The Emission Trading Scheme reform: will the Commission's proposal save the system? EPC Policy Brief, 29 May 2015

The European Union’s Emission Trading Scheme (ETS), proposed by the Commission in 2001, entered into force in 2005. It was the flagship instrument of an ambitious policy aiming to reduce the emission of greenhouse gasses in the EU by making emission allowances a freely tradable ‘financial commodity’. However, in recent years, the cracks in the system have begun to show as the price of these CO2 emission allowances has dropped. In this Policy Brief, Jørgen Knud Henningsen argues that the envisaged ETS reform may not be enough to address the system’s shortcomings, and that there should be a more open discussion about its potential if it is to contribute to the EU’s goal of a largely de-carbonised economy by 2050.

Reform #1. Why Ukraine has to reform its gas sector. OSW COMMENTARY NUMBER 181/01.09.2015

In April 2015, the Ukrainian parliament passed a long-awaited law on the gas sector which paves the way for the extremely difficult process of reforming and de-monopolising the Ukrainian gas sector. The law will come into force on 1 October 2015 and involves the break-up of the state-owned company Naftogaz, the current monopolist, and the gradual creation of a competitive gas market in line with the so-called Third Energy Package. At the same time, a threefold increase in the price of gas paid by individual customers and the public sector was introduced. The price had been subsidised for years and no previous government had ever decided to raise it.

Modulated entry /

"The technique of modulation, or variable coefficients, is discussed and the analytical formulation is reviewed. Representative numerical results of the use of modulation are shown for the lifting and nonlifting cases. These results include the effects of modulation on peak acceleration, entry corridor, and heat absorption. Results are given for entry at satellite speed and escape speed. The indications are that coefficient modulation on a vehicle with good lifting capability offers the possibility of sizable loading reductions or, alternatively, wider corridors; thus, steep entries become practical from the loading standpoint. The amount of steepness depends on the acceptable heating penalty. The price of sizable fractions of the possible gains does not appear to be excessive."

Financial pamphlets

A collection of miscellaneous pamphlets on finance.

Wounds in the rain: war stories,

The price of the harness.--The lone charge of William B. Perkins.--The clan of No-name.--God rest ye, merry gentlemen.--The revenge of the Adolphus.--The sergeant's private madhouse.--Virtue in war.--Marines signalling under fire at Guantanamo.--This majestic lie.--War memories.--The second generation.

La question sociale : le chèque barré /

Appendix (p.[209]-217): Table of the fall of the interest rate and the corresponding rise in the price of "titres" between 1816 and 1890.

Where is your corn going, neighbor?

Two trails of corn lead from a bushel basket to "honest pork" and to whiskey. Accompanied by a breakdown of the retail price of whisky

Risk exposures and international diversification: Evidence from iShares

We examine the newly developed international diversification instruments–iShares traded on the American Stock Exchange. Given the fact that iShares can be created and redeemed at will, the daily price of an iShare is expected to be equal to the daily portfolio value of the underlying assets in the home-country market. Therefore, theoretically, iShare pricing should be influenced by the risk from the iShare's home-country market and not the risk from the US market, per se. We evaluate the risk exposure of iShare prices to the US market (non-fundamental effect) as well as the home-country market (the fundamental effect). We find that most iShare returns are significantly influenced by and sensitive to the US market risk. Moreover, the US market appears to be the key permanent driving factor and the home-country market is a pronounced transitory driving force for iShare prices. These findings indicate the presence of limits of international arbitrage for iShares. As a result, the international diversification benefits of iShares become questionable.

Matching poultry production with available feed resources: issues and constraints

Corn and soyabeans may not be available in many countries particularly those which do not have sufficient foreign currency or the capacity to grow them. This paper outlines strategies that may be important under these circumstances. Alternative feedstuffs and various feeding systems may be used to support poultry production. Alternative ingredients such as rice bran, pearl millet, cottonseed meal and grain legumes are discussed. Evidence is presented showing that amino acid requirements of layers and broilers may be too generous particularly in countries where climate, management and disease can impose production constraints. The ability of finishing broilers to perform well on very low-energy diets allows the inclusion of alternative feeds and by-products into formulations. Very low protein diets based on cereals and free amino acids can be used for layers without loss of performance. Self-selection of feedstuffs may be an important strategy in reducing feed costs of broilers and layers. The concept of matching production with available feed resources may compromise broiler growth and egg production, but in many countries this may be the most economical choice. Countries in the humid tropics usually have reduced poultry performance. The effects of high temperature and humidity are difficult to overcome. The vexed questions of the escalation in the price of fossil fuel and the outbreak of avian influenza, both seemingly without a solution, are clouds hanging over an otherwise buoyant industry.

Documenting the heroin shortage in New South Wales

Australian heroin markets have recently undergone dramatic change, sparking debate about the nature of such markets. This study aimed to determine the onset, peak and decline of the heroin shortage in New South Wales (NSW), using the most appropriate available methods to detect market level changes. The parameters of the heroin shortage were determined by reviewing: reports of heroin users about availability and price (derived from the existing literature and the Illicit Drug Reporting System); qualitative interviews with injecting drug users, and health and law enforcement professionals working in the illicit drug field; and examining data on heroin seizures over the past decade. There was a marked reduction in heroin supply in NSW in early 2001. An increase in the price of heroin occurred in 2001, whereas it had decreased steadily since 1996. A reduction in purity also occurred, as reported by drug users and heroin seizures. The peak period of the shortage appears to have been January to April 2001. The market appears to have stabilised since that time, although it has not returned to pre- 2001 levels: heroin prices have decreased in NSW for street grams, but not to former levels, and the price of `caps' (street deals) remain elevated. Heroin purity in NSW has remained low, with perhaps a 10% increase above the lowest recorded levels. These data support the notion that the heroin market in NSW underwent significant changes, which appear to have involved a lasting shift in the nature of the market.

Technical and economic factors in applying the enhanced coalbed methane recovery process

Geological sequestration of CO2 is a technically feasible and potentially economic option for significantly and safely reducing greenhouse gas emissions, with CO2 injection already practiced in Canada and the USA to enhance crude oil production. The Enhanced Coalbed Methane (ECBM) process is seen as the next most economical sequestration options. The authors estimate an incremental methane recovery factor from 20% to 50%, depending on coal rank and seam depth. Others have estimated the potential to increase worldwide CBM production, utilising ECBM, by 18 Trillion cubic meters, while simultaneously sequestering 345 Giga tonnes of CO2. This paper presents technical and economic factors to consider for developing a commercial ECBM project. Technical factors include: geostructural and hydrogeological issues, geochemical reactions, stressed and competitive sorption, counter-diffusion, effective and relative 4-D coal permeability and methane recovery levels. Key economic factors are injectant acquisition price, sale price of methane and the level of carbon credits.

UM ESTUDO PRELIMINAR DAS INFLUÊNCIAS DO MERCADO DE COMMODITIES NA VARIAÇÃO DO CUSTO DA ALIMENTAÇÃO DO TRABALHADOR: ANÁLISE DE RISCO DA SEGURANÇA ALIMENTAR E NUTRICIONAL

A Segurança Alimentar e Nutricional do trabalhador brasileiro é uma das formas de garantia de saúde e conseqüente aumento de produtividade refletido pelo compromisso do PAT Programa de Alimentação do Trabalhador que completou 30 anos em 2006. O objetivo do estudo é relacionar a variação de preços das commodities de alimentos presentes na refeição do trabalhador de acordo com o sistema normativo do PAT, identificando possíveis conseqüências negativas à Segurança Alimentar do Trabalhador no Brasil. A metodologia, por meio da análise de regressão múltipla, utiliza os dados de ICV Índice de Custo de Vida - de alimentação fora do domicílio como proxy a alimentação do trabalhador. Os resultados sugerem que os alimentos que apresentaram variação negativa com os tipos de refeições analisadas, como a carne suína e a soja, podem ser substituídos por outro valor nutricional semelhante como a carne bovina, o frango e o óleo de milho. Apenas a variação do preço do feijão foi seguida pelo aumento do preço do prato comercial, cuja alternativa é a mudança na maneira de oferecer a refeiç ão ao trabalhador, como os restaurantes por quilo. Diante do cenário exposto, há indícios de que a variação de preços dos alimentos no mercado de commodities teria pouca influência no preço final das refeições, mas a discussão em torno da futura escassez de oferta de alimentos devido ao aumento da população mundial e a mudança dos padrões alimentares com as sociedades urbanizadas insere o risco da SAN no contexto político e econômico da nutrição.(AU)

OPINIÃO DE CRIANÇAS SOBRE O LAR DE LONGA PERMANÊNCIA PARA IDOSOS: MUDANÇAS POR CONTATO LÚDICO

Esta pesquisa verifica a opinião da criança por meio do desenho sobre o Lar de Longa Permanência para Idosos, antes e depois de contato lúdico com idosos institucionalizados. Para melhor caracterizar a população idosa, traça seu perfil neuropsicológico. Desenvolve-se junto a 21 idosos institucionalizados e 61 crianças com idades entre 7 e 12 anos, do Ensino Fundamental público. Inicia-se por verificar a opinião destas crianças sobre Asilo, por meio de desenho. Em seguida, realiza intervenção lúdica com crianças e idosos, de 10 encontros com brincadeiras simbólicas e jogos de regras. A seguir, reavalia a opinião das crianças e faz avaliação neuropsicológica dos idosos, por meio de Mini-Exame do Estado Mental, da Escala de Depressão Geriátrica, do Short-Form Health Survey (SF-36) e do Índice de Katz. Para verificar a opinião das crianças expressa por meio do desenho, utiliza de um título em aberto “Asilo é...”, a ser completado. Eles são analisados com subsídios do teste projetivo House-Tree-Person (HTP). Os resultados demonstram que houve, de uma aplicação para outra, alteração na opinião de 67% das crianças, que manifestaram opinião mais positiva relativa a perceber os idosos mais interativos e o Asilo mais humanizado, por meio de desenhos mais coloridas, de casas com portas e janelas, de pessoas sorrindo e em movimento e de mensagens afetuosas. Como aspectos negativos, encontram-se maior número de grades e de pessoas desenhadas sem face, o que pode representar a percepção da criança da dificuldade de contato do idoso com o mundo externo. Na análise estatística, encontrou-se média geral de 0,34 e desvio padrão de 0,16, no primeiro desenho e, no segundo, média de 0,42 e desvio padrão de 0,19, com médias obtidas numa escala de 0 a 1, em que se considera positivo o valor próximo a 1. Na avaliação neuropsicológica dos idosos, no MEEM, 50% demonstram preservação cognitiva. Os demais instrumentos indicam que a maior parte deles não apresenta sintomas depressivos, emite opinião positiva com relação à própria saúde, participa das atividades lúdicas e é dependente. Este estudo ressalta contudo que as características da instituição pesquisada, juntamente com a realização de atividades lúdicas, podem ter favorecido a opinião das crianças após seu contato com o Asilo. O estudo indica a necessidade de novas pesquisas sobre interação criança-idoso institucionalizado

Le prix de l'individualité. Maine de Brian, Samuel Taylor Coleridge et la volonté: Deux postétités distinctes

This thesis is concerned with Maine de Biran’s and Samuel Taylor Coleridge’s conceptions of will, and the way in which both thinkers’ posterities have been affected by the central role of these very conceptions in their respective bodies of thought. The research question that animates this work can therefore be divided into two main parts, one of which deals with will, while the other deals with its effects on posterity. In the first pages of the Introduction, I make the case for a comparison between two philosophers, and show how this comparison can bring one closer to truth, understood not in objective, but in subjective terms. I then justify my choice by underlining that, in spite of their many differences, Maine de Biran and Samuel Taylor Coleridge followed comparable paths, intellectually and spiritually, and came to similar conclusions concerning the essential activity of the human mind. Finally, I ask whether it is possible that this very focus on the human will may have contributed to the state of both thinkers’ works and of the reception of those works. This prologue is followed by five parts. In the first part, the similarities and differences between the two thinkers are explored further. In the second part, the connections between philosophy and singularity are examined, in order to show the ambivalence of the will as a foundation for truth. The third part is dedicated to the traditional division between subject and object in psychology, and its relevance in history and in moral philosophy. The fourth part tackles the complexity of the question of influence, with respect to both Maine de Biran’s and Coleridge’s cases, both thinkers being indebted to many philosophers of all times and places, and having to rely heavily on others for the publication, or the interpretation of their own works. The fifth part is concerned with the different aspects of the faculty of will, and primarily its relationship with interiority, as incommensurability, and actual, conditioned existence in a certain historical and spatial context. It ends with a return to the question of will and posterity and an announcement of what will be covered in the main body of the thesis. The main body is divided into three parts:‘L’émancipation’, ‘L’affirmation, and ‘La projection’. The first part is devoted to the way Maine de Biran and Samuel Taylor Coleridge extricated themselves from one epistemological paradigm to contribute to the foundation of another. It is divided in four chapters. The first chapter deals with the aforementioned change of paradigm, as corresponding to the emergence of two separate but associated movements, Romanticism and what the French philosopher refers to as ‘The Age of History’. The second chapter concerns the movement that preceded them, i.e. the Enlightenment, its main features according to both of our thinkers, and the two epistemological models that prevailed under it and influenced them heavily in their early years: Sensationism (Maine de Biran) and Associationism (Coleridge). The third chapter is about the probable influence of Immanuel Kant and his followers on Maine de Biran and Coleridge, and the various facts that allow us to claim originality for both thinkers’ works. In the fourth chapter, I contrast Maine de Biran and Coleridge with other movements and thinkers of their time, showing that, contrary to their respective thoughts, Maine de Biran and Coleridge could not but break free from the then prevailing systematic approach to truth. The second part of the thesis is concerned with the first part of its research question, namely, Maine de Biran’s and Coleridge’s conceptions of the will. It is divided into four chapters. The first chapter is a reflection on the will as a paradox: on the one hand, the will cannot be caused by any other phenomenon, or it is no longer a will; but it cannot be left purely undetermined, as if it is, it is then not different from chance. It thus needs, in order to be, to be contradictorily already moral. The second chapter is a comparison between Maine de Biran’s and Coleridge’s accounts of the origin of the will, where it is found that the French philosopher only observes that he has a will, whereas the English philosopher postulates the existence of this will. The comparison between Maine de Biran’s and Coleridge’s conceptions of the will is pursued in the third chapter, which tackles the question of the coincidence between the will and the self, in both thinkers’ works. It ends with the fourth chapter, which deals with the question of the relationship between the will and what is other to it, i.e. bodily sensations, passions and desires. The third part of the thesis focuses on the second part of its research question, namely the posterity of Maine de Biran’s and Coleridge’s works. It is divided into four chapters. The first chapter constitutes a continuation of the last chapter of the preceding part, in that that it deals with Maine de Biran’s and Coleridge’s relations to the ‘other’, and particularly their potential and actual audience, and with the way these relations may have affected their writing and publishing practices. The second chapter is a survey of both thinkers’ general reception, where it is found that, while Maine de Biran has been claimed by two important movements of thoughts as their initiator, Coleridge has been neglected by the only real movement he could have, or may indeed have pioneered. The third chapter is more directly concerned with the posterities of Maine de Biran’s and Coleridge’s conceptions of will, and attempts to show that the approach to, and the meaning of the will have evolved throughout the nineteenth century, and in the French Spiritualist and the British Idealist movements, from an essentially personal one to a more impersonal one. The fourth chapter is a partial conclusion, whose aim is to give a precise idea of where Maine de Biran and Coleridge stand, in relation to their century and to the philosophical movements and matters we are concerned with. The conclusion is a recapitulation of what has been found, with a particular emphasis on the dialogue initiated between Maine de Biran and Coleridge on the will, and the relation between will and posterity. It suggests that both thinkers have to pay the price of a problematic reception for the individuality that pervades their respective works, and goes further in suggesting that s/he who chooses to found his individuality on the will is bound to feel this incompleteness in his/her own personal life more acutely than s/he who does not. It ends with a reflection on fixedness and movement, as the two antagonistic states that the theoretician of the will paradoxically aspires to.

Energy conservation in the steel industry

The last few years have witnessed an unprecedented increase in the price of energy available to industry in the United Kingdom and worldwide. The steel industry, as a major consumer of energy delivered in U.K. (8% of national total and nearly 25% of industrial total) and whose energy costs currently form some 28% of the total manufacturing cost, is very much aware of the need to conserve energy. Because of the complexities of steelmaking processes it is imperative that a full understanding of each process and its interlinking role in an integrated steelworks is understood. An analysis of energy distribution shows that as much as 70% of heat input is dissipated to the environment in a variety of forms. Of these, waste gases offer the best potential for energy conservation. The study identifies areas for and discusses novel methods of energy conservation in each process. Application of these schemes in BSC works is developed and their economic incentives highlighted. A major part of this thesis describes design, development and testing of a novel ceramic rotary regenerator for heat recovery from high temperature waste gases, where no such system is available. The regenerator is a compact, efficient heat exchanger. Application of such a system to a reheating furnace provides a fuel saving of up to 40%. A mathematical model developed is verified on the pilot plant. The results obtained confirm the success of the concept and material selection and outlines the work needed to develop an industrial unit. Last, but not least, the key position of an energy manager in an energy conservation programme is identified and a new Energy Management Model for the BSC is developed.