Newsflash: economist’s prediction is right!

Writing in the NY Times Freakonomics blog last week, Australian economist Justin Wolfers correctly predicted the key winners at the Oscars (getting any prediction right must be a major accomplishment for an economist!). Here he also explains the new voting system at the Oscars, which is the same preferential system used in Australian politics. The article is An Economist’s View of the New Oscar Voting.

We need to be more strategic about how we tackle greenhouse gases

Do we need to tackle climate change and peak oil on all fronts or would it be more strategic to focus on priority areas?

This question is prompted by reading Victoria’s Greenhouse Gas Emissions, 1990-2005, prepared for the 2008 Victorian Climate Change Summit by George Wickenfield & Assocs. This report calculates that 64.4% of all carbon emissions in Victoria are generated by the residential, commercial and manufacturing sectors. Almost all of these emissions are in the form of electricity generated by brown coal.

In contrast, all passenger transport in Victoria – by both car and public transport – generates only 13.9% of the State’s total carbon emissions. That’s less than a quarter of what the electricity sector generates. Read the rest of this entry »