Ovo Energy last week emailed customers a list of 10 “simple and cost-effective ways to keep warm this winter”. As well as cuddling pets for warmth, other tips included “challenging the kids to a hula hoop competition”, “doing star jumps”, and “cleaning the house”. It came as Britain’s cost-of-living crisis is expected to worsen. ... Ovo has since apologised for the tips, telling the FT: “We understand how difficult the situation will be for many of our customers this year. “We are working hard to find meaningful solutions as we approach this energy crisis, and we recognise that the content of this blog was poorly judged and unhelpful. We are embarrassed and sincerely apologise.”
Michael Shellenberger: A major new staff report from the New York Federal Reserve Bank throws cold water on the over-heated rhetoric coming from activist investors, bankers, and politicians. “How Bad Are Weather Disasters for Banks?” asks the title of the report by three economists. “Not very,” they answer in the first sentence of the abstract.
The reason is because “weather disasters over the last quarter century had insignificant or small effects on U.S. banks’ performance.” The study looked at FEMA-level disasters between 1995 and 2018, at county-level property damage estimates, and the impact on banking revenue.
Bjorn Lomborg: "Hurricanes in 2021 were unprecedented — as in unprecedentedly few. Globally, 2021 had the fewest hurricanes ever in the satellite era (1980-2021). Globally, 2021 had some of the fewest strong hurricanes in the satellite era (1980-2021). With 16 strong (Cat 3+) hurricanes, 2021 was the second-lowest strong hurricane year since 1980. Globally, 2021 was a weak hurricane year. When measured by total energy (Accumulated Cyclone Energy), 2021 was the 9th weakest year. Did you see that reported anywhere?
Hurricanes in 2021 were weak and exceptionally few. But we heard lots about North Atlantic hurricanes. Conveniently, North Atlantic is the only basin where hurricanes are stronger. Does this leave us well-informed?. But we hear lots about names storms (hurricanes + weaker storms). Ever-easier to detect, so numbers keep climbing (4 of 2020s 30 named storms wouldn't have been named in 2000!). Not as relevant, but hey, scary numbers."