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Science

L A Instances Falsely Hypes El Nino Pushed Modest World Temperature Will increase as “File-Scorching” Local weather Change Outcomes • Watts Up With That?

Guest essay by Larry Hamlin

NASA GISS has released its El Niño driven October 2023 global average temperature anomaly value of 1.34 degrees C (2.412 degrees F) above the temperature anomaly baseline period of 1951-1980 (57.2 degrees F or 14 degrees C) which is the highest measured GISS October anomaly value (shown below). This October anomaly value represents a global absolute average temperature of 59.612 degrees F.

The second highest GISS measured October global average temperature anomaly occurred in 2015 with a value of 1.09 degrees C (1.962 degrees F) which represents a global absolute average temperature value of 59.162 degrees F reflecting a difference of 0.45 degrees F from the October 2023 value (0.75% growth during the last 8 years).   

This October 2023 anomaly value is below the El Niño driven September 2023 global average temperature anomaly value of 1.47 degrees C (2.646 degrees F) with this September value representing the highest GISS global average temperature anomaly measured to date which represents a global absolute average temperature of 59.846 degrees F. 

The highest GISS global average temperature anomaly value measured in September 2023 is comparable to the highest El Niño driven average temperature anomaly value that occurred in February 2016 (the last prior El Nino event) of 1.36 degrees C (2.448 degrees F) representing a global absolute average temperature of 59.648 degrees F.    

These two most recent El Nino driven NASA GISS highest global average temperature anomaly values represent a global absolute average temperature difference of 0.198 degrees F (0.33% difference during the last 7.5 years) as displayed in Table 1 below.

Comparing global absolute average temperatures for the months of June, July and August 2023 show that the difference between these months and the 2nd highest value for each of these months amounts to 0.27 degrees F for June (year 2022), 0.432 degrees F for July (year 2019) and 0.306 degrees F for August (Year 2016) with global absolute average temperatures of 59.126 degrees F, 59.324 degrees F and 59.342 degrees F respectively.

The NASA GISS global average temperature anomaly values for the months of June, July, August, September and October 2023 are characterized in an L A Times article as:

“Indeed, Monday’s announcement came only weeks after officials warned that 2023 is on track to become Earth’s warmest year on record following a record-hot June, July, August, September and October. The latest milestone is noteworthy, but also a reminder that it’s not too late to change course, said Zeke Hausfather, a research scientist with Berkeley Earth.”

Table 2 below shows these 5 months which the L A Times article characterizes as “record-hot” June, July, August, September, and October with Table 2 identifying both the “record-hot” global absolute average temperature value (degrees F) along with the global absolute average temperature increase (degrees F) for each respective month’s 2nd highest value and the year it occurred.

Apparently the L A Times wants its readers to falsely fear that earth is approaching some hyped critical warming threshold because in a global El Niño year “record-hot” global absolute average temperatures for June, July, August, September and October of year 2023 occurred with increased temperatures of 0.27 degrees F, 0.432 degrees F, 0.307 degrees F,  ,0.882 F and 0.45 degrees F respectively from their prior second highest values. 

The. L A Times climate alarmists flawed claims that global anomaly increased temperature levels are “hot” or “hottest” are grossly misleading and based on considering only temperature anomaly increases while concealing the impacts of these increases on the baseline period temperatures.  

An indicator of what is considered “hot” is provided by the World Health Organization (WHO) which has defined standards for healthy indoor temperatures. WHO recommends a minimum indoor temperature of 68 degrees Fahrenheit, but if you have children or are a senior 75 degrees would be appropriate with these temperatures far above the recent EL Nino driven “record-hot” global absolute average temperatures as discussed above.  

Global absolute average temperature measured levels ranging between 59.126- and 59.846-degrees F as noted in the above tables are grossly mischaracterized by climate alarmists as being “hot” or “hottest” by alarmists that concealed these absolute temperature values from the public and addressed only their respective temperature anomaly values.   

The L A Times has repeatedly mislead its readers with ridiculous climate alarmist propaganda articles that falsely use global average temperature anomaly increases to hype that these increases represent dangerous “heat” outcomes in the U.S. while concealing the absolute temperature U.S. data that shows their claims are completely wrong as addressed here, here and here.  

This latest L A Times article fails to provide long established global temperature anomaly data establishing that global temperatures change significantly during periods of El Niño’s as shown below with the UAH satellite data showing significant temperature anomaly spikes occurring in prior El Niño years in 1998, 2016 and now again in 2023. These natural climate created El Niño driven temperature spikes are always followed by reduced global temperature anomalies after the El Niño event has subsided as clearly shown in the UAH data record that is concealed by the Times.

The Times article latches onto the incredibly misleading claims hyped by Europe’s Copernicus Climate Change Service that the planet’s anomaly temperature “soared 2.07 degrees Celsius above preindustrial levels, or the 1850 to 1900 average” based on a couple of mid-November 2023 days measurements threatening to reach the climate model grossly flawed IPCC’s claim that a 2-degree Celsius increase global average temperature anomaly level represents a “critical climate threshold”. 

The 1850 to 1900 period used by Copernicus was at the end of the “little ice age” climate era where many global climate regions experienced extremely low temperatures.  

NASA GISS uses a 1951 to 1980 baseline period average to evaluate preindustrial temperature levels for determining temperature anomalies along with evaluating temperature anomaly data in the period from 1880 to 2023. Europe’s Copernicus Climate Change Service use of a preindustrial average baseline period between 1850 to 1900 deliberately biases their anomaly data to a time of very low global temperatures that existed due to the Little Ice Age climate event between 1300 and 1850. 

The flawed climate model driven 2-degree “threshold” increase in global average temperature anomaly hyped by alarmists would occur much more quickly for a low temperature biased baseline period between 1850 to 1900 versus the 1951 to 1980 period used by NASA GISS.

The flawed climate alarmist claims of a 2-degree increased global temperature anomaly climate “critical threshold” limit are absurd. These claims are based on a scientifically flawed climate model referred to as RCP8.5 that was rejected by the most recent UN Intergovernmental Panel Assessment AR6 Report. Roger Pielke Jr. addresses the misuse of the RCP8.5 climate model as:

“Like all propagandists, government entities do not abandon concepts that are effective, even if they are false. The RCP8.5 scenario was abandoned in the report of Working Group I, The Physical Science, of the UN Intergovernmental Panel on Climate Change (IPCC) Assessment Report (AR6, 2021). But the unrealistic scenario reappeared under a different name in the politically written Summary for Policymakers and the Synthesis Report, March 20, 2023.”

He further addresses the misuse of the rejected RCP8.5 climate model in the recent Fifth National Climate Assessment report by noting: 

“Again, in NCA5 there is no effort to establish the warming influence of carbon dioxide based on physical evidence of what is occurring in the atmosphere. It is all speculation from global climate models that are demonstrated to be false. US government agencies will not abandon these defective models, or insist that they be reliable, because they are effective propaganda tools. Climate modelers will continue to adjust the models to comply with recorded history, then drop the adjustments when making predictions/ projections. Eventually, the US public will suffer from highly misguided policies, such as wind and solar providing affordable, reliable electricity, and trust in the government will erode.”

Climate scientist Dr. Judith Curry characterized the RCP8.5 climate model as:

“RCP8.5 is sometimes referred to as a ‘business as usual’ scenario. It is not. Rather, it is an extreme scenario”.

The graph below shows the yearly NASA GISS global surface average temperature annual comparisons for years 1880 – 2022. 

The top graph format used by the GISS is incredibly misleading and grossly exaggerates reported anomaly values, that in the top graph below, have been converted to their global absolute average temperature values. The bottom graph shows the GISS yearly absolute average temperature values starting with a zero-degree F absolute temperature value, so the entire measured temperature range scale is provided for comparisons.

Both graphs show the same global absolute average temperature outcomes in degrees F, but the top graph format is used to grossly exaggerate the global average temperature anomaly results as hyped by climate alarmists. Just more climate alarmism propaganda deception and distortion.   

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Entertainment

Israel-Hamas Truce Reportedly Prolonged For Two Extra Days

The temporary Israel-Hamas truce will be extended for another two days, Qatar’s Foreign Ministry said on Monday.

The announcement comes on the final day of a four-day truce between the warring sides. The Israeli military said Monday evening that 11 hostages were handed over to the Red Cross in Gaza and were on their way to Israeli territory, marking the start of the fourth swap under the original truce.

The release came hours after Qatar’s Foreign Ministry said Israel and Hamas have agreed to extend their truce.

RELATED: Detroit Becomes Largest U.S. City Calling For Ceasefire As Israel And Hamas Agree To Temporarily Halt Fighting

Israel has said it would extend the ceasefire by one day for every ten additional hostages released. After the announcement by Qatar — a key mediator in the conflict, along with the United States and Egypt — Hamas confirmed it had agreed to a two-day extension “under the same terms.”

Results Of The Israel-Hamas Truce So Far & What’s Next

Of the roughly 240 hostages captured by Hamas in its Oct. 7 attack in southern Israel that ignited the war, 62 have been released. Israeli forces freed one, and two were found dead inside Gaza.

Israel is set to release 33 Palestinian prisoners later Monday.

With the truce deal has come increased shipments of fuel and supplies into Gaza — although aid groups say it’s still barely enough to dent the needs of the 2.3 million Palestinians in Gaza who have endured weeks of Israeli siege and bombardment.

RELATED: Police And Protesters Clash Outside Democratic HQ Following A Candlelight Vigil Calling For Ceasefire In Israel-Hamas Conflict

More than 13,300 Palestinians have been killed since the war began, roughly two-thirds of them women and minors, according to the Hamas-controlled Health Ministry in Gaza, which does not differentiate between civilians and combatants.

Israeli Prime Minister Benjamin Netanyahu has said he will press ahead with the war after the ceasefire expires. Some 1,200 people have been killed in Israel, mainly during the initial incursion by Hamas. At least 77 soldiers have been killed in Israel’s ground offensive.

Israel Claims Aid Has Entered Gaza Amid Truce

Additionally, Israeli officials reportedly said around 200 container trucks brought humanitarian aid into Gaza on Monday after being inspected by Israel. Some resources included “a small amount of fuel,” per the Israeli military body that handles civilian affairs.

“Four containers carrying diesel fuel and four containers carrying cooking gas were transferred from Egypt to U.N. humanitarian aid organizations in the Gaza Strip through the Rafah crossing,” COGAT said in a statement.

The aid trucks brought “food, water, shelter equipment, and medical supplies,” the statement said.

Associated Press’ live updates here contributed to this report in addition to TSR Staff.

Categories
Health

Mounjaro superior to Ozempic for weight reduction, examine says

The blockbuster diabetes drug Mounjaro is more effective for weight loss than another highly popular diabetes treatment, Ozempic, in overweight or obese adults, according to a large analysis of real-world data published Monday.

Patients taking Eli Lilly‘s Mounjaro were significantly more likely to lose 5%, 10% and 15% of their body weight overall and saw larger reductions in body weight after three months, six months and a year compared with those on Novo Nordisk‘s Ozempic in the study by Truveta Research. The firm compiles and analyzes patient data from a collective of health-care systems. 

The results come as both drugs and similar treatments approved for weight loss soar in demand in the U.S. for their ability to help patients shed unwanted pounds over time. Mounjaro and Ozempic are only approved for the treatment of Type 2 diabetes, but many people use the weekly injections off-label to lose weight. 

A spokesperson for Eli Lilly said the company does not promote or encourage off-label use of any of its medicines and noted that the new study was not sponsored by the drugmaker. Novo Nordisk did not immediately respond to a request for comment on the new study.

Previous head-to-head studies have similarly suggested that Mounjaro is more effective than Ozempic for weight loss and controlling blood sugar in adults with Type 2 diabetes. 

But Monday’s study confirms Mounjaro’s edge over Ozempic in a real-world setting, specifically among adults who are overweight or obese. Notably, head-to-head clinical trials in that population are not yet available, according to Truveta Research. 

Eli Lilly is pitting the weight loss counterparts to Mounjaro and Ozempic in an ongoing clinical trial in obese or overweight patients. But results on the drugs, which are Eli Lilly’s newly approved Zepbound and Novo Nordisk’s Wegovy, won’t be released until 2025.

“We’ve been able to compare the head-to-head efficacy of these two important medications for weight loss in advance of randomized clinical trials,” said Dr. Nick Stucky, an author of the study and vice president of Truveta Research, in a statement. “This study can help to inform patient care and outcomes today, not months from now.”

Study results on Mounjaro and Ozempic

Truveta Research specifically examined health-care data on roughly 18,000 adults who are overweight or obese and first started taking Mounjaro or Ozempic between May 2022 and September 2023. Nearly 52% of those patients had Type 2 diabetes.

Researchers found that patients taking Mounjaro were three times more likely to lose 15% of their weight than those on Ozempic. Patients on Mounjaro were also 2.6 times more likely to achieve 10% weight loss and 1.8 times more likely to lose 5% of their weight.

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Those taking Mounjaro also experienced “significantly larger reductions” in body weight at specific time points, according to Truveta Research.

At three months, patients on Mounjaro lost 5.9% of their weight, while those on Ozempic lost 3.6%. At six months, people taking Mounjaro lost 10.1% of their weight, while patients on Ozempic lost 5.9%. And at one year, those on Mounjaro lost 15.2% of their weight, while those on Ozempic lost 7.9%.

Truveta Research also found that patients without Type 2 diabetes lost more weight than those with the condition. But the differences in effectiveness between Mounjaro and Ozempic were similar in both populations.

Rates of adverse gastrointestinal events were similar between patients taking Mounjaro and Ozempic.

The big difference between the weekly injections

Mounjaro and Ozempic, along with their weight loss counterparts, are both weekly injections that change the way patients eat and lead to decreased appetite by mimicking certain hormones in the gut. 

Ozempic and Wegovy only mimic one hunger-regulating hormone called glucagon-like peptide-1, also known as GLP-1, which increases the feeling of fullness and lowers blood sugar levels.

Meanwhile, Mounjaro and Zepbound mimic GLP-1 and another hormone in the gut called glucose-dependent insulinotropic polypeptide, or GIP.

The dual approach means that Mounjaro and Zepbound have an enhanced effect on regulating appetite and blood sugar levels, which some experts say could potentially lead to more significant weight loss than medications only targeting GLP-1. 

In Eli Lilly’s late-stage study of more than 2,500 adults with obesity but not diabetes, those taking 5 milligrams of Zepbound for 72 weeks lost about 16% of their body weight on average. Higher doses of the drug were associated with even more weight loss, with a 15-milligram dose leading to 22.5% weight loss on average.

More than 2 in 5 adults have obesity, according to the National Institutes of Health. 

About 1 in 11 adults have severe obesity.

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Categories
Technology

Need engineering superpowers? This GenAI startup is right here to assist

Say the application that has not been attributed to generative AI by now. Anything from your virtual boyfriend/girlfriend to vaccines and the energy transition will apparently be solved by the tech currently sweeping the globe. PhysicsX, a UK-based startup “on a mission to reimagine simulation for science and engineering using AI,” wants to add advanced tech superpowers to the list.

The company, with a team of more than 50 simulation engineers, machine learning and software engineers, and data scientists is building AI it says will dramatically accelerate accurate physics simulation. This will enable generative engineering solutions for sectors including aerospace, automotive, renewables, and materials production. 

PhysicsX says it is looking to solve engineering bottlenecks. These include time-consuming physics simulation, painstaking reconciliation of virtual simulation and real-world data collection, as well as the many limitations of optimising over a large design space. 

The company, co-founded by theoretical physicist and former head of R&D at Formula One team Renault (Alpine) Robin Tuluie, just announced a €30mn Series A funding round led by US-based VC firm General Catalyst. 

“Engineering design processes were transformed by numerical simulation and the availability of high-performance compute infrastructure,” Tuluie, also the company’s co-CEO, commented.

“The move from numerical simulation to deep learning represents a similar leap and will unlock new levels of product performance and ways of practising engineering itself. PhysicsX exists to help pioneer and enable that transformation, giving engineers and manufacturers superpowers in bringing new technologies to the real world.” 

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Coming up against the limit of today’s computational tools

Standard Industries, NGP Energy, Radius Capital, and KKR co-founder and co-executive chairman, Henry Kravis, also participated in the round. The capital will allow PhysicsX to grow across customer delivery and product. It will also support its fundamental research to advance its AI models and methods. 

“Our customers are designing the most important technologies of our time, including wind turbines, aircraft engines, electric vehicles, semiconductors, metals, and biofuels,” Jacomo Corbo, co-founder and co-CEO, said. However, they are now exceeding the limits of today’s computer aided tools, which is what PhysicsX has set its technology against. 

“We’re delighted that this financing will enable us to partner more deeply with our customers to enable breakthrough engineering,” Corbo added. 

Categories
Science

JWST Reveals Protoplanetary Disks in a Close by Star Cluster

The Orion Nebula is a favourite among stargazers, certainly one of mine. It’s a giant stellar nebula out of which, hot young stars are forming. Telescopically to the eye it appears as a grey/green haze of wonderment but cameras reveal the true glory of these star forming regions. The Sun was once part of such an object and astronomers have been probing their secrets for decades. Now, a new paper presents the results from a detailed study from the James Webb Space Telescope (JWST) that has been exploring planet forming disks around stars in the Lobster Nebula.

The concept that a stellar nebula collapses to form a star was first proposed in the early 1900’s by English astronomer James Jeans. Since then we have developed a model to describe not only the birth of stars but their evolution and subsequent death. The process goes on to describe how hot young stars are often accompanied by disks of material from the nebula and these proto-planetary disks can collapse to form planets. 

Atacama Large Millimeter Array of planetary disk around HL Tauri (Credit : ALMA)

To understand all aspects of planetary system formation it is important to study them in their varied environments, unfortunately these systems are not too common and often obscured by dust causing observational difficulties. Many of the young planetary systems form where there are high levels of UV radiation especially in massive star forming regions like 6357.

A fine example of a stellar nursery is the Lobster Nebula otherwise known by the less catchy title NGC6357 (from the New General Catalogue). The nebula is located in the constellation Scorpius at a distance of 6,000 light years – remember a light year is a measure of distance defined by the distance light can travel in one year. It’s easier to say 6,000 light years than 57,000,000,000,000,000km!

A team of astronomers have turned JWST onto NGC6357 to probe deep inside the nebula.    The area under scrutiny hosts numerous massive OB stars, among them the most massive stars in the Galaxy. The team targeted 15 disks in three areas hoping it would help understand the impact of environment on planet formation.  They studied a disk known as ‘XUE 1’ and explored its inner disk (within 10 astronomical units – 1 AU is the average distance between the Sun and Moon). In their paper they report on the abundance of water, carbon monoxide, hydrogen cyanide and acetylene to a distance of within 1 astronomical unit – this would be impossible without JWST.

The findings reveal that water and other molecules are present in the inner regions of the disk where the terrestrial planets might form. This is in a region which is perhaps one of the most extreme environments in the Galaxy. It shows that the conditions for terrestrial planet formation is as likely in high mass star forming regions as it is in low mass!  The team also identified that dust grain growth has started with structures detected that could eventually lead to planets in systems at 0.5 Myr old. It seems then that planet formation may be well underway or indeed have happened despite the extreme environment.

Source : Molecular inventory in the inner region of an extremely irradiated Protoplanetary Disk

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Sport

Payments DE Shaq Lawson confronts, seems to shove Eagles fan

Nov 27, 2023, 01:07 AM ET

PHILADELPHIA — Bills defensive end Shaq Lawson confronted Eagles fans and appeared to shove one of them during Buffalo’s loss to Philadelphia on Sunday night.

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Lawson, defensive tackle Jordan Phillips and other Bills players walked from the sideline toward the front row of stands at Lincoln Financial Field and started jawing at Eagles fans. Phillips got close to one fan’s face before Lawson walked up and seemingly made physical contact with the spectator, according to video circulating on social media.

Security eventually intervened and the fan continued to shout toward the Buffalo players. Defensive end Leonard Floyd tried to defuse the situation and walked the players back to the sideline.

The Bills did not immediately respond to an email from The Associated Press seeking comment Sunday night.

The Eagles beat the Bills 37-34 in overtime.

The Associated Press contributed to this report.

Categories
Entertainment

Beyoncé Sparkles in Silver Robe at Renaissance Movie Premiere

You may fall crazy in love with Beyoncé‘s sparkling style at her own film premiere.

The 29-time Grammy winner did not join fellow celebs on the red carpet at the screening of her tour documentary Renaissance: A Film By Beyoncé Nov. 25. She was fashionably late, walking into the event at the Samuel Goldwyn Theater in Beverly Hills as the lights were dimmed, Variety reported, and later released on her website photos of herself posing in a strapless silver Versace gown, paired with matching long gloves and sandals.

“@beyonce, you are a vision in Versace,” Donatella Versace wrote on Instagram. “You are unique. One of one, the number one, the only one!!! I can’t wait to see the Renaissance tour movie.”

Per multiple outlets, the premiere had a dress code—”cozy opulence”—and many celebrities wore metallic and sparkling outfits like the guest of honor, who had requested her concert attendees wear silver during her Renaissance tour, which ended in October.

Categories
Health

Why the American Purple Cross makes cash from donated blood

The American Red Cross has long been recognized as the universal symbol of humanitarian services —and it’s an expensive operation.

In 2022, the American Red Cross generated more than $3.2 billion in operating revenue and spent just over $3 billion in expenses the same year, according to its financial statements.

Contributions only make up about a third of the organization’s revenue.

“It’s really sort of the charity of choice,” according to Jake Johnston, a senior research associate at the Center for Economic and Policy Research. “When the White House starts raising money, when the big corporations, the NFL, Hollywood A-listers are raising money for the aftermath of a disaster, it’s most likely targeted toward the American Red Cross.”

But the majority of its revenue, just over $1.8 billion, comes from what its financial statements refer to as “Biomedical services.”

“The American Red Cross essentially collects blood from donors and then as part of the way it raises revenue to recover costs, then sells that blood to about 2,500 hospitals and medical facilities across the country,” said Laurie Styron, CEO and executive director of CharityWatch.

When CNBC inquired about the pricing of these products, the American Red Cross responded that “prices for a unit of red blood cells is proprietary information. The pricing is determined by purchase volumes by blood type, service levels, and delivery requirements as well as other agreed upon terms with a hospital.”

The American Red Cross further clarified that it “does not charge for the blood itself” but is “reimbursed by hospitals and transfusion centers for the costs associated with providing blood products.”

A majority of the American Red Cross’ operating expenses, just over $2 billion, is also spent on collecting blood, according to its financial statements. That’s about $139 million more than the revenue it collects from selling the blood.

Michael Thatcher, CEO of Charity Navigator said, “drawing blood is actually a medical intervention that requires certain levels of certification by the people doing that work, the preservation of that blood, making sure that it stays clean and getting them to all these places. All of that costs money.”

Watch the video above to see how the American Red Cross makes and spends its billions.

Categories
Science

Who Issues? • Watts Up With That?

Guest Opinion by Kip Hansen — 26 November 2023

The inimitable NY Times graphics department produced a useful and informative graphic about “the top 60 power-producing countries” (meaning electrical production)  and what power source —  renewable or fossil fuels (by type) —  they have been using to make that electricity.  The purpose of the graphic was apparently to show how well some countries are doing in ramping down fossil fuels and ramping up renewables.

[Note:  If the page appears pay-walled, use your Private Browser function and should be able to see the story and graphics.]

The whole chart is shown natively using different scale for each country, as the authors wish to accentuate the trends.

Here is one example: (fair use…)

The UK is doing great, huh?  Almost totally eliminated their local coal and ramped up renewables.   Looking at the NY Times graphic with “See Trends” selected in the upper right corner, you can find lots of countries really on the bandwagon saving the Earth from fossil fuel pollution.    Take a look at the chart online — can’t reproduce too much of their piece without running afoul of copyright, but this is an opinion piece and fair use allows some reasonable reproduction.

The point of this OpEd is to point out what happens to the graphic when one switches the view to :  Compare Totals .

This next image is long and tall, intentionally small, and at this reduced size you will be only able to see the point I wish to make, scroll down through it:

In the Compare Totals view it is obvious that only five or six (maybe eight) of those Top 60 Countries actually matter as far as use of fossil fuels to produce electricity: 

One might add a couple more of EU nations and maybe South Korea and Indonesia, France, Brazil, maybe Canada:  those with more than a thin line at the bottom of their charts. 

But as far as fossil fuel burning to produce electricity, ONLY those nations above really matter in the present.  And, if one wants to be more precise, only China, the United States, and India matter.

All the hoopla about COP28, all the travel, the extravagance, the pontification, speeches, grandstanding, handshaking and general pretense that they are “doing something” will amount to nothing.

Nothing if those “those countries that matter” do not agree to make the huge, economy-crushing, socioeconomically-harmful, nation-destroying decisions that are being demanded of them by “The Climate Crazies” (remember the declaration of the “era of global boiling”).

I doubt that they will agree – these countries will do what they have been doing the last 25 years:  making promises and keeping only those that are convenient and profitable.

# # # # #

Author’s Comment:

“I could be wrong now, but I don’t think so.”  (h/t Randy Newman)

I guess we’ll see, won’t we?

Thanks for reading.

# # # # #

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Technology

On the subject of startups, little Luxembourg packs a giant punch

Sandwiched between Germany, France, and Belgium, the tiny country of Luxembourg is one of Europe’s smallest, but also its wealthiest — its residents enjoy the second-highest per capita income in the world.

Key to this success is its thriving financial services sector which has helped draw several big names to the Grand Duchy, including the European Investment Bank and Amazon. It’s no surprise then that fintech has been identified as the tech sector with the greatest growth potential in the region. 

Luxembourg was also one of the world’s biggest investors in AI per capita in 2021, surpassed only by Israel, the US, and Sweden (in that order). The National Research Fund has allocated €200mn to AI research projects over the past five years. To help power these advancements is Meluxina, one of Europe’s most powerful supercomputers.  

While only home to 600,000 people, Luxembourg’s thriving economy, modern infrastructure, international workforce, and generous government grants, which cover up to 80% of R&D costs, allow it to punch above its weight as a hub for emerging tech startups.   

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Well-known success stories include social media analytics and monitoring tool Talkwalker, and online jobs board JobToday. OCSiAI, a producer of graphene nanotubes, made headlines in 2019 when it joined Europe’s growing list of tech unicorns.  

Located in downtown Luxembourg City, House of Startups is the epicentre of the country’s tech ecosystem. Credit: House of Startups

“Although Luxembourg is a small country, it shares its borders with two of Europe’s biggest economies,” pointed out Kenneth Graham, CEO of Tomorrowstreet, a Luxembourg-based innovation centre that focuses on scaling late-stage deep tech startups.  

“Half the population come from somewhere else and many have connections with people all over the world, including Silicon Valley and the UK. This diversity of thought really makes the country a special place to do business,” he said. 

Almost 50% of Luxembourg’s workforce commute from neighbouring countries, and 80% of the population speaks English.

A 2022 report from Startup Genome found that startup funding deals in Luxembourg increased five-fold between 2012 and 2021. Notably, the availability of seed funding in the country is considerably higher when compared to peers with similar-sized economies. Although it performs worse when it comes to later-stage investments.

This growth is undoubtedly partly thanks to the emergence of multiple startup initiatives in recent years, such as the government-backed Fit4Star program. Another is House of Startups, a place where incubators, accelerators, investors, and startups are all housed under one roof in the downtown Gare district of Luxembourg City. Funded by the Chamber of Commerce, the centre houses a whopping 200 of the country’s 521 tech startups.  

All of this puts Luxembourg’s tech ecosystem on track to continue its upward growth trajectory in coming years, not just in fintech but also SaaS, climatetech, spacetech, and manufacturing.

Five startups to watch  

1. Circu Li-ion

Founded just two years ago, this climatetech startup has developed an automated upcycling solution that enables the sustainable recycling of lithium-ion cells for reuse at scale. Last month, the company raised €8.5mn in seed funding.

Circu Li-ion’s services come at an opportune moment for the company (and the planet), following the EU’s new battery regulation, which aims to ensure a circular economy and will require mandatory minimum levels of recycled elements for EV batteries.  

2. Salonkee 

Founded in 2016, Salonkee has developed an online reservation platform to streamline the booking of hair or beauty appointments. The startup has raised €35mn so far and is already profitable. It currently has 110 employees across offices in Luxembourg, Belgium, Switzerland, Germany and the Netherlands. 

3. Next Gate Tech

Next Gate Tech is a data-driven fintech that provides SaaS solutions for the asset management industry. Basically, it helps banks and the like automate the boring and repetitive aspects of data management (I thought it was all boring!). Since launching in 2020, the startup has raised €17mn, and is valued at close to €50mn, according to data from Dealroom.

4. OQ Tech

This spacetech startup has developed a constellation of satellites that allow IoT devices on Earth to stay connected even when there is no cellphone reception. It can also support bi-directional communication to machines such as banking ATMs in poor connectivity areas. Five of the company’s satellites are already in orbit. Oil and gas giant Saudi Aramco is OQ Tech’s largest customer and invested €13mn into the startup last year.  

5. nZero

Last but not least is nZero, a carbon management platform that gives NGOs, government agencies, and organisations accurate data on their carbon emissions. It offers insights across all three emissions scopes, including embodied carbon which is often left out from many carbon calculating tools. So far the company has raised €15mn and racked in almost €8mn in revenues last year.