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

Read more →

The Floodgates Are Open

first_imgThe sirens ring out. Signal lights flash on top of signs that read “water levels may rise without warning.” In a matter of minutes, the dam opens, and a river that has been dormant for the majority of the year springs to life again.Even though many of the streams in the Southeast have been dewatered for hydroelectric power, American Whitewater (AW) and a number of other river preservation groups have worked to secure recreational releases on the best of these rivers. Paddlers, anglers, hikers, and swimmers can once again enjoy their beauty and carve into their currents. It isn’t surprising that some of the best whitewater festivals in the country occur with Appalachian rivers as their focal points.No paddler’s calendar would be complete without Gauley Fest in Summersville, W.Va. Over 5,000 boaters flock to the Gauley River and Summersville High School fairgrounds. This event injects over $1 million into the local economy in one weekend. The days are filled with class V whitewater, and the nights sometimes enter the misadventure and debauchery categories.One year, I traveled up to Gauley Fest with some non-boaters. One girl had never even seen moving water in her life, but in my youthful optimism, I promised to take her down the class V Upper Gauley in a two-person kayak. She must have weighed all of 110 pounds soaking wet, so how hard could it be, right?This poor girl had no idea what she had gotten herself into. Before she knew it, she was being pummeled by massive waves and holes of rapids like Initiation, Pillow Rock, Iron Ring, and Sweets Falls. She was in the front of the boat with her paddle flailing helplessly, while I guided us from the back. Every time a wall of whitewater hit us, she would absorb the entire impact of our momentum and be plastered back on the boat. She seemed to enjoy the adventure, but I don’t think she’s been on whitewater again since.Gauley Fest evenings are nothing short of legendary. Industry companies host kegs, boat giveaways, sumo wrestling, karaoke, and various other attractions to bring people to their respective booths, and things unravel quickly due to the fact that everyone is camping only feet away. One year, someone made the mistake of bringing boxing gloves. It started off in good fun, with friendly jousting and nobody getting too serious, but before long the big guys of the party had been alerted to the developing single-elimination boxing tournament, and things went south. Several knockouts occurred, and the shenanigans were eventually shut down. Another time, one of the paddling companies announced that it was going to be giving away a free kayak to the person who could catch a greased pig. I myself have fond (albeit hazy) memories of somehow getting into an unlocked Porsche 911 Turbo S late at night, and pretending that I was Mario Andretti in the parked supercar.Beyond Gauley Fest, there are other events in the community that epitomize the outdoor community’s camaraderie. One is a biathlon race in Asheville called Jerry’s Baddle (Bike + Paddle). I participated in the first Baddle in 2006. After an adrenaline and endorphin-fueled day of intense racing in gorgeous weather, competitors gathered afterward to meet the guy whom we had been racing for all day: Jerry Beckwith. Jerry was an avid kayaker and biker who had been combatting ALS, or Lou Gehrig’s disease. He couldn’t speak, but his smile radiated the happiness and appreciation that he had towards everyone for showing up to support him.  As Jerry’s wife read the words of his letter, there wasn’t a dry eye in the crowd. Jerry reflected on the beauties and subtleties of his home river, the Green. And the many memories that he had with great friends there. His letter concluded: “I feel like the luckiest man on Earth. Certainly not because my body is slowly being imprisoned by ALS, but because I am blessed to have a huge number of the truest, most loyal, and compassionate friends anyone could hope for.”Jerry’s words were very powerful to me in that moment, but they also defined the exceptional group of people that I had managed to surround myself with both at the event that day and in my life. These communities are comprised of passionate, generous, fun-loving individuals who truly “suck the marrow out of life.” I smiled through the tears and realized that if I was in the same situation as him, I could say the same thing.Jerry’s fight with ALS ended two weeks after that very first race in 2006, but the event lives on. Once a year in late April, paddlers and bikers converge on Saluda, N.C. and push their own limits to honor a lost friend. These festival-forged friendships are the reason that the Southern Appalachians are home to one of the best outdoor communities in the world.If you are a paddler, make it a point to be there when those sirens go off, and the rivers come back to life. •Best Paddling FestivalsTallulah FestivalApril 13-15, 2013     Tallulah Falls, GA.NOC Demo Days & ShootoutApril 2013     Bryson City, NCJerry’s BaddleApril 2013     Saluda, NCjerrysbaddle.orgCheat FestMay 5, 2012     Albright, W.Va.cheat.orgDominion RiverRock FestivalMay 18-20, 2012     Richmond, VA.dominionriverrock.comPotomac FestTBA (usually around June 25)     Great Falls, MD.potomacfest.comGauley FestSeptember 14-16, 2012     Summersville, W.VA.americanwhitewater.orgNOC Guest Appreciation FestivalSeptember 28-30, 2012Bryson City, N.C.noc.com For a full listing of festivals, click here!last_img read more

Read more →

Peru and Ecuador Strenghten Their Humanitarian Demining Capabilities

first_imgBy Julieta Pelcastre/Diálogo December 11, 2017 A group of nine members of the Peruvian Army and three officers from the Ecuadorian Army’s 68th Engineering Battalion Cotopaxi attended the Information Management System for Mine Action (IMSMA) course. The computerized course was taught at the Peruvian Army Humanitarian Demining School in Chiclayo, October 23rd–27th, 2017. “IMSMA is not a closed system. We can recreate our own [pages] to collect, systematize, and update all information in the data registry for danger areas that were swept through,” Peruvian Army First Lieutenant Joanna Herrera, IMSMA system chief, told Diálogo. “It’s like a tree, whose branches are fed until we get to the top [the administrator], the person who provides the right information for decision-making at the local and national levels.” The United Nations endorses IMSMA as an information system for mine action data collection, information analysis, and program management. The Geneva International Centre for Humanitarian Demining developed the information system to help make mine action safer, faster, and more efficient. The software provides a geographic view of the data so that project results are measurable and easy to manage. IMSMA allows the user to be certain of mines clearance in countries party to the Ottawa Convention on the prohibition of the use, stockpiling, production, transfer, and destruction of anti-personnel mines. The knowledge Peruvian and Ecuadorian service members gained in information management enhances other training and specialization program initiatives for similar demining procedures. According to IMSMA, the system is installed in 47 nations. It is the primary software in mine action around the world. Short-term goal Peru and Ecuador actively advocate South America as a mine-free territory. “This is evidence that we remain firmly committed to move the process forward,” Efraín Baus, president of Ecuador’s National Center for Humanitarian Demining, stressed in a press release. “Both nations want to change together to establish a zone free of anti-personnel mines along their shared border,” Martha Lizárraga, director of Defense and Security for the Peruvian Ministry of Foreign Affairs, said. The Ecuadorian Army Corps of Engineers runs the Humanitarian Demining Unit that cleared 80 percent of the mines buried on Ecuador’s border. According to the Ecuadorian Ministry of Defense, they expect to clear the remaining 20 percent by December 2022. In 2017, Ecuadorian units destroyed close to 12,000 anti-personnel mines, 74 anti-tank mines, and the remnants of 27 war explosives in the border provinces of El Oro, Loja, Morona, Zamora, and Pastaza. Squadrons used manual, mechanical, and canine demining techniques for the work. The Peruvian Army’s Directorate General of Humanitarian Demining (DIGEDEHUME, per its Spanish acronym), in partnership with the Peruvian Center for Anti-personnel Mine Action, removed 790 mines in 2017. From January 2009 to December 2015, Peruvian service members destroyed more than 18,200 anti-personnel mines. Authorities estimate that more than 6,300 explosive devices remain buried in the departments of Amazonas, Cajamarca, and Loreto. Peru is stepping up its efforts to finish demining the entire country by 2024. Beneficial initiatives “The training for both countries’ demining personnel, the emergency medical evacuation route to Ecuador for Peruvian deminers, and the joint annual humanitarian demining operations program are beneficial initiatives that drive our efforts to complete this work,” Peruvian Army Colonel Guillermo Portillo Carrillo, executive director of DIGEDEHUME, told Diálogo. “It’s very satisfying to exchange knowledge and experiences with our Ecuadorian counterparts to strengthen security on our shared border to benefit border populations,” 1st Lt. Herrera said. Peru and Ecuador participate in reciprocal training exercises, including the Basic Demining Program, Humanitarian Demining Management, and Explosives Destruction and Battlefield Clearance. Since 2014, the Peruvian Army trained 100 Ecuadorian soldiers in various humanitarian demining programs. “They come to hone their techniques. It’s a kind of exchange that results in the same doctrine taught [by the U.S. Army in 2003],” Col. Portillo said. The exchange of information on danger areas has also been an important tool to plan operations between Peru and Ecuador. Both nations’ armed forces share maps and diagrams to locate buried explosive devices with maximum speed and accuracy. “When operating in a danger area, the information is not accurate at first, because 22 years have gone by since the explosive devices were planted there. The ground shifted,” Col. Portillo said. The tools and joint efforts facilitate humanitarian demining operations on both sides of the border. “This work will continue until the last mine is removed,” Col. Portillo concluded. Peru and Ecuador plan to conclude the destruction of mines within one square kilometer of Tiwintza, on the border between the two countries, in 2018.last_img read more

Read more →

Long Island Weather: Nor’easter to Bring 2-4 Inches of Snow to East End

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A nor’easter is forecast to coat the South Fork in up to 5 inches of snow, but the rest of Long Island will see just a dusting Tuesday night into Wednesday morning.There is a small chance that up to 6 inches could fall on parts of the East End once the flakes start falling after 8 p.m. Tuesday, giving way to a cold, snowy and gusty Wednesday morning rush-hour commute, according to Upton-based National Weather Service meteorologists. But 2 to 4 inches is widely expected out east.Temperatures will hit a high of 39 during the day Tuesday before dropping down to a low of 28 after sundown when the storm moves in. The snow is expected to continue through about 8 a.m. Wednesday, with winds up to 35 or 40 mph.Once the storm breaks, temps are expected to stay in the high 30s Thursday before warming up to the 50s this weekend, although there is a chance of showers Friday and rain Saturday.last_img read more

Read more →

The 4 worst office personalities

first_img 75SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Wendy Moody Wendy Moody is a Senior Editor with CUInsight.com. Wendy works with the editorial team to help edit the content including current news, press releases, jobs and events. She keeps … Web: www.cuinsight.com Details The InstigatorThere’s always that one person who loves to stir up trouble. What is it about drama that they love so much? The root of the problem lies in the fact that this employee has way too much free time. Maybe recommending them to your boss for a certain new project may cut down on some office gossip.The Suck-UpThis employee will laugh at every single joke your boss makes. The suck-up has a constant yearning to be liked and will do anything to remain on your boss’ good side. In our childhoods, this person was referred to as the “teacher’s pet.”The Constant CompetitorSome people are just more naturally competitive than others, and that’s okay. But when certain coworkers take it too far, it can be difficult to handle. The constant competitor is always aggressive and will do whatever it takes to “win,” even if that means throwing you under the buss.The SlackerFor some reason some individuals have the ability to literally get away with anything. Whether it’s because they have a charismatic demeanor or just find a way to get others to pick up the slack, this personality type is known for their laziness. Just because they behave a certain way doesn’t mean you should, so make sure to not let their slacking off affect your job performance.last_img read more

Read more →

Property jobs reshuffle following Byers’ exit

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Read more →

Agents home in

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Read more →

Red Sox ace Chris Sale on early season struggles: ‘I just flat-out stink’

first_imgMORE: Watch ‘ChangeUp,’ a new MLB live whiparound show on DAZN“I’ve got to find a way to pitch better,” Sale told reporters, via the New York Post. “This is flat-out embarrassing. For my family, for my team, for our fans. This is as bad as it gets.”I’m supposed to pitch into the sixth, seventh, eighth inning, finish games and stuff like that, save our bullpen, cut it off when we’re losing and keep winning streaks going. That’s not who I’ve been.”Chris Sale is making no excuses at this point. Here’s the Red Sox ace after their 8-0 loss to the Yankees (@jordansfurn) pic.twitter.com/3lABeZmu9L— NBC Sports Boston (@NBCSBoston) April 17, 2019Sale called his start this season one of the worst of his 10-year MLB career.“It’s as frustrated as I’ve ever been on a baseball field,” Sale said. “It sucks. I’m not gonna sugarcoat it. I flat-out stink right now. I don’t know what it is. When you’re going good, it’s good. When you’re going bad, it’s pretty bad.” Red Sox ace Chris Sale didn’t hold back when talking about his performance so far this season, calling it “flat-out embarrassing.” Sale’s comments came after Boston fell Tuesday to the Yankees 8-0. His season ERA dropped to 8.50 as he suffered his fourth loss of the year, which matches his total for the entire 2018 season. Manager Alex Cora, however, didn’t seem too concerned about Sale’s performance. He was optimistic Sale would return to form sooner rather than later.”I don’t want to say it’s a work in progress, because we’re not here to build up,” Cora said. “I’m not going to be surprised if, in his next outing, he’s right where we need him to be. … He’s very close to the ‘real’ Chris Sale.”The defending World Series champion Red Sox are now last in the AL East with a 6-12 record, and will face the Yankees again Wednesday at 6:35 p.m. ET.last_img read more

Read more →

Bomber errors come back to haunt squad in Grand Forks

first_imgBy The Nelson Daily SportsThe L.V. Rogers Bombers started slow but finished with a bang, edging Selkirk Storm of Kimberley 11-10 at the Wolves High School Invitational Baseball Tournament Saturday in Grand Forks.John Barabonoff, surrendering four runs while giving up three walks and fanning two batters, was stellar in relief, pitching a one-hitter, to lead the Bombers to the narrow win over the Storm.“The team played shorthanded again with hockey and the music festival taking players (away),” said Bomber head coach Ron Mace after finishing the weekend with a 1-2 record.Daine Olenek started the game and went 3 2/3 innings, allowing six runs on six hits and four strikeouts. LVR committed five errors.LVR opened the tournament losing a pair of games Friday, 9-3 to the host Wolves and 14-4 to the Storm.Connor Bojey struggled on the mound for LVR, giving up all nine runs — only one earned. Bojey finished the game with two hits, three walks and three strikeouts.Eric Madore pitched the final inning in relief to retired the Wolves.LVR had five different players knock out hits, including Mateo Pipe with his first hit of the season.The Bombers then fell victim to the Storm in the opening game between the two clubs.Cole Laughton started the game and took the loss for LVR. Barabonoff once again pitched in relief.The pitchers received no help from the rest of the team as LVR committed whopping 10 errors.Pipe, Brandon Hufty, Chris Mahe and Clay Rickaby all had hits for LVR.Wednesday, LVR travels to Grand Forks to play a doubleheader against the Wolves.The Wolves return to face LVR at Queen Elizabeth Park Tuesday, May 10 with the first pitch at noon. [email protected]last_img read more

Read more →

BAFFERT’S FIVE PALMS MUCH BEST IN COMEBACK, IDLE SINCE DEC. 2013, HE WINS $60,000 ALOWANCE BY 4 ½ LENGTHS WHILE GETTING SEVEN FURLONGS IN 1:22.29 UNDER GARCIA

first_img–30– ARCADIA, Calif. (March 26, 2015)–Comebacking Five Palms returned to action in style on Thursday, as he took command mid-way around the far turn and sped to an impressive 4 ½ length win under Martin Garcia while covering seven furlongs in 1:22.29. Trained by Bob Baffert, the 5-year-old horse by Unbridled’s Song had been idle since winning a first condition allowance at Santa Anita on Dec. 26, 2013.“Fifteen months off, he attacked and he ran strong today,” said Baffert assistant Jim Barnes. “We can do it. If anybody can bring a horse back after that kind of a layoff, we can.”Indeed they can. Off at even money in a field of seven older horses, Five Palms paid $4.00, $3.40 and $2.40. Owned by Karl Watson, Mike Pegram and Paul Weitman, Five Palms notched his third win from four starts and with the winner’s share of $36,000, increased his earnings to $100,680.“He was really hot in the post parade, but once we got over to the backside, he was really relaxed,” said Garcia. “I just sat chilly and when Raised a Secret (ridden by Agapito Delgadillo) got close to me at the quarter pole, I asked my horse to go and he just took off. He’s a really good horse.”Raised a Secret, who sat third behind early pacesetter Macro Access and Five Palms, was no match for the winner the final eighth of a mile and finished second, one length in front of Airfoil. Off at 9-2, Raised a Secret paid $4.60 and $3.40.Ridden by Tyler Baze, Airfoil closed from well off the pace to finish third, 4 ½ lengths in front of Solid Wager. Off at 9-2, Airfoil paid $2.40 to show.First post time at Santa Anita on Friday is at 1 p.m. Admission gates open at 11 a.m.last_img read more

Read more →