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Economists warn of ‘Cold War rhetoric’ as global tensions rise

Business | Business News Economists have warned of “hardening Cold War rhetoric” as they said they expect the world to continue to tilt towards protectionist policies. A survey conducted towards the end of last year found that 87% of the 30 respondents thought recent geopolitical developments would stoke economic volatility around the world over the next three years. Eight in 10 said that they thought it would increase volatility in stock markets. It comes in a survey run by the World Economic Forum (WEF) as its annual meeting in Davos , Switzerland , kicks off this week. At the start of 2024, various alliances and simmering global…

What to know before the Iowa Republican caucuses

Republican voters in Iowa are getting their customary moment in the spotlight right now, as they’re due to convene their first-in-the-nation caucuses at 8 p.m. Eastern Monday, kicking off the 2024 GOP presidential race. But it’s not looking like much of a contest, as former President Donald Trump has big leads in most polls over rivals such as Nikki Haley, his former ambassador to the United Nations, and Florida Gov. Ron DeSantis. So a main focus is whether DeSantis or Haley could get second — and how close they’ll get to the former president. Another key is what level of support should Trump’s 2024 campaign want to see among Iowa…

West Coast Offshore Wind Transmission Planning

Offshore wind (OSW) in the United States has the potential to play a critical role in transitioning the nation to a clean energy future while improving the power system’s reliability and resilience, as well as providing economic opportunities and American jobs. From 2021 through 2023, the U.S. Department of Energy (DOE), in partnership with the U.S. Department of the Interior’s (DOI) Bureau of Ocean Energy Management (BOEM), have supported technical analysis and convening efforts for OSW transmission planning on the Atlantic Coast. As interest in OSW in the Pacific grows, DOE is expanding their transmission convening efforts to the…

Energy management systems (EMS) and the growing trend of EMS retrofits

Daniel Crotzer, CEO of energy storage software controls provider Fractal EMS, details what an energy management system (EMS) is and why it often needs to be replaced on operational battery energy storage system (BESS) projects. The energy management system (EMS) is the project’s operating system, it is the software that is responsible for controls (charging and discharging), optimisation (revenue and health) and safety (electrical and fire). The EMS coordinates the inverters, battery management system (BMS), breakers and fire system. But what happens when it does not work well? There is a trend in the industry to upgrade or…

First minister launches economic growth blueprint in Aberdeen

First Minister Humza Yousaf and Scottish Enterprise (SE) are launching a blueprint for economic growth in Aberdeen this morning. Mr Yousaf and SE chief executive Adrian Gillespie are unveiling SE’s new strategy during a visit to Granite City firm Verlume, which manufactures battery storage technology for use on seabeds. Scotland’s enterprise agency has an equity stake in Verlume, alongside private sector partners. SE believes its new “Focus on Economic Transformation” can unlock thousands of jobs. And it says it will help generate billions of pounds to transform the nation’s economy. Three missions, one goal – a brighter economic…