Skip to main content

Home/ Yadkin Docs/ Group items tagged natural

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Yadkin River

Whose water is it anyway!? - 0 views

www.yesweekly.com/...whose-water-is-it-anyway_.html

water Alcoa Yadkin Commissioners Governor Legislators

shared by Yadkin River on 06 Dec 11 - No Cached
  • COALITION OF CITIZENS, POLITICIANS AND ENVIRONMENTALISTS BATTLE ALCOA TO RETURN THE YADKIN RIVER TO THE PEOPLE
  • “The conservation of our natural resources and their proper use constitute the fundamental problem which underlies almost every other problem of our national life,” Roosevelt told Congress in 1907.
  • Naujoks referred to Teddy Roosevelt’s well known opposition to corporate monopolies and his firm belief the nation’s natural resources belong to the people. Naujoks cited Roosevelt’s philosophy to highlight the disparity between the legendary president’s philosophy and FERC’s policies
  • ...33 more annotations...
  • Gov. Beverly Perdue officially came on board with the Yadkin River Coalition — a group of local businessmen, citizens and politicians who oppose Alcoa’s re-licensing efforts — last September and her influence has proved invaluable to the cause.
  • The governor’s office filed papers with the FERC “seeking return of the right to plan the use of the Yadkin River flows and the Yadkin hydroelectric project for the benefit of the people of North Carolina,” according to a press release
  • Recapturing the water rights to the Yadkin is essential to the health and well being of the citizens of the nearly 25 counties that comprise the Yadkin River Basin, Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • The Badin Works aluminum smelting plant did bring 1,000 jobs to the area after Alcoa applied for its water rights license in 1958. But Alcoa, a multi-billion dollar corporation and the world’s largest producer of aluminum, ceased operations at the plant in 2007. The plant employed only 377 people when it shut down, said Alcoa spokesman Gene Ellis.
  • One of the first legislators to take their side was NC Sen. Fletcher L. Hartsell Jr., who represents Cabarrus and Iredell counties. Hartsell came on board with the Yadkin River Coalition two years ago after meeting with Dick, Jim Nance, a former board member of the NC Department of Transportation, and Stanly County Commissioner Lindsey Dunevant at his legislative offices in Raleigh.
  • But after he studied the Federal Power Act, he became fascinated with the issue of Alcoa attempting to maintain its monopoly over the 38-mile stretch of the Yadkin. Convinced of the appropriateness of the coalition’s cause, Hartsell signed on and recruited fellow Republican state senator, Stan Bingham.
  • “As far as I’m concerned, Alcoa got the gold mine and we got the shaft,” Bingham said
  • “The little town of Denton is having to pay [Alcoa] for the use of the water coming down the Yadkin for drinking,” Bingham said. “The way that’s calculated is they charge because it’s a loss of power generation…. This whole thing was done many, many years ago, and a lot of people didn’t think about the people they were dealing with at the time.”
  • “Alcoa and others keep talking about it being a ‘taking’ [of property],” Hartsell said. “It’s not a taking; it’s not even close to it. All we’re asking Alcoa to do is to fulfill the obligations that were identified in 1958 that they agreed to.”
  • “They acknowledged when the license was up, they no longer had the right to use the property,” Hartsell explained. “We’re saying there needs to be an equivalency for the run of our river, and when I say ‘our,’ I mean everybody’s. It’s not a private entity. The feds and the state have had control of the run of the rivers since the beginning of the republic.” The language of the Federal Power Act includes a stipulation that the controlling entity, in this case Alcoa, must estimate the recapture value of the resource in the event it must surrender the rights to that resource, Hartsell said. “There is a statutory formula for how you calculate recapture and Alcoa computed it to be $24.2 million in 2006,” Hartsell said.
  • Yadkin River Trust Bil
  • The bill clearly outlines the three primary issues at stake — A) who controls the waters of the Yadkin for the next 50 years; B) the environmental issue related to the condition or quality of the water itself and the immediate environs; and C) the use of the electricity generated by the run of the river.
  • “[Alcoa] signed an agreement. We’re just asking them to live up to their own word,” he said. “The state of North Carolina intervened 50 years ago on Alcoa’s behalf to assist them to get a 50-year license and operate the plant at Badin, but conditions have changed dramatically. If they’re going to use it, what is the return to the people of the state on the state’s investment in the raw material, which is the water? That water is owned by the people.”
  • Alcoa’s re-licensing application represents “the mother of all incentives,” Hartsell said. “They want the state to concede they should have $1 billion in benefit over the next 50 years and provide nothing to the state,” he said.
  • “Why should we give it away?” Hartsell continued. “From an economic development perspective, energy is the major issue associated with job growth and development regardless of the industry.”
  • He pointed out that Alcoa is capitalizing on the hydroelectric energy generated by the Yadkin by selling electricity “on the grid” rather than investing in the local communities.
  • “We’re dealing with John Dillinger and Al Capone,” Bingham said. “Alcoa reaps [millions] in profits each year and North Carolina gets zilch.”
  • An environmental study commissioned by Stanly County and conducted by professor John Rodgers of Clemson University last year established a connection between contami nation of polychlorinated biphenyls, or PCBs, in fish and soil samples taken from Badin Lake near Alcoa’s Badin Works operation. Rodgers’ findings led the Yadkin River Coalition to appeal the waterquality certification issued by the NC Department of Environment and Natural Resources, or DENR. Administrative Law Judge Joe Webster granted an injunction on May 26 prohibiting DENR from issuing a 401 Water Quality Certification to Alcoa until the full appeal is heard.
  • The state issued a fish-consumption advisory for Badin Lake between Stanly and Montgomery counties last February due to elevated levels of PCBs found in largemouth bass and catfish
  • Alcoa attempted to block the advisory by filing a legal appeal. The company claimed that the state “changed its stated evaluation criteria after the study was complete and held Badin Lake to a different standard than the other lakes and rivers in North Carolina,” according to a posting on a company website.
  • Bingham said Alcoa’s objection to the posting of the fish-consumption advisory speaks volumes about their concern for the people who swim and fish at Badin Lake.
  • “It just tells me how they do business,” Bingham said. “They fought the fish-advisory signs; they say we’re taking their property and we have no rights to the water. We’re stuck with the bastards, at least for the moment, but I feel good about the direction of the fight we’re taking on in the future.”
  • Naujoks said he’s concerned about the high concentration of PCBs in the landfills and dumping sites near Alcoa’s four hydroelectric dams. Naujoks said Alcoa has not been entirely forthcoming about the number of waste dumping sites in and around their facilities.
  • They’re not showing us where all the buried bodies are found. As we start digging down through the layers, we’re going to find much more.”
  • “Alcoa knows they can’t hide these dumping sites,” Naujoks said
  • A PROMISING FUTURE Bingham said once Perdue joined the Yadkin River Coalition, it changed everything. “It’s been wonderful; it’s been extremely important,” he said. “We were facing a multi-billion-dollar corporation, but when the governor lis tened to our pleas, they began to take this extremely seriously. They realized they’re in for a fight.”
  • Bingham said the coalition will never quit until the Yadkin River is returned to the people of North Carolina.
  • “Our legal case could take years to resolve, but the campaign to support the legislation through the coalition and FERC re-licensing could be decided within the next year,” he said. “We will work on a targeted campaign to unify and strengthen grassroots efforts of local governments, public interest organizations, businesses and individuals to reclaim the waters of the Yadkin River to benefit the public interest.”
  • Bingham said he can see a day in the near future when the Yadkin is returned to the people and the economy of the 25 counties in the Yadkin River Basin begin to flourish.
  • The NC Department of Health and Human Services issued a fish-consumption advisory last February on Badin Lake after high levels of PCBs were found in fish tissue samples. Alcoa unsuccessfully filed a legal challenge to the advisory last April. The advisory remains in effect.
  • We can offer industry power at a reduced rate and that plays a big part in manufacturing,” he said. “That would be a tremendous incentive. For years, we’ve stood by the sidelines and watched industries go elsewhere. We don’t have anything to offer industry
Yadkin River

State Seeks Return of Yadkin River Flows, Hydroelectric License to People of ... - 0 views

thesnaponline.com/...se-to-People-of-North-Carolina

shared by Yadkin River on 06 Dec 11 - No Cached
  • Perdue: ‘Invaluable Natural Resource’ Must Be Managed for Public Good
  • Perdue: ‘Invaluable Natural Resource’ Must Be Managed for Public Good
  • Perdue: ‘Invaluable Natural Resource’ Must Be Managed for Public Good
  • Yadkin River on 06 Dec 11
     
    Perdue: 'Invaluable Natural Resource' Must Be Managed for Public Good
Yadkin River

China's "going out" strategy | The Economist - 0 views

www.economist.com/...chinas_going_out_strategy

China Natural Resources yadkin alcoa

shared by Yadkin River on 18 Dec 11 - No Cached
  • Beijing will use its foreign exchange reserves, the largest in the world, to support and accelerate overseas expansion and acquisitions by Chinese companies, Wen Jiabao, the country’s premier, said in comments published on Tuesday.
  • “Everyone is saying we should go to the western markets to scoop up [underpriced assets],” said Chen Yuan. “I think we should not go to America’s Wall Street, but should look more to places with natural and energy resources.”
  • As cheap as many American assets may look right now, it's difficult to argue with the Chinese strategy.
  • ...1 more annotation...
  • And investing in natural and energy resources is a nice way to hedge against future increases in commodity prices, though large-scale resource investment may make some in developed nations nervous.
Yadkin River

"Going Out": China's Pursuit of Natural Resources and Implications for the PRC's Grand ... - 0 views

www.isn.ethz.ch/...Detail

china pursuit natural resources yadkin alcoa

shared by Yadkin River on 18 Dec 11 - No Cached
  • Yadkin River on 18 Dec 11
     
    see the PDF
Yadkin River

U.S. Steel Industry Says Get Ready, Chinese Government Companies Are Coming To America - 0 views

www.manufacturingnews.com/...steel109.html

steel industry chinese government yadkin

shared by Yadkin River on 18 Dec 11 - No Cached
  • "In essence, after creating, developing and nurturing massive 'national champions,' the Chinese government is now strategically deploying these entities overseas to execute the government's agenda: to acquire natural resources and raw materials, obtain technology and expertise, gain entry into new markets and increase China's economic and political influence on a global scale."
  • Such ownership is deemed illegal under the World Trade Organization rules. Yet China has defied them. The Chinese government owns most of the shares of the major steel producers. It is involved in making the business decisions within virtually all of China's major steel companies.
  • The Chinese government has directed its Anshan Iron and Steel Group to directly invest in the United States. On May 17, 2010, the company announced a joint venture with Steel Development Co. of Amory, Miss., to build up to five new steel plants in the United States. "Anshan's investment in SDC is the direct result of China's industrial policies," notes Wiley Rein. The 100-percent state-owned enterprise became China's fourth largest steel producer "through government mandated mergers and the receipt of massive government subsidies." China's 2009 "Revitalization Plan," "explicitly identifies Anshan as a recipient of extensive government support in order to strengthen its international competitiveness and to assist Anshan in acquiring strategic resources and establishing operations abroad. . . Anshan is now investing in the U.S. steel market, with the full force and encouragement of the Chinese government." China is stepping up its global strategy. China's government said it invested $43.3 billion overseas in 2009. Through June 2010, overseas investment had reached $55.2 billion. The OECD says these figures are "substantially" underestimated. Chinese foreign mergers and acquisitions have increased by more than 50 percent in the first half of 2010, according to report from China Daily Online. "Chinese investment into the United States jumped 360 percent in the first half of 2010 compared to the same period last year," according to the Wiley Rein report. "In 2009, Chinese enterprises announced new direct investment in the United States of approximately $5 billion, up from $500 million in 2008, and despite a significant global downturn in such investments. Moreover, Chinese firms acquired or announced that they were starting more than 50 U.S. companies in 2009."
Yadkin River

Renewable Energy, Hydroelectric Power - 0 views

www.altenergy.org/...hydroelectric.html

hydro electric power economic development

shared by Yadkin River on 14 Dec 11 - Cached
  • Relicensing is a complex process in which private dams are re-evaluated every 30 to 50 years. The Federal Energy Regulatory Committee "considers anew whether it is appropriate to commit the public's river resources for private power generation FERC is now required, when deciding whether to issue a license, to consider not only the power generation potential of a river, but also to give equal consideration to energy conservation, protection of fish and wildlife, protection of recreational opportunities, and preservation of other aspects of environmental quality." Relicensing was infrequent until 1993, when hundreds of licenses began to expire. "The Hydropower Reform Coalition formed in 1992 to take advantage of this once-in-a-lifetime opportunity to restore river ecosystems through the relicensing process." To the Coalition's dismay, a new bill is being considered called the Hydroelectric Licensing Process Improvement Act, which if passed, "would limit the abilities of federal agencies to protect natural resources," making relicensing easier for dam operators.
Yadkin River

"Going abroad" and how to make it happen - People's Daily Online - 0 views

english.peopledaily.com.cn/...6639594.html

shared by Yadkin River on 18 Dec 11 - No Cached
  • Now is the opportune time for China to accelerate its "going abroad" strategy and expand foreign direct investment to take advantage of the opportunity to establish a new structure for its diversified assets portfolio. This would include the simultaneous development of domestic and foreign assets, physical and virtual assets, as well as upstream and downstream assets.
  • advanced technologie
  • Secondly, China should invest in and develop natural resource projects abroad that can address its lack of resources.
  • ...4 more annotations...
  • In recent years, Chinese enterprises have been accelerating steps to make use of both domestic and international resources on a mutual benefit and win-win basis. Not only have large-sized state-owned enterprises and joint-stock enterprises initiated investments in resource development projects in Africa, some small and medium-sized private enterprises have also started to engage in high-risk investment projects, including early-stage mineral explorations in regions such as Southeast Asia, Africa and Latin America.
  • , involves infrastructure,
  • comprehensive development of mineral resource
  • ople's Daily Online and the chief economist under the National Development and Reform Commission (NDRC)
Yadkin River

» Blog Archive » Commissioners Comment on Status of Alcoa Negotiations - 1 views

insidestanly.com/?p=6103#comments

shared by Yadkin River on 05 Dec 11 - No Cached
  • Alcoa has stated they will provide financial assurances (up to $1.2 million) for the life of the license.  However, Alcoa has failed to inform the public these assurances are not worth the paper they are written on without sufficient enforcement measures included in the agreement.  Alcoa has refused to accept any language we have put forth that would provide sufficient remedies for the County to receive “financial assurances”, if Alcoa does not live up to its end of the bargain.
  • In fact, the proposal Alcoa presented includes an escape clause for any responsibilities due from the company, but it does not allow for review of the hydroelectric license once the license has been awarded.
  • As Alcoa’s latest offer stands, there is no efficient or cost effective way for the County to hold Alcoa accountable for its promises of jobs and investment
  • ...17 more annotations...
  • This is not “compelling”… it is unreasonable.
  • It is not proper for parties to share incomplete information via the press in these types of proceedings until the discussions yield an agreement or officially cease.  Neither has occurred.
  • From the beginning, the County’s goals have been to ensure: (1) that the river is environmentally protected for generations to come, (2) that the use of water from the Yadkin River is best determined by citizens of North Carolina, and (3) that the flow of the river is used to maximize the impact of its resources for the benefit of its citizens.  
  • The goal of environmental protection is being addressed in the state 401 water quality permit process and includes the NC Department of Environment and Natural Resources, Alcoa/APGI, Stanly County and the Yadkin Riverkeeper.
  • he County believes its intervention in this process will lead to numerous water quality improvements.
  • (1) The Board of Commissioners is legally responsible for the public health and well-being of its citizens.  These basic environmental protection measures will lead to cleaner surface and ground water for our citizens now and for generations to come.  It is impossible to put a price tag on the value of one citizen’s life or well-being.   (2) The value of water will only increase as growth demands in the Charlotte region, Piedmont Triad and along the I-85 corridor strain our available water resources.  Regional organizations to the east and west of the Yadkin River basin are planning for water use over the coming decades and our citizens need to be doing the same. (3) The water of the Yadkin belongs to the people and has tremendous value from an electrical generation perspective.  The benefits should not simply be given away to a global corporation to support its operations in other states and foreign countries. This simply transfers wealth out of our community and that is unacceptable. 
  • The County is seeking fair and reasonable compensation for the long-term use of the river.
  •   However, without long-term financial assurances these jobs and the associated taxable investment will remain over the course of a 30, 40 or 50 year license term, it would not be wise to simply drop our reasonable demands.
  •   Should our citizens accept a static amount for a settlement when the value of the resource will increase exponentially over the term of the license?
  • We, as Commissioners, will continue to seek the best outcome for Stanly County.
  • I’m so proud of (and awed by) the Commissioners for thinking of the bigger picture and the long term needs of the community. This is nothing short of blackmail — and failing that, bribery! –on Alcoa’s part. The only reason they’ve ever offered anything is because of the Commissioner’s strong stand against a massive corporate giveaway. Good for you Commissioners! I salute you.
  • Stanly County upheld its end of the bargain for 50 years. It’s time to reclaim use of the water for the betterment of all Yadkin Valley communities. Looks to me like Alcoa is the one stalling, not the commissioners.
  • We must put our fate in our own hands not with a corporation who has no responsibility to our region or our state.
  • I applaud the Commissioners’ continued resolve to do what is in the best interests of our citizens. Future prosperity in Stanly County depends on the Yadkin hydropower. Since the beginning of time, communities have only thrived because of their access to water …for drinking, recreation, trade and fuel. Had our water not been under the control of Alcoa for the last 50 years, we would be in much better shape economically. By leveraging the Yadkin hydropower, we could have already replaced our lost manufacturing jobs with higher paying jobs that reflect the needs of the 21st century. We would be absolute fools to once again relinquish control of our waters to Alcoa for another 50 years. We need to reserve the flexibility to control our own destiny—not “outsource” it to a multinational corporation that has a poor record of stewardship and corporate responsibility in our region.
  • “Since the operation of the Badin smelting works is dependent upon the availability of power supply, Carolina Aluminum must regard its smelting activities at Badin to be limited to the term of the license of the Yadkin Project, which is its source of power supply. In formulating its plans, and weighing the advisability of the $37,000,000 program, the management of Carolina Aluminum had to assume, therefore, that power would be available from the Yadkin Project at economically feasible rates only during the original license term. Under Section 14 of the Act, any project may be “recaptured” at the expiration of the license term. In formulating its plans, therefore, the management of Carolina Aluminum could not rely upon any assured source of power supply after the expiration of its license for the Yadkin Project”
  • The “project properties” are held in trust by the Government for the people. It is the “project properties” that a multi-national, foreign controlled, private enterprise is trying to “hijack” away from “we the people”.
  • Alcoa has never owned “the riverbed”. The do pay taxes in an attempt to lay claim to the riverbed. The state constitution and federal law does not support their claim. With that said, refer back to the 1958 license agreement. Alcoa gave up rights to the submerged land “the project property” in exchange for the monopoly use of the water as free fuel for a guaranteed profit for 50 years. Article 14 of the The Federal Power Act clearly spells out the option Alcoa gave the Federal Government in exchange for the use of the “peoples waters”.
Yadkin River

Alcoa and Chinese Rival Buy 12% Stake in Rio Tinto - New York Times - 0 views

www.nytimes.com/...02mines.html

chinese ALCOA YADKIN GOINGOUT

shared by Yadkin River on 19 Dec 11 - No Cached
  • SHANGHAI — The state-owned giant Aluminum Corporation of China and the Aluminum Corporation of America stunned analysts and investors Friday by buying a minority stake in Rio Tinto, the world’s third largest mining company.
  • “The Chinese are probably the best capitalists that communism will ever have given birth to,” said Michelle Applebaum, head of an independent steel equity research firm in Chicago.
  • Last year, China’s state-controlled sovereign wealth fund — another increasingly visible and controversial measure of the new wealth of the nation — invested in the private equity firm Blackstone. Later, it paid about $5 billion to buy a small stake in Morgan Stanley.
  • ...6 more annotations...
  • Now, China appears to be making another bold play to capture the natural resources it needs to fuel its fast-growing economy.
  • Most of the $14 billion came from Chinalco, which is ultimately controlled by the government in Beijing. Alcoa, which is based in Pittsburgh, contributed only about $1.2 billion to purchase the Rio stake.
  • "We believe that the Chinese recognize that control will likely be elusive — if not impossible — and that ownership of its raw material resources is key to the future.”
  • The statement, analysts say, was a hint that the two could team up with other companies or entities, possibly from China, to bid for all of Rio and wage a tough takeover battle with BHP, driving up the price of Rio shares.
  • partly because of suspicions that the Chinese government could be behind the deal.
  • Neither Chinalco nor Alcoa have the cash or stock to make a $150 billion bid, analysts say. Shares of Alcoa are worth about $30 billion and Chinalco shares in China are worth about $50 billion.
Yadkin River

China and France chase US shale assets - FT.com - 0 views

www.ft.com/...e2-11e1-9f98-00144feabdc0.html

shared by Yadkin River on 04 Jan 12 - No Cached
  • Sinopec, China’s second-largest oil company by market capitalisation, unveiled a $2.5bn deal with Oklahoma-based Devon Energy to invest in five new development areas from Ohio to Alabama.
  • International groups are still keen to increase their exposure to unconventional US energy resources despite the environmental controversy over “fracking”, the injection of water, sand and chemicals into wells to crack rocks and release oil and gas.
  • Foreign companies have been shifting their focus from gas, prices for which have plunged, to oil. Devon’s deal with Sinopec also reflects Chinese companies’ hopes that techniques pioneered in the US could be used to develop China’s own resources.
1 - 12 of 12
Showing 20▼ items per page