Global Trends Indicate a Coal Comeback Is Unlikely

first_imgGlobal Trends Indicate a Coal Comeback Is Unlikely FacebookTwitterLinkedInEmailPrint分享Financial Times:President Donald Trump has pledged to “put our miners back to work” in the US, promising to return high-paying jobs to rundown rural areas of states such as Pennsylvania that brought him victory in last year’s election. Trends in coal markets, both in the US and internationally, suggest that will be an uphill battle.In 2013, the US Energy Information Administration projected that world coal demand would rise 39 per cent by 2040. Now it is expecting growth of just 1 per cent. If not quite “Peak Coal”, it certainly looks like an extended plateau. Projections of energy demand even a few years into the future can never be relied on: there are too many uncertainties in how markets and technology will evolve, and the EIA itself makes clear that this scenario is just one among many possible outcomes. Even so, the latest projection, from the EIA International Energy Outlook 2017, published last week, shows that the promise of eternally rising world demand for coal, which was the consensus expectation just a few years ago, can no longer be taken for granted.China dominates world coal markets, accounting for more than half of total global demand. The EIA believes that Chinese coal consumption may now be on a declining trend, with industrial use for steam and steelmaking already having peaked, and demand for power generation likely to peak around 2023. With demand also in long-term decline in the US and in Europe, growth in some emerging economies, led by India, is not enough to raise total coal use overall.More: ($) The future of coal in seven chartslast_img read more

Roslyn Crash Leaves Motorcyclist Dead

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 28-year-old Queens man was killed when his motorcycle was involved in a crash with an SUV in Roslyn on Thursday evening.Nassau County police said the motorcyclist was riding a Honda motorcycle northbound on Roslyn Road when he was involved in a collision with a southbound GMC at 7 p.m.The victim was pronounced dead at the scene. His identity wasn’t immediately released.Homicide Squad detectives are continuing the investigation. They impounded both vehicles and did not charge the 90-year-old driver.last_img

Fed aims ‘bazooka’ at coronavirus to backstop economy

first_img“It’s their bazooka moment,” said Russell Price, chief economist at Ameriprise Financial Services in Troy, Michigan. “It’s their ‘we’ll do whatever it takes’ moment which should be a sign to financial markets and investors that the Fed will provide any and all liquidity necessary to support the economy through this period.”Under the new programs, the Fed will lend against student loans, credit card loans, and US government backed-loans to small businesses, and buy bonds of larger employers and make loans to them in what amounts to four years of bridge financing.Nearly a third of the US population is subject to new rules that close non-essential businesses and discourage people from leaving their homes in order to slow the spread of the virus. Hundreds of thousands of people have already filed for unemployment insurance in California alone, the state’s governor said at the weekend, and many analysts are projecting declines in economic output next quarter that are far worse than the steepest drop during the Great Recession.A Reuters poll of economists estimated initial jobless claims rose an astounding 1 million last week, and some believe the number could be higher. The US Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the “severe disruptions” to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.In a series of actions the Fed agreed to historical measures that would see it for the first time back the purchases of corporate bonds and direct loans to companies, expand its asset holding by as much as needed to stabilize financial markets, and roll out “soon” a program to get credit to small and medium-sized business.It marks both a massive intervention into the US economy by the central bank, and an quickly conceived move to adapt to the fact that the US economy may need to shut its doors to keep people safe. Stocks initially rose, then fell after the Fed announcement. US Treasury yields ticked higher.The move helped lower risk premiums in key corporate credit markets that have been disrupted in the outbreak, analysts said.In a statement the Fed said the effort, approved unanimously by members of the Federal Open Market Committee, was taken because “it has become clear that our economy will face severe disruptions” as a result of the health crisis.“This is the Fed’s all-out effort to ensure that the business sector and households can continue on,” said Sam Bullard, senior economist for Wells Fargo Securities.“The Fed is doing everything they can” to keep markets functioning smoothly after economic activity was disrupted, he said “We take this as a huge easing.”Republicans and Democrats failed over the weekend to reach a deal on a $1 trillion-plus coronavirus stimulus package.“We’ve known that the magnitude of help needed has been massive and growing for days now,” said Mark Hamrick, senior economic analyst of Bankrate. “The Federal Reserve continues to do all it can to keep markets operating. Now, the spotlight is on elected leaders to do their jobs as well.”Topics :last_img read more

Papuan armed group accused of shooting COVID-19 team members

first_imgMilitary and police personnel belonging to the Nemangkawi task force in Intan Jaya regency, Papua, are on a manhunt for an armed group that purportedly shot members of a local COVID-19 response team.As reported by Antara News Agency, the Nemangkawi joint task force released a statement on Saturday saying an armed group had shot two health workers affiliated with the local COVID-19 task force in Wandai district, Intan Jaya regency, on Friday at 4:30 p.m. local time.The two medical workers – identified as Amalek Bagau, 30, and Eniko Somou, 39 – were shot while delivering medical supplies to a remote area in Intan Jaya regency. The Nemangkawi task force, with the assistance of the Intan Jaya Police, managed to locate and evacuate the victims and transferred them to the Nabire General Hospital on Saturday morning, according to the statement.Read also: OPM says TNI, police shot medical workers in PapuaPapua Police spokesperson Sr. Comr. AM Kamal said Amalek had survived the incident, but was in critical condition, while Eniko had died from his wounds.“It took us about five hours to arrive at the crime scene,” Kamal said, citing difficulties in navigating the steep terrain.The case is the latest in a recent string of violence that has resulted in the deaths of civilians in the region.In April, two young Papuans, Eden Armando Bebari and Ronny Wandik, were allegedly shot to death by security forces in Mimika regency after being mistaken for members of an armed separatist group. A week before that, New Zealander Graeme Thomas Wall, an employee of gold and copper mining company PT Freeport Indonesia, was killed by gunmen in the area. (rfa)Topics :last_img read more

Area Boys And Girls Basketball Scores (12-15)

first_imgArea Boys And Girls Basketball Scores.Thursday  (12-15)Boys Scores.Milan  50     Batesville  41Milan Wins JV Game 50-37East Central  73     South Dearborn  53Girls Scores.Milan  63     Rising Sun  63North Decatur  69     Waldron  62Triton Central  47     Hauser  36last_img

Guptill screamer helps keep Kings XI Punjab alive

first_imgMARTIN Guptill took one of the all-time great IPL catches before Kings XI Punjab fought off a potential record chase to keep their play-off hopes alive with a stunning seven-run win over Mumbai Indians at the Wankhede Stadium.Kings XI needed to win at the iconic venue to stay in the play-off hunt and Wriddhiman Saha’s magnificent 93 not out, after being promoted to opener, set the tone.Guptill (36 off 18 balls) and captain Glenn Maxwell (47 off 21) provided explosive assistance to the wicketkeeper as Kings XI thundered their way to a massive 230-3.Lendl Simmons looked like mounting a response in kind by smashing five fours and four sixes for 59 runs before he was caught on the long-on boundary one-handed by a flying Guptill to wrest momentum back Kings XI’s way.And although Kieron Pollard (50 not out off 24) and Hardik Pandya (30 off 12) threatened something truly great late on, the visitors clung on to move within a point of fourth-placed Sunrisers Hyderabad with one round of group games to go.The West Indian almost outshone Saha, but the India international’s effort was ultimately a match-winner.Saha and Guptill brought up the Kings XI fifty in just 22 balls and the glovesman kept the pedal to the floor once Maxwell joined him at the crease.The Australian took Harbhajan Singh for three sixes in a brutal opening over from the veteran spinner, but was bowled just shy of a half-century, attempting to flick Jasprit Bumrah behind square.Shaun Marsh (25) and Axar Patel (19 not out) gave Saha able partnership as Kings XI racked up the highest total of the season, but Mumbai returned in kind through Simmons’ masterful innings.Simmons and Parthiv Patel (38) put on 99 for the opening wicket, but a crucially sticky union between Rohit Sharma (five off seven) and Nitish Rana (12 off 12) that added just 13 runs in 15 deliveries ultimately proved costly.Pollard did his best to yank the contest back as he and Hardik smashed nine maximums between them, while Karn Sharma’s six-ball 19 helped take things to the last over.There was controversy as Pollard appeared to deliberately run short as Maxwell closed in on the ball in the deep, getting back on strike at the cost of a run before belting the next delivery over midwicket for six runs.But Mohit Sharma (2-57) kept his head to limit the powerful batsman’s angles and keep Kings XI alive. (Omnisport)last_img read more