Wednesday, December 19, 2007

That Bow Tie Should Turn Her On, Too


From Benny Peiser:


The Daily Telegraph, 17 December 2007

By Richard Gray, Science Correspondent

Women must stop admiring men who drive sports cars if they want to join the fight against global warming, the Government's chief scientist has urged.

Professor Sir David King said governments could only do so much to control greenhouse gas emissions and it was time for a cultural change among the British public.

And he singled out women who find supercar drivers "sexy", adding that they should divert their affections to men who live more environmentally-friendly lives.

His comments were greeted with anger by sports car drivers who insisted that their vehicles' greenhouse gas emissions were tiny compared with those from four-wheel-drive vehicles.

Sir David, who is due to retire as the UK's Chief Scientific Adviser at the end of the year, said individuals needed to change their behaviour.

"I was asked at a lecture by a young woman about what she could do and I told her to stop admiring young men in Ferraris," he said.

"What I was saying is that you have got to admire people who are conserving energy and not those wilfully using it."

Sir David, who persuaded the Government to start using the Toyota Prius, a hybrid car that claims to have lower emissions than most conventional cars, added: "Government has so many levers that it can pull - when it comes to the business sector it is quite effective.

"As soon as you come to the individual, however, they will buy a Ferrari, not because it is cheap to run or has low carbon dioxide emissions, but because young women think it is sexy to see men driving Ferraris. That is the area where a culture change is needed."

A Ferrari F430 produces 420g/km of carbon dioxide - more than four times as much as the hybrid petrol-electric Prius.

Car enthusiasts criticised Sir David for attempting to lay the blame for climate change on a small number of drivers who own sports cars.

Peter Everingham, secretary the Ferrari Owners Club, said: "Nearly 90 per cent of people who buy Ferraris are married so they are not looking to impress women by buying their car.

"There are fewer than 5,600 cars made a year by Ferrari. To suggest Ferraris are a factor in climate change is unhelpful."

Sir David, who will next month publish a book on climate change called Hot Topic, insists his comments were intended as an example of the scale of culture change that is needed in society in order to combat global warming.

As chief scientist he has been instrumental in driving the climate change issue to the top of the political agenda.

Three years ago he sparked controversy when he claimed that global warming was a more serious threat than that of global terrorism.

Sir David said: "For a while I was quite unpopular at Number 10, but the point is that the Prime Minister then understood this was a very important issue.

"Now I would go one step further and say that our civilisation has never had to face up to as big a challenge as the climate change challenge of the 21st century."

Copyright 2007, TDT

EDITOR'S NOTE: To gauge the mood among the British public, I strongly encourage curious subscribers to read the comments section after the news story.
Yes, and young women should be turned on by men wearing Argyle socks, bow ties, and tweed jackets with suede elbow patches... all eminently practical clothing items.
Nothing about what young men should focus on. Perhaps they should continue to focus on women who wear skimpy clothing because they use less of earth's energy resources for their personal adornment.

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There is always an easy solution to every human problem—neat, plausible, and wrong.
Henry Louis Mencken (1880–1956)
“The Divine Afflatus,” A Mencken Chrestomathy, chapter 25, p. 443 (1949)
... and one could add "not all human problems really are."
It was beautiful and simple, as truly great swindles are.
- O. Henry
... The Government is on course for an embarrassing showdown with the European Union, business groups and environmental charities after refusing to guarantee that billions of pounds of revenue it stands to earn from carbon-permit trading will be spent on combating climate change.
The Independent (UK)

Tracking Interest Rates

Tracking Interest Rates


SEARCH BLOG: FEDERAL RESERVE for full versions... or use the Blog Archive pulldown menu.

February 3, 2006
Go back to 1999-2000 and see what the Fed did. They are following the same pattern for 2005-06. If it ain't broke, the Fed will fix it... and good!
August 29, 2006 The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.
December 5, 2006 Last spring I wrote about what I saw to be a sharp downturn in the economy in the "rustbelt" states, particularly Michigan.
March 28, 2007
The Federal Reserve sees no need to cut interest rates in the light of adverse recent economic data, Ben Bernanke said on Wednesday.
The Fed chairman said ”to date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation”.

July 21, 2007 My guess is that if there is an interest rate change, a cut is more likely than an increase. The key variables to be watching at this point are real estate prices and the inventory of unsold homes.
August 11, 2007 I suspect that within 6 months the Federal Reserve will be forced to lower interest rates before housing becomes a black hole.
September 11, 2007 It only means that the overall process has flaws guaranteeing it will be slow in responding to changes in the economy... and tend to over-react as a result.
September 18, 2007 I think a 4% rate is really what is needed to turn the economy back on the right course. The rate may not get there, but more cuts will be needed with employment rates down and foreclosure rates up.
October 25, 2007 How long will it be before I will be able to write: "The Federal Reserve lowered its lending rate to 4% in response to the collapse of the U.S. housing market and massive numbers of foreclosures that threaten the banking and mortgage sectors."
"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."

December 11, 2007 Somehow the Fed misses the obvious.
[Image from:]
December 13, 2007 [from The Christian Science Monitor]
"The odds of a recession are now above 50 percent," says Mark Zandi, chief economist at Moody's "We are right on the edge of a recession in part because of the Fed's reluctance to reduce interest rates more aggressively." [see my comments of September 11]
January 7, 2008 The real problem now is that consumers can't rescue the economy and manufacturing, which is already weakening, will continue to weaken. We've gutted the forces that could avoid a downturn. The question is not whether there will be a recession, but can it be dampened sufficiently so that it is very short.
January 11, 2008 This is death by a thousand cuts.
January 13, 2008 [N.Y. Times]
“The question is not whether we will have a recession, but how deep and prolonged it will be,” said David Rosenberg, the chief North American economist at Merrill Lynch. “Even if the Fed’s moves are going to work, it will not show up until the later part of 2008 or 2009.
January 17, 2008 A few days ago, Anna Schwartz, nonagenarian economist, implicated the Federal Reserve as the cause of the present lending crisis [from the Telegraph - UK]:
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at the Fed is not equal to the problem that faces it," she says, daring to utter a thought that fellow critics mostly utter sotto voce.
January 22, 2008 The cut has become infected and a limb is in danger. Ben Bernanke is panicking and the Fed has its emergency triage team cutting rates... this time by 3/4%. ...

What should the Federal Reserve do now? Step back... and don't be so anxious to raise rates at the first sign of economic improvement.
Individuals and businesses need stability in their financial cost structures so that they can plan effectively and keep their ships afloat. Wildly fluctuating rates... regardless of what the absolute levels are... create problems. Either too much spending or too much fear. It's just not that difficult to comprehend. Why has it been so difficult for the Fed?

About Me

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Michigan, United States
Air Force (SAC) captain 1968-72. Retired after 35 years of business and logistical planning, including running a small business. Two sons with advanced degrees; one with a business and pre-law degree. Beautiful wife who has put up with me for 4 decades. Education: B.A. (Sociology major; minors in philosopy, English literature, and German) M.S. Operations Management (like a mixture of an MBA with logistical planning)