Capitalizing on Greenhouse Gas Data

Today's New York Times reports that AWS Convergence Technologies, which operates the WeatherBug network of weather observation stations, will announce today that it is developing an international network of greenhouse gas sensors. This is the first attempt to commercialize the reporting of greenhouse gas data:

The company behind one of the largest networks of weather monitoring stations on the planet — and the purveyor of the ubiquitous WeatherBug application and Web site — is betting that providing greenhouse gas data will also prove to be a lucrative market.

AWS Convergence Technologies of Maryland plans to announce on Wednesday that it is rebranding itself Earth Networks, and that it will be making a capital investment of $25 million over the next five years to deploy a network of 100 greenhouse gas sensors at various sites around the planet — 100 in the United States, 25 in Europe and 25 more at locales yet to be determined.

The network, which will initially monitor concentrations of carbon dioxide and methane — two critical greenhouse gases — will be the first commercial venture of its kind and will substantially increase the density and level of detail of currently available greenhouse gas data.

The network is being developed jointly with Scripps Institution of Oceanography in La Jolla, California:
Scripps takes lead in $25 million climate research project

The press conference announcing the project will be streamed live at 10 am PST today.

Weather Wagering: Reducing Rainfall Risk

For over a century, commodity exchanges have provided a way to hedge against (or speculate on) price fluctuations for crops, livestock, metals, and other materials. More recently, financial products have been developed which allow investment directly in the weather conditions which can in turn affect commodity prices. Last winter, for example, the CME Group introduced options based on the amount of snowfall in 5 U.S. cities. Joining the existing snowfall and temperature products, the exchange last week began offering contracts on rainfall amounts.

The 9 cities involved with the new investments are:

• Chicago O’Hare International Airport (WBAN 94846)
• Dallas-Fort Worth International Airport (WBAN 03927)
• Des Moines International Airport (WBAN 14933)
• Detroit Metro Airport (WBAN 94847)
• Jacksonville International Airport (WBAN 13889)
• Los Angeles Downtown USC Campus (WBAN 93134)
• New York LaGuardia Airport (WBAN 14732)
• Portland International Airport (WBAN 24229)
• Raleigh/Durham International Airport (WBAN 13722)

CNBC this morning interviewed the president of Chicago Weather Brokerage, which specializes in this type of product. Although acknowledging that trading in the new contracts has been negligible, Jeff Hodgson was bullish on potential market opportunities.



More background from Medill Reports of Northwestern University:
A new Chicago brokerage plans to take uncertainty out of the weather

Facebook Friends Carolina Climate; Building Data Center in "Isothermal" Area

An AP story, posted at wsj.com, reports that Facebook has picked North Carolina for its second dedicated data center. The site is located near Forest City in Rutherford County, which is in the western portion of the state near the South Carolina border.

One of the factors cited in the choice of location is "relatively inexpensive power", although the NYT Bits blog notes that "about half of the electricity in Forest City, North Carolina, is coal-generated, in line with the national average." On the other hand, the Prineville, Oregon site of Facebook's first data center has been criticized because the local utility there generates its electricity mainly from coal.

Another factor reported in the AP/WSJ article is the climate, since "extremes of cold and heat are a challenge for facilities with huge amounts of sensitive electronic equipment." Isothermal Community College, in nearby Spindale, was in fact named for the moderate "thermal belt" in the region. Interestingly, the current Weather Underground forecast for Rutherfordton, the county seat, shows a variation of only 5° in the high temperatures for the next 5 days. However, the daily record highs and lows for Rutherford County-Marchman Airport (KFQD) show maximums over 100° in August and minimums below 10° in January.

A more likely explanation for picking this location is the business climate, in the form of considerable tax breaks and government incentives. The NYT's Bits reports that "Facebook will receive approximately $17 million in local subsidies and tax breaks over 10 years" and "will also be exempt from paying state taxes on all equipment, electricity and construction materials for the data centers."

More from Information Week:
Facebook 'Friends' North Carolina With Data Center

Image (click to enlarge): Campus sign from Isothermal Community College; Daily record high and low temperatures at Rutherfordton, NC from Weather Underground

Airlines Get Their Ashes Kicked Venting Volcano Costs Continue Climbing

Leading airline analyst Helane Becker estimates the airlines' total loss so far from the Iceland volcanic ash cloud is $1.5 billion, including cargo business losses:



CNBC reporter Phil LeBeau and airline analyst Robert McAddo also examine the issue:

Annals of Hype-ocracy

Here, without comment, is a self-described rant from the dcrtv blog:

What's your definition of "cruel reality"? Maybe getting cancer or losing your legs in a car wreck? But does that term apply to a few days of rain and showers? According to weather forecaster Jason Samenow at the Washington Post's Capital Weather Gang it does. You know, I get tired of weather over-hype. Why do a few springtime showers have to been verbalized as something terribly negative? OK, sure, no one wants it to rain on their wedding day, but a few raindrops on a workday Monday is certainly not something that's even remotely close to being "cruel." Especially not to the plants that can use the moisture. Come on!

Washington Weathercaster Churn Continues

As noted earlier, the Washington weathercaster revolving door has recently brought Justin Drabick to WRC, Channel 4, as a weekend substitute. Following the appearance of Devon Lucie at WUSA, Channel 9 late last year, Lynnette Charles has been spotted on the station doing the midday report today as a substitute for Howard Bernstein. Charles has formerly appeared on WDEF, Channel 12, in Chattanooga. She is currently listed as a morning meteorologist at WPMT, Fox 43, in York, PA. A bit of moonlighting, perhaps? A report at dcrtv indicates that Charles and Emily Gracey, who previously appeared on WMAR, Channel 2, in Baltimore, have been hired as freelancers while Howard Bernstein recovers from successful back surgery. Bernstein is reported to be aiming for a return to the air next week.

Speaking of WUSA-TV, an anonymous poster to the mailbag at dcrtv reports:

WUSA-TV 9NewsNow lied to us. It sneaked in a pre-recorded weather segment with Topper Shutt during the late newscast that followed Friday's NCAA basketball games. What an insult to viewers and ripoff to advertisers. The recorded forecast aired about 12:38am Saturday. The failed atttempt at a seamless transition from the news anchors was awkward and there were no current weather conditions presented. WUSA's obvious effort to hide its little secret shows very poor management judgment and only serves to hurt its image as a trusted source, if it had one. Topper never should have agreed to record a forecast for broadcast and anchors/producers should have objected to being part of it. I hope sponsors that probably never counted on taped weather when they paid big bucks for their ad time raise hell with their account execs on behalf of viewers. If Gannett/WUSA-TV can't afford to pay a live weather talent it should be honest with their customers and audience . A live news anchor should have presented the weather segment instead of attempting this lame deception. Could you blame advertisers and viewers for running to the competition now?

Washington Weathercaster Revolving Door Continues to Spin

The churn in the local broadcasting market fed by falling revenues has brought another new face to Washington weathercasting. Following the recent departure of veteran meteorologist Bob Ryan, the 11 pm report on WRC-TV, Channel 4, last night was delivered by Justin Drabick. Drabick's presentation showed a familiarity with local geography undoubtedly acquired during an early career spent on Maryland's Eastern Shore.

After graduation in 2004 from Millersville University, he spent 5 years at WMDT, Channel 47, the ABC affiliate in Salisbury. In December, he moved to WBOC, the Salisbury CBS/Fox affiliate broadcasting on channels 16 and 21. Drabick holds a Certified Broadcast Meteorologist seal from the American Meteorological Society.

Image: Justin Drabick from Flickr

Justin Drabick's first broadcast on WBOC-TV from YouTube:

Retail Details: Don't Blame the Weather!

Despite snowstorms hammering the Mid Atlantic, Northeast, and even parts of the South in February, retail sales figures announced today were much better than expected, up 0.3% (0.8% excluding autos):



From the high-fiber media:

• Associated Press: Retail sales rise unexpectedly in February
• Financial Times: US retail sales show surprise rise
• Business Week: Retail Sales in U.S. Unexpectedly Rose in February
• Wall St. Journal: Retail Sales Post Strong Gain
• WaPo: MIA

Bob Ryan Leaves WRC Channel 4

See Mediarology for the latest developments.

Feb. 27 Update: Video of Bob Ryan's goodbye broadcast from YouTube:



Midnight Friday Update: Bob Ryan made an emotional "final weekend forecast" and farewell to his audience and colleagues Jim Vance and Doreen Gentzler around 12:20 Saturday morning at the end of the Olympics-delayed local news broadcast.

Although he made no mention of future plans, dcrtv.com reported on Thursday that Ryan's speculated move to Channel 7 (WJLA) may be delayed by a contract non-compete clause. Such restrictions can potentially run as long as 6 months.

Original post:
The dcrtv blog reports that veteran weatherman Bob Ryan will be leaving NBC affiliate WRC-TV (Channel 4) on Friday after 31 years at the station. Ryan's departure, announced as a retirement, leaves open the possibility of his joining forces with long-time weatherman Doug Hill at ABC's WJLA, Channel 7, although no deal has been announced. Ryan, the dean of Washington TV meteorologists, has always been a class act since the Climate Capitalist first viewed his weathercast on WCVB-TV shortly after Ryan began his career in Boston.

Here is Ryan's bio from the undoubtedly soon-to-be defunct web page of NBC-4:

Bob Ryan has been News4’s Chief Meteorologist since 1980 making him the longest-serving weathercaster in Washington. His weather reports air weekdays on News4 at 5, 6 and 11 and on NBCWashington.com. And, listeners to NPR affiliate WAMU-FM can hear Ryan’s forecasts afternoons during All Things Considered.

Ryan’s career began in Cambridge, Mass. where he was involved in cloud physics research with Arthur D. Little, Inc. A side job as a broadcast meteorologist turned into a fulltime job as principal meteorologist for Boston’s WCVB-TV. In 1978, Ryan became the first meteorologist to regularly appear on NBC’s Today show.

As Chief Meteorologist, Ryan has initiated and supported many unique programs at NBC4. For 25 years, his annual Almanac provided weather and environmental information while raising more than $500,000 for local children’s charities. He also created the 4WINDS (Weather Interactive Demonstration Schoolnet) Network that placed more than 400 interactive weather stations in area schools. In 2006, that system was upgraded and expanded to become Weather Plus Neighborhood Network. Hundreds of thousands of kids who grow up in the Washington area enjoy a hands-on introduction to meteorology from these systems.

Ryan was also co-investigator for a project that brought NASA and NBC4 together to lead one of the first television weather sites on the Internet, WeatherNet4. Today, NBC4’s strong web weather presence takes the shape of weatherplus.com, a website and a cable channel which provides round-the-clock forecasts and weather information.
Ryan is also actively involved professionally in his science. In 1996, he was elected president of the American Meteorological Society; he is the only broadcaster to have led this prestigious organization. Ryan has also served the AMS as Chair of the Committee of Broadcast Meteorology, Commissioner of Professional Affairs and member of the Council of the Society. He has also served on the Board of Atmospheric Sciences and Climate for the National Academy of Science two committees of the National Research Council, and the Advisory Committee of the Geoscience Directorate of the National Science Foundation. Ryan’s expertise has been called upon repeatedly to testify before various committees of Congress

During his career, Ryan has received numerous awards, including regional Emmys for Weathercasting and the Ted Yates Emmy for outstanding service to the community. His alma mater, the University of Albany, presented him with a "Distinguished Alumni" award, and the AMS gave him The Charles Franklin Brooks Award for his outstanding service.

Despite these awards and his distinguished career, Ryan is proudest of his role as husband and father. He and his family reside in Northern Virginia.

From dcrtv's mailbag, here is a copy of the email distributed this afternoon at WRC:

Bob Ryan has been an important fixture in our newsroom for 31 years. He has covered everything from tornadoes to hurricanes and of course the occasional blizzard. Millions of area residents have come to depend on his forecast. After much discussion with him, Bob has decided it is time for a change. So Friday will be his last day at NBC4. We can't thank him enough for his dedication and passion. He will certainly be missed. Bob asked me to share the following note with you: "Even for a snow loving meteorologist this has been some winter. And for this snow loving and every other kind of weather loving meteorologist this has been some ride. It’s also been more fun than one person should have over 30 years in the same job with some of the same friends and colleagues for 20-30 years. But this winter’s snows are now pausing and so will I. Yogi Berra said, 'When you come to a fork in the road take it.' I’m going to take that great philosopher’s advice. This fork leads to more time with my wonderful wife Olga, who has had to deal with more storm related power outages and unshoveled walks alone than any spouse should ever have to put up with. I have had the wonderful fortune to work for and with many of the most dedicated people I know, who care deeply about what we do and why we do it. I may not have the opportunity after Friday to sit next to Doreen, Vance, Wendy, Jim or have the fun of interacting with my long time colleagues Tom, Veronica and Chuck and so many of you. But I will always have great affection for everyone here and you will be in my thoughts as you have been part of my professional life. If anyone asks, tell them let’s meet upstairs at Guapo’s when the snow melts, after this winter we all need a beverage and I know I still owe Collins another Jameson"

Movie Weather

The Weather Channel announced yesterday that it will start a Friday night movie series, adding full-length motion pictures to its programming:

For the first time in its 27-year history, The Weather Channel® (TWC) will add movies to its programming schedule with "The Weather Channel Presents..." This new movie series launches Friday, October 30, with the TWC premiere of The Perfect Storm, starring George Clooney, which coincides with the anniversary of the ferocious "perfect storm" of 1991, on which the movie was based.

Following The Perfect Storm on Oct. 30, TWC will air feature films every Friday night in November. Weather plays a central role to the story, plot or overall theme in each of the movies selected.

Local weather will be displayed during the movies in the lower portion of the screen.

The scheduled movies include:

• The Perfect Storm - Premieres Friday, Oct. 30
• March of the Penguins - Premieres Friday, Nov. 6
• Misery - Premieres Friday, Nov. 13
• Deep Blue Sea - Premieres Friday, Nov. 20

Tomorrow's NYT Arts section tomorrow briefly asks why "Twister" is not on the schedule, but apparently negotiations for the rights to display it are underway.

If they're really serious about this, they need to add "Groundhog Day" as well.

"Perfect Storm" cover image from Amazon.com

Economic Destruction for Fun and Profit

"Promoting alternative energy will destroy the economy."

Don't try telling that to investors on Wall Street, who have sharply bid up the price of a lithium-ion battery company's initial offering today. Shares of A123 Systems (symbol AONE) are up over 50% from this morning's offering price of $13.50, which had been raised from earlier estimates of around $8. After a delayed opening, the shares began trading at $17 and reached a high of $21.14 before retreating slightly to $20.29 at 4 pm. Volume was over 41 million shares.

The company, "one of the world's leading suppliers of high-power lithium ion batteries", has contracts to supply batteries for hybrid and electric cars to 7 auto manufacturers worldwide, including Chrysler, GM, and Nissan.

The A123 CEO Dave Vieau was interviewed this morning on CNBC:


From the press:

• AP, A123 Systems goes public with a splash
• MarketWatch, A123 Systems jolts IPO market
• WSJ, Traders Give A123 Systems IPO a Charge
• TheStreet.com, A123 Systems Soars on IPO, but Why?
• Bloomberg, A123 Surges in First Day on Electric-Vehicle Demand
• BoGlo, Shares in A123 IPO hit $20.09 in afternoon trading
• WaPo, MIA
  

Image (click to enlarge): September 24 stock chart for A123, from MarketWatch, via Fidelity Investments

Disclaimer: CapitalClimate unfortunately does NOT own shares in A123.

John Coleman: Even the Examiner Says He's Over the Top on Global Warming

John Coleman continues to trade on his role in founding the Weather Channel to bash global warming. Even the heavily listing-to-starboard (that's the right side, for you landlubbers) Examiner thinks he's gone over the top, however. Here's a comment from their Cleveland branch:

Coleman paints such an elaborate, conspiracy-soaked portrait of climate change that it reads like a leftover subplot from The X-Files. He’s becoming less authoritative and more rhetorical. By calling global warming "the greatest scam in history," he opens himself up to criticism that his article offers no defense against. Coleman comes across as a man who’s so desperate to keep his hat in the ring that he’s taken criticism to an almost absurd level.

CapitalClimate's comment over at the Rabett hutch:

Coleman has been an active resident of the deniosphere for quite some time. He's probably still ticked off that he had to slink away with 2 Hamiltons ($20 US for those across the pond) from what turned out to eventually fetch 5 Super-Large.

This seems to be a common affliction of TV weather guys, including his former Weather Channel buddy D'Aleo at the cold weather blog IceCrap, where the forecast is always numb and number.

For another example, see this gibberish at Revkin's place. (WMAR is a TV station in Baltimore.) You should have seen what this clown wrote before he discovered spell check.

When I tried to engage in conversation about global warming with a Rochester, NY, TV guy at a local weather conference a few years ago, he started babbling about George Soros and refused to speak to me for the rest of the day.

There are a few notable exceptions, but scientific competency frequently seems to be inconsistent with the ability to appear pretty on the toob.

Trimming the Hedges: Natural Gas Down Sharply

Natural gas is down nearly 40% from its peak. Is now the time to buy ahead of the winter's heating bills? CNBC interviews a commodities investor today.

Image: U.S. Natural Gas Fund price over the last year, from BigCharts.com, via Fidelity Investments

Edouard Continues Westward Oil Prices Not Impacted

Update: At 4 pm Central, Edouard is becoming better organized, but maximum winds are still at 45 mph. The current westerly track at 7 mph is expected to turn more to the west northwest tonight. The storm is forecast to be near hurricane force by landfall in the middle of the day on Tuesday.

As of 1 pm Central, the outer rainbands of Edouard were reaching the Louisiana coast. The Tropical Storm Warning and Hurricane Watch remain in effect. Maximum winds continue at 45 mph.

Meanwhile, despite financial media assumptions to the contrary, Edouard's expected path through the oil rig region of the Gulf has NOT had a positive effect on oil prices. In fact, shortly before noon, prices had dropped as much as $5 to briefly under $120 a barrel in New York commodity trading. Natural gas prices also plunged sharply, as much as 7%. Shipping and some drilling and refining activities were reported affected, however.

Image from NBC WeatherPlus

Capital Corner: Green Auto Loan

Update: Corrected link to Veridian CU.

Your new car can be red, white, blue, black, or any other color, but if it is rated at 30 mpg or higher (combined city and highway), MCT Federal Credit Union will give you a ¼% discount on the loan rate. Rates are as low as 3.99% for 36-month terms or less. Eligibility for membership in MCT includes teachers and students of public and private schools in Montgomery County, MD, as well as their families. Employees of over 100 companies and organizations in Montgomery County are also eligible.

Elsewhere around the Beltway, a green discount is also being offered by NIH Federal Credit Union. Their discount is ½% for vehicles getting city mpg of 25 or better.

A search reveals that similar programs are being offered by other credit unions around the country. Among them are:

• Stanford FCU
  
• Sound CU (Tacoma, WA)
  
• Columbia CU (Portland, OR)
  
• Veridian CU (Iowa)
  
• Envision CU (Florida)

Storm Chasing: Follow the Money

CNBC's Street Signs program this afternoon featured an interview with Stockpickr.com's James Altucher. He examined the performance of a wide range of stocks (S&P 1500) following the seven most costly hurricanes. He found the stocks of 50 companies which were up in all seven cases, but he recommends four of those in particular:

• Hill-Rom (HRC): hospital beds!
  
• Campbell Soup (CPB): non-perishable foods
  
• Toro (TTC): landscaping equipment
  
• Nucor (NUE): steel

As usual, invest at your own risk.

"NBC Storms Weather Channel"

As widely reported in the press this morning, NBC Universal is acquiring The Weather Channel in a joint venture with two private equity firms:

• NYTi: Weather Channel Is Sold to NBC and Equity Firms
  
• Business Week: NBC Universal Clinches Deal to Buy Weather Channel
  
• WSJ: NBC-Led Group Will Buy The Weather Channel
  
• Variety: NBC storms Weather Channel
  
• Hollywood Reporter: Weather deal brightens NBC forecast
  
• Bloomberg: NBC Universal, Bain, Blackstone Buy Weather Channel
  
• Forbes: Weather Channel Under NBCU's Umbrella
  
• Atlanta Journal-Constitution: NBC buying Weather Channel
  
• TheStreet.com: NBC Universal to Buy Weather Channel
  
• BBC: NBC agrees Weather Channel deal
  
• WaPo: Weather Channel Sold to NBCU

The reported price of $3.5 billion is considerably less than originally suggested. Jeff Zucker, president of NBC Universal, appeared in a 15-minute segment of CNBC's Squawk Box this morning to discuss the deal. CNBC's Media Money honey comments on the deal in her blog, with video: NBC And Why It's Paying $3.5 Billion For The Weather Channel.

For the snarky view, see Gawker, including a link to Chris Farley as El Niño:

Energy Watch: Trimming the Hedges

Here's where we put the "capital" in CapitalClimate. Energy prices have been soaring well enough on their own lately (past $140 a barrel for oil), but what if tropical storm disruptions or an exceptionally cold winter put more upward pressure on prices? Despite all the complaining over heat and humidity around this time of year in the Nation's Capital region, the typical household in the area spends more on heating than cooling. The Big Boys can hedge by trading in the futures markets, but the prices there are heavily influenced by speculation.

Money Magazine's Jason Zweig, appearing recently on the Nightly Business Report, suggested a strategy that could be practical for the individual homeowner. His plan works like this: Take an amount roughly equal to your total seasonal heating bill and use it to buy shares in an exchange-traded fund (ETF) which is based on the cost of your heating fuel. (An ETF is like a mutual fund, but instead of being priced once a day at the close of the market, shares are traded continuously on a stock exchange.)

For natural gas, Zweig recommends the United States Natural Gas Fund (ticker symbol UNG), which began trading in 2007. A more recent market entrant is the U.S. Heating Oil Fund (UHN), which was launched a few months ago. Also launched recently is another hedge against growing household energy costs, the U.S. Gasoline Fund (UGA).

Expenses involved in this strategy include management fees of about 0.6-0.8% and commissions to buy and sell (now around $10 or less per transaction at many discount brokers). In the event of a gain, profits are subject to taxes at ordinary income rates for shares held less than a year and capital gains rates of 15% or less for longer holding periods. If the value goes down, you can use the money saved on your heating bill to hedge against future price increases. If you sell the shares at a loss, then the loss amount can offset gains from other investments or be deducted from other income up to $3000.

Image: 3-month chart of UNG from BigCharts.com, via Fidelity Investments. Click to enlarge.

Mediarology: Got $5 Billion?

Apply directly to the forehead!

Raid the piggy bank, weather fans. Today's WaPo has a front-page business section article discussing the previously-announced potential sale of The Weather Channel. Landmark Communications, current owner of TWC, was founded as a newspaper company over 100 years ago in the Norfolk area, so the potential restructuring is viewed in terms of the decline of the printed word as a vehicle for news distribution. Landmark still owns the Annapolis Capital among its newspaper holdings.

TWC, one of the last privately held cable channels, is based in Atlanta and reaches about 97% of cable and satellite households in the U.S. The web site, weather.com, is in the top 20 sites by traffic, with 30 million unique visitors and $130 million in annual revenue. That's a lot of Head-On ads!

Potential buyers include Time Warner, Silver Spring-based Discovery Communications, News Corp., and NBC Universal. Industry estimates for the value of the cable and web properties are as high as $5 billion.

In hindsight, TWC's success appears forehead-slappingly obvious, but the early history of the channel was marked by a series of financial crises as the fledgling operation tried to find a market. The meteorologist with the original idea, John Coleman, walked away with $20 for his original 20 shares of Class A stock and turned over control to Landmark after being unable to raise $1 million to exercise an option and save the company from bankruptcy.

Wintry Wind Whips Washington Some Slight Snow Seen Soon?

*Wind Advisory* in effect through 1am tonight. Significant risk of power outages.

Now

Variable clouds, windy, cold. Gusty northwesterly winds following a strong cold frontal passage have knocked the temperatures down at least 10° this afternoon from a morning high of 53°. That makes the 43° at 5pm the low for the day so far. The humidity drop is even more dramatic, with dewpoints crashing from the mid 40s this morning to the upper teens now. Peak wind gusts reported include (in mph): BWI 47, Camp Springs 49, National 47, and Ft. Belvoir 51. Radio reports indicated that local utilities had experienced several thousand power outages by early this afternoon.

Strong winds will continue into tonight as the colder air sets the stage for a "clipper" system racing southeastward toward the region with some light snow possible for Wednesday.

Tonight and Tomorrow

Windy, colder. Gusty winds will continue through this evening, but will diminish somewhat by morning. Lows will be generally 28-34°. Mainly clear skies and northwesterly breezes tomorrow morning will give way to increasing clouds late in the day with highs 41-45°.

For the outlook through the rest of the week, including the revived Snow Lover's Crystal Ball, scroll on down to Jason's post below.

Trivia Notes

• December 1 is the latest date in the season on which 1" or more of snow has never fallen in Washington, so Saturday's infinitesimal trace of frozen precipitation tied the record for the date.
• Today's record of 1" is the second lowest for the month of December.
• Today's sub-headline is a former Googlenope.

Making Hay While the Sun Shines

Want to pick winning investments? Studies have found that stock markets around the world tend to go up more on sunny days than cloudy ones.

Political Science

A local newspaper has an op-ed piece today, "A New Green Economics", by UN Secretary-General Ban Ki-moon, in connection with the opening of the international climate conference today in Bali.

As those negotiations get underway for a follow-on to the Kyoto climate agreement, the NYTi's Dot Earth blog notes that the newly-elected Prime Minister of Australia, as his first official act, has signed the Kyoto Protocol. Blog author Andrew Revkin notes that "leaves the United States and Liechstenstein as the only industrialized countries not bound by the pioneering, but troubled, pact . . ."