U.S. Banks Aren’t Seen as ‘Stupid’ Enough to Invest in Trump’s Coal Program

first_imgU.S. Banks Aren’t Seen as ‘Stupid’ Enough to Invest in Trump’s Coal Program FacebookTwitterLinkedInEmailPrint分享Global Trade Review:Obama’s flagship policy was intended to restrict carbon dioxide emissions and has been under attack from the Republican Party since it came into being in 2014.Now, the head of the Environmental Protection Agency (EPA), Scott Pruitt, has signed an order to scrap the plan, in a bid to boost the country’s coal industry. But experts say that banks that have moved away from coal financing are unlikely to use this as an excuse to go back.“I think they’ll give it consideration but at the end of the day I would be very skeptical that the rollback will have any long-term implications. The reality is the average wind or solar project is costing US$20 per MWh. Could you build a new coal plant for that price? No, it would cost you about US$50 per MWh for gas even,” Tim Buckley, director of energy finance studies at the Institute for Energy Economics and Financial Analysis, tells GTR.He adds: “I can’t see why any US bank is going to turn on a dime and support the Trump plan knowing he might be gone in three years. He’s gone, and you won’t even have built the plant, you’re left with a 40-year stranded asset. It would be stupid.”Over the last few years, a number of large banks have restricted their financing for the coal industry. Deutsche Bank earlier this year committed to ending financing of new coal mining and new coal-fired power plant construction. ING made a similar pledge, but much earlier. The likes of JP Morgan and the Bank of America Merrill Lynch made less sweeping commitments, but pledged to limit their credit exposure to coal.Only ING responded to GTR’s request for fresh comment around whether the stance of the US government would shape their internal policy on coal. The bank says that on the contrary, it expects to accelerate its withdrawal from the sector.“What we can do is adopt a core policy, but we can’t do it all by ourselves, we need government support as well. That’s why we’ve been for years calling for a strong climate accord. We have called for a price for carbon, an end to fossil fuel subsidy and for energy efficiency. We need that as a bank to enable us to incorporate risks into our risk models. We need to price carbon to incorporate carbon pricing into our risk models. We need companies to disclose their carbon footprints to understand the indirect effect we have on society through that carbon footprint,” says the bank’s head of business ethics, Arnaud Cohen Stuart.“Governments can have an important role to increase our leverage on the global agenda. There is a need for a strong accord and we support that. But at the same time we have to take our own responsibility. Regardless of what COP23 will look like, we feel that we don’t need to finance new thermal coal and we intend to accelerate decreasing our exposure,” he adds.Trump’s bullish support of the US coal industry led to a 58% rise in coal exports over the first quarter of this year. This was also facilitated by a decline in coal production in China, which led to greater demand for US coal.However, the boom is likely to be short term and anomalous in the long-term decline of coal. More countries are weaning themselves off burning carbon, while others, such as India, are consuming more of their own product at the expense of imports. The US fossil fuel industry, which funded and supported the Trump campaign vociferously, may be content with the short-term improvement but is acceptant of coal’s fate.In a recent presentation for shareholders, the largest private sector coal company in the world, Peabody Energy, said that it expects 10GW of coal-fired plant retirements per year going forward.“There’s huge scope for the utilisation rate of remaining coal-fired plants to go up to the extent power demand is there, but when you continue to see plant closures, your industry is in terminal decline. Demand has been flat for decades. You’re still seeing 20GW of renewables being built, a net 10GW of gas being built each year. Once you build renewables, there’s a zero margin cost of supply. It will always win the fight,” Buckley says.More: Trump scraps Obama’s climate legacy, but banks unlikely to followlast_img read more

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42 certified as Credit Union Business Lending Professionals

first_imgForty-two credit union professionals earned their Credit Union Business Lending Professional designation (CUBLP) at this year’s CUNA Business Lending Certification School. This designation is awarded to attendees after they complete and pass all exams at the three year program.“This program is amazing for any credit union that is involved in Commercial Business Loans,” said Tricia Medert, business service analyst at Pathways FCU.CUNA Business Lending Certification School equips attendees with business lending essentials, strategies to innovate lending programs and so much more.Save the date for the next CUNA Business Lending Certification School which takes place July 20-23, 2020 in Madison, Wis. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

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A Day at the Track

first_imgOne of my fun days since I am retired is to take off and spend an afternoon at a horse track. This year it is going to be harder, because my favorite track is shut down for renovation. River Downs is in a multi-million dollar makeover, so it can not only feature live racing and OTB racing, but also slot machines. This is the new trend in tracks. I am only interested in the live racing. I like to watch those beautiful thoroughbreds run. However, with the increased cost of developing a race horse, fewer horses are available and people seem to think they cannot loose enough money just betting on live races. Therefore, tracks are forced to supply the full line of gambling to bring the crowds to the track. If they are successful, then the horses will appear in larger numbers again and everyone will have a chance to make more money. I will have to go to Shelbyville and see how I can do at their track. It is a beautiful facility, but in the past did not feature thoroughbreds as much as I liked. This has changed, so I will have to see how that goes this summer. With my $2 bets, I doubt if I develop a gambling problem. I just like to see how I can do against the odds, and as I said previously, watch the horses run. I have been known to spend 4 hours at the track and spend no more than $20. I usually can match that in winnings, so at the end of the day I am all even. I am the last of the big-time bettors!last_img read more

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Friesen awards crate engines to three IMCA rookies of year

first_imgFriesen awards crate engines to three IMCA rookies of yearLINCOLN, Neb. – Friesen Performance made even bigger winners of three rookie of the year award recipients during the IMCA national banquet.Modified rookie of the year Clint Luellen received a 604 crate engine. Hobby Stock rookie of the year Lance Mielke and Northern SportMod rookie of the year Jacob Olmstead both earned 602 crates for their efforts in 2017.“This is the second year for this program, which is obviously a great benefit to the rookies of the year in these three divisions,” noted IMCA Marketing Director Kevin Yoder. “We appreciate Friesen’s title sponsorship of the national rookie program in all three divisions and look forward to continuing this program well into the future.”In addition to completing IMCA rookie of the year requirements, drivers must have displayed a Friesen logo on their race car to be eligible for the crate engine award.Also the top first-year driver in the Side Biter Chassis North Central Region, Luellen won nine features and was ninth in the national points race. He earned three track championships and the Allstar Performance Iowa State crown.Mielke also paced Big Daddy Race Cars Northern Region standings. He was a five-time feature winner.Olmstead collected 10 checkers during the season and won the Lexington Raceway track championship.last_img read more

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Chelsea extend kit deal

first_img Press Association Terms of the deal were not disclosed, but it is larger than the reported £18million a season received from Samsung for shirt sponsorship. Chelsea chief executive Ron Gourlay said: “We are delighted to extend our partnership until 2023 after a highly successful first seven seasons. Both organisations share the same ethos and ambition and the new deal reaffirms Adidas’ belief in the club’s status in world football.” The 2012 Champions League winners and 2013 Europa League champions will bid for further success this term under returning manager Jose Mourinho. The Blues added in a statement: “This is the biggest deal to date Chelsea FC has signed with a partner and will see the sports brand continue to be the official sponsor and sportswear supplier for the club over the next 10 years. “The partnership, which began in 2006, has continued to grow during a period of continued success for Chelsea. “The Blues have won major honours both domestically and in Europe including being the first London club to win the UEFA Champions League. We have also won the Premier League, four FA Cups, the League Cup and last season, the UEFA Europa League.” center_img Chelsea and Adidas have agreed a new 10-year contract in an agreement the Blues describe as “the biggest deal to date”.last_img read more

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Mertesacker rues lost points

first_img Arsene Wenger’s side took a significant step towards securing a top-four finish with a 3-0 win over a lacklustre Newcastle side at the Emirates Stadium on Monday night, where fit-again record signing Mesut Ozil scored one and created another. Arsenal are now four points clear of Everton with just two games to go, with the Toffees having been beaten by Southampton at the weekend. “Everyone questioned our qualities, but how we came back as a team, that makes us stronger for the future.” Mertesacker added: “We are in a cup final and it is important to secure Champions League football, so these are good targets to go for. “We are happy to have a lot of players back. The squad is getting stronger and stronger.” Arsenal midfielder Alex Oxlade-Chamberlain missed the Newcastle match because of a groin complaint which although not serious will leave the England man touch-and-go for the FA Cup final. Newcastle, meanwhile, will head back to north-east England looking to regroup following what was a sixth straight defeat which has left their place in the top 10 now under serious threat. Alan Pardew, who returned to the dugout following a lengthy touchline ban, accepts the supporters have a right to voice concerns following a miserable run of just 13 points from 17 league games since the turn of the year – with many of the 2,000-strong Toon Army calling for the manager’s head during Monday’s night’s latest feeble offering. Midfielder Dan Gosling said: “Having the manager there on the touchline again was a great help, but ultimately it is the players who cross the white line who have to do the job, and again at Arsenal, we did not do that. “We have lost some games where we should not have, but we can’t just keep saying that. “We are disappointed, but we will go again now on Saturday and have a cup final against Cardiff. “The fans have always been tremendous and we get a great travelling army, and at home we will need them now more than ever to push us over the line.” The Gunners will be guaranteed a place in the Champions League qualifiers for the 17th consecutive season should Everton come unstuck again when they tackle Manchester City on Saturday, or Arsenal beat West Brom 24 hours later before attentions turn to ending the club’s trophy drought in the FA Cup final against Hull at Wembley. As positive an ending as the campaign may yet bring, Mertesacker cannot help but reflect on what might have been, with Arsenal at one stage seven points clear of current leaders Liverpool at the top of the table before paying a heavy price for a series of poor results against their direct rivals. “We have struggled heavily with a couple of injuries, but we have regrouped very well and how we managed the situation was maybe more important than last year, so securing Champions League football was another test for us,” he said. “It is not done yet, Everton play Manchester City on Saturday, but we have it in our own hands. “However, everyone wanted us to get further up, especially the fans, and we were top of the table for a long time. “Everyone dreamed about the title, but it takes more than staying top until the winter period. “We could not afford those (losses) in big games against big teams, so we did not deserve to be in the first three. That is something we have to manage much better next year. “The (defeats in the) early away games (at Manchester City, Liverpool and Chelsea) killed us this year. Hopefully we can learn from that. Press Association Defender Per Mertesacker feels Arsenal have answered their critics by closing in on Champions League qualification once again, but admits failings against the Barclays Premier League’s top three killed off their title dream. last_img read more

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Indian Premier League Kagiso Rabada ruled out of IPL 2019 due to back injury, big blow for Delhi Capitals

first_imghighlights Delhi Capitals head coach Ricky Ponting expressed his disappointment of losing Rabada at this stage. “It’s unfortunate that Rabada is having to leave us at this stage of the tournament. But I have full confidence in our team and I’m sure each and every member of this unit will step up to the occasion,” Ponting said.Rabada put in some brilliant spells during the 2019 IPL. In the super over encounter against Kolkata Knight Riders at the Feroz Shah Kotla, his brilliant yorker to the in-form Andre Russell gave Delhi Capitals a brilliant win. Against Virat Kohli’s Royal Challengers Bangalore, Rabada picked up Kohli and AB de Villiers as he picked his career-best figures of 4/21 at the M Chinnaswamy stadium in Bangalore.Delhi Capitals will play their last league game against Rajasthan Royals at the Feroz Shah Kotla and a win will secure them a spot in the top two and two chances of entering the final. On the other hand, a win for Rajasthan Royals will keep them in the hunt and they will be hoping that other results go their way with Sunrisers Hyderabad losing to Royal Challengers Bangalore and Kings XI Punjab, Kolkata Knight Riders not winning more than one game. For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps. New Delhi: Kagiso Rabada, who has taken 25 wickets in the 2019 edition of the Indian Premier League and has been a key factor in Delhi Capitals’ surge towards the playoffs after six years, has been ruled out of the remainder of the tournament due to a back injury. With the 2019 World Cup less than four weeks away, Rabada decided that he needed to take a break in order to be fit for the tournament which will begin on May 30 when England take on South Africa in the opening game at The Oval. In a statement released by Delhi Capitals, Rabada decided to head home on the advice of Cricket South Africa“It is indeed very hard for me to leave the Delhi Capitals at this stage of the tournament. But with the World Cup just a month away, a collective decision has been made for me in this regard. It’s been a tremendous season for me with the Delhi Capitals, both on and off the field, and I truly believe that our team can win the trophy,” Rabada said. Delhi Capitals qualified for the IPL playoffs for the first time after six years.Kagiso Rabada picked up 4/21 in the game against Royal Challengers Bangalore.Delhi Capitals square off against Rajasthan Royals in their final league game.last_img read more

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El-Clasico:  A Game Like   Never Before

first_imgThe Spanish champions had a bright start to the league but a poor run of form saw them overtaken by the European Champions. Madrid have a comfortable six-point cushion at the top of the La Liga table with each team playing 13 games apiece.Catalan coach, Luis Enrique, laid special stress on the high-voltage match, stating that the fixture was a must-win game for them if they plan to stay in contention for the La Liga crown before the teams go into the winter break. Zinedine Zidane’s side remain unbeaten in the league, drawing three and winning 10 and the Frenchman would not want these statistics to change against Barcelona today.Another highlight of the match, and perhaps the most important, is the fact that Argentine Lionel Messi and Portuguese Cristiano Ronaldo will once again feature against each other at the Nou camp. The duo, who have nine Ballon d’Or titles between them, are widely regarded the best players in the history of the game and both of them are coming into the game hitting a good run of form for both club and country.Messi had a perfect start to the season which was capped off by brilliant performances for his national team in the World Cup qualifiers, while Ronaldo started the season slow, but picked up his pace by scoring five goals in his last two league games to be the top goal scorer of the league with 10 goals.Interestingly, Barcelona have no new injury setbacks and will have Messi, Neymar and Luis Suarez all fit for selection today. Club captain Andres Iniesta who was  ruled out for six to eight weeks in late October after suffering knee ligament damage against Valencia had been certified fit for the El Clasico, but whether the Catalan coach will risk the Spaniard maestro to play a full 90 minutes is what is left to be seen.Turkish international, Arda Turan, who missed the last clash against Sociedad due to fever will also be available for selection while defender Samuel Umtiti will be unavailable owing to a hamstring injury he picked up during the international break.Meanwhile, Los Blancos have been incredibly unlucky when it comes to injury to their key players as a number of starters are out for a long period of time owing to major injury concerns. Welsh winger Gareth Bale  suffered a  traumatic dislocation of the perineal tendons against Sporting Lisbon penultimate week, which ruled him out for a period of at least four months, while influential midfielder Toni Kroos will also miss the clash owing to a broken metatarsal he suffered against Leganes.Also on the injury list is substitute Alvaro Morata who had proved quite effective for Zidane coming off the bench. There have been concerns over defensive midfielder Casemiro, who was out for a considerable number of times, before returning to training. Whether the Brazilian midfielder will be fielded by Zidane remain to be seen.The Brazilian midfielder played the full 90 minutes against Cultural Leonesa on his return from a leg injury that had kept him sidelined since September and Zidane said he could play against Barcelona if needed even though there are only three rest days between the two fixtures.“Casemiro felt fine. He struggled a little bit early on but that’s to be expected after almost two months out. It was important for him to play a full match and he’s happy and well prepared. When you look at the way we’ve played in midfield in our recent games, we’ve been strong. Casemiro has come back; he’s fit and ready to help the team. He’s with us and we’ll have to see what we’re going to do on Saturday, but we’re going to need everyone,” he said.Zidane however played down the significance of the encounter, saying the outcome of the match would not be “decisive”. Speaking after Real’s 6-1 win over Cultural Leonesa in the second leg of the Copa del Rey round of 32, Zidane said the result of the first El Clasico of the season will not decide the title race.“We’re not thinking about the consequences of the result, only about preparing well for the game. Whatever happens it won’t be decisive. It’s a good match against a great opponent who will certainly make it difficult for us and that’s all there is to it, but it won’t be decisive, not at all,” the Frenchman told Real Madrid’s official website.Barcelona vs Real Madrid  Venue: Camp Nou, Barcelona, SpainReferee: Carlos Clos GomézShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram When Barcelona and Real Madrid meet, the whole world stops. Few rivalries are so strong without geography, and while it feels strange to class this game as a derby, it is a clash in almost every sense of the word. In Spain, there is real bad blood between the two cities, Barcelona and Madrid, thanks to former leader of the country, General Franco’s treatment of Catalonia. To this day, some in the region campaign for independence from the rest of the nation, meaning every time these clubs lock horns it is a tasty encounter. On the pitch, traditionally, the two clubs represent different ideologies. Barcelona have become known for religiously sticking to one style of football, breeding talent after talent from their youth academy, while Real have portrayed what they are, the Royal’s club, by signing the very best players for the highest transfer fees.The individual rivalry between Lionel Messi and Cristiano Ronaldo also follows that pattern, with Ronaldo moving to Madrid for a previous world-record $90million and Messi working his way up through the system at the Camp Nou. As they prepare to face off again today, it is Madrid who go in as favourites, but Barcelona can never be counted out The most awaited match in modern day football is here as Barcelona is all set to take on arch rivals, Real Madrid, at the Nou camp today and this mouth-watering fixture is already slated to become the most watched game of the year. Madrid will travel to the Catalan on the back of a partially convincing victory against Sporting Gijon while Luis Enrique’s side will come into the fixture with an incredibly unsatisfactory display of football in a 1-1 draw against Real Sociedad, a match which could have well gotten out of their hands.last_img read more

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Government rejects calls for new racing body

first_img Share Julie Harrington takes the reins as BHA CEO August 11, 2020 The government has issued its support to the British Horseracing Authority (BHA), after a petition lobbied for the group to cease responsibility of racehorse welfare. The e-petition, which was signed by more than 105,000 signatures, led to the issue being debated in Westminster. However, the government used the debate to praise of the work of the BHA, before confirming that welfare would continue to be at the top of the agenda moving forward. David Rutley,Secretary of State at the Department for the Environment, Food and Rural Affairs, underlined the department’s support for the BHA by stating: “We must do all that we can to reduce the fatalities whilst racing on the track.“With the work they have done to further reduce the number of fatalities at racetracks the government does not see a need to take a different approach by creating a new body.“That does not mean that the BHA should not continue to be held to account and they should of course have to continue to explain what they do in an open and transparent way.”In spite of lauding British horseracing, describing it as a “national success story”, Labour’s spokesman Luke Pollard affirmed his belief that there is room for improvement within the sport. “We want it to work harder, faster and smarter to improve equine welfare and set transparent targets that can be independently verified,” he said.“If Labour was in government, I would be demanding a greater set of targets for the industry looking at how we can set out how horse deaths involved with horseracing can be reduced.” BHA chief executive Nick Rust commented: “We are pleased that government has today reaffirmed its support for the BHA as racing’s independent regulator for equine welfare.“Our track record of working responsibly to make racing safer for our horses – and our constructive relationship with welfare groups such as the RSPCA and World Horse Welfare – was fully acknowledged.“All those who spoke were united with us in a desire to see further improvements. We share the ambitions expressed by MPs from all parties to make racing even safer.“We encourage all those working in our sport to improve welfare standards to read carefully the contributions to the debate as we develop more ambitious plans for the future.” StumbleUpon Related Articles UK Racing pushes for drastic levy reforms as deep recession looms August 25, 2020 Share Submit Scottish racing to resume from 22 June June 19, 2020last_img read more

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Ex Dodgers hitting coach Mark McGwire joins Padres staff

first_imgSAN DIEGO — One-time home run king Mark McGwire has been named bench coach of the San Diego Padres.McGwire’s hiring was announced Wednesday by new manager Andy Green.McGwire had been hitting coach of the Los Angeles Dodgers for the last three seasons.In 2010, McGwire admitted he used steroids when he broke baseball’s home run record in 1998. Even so, McGwire asserted he would have hit home runs even without performance-enhancing drugs. Also new to the Padres are hitting coach Alan Zinter, first base coach Tarrik Brock, bullpen coach Doug Bochtler and Eddie Rodriguez, who will serve in a variety of roles.Returning are pitching coach Darren Balsley and third base coach Glenn Hoffman. Green replaced interim manager Pat Murphy, who in turn replaced Bud Black, who was fired in mid-June. Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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