Typically excellent piece from @dsquareddigest The exponential insight is especially neat. Think of it a little like fishing...today you can’t export oysters to the EU (because you simply aren’t allowed to), tomorrow you don’t have a fish exporting business (to the EU).
London's status as a financial centre isn't as secure as some might think | Dan Davies https://t.co/q9SU7ra4oF
— The Guardian (@guardian) February 13, 2021
I refer you to Brexit. But kidding aside, the balance between economic optimality and, to coin a phrase, taking back control is not at all straightforward.
I refer you to the financial crisis.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Well. Maybe. London has a v substantial scale / incumbency advantage. But ofc (as Dan points out) that does not mean that those new opportunities will necessarily arise in London.
More from Yet Another Columnist
More from Government
Abbott is pushing a lie to protect incompetence. There is no Federal oversight of the Texas Grid, ergo fewer regulations (sound familiar) - so point one: state legislature needs reform. 2/
2. Point 2: there were clear signs the grid would get overloaded under extreme cold conditions. Why? Due to a vacuum of regulations mandating winterization of turbines and power generators. This from sources, in Texas!
3. Point 3: Of the power shortfall that hit Texas, over 80% was due to problems at coal and gas fired plants. Power generators were just not winterized. Decisions to do so have been ignored since the 1990s.
4. Point 4: these are winterized wind turbines in Denmark. The ocean is frozen. The turbines are generating.
5. #Texas| the main issue is: catastrophic governance at the State level (no Federal oversight of the Texas grid) failing to allocate funding to winterise the Natural Gas, Coal and Wind Turbine elements that contribute to the grid. (~ 80/20
Texas Gov. Abbott blames solar and wind for the blackouts in his state and says "this shows how the Green New Deal would be a deadly deal for the United States of America" pic.twitter.com/YfVwa3YRZQ
— Andrew Lawrence (@ndrew_lawrence) February 17, 2021
2. Point 2: there were clear signs the grid would get overloaded under extreme cold conditions. Why? Due to a vacuum of regulations mandating winterization of turbines and power generators. This from sources, in Texas!
3. Point 3: Of the power shortfall that hit Texas, over 80% was due to problems at coal and gas fired plants. Power generators were just not winterized. Decisions to do so have been ignored since the 1990s.
4. Point 4: these are winterized wind turbines in Denmark. The ocean is frozen. The turbines are generating.
Same thing in Denmark. It's cold enough here that the ocean is frozen and yet look at those reliable windmills just chugging along. pic.twitter.com/1NTljk7hk9
— Elizabeth Gummere (@BethGummere) February 17, 2021
5. #Texas| the main issue is: catastrophic governance at the State level (no Federal oversight of the Texas grid) failing to allocate funding to winterise the Natural Gas, Coal and Wind Turbine elements that contribute to the grid. (~ 80/20