The Eyes on the Ties blog has been popping with posts lately and addressing the latest in the news cycle. Kicking off this roundup is Kevin’s research into the negotiating table at JPMorgan as it reached a tentative $13 billion settlement with the Department of Justice. Turns out that negotiating table is little more than a revolving door. JPMorgan’s general counsel is the former director of the SEC’s enforcement division. The DOJ’s team includes attorney general Eric Holder, who represented Bank of America and UBS while at Covington & Burling, deputy attorney general James Cole, a lawyer for AIG when he was a partner at Bryan Cave, and associate general attorney Tony West, who represented Washington Mutual when he was at Morrison & Foerster. What a small world.
Harvard University announced this week that Gen. David Petraeus, former director of the CIA and current chair of private equity giant KKR’s global institute, has been appointed as a non-resident senior fellow at the Belfer Center for Science and International Affairs, a unit of the university’s Kennedy School of Government. According to the school’s press release, Petraeus will be jointly leading a Belfer Center project on “The Coming North America Decades,” which shares the name with the course he is currently teaching at the City University of New York (CUNY) Macaulay Honors College. As DeSmogBlog revealed this summer, Petraeus’s imminent “North American decades” will be partially attributable to the embrace of hydraulic fracturing and the exportation of liquefied natural gas (LNG); among the required readings for his course at Macaulay are two industry-funded studies endorsing natural gas as safe for the environment.
Petraeus’s enthusiasm for natural gas gels nicely with his position at KKR, which was the subject of a Forbes article titled “Guess Who’s Fueling the Fracking Boom?” last year thanks to its massive investments in shale gas companies over the past several years. His voice also is a natural fit at the Belfer Center, which has extensive ties to the oil and gas industry and is home to the BP-funded Geopolitics of Energy Project.
In recent interviews, Dr. Bruce Pitman, the dean of the University at Buffalo’s College of Arts and Sciences responded to PAI’s criticism of a study published this summer by the school’s Shale Resources and Society Institute. To a WBFO reporter, Pitman characterized claims of SRSI’s poor scholarship as “nonsense”, saying, “We haven’t been able to get past the noise on the extremes in order to actually begin to talk about what’s sensible and serious here.”
“PAI took data from the very report turned it around and said, ‘Oh if you do the calculations this way something else happens.’ So was the report honest and open and did it disclose all the facts and define all its terms? I think it did. People choosing to interpret things differently – absolutely fair enough – but you can’t discredit the report if it’s providing you the data you’re choosing to look at differently.”
Here, Pitman was responding to this quote from a PAI researcher interviewed for the article:
“The biggest thing is that two of the main claims of the UB report were just flat out wrong,” Galbraith said. “When it comes down to it, they made a claim that is totally unsupported by their data. Their data doesn’t say what they say it says.”
The claim at question, found on page iii of the SRSI study, is:
In conclusion, this study demonstrates that the odds of non-major environmental events and the much smaller odds of major environmental events are being reduced even further by enhanced regulation and improved industry practice. (emphasis added)
The numbers and method of finding the odds used in the SRSI report show that in 2008 the odds of “major environmental events” were 5 in 1000 and in 2011 the odds of “major environmental events” were 8 in 1000, i.e. increased, not reduced. The following is a further examination of this simple math problem, with excerpts from the SRSI report to show where the numbers came from and that the calculations were not performed some other way, as Dr. Pitman asserted.