"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Showing posts with label coal. Show all posts
Showing posts with label coal. Show all posts

Saturday, November 22, 2008

Dirty King Coal has a Bright Future - National Intelligence Council report


Global Trends 2025: A Transformed World - National Intelligence Council (8.1 Mb. pdf !)

"...coal may be the fastest growing energy source despite being the “dirtiest.” Rising prices for oil and natural gas would put a new premium on energy sources that are cheap, abundant, and close to markets. Three of the largest and fastest-growing energy consumers—the US, China, and India—and Russia possess the four largest recoverable coal reserves,representing 67 % of known global reserves. Increased coal production could extend non-renewable carbon-based energy systems for one or even two centuries." Page 63

"All current technologies are inadequate for replacing traditional energy architectures on the scale needed, and new energy technologies probably will not be commercially viable and widespread by 2025" Page 65

All of which translates somehow in the Poop Murdoch press into (Times today) ..."On a positive note it added that an alternative to oil might be in place by 2025." ... unless of course they mean the alternative to oil will be coal ?

In this context it is worth noting that British Energy - soon to be re-branded as French Energy - produced their half year results this week .. They produced 22.7TWh down 27 % from 30.7TWh for H1 7/08 ... a 31 % reduction in nuclear output of 19.2TWh from 27 .8TWh) and huge increase of 40 % from their single coal fired Eggborough coal plant of 3.5TWh compared with 2.9TWh. It is worth noting that fuel costs at Eggborough also increased from £63 Mn. to 146 Mn. reflecting increased costs of coal on world markets.

This meant that even with a realised price per MWh up from £38.4 to £47.2/MWh for the period, up £8.8/MWh from £38.4/MWh in the comparable period unit operating costs had increased from £26 to £41.3/MWh and so margins slipped perMWh from £12.5 to £5.9.

Partly the result of having 5TWh of output capped until 2011 at £34/MWh. The capped contracts are for delivery of approximately 5TWh.

Expect some fancy footwork for carbon emissions "aspirations" , "targets" , "goals" to be ...er .. downgraded .. forgotten .. between now and 2025.

UPDATE Economic Slump May Limit Moves on Clean Energy NYT By ELISABETH ROSENTHAL November 24, 2008

"At the same time, the price of buying permits to emit carbon dioxide in Europe — a system the European Union uses to discourage companies from polluting — have fallen by half compared with the price a year ago, largely because of slower growth.

Wind costs more than $2.5 billion per gigawatt to build, compared with $600 million for gas. Carbon permits and subsidies can narrow that gap, but the current low prices mean that it is cheaper to burn coal, even after paying penalties for the carbon dioxide emissions."

Monday, July 16, 2007

Energy Wars hit Mexico - EPR attacks Gas / Oil pipelines - serious economic damage

There has been little comment about 4 blasts which broke 36" (91cm) pipelines carrying natural gas, liquefied petroleum gas, crude oil and gasoline over the past week in Mexico. The Popular Revolutionary Army, or EPR, has claimed responsibility for the attacks to state monopoly Pemex's pipelines and said this was .."the beginning of a "national campaign of harassment against the interests of the oligarchy and this illegitimate government."

In its statement, the EPR linked the explosions to an ongoing political battle in the southern state of Oaxaca, where teachers and leftist activists have been demanding the resignation of Gov. Ulises Ruiz since last year.

The EPR said its campaign of "harassment" would continue until President Calderón and Gov.Ruiz delivered two named comrades "alive" following their disappearance May 25 in Oaxaca.

Victor Lopez head of industrial group Canacintra told Reuters "There are more than a thousand, nearly 1,200 companies, that have been greatly hurt because of the lack of (gas) supply," which has affected companies such as Honda Motor,(Guadalajara) Nissan Motor Co.(Aguascalientes) and General Motors. Mexico's major glass manufacturer, Vitro, said on Wednesday it had halted operations at two of its plants, meaning $800,000

It is the major industrial areas in central states like Aguascalientes, Guanajuato, Jalisco and Queretaro. ...and repairs are taking there time.

Pemex said on Thursday it had restored natural gas supply to the central city of Queretaro and hoped to restore supply in Jalisco and the city of Guadalajara by midnight.

"Workers at Petroleos Mexicanos connected a bypass to the Mexico-Guadalajara natural gas duct and began tests," the company said in a statement.

Mexico has deployed soldiers and federal police to protect Pemex's oil wells and pipelines from further attacks.

There was a massive explosion at 8.55 am on Friday July 30th 2004 at the Ghislengien Industrial Estate in Belgium, 16 people died immediately several suffered a lingering deatah by burns and over 200 people were injured. see THE BIG BANG THEORY – The Bigger the Bang, the Louder the Silence

Europe increasingly relies on natural gas - much of it from Russia (see previous story) , who have shown how they use it as a weapon , the Mexican guerillas have have taken a more direct way of affecting national governments.


Thursday, November 09, 2006

Deaths of US coal miners doubles


The excellent Confined Space alerts us to the fact that 44 US coal miners have been killed on the job so far in 2006, double the 22 who were killed in all of 2005, and the highest number of coal miners that have been killed in one year since 1995.

Kentucky miner,
Tony Swieney, 44, an underground mine section foreman, was struck on the head by a large electrical plug when he was dragging a large cable on Saturday afternoon at the McCoy Elkhorn Number 23 mine near Ashcamp, Pike County which mines the Fireclay and Pond Creek seams on the room and pillar system.

Mine Safety and Licensing spokesman Chuck Wolfe says the plug end of the cable was wrapped around a pole of the scoop canopy.

Wolfe says it appears the cable became snagged, the plug end whipped loose from the pole, and Swieney was hit in the head.

Swieney died on the way to the hospital. His death is the 15th coal-related fatality in the BlueGrass state this year.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish