Should Chemists Unionize? We have a divided crowd! Almost half of readers think chemists 'should' unionize and about equal voiced 'should not'. |
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THE BUSINESS CORNER
Boom, Gloom and the New Normal - Part 3
(Access Archives for Part 1, Part 2 )
By Paul Hodges, International eChem
 The worrying rise of oil and gasoline prices.
What's the cause of today's soaring gasoline prices?
Is it lack of supply? Are inventories too low? Is OPEC holding the West to ransom? Or is it due to strong demand from China and other emerging countries?
These are all arguments put forward as the 'conventional wisdom' used to justify the high cost of oil.
In Chapter 3 of our new eBook 'Boom, gloom and the new normal - how Western baby boomers are changing global chemical demand patterns, again', we argue that the real cause of the problem is a lot closer to home, in Wall Street, and the financial community.
Our analysis suggests that:
- The Commodity Futures Modernization Act passed in 2000, thanks to lobbying by the now-defunct Enron, helped to put crude markets in the hands of the speculators.
- Oil and commodity markets have since become a casino, where fundamentals of supply and demand have become irrelevant.
- For example, between 2005 and 2008, the share of trading undertaken by financial players in crude markets soared from 20% to 55%
Today, the prices of oil, gasoline and other fuels are being set by high speed computers, trading in micro-seconds. Andy Haldane, an executive director at the Bank of England, has recently pointed out that if supermarkets ran these programs, "the average household could complete its shopping for a lifetime in under a second. Imagine."
These computers thrive on the cheap money that has been pumped out by the Federal Reserve in its quantitative easing programs. Thus oil and gasoline prices rose in 2009-2010, despite record-high inventories.
They have soared still further this year:
- Between January and the end of April, the price of Brent crude oil (the main global grade) rose from $93/bbl to $126/bbl, a 35% rise
- This occurred whilst the Fed was providing $600bn to financial players via its QE2 (quantitative easing) program.
- Prices have since drifted lower, due to the end of the program.
- Already, Wall Street is lobbying for QE3 to begin.
Higher oil prices make life very difficult for us as individuals. We have to pay for gasoline and energy to drive our autos and heat/cool our homes. The situation is even worse in poorer countries such as China and the Middle East, where food and commodities take a higher share of people's incomes.
Equally, they leave us with less money to spend on the more discretionary items that drive chemical industry demand.
Plus, of course, there is the worrying fact that since 1970, every time oil prices have reached today's levels (in inflation-adjusted terms), their rise has been followed by a recession.
Go to www.icis.com/NewNormalEbook to download Chapter 3.
 Chemicals and the Economy blogger. Watch Paul's latest insight on ACS Webinars on 2011 Chemicals and the Economy Mid-Year Analysis and Projections.
Email us chemical business topics you would like us to cover in future issues.
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CONSULTING TIP OF THE MONTH
Combining Consulting With Laboratory Work
by Ron Bihovsky, Ph.D., Key Synthesis, LLC
Consultants frequently suggest solutions based upon their expertise which their clients subsequently investigate in the laboratory. For many chemical consultants, laboratory research was one of the most rewarding aspects of their careers. While most consultants function without a laboratory, some consultants successfully combine a chemical consulting practice with the experimental work that originally attracted them to chemistry.
A consultant interested in performing laboratory research must overcome all of the challenges faced by a consultant as well as additional issues inherent to setting up a laboratory. These include finding a location, securing funding, purchasing equipment, finding a research niche, marketing, pricing and identifying clients. These challenges are balanced by the satisfaction of knowing that one has succeeded in solving research problems or manufacturing products.
Some examples of the work done by chemistry consultants with laboratories include: Laboratory research to support patent applications and patent litigation; process improvement; safety assessment; polymer chemistry; synthetic chemistry; medicinal chemistry; custom synthesis; analytical chemistry and testing. The membership of Chemical Consultants Network includes chemical consultants who have established research laboratories to combine consulting with laboratory investigations.
 Dr. Ron Bihovsky is an organic chemistry and medicinal chemistry consultant and the founder of Key Synthesis LLC, a custom synthesis company specializing in synthesis of biologically active compounds. He also performs experimental work and testifies as an expert witness in pharmaceutical patent cases. He previously worked as a medicinal chemist in the pharmaceutical and biotechnology industry, and conducted research natural product synthesis in academia. He currently serves as chairman of the Chemical Consultants Network .
Have comments? or wish to describe your combined lab and consulting practice? Go to the Chemical Consultants Network LinkedIn Site .
Register now for CCN's next webinar, featuring Dr. Marc Halpern on Seven Effective Marketing Techniques for Chemical Consultants.
Should a consultant incorporate or not, and if so, how? Look for answers in the next two monthly articles.
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THE WRITING CLINIC - The Doctor is IN
Focus On Revision
By Kristin Sainani, PhD., Stanford University.
Even for the most experienced writers, polished prose doesn't spew out spontaneously onto the page-it's a product of multiple rounds of deliberate and careful revision. Here are a few tips for effectively revising your work:
- Read your writing out loud. The brain processes the spoken word differently than the written word. Your eyes can repeatedly skim over awkward phrases, drawn-out sentences, and messy transitions without a flicker of recognition, but your ears will catch these problems immediately.
- Get help from a non-chemist. Ask someone outside your department-a friend, significant other, or non-chemist colleague-to read your manuscript. They may not understand all the scientific details, but should easily surmise the main findings, take-home messages, and significance of your work. If they are struggling to make sense of the text, ask them to highlight particularly difficult passages and sections.
- Do an organizational review. In the margins of your paper, tag each paragraph with a phrase or sentence that sums up the main point. Then move paragraphs around to improve logical flow and bring similar ideas together.
- Do a verb check. Underline the main verb in each sentence. Look for: (1) lackluster verbs (e.g., There are many students who struggle with chemistry.); (2) passive verbs (e.g., The reaction was observed by her.); and (3) buried verbs (e.g.,A careful monitoring of achievement levels before and after the introduction of computers in the teaching of our course revealed no appreciable change in students' performances.). Then try alternative verbs or constructions.
 Kristin Sainani is a clinical assistant professor at Stanford, where she teaches statistics and manuscript writing. She is also a freelance health and science writer.
Want more tips? View Kristin's recorded presentation.
Have writing questions for Kristin? Email us your questions or tips you would like Kristin to cover in future issues.
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THE MARKETPLACE CORNER
Transitioning From Industry to An Academic Career.
By Molly B. Schmid, Keck Graduate Institute of Applied Life Sciences
 After several years in industry, you may be considering a transition into academia. Perhaps you have fond memories of your graduate school days, or just want to give back to the profession by helping to train the next generation.
You will likely encounter several barriers in making this career transition. Your resume will probably have fewer examples of the typical "currencies" of academia - publications, grant funding, and demonstrations of your teaching skills.
To overcome these barriers, you might consider transitional positions, such as an adjunct professor or research professor. Recognize that the pay for these positions is often very low, or contingent on the successful funding of a research proposal in times of historically low federal funding rates.
Yet there are opportunities. Your experiences with interdisciplinary teams or skills in project management are relatively rare in academia. Large interdisciplinary research projects are becoming more common in the chemical and biological sciences, requiring project management. In addition, many schools are creating Professional Science Master's degrees (http://www.sciencemasters.com/), which train students for non-academic positions, and attract faculty with industry experience.
Most full-time academic positions are advertised in The Chronicle of Higher Education (http://chronicle.com/), which also carries articles on university life for faculty and administrators. Adjunct faculty positions are more often created in response to specific departmental needs, so to explore those opportunities, contact the appropriate department.
 Dr. Molly B. Schmid, Keck Graduate Institute of Applied Life Sciences. Molly is currently a Professor and Entrepreneur-in-Residence where she teaches courses on entrepreneurship and the science and business aspects of drug discovery and development.
Have questions for Molly? Email us your questions that you would like Molly to cover in future issues.
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ACS Webinars™ CLICK * WATCH * LEARN * DISCUSSLearn more and register at www.acswebinars.org - Professional Growth
- Aug 4, 2011 - 7 Highly Effective Marketing Techniques for Chemical Consultants.
ACS Webinars™ connects you with subject matter experts and global thought leaders in chemical sciences, management, and business on relevant professional issues. More information and registration... Have ideas? Email us your suggestions for future ACS Webinars ™ topics. Please include 'Webinar Topic Suggestion' in the subject line. Back to Top Page
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Upcoming conferences that may be of interest to you:
- Aug. 28-Sept.1, 2011 - Fall 2011 ACS National Meeting and Exposition in Denver, CO. Mark your calendar!
- Sept. 14, 2011 - New Business Paradigm for Pharmaceutical Companies, Societe de Chimie Industrielle, NY.
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Chemical Marketing & Economics Group of ACS-NY Webcast Thursday, September 18, 2011 "Next in Cleantech: Zero-Waste Renewable Chemicals" with speaker Kelly Ogilvie, President and CEO of Blue Marble Energy and Blue Marble Biomaterials. Register at: http://tinyurl.com/cme-sept11 Back to Top Page |
 Lens of Science and the Market:
How to Position your GREEN and SUSTAINABLE MATERIALS.
67th SWRM. Austin, Texas. November 11, 2011. $150 per team. The ACS's Division of Business Development & Management, Division of Small Chemical Business, Women Chemists Committee and the National Collegiate Inventors and Innovators Alliance /VentureWell invite you to attend an all day workshop focused on translating your research into a commercial innovation at the 67th Southwest Regional Meeting this year in Austin, Texas. This is an excellent opportunity for existing teams of 2 to 5 innovators to relate their research on green and sustainable materials to market definitions, segmentation and technical solutions. Space is very limited, so please apply early! Register at: http://www.swrm2011.org/registration/ Back to Top Page |
Can't attend the live ACS Webinars? To access recordings of past ACS Webinars, please visit our on-demand content library or YouTube. Want your events included in The Distillate and/or ACS Webinars webpage? Please email us your event info with the subject title EVENTS. Back to Top Page
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Spells, Charms, and Potions - The Chemistry Way
How many of you can list all the elements in the periodic table? Fans of Daniel Radcliff (Harry Potter) may be delighted to see that he can not only cast spells, but he can also recite all the elements. This is an incantation - the chemistry way. Perhaps this will inspire young muggles to be future alchemists.
 | | Daniel Radcliffe sings "The Elements" - The Graham Norton Show - Series 8 Episode 4 - BBC One |
Have other chemistry trivia we should feature? Write to us at distillate@acs.org.
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Chemist in Action!
To all action movie buffs or Sweedish fans, this month we are featuring chemist-turn-actor Dolph Lundgren . Originally hailed from Sweden, Dolph holds degrees in chemistry and chemical engineering. Though not a practicing chemist, he has been cited to attribute his chemistry degree in "making really good drinks." Do chemists make good movie stars? You decide!
Our thanks to Rob Schmidt Livermore, CA, for sending us this Action-able Chemist.
Know other notable chemists we should feature? Write to us at distillate@acs.org.
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 What color and shape of Fireworks is considered to have the most challenging chemistry?
Blue fireworks is the most difficult to produce. Made from copper oxidizers, one has to get the right reaction temperature to get the beautiful blue. Hence, you can also tell quality of the manufacturer from the blues they produce.
Crave more pyrotechnics? Plan ahead and get front row seating at the upcoming ACS Webinars on Welcoming 2012 - Chemistry of Fireworks .
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 Win an ACS 'International Year of Chemistry 2011' lapel pin.
" Science is a wonderful thing, if one does not have to earn one's living at it." by ???
Send us your correct answer to win the lapel pin. Three winners will be selected for this popular pin. This month's quote was submitted by Elizabeth Martin from Media in PA.
Email us (distillate@acs.org) your answer by August 15, 2011 to be entered into the drawing. Please use QUOTE for the subject line. The answer to the quote and the winners will be posted in next month's edition.
Congratulations to Carmay Lim of Taiwan, Rob Zipkin of Pennsylvania, and Oksana Klueva also of Pennsylvania. Winners were randomly selected from all the correct entries (Answer: Hans Selye) received. Thank you to all who entered the contest.
Have a favorite quote? Please email us (distillate@acs.org) and if we use your submission, we will send you a surprise prize.
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Reach >100,000 scientific professionals. If you would like to submit an article, news, or upcoming events for next month's
newsletter, email us by 5:00 pm Eastern Time on the third Friday
of the month to imp@acs.org. Inclusion is subject to space and
editorial discretion.
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