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Economics

The mission of this working group is to build sustainable economy and financial balance within resilient social ecologies.

Members

Corey Watts david hastings Elhadj Drame Gina Angiola Kathy Gilbeaux LintonWells
Maeryn Obley mdmcdonald Samuel Bendett

Congress releases FY15 Omnibus

COMPILED BY THE GLOBAL RESILIENCE SYSTEM                                                          Dec. 14, 2014

Congressional Actions and The Obama Administration requests for emergency funding for Ebola.

Contained in the Omnibus Appropriations Bill for Fiscal year 2015 passed by the Senate Sunday and earlier by the House.

(Five links, scroll down.)

Tables showing actual approved appropriations, Compiled by Kaiser Foundation
http://kff.org/policy-tracker/congress-releases-fy15-omnibus/

FY15 CROmnibus - PT Entry (12-9-14) Table 2 - 80p

      Note: Congressional ddid not approve the Administration's  requested $1.5 million contigency fund.

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Free Fall in Oil Price Underscores Shift Away From OPEC

A hydraulic fracturing well in Colorado. With the technology, America is expected to surpass Saudi Arabia in oil production. Credit Brennan Linsley/Associated Press

Image:  A hydraulic fracturing well in Colorado. With the technology, America is expected to surpass Saudi Arabia in oil production. Credit Brennan Linsley/Associated Press

nytimes.com - November 28th, 2014 - Clifford Krauss

Since the economically crippling oil embargo of 1973, every American president has pledged to seek and achieve energy independence.

That elusive goal may finally have arrived, at least for the foreseeable future, with the failure of Saudi Arabia and its 11 oil cartel partners in the Organization of the Petroleum Exporting Countries to agree to a production cut that would put a brake on plummeting crude prices.

On Friday, the benchmark American price for crude oil continued the free fall that began on Thursday, closing at $66.15, its lowest price in more than four years.

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Electricity from Renewables Cost Competitive with Coal

energymanagertoday.com - by Linda Hardesty
November 26, 2014

Although a recent story from Spectrum IEEE said Google researchers gave up on a project to produce electricity from renewables more cheaply than electricity from coal, a story in the New York Times says some renewable electricity is already cost competitive with coal.

The story cites a study by the investment banking firm Lazard, which finds the cost of utility-scale solar is as low as 5.6 cents per kWh, and wind is as low as 1.4 cents, while natural gas comes in at 6.1 cents and coal at 6.6 cents.

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CLICK HERE - STUDY - Lazard's Levelized Cost of Energy Analysis - Version 8.0 (20 page .PDF file)

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Global Economy Facing Environment, Sustainability Skills Deficit

environmentalleader.com - October 16th, 2014

By 2020 the world economy could be facing a skills deficit driven by mega-trends such as population growth, increasing demand for natural resources, and soaring costs of energy, coupled with the impacts of climate change and ecosystem degradation, according to a report by the Institute of Environmental Management & Awareness.

Although the transition to a sustainable economy presents significant opportunities for business, according to an IEMA survey of over 900 organizations, only 13 percent of companies are fully confident that they have the skills to successfully compete in the sustainable economy.

(VIEW COMPLETE ARTICLE)

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The Fight Against Ebola Is a Fight Against Inequality

Commentary by Jim Young Kim, President of the World Bank Group 
                                                              Oct. 6, 2014

As the spread of the Ebola virus in West Africa shows, the importance of reducing inequality could not be more clear. The battle against the virus is a fight on many fronts -- human lives and health foremost among them.

But the fight against Ebola is also a fight against inequality. The knowledge and infrastructure to treat the sick and contain the virus exists in high- and middle-income counties. However, over many years, we have failed to make these things accessible to low-income people in Guinea, Liberia, and Sierra Leone. So now thousands of people in these countries are dying because, in the lottery of birth, they were born in the wrong place.

See full article

http://www.huffingtonpost.com/jim-yong-kim/the-fight-against-ebola-i_b_5938716.html

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Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels

      

Stephen Heintz, left, with Valerie Rockefeller Wayne and Steven Rockefeller on Tuesday.
Credit Hiroko Masuike/The New York Times

nytimes.com - by John Schwartz - September 21, 2014

John D. Rockefeller built a vast fortune on oil. Now his heirs are abandoning fossil fuels.

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Aruba's Leader, Legislators Launch Hunger Strike

               

In this Sept. 25, 2009 photo, opposition candidate from the Aruban People's Party, Mike Eman, center left, and his wife Doina ride atop a jeep upon their arrival to a polling station in Oranjestad, Aruba. Prime Minister Eman and several legislators launched a hunger strike Friday, July 11, 2014, to protest what they say is meddling by the Dutch government in local financial affairs.(Photo: Pedro Famous Diaz AP)

usatoday.com - AP - July 12, 2014

ORANJESTAD, Aruba (AP) — Aruba's prime minister and several legislators have launched a hunger strike to protest what they say is meddling by the Dutch government in local financial affairs. . .

. . . The hunger strike comes after the Dutch government asked Aruba's governor to hold off on signing the 2014 budget into law pending an evaluation of it. The Dutch Caribbean island, which approved the budget two weeks ago, is facing a major deficit and its national debt represents 75 percent of its GDP.

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Puerto Rico’s Indebted Power Utility Adds to Island’s Problems

       

The Puerto Rico Electric Power Authority must repay $146 million over the next two months for a credit line used to buy oil to generate electricity.  Credit Dennis M. Rivera-Pichardo for The New York Times

dealbook.nytimes.com - by Michael Corkery - July 1, 2014

Puerto Rico’s electrical utility is running out of money and time to negotiate a deal with its lenders, part of a broad reckoning for an island that relies on Wall Street to finance some of its most basic functions.

The Puerto Rico Electric Power Authority must repay $146 million to Citigroup over the next two months for a credit line used to buy oil to generate electricity. It is also uncertain whether the authority will be able to renew a $550 million credit line from Scotiabank for fuel purchases, people briefed on the matter said.

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Recession Linked to More Than 10,000 Suicides in North America, Europe

But countries can take steps to reduce self-harm cases during economic downturns, researchers say

consumer.healthday.com

THURSDAY, June 12, 2014 (HealthDay News) -- The Great Recession that began in 2007 appears to have taken more than a financial toll: New research suggests that the economic downturn could be linked with more than 10,000 suicides across North America and Europe.

The study found that between 2008 and 2010, rates of suicide surged in the European Union, Canada and the United States. The increase was four times higher among men than women, according to the report published in the current issue of the British Journal of Psychiatry.

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University of Oxford - Recession 'link' with over 10,000 suicides in the West
http://www.ox.ac.uk/news/2014-06-12-recession-link-over-10000-suicides-west

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China Says Climate Deal Hinges On Aid To Emerging Economies

      

A security guard uses a fan to keep cool as a heatwave continues in Shanghai on July 24, 2013. (PETER PARKS/AFP/Getty Images)

huffingtonpost.com - Reuters - by Alister Doyle - June 6, 2014

BONN, Germany, June 6 (Reuters) - China led calls by emerging economies on Friday for the rich to raise financial aid to the poor as a precondition for a United Nations deal to combat global warming.

Many countries at U.N. climate negotiations from June 4-15 have welcomed news this week that the United States plans to slash emissions from power plants, but emerging nations said cash was just as important to unlock progress.

"When the financing is resolved, this will set a very good foundation to negotiate a good agreement," China's chief negotiator Xie Zhenhua told delegates from about 170 nations.

(READ COMPLETE ARTICLE)

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