Glasgow will host this year's Cop26 amidst the global panic of an energy crisis. Image courtesy of The BBC.
This week's issue of The Economist included an interesting, and perhaps controversial feature article on the "grave problems" with a transition to renewables, exposed by the current energy crisis.
Please see whether you agree with their conclusions.
Nonetheless, the article does make a few empirical observations that provide food for thought about the shift to a greener economy. Investment in green alternatives is running at half of what is needed to make the 2050 net-zero target, while 83% of primary-energy demand comprises of fossil fuels.
The article makes a few suggestions for a smooth transition, namely a global carbon price, the established (but temporary) use of gas as a go-between for developing countries heavily reliant on coal, and more concrete plans from world leaders during the upcoming Cop26 summit.
Andrew Bailey, Governor of the Bank of England, Courtesy of the Financial Times.
The Governor of the Bank of England has warned that action will be necessary to curb the inflation rate which has already begun to increase this year. The FT has written that the BoE interest rate is expected to rise from 0.1 to 0.25.
However, economics students at Lancaster should know that inflation is not so readily affected by changes in the interest rate, and further intricate policy is required, not only to curb runaway inflation but also to reduce its damage to the economy and well-being.
Students at Lancaster University can access news sites which require subscriptions through the library, without having to pay.
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