Can natural gas ignite the economy?

New technology is unlocking vast amounts of natural gas in the United States, enough to have a huge economic impact.  Yes, it involves “fracking,” the controversial practice of pumping chemical-laced water into shale deposits, but improvements in that technique are starting to satisfy all but the most zealous environmentalists.  I’m glad to see companies from my native Oklahoma are leading the way.  Businessweek has a big story on the topic with the deck below the headline, “Unlocking vast reserves of shale gas could solve the energy crisis, the jobs crisis, and the deficit.”

“The United States,” [energy company CEO Aubrey] McClendon boasts, “has the capacity to become the Saudi Arabia of natural gas.”

A tall man who wears his wavy silver hair long by CEO standards, McClendon, 52, exudes the confidence of someone who’s certain he’s seen the future. Exploitation of newly accessible supplies of gas embedded in layers of what’s known as shale rock, he predicts, will help revive domestic manufacturing and change the terms of debate about global warming. “It’s a new industrial renaissance,” he says. . . .

Encouraged by the availability of inexpensive and cleaner domestic gas, some electric utilities are replacing their coal-burning capacity with gas-fired units. Energy-intensive manufacturers of chemicals, plastics, and steel are beginning to bring home operations that they exported years ago. “We believe natural gas must be part of any discussion on strengthening our country’s long-term economic health,” Mulva said in Detroit. “It should also be part of any discussion on improving energy security, protecting the environment, and, yes, creating jobs.”

On the economic potential of the nascent shale revolution, even some career environmentalists sound impressed, if cautious. “This thing is a potential game-changer,” says Fred Krupp, president of the New York-based Environmental Defense Fund (EDF). Shale production in the U.S. has increased from practically nothing in 2000 to more than 13 billion cubic feet per day, or about 30 percent of the country’s natural gas supply. That proportion is heading toward 50 percent in coming years. The U.S. passed Russia in 2009 to become the world’s largest producer of natural gas. An Energy Dept. advisory panel on which Krupp sits estimated in August that more than 200,000 jobs, both direct and indirect, “have been created over the last several years by the development of domestic production of shale gas.” At a moment of 9.1 percent unemployment nationally, additional decently paid work is just one potential benefit. “Natural gas burns cleaner than coal, emits less in the way of greenhouse gases, and avoids mercury and other pollutants from coal,” Krupp points out. “So this could be win-win, if—and this is a big ‘if’—we do it the right way.”

via Could Shale Gas Reignite the U.S. Economy? – Businessweek.

Jesus + Nothing = Everything

I’ve had some posts about Tullian Tchividjian, Billy Graham’s grandson and the successor to D. James Kennedy at Coral Ridge Presbyterian Church.  He is a significant evangelical pastor who credits Lutherans (e.g., Bo Giertz; Harold Senkbeil; Rod Rosenbladt) for helping him to understand the full magnitude of the Gospel.  He has written a book about all of this–including how it impacted him as he went through some difficult times in his ministry–entitled  Jesus + Nothing = Everything.

I was asked to write a blurb for it, as were many others, including other evangelicals who resonate with what he has written.  They are all worth reading in themselves.  (Read them on the Amazon site that this post links to.)  I will just quote myself and Dr. Rosenbladt, whose work I also blogged about recently:

“Many Christians today assume that the gospel just has to do with conversion, for way back when they first came to faith. They have lost the sense, well known to Christians of the past, that the gospel is for every moment of their lives. As a result, they often fall into a moralism that can be, as this book shows, just as idolatrous, self-focused, and godless as immorality. This book shows how the good news of free forgiveness in the cross of Jesus Christ is the driving energy that makes the Christian life possible. Pastor Tchividjian tells about how he himself discovered the full magnitude of God’s grace in the midst of difficult times in his own ministry. He does so in a way that will bring relief, exhilaration, and freedom to struggling Christians.”
Gene Edward Veith Jr., provost, professor of Literature, Patrick Henry College; director, Cranach Institute, Concordia Theological Seminary; columnist; author

“In a powerful, concise, and popular style, Tchividjian announces, explicates, defends, and contrasts the gratuitous gospel of Christ’s person and work with the oft-misheld conviction of us sinners that, if we are somehow to be justified, it will have to be a matter of ‘making up for’ our offenses and of inward improvement. Chapter-by-chapter he argues that God’s saving plan is one of grace and not one of improvement. Filled with illustrations from his life as a pastor, this is no unapproachable, academic tome. But neither, thank God, is it today’s ‘Evangelical silly!’ Tchividjian wrestles openly with demons and their central lie in order that we truly ‘get’ what the Bible is really about. From every point on the compass, he contrasts ‘moral renovation’ with a free, one-sided rescue drenched in the blood of Jesus. Good news for everyone—but especially for Christians who are worn out by trying the other way, believing the lie, somehow knowing renovation isn’t working but knowing nowhere else to turn. Tchividjian is out to convince his reader that justification before God really is pure gift, is free, is by grace and through faith in Christ. . . sola!”
Rod Rosenbladt, professor of theology, Concordia University

via Amazon.com: Jesus + Nothing = Everything (9781433507786): Tullian Tchividjian: Books.

Personhood amendment voted down

The people of Mississippi rejected a state constitutional amendment that would classify a human embryo as a “person” entitled to all legal protections.  According to the latest count, the margin was 59% to 41%.  This, even though both Republican and Democratic leaders in that conservative state supported the amendment.  See Mississippi anti-abortion ‘personhood’ amendment fails at ballot box – The Washington Post.

Some pro-life activists opposed the tactic of trying to push through a personhood laws, something also being considered in other states, reasoning that while it can be demonstrated scientifically that a fetus is a human being, the notion of “personhood” adds all kinds of philosophical considerations that are likely to be voted down, to the harm of the pro-life cause.

If a personhood amendment can’t be passed in Mississippi–MISSISSIPPI!–then where can it be passed?  And this failure suggests certain inconvenient truths:

(1)  The voting public is not as conservative as conservative activists. Voters are not liberal, exactly, probably more centrist or center-rightists.  But they will vote against anything they consider, rightly or wrongly, “extremist.”  We conservatives, being purists, tend to hunt for the most conservative candidates.  But the most conservative candidates cannot be elected.  (I lament that, but I submit that this is a fact.  As I do so often, I hope I am wrong.)

(2)  Christians and Christian causes these days are not popular in the political arena.  We think people like us, but they don’t.

(3)  These two points are not reason to pull away from political engagement, properly entered into, but they make it harder than certain activists realize that it will be.

Happy (belated) Gustavus Adolphus Day!

November 6 was the commemoration day for one of my heroes, the Swedish king Gustavus Adolphus, the military genius and devout Lutheran who arguably was used by God to save Protestantism from extermination during the Thirty Years’ War.   Sometimes honored as the greatest Lutheran layman, King Gustav makes for an interesting and inspiring example of vocation.

The blog of the LCMS leadership, Mercy, Witness, Life Together, has a great post about him, including an informative sermon by Rev. Eric Andrae:  Feast of Gustavus Adolphus, King and Martyr, 1632.

 

King Gustavus Adolphus

 

HT:  Mary

The commodities bubble

Economics columnist Steven Pearlstein describes how high finance is distorting the commodities market and warns that speculation and “financialization” is blowing up a big bubble:

Silly you.

You actually thought companies existed to make products and profits.

You thought houses were meant to provide a place for people to live and office buildings a place for people to work.

You thought food was meant to be eaten, oil and gas to be turned into energy, and metals to be turned into cars, bridges and downspouts.

You weren’t sophisticated enough to realize that these really are just different “asset classes” meant to give investors around the world something to speculate in and to diversify their portfolios.

Even worse, you actually believed all that stuff about prices being set based on market fundamentals. Little did you know that it’s no longer the supply and demand for companies, houses, office buildings, natural gas or wheat that sets prices. More likely it’s the supply and demand for the futures, swaps and other derivative instruments linked to those things.

Maybe they thought we wouldn’t notice that the financialization of the economy brought with it higher prices and a more volatile economy, along with higher profits for the financial services industry.

The latest example is the market for commodities: corn, wheat, cotton, silver, copper, oil, natural gas. In the past decade, hundreds of billions of dollars have flooded into the market, largely through swaps contracts and commodities index funds, ETFs and mutual funds.

These markets have long since outgrown their original function of providing producers and consumers of these commodities with a way to hedge their risks by guaranteeing supply and locking in prices. All futures markets require a certain number of “speculators” to take the other side of the contracts from commercial users and producers. Typically, these speculators would represent 30 percent of the participants in a healthy futures market.

But today, because of a sudden desire to earn higher returns and diversify investment portfolios, there are more people wanting to invest in corn and copper and oil than there is corn and copper and natural gas produced and consumed. But no problem. The financial wizards on Wall Street have magically conjured up synthetic corn and copper and West Texas oil so that speculators can provide hedging opportunities for other speculators. Instead of 30 percent of the market, these “passive investors” typically account for 70 percent or more. . . .

What’s clear from this tale is how little the financial services industry has really changed since the crisis of 2008. The financialization of the economy continues undeterred, creating a bubble in commodities just as it did with houses and office buildings.

via Steven Pearlstein: You bet it’s another bubble – The Washington Post.

Does this kind of speculation serve an economic purpose?  Is it just an example of free market economics?  Or does it actually distort and thwart the free market?

Theologians of the Cross

Another non-Lutheran discovers a Lutheran insight.  Carl Trueman, professor at Westminster Seminary in Philadelphia, posts about theologians of the cross as opposed to theologians of glory.  He explains it pretty well, I think:

One of the things that is so striking about the current revival of interest in Reformation theology, broadly conceived, is the absence of perhaps the most glorious contribution of Martin Luther to theological discourse: the notion of the theologian of the cross. . . .

At the heart of this new theology was the notion that God reveals himself under his opposite; or, to express this another way, God achieves his intended purposes by doing the exact opposite of that which humans might expect. The supreme example of this is the cross itself: God triumphs over sin and evil by allowing sin and evil to triumph (apparently) over him. His real strength is demonstrated through apparent weakness. This was the way a theologian of the cross thought about God.

The opposite to this was the theologian of glory. In simple terms, the theologian of glory assumed that there was basic continuity between the way the world is and the way God is: if strength is demonstrated through raw power on earth, then God’s strength must be the same, only extended to infinity. To such a theologian, the cross is simply foolishness, a piece of nonsense.

Now, some will respond: But the theology of the cross has not been forgotten; it is often talked about and discussed and even preached. But here’s the rub: in the Heidelberg Disputation Luther actually refers not to a theology of the cross but to theologians of the cross, underscoring the idea that he is not talking about some abstract theological technique or process but rather a personal, existential, real way that real flesh-and-blood theologians thought about, and related to, God. A person’s theology, whether true or false, good or bad, is inseparable from the individual’s personal faith.

At this Reformation season, we should not reduce the insights of Luther simply to justification by grace through faith. In fact, this insight is itself inseparable from the notion of that of the theologians of the cross. Sad to say, it is often hard to discern where these theologians of the cross are to be found. Yes, many talk about the cross, but the cultural norms of many churches seem no different to the cultural norms of — well, the culture. They often indicate an attitude to power and influence that sees these things as directly related to size, market share, consumerist packaging, aesthetics, youth culture, media appearances, swagger and the all-round noise and pyrotechnics we associate with modern cinema rather than New Testament Christianity. These are surely more akin to what Luther would have regarded as symptomatic of the presence and influence of theologians of glory rather than the cross. An abstract theology of the cross can quite easily be packaged and marketed by a theologian of glory. And this is not to point the finger at `them’: in fact, if we are honest, most if not all of us feel the attraction of being theologians of glory. Not surprising, given that being a theologian of glory is the default position for fallen human nature.

The way to move from being a theologian of glory to a theologian of the cross is not an easy one, not simply a question of mastering techniques, reading books or learning a new vocabulary. It is repentance.

via The Forgotten Insight – Reformation21 Blog.

What are some other applications?  If there is no “basic continuity between the way the world is and the way God is,” what happens to natural law?  natural theology?  How would this factor into various theological controversies today?

HT:  Joe Carter


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