What happens when utility companies guess wrong when forecasting prices in a newly emerging government regulatory regime? And what can be done to reduce those forecasting errors? Those are two of the questions that Cuicui Chen, Ph.D. ’18, set out to answer when she launched her doctoral research project at Harvard Kennedy School.Chen, who came to HKS after earning an undergraduate degree in engineering at Tsinghua University in her native China and a master’s degree in technology and policy at M.I.T., began asking questions like these as she grew more curious about the intersection of engineering, technology, and policy. She applied to the Ph.D. in Public Policy (PPOL) Program at Harvard, she says, in hopes of delving deeply into these issues.Chen’s dissertation consisted of three separate papers, one of which (referred to as the “job market paper”) focused on the world’s first large-scale cap-and-trade program, the Acid Rain Program, which began in the mid-1990s following passage of the 1990 Clean Air Act.The Clean Air Act paved the way for the formation of a unique emissions permit trading regime, creating an incentive for polluters to adopt cleaner technologies by allowing them to buy and sell pollution permits on the open market. The new regime, while visionary in scope, was also fraught with challenges as utility companies and other polluters began developing strategies based on forecasts of future market conditions at a time when the market itself was nascent and relatively volatile. Chen says when the program started, the industrial forecast for the future pollution permit price was quite high — up near $800 — but for the first 10 years the actual price never exceeded $250. “There are always opportunities to learn. There are always opportunities to improve. Even if you fail at something doesn’t mean you will fail at more things later.” — Cuicui Chen, Ph.D. ’18 “Firms at the time were not taking full account of the decline in the price of subbituminous coal, the kind of coal with very low sulfur content, which they could have observed,” Chen says. “So that was an expectation error.“Initially they got things wrong, but over time they were able to shift their management practices,” she says. “They were able to hire more people from the financial sector and improve their calculations about future market conditions in order to make better decisions on this regulatory program.”Chen says her research underscores the importance of drawing upon accurate beliefs when making market-based decisions.“In many cap-and-trade programs, you see companies not being very market sensitive to begin with … and you would expect them to make a lot of mistakes in the beginning in particular,” she says. “Those miscalculations are very costly to the firms, and in turn, to consumers.”Chen argues that it is up to the government to deploy policy options that set upper and lower limits on permit prices, thereby reducing the volatility of the pricing scheme, and improving predictability. She also argues for better coordination among critical stakeholders like policymakers, electric utilities, and brokers.“I think it is very important to make this information very transparent, to make this scale very transferable across different players,” she says.Chen is transferring her own skills right now: In the fall, she will begin a postdoctoral fellowship at the Belfer Center for Science and International Affairs, where her faculty advisers will be Associate Professor Joseph Aldy, and Henry Lee, senior lecturer in public policy. In spring 2019, she will begin a faculty appointment at the State University of New York (SUNY), Albany.Chen credits her six years at the Kennedy School for giving her insight into her own potential.“In China, I was taught to be in a fixed mindset — in believing that either I’m smart or not,” she says. “But here, I have gone through a transformative period where I discovered that the mindset is not fixed. There are always opportunities to learn. There are always opportunities to improve. Even if you fail at something doesn’t mean you will fail at more things later.”This article was originally published on Harvard Kennedy School’s Student Life webpage in May. It has been lightly edited.
After Tuck Everlasting’s sadly short stint on Broadway, Carolee Carmello is returning to Finding Neverland on the Great White Way. The three-time Tony nominee will take over for Sally Ann Triplett as Madame du Maurier on July 5; the Broadway.com Audience Choice Award-winning musical is set to shutter at the Lunt-Fontanne Theatre on August 21.Carmello earned Tony nominations for her performances in Parade, Lestat and Scandalous.Directed by Diane Paulus and featuring a score by Gary Barlow and Eliot Kennedy and a book by James Graham, Finding Neverland follows the story of J.M. Barrie and his relationship with the family of widow Sylvia Llewelyn Davies. Llewelyn Davies’ children eventually became Barrie’s inspiration to write Peter Pan.The cast currently also includes Tony Yazbeck as J.M. Barrie, Laura Michelle Kelly as Sylvia Llewelyn Davies, Paul Slade Smith as Charles Frohman and Dana Costello as Mary Barrie. Related Shows Finding Neverland Star Files View Comments Show Closed This production ended its run on Aug. 21, 2016 Carolee Carmello Carolee Carmello(Photo: Caitlin McNaney)
Qui Nguyen(Photo: Caitlin McNaney) Qui Nguyen is a playwright, screenwriter, fight choreographer, co-founder of the theater company Vampire Cowboys and self-professed geek. A Los Angeles-based writer for Marvel Studios, Nguyen won a Daytime Emmy Award for his work on the animated pre-school program Peg+Cat and has a slew of accolades and awards for his writing. His works for the stage include She Kills Monsters, Soul Samurai, The Inexplicable Redemption of Agent G., Alice in Slasherland, Fight Girl Battle World, Men of Steel and Living Dead in Denmark. His play Vietgone is currently being produced by Manhattan Theatre Club and will run at City Center through December 4. Nguyen took time out of his busy schedule to hang out with Broadway.com at New Dramatists, which he considers his home away from home.Was there a specific incident that inspired Vietgone?I’ve always wanted to write a play about my parents. It took a while to do it, though. I went to The University of California, Irvine to do some research on Vietnamese refugees. They had these files of pictures from different refugee camps, and I saw one of those files was for Fort Chaffee, where my parents were. I just got obsessed with looking through that file in hopes I would see a picture of them somewhere. I didn’t, but that’s what made me decide to write about it. I was obsessed with that thought: Who were they in 1975 when they were new in America? What percentage of this play really happened?I can’t give you a percentage, but I can tell you most of the events are real. Like how they escaped Vietnam, my dad did have a wife and two kids, my mom had a boyfriend—all those things were real. They don’t speak like 2016 teenagers, and they also don’t rap, so that’s totally fake. It’s my parents love story, which is about two refugees who lost their families and loved ones in Vietnam and how they had to rebuild their lives in a refugee camp in Fort Chaffee, Arkansas in 1975. Which writers have inspired you?What time of day do you get your best work done?The morning. It’s shifted throughout my life. When I was in my 20s, I was a night owl. I wrote from like midnight to five in the morning. Now that I have kids that seems stupid, so I write during the day. I have a day job where I write, so it’s definitely as soon as I get my first cup of coffee in me. I’m good to go from nine to at least one. At that point, I start to edit. My creative brain starts to go away and then my editorial brain starts to show up.What’s the first thing you do when you sit down to write? If it’s a piece that is in progress, I tend to look over what I’ve written already to get the momentum of where I was going to go next. If it’s a brand new piece and I haven’t written anything, then I go to my white board. I actually pull out my dry-erase marker and kernel. I write images and ideas and create graphs; I’m a very visual writer. I like to know the world—who’s related to who—stuff that may not ever show up in the play or the screenplay. I like to have it all mapped out in a nice visual way because then I can look up at that board anytime I get lost. I’m definitely a person who like finds newspaper clippings or pictures and pin them onto my cork board. I look at those and get inspired. I’m a really regimented writer. I outline everything from top to bottom. I do all my beats and stuff like that. I’ve always thought of my plays as Hollywood popcorn movies. If you ever watch one of my plays, you can almost take out a clock and every seven minutes some big theatrical event will happen. Vietgone’s a prime example of it—seven minutes, a musical piece; seven minutes, a kung fu fight; seven minutes, a big movement sequence. I think of those big movie places, and how to get to them. What do you geek out over? I geek out over a lot. I am, after all, a self-professed geek. I’m a big cinephile: I love old flicks. I’m also a big comic book fan. I also just geek out over fellow writers; I love all the writers I’ve become friends with throughout the years through New Dramatist and May-Yi Theater Company.I just love seeing their work, and I’m more inspired by living playwrights than by dead ones. I love seeing what my peers are doing and watching their work. I’ve never felt like I was a theater geek—my wife can tell you all about the history of Broadway and her favorite musicals; I couldn’t tell you any of that stuff, but I can tell you what all our friends are doing and how they’ve evolved and what I can steal and use in my own work and things like that. That’s what I really geek out over, the craft of writing.What play changed your life?What obsesses you as a writer?It feels like the themes have changed throughout the years, I think right now because of the political climate that we’re in, I really want to show the humanity behind people who end up becoming political tropes. The Vietnamese are definitely a political trope—a prop for speeches and things. I always want to find the humanity in that. Right now, it’s Syria and the Middle East. These are people with loves, passions, desires. They’re not just an easy carbon copy picture that politicians want to put out there to win an argument. How does being a fight choreographer inform your work as a writer? I think that’s why I think of my play in set pieces—that’s how it all started. Because I’m such a fan of kung fu movies , and [in them] fights happen every few minutes. You watch kung fu movies to watch people fight and not for the intricate plots. I try to I keep that momentum and excitement—to get the audience pumped up watching my plays and to always have that kind of visceral connection. It also just allowed me to do the fights I’ve always wanted to see on stage. When you’re being hired to do fights for theater, it’s Shakespeare most of the time or very realistic—like the people get slapped or pushed off a couch or something. You rarely get to use crazy Eastern swords and weapons. You don’t just see that in the middle of a Sam Shepard play. What’s the hard work of being a playwright no one ever told you? Time management. I think I was prepped for all the romanticism of being a playwright, including being a starving artist. I was prepped for staying up late, getting rejected,doing readings, grubby bars—all those things. I was excited for all of that. What I was not prepped for was the time management. As my career’s progressed, I’m getting pulled in five different directions and yet I also need to be home because I have a family and kids. To be able to make time for all of those things is the hardest thing for me. I feel like it’s heartbreaking on every level. I want to be here in New York working on my play, but I also want to be in L.A. working on the TV shows or movies I’m working on, and I also just want to be home to play with my kids on the weekend. Since I’m flung all over the place, I never get to dive into any one thing anymore. That’s something I didn’t expect to see in my career, and it’s probably the hardest thing. I’ve missed a lot of birthdays and weddings and funerals because of it. I miss some important events.What’s your best piece of advice for aspiring playwrights?Be you. That’s as short as I can get it: Be you. What’s your favorite line in Vietgone? View Comments
Oil-Rich Nigeria Looks to Renewables to Meet Massive Electricity Needs FacebookTwitterLinkedInEmailPrint分享Reuters:Faced with a population boom that has sent carbon emissions soaring and stretched power supplies to breaking point, oil-rich Nigeria is turning to renewable energy in a big way.Africa’s most populous country needs more than 10 times its current electricity output to guarantee supply for its 198 million people—nearly half of whom have no access at all, according to power minister Babatunde Fashola. Nigeria has set a target of expanding electricity access to 75 percent of the population by 2020 and 90 percent by 2030.It aims to generate 30 percent of its total energy from renewable sources by 2030, Fashola said in a recent speech in London, a major commitment for an economy that depends heavily on fossil fuels. Oil and gas production account for around 35 percent of Nigeria’s gross domestic product and about 90 percent of total exports revenue, according to the Organization of the Petroleum Exporting Countries (OPEC).Over the past year, the country has invested more than $20 billion in solar power projects, seeking to boost the capacity of the national grid and reduce reliance on it by building mini-grids in rural areas without mains electricity. [For example,] a $350 million World Bank loan will be used to build 10,000 solar-powered mini-grids by 2023 in rural areas, bringing power to hospitals, schools and households, said Damilola Ogunbiyi, managing director of the Rural Electrification Agency.The government [also] is investing in hydropower, with several projects close to completion. The largest is the Mambilla Power Station in central Nigeria, a $5.79 billion project due to be completed in 2024 with most of the financing coming from Chinese lenders. It will be able to generate 3,050 MW of renewable energy in the rural region, and is scheduled to be completed in 2024.More: Oil-Rich Nigeria Turns To Renewable Energy As Population Booms
Student loan debt presents a challenge for the millennial generation. Forty million borrowers owe $1.2 trillion in outstanding student loan debt, with an average balance of $29,000, according to Federal Reserve statistics.True to their original mission, credit unions are helping their members meet this challenge through student loan refinancing and consolidation loans. Consolidation loans combine multiple federal and private education loans into one loan with a single monthly payment, typically at a lower overall cost with a variable interest rate.Aspire FCU, Clark, N.J., offers student both in-school student loans and refinance loans through LendKey, a CUNA Strategic Services strategic alliance provider that offers an online lending platform for credit unions and community banks.Thomas O’Shea, Aspire FCU president/CEO, said the credit union has been offering in-school student loans since 2009, and began offering consolidation loans because it was losing the loans when students graduated. continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
Topics : Britain on Monday ordered a three-week lockdown to tackle the spread of coronavirus, shutting “non-essential” shops and services, and banning gatherings of more than two people. “Stay at home,” Prime Minister Boris Johnson said in a televised address to the nation, as he unveiled unprecedented peacetime measures after the country’s death toll climbed to 335.The announcement came after outrage in government that recommendations about reducing social contact to minimize close-contact transmission of the virus were being ignored. Crowds of people were seen enjoying weekend spring sunshine in parks and countryside across the country, prompting calls for tougher action to be imposed. “From this evening [Monday] I must give the British people a very simple instruction — you must stay at home,” Johnson said. “Because the critical thing we must do is stop the disease spreading between households.”Under the new measures, Johnson said going out to shop for basic necessities was still allowed, as was exercise, medical needs, and travel to and from work. ‘War-footing’Britain recorded its first death in the outbreak on March 5 but has been criticized for its light-touch approach to containing the spread compared to more stringent measures elsewhere. Latest figures show Britain now has 6,650 confirmed cases of COVID-19, with warnings the virus is taking hold quicker than in Italy at the same point.Italy has suffered the most coronavirus deaths worldwide, with 6,077 fatalities out of 63,927 declared infections.Johnson had previously resisted mounting public concern that hand-washing was not enough to reduce the impact of COVID-19. As the numbers of cases and deaths climbed, employees were laid off, and sporting and other events cancelled, he moved to try to limit the social and economic fall-out. The Bank of England slashed interest rates to record lows, while finance minister Rishi Sunak unveiled a series of multi-billion-pound packages to help those affected. Notably, the government has stepped in to back up employee wages up to 80 percent, give tax holidays to businesses and boost welfare payments.But Johnson was forced to go further, and put the government on what he said was a war footing, after dire warnings from scientists that its social distancing strategy was not working. The government’s chief scientific adviser has said it was a “reasonable” estimate that 55,000 people now have the virus in Britain. ‘Turn the tide’ The prime minister has promised to “turn the tide” of the outbreak within 12 weeks, urging individuals displaying symptoms to stay at home for seven days. Schools have been closed, as have pubs, bars, nightclubs, theatres, cafes, and leisure centers, and mass gatherings have been banned. Foreign minister Dominic Raab on Monday told British travellers overseas to return home “while you still can”.Last week, the elderly and people with underlying serious health conditions were told to self-isolate for 12 weeks.Meanwhile, continued stockpiling that has stripped supermarket shelves prompted a fresh warning about panic-buying. But shops selling items such as clothes or electronics as well as libraries, playgrounds and places of worship would be shut, with the ban also extending to weddings and baptisms but not funerals.Parks will remain open but Johnson warned: “If you don’t follow the rules the police will have the powers to enforce them, including through fines and dispersing gatherings.” He called the pandemic “the biggest threat this country has faced for decades” and said the already overstretched state-run National Health Service (NHS) would be unable to cope if the pace of transmission continues. “I urge you at this moment of national emergency to stay at home, protect our NHS and save lives,” he said. The restrictions will be “under constant review”, he added. “We will look again in three weeks, and relax them if the evidence shows we are able to,” he said. “But at present there are just no easy options. The way ahead is hard, and it is still true that many lives will sadly be lost.”
Check out that view! Buyers are also snapping up properties before they get a chance to go to auction with several that were scheduled to go under the hammer this weekend selling days before.A Reedy Creek property, known as The Hill House, that was meant to go under the hammer on Sunday sold for $2.5 million last weekend.Ray White Prestige agent Jackson Paradise, who marketed the property with Carita Lanham, said it received multiple offers prior to auction. A Southport property that was due to go under the hammer on Saturday also sold prior for $720,000. Its hillside position is responsible for those epic views.“It is one of the largest single residential allotments in Banora Point perched high on the hill and commanding views that would rival most properties on the southern Gold Coast,” he said. “It’s a cool property – it’s enormous and you just don’t find any other properties like it around here.”The house has four bedrooms, five bathrooms, a study, gym and home cinema. More from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThere is also a tennis court, pool and mango, avocado and citrus trees scattered around the property.The previous suburb record for Banora Point was $2.618 million, which was paid for a mansion at 14-16 Old Ferry Rd.At Reedy Creek, a New Zealand family snapped up a five-bedroom property for $832,000 before its first open inspection.REMAX Regency Gold Coast agent Belinda Walker said the sale of 14 Skyburnett St settled last Friday but she was still fielding calls before it went unconditional. The property at 8-10 Peter St, Banora Point has sold for $2.65 million in a secret sale.HOUSE hunters are out in force and willing to do whatever it takes to snap up their dream home.One buyer wanted a Banora Point property so much they were willing to splash $2.65 million on it, even though it wasn’t on the market.The Peter St house with spectacular views of the river has changed hands in an off-market sale that has smashed the northern NSW suburb’s record by $32,000.Ray White Prestige Gold Coast agent Robert Graham handled the sale of the 6228sq m hillside residence. The sale of 14 Skyburnett St, Reedy Creek settled last week.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:57Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:57 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenAndrew Winter: How to sell in a changing market 00:58She said the couple, who were moving to the Gold Coast with their family, didn’t waste any time, making an offer on day four of her campaign.“He actually had come over for work and she joined him just for a holiday to have a look,” she said.“Even before the first open home it was under contract.”She said they loved the house’s location backing onto bushland. “It’s really nice and private, that’s what they were looking for,” she said. LUXURY BEACHFRONT DISPLAY SET TO IMPRESS NOW, THAT WAS AN EXPENSIVE LUNCH
Taiwanese shipping company Yang Ming Marine Transport Corp. has revealed changes to its service network amid the rising global trade tensions.The company said that the impact from the tensions is expected to cause a relocation and adjustment of cargo flow and supply chains.In order to cope with this trend, Yang Ming plans to strengthen its Asian service network with the launch of a new Intra-Asia service, China-Thailand Service (CTX service).The first sailing is scheduled for July 12, 2019, departing from Shanghai.A total of three container ships with loadable capacity of 1,200 TEU will be deployed for CTX service, of which one is contributed by Yang Ming.The ports of call are Shanghai, Ningbo, Xiamen, Laem Chabang, Bangkok, Laem Chabang, Hong Kong, Shanghai. A round trip will take 21 days.
RelatedPosts COVID-19: NCAA to revoke erring airlines licence over non-compliance FRSC to Schools: We’ll arrest, prosecute drivers who flout COVID-19 rules Sanwo-Olu: We’re committed to fulfilling promises to Lagosians Super Eagles striker, Victor Osimhen, has been quarantined at an isolation centre in Lagos State.Osimhen, who plays for Ligue 1 Lille, arrived from France on Monday alongside Paul Onuachu and two other foreign based Nigerian players whose name could not be confirmed. He came into Nigeria via a chartered flight arranged by his club to attend the burial of his father, Patrick, who died on Saturday.He touched down at the private wing of the Murtala Muhammed International Airport, Lagos at about 4:15pm.Shortly after arrival, Osimhen was moved to one of the isolation centres in the state based on the COVID-19 protocols as put in place by the Nigeria Centre for Disease Control.Any returnee into the country is expected to spend 14 days in isolation, during which tests would be carried out on them.Onuachu and the other two foreign based players are with Osimhen at the isolation centre. Tags: COVID-19Ligue 1Lille FCMurtala Muhammed International AirportNigeria Centre for Disease ControlPaul OnuachuSuper EaglesVictor Osimhen
Brendan Rodgers may have claimed there was an external agenda aimed at ousting him from the club but results are what got him sacked as Liverpool manager. Press Association Press Association Sport understands the search for a replacement will focus on a candidate with a proven pedigree. That immediately strengthens the case of three-time Champions League winner Carlo Ancelotti, who has been successful in Italy, Spain and England, and ex-Borussia Dortmund boss Jurgen Klopp – both of whom were frontrunners even before Rodgers’ sacking was confirmed. There is a feeling within FSG that a new man will get better results and performances with the existing squad of players. Which, read another way, is they did not think Rodgers was maximising the resources he had at his disposal. And there is the crux of the matter. Rodgers spent the best part of £300million in just over three years in charge and while a thrilling Luis Suarez-inspired side came within touching distance of a first title in over two decades in 2013-14, there has been a gradual decline ever since. Not all of it was Rodgers’ fault, with the sale of Suarez to Barcelona obviously a key factor. But when you lose 6-1 at Stoke – as they did on the final day of last season with an expensively-assembled squad – alarm bells start ringing with those signing off the cheques. However, just four wins in his last 14 Premier League matches effectively did for him with FSG needing little persuasion to make a U-turn after sticking by him in June. Rodgers, who met with close ally Ian Ayre, Liverpool’s chief executive, after receiving the phone call from the United States is understood to have taken the decision with dignity – which partly suggests he half-expected what was coming. Just hours after a 1-1 draw in the 225th Merseyside derby Rodgers was informed, via a trans-Atlantic phone call from an unnamed member of the management executive of owners Fenway Sports Group, that his time was up. Despite backing him in the summer with an £80million transfer kitty after a woeful finish to the 2014-15 season the Americans, led by principal owner John W Henry, decided their experiment with a young, progressive manager was over. “Although this has been a difficult decision, we believe it provides us with the best opportunity for success on the pitch,” said a joint statement from Henry, chairman Tom Werner and president Mike Gordon. “Ambition and winning are at the heart of what we want to bring to Liverpool and we believe this change gives us the best opportunity to deliver it. “The search for a new manager is under way and we hope to make an appointment in a decisive and timely manner.” For the last few days there has been speculation Rodgers was a dead man walking and the timing of his sacking – at the start of the international break – is no coincidence. It is believed Liverpool hope to have a new man in place for when the players return from international duty so he is given the best possible chance to get off to a good start away at Tottenham on October 17. A decision is yet to be made on the future of Rodgers’ coaching staff – assistant boss Sean O’Driscoll and coach Gary McAllister, with Pepijn Lijnders promoted from the academy to work on player development – who were only brought in this summer. “We would like to place on record our sincere thanks to Brendan Rodgers for the significant contribution he has made to the club and express our gratitude for his hard work and commitment,” said the joint statement. “All of us have experienced some wonderful moments with Brendan as manager and we are confident he will enjoy a long career in the game.”