And Friedman Today

So the best minds are going back into the energy field:

December 2, 2007
Op-Ed Columnist
The People We Have Been Waiting For
By THOMAS L. FRIEDMAN
It was 60 degrees on Thursday in Washington, well above normal, and as I slipped away for some pre-Christmas golf, I found myself thinking about a wickedly funny story that The Onion, the satirical newspaper, ran the other day: “Fall Canceled after 3 Billion Seasons”:
“Fall, the long-running series of shorter days and cooler nights, was canceled earlier this week after nearly 3 billion seasons on Earth, sources reported Tuesday.
“The classic period of the year, which once occupied a coveted slot between summer and winter, will be replaced by new, stifling humidity levels, near-constant sunshine and almost no precipitation for months.
“‘As much as we’d like to see it stay, fall will not be returning for another season,’ National Weather Service president John Hayes announced during a muggy press conference Nov. 6. ‘Fall had a great run, but sadly, times have changed.’ ... The cancellation was not without its share of warning signs. In recent years, fall had been reduced from three months to a meager two-week stint, and its scheduled start time had been pushed back later and later each year.”
You should never extrapolate about global warming from your own weather, but it is becoming hard not to — even for professionals. Consider the final report of the U.N.’s Intergovernmental Panel on Climate Change (I.P.C.C.), which was just issued and got far too little attention. It concluded that since the I.P.C.C. began its study five years ago, scientists had discovered much stronger climate change trends than previously realized, such as far more extensive melting of Arctic ice, and therefore global efforts to reverse the growth of greenhouse gas emissions have to begin immediately.
“What we do in the next two to three years will determine our future,” said the I.P.C.C. chairman, Rajendra Pachauri.
And sweet-sounding “global warming” doesn’t really capture what’s likely to happen. I prefer the term “global weirding,” coined by Hunter Lovins, co-founder of the Rocky Mountain Institute, because the rise in average global temperature is going to lead to all sorts of crazy things — from hotter heat spells and droughts in some places, to colder cold spells and more violent storms, more intense flooding, forest fires and species loss in other places.
While the Bush team came into office brain dead on the climate issue and will leave office with a perfect record of having done nothing significant to mitigate climate change, I’m heartened that our country is increasingly alive on this challenge.
First, Google said last week that it was going to invest millions in developing its own energy business. Google described its goal as “RE < href="http://vds.mit.edu/" target="_">vds.mit.edu is “to identify the key characteristics of events like the race to the moon and then transpose this energy, passion, focus and urgency” on catalyzing a global team to build a clean car. I just love their tag line. It’s what gives me hope:
“We are the people we have been waiting for.”

Weather Futures

Each contract is referenced to one of 18 US cities. One HDD or CDD is worth $20. An HDD is 65 degrees F minus a given day's average temperature. A CDD is the day's average temperature minus 65 degrees.

Daily Examples:

1) A day in Kansas City having 14 HDDs is $100 colder" (per contract) than a day with 9 HDDs.

2) If a day in Tuscon averages 90 degrees F then there were 25 CDDs recorded. That day would be "$400 hotter" than a 70 degree F day with only five CDDs.

Monthly Examples:

(Each CME degree day futures contract is based on a specific calendar month, or series of months, and is financially settled according to the cumulative tally of the daily HDDs, or CDDs,