Beyond the Front Page

Beyond the Front Page

Beyond the Front Page is a weekly summary of facts and figured, broadly focused on U.S. and international economic issues.

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Eileen Doherty

A former White House aide to President Reagan, Eileen Doherty has years of experience in corporate communications strategy and public policy analysis.

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G. Philip Hughes

G. Philip Hughes draws on a wealth of high-level foreign policy experience in developing and managing message campaigns for international companies.

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London-based Rupert Darwall has two decades’ experience in finance and public policy, specialising in the intersection of the two.

WHWG Perspectives

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President Declares a Political War He is Bound to Lose

President Obama’s speech to the nation last night – carried on cable news channels but not on the broadcast networks – was a declaration of political war, a war the president is almost certain to lose. How nakedly political was it? According to morning press reports, the address was subtitled in Spanish. Perhaps the White House has provided this service before, but I can’t find a record of it. That the president’s team decided to do it for, apparently, the first time this time only confirms the obvious. The speech was not about national policy or the national interest. It was about confrontation. And indeed its raw political purpose was the reason the major television networks gave on background for refusing to carry it. Read the entire piece here.

The China Heist

President Obama called the energy agreement with China historic. The announcement is intended to “inject momentum” into the climate negotiations ahead of the December 2015 climate summit in Paris. Reuters described it as “largely symbolic.” True, China’s side of the deal is non-binding, including its aim to start reducing its greenhouse-gas emissions by around 2030. Symbolic it may be, but symbols matter. And the numbers on the Chinese side are truly staggering.

According to the White House briefing, China’s target to derive 20 percent of its energy from zero-carbon-emission sources would require China to build more wind, solar, and nuclear capacity than all its existing coal-fired power stations. At around 800 to 1,000 gigawatts, this would be almost as much as the total generating capacity of the United States. If it were split equally between wind, solar, and nuclear and constructed in the United States, the extra cost of this zero-carbon-generating capacity would be around $2 trillion. Even if costs in China are half those in the U.S., a trillion-dollar price tag in a $9.2 trillion economy is still a huge amount of money.

Read the entire piece here.