Venezuelan Oil Sanctions Removed
The US began easing sanctions on Venezuelan oil in mid-October of this year. In exchange, Maduro is expected to allow opposition politicians to participate in elections and respect the rule of law. Already there are indications those expectations may be disappointed. However, that has not stopped a flurry of activity as oil companies from around the world descend on Caracas. Venezuelan crude has been selling at a significant discount, with shipments priced at around $65 per barrel. This is well below even what most Russian crude sells for, with the “$60 per barrel price cap” over their actions in Ukraine largely ignored. The move to open up Venezuela is likely a warning to OPEC, which has continued cutting production to prop up the price of oil against US wishes. Venezuela has the largest proven oil reserves in the world in addition to massive untapped natural gas fields.
Social Justice is for the Birds
Literally. The American Ornithological Society is taking the fight to a new frontier, giving hope to the untold millions long oppressed by the names of birds. By ridding our feathered friends of offensive monikers they hope to restore the joy of bird-watching to a more diverse community. In English, all birds bearing the names of people will be changed. Bird species are often called by the name of the individual who first identified them. By changing them all, the Society is avoiding debating names one at a time and passing judgment on the life of everyone who ever named a bird. A biologist on the name-changing committee responsible for the decision is reported by NPR as saying, “They’re important for the people who watch birds and the communities who may or may not feel very welcome, if all the birds are named after these old European ornithologists.”
Removing Guarantees
During COVID, the UK government guaranteed emergency loans to sustain businesses through mandatory lockdowns. The grand total issued exceeded 30 billion pounds (£). The vast majority are still making payments. While 5 billion has been fully repaid, over 6 billion in bad loans have been made good by the government. Now the guarantee has been canceled for an additional 1 billion. Fraud is an issue, but lack of due diligence by lenders is the primary cause. Banks will be responsible for any losses that ensue. Other fallout from an overzealous embrace of emergency measures by private institutions includes Pfizer in the US. The return of over $5 billion worth of unused products led to the company’s first quarterly loss in years.
Another Damaged Pipeline
The Balticonnector pipeline transports natural gas from Europe through Estonia to Finland. It was ruptured, and the damage was initially thought to be sabotage. Two different communications cables were also compromised. Investigators have attributed the damage to a large anchor, found broken underwater near the pipeline. A Chinese vessel, the NewNew Polar Bear, passed over all three. The Chinese government has vowed to cooperate with the investigation, but it will be virtually impossible to establish if the damage was accidental or intentional. Balticonnector was Finland’s only established means of importing natural gas, though it only accounts for 5% of electricity production.
Microplastics
They are what they sound like, tiny bits of plastic. Where do they come from? Where don’t they come from… Some even occur naturally. The industrial use of plastic revolutionized life in the 20th century. Consider its prevalence in all types of products, not to mention packaging, synthetic clothing, cosmetics, soaps, etc. Mircoplastics are a byproduct of production and a result of plastics breaking down over time.
They can now be detected almost anywhere it is possible to look. They are present in air, water, and soil samples; in the ice at both poles; even some clouds contain them. Recent studies have discovered them in every human tissue and 80% of blood samples. They were even discovered in breast milk for the first time. Potential health effects are unknown. Some studies are beginning to link high concentrations in humans and animals to neurological issues, metabolic disorders, subdued immune response and impaired reproduction. Plastics have been immeasurably beneficial to health and quality of life in other ways. They are practically irreplaceable, even if the downsides become prevalent or are fully substantiated.
Cats and Dogs
A police raid recently freed over 1000 felines in China. The animals were being transported for sale as meat, but disguised as pork or lamb. Eating cats and dogs is not widely popular in China (thus the subterfuge) but it is not illegal on the federal level either. Only certain cities have banned the practice, while the government has just recently restricted the sale of wild animals for consumption. Illicit substitutions are a problem however, as with the student who found a rat’s head in a meal the university tried to claim was duck. In South Korea, dog has been a longstanding traditional dish. It has declined in popularity though, and the government has recently banned it. There is a grace period for it to be phased out. Literally thousands of breeders, meat processing plants and restaurants are affected by the new law.
Poland’s Future
Recent elections left the ruling Law and Justice party short of the majority needed to remain in power. While receiving the most votes, no other party will agree to enter a coalition with them. It is expected that Donald Tusk (formerly Prime Minister and also President of the European Council from 2014-2019) will end up as Prime Minister. This represents a major change. Tusk is consistently pro-EU, and many of the contentions of recent years will likely be dropped. The change may also cause a $22 billion purchase of munitions from South Korea to fall apart. It will do nothing to smooth relations with Russia, however. Former President Medvedev is quoted as saying the deterioration of their relations, “could lead to the death of Polish statehood in its entirety.”
Mitigating AI Risks
The G7 agreed upon and issued guidelines in an attempt to make the development and deployment of artificial intelligence safer. It is in line with new legislation in the EU and an executive order in the US. The limitations are somewhat vague. The language includes phrases like “take appropriate measures,” “mitigate vulnerabilities,” and “work towards responsible information sharing.” There is an obvious problem in trying to regulate a technology with unknown capabilities and applications. There are also widely differing schools of thought on how quickly the technology should progress and how accessible it should be. Such divisions are believed to factor in the drama over OpenAI CEO Sam Altman. He was fired only to be reinstated days later, with the board responsible for the decision being ousted instead. Some believe AI must be deployed to progress, and to find and correct errors. Others fear an uncontrollable scenario where it makes decisions and takes action without human input. How it is applied and what safeguards are in place could very well make the difference.
