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Boullier targets title tilt in three years

Renault team principal Eric Boullier is targeting race victories in the next three years and fourth place in the championship next season




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Bahar defends Renault approach

Dany Bahar, chief executive of the Lotus Group, has defended Renault's approach to its drivers after Kimi Raikkonen hurt his wrist in a skidoo accident




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'The order could be shaken up in 2012' - Raikkonen

Kimi Raikkonen is confident he has lost none of his speed since he last raced in Formula One in 2009 and reckons there could be a few surprises when he makes his return next year




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Jarno Trulli slams 'less committed' pay drivers

Jarno Trulli has hit out at the growing influence of so-called 'pay drivers' in Formula One, accusing them of being 'less committed'




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Renault to decide on 2014 customer teams in September

Renault has set a September deadline in deciding how many customer teams the engine manufacturer will supply from 2014 onwards




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Renault open to team ownership return

Renault says it is open to the idea of taking over an existing team on the grid, though no firm decisions have been made over its future in Formula One




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Massa eyes big points haul

Felipe Massa hopes that Ferrari's run of bad luck will come to an end at the German Grand Prix after he qualified third on the grid behind team-mate Fernando Alonso




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FIA declares Red Bull and Ferrari front wings legal

The FIA's Jo Bauer on Sunday eased a burgeoning controversy about flexible front wings




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China After Coronavirus – Should We Ever Trust Beijing Again?

The coronavirus has exposed even deeper fault lines in the increasingly acrimonious U.S.-China relationship. The U.S. is now taking appropriate measures to mitigate the risk to our national security of relying on China for critical technology, precious metals and medical supplies.




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Green Ambitions, Brown Realities: Making Sense of Renewable Investment Strategies in the Gulf

Gulf countries have hailed their investments in renewable energy, but some basic questions remain about the extent to which it makes sense for GCC states to invest aggressively in renewables. The sheer magnitude of such investments will require these countries to mobilize significant public resources.  Therefore, such an assessment requires these countries to focus on national interests, not just a desire to be perceived as constructive participants in the global transition away from carbon energy. 

This report starts by identifying four common strategic justifications for investing in renewable energy in GCC countries. Each of these rationales highlights a different aspect of renewable energy investments. In addition, each rationale is based on different assumptions about the underlying drivers of such investments, and each rationale is based on different assumptions about the future of energy. 
 




ul

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




ul

Low Prices, Full Storage Tanks: What's Next for the Oil Industry

When the economy slows, so does the demand for oil. Prices have plummeted and storage tanks are filled to capacity. We look at the future of the oil industry.




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Designing Thoughtful Minimum Wage Policy at the State and Local Levels


Rising wage inequality and stagnant real wages have contributed to inequality in family incomes during the past three decades. While the expansion of the Earned Income Tax Credit (EITC) and the Supplemental Nutrition Assistance Program (SNAP) have helped mitigate the impact on low-income families (Bitler and Hoynes 2010), federal minimum wage policy has not contributed to the solution. The federal minimum wage has failed to keep pace with both the cost of living and the median wage in the labor market. As a consequence, working full-time at the minimum wage does not allow many families to escape poverty, or to attain economic self-sufficiency.

State and local governments can set minimum wages in excess of the statutory federal minimum wage. Indeed, state and local governments have played an important role in establishing minimum wages across the country; as a result, thirty-seven states had state minimum wages exceeding the federal level in 2007 prior to the most recent federal increase. Cities, too, have begun setting higher minimum wages, as evidenced by city-level wage minimums in Albuquerque, San Francisco, San Jose, Santa Fe, Seattle, and Washington, DC; other cities are actively exploring possibilities of raising minimum wages. 

In this policy memo, I propose a framework for effective state and local minimum wage policy. First, I propose using half the local-area median wage as an important gauge for setting an appropriate level of the minimum wage. Second, I propose that state and local governments take into account the local cost of living as a relevant consideration in setting a minimum wage, and I provide estimates of how state minimum wages would vary if they reflected cost-of-living differences. I also recommend the use of regional consumer price indexes (CPIs) to index the local minimum wage. Finally, I propose that cities and counties coordinate regional wage setting to mitigate possible negative effects of local mandates. 

The implementation of the state and local framework does not override the need for reform at the federal level. Thoughtful reforms to the federal minimum wage can help reduce poverty and mitigate inequality. The federal minimum wage has been the focus of substantial debate by academics and policymakers; this proposal focuses on state and local reforms that have received substantially less attention. These state and local reforms can be an important part of the policy portfolio for reducing the incidence of poverty and for helping low-income families support themselves as they strive toward the middle class. In particular, although the federal minimum wage serves as a floor in the labor market, there is some room for additional increases in higher-wage areas.

Downloads

Authors

  • Arindrajit Dube
Publication: The Hamilton Project
Image Source: Hero Images
     
 
 




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Should the US follow the UK to a Universal Credit?


British debates about welfare reform have often been influenced by American ideas. The Clinton-era welfare reforms were echoed in some of Tony Blair’s alterations to British benefits. Gordon Brown, as Chancellor, introduced a new Working Tax Credit as a direct result of studying the Earned Income Tax Credit. Brown particularly liked the political advantages of a ‘tax cut for hard-working families’, as opposed to a ‘benefit handout to welfare families’.

But now the transatlantic traffic in ideas on welfare is going the other way. The U.K.’s introduction of a single, unified system of transfer payments – the Universal Credit – is getting quite a bit of attention in the wonkier regions of D.C. politics. Paul Ryan, at a Brookings summit on social mobility, mentioned the Universal Credit (UC) as a possible inspiration for a new round of welfare reform. (Ryan is giving a speech at AEI in a couple of weeks: we’re likely to hear more about his thinking then.) When the architect of the UC, Iain Duncan Smith, visited D.C. recently, he held a series of meetings with leading Republicans to discuss his reforms.

The main attractions of the Universal Credit are fourfold:

  1. Simplicity. By unifying five cash benefits and an ‘in kind’ benefit (Housing Benefit) into a single, monthly payment, the complexity of the system from the point of view of the recipient will be greatly reduced.

  2. Cost control. Housing Benefit is paid directly to the landlord, which reduces the tenant’s incentive to control costs.  Add that to the crazily overheated U.K. housing market, and should come as no surprise that Housing Benefit has become a major strain on the system, quintupling in cost in real terms over the last two decades to hit £24 billion a year (c. $41bn), to become the second-biggest element of the U.K.’s system, after pensions.  By including an allowance for housing in the single cash payment in UC, the recipient will be incentivized to control their own housing costs.
     
  3. Stronger work incentives. The UC has a flatter ‘taper’ than existing benefits, meaning that cash payments are reduced more slowly as earnings rise. In particular, the UC will allow benefit recipients to work part-time (less than 16 hours a week), and still keep claiming. On the downside, incentives for second earners in two-adult families will be reduced. 

  4. Tighter and more targeted work requirements. The UC will contain stronger requirements to seek work than existing benefits, and importantly, has a ‘sliding scale’ of requirements, depending on the position of the recipient. For example, parents with children under the age of 1 will be exempt from work requirements; those with children aged between  1 and 5 will be obliged to attend for interviews with a case worker to prepare for a return to work; those with children at school will be required to ‘actively seek work’.

Sounds pretty good, doesn't it? And in fact it is, on paper at least. In practice the introduction of UC has been marked with huge overspend and delay on the required new IT system. The whole exercise has also been made much harder by cuts in many of the relevant cash benefits, as well as the introduction of a ‘household cap’ on total welfare receipts. The Universal Credit as an idea has a lot of support. As so often, it has been putting the idea a reality that has been difficult.

What—if anything—can the U.S. take from the UC? Short answer: not much. 

Many of the problems the UC addresses do not really apply in the U.S. Work incentives are already pretty strong in the U.S., thanks to the relative generosity of the EITC, and the relative meanness of out-of-work welfare supports. Also, there are already much stronger work requirements in the U.S. system. Some want to go further, and add work requirements to the receipt of food stamps, for example. But this would not require a major overhaul.  As Melissa Boteach and her colleagues at the Center for American Progress write,“the primary problem that the Universal Credit is supposed to address in the United Kingdom—the lack of incentive for jobless workers to enter the labor force—is far less of an issue in the United States”.

The UC also further centralizes an already highly centralized system, by getting rid of Housing Benefit, which is currently administered by Local Authorities. The U.S. system is much less centralized, with states and cities having a high degree of control over the way TANF and SNAP are administered. It is hard to see how anything like a UC could work in the U.S. at anything higher than State level. A Wisconsin Universal Credit makes sense in a way that a U.S. Universal Credit does not.  But if shifting towards block grants to states is really what this is about (see Marco Rubio’s ‘flex fund’ idea),that’s a whole different debate.

A final point. Simplicity and ease of use for the recipient is a key goal of the UC, and a worthy one. The stress and difficulties faced by low-income families just in applying for assistance is unacceptable in the 21st century. But it is not clear that the whole system has to be upended to achieve this goal. Technology ought to allow a single access point to the system, with the complexity out of sight of the user. 

In the U.K. the Universal Credit has a strong rationale, despite the implementation challenges. In the U.S., it is a solution in search of a problem. 

Publication: Real Clear Markets
Image Source: © Jessica Rinaldi / Reuters
     
 
 




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COVID-19 has thrust universities into online learning⁠—how should they adapt?

There is one golden rule for flying with an infant or toddler: Do whatever it takes to get through the flight peacefully with no harm done. Every parent knows this means relaxing their standards. Planting your kid in front of an iPad screen or giving them not so healthy treats might not win you a…

       




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Accumulating Evidence Using Crowdsourcing and Machine Learning: A Living Bibliography about Existential Risk and Global Catastrophic Risk

The study of existential risk — the risk of human extinction or the collapse of human civilization — has only recently emerged as an integrated field of research, and yet an overwhelming volume of relevant research has already been published. To provide an evidence base for policy and risk analysis, this research should be systematically reviewed. In a systematic review, one of many time-consuming tasks is to read the titles and abstracts of research publications, to see if they meet the inclusion criteria. The authors show how this task can be shared between multiple people (using crowdsourcing) and partially automated (using machine learning), as methods of handling an overwhelming volume of research.




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The Need for Creative and Effective Nuclear Security Vulnerability Assessment and Testing

Realistic, creative vulnerability assessment and testing are critical to finding and fixing nuclear security weaknesses and avoiding over-confidence. Both vulnerability assessment and realistic testing are needed to ensure that nuclear security systems are providing the level of protection required. Systems must be challenged by experts thinking like adversaries, trying to find ways to overcome them. Effective vulnerability assessment and realistic testing are more difficult in the case of insider threats, and special attention is needed. Organizations need to find ways to give people the mission and the incentives to find nuclear security weaknesses and suggest ways they might be fixed. With the right approaches and incentives in place, effective vulnerability assessment and testing can be a key part of achieving and sustaining high levels of nuclear security.




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Arms Control Agreement With Russia Should Cover More Than Nuclear Weapons

With the Russia investigation and impeachment behind him, President Trump finally may feel empowered to engage with Russian President Vladimir Putin and pursue an arms control deal.  




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Alonso returns to McLaren simulator

Fernando Alonso will return to the McLaren simulator on Wednesday as he closes in on a return to the cockpit ahead of the Malaysian Grand Prix




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Will House Democrats’ infrastructure plan yield results?

The recently released infrastructure framework from House Democrats is a broad statement of purpose, not a specific legislative agenda, says Adie Tomer, a sign that it's intended more as a platform for generating productive debate over the details--especially the always-contentious funding question. Tomer explains the wide range of programs covered in the proposal, why Democrats…

       




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Accumulating Evidence Using Crowdsourcing and Machine Learning: A Living Bibliography about Existential Risk and Global Catastrophic Risk

The study of existential risk — the risk of human extinction or the collapse of human civilization — has only recently emerged as an integrated field of research, and yet an overwhelming volume of relevant research has already been published. To provide an evidence base for policy and risk analysis, this research should be systematically reviewed. In a systematic review, one of many time-consuming tasks is to read the titles and abstracts of research publications, to see if they meet the inclusion criteria. The authors show how this task can be shared between multiple people (using crowdsourcing) and partially automated (using machine learning), as methods of handling an overwhelming volume of research.




ul

The Need for Creative and Effective Nuclear Security Vulnerability Assessment and Testing

Realistic, creative vulnerability assessment and testing are critical to finding and fixing nuclear security weaknesses and avoiding over-confidence. Both vulnerability assessment and realistic testing are needed to ensure that nuclear security systems are providing the level of protection required. Systems must be challenged by experts thinking like adversaries, trying to find ways to overcome them. Effective vulnerability assessment and realistic testing are more difficult in the case of insider threats, and special attention is needed. Organizations need to find ways to give people the mission and the incentives to find nuclear security weaknesses and suggest ways they might be fixed. With the right approaches and incentives in place, effective vulnerability assessment and testing can be a key part of achieving and sustaining high levels of nuclear security.




ul

Arms Control Agreement With Russia Should Cover More Than Nuclear Weapons

With the Russia investigation and impeachment behind him, President Trump finally may feel empowered to engage with Russian President Vladimir Putin and pursue an arms control deal.  




ul

Accumulating Evidence Using Crowdsourcing and Machine Learning: A Living Bibliography about Existential Risk and Global Catastrophic Risk

The study of existential risk — the risk of human extinction or the collapse of human civilization — has only recently emerged as an integrated field of research, and yet an overwhelming volume of relevant research has already been published. To provide an evidence base for policy and risk analysis, this research should be systematically reviewed. In a systematic review, one of many time-consuming tasks is to read the titles and abstracts of research publications, to see if they meet the inclusion criteria. The authors show how this task can be shared between multiple people (using crowdsourcing) and partially automated (using machine learning), as methods of handling an overwhelming volume of research.




ul

The Need for Creative and Effective Nuclear Security Vulnerability Assessment and Testing

Realistic, creative vulnerability assessment and testing are critical to finding and fixing nuclear security weaknesses and avoiding over-confidence. Both vulnerability assessment and realistic testing are needed to ensure that nuclear security systems are providing the level of protection required. Systems must be challenged by experts thinking like adversaries, trying to find ways to overcome them. Effective vulnerability assessment and realistic testing are more difficult in the case of insider threats, and special attention is needed. Organizations need to find ways to give people the mission and the incentives to find nuclear security weaknesses and suggest ways they might be fixed. With the right approaches and incentives in place, effective vulnerability assessment and testing can be a key part of achieving and sustaining high levels of nuclear security.




ul

Arms Control Agreement With Russia Should Cover More Than Nuclear Weapons

With the Russia investigation and impeachment behind him, President Trump finally may feel empowered to engage with Russian President Vladimir Putin and pursue an arms control deal.  




ul

Green Ambitions, Brown Realities: Making Sense of Renewable Investment Strategies in the Gulf

Gulf countries have hailed their investments in renewable energy, but some basic questions remain about the extent to which it makes sense for GCC states to invest aggressively in renewables. The sheer magnitude of such investments will require these countries to mobilize significant public resources.  Therefore, such an assessment requires these countries to focus on national interests, not just a desire to be perceived as constructive participants in the global transition away from carbon energy. 

This report starts by identifying four common strategic justifications for investing in renewable energy in GCC countries. Each of these rationales highlights a different aspect of renewable energy investments. In addition, each rationale is based on different assumptions about the underlying drivers of such investments, and each rationale is based on different assumptions about the future of energy. 
 




ul

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




ul

Low Prices, Full Storage Tanks: What's Next for the Oil Industry

When the economy slows, so does the demand for oil. Prices have plummeted and storage tanks are filled to capacity. We look at the future of the oil industry.




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COVID-19's Painful Lesson About Strategy and Power

Joseph Nye writes that while trade wars have set back economic globalization,  the environmental globalization represented by pandemics and climate change is unstoppable. Borders are becoming more porous to everything from drugs to infectious diseases to cyber terrorism, and the United States must use its soft power of attraction to develop networks and institutions that address these new threats.




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Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.




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Greener Stimulus? Economic Recovery and Climate Policy

In this edition of Columbia Energy Exchange, host Jason Bordoff and Professor Joseph Aldy explore the role of climate-change and broader environmental policy in the U.S. federal government’s emergency economic stimulus funding package.




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Hamilton leads McLaren 1-2 as Red Bulls self destruct

Lewis Hamilton led home team-mate Jenson Button for a McLaren 1-2 in the Turkish Grand Prix at Istanbul Park, capitalising on a collision between the Red Bulls of Mark Webber and Sebastian Vettel




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Hamilton delighted to 'take the battle to Red Bull'

A surprisingly subdued Lewis Hamilton said he hoped the McLaren 1-2 at the Turkish Grand Prix would give the team the push it needed to challenge the Red Bulls in the world championship




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Red Bull's Marko turns on Webber after accident

Red Bull's F1 bosses on Sunday backed Sebastian Vettel after the young German's crash with team-mate Mark Webber in the Turkish Grand Prix




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Red Bull aims to move on as McLaren looks to pounce

Red Bull has vowed to move on from its disastrous race in Turkey for the good of the team as it now faces a serious challenge from McLaren




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Red Bull drivers clear the air

Red Bull Racing drivers Mark Webber and Sebastian Vettel met with team boss Christian Horner, chief technician Adrian Newey and consultant Dr. Marko at the Red Bull Racing factory in further 'clear-the-air' talks on Thursday in the wake of the incident on




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Turkey could be priced out the F1 market

Bernie Ecclestone has reportedly demanded a doubling of the annual charge to US$26 million if the Turkish Grand Prix is to remain




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McLaren told Hamilton that Button wouldn't pass

Lewis Hamilton was told team-mate Jenson Button would not try to overtake him at the Turkish Grand Prix 10 days ago, seconds before the world champion did so and sparked a duel




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Lopez rules out F1 in 2010

Jose Maria 'Pechito' Lopez will not take part in Formula One this year after his manager revealed that he had not been able to land a reserve driver role at HRT




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Coulthard slams 'irresponsible' approach to new teams

David Coulthard has added his voice to those expressing concern about the presence of three new Formula One team on the grid this season




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What Policymakers Should Ask Modelers

With decision-makers relying on a growing torrent of forecasts regarding COVID-19 and other important issues, it is more important than ever that they ask questions about how the projections were made. To use predictive tools more effectively, policymakers should ask four questions in particular.




ul

Accumulating Evidence Using Crowdsourcing and Machine Learning: A Living Bibliography about Existential Risk and Global Catastrophic Risk

The study of existential risk — the risk of human extinction or the collapse of human civilization — has only recently emerged as an integrated field of research, and yet an overwhelming volume of relevant research has already been published. To provide an evidence base for policy and risk analysis, this research should be systematically reviewed. In a systematic review, one of many time-consuming tasks is to read the titles and abstracts of research publications, to see if they meet the inclusion criteria. The authors show how this task can be shared between multiple people (using crowdsourcing) and partially automated (using machine learning), as methods of handling an overwhelming volume of research.




ul

The Need for Creative and Effective Nuclear Security Vulnerability Assessment and Testing

Realistic, creative vulnerability assessment and testing are critical to finding and fixing nuclear security weaknesses and avoiding over-confidence. Both vulnerability assessment and realistic testing are needed to ensure that nuclear security systems are providing the level of protection required. Systems must be challenged by experts thinking like adversaries, trying to find ways to overcome them. Effective vulnerability assessment and realistic testing are more difficult in the case of insider threats, and special attention is needed. Organizations need to find ways to give people the mission and the incentives to find nuclear security weaknesses and suggest ways they might be fixed. With the right approaches and incentives in place, effective vulnerability assessment and testing can be a key part of achieving and sustaining high levels of nuclear security.




ul

Arms Control Agreement With Russia Should Cover More Than Nuclear Weapons

With the Russia investigation and impeachment behind him, President Trump finally may feel empowered to engage with Russian President Vladimir Putin and pursue an arms control deal.  




ul

China After Coronavirus – Should We Ever Trust Beijing Again?

The coronavirus has exposed even deeper fault lines in the increasingly acrimonious U.S.-China relationship. The U.S. is now taking appropriate measures to mitigate the risk to our national security of relying on China for critical technology, precious metals and medical supplies.




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Massa bemoans difficult race

Felipe Massa complained about a lack of grip from his Ferrari after finishing a disappointing sixth in the Spanish Grand Prix




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Vettel was told to retire from Spanish GP by Red Bull

Sebastian Vettel has revealed he was asked to retire from the Spanish Grand Prix by his team but stayed out on track to finish third




ul

Green Ambitions, Brown Realities: Making Sense of Renewable Investment Strategies in the Gulf

Gulf countries have hailed their investments in renewable energy, but some basic questions remain about the extent to which it makes sense for GCC states to invest aggressively in renewables. The sheer magnitude of such investments will require these countries to mobilize significant public resources.  Therefore, such an assessment requires these countries to focus on national interests, not just a desire to be perceived as constructive participants in the global transition away from carbon energy. 

This report starts by identifying four common strategic justifications for investing in renewable energy in GCC countries. Each of these rationales highlights a different aspect of renewable energy investments. In addition, each rationale is based on different assumptions about the underlying drivers of such investments, and each rationale is based on different assumptions about the future of energy. 
 




ul

Urban Waste to Energy Recovery Assessment Simulations for Developing Countries

In this paper, a quantitative Waste to Energy Recovery Assessment (WERA) framework is used to stochastically analyze the feasibility of waste-to-energy systems in selected cities in Asia.