On the Transition to Clean Energy: Heedlessly Modest, Hardly Draconian

Spurred on by the myriad inventions from the last quarter of the nineteenth century and the related consumer demand for the conveniences, the Industrial Revolution itself played a major role in what would come to be known as global warming or climate change. In 2015, the Paris Agreement stipulated, notably without any enforcement, a global temperature rise of 1.5C as a ceiling. Just a decade later, scientists were saying that the threshold would be exceeded. Even amid the searing heat in the E.U. during the summer of 2026, the fear around the world in halls of government was less oriented to the what the new normal climatically would bring than to whether Iran would block the Strait of Hormuz, which was known as an oil checkpoint through which over 20 billion barrels of oil were being transported per day. It was as though our species no longer had any control over how far global warming would go.

The full essay is at "On the Transition to Clean Energy."

Hungary Blocks €90 billion E.U. Loan for Ukraine: Holding the E.U. Hostage

It is one thing for a dog’s tail to lead; even worse is the situation in which the tail refuses to let the dog walk or run. The staying power of the principle of unanimity in the European Council and the Council of the E.U. enables any one of the state governments to block federal policy and law. Such a blockage makes the tyranny of a minority look tame. In contrast, qualified-majority voting ensures that enough of a majority—a “super-majority”—is in place that the resulting minority should lose. The notion that every state government must be “on board” for the E.U. to enact a policy or law is misplaced because governmental sovereignty in that Union is “dual” because both the E.U.’s federal level and the state governments have at least some sovereignty. The same is true of American federalism. Neither the E.U. nor the U.S. is a confederation of sovereign states; only in such a federation does the principle of unanimity fit.

The full essay is at "Hungary Blocks €90 billion E.U. Loan for Ukraine."

Ukraine’s Zelensky Nails the E.U.

On a day when “(a)pproximately 4,000 building in Kyiv lacked heating . . . as temperatures plunged to -20C amid Ukraine’s coldest winter in years, almost four years into Russia’s full-scale invasion,” Ukrainian President Volodymyr Zelenskyy “delivered a scathing critique of European inaction at the World Economic Forum . . . , declaring that the continent ‘looks lost’ and remains trapped in endless repetition of failing to defend itself or decisively support Ukraine.”[1] Zelensky lamented, “Repeating the same thing for weeks, months, and of course, years. And yet that is exactly how we live now.”[2] In particular, he was referring to the fact that just as the U.S. had been sinking drug boats, the E.U. could have been sinking Russian oil tankers even near Greenland. “We will solve this problem with Russian ships,” he said. “They can sink near Greenland just like they sink near Crimea.”[3] Why was Europe repeating the same “day” over and over again, as in the film starring Bill Murry, Groundhog’s Day? Zelensky had the presence of mind to identify the root problem though his wording was antiquated.

The full essay is at "Ukraine's Zelensky Nails the E.U."

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1. Aleksandar Brezar, “Zelenskyy Says Europe ‘Looks Lost’ and Living in ‘Groundhog Day’ in Scathing Davos Address,” Euronews.com, January 22, 2026.
2. Ibid.
3. Ibid.

Global Warming Accelerating

When I took calculus in my first college-degree program, the graduate-student instructor didn’t bother to tell the class that a derivative signifies changes in the rate of acceleration. A derivative is not the rate itself, but, rather, the change in the rate—something much more difficult to detect empirically, as in watching an accelerating car. Formulae were the instructor’s focus, as if they constitute ends in themselves. By the time the climate numbers for 2025 came in, scientists could confidently say global warming was accelerating. The rate itself may have been increasing (i.e., a positive derivative), but attention to that by the media would have taken an educational reform as to how calculus was being taught. We think in terms of speed and acceleration. In this respect, we may be deficient in climate change itself as it has been unfolding. More decades than I care to admit had passed by 2025 since I had that course in calculus; only now can I say that I have used the math, albeit theoretically rather than via formulae.

The full essay is at "Global Warming Accelerating." 

The E.U.’s Hungary Overreaching on Sovereignty: International Trade

Sovereignty is not a word to be casually used, especially if in overreaching. In both the E.U. and U.S., state governments have overreached at the expense of the delegated competencies or enumerated powers of the respective Unions of states. The Nullification Crisis in the U.S. and de facto unilateral refusal of the E.U. state of Hungary to observe E.U. law both demonstrate how the overreaching by state governments can compromise a federal system.[1] In the E.U. the refusal to do away with the principle of unanimity in the European Council and the Council of the E.U. enable and even invite such overreaches at the expense of the E.U. itself, and its distinctly federal officials. Even a state government’s pursuit of it’s state’s economic interests does not justify holding the E.U. hostage. The case of supporting Ukraine in the midst of the invasion by Russia is a case in point.

The full essay is at "The E.U.'s Hungary Overreaching on Sovereignty."

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[1] In 1832-1833, the government of South Carolina held that the U.S. tariffs of 1828 and 1832 were null and void within the state. “The resolution of the Nullification Crisis in favor of the federal government helped to undermine the nullification doctrine,” which holds that states have the right “to nullify federal acts within their boundaries.” Britannica.com (accessed August 25, 2025). I submit that the European Court of Justice could do worse than declare the same with regard to state laws, including the refusal of a governor or state legislature to implement federal directives, that are in violation of E.U. law and regulations. Monetary sanctions by the European Commission have not been a sufficient deterrent. If either de facto or de jure nullification becomes the norm, then it would only be a matter of time before the Union dissolves and the states could once again take up arms against each other.

UN Climate Conferences Harbor an Institutional Conflict of Interest

Whereas people become instantly upset upon hearing that someone has self-aggrandized oneself by exploiting a conflict of interest, by, for example, embezzling funds for personal use, our species has the tendency to ignore the institutional variety of conflicts-of-interest. We don’t want to hear of another person incurring a privately-held benefit by ignoring the duties of one’s office, such as fiduciary responsibility, but we are fine with countries whose dominant industry is oil hosting the UN’s annual climate conferences. The sheer denialism entailed in assuming that the governments of such countries can be expected to steer a conference from the interests of the domestic oil companies is astounding. If there were ever a case of private benefits being at odds with the public benefit from mitigating climate change from carbon emissions by humans, this instance would be it. As had been the case of tobacco companies that promoted smoking even to minors while knowing that smoking kills or at least shortens a person’s lifespan, oil companies place their own profits, which are only a benefit to themselves, their managements, stockholders, and their external sycophants (i.e., governments) through more tax revenue and higher political contributions, above whether the planet warms more than 2C degrees—1.5, the prior limit, being passed in 2024. In other words, greed (i.e., the desire for more) can render board directors and managements oblivious to even forecasts of catastrophic impacts from global warming. In 2024, as COP29 was in progress in the Azerbaijani capital, Baku, Al Gore, who had been the U.S. vice president during the eight-year Clinton administration in the 1990s, was astonished by how blatant (and undercutting relative to the conference’s goal) the institutional conflict of interest has been in allowing petro-states to be the hosts. I’m skeptical, given the lapse that seems to be inherent in the human brain when it comes to assessing and even recognizing such conflicts of interest, whether Gore’s “wake-up” call would make more than a ripple next to the power of the oil industry, given its private wealth.

The full essay is at "UN Climate Conferences: An Institutional Conflict of Interest."

India on Russia’s Invasion of Ukraine: On the Flawed Hegemony of Political Realism

India took an equivocal position on Russia’s invasion. This is surprising at first glance because India has been so concerned to protect its sovereign territory from baleful encroachments from China. What explains India looking the other way as Russia unilaterally invaded a sovereign state? I contend that the explanation supports the assertion that the world could no longer afford its system based on national sovereignty if political realism is in the driver’s seat at the national level.

The full essay is at "India on Russia's Invasion of Ukraine."

Energy and Global Population

There is a temptation, especially since the global average temperature reached the 1.5C increase threshold in 2023 much faster than anticipated, to focus narrowly on the progress in renewable energy sources without placing it in perspective relative to the total amount of energy being used globally, the annual increases in energy demand, and the root cause, the explosive growth in human population since the early 20^th century. The strategic geo-political international interests of countries impacted and should thus be considered as well. 

The full essay is at "Energy and Global Population." 

Speculators and Price Volatility: The Case of Gasoline

According to The Huffington Post, “Oil prices took a nosedive [on May 5, 2011] in a historic selloff, erasing weeks of gains and indicating that the months-long climb in energy prices may have hit a ceiling. Crude oil plunged 10 percent as startled investors unloaded their positions and a weeklong decline accelerated into an outright freefall. The price of U.S. crude went from triple digits to double digits, falling below $100 after opening at close to $110. Brent crude, a European benchmark, lost $12 at one point in a sell-off that exceeded the one following Lehman Brothers' collapse.”[1]  The question, for course, is why, the answer of which can lead us to consider some public policy recommendations. Understanding the previous price rise is a first step both to answering this question and for evaluating public policy solutions.

The full essay is at "Speculators and Price Volatility."

1. William Alden, “Oil Prices Plunge in Record Sell-Off,” The Huffington Post, May 5, 2011.

Auto vs. Oil Industries on Emission Standards: Putting a Part Above the Whole

When a company or an entire industry skips over the good of the whole—the public good—in lobbying for legislation that only reflects the needs or desires of individuals (qua consumers only), the society itself (and even the Earth) is slighted and thus more at risk. For the good of the whole is more than just the cumulative needs and desires of individuals in part because the latter do not take into account the wider effects of their choices. When an individual company or industry takes this point into account and rebuffs favorable legislative proposals because they would do too much damage to society and/or the planet, social responsibility is at hand. Companies or industries that do not are thus irresponsible from the standpoint of the whole, which, through government, is justified in keeping an eye on them (especially in making transparent their efforts to influence legislation and regulation. The American auto and oil industries can be distinguished in this regard. 

The full essay is at "Industries: Putting a Part Above the Whole."

Off-Shore Drilling off Virginia’s Coast: The Stakeholder Framework Applied

By the early 1990’s, the U.S. had banned drilling off the Atlantic coast. In the wake of BP’s deep-water-drilling disaster in the Gulf of Mexico in 2010, President Obama cancelled his go-ahead of drilling leases off Virginia’s shore. A few years later, Doug Domenech, the Secretary of Natural Resources in Virginia, and that republic’s head of state, Bob McDonnell, teamed up with Virginia’s two delegates in the U.S. Senate to “put Virginia’s coast on the energy map through an act of Congress.” Domenech said, “I personally believe that the East Coast of the U.S. does have the ability to be the prolific economic basin.” The Bureau of Ocean Energy Management estimated based on two-dimensional seismic surveys that 3.3 billion barrels of recoverable oil exist under the Atlantic’s outer continental shelf and 31.1 trillion cubic feet, or 886.3 million cubic meters, of natural gas. However, the executive arm of the U.S. Government alone is more than that bureau. Moreover, lest this conflict over drilling be viewed as primarily between Virginia and the U.S. Government, it should be noted that the East Coast is not exclusive to Virginia.

 

Respecting the integrity (i.e., valid claims) of both frameworks requires integrity, or self-discipline.   Worden 

The full essay is at "Drilling Off-Shore: Strategic and Societal Leadership Applied."

7 Billion People Worldwide in 2011: Catholicism's Humanae Vitae Compromising or Protecting Human Life?

According to the Huffington Post, “Amid the millions of births and deaths around the world each day, it is impossible to pinpoint the arrival of the globe's 7 billionth occupant. But the U.N. chose on October 31, 2011 to mark the day of that occupant's arrival with a string of festivities worldwide, and a series of symbolic 7 billionth babies being born.” I contend that the milestone is nothing to celebrate; rather, it should have served as a wake-up call for us all, lest the species continue undaunted to maximize itself right out of existence. Both the slope and its relative abruptness, evident in a historical perspective, ought to have given us all pause in our assumption that our species would necessarily go on without either self-regulation or a drastic correction from nature. 

                                            Source: UN Population Division

The full essay is at "The Human Species as an Ecologically Maximizing Variable: Religion as a Catalyst?"

A Critique of Corporate Political Risk Analysis and U.S. Foreign Policy: The Case of Libya

Even though people the world over instinctively recoiled as reports came in of Gadhafi's violent retaliation against Libyan protests on February 21, 2011, the official reaction from the US Government was muted at best. The refusal to act on an intuitive response to immediately remove the Libyan dictator's ability to wantonly kill people resisting his right to rule may have come from concerns that the mounting tumult of a change of government in a major oil-producing region of North Africa could cause even just a disruption in the supply of crude. Indeed, even the mere possibility was prompting a spike in the price of oil (and gas)--what one might call a risk premium. Even the prospect of an ensuing nasty electoral backlash from consumers having to face a possible increase in their largely non-discretionary gas expense was not lost on their elected representative in chief at the White House. 

The full essay is at "The Case of Libya."

Foreign Policy in International Business: BP Trading a Libyan Terrorist for Libyan Oil

Senator Kirsten Gillibrand, D-NY, claimed in July of 2010 that the UK government should investigate what role BP played in Britain’s decision to free Abdel Baset al-Megrahi in August 2009. Al-Megrahi is the only person convicted of carrying out the 1988 bombing of a Pan Am airliner in which 270 people were killed over Lockerbie, Scotland. This is not to say that he acted alone. In February, 2011, Gadhafi's justice minster, Mustafa Abdel-Jalil, who resigned in protest against Gadhafi's massacre of unarmed protesters, told a Swedish newspaper that Gadhafi had ordered the attack. Abdel-Jalil also claimed that Megrahi threatened to "spill the beans" unless his return to Libya were secured. It would appear that BP, a publically-traded stock corporation, played a vital role between Gadhafi and the British government. If so, then aside from Gadhafi's sordid role, this case presents us with an issue of business ethics. Specifically, does a corporation, which is essentially private wealth but with responsibility befitting the power that comes with such wealth, cross a line when its employees engage in foreign policy? The ethical problem inherent in interfering in a juridical sentence is troubling enough; if an unelected corporation becomes so powerful that it can affect international relations between (and foreign policies of) countries, then the issue involves not only business ethics, but also democratic governance. As the line between private and public blurs, the respective bases of legitimacy can become conflated or transposed.

The full essay is at "BP Conducted Foreign Policy."

The Saudi Crackdown: A Cause for Market Confidence

The Saudi government sought to confiscate cash and other assets worth as much as $800 billion in ostensibly cracking down on corruption in late 2017. More than 60 princes, officials, and business practitioners were initially detained. Both the figure and the number of arrests reflect merely “the initial stages” of asset seizures and arrests, according to a Saudi spokesman.[1] It was not long before 500 had been detained.[2] I submit that both the swiftness and scope left international investors and foreign businesses in Saudi Arabia unnecessarily rattled. Doubtless uncertainty as to the real reason for the crackdown unnerved the business elite. Corruption was endemic in the Saudi political economy, so the sudden need to crack down on it understandably left people to wonder as to the real reason, which, as it turns out, was nothing for business to fear.

The full essay is at "Political and Market Risk."

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[1]Margherita Stancati, “Saudis Target Up to $800 Billion in Assets,” The Wall Street Journal, November 8, 2017.

[2] Nicholas Kulish and David Kirkpatrick, “Arrests Reveal Blending of Kin and Kingdom,” The New York Times, November 8, 2017.

Russia's Putin Embraced BP

The Russian state-owned company, Rosneft, reached separate agreements in October 2012 to buy TNK-BP from BP and a group of Russian billionaires. According to the Wall Street Journal, the deal represents “an acquisition that promises to reshape the Russian oil industry in favor of the state-owned company.” The Russian federal government was set to own or control nearly 50% of the Russian oil industry. Lest it be supposed that the legacy of inefficient state enterprise might compromise that industry in Russia, the state would have the benefit of literally sitting on the same board with representatives of the experienced oil producer from the private sector. By implication, the traditional dichotomy between public and private could be further blurred, such that the easy labels of “socialism” and “capitalism” may become less and less relevant or useful (except in the rhetoric of American presidential contests). Rosneft itself is a case in point of privateness and publicness coming together with a shared vocabulary or at least financial aim. Before addressing this point, I present the basics of the deal itself.

Robert Dudley, CEO of BP, talking with Vladimir Putin at the Kremlin.   Source: Telegraph

The full essay is at "Russia's Putin Embraced BP."

On the Myopic Hyperbole of Wall Street: Overblowing Small Changes

I suppose that after looking at something closely for a long period of time, virtually anyone would perceive a small change in it as huge. This is reflected in how people formulate graphs. In particular, typically only a small interval is shown, the perceptual impact of which is that small changes look big. For example, Msnbc.com reported on June 8, 2011 that the price of oil “soared” on that day “almost $2 to near $101 a barrel.” My reaction in reading the report was that the word “soared” indicates a lack of perspective on Wall Street and the media.

The full essay is at "Exaggerating Market Volatility."

The Kurds Betrayed: Iraq Retakes Kirkuk with U.S. Backing

For some reason, people tend to assume that the status quo has been around for a very, very long time—that it enjoys the perk of longevity. To mess with it even in part is typically assumed to “upset the apple cart.” The fear is excessive. A century after World War I, the fact that many of the extant countries in the Middle East had been artificially crafted by Britain and France paled under the presumption that those countries had been around for much, much longer. Accordingly, the fact that the Kurds voted overwhelmingly in 2017 to secede from Iraq was ignored or dismissed not only by Iraq, but also by other countries in the region and the United States. “Baghdad and most countries in the region had condemned the vote, fearing it would fuel ethnic divisions, lead to the breakup of Iraq and hobble the fight against the Islamic State.”[1] I submit that the fear was overblown and mistaken.

The full essay is at "Kurds Betrayed."

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[1] David Zucchino, “Iraqis Capture Key Kurdish City with Little Fight,” The New York Times, October 17, 2017.

Vertical and Horizontal M&A: A Bias in Antitrust Policy?

The Obama Justice Department developed a track record in challenging horizontal mergers and acquisitions—those in which a company buys a direct competitor—in industries that are already highly concentrated. In deals that are not between direct rivals, such as those that occur in vertical integration, the Obama Administration approved the deals, albeit with the imposition of legally binding restrictions on the acquirer’s ability to use its “in house” supplier to engage in unfair competition.

The full essay is at "A Bias in Obama's Antitrust Policy?" 

Vertical and Horizontal M&A: A Bias in Antitrust Policy?

The Obama Justice Department developed a track record in challenging horizontal mergers and acquisitions—those in which a company buys a direct competitor—in industries that are already highly concentrated. In deals that are not between direct rivals, such as those that occur in vertical integration, the Obama Administration approved the deals, albeit with the imposition of legally binding restrictions on the acquirer’s ability to use its “in house” supplier to engage in unfair competition.

The full essay is at "Vertical and Horizontal Mergers and Acquisitions."