’s and emits no CO2, it will be uncertain compared with what’s tried-and-true and already operating at unbelievable scale and has gotten through all the regulatory problems,” Gates said. “Without a substantial carbon tax, there’s no incentive for innovators or plant buyers to switch.”
Gates even tacked to the left and uttered words that few other billionaire investors would dare to say: government R&D is far more effective and efficient than anything the private sector could do.
“Since World War II, U.S.-government R&D has defined the state of the art in almost every area,” Gates said. “The private sector is in general inept.”
Read more » U.S. Uncut
See more » http://usuncut.com/climate/bill-gates-only-socialism-can-save-us-from-climate-change/
Kuwait City — According to Kuwaiti Al Qabas daily, the flamboyant Saudi Prince and entrepreneur, al-Waleed bin Talal posited that his country must reconsider its regional commitments and devise a new strategy to combat Iran’s increasing influence in Gulf States by forging a Defense pact with Tel Aviv to deter any possible Iranian moves in the light of unfolding developments in the Syria and Moscow’s military intervention.
“The whole Middle-East dispute is tantamount to matter of life and death for the Kingdom of Saudi Arabia from my vantage point ,and I know that Iranians seek to unseat the Saudi regime by playing the Palestinian card , hence to foil their plots Saudi Arabia and Israel must bolster their relations and form a united front to stymie Tehran’s ambitious agenda,” Kuwaiti News Agency (KUNA) quoted Prince al-Waleed as saying on Tuesday , adding, Riyadh and Tel Aviv must achieve a modus vivendi , for Saudi policy in regard to Arab-Israeli crisis is no longer tenable.
Iran seeks to buttress its presence in the Mediterranean by supporting Assad regime in Syria, added Prince al-Waleed, but to the chagrin of Riyadh and its sister Gulf sheikhdoms , Putin’s Russia has become a real co-belligerent force in Syrian 4-year-old civil war by attacking CIA-trained Islamist rebels. Here surfaces the paramount importance of Saudi-Israeli nexus to frustrate Russia-Iran-Hezbollah axis.
” I will side with the Jewish nation and its democratic aspirations in case of outbreak of a Palestinian Intifada( uprising) and i shall exert all my influence to break any ominous Arab initiatives set to condemn Tel Aviv , because I deem the Arab-Israeli entente and future friendship necessary to impede the Iranian dangerous encroachment,” Al Qabas cited the Saudi media tycoon as he is in a regional tour, visiting the other Gulf Arab littoral states–Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman–to muster support for Saudi-backed Islamist rebels in Syria.
Read more » The Nation
See more » http://nation.com.pk/international/28-Oct-2015/in-case-of-palestinian-uprising-i-ll-side-with-israel-saudi-prince-al-waleed-bin-talal
KATHMANDU, Nepal – Fuel-starved Nepal has signed an agreement with China to import gasoline, diesel and cooking gas, effectively ending a monopoly on supply from India, which has restricted fuel convoys as a result of political protests in the Himalayan nation.
The decision to import Chinese oil amid severe shortages has brought China a step closer to Nepal, which traditionally is more influenced by India in the south. The two Asian giants have been jostling for influence in landlocked Nepal.
Nepal sent a team of officials this week to Beijing, where they signed a memorandum of understanding Wednesday with China National United Oil Corp., said Nepal Oil Corp. official Deepak Baral.
Details on how much fuel Nepal will receive, prices and other arrangements still need to be worked out, Baral said, but he confirmed the supply would be on a regular basis.
It would be the first time for Nepal to import Chinese fuel. It has so far relied exclusively on India for its energy needs.
Indian External Affairs Ministry spokesman Vikas Swarup declined comment on Nepal’s agreement with China.