Crude oil and agricultural futures: An analysis of correlation dynamics

Correlations between oil and agricultural commodities have varied over previous decades, impacted by renewable fuels policy and turbulent economic conditions. We estimate smooth transition conditional correlation models for 12 agricultural commodities and WTI crude oil. While a structural change in correlations occurred concurrently with the introduction of biofuel policy, oil and food price levels are also key influences. High correlation between biofuel feedstocks and oil is more likely to occur when food and oil price levels are high. Correlation with oil returns is strong for biofuel feedstocks, unlike with other agricultural futures, suggesting limited contagion from energy to food markets.

Resilient Maroochydore 2029 : Urban Design Futures

Resilient Maroochydore 2029 This exhibition showcases the work of 4th year undergraduate Landscape Architecture students in response to issues of sustainability in Maroochydore on the Queensland Sunshine coast. The projects comprising this exhibition all investigate possible design futures for the Maroochydore Centre, in the light of a series of new disturbance scenarios. Specific disturbances upon the landscape have been imagined, and design resolutions developed based on resilience to these disturbances. The proposals investigate how the Maroochydore Centre might respond to these scenarios, and how future components of the Centre might be designed for greater ‘resilience’. The Exhibition Five groups of students (32 in total) produced five strategic planning and design options toward this future: Team Transect: “What happens to a region following a sustained period of economic prosperity, with affordable property and negligible unemployment? This proposal investigates the effects on a community of massive population explosion, land shortages and inadequate planning regulations following an extended boom period.” The Foodfighters: “This proposal considers the scenario of massive food shortages and of escalating prices, and the possibility of government intervention to stabilise food supply. Strategies based upon simplified, collaborative approaches to food production are investigated.” The TTMKG: “This proposal explores the scenario of Peak Oil and the subsequent effects on society of homelessness, large scale unemployment, food shortages and global financial and political instability. Individual opportunities are restricted by the limitations of bicycle transportation.” Team Peak: “Peak Oil has restricted private vehicle transport to only the most wealthy, while public transport systems are under immense pressure. Rising unemployment drives localised trade initiatives, and the global import/export market has collapsed. This proposal considers the transition of a community from its position in a global economy to that of a relocalised economy, where basic needs are secured as close to home as possible.” After the City: “A rapid population decline as a result of the region’s failing economy has resulted in a fragmented urban fabric. This proposal investigates the possibility of new suburbanisation, reinterpretation and reinvention of space through phased processes.”

Linkages among the US energy futures markets

This study investigates the price linkage among the US major energy sources, considering structural breaks in time series, to provide information for diversifying the US energy sources. We find that only a weak linkage sustains among crude oil, gasoline, heating oil, coal, natural gas, uranium and ethanol futures prices. This implies that the US major energy source markets are not integrated as one primary energy market. Our tests also reveal that uranium and ethanol futures prices have very weak linkages with other major energy source prices. This indicates that the US energy market is still at a stage where none of the probable alternative energy source markets are playing the role as substitute or complement markets for the fossil fuel energy markets.

Information flow, trading activity and commodity futures volatility

Based on unique news data relating to gold and crude oil, we investigate how news volume and sentiment, shocks in trading activity, market depth and trader positions unrelated to information flow covary with realized volatility. Positive shocks to the rate of news arrival, and negative shocks to news sentiment exhibit the largest effects. After controlling for the level of news flow and cross-correlations, net trader positions play only a minor role. These findings are at odds with those of [Wang (2002a). The Journal of Futures Markets, 22, 427–450; Wang (2002b). The Financial Review, 37, 295–316], but are consistent with the previous literature which doesn't find a strong link between volatility and trader positions.

Whisper our futures

Whisper Our Futures was an invited design proposal to produce a major public artwork for the State of Queensland’s 150th Anniversary Celebrations. It involved a network of 100 individual scrolling digital text boxes each with individual audio systems arranged together in a tessellated format. This form (specified by the originating brief) both mimicked the soaring gothic arches typical of Queensland cathedrals and was also suggestive of their stained glass windows. Each text module presented a message in both visual and audible forms for Queenslanders living 150 years hence - spoken both by the general public aw well as prominent figures. In this way the work was designed as a focus of future hope, historical reflection and inspiration to visitors to Queensland cathedrals throughout the entire year of celebrations (2009). The work was planned to premiere at Brisbane’s main Anglican Cathedral and then tour to nine other state cathedrals throughout 2009.---- Two staged proposals and budgets were invited throughout 2007. After the second successful proposal stage the State Premier and cabinet changed, ultimately leading the public art components to be dropped from the program. The proposal currently remains on file at the Queensland Premiers Office.

Enriching relationships : community engagment toward sustainable coastal futures

Coastal communities face the social, cultural and environmental challenges of managing rapid urban and industrial development, expanding tourism, and sensitive ecological environments. Enriching relationships between communities and universities through a structured engagement process can deliver integrated options towards sustainable coastal futures. This process draws on the embedded knowledge and values of all participants in the relationship, and offers a wide and affordable range of options for the future. This paper reviews lessons learnt from two projects with coastal communities, and discusses their application in a third. Queensland University of Technology has formed collaborative partnerships with industry in Queensland's Wide Bay-Burnett region to undertake a series of planning and design projects with community engagement as a central process. Senior students worked with community and produced design and planning drawings and reports outlining future options for project areas. A reflective approach has been adopted by the authors to assess the engagement process and outcomes of each project to learn lessons to apply in the next. Methods include surveying community and student participants regarding the value they place on process and outcomes respectively in planning for a sustainable future. All project participants surveyed have placed high importance on the process of engagement, emphasising the value of developing relationships between all project partners. The quality of these relationships is central to planning for sustainable futures, and while the outcomes the students deliver are valued, it is as much for their catalytic role as for their contents. Design and planning projects through community engagement have been found to develop innovative responses to the challenges faced by coastal communities seeking direction toward sustainable futures. The enrichment of engagement relationships and processes has an important influence on the quality of these design and planning responses.

Education futures : transforming teacher education in the middle years

The young people who populate our classrooms live in a changed and rapidly changing society: a society where information is the most valued commodity and where traditional ‘truth’s such as nation and family are increasingly destabilized and fragmented. Educators at primary, secondary and tertiary level must, with some urgency, address issues relating the emergence of new citizenships and identities, the impact of new technologies and new economies. Our pedagogy and curriculums must be relevant to the need of students now and in the future. The School of Education, The University of Queensland is addressing issues of change, new technologies, new work places, critical citizenry and the need for pedagogical and curriculum innovation through the development of a new Middle Years of Schooling Dual Degree program. This program is designed to equip pre-service teachers to approach pedagogy and curriculum in innovative ways and to challenge them to embrace diversity and change. This paper outlines the key features of the Middle Years of Schooling Dual Degree, identifying a number of innovative approaches to pre-service teacher education.