03 September 2026
Fossil Fuels And The Bulk Freight Market (And More)
28 May 2026
How We Got Here, And Where We Might Go Next
18 May 2026
When Will Cherry Creek Flood?
Until the Cherry Creek and Chatfield Reservoirs were built, Cherry Creek and the South Platte Rivers, respectively seriously flooded about once every thirty years and often at the same time.
From my days as a journalist, I learned that the Cherry Creek dam was not built to the engineer ordered specifications. It has nonetheless held for decades, so it isn't too bad, but it would probably fail under conditions less extreme than those it was designed to withstand.
We get more extreme weather events now than anyone expected when it was built. We will probably have what until recently was considered at 500 year weather event at least every 50 years now.
The Cherry Creek basin is mostly designed to address this risk, with green spaces and parking garages along most of its extent.
But, there is one place along its edges, where the basin has steep constraining walls, and critical infrastructure is just a few feet above the narrow walled Cherry Creek bike path. That is the Denver Health Emergency Room, Denver proper's only Level One Trauma Center.
I worry about this risk now and then, and we really should build a flood wall to protect it now, before the Cherry Creek dam fails is a "freak not freak" weather event.
22 April 2026
Oil And Water
Scarcity of oil and rising petroleum prices, and climate change driven drought, are a big deal. But there are fairly clear paths by which our society can adapt to both. Neither would be apocalyptic, even though it would drive significant, visible changes in our day to day material culture.
These matters are particularly worth thinking about on Earth Day, which is today.
Oil
A very large share of all petroleum consumption is for transportation, mostly cars, trucks, construction vehicles, boats, ships, and trains. Advances in battery technology, and EV manufacturing and infrastructure are making electric vehicle alternatives to all of those technologically viable. And, advances in renewable energy and nuclear power can replace almost all of the fossil fuels in the electrical power grid. Coal is well on its way to be phased out in the United States and much of the developed world. Alaska and Hawaii are the only U.S. states where a significant share of electricity is generated from petroleum. Heat pumps are paving the way as an alternative to heating buildings that were historically heated with heating oil in the U.S. (mostly in the Northeast).
Heat pumps and evaporative coolers (together with better insulation) also dramatically more energy efficient than conventional air conditioning, and renewables like solar and wind combined with modern batteries are particularly well suited to meet the demand for electricity to provide cooling.
Lots of fertilizers that are petroleum based could also become unaffordable, as they have as global petroleum supplies have been interrupted by U.S. and Israeli attacks on Iran, and its counterattacks. But organic farming techniques are now well established enough that these methods pose an obvious alternative path for agriculture is petroleum based fertilizers cease to become economically viable. Dutch models of intensive hydroponic agriculture suggests another off ramp from what is now considered conventional agriculture.
There are some applications where there aren't good alternatives to petroleum, like plastics and jet fuel. But these are such a small share of total petroleum consumption that these uses could be sustained, even if they become more expensive, even if petroleum prices soar and the supplies contract greatly.
Of course, plastics and petroleum based fabrics like nylon, have only been in wide use for about sixty years. If plastic becomes too expensive, we can revert to using metal, glass, wood, and plant and animal fiber alternatives for applications like kitchen ware and trash bins that aren't uniquely suited to plastic, as traditional alternatives becomes more affordable relative to plastic with rising petroleum prices.
The changes wouldn't be geographically neutral. A collapse in demand for petroleum driving by electric vehicles and organic farming would crush the economies of petrostates in the Middle East, in Brunei, in Nigeria, in Venezuela, and in select states within the United States. West Virginia has already seen its coal based economy collapse, as have many historically coal mining economy based regions in Europe. Wyoming will follow suit.
On the other hand, rare earth rich areas who supply key components of modern batteries and electronics, may see mineral economy booms.
Water
In most of the arid west, marginal agricultural activity consumes 80%-90% of all fresh water, while landscaping and golf courses consume about half of the rest of the fresh water. If water becomes scarce, entire regions can eliminate their water hungry landscaping, golf courses can close or become much more expensive or use artificial grass, and marginal agricultural operations can close.
In places like the Arabian Peninsula, Greece, Utah, and California, desalination technology might become more prominent as a water source, at least for high value municipal waters uses like drinking, cooking, and bathing, and gray water systems would use non-potable water (such as salt water from the ocean or salt water lakes) in applications where drinkability wasn't important, like flushing toilets.
Climate change that produces global warming ultimately both gives and takes away arable land. It renders much of the arid West unsuitable for farming and ranching, but makes places that were too cold for farming in the past, more suitable for it. Even when climate change doesn't actually change the total amount of arable land somewhere, it may change the kind of agriculture that is appropriate in that place.
Places that used to support subtropical orange groves may freeze more often and get dryer and become more suitable for cotton and the soft wheat varieties currently grown in places north of Florida in the American South. Crops now grown in the South might start to be grown in the Midwest. The abundant corn and wheat fields of the Great Plains and Midwest might move north to Canada. The Great Plains might transition from grain farming to cattle grazing.
I'm not a climate scientist. I don't have exact models of exactly when and where climate zones that are suitable for particular crops and livestock will relocate. But that's the basic concept.
The ongoing wars across the Sahel of Africa illustrate how ugly the process of having herders ecologically forced into historically horticultural land can be without strong geographically large states to force the transition to be made with money instead of violence can look. But with strong states that remove violence as a viable option, the transition, while still massively disruptive, could be less tragic in places like North America and Western Europe.
Similarly, the skiing industry might relocate from places like Colorado and Vermont to places like the Yukon and Alaska, in North American, and from places like the Alps in Europe to the northern Urals and the Himalayas in Eurasia.
Many Sunbelt communities in places like Arizona and Texas and Florida may see the waves of migration to avoid the cold winters of the north replaced by migration north to avoid the months of hundred degree plus water in the Sunbelt which are already commonplace in cities like Phoenix and Las Vegas, while the rust belt, with its winters made milder due to global warming and abundant fresh water, may start to look more attractive, and may attract mass return migrations.
One of these days, people in the Sunbelt may return to the traditional solution of having midday siestas, inside cooler, shaded adobe insulated homes, and becoming more active once the sun goes down and the air cools late into the evening.
Coastal communities will have to build dikes or lose land area as sea levels rise, and many will have to remake their architectural landscape in the face of increasingly severe storms, something that will hit the U.S. states of Florida and Louisiana and some islands in Oceania particularly hard.
Species limited to narrow microenvironment ranges will go extinct en masse, as human encroachment upon their habitats, ecological disruption, and human predation have already done to many species already.
How fast will it happen?
We are, in 2026, at about the place on this path that we thought we'd be in the year 2006, back in 1986. Events like the transitions to EVs and heat pumps and renewables and industrial scale organic farming happened, but it took about twice as long as futurists at the time thought that it would.
Climate change, on the other hand, is happening faster than expected by a decade or three. The changes that were initially looking like they would take a century to run their course are now looking like they will occur in half of that time.
Certainly, these transitions are medium to long run trends. They will probably takes decades more to run their course. These transitions probably won't be complete in my lifetime, although they probably will run their course in the lives of my children, or at least, in the lives of my future grandchildren. Less poetically, this time frame is about 30-90 years.
But these trends are both massive and inexorable, like plate tectonics but much, much faster. Fast enough that it will be visible in future tree ring records.
Conclusion
These are huge, traumatic changes that will force mass migrations and fundamental changes in people's day to day culture. But they don't mean the end of modern life as we know it either. And falling birthrates will eventually lead to smaller global and regional populations that put less strain on scarce water and fossil fuel resources.
14 April 2026
New Health And Climate Research
* They're well along in developing a toothpaste or mouthwash that with treat gum disease by stymying harmful mouth bacteria that cause it, while leaving the good parts of your mouth's microbiome alone. Current mouth washes like Listerine kill everything and the bad bacteria often recover quicker.
* The drought is a problem in surprising ways.
For years, water managers have been puzzled as the Colorado River kept delivering less water than expected—even when snowpack levels looked promising. New research reveals the missing piece: spring rain, or rather, the lack of it. Warmer, drier springs mean plants are soaking up more snowmelt before it can reach rivers, fueled by sunny skies that boost growth and evaporation. In fact, this shift explains nearly 70% of the shortfall, tying the mystery directly to the long-running Millennium drought.
* The same, yet different:
New research reveals that obesity affects men and women in surprisingly different ways. Men are more likely to develop harmful abdominal fat and signs of liver stress, while women show higher inflammation and cholesterol levels. These differences could help explain why health risks vary between sexes. Scientists say this could lead to more tailored treatments for obesity.
* Genes greatly influence your chance of dying from age related health conditions:
For years, scientists believed our lifespan was mostly shaped by environment and chance, with genetics playing only a minor role. But a new study from the Weizmann Institute flips that idea on its head, revealing that genes may actually account for about half of the differences in how long people live. By analyzing massive twin datasets—including twins raised apart—and using innovative simulations to filter out deaths from accidents and other external causes, researchers uncovered a hidden genetic influence that had been masked for decades.
* A possible alternative to GLP-1 drugs would have less side effects, but some of those side effects like greater executive function and an ability to fight addictions might be good ones:
A newly discovered molecule could reshape the future of weight loss treatments by mimicking the powerful appetite-suppressing effects of drugs like Ozempic — but without many of the unpleasant side effects. Identified using artificial intelligence, this tiny peptide, called BRP, appears to act directly on the brain’s appetite-control center, helping animals eat less and lose fat without nausea or muscle loss.
* Another study suggests that an early dinner and an early breakfast might help you lose weight:
A major study suggests that when you eat could play a key role in staying lean. People who fast longer overnight and start their day with an early breakfast were more likely to have a lower BMI years later. Scientists think this is because eating earlier aligns better with the body’s internal clock. But skipping breakfast as part of intermittent fasting didn’t offer the same advantage—and may even be tied to unhealthy habits.
* Colonoscopies are a big deal and aren't fun. An alternative stool test may be almost as good of a diagnostic test:
A breakthrough in microbiome research could change how colorectal cancer is detected—no colonoscopy required. Scientists used AI to map gut bacteria at an unprecedented level of detail, revealing subtle microbial patterns linked to cancer. By analyzing simple stool samples, their method identified 90% of cases, rivaling one of medicine’s most trusted diagnostic tools.
* Alzheimer's disease attacks your sense of smell early on, which would be very helpful if there were effective treatments for the disease, which there aren't (yet):
Losing your sense of smell might signal Alzheimer’s far earlier than expected. Scientists found that immune cells in the brain actively destroy smell-related nerve fibers after detecting abnormal signals on their surfaces. This damage begins in early stages of the disease, well before cognitive decline. The discovery could help identify at-risk patients sooner and improve treatment timing.
* Also, while I'll find the link again another day, the Epstein-Barr Virus, that caused mono, cold sores, and M.S., also causes lupus. The case for developing an EBV vaccine has just gotten a lot stronger.
13 January 2026
The Economic Foundation Of A Liberal Geopolitics And Political Economy
The liberal answer to the despotism of Russia, Venezuela, Saudi Arabia, and other petrostates is ultimately pretty straightforward: use technology to make oil and other fossil fuels, which are also damaging our environment and driving climate change, irrelevant, replacing this with energy obtained from cleaner and decentralized renewable energy and vehicles that run on electricity.
Authoritarianism thrives in economies where the key factor of production is ownership of resources, whether that's farm land, gold, sliver, coal, or oil.
In contrast, in a commercial economy, where the most important factor of production is not just labor, but intelligent, voluntary work, you need to spread out economic resources to induce those willing, smart economic contributions from many people. The decentralization of wealth and power that flows from that favors a more open, democratic society, since the funds to run a state must be obtained through taxation of the many secured with their democratic permission, and not just ownership of those resources.
Commercial economies need to be market based. But they don't need to be truly "capitalist" in the Marxist sense, and indeed, ideally aren't. In a truly capitalist economy, in this sense, capital (i.e. raw wealth) is they key factor of production and ownership of it, while more amorphous than wealth based upon ownership of raw resources, can lead to similar effects.
If owning the factory or equipment becomes as important as owning land used to be in medieval and early modern Europe, you get a society that may look like a commercial economy, but is just as controlled by oligarchs as the economies that came before it. In the extreme of a capitalist society, financial wealth can dominate and replace land or oil as the concentrated factor of production that facilitates an economy based upon ownership of the key factor of production by a few.
To be clear, this doesn't mean that we should resort to Marxism's flawed "labor theory of value." What matters is results, not effort. Treating goods and services made less efficiently as more valuable than the same goods and services made efficiently is just dumb. But ideally, know how and efficiency that maximize the value of labor relative to the value of ownership of property is the goal.
This approach, like every approach has winners and losers, which somewhat align with modern political identities. Right wing politics are favored on one hand, by people who want to increase the importance of ownership of property as a key factor of production, and on the other hand, by people who are only capable of providing inefficient labor, who don't benefit from a system that rewards widespread and diverse forms of efficient labor.
Another threat to the political structure of a decentralized commercial economy is intellectual property. When it is too strong, as it is in our economy, ownership of intellectual property prevents innovation rather than encouraging it, and concentrates wealth in whomever owns a right to royalties from it.
The fundamental project of those seeking a healthier political economy in the West is to undermine the importance of merely owning wealth and intellectual property.
In the case of intellectual property, we've kept that at bay so far, by making it easy to copy and having lots of opportunities to innovate and make older intellectual property grow obsolete, although laws weakening intellectual property rights would help.
In the case of finance, we've tried to create financial institutions that make it possible to funnel access access to resources to people who have good ideas, while lowering the returns to ownership with low interest rates and modest returns to ownership of equity. But tax laws that favor unearned income over earned income have helped undermine this, as has the weakening of estate and inheritance and gift taxation that facilitates the transfer of wealth to dumb money.
29 December 2025
Cherry Blossoms And Climate Change
01 September 2025
Labor Day Musings
* The state of labor in one chart:
The failure of businesses to share productivity increases with their workers starting in the early 1970s is the root cause of a lot of the current political reality in the United States. In my view, the decline of private sector union membership is more a product of declining worker economic power than a cause of this shift, but that's an open question in economics.
* The number of immigrants in the U.S. labor force has fallen by 1.2 million since Trump started his second term. According to the Wall Street Journal: "With zero net immigration, Apollo Chief Economist Torsten Slok estimates, the U.S. economy would be able to sustainably add only about 24,000 nonfarm jobs a month, compared with an average 155,000 from 2015 through 2024."
Agriculture (overwhelmingly in "red America") in the U.S. is particularly suffering both due to tariffs and due to the immigration crackdown that is cutting into the agricultural labor workforce. Nebraska and Iowa saw their state GDPs fall at an annualized rate of 6.1% in the first quarter of 2025. Those tariffs were found to be mostly illegal by the U.S. Court of International Trade in a ruling affirmed by the U.S. Court of Appeals for the Federal Circuit in a 7-4 ruling. The effect of the ruling is on hold until mid-October pending a petition for certiorari to the U.S. Supreme Court which has consistently ruled in favor of Trump despite his weak legal arguments.
The anti-immigrant fervor is driven by two main factors: (1) the economic stagnation of working age men without any college education who native born white men attribute to immigrants, international trade, and civil rights for women and minorities, and (2) the fear of white protestants in places with few immigrants that their culture will cease to be dominant.
* Courts in India are very slow.
[I]n one recent example a Delhi court concluded a property dispute after 66 years. Both the original litigants were dead. Still, the lawyer for one of the warring parties cautioned that the conclusion was in fact not the end, as the ruling would be appealed.Three years ago, after pondering a dispute for 16 years, the supreme court sent back a 60-year-old land case for fresh adjudication to a lower court, which had already taken over 30 years to give its judgment in 2006.A 2021 study of Mumbai real estate found that more than a quarter of the projects under planning or construction and 43 per cent of all “built-up spaces” in the city were under some litigation. My apartment block was one of them.…One of the reasons for this accumulation is human resources. India has around 16 judges per million people, compared to over 150 for the US. In 2016, the issue brought the country’s chief justice, TS Thakur, to tears during a speech as he requested that the government hire more judges to wade through the “avalanche” of backlog.
For what it is worth, there are far fewer judges per capita in the U.S. than in Europe, even though the total number of legally trained professionals in the U.S. and in Europe per capita are similar.
The lack of state capacity in the area of courts means that property and contract rights and other forms of private law are weaker, which is bad for the economy.
* Adults in the U.S. are having sex less often (the decline is at least as great among high school students). It is basically a coincidence, but my children were conceived right around "peak sex" in the recent history of the United states.
* The U.S. housing market is starting to favor smaller single family homes again after a peak in roughly 2014. Single family houses in the U.S. are still, on average, much larger than they were 30 years ago.
Other places with significant Uralic populations, Basque country, historically Celtic areas (despite the putative cultural origin of the Celts in the vicinity of Czechia which is being used as a baseline in the chart above), and places with significant Islamic migration since the 700s CE, also stand out in this map. Sardinia is the closest modern match to the genetics of Europe prior to the arrival of the Indo-Europeans.
* Louisiana still hasn't recovered from Hurricane Katrina twenty years ago. It permanently reduced the population of the state, and of New Orleans, in particular (predominantly due to migration away from it, not due to the fatalities themselves).
* Almost every country in Western Europe has supplied Ukraine with military equipment. So have quite a few other countries (mostly in what could be called the Western European diaspora).
The U.S. figure is 0.2% (there are about 1.019 million firefighters out of 163.3 million employees, but two-thirds of them, who are not included in the 0.2%, are volunteers). This is similar to the European average.
We estimate income and taxes for the wealthiest group of US households by matching Forbes 400 data to the individual, business, estate, and gift tax returns of the corresponding group in 2010–2020. In our benchmark estimate, the total effective tax rate—all taxes paid relative to economic income—of the top 0.0002% (approximately the “top 400”) averaged 24% in 2018–2020 compared with 30% for the full population and 45% for top labor income earners.
This lower total effective tax rate on the wealthiest is substantially driven by low taxable individual income relative to economic income. First, the C-corporations owned by the wealthiest distributed relatively little in dividends, limiting their individual income tax unless they sell their stocks. Second, top-owned passthrough businesses reported negative taxable income on average in spite of positive book income, further limiting their individual income tax. The top-400 effective tax rate fell from 30% in 2010–2017 to 24% in 2018–2020, explained both by a smaller share of business income being taxed and by that income being subject to lower tax rates.
Estate and gift taxes contributed relatively little to their effective tax rate. Top-400 decedents paid 0.8% of their wealth in estate tax when married and 7% when single. Annual charitable contributions equalled 0.6% of wealth and 11% of economic income in 2018–20.
* Japan has the lowest housing prices in its major metropolitan areas of any comparable cities in the world. It isn't clear to me how much of this is due to lax land use laws arising from handling that function at a regional level rather than locally, and how much of this is due to its low birthrates and modest immigration rates.
