- I did — I mean, I did okay, but I’m not particularly proud of anything I did there, except for one little paper I wrote, in which [laughs] — see, this is called the contrarian part — is I showed — people were very excited about the large N limit, so I took this toy model, and I showed that in the large N limit, it actually produced something nonanalytic, as in like, you could not, in any order of 1 over an expansions, ever see what the answer was that was exact at N equals infinity.
- Before that took place, I remember Johnson called me into his office one day and he wanted to know if I would like to work on… well, Buckley had sent a memorandum asking for temperature regulators for buried cable.
Oil giant BP swings to a $17 billion loss and slashes its dividend for the first time in a decade as coronavirus turns the energy sector upside down
- Oil giant BP swung to a huge loss in the second quarter as it reported the continued effects of the coronavirus pandemic.
- The London-based energy giant showed a loss of $16.8 billion in the second quarter of 2020, in sharp contrast to a profit of $1.8 billion a year ago.
- In adjusted terms, the company posted a net loss of $6.7 billion, compared to net profits of $2.8 billion last year.
- The oil-and-gas company's shares are down more than 40% year-to-date, but jumped around 7% in morning trade in London.
- The company's overall loss included a net post-tax charge of $10.9 billion for non-operating items, or activities not related to its core business.
- While almost every part of BP's business was hit hard due to the pandemic's impact on fuel consumption, "oil trading delivered an exceptionally strong result," the company said.
BP Reports $17.7 Billion Loss, Cuts Dividend
- LONDON— BP BP 0.23% PLC cut its dividend for the first time in a decade, in a reset that would enable it to pivot away from oil and gas and invest more in low carbon energy, marking the most dramatic transition plans yet from an oil major.
- The British energy giant aims to increase its low carbon investments to $5 billion a year by 2030, from around $500 million, at the same time as seeing its oil and gas production fall by 40% from 2019 levels.
- BP’s decision Tuesday caps one of the worst quarters ever for the world’s biggest oil companies, all of which reported losses and warned of more pain to come as the coronavirus pandemic continues to sap global demand for fossil fuels.
- Companies, including BP and Shell, have questioned whether oil demand will fully recover to pre-pandemic levels, or whether coronavirus could accelerate the transition to greener energy.
Why sustainable start-ups should consider corporate venture capital first
- Perhaps surprisingly, it’s not so much angel investors as corporate venture capital that can help these firms grow.
- Usually, new ventures begin with angel investors and move on to venture capital and other types of more sophisticated financiers who can further develop and market the firm.
- According to our findings, the sustainable sector gains that legitimacy with corporate venture capital over other types of investors.
- A corporate venture capital firm may choose to invest in a venture with promising technology, even if the company has weak management or an unlikely strategy; sometimes, they just want to learn from another’s technology to help them make strategic choices about future technological options.
- Overall, a corporate venture capital endorsement of a new venture and its potential acquisition suggests to the market that the company is poised to be a disruptive winner in the industry.
The Art of Not Thinking to Get Things Done
- After years of feeling guilty about not wanting to do everything, I realized I don't need motivation to get things done.
- I realized that the hardest part of doing things I don't want to do is usually not the activity itself, but getting started.
- I like to describe the amount of energy I need for a task I don't want to do as an exothermic reaction.
- In this reaction, the reactants (me) need a minimum activation energy (motivation) for the reaction (task) to occur.
- In short, you have increased the minimum activation energy required to start the task.
- On the other hand, if you don't think about the task, you can avoid the entire process of arguing with yourself and making decisions that you will feel guilty about.
- That way, you can avoid making too many decisions and associating the internal turmoil that stems from that process to the activity itself.
Regal swamped for new emerging companies fund
- Street Talk can reveal Regal will shut the books on its new Regal Emerging Companies Opportunities Fund on Tuesday, only one week after launching the mooted $50 million raising.
- Regal's Rob Saunders, who heads up its wholesale and family office team, told clients on Monday that the firm had been "humbled by the significant support and early interest" in the fourth and final small caps fund.
- According to an investor presentation seen by Street Talk, Regal's first emerging companies opportunities fund (RECF) has returned 47 per cent net of fees since it started in November 2016, while RECF2 has grown 29 per cent since April 2018 and RECF3 is up 69 per cent since launching last August.
- Driving gains in RECF3 was a large holding in New York-based buy now, pay later company QuadPay, which ASX-listed Zip Co bought in June in a deal revealed by this column.
Marathon Petroleum to Sell Gas-Station Chain to 7-Eleven Owners for $21 Billion
- Fuel maker Marathon Petroleum Corp.
- said it has agreed to sell its gas stations to the owners of the 7-Eleven convenience store chain for $21 billion in the largest U.S. energy-related deal of the year.
- The all-cash agreement with 7-Eleven Inc. comes less than a year after Marathon agreed to spin off its convenience-store chain, known as Speedway, under pressure from activist investors including Elliott Management Corp.
Why Are Plants Green? The Answer Might Work on Any Planet
- But to learn why plants reflect green light, Gabor and a team that included Richard Cogdell, a botanist at the University of Glasgow, looked more closely at what happens during photosynthesis as a problem in network theory.
- Gabor and his team developed a model for the light-harvesting systems of plants and applied it to the solar spectrum measured below a canopy of leaves.
- Their work made it clear why what works for nanotube solar cells doesn’t work for plants: It might be highly efficient to specialize in collecting just the peak energy in green light, but that would be detrimental for plants because, when the sunlight flickered, the noise from the input signal would fluctuate too wildly for the complex to regulate the energy flow.
- The model’s predictions matched the absorption peaks of chlorophyll a and b, which green plants use to harvest red and blue light.
Oil-rich UAE opens the Arab world's first nuclear power plant. Experts question why
- Unit 1 of the Barakah plant in the Al Dhafrah region of Abu Dhabi started producing heat on Saturday, the Emirates Nuclear Energy Corporation said in a statement.
- The corporation said the construction of Unit 2 has finished recently, while the other two reactors are still being built -- even though the original schedule called for the plant to become operational by 2017.
- Once completed, the four reactors, which are using South Korean technology, should produce 5.6 gigawatts of electricity and supply up to 25% of the UAE's electricity needs, the corporation said.
- The new plant is part of the UAE's plan to become less reliant on oil and gas, the current source of the vast majority of its energy.
- However, some experts have questioned the need for the nuclear power plant given the country's potential to develop solar energy and the tensions surrounding nuclear power in the Middle East.
Changing how we make solar panels could reduce their carbon emissions
- The team found that a new type of solar panel made from two layers of a mineral called perovskite requires a smaller total energy input and results in fewer carbon emissions.
- Perovskite solar cells have only been around for the past decade, and perovskite-perovskite tandem cells are only a couple of years old and not yet widely commercially available, says You. His team analysed the carbon footprint and environmental impact of each solar panel over its lifespan, as well as how much time it would take for a panel to generate the amount of energy required to produce it – a measure known as energy payback time.
- The group also calculated that in its lifespan, the perovskite tandem cell has an associated emission of about 10.69 grams of carbon dioxide equivalent per kilowatt-hour of electricity it generates, which is only 43.4 per cent of the emissions for silicon solar panels.