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D'coda Dcoda

BC First Nations Unite To Ban Export Of Tar Sands Oil [07Dec11] - 0 views

  • For the first time in Canadian history, First Nations, whose territory encompasses the entire coastline of British Columbia, have publicly united to oppose the transport of tar sands crude oil through their land. Over 60 nations have signed the Save the Fraser Declaration, which bans tar sands oil pipelines throughout the Fraser River watershed, an area that was never ceded to the Canadian government, and therefore not legally under the government’s control. “North or south, it makes no difference. First Nations from every corner of BC are saying absolutely no tar sands pipelines or tankers in our territories,” said Chief Jackie Thomas of Saik’uz First Nation, a member of the Yinka Dene Alliance. “We have banned oil pipelines and tankers using our laws, and we will defend our decision using all the means at our disposal.” The First Nations’ refusal to allow tar sands oil extraction or transport through their would make it legally impossible for the Canadian government to move forward with many high price oil production projects. Monday’s announcement – on the first anniversary of the Save the Fraser Declaration – comes in response to recent calls from the Harper government and oil executives to push through pipeline and tanker projects against the wishes of British Columbians and First Nations.
Dan R.D.

More Green Madness On the Plains [25Aug11] - 0 views

  • The proposed Keystone XL pipeline will carry oil from tar sands in Canada across the entire midwestern United States to Port Arthur, Texas. It could eventually transport 900,000 barrels of oil a day and without government funding of any kind has the potential to create 20,000 jobs starting early in 2012. The greens want President Obama to kill it of course; the political blindness and the wishful thinking that so frequently vitiates green policy proposals is fully on display.
  • I will only point to a study by the Canadian Association of Petroleum Producers: “Oil sands crude is six per cent more GHG intensive than the U.S. crude supply average on a wells-to-wheels basis.” Only 6 percent. Yes, that study comes from the oil industry; the green studies and the oil company studies are both suspect and need outside review.
  • the Washington Post want to throw the greens under the bus on this one. “Tar sands crude is not appealing; it is low-grade, it is hard to extract, it is difficult to refine and it produces a lot of carbon emissions. But if it is to be burned anyway, there’s little reason for America to reject it, as long as Keystone XL can transport it across the plains safely.”
D'coda Dcoda

The Death of Nuclear Power: The Five Global Energy Moves to Make Now [07Jun11] - 0 views

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  • Nuclear power was gaining a lot of momentum prior to the terrible disaster at Japan's Fukushima powerplant in March.
  • But since then, atomic energy has come under increased scrutiny and once again drawn the ire of environmentalists who were just warming up to its carbon-free emissions.
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  • The German government's decision to close all of its existing nuclear reactors by 2022 shows that this shift in sentiment is gaining traction. And it increases the likelihood that the nuclear-powerplant building boom that had seemed at hand will be set back. Without a doubt, this new reality will lead to global energy shortages and much-higher energy costs.But for us as investors, the real issue is this: Which sectors will step up to alleviate the shortfall resulting from the inevitable disappearance of nuclear power?
  • As the recent development in Germany so clearly illustrates, one key difficulty about major energy decisions is that far too many are political in nature.
  • Too often, rational scientific analysis and cost-benefit analyses are ignored as hard-line environmentalists push their own agendas. Many of the environmentalists' objections are valid - at least as far as they go. But more and more, those objections seem to include every source of energy that actually works.
  • Windmills are objectionable because they look ugly and kill birds. Geothermal energy is objectionable because it causes earthquakes. Even solar energy is objectionable because of the vast acreages of land required to house the solar panels
  • Replacing Nuclear Power Figuring out which energy sources will offset the decline in nuclear power output requires three calculations:
  • First, a calculation of the cost of an energy source - as it now exists - in its economically most practicable uses. However, much as we may like solar power, we are not about to get solar-powered automobiles; likewise, oil-fueled power stations are inefficient on many grounds.
  • Second, a calculation that demonstrates whether the cost of that energy source is likely to increase or decline. With oil and hydro-electric power, for instance, the cost is likely to increase: The richest oil wells have been tapped and the best rivers have been dammed. With solar, on the other hand, the cost could decline, given how quickly the technology is advancing.
  • And third, an estimate that includes our best guess as to whether hard-line environmentalists will win or lose in their attempt to prevent its use.
  • On nuclear energy, the environmentalists appear to have won - at least for the time being. Their victory probably extends to fusion power, if that ever becomes economical. Conversely, their battles against wind and solar power are futile, as there are no scary disaster scenarios involved.
  • I regard the German decision to abandon nuclear power as foolish, and it should make us very cautious when investing in large-scale German manufacturers, which may be made uncompetitive by excessive power costs. But as an investor, I think it opens up a number of profit opportunities.
  • Actions To Take: Environmental concerns have chased investment away from nuclear energy - at least for the time being. For that reason the nuclear build-out that was just starting to gain momentum now is likely to stumble. As investors, we must look for energy sources that will most likely replace lost nuclear power output. They include:
  • Shale Gas: Potential damage to the environment caused by "fracking," which is the process by which shale gas is extracted, has not impeded this industry's growth. Natural gas has grown increasingly popular, as it is relatively cheap and clean, and readily abundant in the United States. A recent study by the Massachusetts Institute of Technology (MIT) suggests that natural gas will provide 40% of U.S. energy needs in the future, up from 20% today. You might look at Chesapeake Energy Corp. (NYSE:CHK), the largest leaseholder in Pennsylvania's Marcellus Shale, which is trading at a reasonable 9.5 times projected 2012 earnings.
  • Shale gas. Tar sands. And solar energy. Let's look at each of the three - and identify the best ways to play them
  • Tar Sands: The Athabasca tar sands in Canada contain more oil than the Middle East. And at an oil price of $100 per barrel, it is highly profitable to extract. Of course, extraction makes a huge mess of the local environment, but environmentalists seem to have lost that battle - reasonably enough, in view of the "energy security" implications of dependence on the Middle East. A play I like here is Cenovus Energy Inc. (NYSE: CVE). It's a purer Athabasca play than Suncor Energy Inc. (NYSE: SU), but it's currently pricey at 16.5 times projected 2012 earnings. Suncor's cheaper at only 11 times projected 2012 earnings - so take your pick
  • Solar Energy: Of the many new energy sources that have received so much taxpayer money in the last five years, solar is the one with real potential. Unlike with wind farms, where there is almost no opportunity for massive technological improvement or cost reduction, there is great potential upside with solar power: The technology and economics of solar panels and their manufacture is improving steadily. Indeed, solar power seems likely to be competitive as a source of electricity without subsidy sometime around 2016-2020, if energy prices stay high.
  • There are a number of ways to play this. You can select a solar-panel manufacturer like the Chinese JA Solar Holdings Co. Ltd. (Nasdaq ADR: JASO), or a rectifier producer like Power-One Inc. (Nasdaq: PWER). JA Solar is trading at a startling forward Price/Earnings (P/E) ratio of less than 5.0, mostly likely because of the Chinese accounting scandals, whereas Power-One is also cheap at less than seven times forward earnings and is U.S.-domiciled. Again, take your pick, depending on which risks you are comfortable with.
D'coda Dcoda

US Thirst for Fossil Fuels is Decimating Nature's Wildlife: Report [19Jan12] - 0 views

  • The day after the Obama administration rejected a proposal for the Keystone XL tar sands pipeline -- a move widely, if cautiously, applauded by environmental groups and advocates of renewable energy -- a new report highlights the destructive impact of fossil fuel consumption in the United States. The report, called Fueling Extinction: How Dirty Energy Drives Wildlife to the Brink, highlights the top 10 US species whose survival is most threatened by the development, extraction, transportation, and consumption of fossil fuels.
  • The report itself does not shy away from pointing its finger directly at the profit-driven aspect of the fossil fuel industry, nor its dependence on taxpayer-funded subsidies:
  • The animals (and one plant) highlighted by the group range from the relatively unknown and small Tan Riffleshell, a freshwater mussel found in only five rivers in the eastern US, to the large and majestic Bowhead Whale, believed to be among the oldest mammals on earth and the only whale that lives exclusively in arctic waters.  The other eight species examined in the report include: the Dunes Sagebrush Lizard, the Graham’s Penstemon (a wildflower), the Greater Sage Grouse, the Kemp’s Ridley Sea Turtle, the Kentucky Arrow Darter, the Spectacled Eider, the Whooping Crane, and the Wyoming Pocket Gopher. Receiving the 'activist's choice award' from the voting members was the Polar Bear, chosen because it was "the species they were most concerned about."
D'coda Dcoda

Uh oh, global warming loons: here comes Climategate II! - Telegraph Blogs - 0 views

  • Breaking news: two years after the Climategate, a further batch of emails has been leaked onto the internet by a person – or persons – unknown. And as before, they show the "scientists" at the heart of the Man-Made Global Warming industry in a most unflattering light. Michael Mann, Phil Jones, Ben Santer, Tom Wigley, Kevin Trenberth, Keith Briffa – all your favourite Climategate characters are here, once again caught red-handed in a series of emails exaggerating the extent of Anthropogenic Global Warming, while privately admitting to one another that the evidence is nowhere near as a strong as they'd like it to be. In other words, what these emails confirm is that the great man-made global warming scare is not about science but about political activism. This, it seems, is what motivated the whistleblower 'FOIA 2011' (or "thief", as the usual suspects at RealClimate will no doubt prefer to tar him or her) to go public.
  • As FOIA 2011 puts it when introducing the selected highlights, culled from a file of 220,000 emails: “Over 2.5 billion people live on less than $2 a day.” “Every day nearly 16.000 children die from hunger and related causes.” “One dollar can save a life” — the opposite must also be true. “Poverty is a death sentence.” “Nations must invest $37 trillion in energy technologies by 2030 to stabilize greenhouse gas emissions at sustainable levels.” Today’s decisions should be based on all the information we can get, not on hiding the decline. FOIA 2011 is right, of course. If you're going to bomb the global economy back to the dark ages with environmental tax and regulation, if you're going to favour costly, landscape-blighting, inefficient renewables over real, abundant, relatively cheap energy that works like shale gas and oil, if you're going to cause food riots and starvation in the developing world by giving over farmland (and rainforests) to biofuel production, then at the very least you it owe to the world to base your policies on sound, transparent, evidence-based science rather than on the politicised, disingenuous junk churned out by the charlatans at the Intergovernmental Panel on Climate Change (IPCC). You'll find the full taster menu of delights here at Tall Bloke's website. Shrub Niggurath is on the case too. As is the Air Vent.
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