Knights Templar win heresy reprieve after 700 years

Saturday, October 13th, 2007

When I saw this story, I naturally thought, too little, too late. Knights Templar win heresy reprieve after 700 years:

The Knights Templar, the medieval Christian military order accused of heresy and sexual misconduct, will soon be partly rehabilitated when the Vatican publishes trial documents it had closely guarded for 700 years.

I could not imagine that the Vatican would turn the whole disreputable thing into a collectible:

A reproduction of the minutes of trials against the Templars, “‘Processus Contra Templarios — Papal Inquiry into the Trial of the Templars’” is a massive work and much more than a book — with a 5,900 euros ($8,333) price tag.

“This is a milestone because it is the first time that these documents are being released by the Vatican, which gives a stamp of authority to the entire project,” said Professor Barbara Frale, a medievalist at the Vatican’s Secret Archives.

“Nothing before this offered scholars original documents of the trials of the Templars,” she told Reuters in a telephone interview ahead of the official presentation of the work on October 25.

The epic comes in a soft leather case that includes a large-format book including scholarly commentary, reproductions of original parchments in Latin, and — to tantalize Templar buffs — replicas of the wax seals used by 14th-century inquisitors.

Reuters was given an advance preview of the work, of which only 799 numbered copies have been made.

One parchment measuring about half a meter wide by some two meters long is so detailed that it includes reproductions of stains and imperfections seen on the originals.

Pope Benedict will be given the first set of the work, published by the Vatican Secret Archives in collaboration with Italy’s Scrinium cultural foundation, which acted as curator and will have exclusive world distribution rights.

It’s all so…OJ.

Wargaming the Schlieffen Plan

Saturday, October 13th, 2007

I recently cited Matthew Caffrey’s Toward a History-Based Doctrine for Wargaming, which is chock full of wargaming anecdotes, like this one on wargaming the Schlieffen plan:

The younger Moltke [the nephew of the great Moltke] started by going to the kaiser, a childhood friend (thanks to his famous uncle). He privately told the kaiser that the latter’s strategizing during the staff rides was closing off rigorous debate. The kaiser agreed to desist.

Next, Moltke examined the wargames themselves. When he discovered that the effect of machine guns on the games was not being considered, he was told there was insufficient data to precisely predict their impact on attrition. Moltke saw to it that data acquired from the Russo-Japanese War could be used. He then asked why logistics were not being included. When told that wargames could not account for logistics, he pointed out that the Italian wargames had included logistics for decades.

Moltke then used his more objective and comprehensive wargame to test the Schlieffen plan. The game indicated that the two armies on the outside of the great wheel would run out of ammunition two days before the campaign ended. Moltke saw to it that Germany organized the first two motorized units of any army anywhere in the world — two ammunition supply battalions.

Windbelt

Saturday, October 13th, 2007

A Windbelt is much more efficient than a wind turbine at low wind speeds:

Working in Haiti, Shawn Frayne, a 28-year-old inventor based in Mountain View, Calif., saw the need for small-scale wind power to juice LED lamps and radios in the homes of the poor. Conventional wind turbines don’t scale down well — there’s too much friction in the gearbox and other components. “With rotary power, there’s nothing out there that generates under 50 watts,” Frayne says. So he took a new tack, studying the way vibrations caused by the wind led to the collapse in 1940 of Washington’s Tacoma Narrows Bridge (aka Galloping Gertie).

Frayne’s device, which he calls a Windbelt, is a taut membrane fitted with a pair of magnets that oscillate between metal coils. Prototypes have generated 40 milliwatts in 10-mph slivers of wind, making his device 10 to 30 times as efficient as the best microturbines. Frayne envisions the Windbelt costing a few dollars and replacing kerosene lamps in Haitian homes. “Kerosene is smoky and it’s a fire hazard,” says Peter Haas, founder of the Appropriate Infrastructure Development Group, which helps people in developing countries to get environmentally sound access to clean water, sanitation and energy. “If Shawn’s innovation breaks, locals can fix it. If a solar panel breaks, the family is out a panel.”

Frayne hopes to help fund third-world distribution of his Windbelt with revenue from first-world applications — such as replacing the batteries used to power temperature and humidity sensors in buildings. “There’s not a huge amount of innovation being done for people making $2 to $4 per day,” Haas says. “Shawn’s work is definitely needed.”

Couture stuns MMA world with retirement

Saturday, October 13th, 2007

Couture stuns MMA world with retirement:

With little interest at age 44 of fighting anyone other than the man regarded as the best mixed martial artist in the world, UFC heavyweight champion Randy Couture announced his retirement Thursday.

Couture, a five-time champion and UFC Hall of Famer, had hoped to land a bout with Fedor Emelianenko, the top-rated fighter in the Yahoo! Sports MMA poll of the world’s best fighters.

But when reports surfaced Wednesday that Emelianenko had spurned the UFC to sign with the Russian-based M-1 Mix Fight organization, Couture opted to retire. The story was broken by Brian Knapp of The Fight Network, which has a business relationship with Couture.

“I’m tired of swimming upstream at this stage with the management of the UFC,” Couture told Knapp. “It only makes sense at this point in my career to fight Fedor Emelianenko, and since he’s now signed with another organization, I feel like it’s time to resign and focus on my other endeavors.”

Now, Dana White’s reaction could determine MMA’s future:

White blamed what’s becoming his personal whipping boy – MMA web sites and forums – for spreading phony rumors about fighter pay. Couture, who is in South Africa filming a movie and couldn’t be reached for comment Thursday, released a statement in which he said he was retiring because the UFC didn’t sign Fedor Emelianenko and no other fight mattered to him.

He also said he was upset with UFC management for what he believed was low pay. He made that point in a breakfast meeting last month with White and UFC owner Lorenzo Fertitta.

“He felt he was not getting paid as much as Mirko Cro Cop, as much as this guy and as much as that guy,” White said. “We told him he was our second-highest paid fighter, but he didn’t believe us. Chuck’s the only guy who makes more, but he kept hearing all these rumors and he wouldn’t believe us.”

White then launched into a tirade against what he called “the rumor mongerers on the Internet,” whom he said are, “the lowest of the low.”

He said fighters read those sites and believe them to be true, causing friction at the negotiating table.

“This business is like a beauty salon,” he said. “These guys are all the toughest guys in the world, but they’re like (expletives) in a beauty salon. They pass along rumors and gossip, which has no basis in reality and they believe all the (rumors) they hear. The Internet is very powerful and one of the best promotional tools we have, but it’s a crazy place.

“They hear these rumors and they believe them and then they get insulted like (expletives) after we try to talk reality with them. They’ll say, ‘Well, this guy is getting this much,’ but when I ask where they heard it, it’s never a contract, it’s always, ‘I read it on the Internet.’ It’s crazy.”

Of course, to me, the real story is still that MMA [mixed martial arts] is getting MSM [mainstream media] coverage.

Addendum: On that note, ESPN has an interview with Randy, who’s in South Africa, filming on location, right now.

Report Urges U.S. to Pursue Space-Based Solar Power

Saturday, October 13th, 2007

A Pentagon-chartered Report Urges U.S. to Pursue Space-Based Solar Power for the dubious reason that it could help “avoid future conflicts over oil” — and for a much more credible reason:

Aside from its potential to defuse future energy wars and mitigate global warming, Damphousse said beaming power down from space could also enable the U.S. military to operate forward bases in far flung, hostile regions such as Iraq without relying on vulnerable convoys to truck in fossil fuels to run the electrical generators needed to keep the lights on.

As the report puts it, “beamed energy from space in quantities greater than 5 megawatts has the potential to be a disruptive game changer on the battlefield. [Space-based solar power] and its enabling wireless power transmission technology could facilitate extremely flexible ‘energy on demand’ for combat units and installations across and entire theater, while significantly reducing dependence on over-land fuel deliveries.”
[...]
Military officials involved in the report calculate that the United States is paying $1 per kilowatt hour or more to supply power to its forward operating bases in Iraq.

“The biggest issue with previous studies is they were trying to get five or ten cents per kilowatt hour, so when you have a near term customer whose potentially willing to pay much more for power, its much easier to close the business case,” Miller said.

Let’s hope the Chinese don’t start selling those anti-satellite missiles to our enemies.

Toward a History-Based Doctrine for Wargaming

Friday, October 12th, 2007

Despite its unwieldy title, Matthew Caffrey’s Toward a History-Based Doctrine for Wargaming is a fascinating piece with a lot to say about leadership and organizational change:

Today we think of Napoléon as a great military genius, but other factors also played a part in his military success. One factor was that the French Revolution produced a meritocracy. Previously, only children of officers could become officers. Now, half of Napoléon’s marshals had once been common soldiers. Also, a democracy could field a far larger army than a similar-sized monarchy. Genius, meritocracy, and numbers — Prussia would invent modern wargaming while endeavoring, successfully, to overcome all these French advantages.

[...]

While Prussia had used nationalism to overcome France’s advantage in recruiting, it found that adopting a meritocracy was more difficult. Prussia’s solution was to pair commanders selected for their nobility with chiefs of staff selected by merit. Because the only chance even members of the petty nobility had of attaining high rank was selection for the staff corps, virtually all officers wanted to be selected. However, only graduates of the War College were eligible. Moltke now required that each application package include a letter from the applicant’s commander, evaluating his performance as the senior umpire for a wargame. It worked.

When the successful applicants became War College students, Moltke saw to it that they did a great deal more wargaming. Wargaming appears to have always been part of the curriculum at the War College, but Moltke added several innovations collectively called the “staff ride.”

Periodically, Moltke would take the entire student body of the War College to one of the actual invasion corridors into Prussia. Moltke would then describe the most likely first clash between invading and Prussian forces. He would then turn to the most junior student present and ask for his plan of battle. Next he would ask the second most junior, then the third, and so on. Why? If the most senior spoke first, would any disagree?

After arriving at a consensus battle plan, they then played a map-based wargame. Moltke would then name the senior ranking general (aside from himself) to command the invading forces and the second-ranking general to command the Prussian forces. He continued thusly until they were split into two equal teams. Why? Moltke believed that if their plan could succeed against some of their smartest strategists, it would probably also succeed against any enemy strategist. Also, with two equal-sized teams, more officers could participate meaningfully. The next day, he would contact the local garrison (remember the staff ride was being conducted in an actual invasion corridor, so there would always be a garrison). He would direct the garrison commander to march a few hundred soldiers where the plan called for thousands to march. This was done to test the marching times and other details of the plan. When all this was done, the plan went on the shelf as the actual plan for an invasion along that corridor.

Now let us think about all this for a minute. Moltke started with an “off site” (to an environment conducive to candor and free thinking), had a team brainstorm to reach a consensus, tested the resulting plan against a world-class adversary, and finally tested the results with a field exercise. Essentially, he used many smart people and effective procedures to create a plan worthy of a genius, eliminating Napoléon’s final advantage of genius. With all our technology, are we really this conceptually sophisticated today?

Moltke’s politically astute processes did not last:

A series of books published between 1873 and 1876 argued persuasively for a radically different type of wargame. The concept was simple. Wargames have always been unpopular due to the cumbersome, time-consuming rules of adjudication. Therefore, combat-experienced officers were allowed to substitute their military judgment for many of these rules. This would result in games that were faster and thus more popular, hence played more often.

At first, Free Kriegsspiel seemed to work well. At its best, the professional judgment of experienced combat veterans could produce more accurate outcomes in less time. There were two problems, however. First, Germany’s veterans of 1871 gradually aged, retired, and died. Their replacements could not adjudicate with the same authority. The second problem is today called “command influence.” When one of the players outranked the umpire, that player tended to value his professional judgment over that of the umpire.

Nowhere was this problem more visible or more damaging than in the case of Kaiser Wilhelm II. Thinking himself a great military genius, Kaiser Wilhelm never missed a staff ride. The rides still started on a hill overlooking a possible invasion corridor. Just when Moltke would have asked the most junior officer for his opinion, the kaiser would immediately announce the “perfect” battle plan. You can imagine the level of debate. Then, during the actual wargame, instead of having the teams split evenly, everyone wanted to be on the kaiser’s team. The results were predictable; the kaiser’s side always won. It was Germany’s loss.

[...]

Arguably the most decisive wargames of all time were played in 1905. That was the only year Count Alfred von Schlieffen’s plan for a wide-turning movement through neutral Belgium and Holland was wargamed before his retirement. Virtually all present were on the kaiser’s (German) team, while two first lieutenants played on the side of the armies of France, Britain, Belgium, and Holland. The wargame concluded with the destruction of the French army so quickly that the British did not have time to come to the aid of France. The kaiser was pleased.

Thorough Research for Horror Novel

Friday, October 12th, 2007

Jose Luis Calva of Mexico City is under arrest after performing some extremely thorough research for his horror novel, Cannibalistic Instincts:

An aspiring horror novelist was arrested after police discovered his girlfriend’s torso in his closet, a leg in the refrigerator and bones in a cereal box, the city prosecutor’s spokesman said Thursday.

He told police he had boiled some of his girlfriend’s flesh but that he hadn’t eaten it — yet.

(A tip of my sombrero to Enrique.)

Vin Diesel on D&D

Thursday, October 11th, 2007

It looks like Vin Diesel‘s PR people tried to get him to disavow his gaming past — and Vin didn’t play along quite as they intended during this Chronicles of Riddick interview:

Q: Is it true you’re really into Dungeons and Dragons?

Vin: No. I never play D&D. For some reason, they thought that I played D&D for 20 years. They thought that I spent years playing Barbarians, Witchunters, The Arcanum. They thought I played D&D back in the ’70s when it’s just the basic D&D set. They thought I continued to play D&D when it became Advanced Dungeons and Dragons. They thought I played D&D when there were only three books: the Player’s Handbook, the Monster Manual and the Dungeon Masters Guide. They thought I played D&D as it continued on to the Unearthed Arcanum, Oriental Adventures, Sea Adventures, Wilderness Adventures. They thought I played D&D at the time when Deities and Demigods was the brand new book. They thought I played D&D when I used to get up to a place called The Complete Strategist in New York.

[Mouths: "I'm into D&D a lot."]

How Baboons Think (Yes, Think)

Thursday, October 11th, 2007

Understanding How Baboons Think (Yes, Think) is valuable, because, as Darwin jotted down in his notebook in 1838, “He who understands baboons would do more towards metaphysics than Locke.”

Doctors Dorothy Cheney and Robert Seyfarth of Penn have spent 14 years observing the Moremi baboons, and they have summed up their findings in Baboon Metaphysics: The Evolution of a Social Mind:

“Monkey society is governed by the same two general rules that governed the behavior of women in so many 19th-century novels,” Dr. Cheney and Dr. Seyfarth write. “Stay loyal to your relatives (though perhaps at a distance, if they are an impediment), but also try to ingratiate yourself with the members of high-ranking families.”

Baboon society revolves around mother-daughter lines of descent. Eight or nine matrilines are in a troop, each with a rank order. This hierarchy can remain stable for generations.

By contrast, the male hierarchy, which consists mostly of baboons born in other troops, is always changing as males fight among themselves and with new arrivals.

Rank among female baboons is hereditary, with a daughter assuming her mother’s rank.

News of that fact gave great satisfaction to a member of the British royal family, Princess Michael of Kent. She visited Dr. Cheney and Dr. Seyfarth in Botswana, remarking to them, they report: “I always knew that when people who aren’t like us claim that hereditary rank is not part of human nature, they must be wrong. Now you’ve given me evolutionary proof!”

How any why is this the case?

For female baboons, another constant worry besides predation is infanticide. Their babies are put in peril at each of the frequent upheavals in the male hierarchy. The reason is that new alpha males enjoy brief reigns, seven to eight months on average, and find at first that the droits de seigneur they had anticipated are distinctly unpromising. Most of the females are not sexually receptive because they are pregnant or nurturing unweaned children.

An unpleasant fact of baboon life is that the alpha male can make mothers re-enter their reproductive cycles, and boost his prospects of fatherhood, by killing their infants. The mothers can secure some protection for their babies by forming close bonds with other females and with male friends, particularly those who were alpha when their children were conceived and who may be the father. Still, more than half of all deaths among baby baboons are from infanticide.

So important are these social skills that it is females with the best social networks, not those most senior in the hierarchy, who leave the most offspring.

The Birds

Thursday, October 11th, 2007

Alfred Hitchcock’s The Birds was one of those classic movies I felt like I’d seen, because I’d repeatedly seen all the iconic imagery — particularly the primitive, analog special effects.

But when I recently watched the whole thing from start to finish, I realized how little of it consists of fake-looking bird attacks — well, fake to my modern eye:

The use of standard blue screen techniques for doing matte shots of the birds proved to be unacceptable. The rapid movement of the birds, especially their wings, caused excessive blue fringing in the shots. It was determined that the sodium vapor process could be used to do the composites. The only studio in America that was equipped for this process was the Walt Disney studio. Ub Iwerks, who had become the world’s leading expert on the sodium vapor process, was assigned to this production.

By the way, not all of the bird attacks looked fake, not by a long shot:

The scene where Tippi Hedren is ravaged by birds near the end of the movie took a week to shoot. The birds were attached to her clothes by long nylon threads so they could not get away. [...] Hedren has been quoted as saying it was “the worst week of my life”. The physical and emotional tolls of filming this scene were so strong on her, production was shut down for a week afterward.

Anyway, the entire first act of the film contains no bird attacks. It consists almost entirely of witty repartee and the “threat” of romance, not horror. If I saw this as a kid — which I’m not sure I did — I am sure that I changed the channel or wandered off.

Even the second and third acts largely live up to Hitchcock’s adage that “There is no terror in a bang, only in the anticipation of it,” as our protagonists end up in a boarded-up house, waiting as their inhuman foes inexplicably try to break in and kill them — oddly like Romero’s Night of the Living Dead.

(Incidentally, if you buy Night of the Living Dead, get the Millennium Edition from Elite, not one of the cheap copies, and not one of the edited special editions.)

NPR : Colbert Builds ‘Report’ with Viewers, Readers

Thursday, October 11th, 2007

NPR recently interviewed Stephen Colbert, whose new book, I Am America (And So Can You!), just came out.

In addition to the audio interview, NPR presents an excerpt from the book:

Now, you might ask yourself, if by yourself you mean me, “Stephen, if you don’t like books, why did you write one?” You just asked yourself a trick question. I didn’t write it. I dictated it. I shouted it into a tape recorder over the Columbus Day weekend, then handed it to my agent and said, “Sell this.” He’s the one who turned it into a book. It’s his funeral.

But I get your “drift.” Why even dictate?

Well, like a lot of other dictators, there is one man’s opinion I value above all others. Mine. And folks, I have a lot of opinions. I’m like Lucy trying to keep up with the candy at the chocolate factory. I can barely put them in my mouth fast enough.

In fact, I have so many opinions, I have overwhelmed my ability to document myself. I thought my nightly broadcast, The Colbert Report (check your local listings), would pick up some of the slack. But here’s the dirty little secret. When the cameras go off, I’m still talking. And right now all that opinion is going to waste, like seed on barren ground. Well no more. It’s time to impregnate this country with my mind.

See, at one time America was pure. Men were men, women were women, and gays were “confirmed bachelors.” But somewhere around the late 60′s, it became “groovy” to “let it all hang out” while you “kept on truckin’” stopping only to “give a hoot.” And today, Lady Liberty is under attack from the cable channels, the internet blogs, and the Hollywood celebritocracy, out there spewing “facts” like so many locusts descending on America’s crop of ripe, tender values. And as any farmer or biblical scholar will tell you, locusts are damn hard to get rid of.

The Circus of Dr. Lao

Wednesday, October 10th, 2007

I’d been meaning to read The Circus of Dr. Lao for a few years now, and with Halloween on the way, I decided to pull it off the shelf and to move it to the top of the reading stack. I must say that it’s quite an unusual book, one that seems well ahead of its time in any number of ways.

A few of the reviews on Amazon ably make the point, like this review from Steven R. Dandois, ostensibly of Zothique:

File under “Apocalyptica Sardonicus”
Reading the other reviews here reminds me of the old saw about the blind men and the elephant — how one (feeling its legs) describes it as resembling a tree; one (feeling its trunk) describes it as like a rope; et cetera. The simple fact is you can’t experience this particular elephant unless you read it for yourself. It is truly sui generis.

As for the negative comments that some have lobbed at this book, I can only laugh bitterly and loudly. For the whole concept of the book is about a small-minded town that’s exposed to an act of real and genunine magic — and how the town misses the point utterly. They’re limited by their blinders, and perceive only that which can be easily categorized within their existing worldviews. Draw what parallels you may….

Be warned that despite its labelmates in the Bison series, this “Circus” has as much in common with William S. Burroughs as Edgar Rice… and psychedelic/anarchist philosopher Robert Anton Wilson owes this slim tome a debt of gratitude. (His “catalog” of characters and ideas at the back of his “Illuminatus! Trilogy” is an obvious homage to the similar catalog appendixed here.)

The “Circus” is luminous and lyrical, shifting gears from rhapsodic flights of fantasy to bitter and insightful jibes at humanity’s foibles. And it’s probably my all-time favorite book, ever. It invites and withstands re-reading after re-reading.

This review by Mark Shanks also hits its mark:

Amazingly bitter, cynical, and sardonic — I loved it!
Finney writes as though he had been possessed by the spirit of Ambrose Bierce, and to me, that’s a good thing. More of a short story than a novel (I last read it in the space of a single afternoon), “The Circus” shines light in many directions and is best appreciated after more than a single reading. Frankly, I’m astonished that it got published in the first place, and even more surprised that it here receives what amounts to a “Criterion Collection” sort of treatment, including reproductions of the illustrations by Boris Artzybasheff from the first edition.

The citizens of Abalone (plus a few visitors) are scathingly protrayed in amazingly understated passages. Presented with actual unicorns, satyrs, sea serpents, mermaids, and other “fabulous” creatures and miracles, hardly any of the townspeople can muster more than a yawn and a shrug. The ultimate spectacle, the sacrifice of a virgin to the giant bronze god of the rotten-to-the-core city of Woldercan, is absolutely a gem.

The use of several racial epithets does nothing to reflect on Finney — it doesn’t take a super-astute reader to understand Finney is reflecting on his characters, yes, even in 1935.

As most reviewers have noted — this is not a children’s book. And while the Tony Randall film of 1960 has some of its own charm (thank you, Barbara Eden!!), it is a kiddy-fied, watered-down version of this story. It was probably Finney’s experience as a newspaperman that soured him on human nature — it must be an occpational hazard, since he shares that experience with the afore-mentioned Bierce as well as with another arch-cynic, Cyril Kornbluth of “Marching Morons” fame. The writing style varies (intentionally) from pulp to inspired to crisp and concise, sometimes all on a single page. Obviously not a book for everyone, but I find it refreshing, enlightening, and supremely entertaining.

The Tony Randall movie, Seven Faces of Dr. Lao, was, despite all the wonderful five-star reviews, almost unwatchable.

Solar’s Day In The Sun

Wednesday, October 10th, 2007

Solar’s Day In The Sun will have arrived when solar power costs less than 10 cents per kilowatt-hour — and new solar concentrators may be about to reach that goal:

The parabolic troughs work well. But the mirrors, among other things, have to be very precise, making them difficult and expensive to build. The original series of plants in the Mojave managed to bring the cost down from 28 cents per kwh to 16 cents, while the newer ones are a penny or two cheaper. But O’Donnell was determined to start at 10 cents and go down from there.

So was there something better and less costly?

O’Donnell stumbled on the answer thumbing through a scientific journal at an engineering society meeting in May, 2006. A paper by University of Sydney professor David Mills described a field of almost flat mirrors focusing the sun’s rays on fixed tubes held by poles above the mirrors (diagram). Such mirrors are easier and cheaper to build than the parabolic troughs, and can be made strong enough to withstand Florida’s hurricanes. And rather than using the troughs’ oil-filled tubes, which sap power to pump the oil, Mills uses the sun’s heat to turn water directly into steam. “It just riveted me. I thought: ‘Whoa, Mills is either a genius or a madman,” O’Donnell recalls. “If it can compete with coal even at the beginning of the learning curve, it will change the world.”

The more he learned, the more intrigued he became. Mills had been working on solar technologies for three decades. In 2002 he had hooked up with local businessman Peter Le Lièvre, who had been building vehicles with liftgates that ranchers use to hoist and transport sheep.

In a rented garage, Le Lièvre bolted together the parts for the first mirror. His team barely got it out between the garage’s pillars. But it worked. “That first mirror had great focus,” says Le Lièvre. “It would burn the hairs off the back of your hand.” On a shoestring, they assembled 60 mirrors into a 1-MW array next to a coal plant in Liddell, New South Wales. When they flipped the switch, steam gushed out. “Everyone was aghast that it worked the first time,” says Mills.

Here’s the finance angle:

Coal plant builders have been able to count on 80% to 90% debt at an interest rate of 5.5% to 6%. Their equity investors expect about an 11% return on equity. That puts the average cost of capital at about 7%. But since no one has built a giant solar plant, investors demand a risk premium. O’Donnell’s equity investors want a richer 20% rate of return. Plus, he can get only 50% debt, at an interest rate of 7.5%. As a result, the overall cost of capital for Ausra’s first plants is 12%.

The hope, therefore, is that the first few large plants show investors that the risk is low, causing the future cost of capital to drop. That would enable Ausra to lower the price below the current 10.4 cents. “Once people build one or two units, the financial risk premium goes away,” explains Jim Ferland, senior vice-president at New Mexico utility PNM.

Irrational incandescence

Wednesday, October 10th, 2007

The Economist calls it Irrational incandescence noting that “People can’t be bothered to make easy energy savings”:

Some ways of cutting carbon are cheaper than others. So, at different carbon prices, different sorts of methods of abatement become worthwhile. Vattenfall, a Swedish power utility, has tried to quantify which ones would be worth undertaking at what price (see chart 3).



The result is a testament to economic irrationality. The measures below the horizontal line have a negative abatement cost—in other words, by carrying them out, people and companies could both cut emissions and save money. At a macroeconomic level they would boost, rather than reduce, economic growth.

Lighting, for instance, accounts for some 19% of the world’s electricity use. A standard incandescent light bulb costs around €1, says Theo van Deursen, chief executive of Philips Lighting, and uses €15-worth of electricity a year. A low-energy one costs €5-6 and uses €3-worth. The payback on investing in a compact fluorescent bulb, therefore, is less than a year. Yet low-energy lighting makes up only 30% of Philips’s sales. Mr van Deursen admits to being disappointed. Sales are rising faster in the developing world: there, people pay more attention to electricity bills than they do in the rich world.

10 ways the world could end

Tuesday, October 9th, 2007

Stephen Petranek discusses 10 ways the world could end — with potential solutions:

Naturally, this leads me to think about Lucifer’s Hammer and the challenge of bootstrapping society.