Image assembling three screenshots - one of an FT ticker saying "Commodity Traders hail strong first quarter as energy shock throws up 'opportunities', one of another FT piece titled "Energy shock 'as serious as 1973 and 2022 crises combined', Brussels says, and one with the title of our paper: Best of times, worst of times: record fossil-fuel profits, inflation and inequality

"Best of times, worst of times"
When we titled our paper on the distributional implications of the 2022 fossil energy crisis, we did predict that such crises were likely to occur again -- but didn't think as soon again as 2026!

Link to the (free) paper: www.sciencedirect.com/science/arti...

100%, especially considering his heavy-handed "we can re-join the single-market stealthily without Parliamentary scrutiny" approach was uncovered recently by @theguardian.com

*Lionel Hutz business card voice*

'No, pressure existed!'

Still of the view that the biggest risk in this whole mess is widespread hunger in poorer countries leading to political instability.

While I love this for Russia, the war becoming nothing but swarms of autonomous Hunter-Killer drones fighting each other and blowing up people and infrastructure behind the lines feels terrifying.

Europe should move faster on electrification, renewables, storage and grid integration, because those investments reduce exposure to volatile global fuel markets rather than merely shifting that exposure from one foreign supplier to another.

There is already some evidence that the oil price shock is beginning to affect demand for EVs as petrol prices surged after the start of the Iran war, while fuel crises in parts of Asia-Pacific have similarly boosted EV demand.

In transport, higher renewables use and wider EV adoption can weaken exposure to fossil fuel price shocks by shifting part of household and firm transport spending away from volatile global oil markets and towards electricity.

Europe remains highly exposed outside the power sector. Fossil fuels still dominate transport and still account for a large share of energy use in households and industry.

A cleaner power mix can materially weaken an important transmission channel from fossil fuel markets to inflation, even if it does not eliminate broader exposure altogether.

Renewables are a structural hedge against fossil fuel shocks. In power markets, the more often wind, solar, hydro and nuclear cover demand, the fewer the hours in which gas sets the marginal price, and the weaker the link between global gas markets and domestic electricity costs.

After 2022, European countries cut gas demand, filled storage and diversified supply. But the deeper shift, towards electrification and structurally lower fossil fuel demand progressed more unevenly and the green transition has even lost much of its earlier political momentum.

The 2026 Iran war has reinforced the lesson the lesson we should’ve learned after Russia’s invasion of Ukraine. As long as Europe remains tied to volatile global oil and gas markets, geopolitical disruption will keep feeding into inflation and weaker growth.

The Iran War, Energy Price Shocks, and the Green Transition The Iran War and the closure of the Strait of Hormuz strengthens the economic case for accelerating decarbonisation and reducing exposure to fossil fuels.

Given the persistent disruptions from the closure of the Strait of Hormuz, @cronco.bsky.social and I have written a substack article about how Europe’s fossil fuel dependence is now as much about macroeconomic resilience as climate. A 🧵.

#Iran #Inflation #Energy

open.substack.com/pub/outsampl...

how do we get JD Vance to start speaking at Reform press conferences

Election poster saying Mihai Chereji, Hoxton East and Shoreditch, Hackney, Green Party Candidate #getGreensElected

I am standing as a (paper) candidate for the @hackneygreenparty.bsky.social
for Hoxton East and Shoreditch ward. Delighted to be part of a great slate of candidates in a borough that I'm proud to call home. Register to vote by April 20 at gov.uk/register-to-vote #getgreenselected

My undying loyalty to any maps/routing company that will allow me to plan cycling routes while avoiding canals in London 💀

This is the largest oil supply shock in history in mb/d
The enemy gets a vote. Iran is now delivering pain to Trump via multiple paths
(1) Gulf Kings
(2) Financial meltdown
(3) AI tech oligarchs
(4) Fuel, fertilizer, food disruptions
Read our Polycrisis Dispatch:
buttondown.com/polycrisisdi...

They WISH they were the Westminster station.

‘Reimagining matter’: Nobel laureate invents machine that harvests water from dry air Omar Yaghi’s invention uses ambient thermal energy and can generate up to 1,000 litres of clean water every day

www.theguardian.com/environment/...

This is a huge development

These are fantastic! Is this through the Layers of London project?

Proud to be part of this change!

A market with no price signals that has created some of the highest fees in the world that hasn’t secured university funding. A policy that achieves literally none of its aims!

Just listened to this, very interesting but one aspect which you haven't addressed and that is the circularity of the ad revenue in the podcasting space. I swear at least half the ads I get on most podcasts are just ads for other podcasts. How does that not bode badly for the ecosystem in general?

I just got on a new carriage on the Central line, it's a lot quieter than the old ones and has AC, it almost feels unreal.

my private memo is raising a lot of questions already answered by my private memo

This perfectly encapsulates why we need the BBC

Something absolutely perfect about Larry Summers riffing about the scourge of woke cancel culture being unfair to predatory men in a friendly email to his pal JEFFREY EPSTEIN.

the biggest lesson from the emails today is that powerful people are so unafraid of consequences for crimes as bad as “raping children” that they will just talk about it openly in emails

the only path to a better society is one where that is no longer true

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