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China seeks bigger deals and new sectors in Africa acquisition spree - 0 views

www.ft.com/...97-11dd-b354-000077b07658.html china mining power trends
shared by Colin Bennett on 31 Jul 08 - Cached
  • Colin Bennett on 31 Jul 08
     
    High-level groups of bankers from Industrial and Commercial Bank of China and Standard Bank, respectively China and Africa's biggest banks, are examining potential targets in Africa's oil and gas, telecoms, base metals and power sectors, executives at the Johannesburg-based lender have told the Financial Times
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REpower Installs 5-MW Wind Energy Turbine at Thornton Bank - 0 views

www.renewableenergyworld.com/...story wind
shared by xxx xxx on 30 Jul 08 - Cached
  • xxx xxx on 30 Jul 08
     
    REpower Systems AG has successfully installed the first of six wind energy turbines for the Belgian offshore wind farm Thornton Bank. The project, located about 30 kilometers off the coast, is the first Belgian offshore wind farm. For the first of three construction phases, REpower is providing six 5-megawatt (MW) offshore turbines, adding up to a total capacity of 30 MW. Gravity based foundations were erected and carried out to sea to form the foundation for the six wind turbines in Thornton Bank. All work at sea is performed in a water depth of approximately 25 meters using jack-up drilling platforms. The 5-MW turbine which has just been erected in Belgium is the twelfth of the model installed by REpower.
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The end of Bretton Woods 2? - 0 views

blogs.cfr.org/...the-end-of-bretton-woods-2 2008-crisis economics
shared by Wade Ren on 29 Oct 08 - Cached
  • The Bretton Woods 2 system – where China and then the oil-exporters provided (subsidized) financing to the US to sustain their exports – will come close to ending, at least temporarily. If the US and Europe are not importing much, the rest of the world won’t be exporting much.
  • And rather than ending with a whimper, Bretton Woods 2 may end with a bang. In some sense Bretton Woods 2 has been on life support for a while now. China’s recent export growth has depended far more on Europe than on the US. US demand for non-oil imports peaked in 2006. One irony of the past year is that the US was borrowing far more from China that it was buying from China. Campaign rhetoric that the US was paying for Saudi oil with funds borrowed from China isn’t far off – though it leaves out the fact that the US also borrows from Saudi Arabia to pay for Venezuelan, Mexican and Nigerian oil.
  • If Bretton Woods 2 ends in 2009 – if US demand for imports falls sharply in the last part of 2008 and early 2009, bringing the US trade deficit down – it won’t have ended in the way Nouriel and I outlined back in late 2004 and early 2005. We postulated that foreign demand for US debt would dry up – pushing up US Treasury rates and delivering a nasty shock to a housing-centric economy. As Brad DeLong notes, it didn’t quite play out that way. The US and European banking system collapsed before the balance of financial terror collapsed. Dr. DeLong writes: All of us from Lawrence Summers to John Taylor were expecting a very different financial crisis. We were expecting the ‘Balance of Financial Terror’ between Asia and America to collapse and produce chaos. We are not having that financial crisis. Instead we are having a very different financial crisis. Catastrophic failures of risk management throughout the entire banking sector caused a relatively minor collapse in housing prices to freeze up global finance to a degree that has not been seen since the Great Depression. The end result of this crisis though could be rather similar: a sharp contraction in credit, a fall in US economic activity, a fall in US imports and a fall in the amount of foreign financing the US needs.* The US government is (possibly) trying to offset the fall in private demand by borrowing more and spending more — but as of now there is realistic risk that the fall in private activity will trump the fiscal stimulus.
  • ...11 more annotations...
  • Or, to put it more succinctly, Bretton Woods 2, as it evolved, hinged both on the willingness of foreign central banks to take the currency risk associated with lending to the US at low rates in dollars despite the United States large current account deficit AND the willingness of private financial intermediaries to take the credit risk associated with lending at low rates to highly-indebted US households.
  • But now US financial institutions are neither willing nor able to take on the risk of lending even more to US households. For a while the US government was able to ramp up its lending to households (notably through the Agencies) and in the process effectively take over the function previously performed by the private financial system (over the last four quarters, the flow of funds data indicates that the Agencies provided around $800 billion of net credit to US households). But now the US government is struggling to keep the financial system from collapsing. It doesn’t seem like it will able to avoid a sharp fall in the overall availability of credit.
  • It is now clear how the financial sector kept profits up: it took on more risk, as it shifted from borrowing short to buy safe long-term assets (Treasuries and Agencies) to borrowing short to buy risky long-term assets. Leverage in the system also increased (and for some broker dealers that seems to be an understatement), as more and more financial institutions believed that the US had entered into an era of little macroeconomic or financial volatility. The net result seems to have been a truly explosive concentration of risk in the hands of a core set of financial intermediaries in the US and Europe. Securitization – it seems – actually didn’t disperse risk into the hands of institutions able to handle it.
  • I hope that the process of adjustment now underway isn’t as sharp as I fear. The US economy gradually can shift from producing MBS for sale to US investors flush with cash from the sale of safe securities to China and Saudi Arabia to producing goods and services for export – but it cannot shift from churning out complex debt securities to producing goods and services overnight. Indeed, in a slowing US and global economy, improvements in the US deficit will likely come from faster falls in US imports than in US exports – not from ongoing growth in US exports.
  • But right now it looks like there is a real risk that the adjustment won’t be gradual. And it certainly looks like the flow of Chinese (and Gulf) savings to US households over the past few years has produced one of the largest misallocations of global capital in recent history.
  • US taxpayers are going to be hit with a large tab for the credit risk taken on by undercapitalized financial intermediaries. Chinese taxpayers may get hit with a similar tab for the losses their central bank incurred by overpaying for US and European assets as part of its policy of holding its exchange rate down. The TARP is around 5% of US GDP. There are plausible estimates that China’s currency losses will prove to be of comparable magnitude. Charles Dumas puts the cost at above 5% of GDP: “Charles Dumas of Lombard Street Research estimates that China makes 1-2 per cent on its (largely) dollar reserves. It then loses up to 10 per cent on the exchange rate and suffers a Chinese inflation rate of 6 per cent for a total real return in renminbi of about minus 15 per cent. That is a loss of $270bn a year, or a stunning 7-8 per cent of gross domestic product.”
  • Jboss — if some of the Chinese inflow could be redirected into investment in alternative energy, that would indeed be a win/ win. Some infrastructure bank style ideas have promise in my view — basically, the flow that used to go to freddie/ fannie could go to wind farms and the like. I would rather see more adjustment in china (i.e. more investment in Chinese infrastructure) but during the transition, if there is one, to a lower Chinese surplus, redirecting chinese financing toward new energy tech would be offer real benefits.
  • China likes 3rd generation nuclear power. Safe, lower cost than NG or coal, very much lower cost than coal with carbon sequestering, and zero carbon footprint. Wind is about 4X more expensive than our electric costs now. That’s in an area with consistent wind. Solar is worse. I don’t know if we can sucker them into investing in our technical fairy tales. Here’s a easy primer on 3rd gen nukes. http://nuclearinfo.net/Nuclearpower/WebHomeCostOfNuclearPower
    • Wade Ren
      Wade Ren on 29 Oct 08
       
      is this true?
  • btw, solar thermal installations are so easy & affordable to retrofit onto existing structures, it’s amazing that there aren’t more of them here…until you realize that they work to decentralize energy. cedric — china is already doing it in china. they are way ahead of the curve over there. my partner brought back some photos of shanghai — rows of middle class homes each with a small solar panel on top. and that’s just the tip of the iceberg — an architect friend just came back from beijing and wants to move to china (he’s into designing self-powering structures and is incredibly frustrated by the bureaucracy and cost-prohibitive measures in the US).
  • I went to engineering school right after the Arab Oil Embargo, and alternative energy was a hot topic then. All the same stuff you hear of nowadays. They even offered entire courses on it , which I took. Then my first mini career was in the power plant biz, before Volker killed it with interest rates and the Saudies killed any interest in alt. energy with their big oil field discovery. For the last 5 years I’ve been researching what’s changed, and it is frighteningly little. Solar cells are still expensive and only have a 15% conversion efficiency. They developed the new cost reduced film technology, but that knocks down efficiency to 7%. Wind power works where there is wind constantly. Generators are mature technology and are already 90 some percent efficient. Geothermal, tidal, ect. work where they are available. Looks like coal gasification and synfuel is out because it makes too much CO2. Good news is 3rd gen nuclear is way better than 1st gen plants. Hybrid cars are good, and battery technology is finally getting barely good enough for all electric cars to be practical.
  • According to news report today, Japan’s trade surplus is less than 1 billion $ in September 08, a whopping 94% decrease compared to September 07. Does it imply that going forward Japan can not buy as much treasury as before?
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China to invest US$50 billion in Brazilian infrastructure projects - 0 views

nextbigfuture.com/...to-invest-us50-billion-in.html trends copper investment Brazil China infrastructure
shared by Colin Bennett on 19 May 15 - No Cached
  • Colin Bennett on 19 May 15
     
    "The Industrial and Commercial Bank of China Ltd. (ICBC) plans to start a fund of up to $50 billion, to be managed by Brazil's state-owned bank Caixa Economica Federal, for investing in infrastructure projects in the South American country, according to a person familiar with the situation."
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U.K. Stocks Climb, Led by Banks, Mining Companies - 0 views

www.miningne.ws/...-mining-companies-lloyds-gains europe united kingdom london copper markets kazakhmys vedanta xstrata mine mining
shared by Steven O'Sullivan on 29 Apr 09 - Cached
  • Steven O'Sullivan on 29 Apr 09
     
    U.K. stocks advanced, led by banks and mining companies. Kazakhmys, Kazakhstan's largest copper producer, rose 3.4 percent to 499 pence. Vedanta, the biggest copper producer in India, gained 3.4 percent to 964 pence. Xstrata Plc, the world's fourth-largest producer of the metal, jumped 3.3 percent to 582 pence.
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Copper Mine Supply Could Lag Demand Growth - Macquarie - 0 views

news.morningstar.com/...ViewNews.aspx trends copper rio supply
shared by Colin Bennett on 26 May 09 - Cached
  • Colin Bennett on 26 May 09
     
    SINGAPORE -(Dow Jones)- Copper mine supply could struggle to match forecast demand growth in the period to 2013, Macquarie Bank said in a report dated Tuesday. The bank said copper demand was expected to be 4 million metric tons higher in 2013 than 2009, implying that a significant number of new mine projects will need to come onstream to balance the market.
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USA - Bank of America sees copper consumption growth - 0 views

communities.thomsonreuters.com/...474357 Bank of America copper consumption
shared by Panos Kotseras on 17 Nov 09 - Cached
  • Panos Kotseras on 17 Nov 09
     
    Bank of America-Merrill Lynch is expecting that the world ex-China has potential for copper demand growth too. As a result, it revised up its copper price forecast for 2010 to US$7,125/t. This represents a 1.8% increase compared to its earlier anticipation. Its forecast for the current year is revised up by 5.6% to US$5,137/t.
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Deutsche Bank predicts second solar "gold-rush" - 0 views

reneweconomy.com.au/...s-second-solar-gold-rush-40084 trends copper renewables Photovoltaics
shared by Colin Bennett on 17 Jan 14 - No Cached
  • Leading investment house Deutsche Bank has dramatically lifted its demand forecasts for the global solar industry – predicting that 46 gigawatts (GW) of solar PV will be installed across the world in 2014, before jumping by another 25 per cent to 56GW in 2015.
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World Bank targets $9 million for energy efficiency in developing nations - 0 views

www.smartgridnews.com/...n-developing-nations-6194.html trends copper energy efficiency
shared by Colin Bennett on 05 Dec 13 - No Cached
  • The World Bank has announced a new initiative to help cities in developing countries integrate energy efficiency into their strategic planning and operations, in order to improve public services, lessen pressure on municipal budgets, and reduce pollution and greenhouse gas (GHG) emissions.
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Copper falls to 18-month low on bank crisis - 0 views

www.mineweb.com/...page504 copper price trends
shared by Colin Bennett on 02 Oct 08 - Cached
  • Colin Bennett on 02 Oct 08
     
    Copper hit an 18-month low on Tuesday before trimming losses as recession fears grew after the U.S. Congress voted down a rescue plan for troubled banks.
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U.K. Stocks Climb to Two-Month High; Mining Shares Rally - 0 views

www.miningne.ws/...high-banks-mining-shares-rally europe united kingdom copper markets kazakhmys rio tinto london mine mining
shared by Steven O'Sullivan on 30 Apr 09 - Cached
  • Steven O'Sullivan on 30 Apr 09
     
    U.K. stocks climbed, extending a two-month high, as banks and commodity producers rallied. Kazakhmys jumped 5.8 percent to 540.5 pence. Separately, copper futures advanced...
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CEF takes stake in Paranapanema - 0 views

member.bnamericas.com/...buys-172-stake-in-paranapanema Copper Brazil Tubes Wires Strips Bars
shared by Matthew Wonnacott on 04 Jan 13 - No Cached
  • Matthew Wonnacott on 04 Jan 13
     
    CEF, the Brazilian government controlled development bank, announced on 4th January that it is purchasing a 17.2% stake in smelter and semis producer Paranapanema from the Brazilian development bank BNDES. Paranapanema is primarily involved in the smelting and production of semi-finished copper products for the Brazilian and South American market, including copper tube, wires, bars and strips.
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Donald Sadoway: The missing link to renewable energy | Video on TED.com - 0 views

www.ted.com/..._link_to_renewable_energy.html renewable battery
shared by Glycon Garcia on 27 Mar 12 - No Cached
  • Donald Sadoway: The missing link to renewable energy
  • What's the key to using alternative energy, like solar and wind? Storage -- so we can have power on tap even when the sun's not out and the wind's not blowing. In this accessible, inspiring talk, Donald Sadoway takes to the blackboard to show us the future of large-scale batteries that store renewable energy. As he says: "We need to think about the problem differently. We need to think big. We need to think cheap." Donald S
  • Glycon Garcia on 27 Mar 12
     
    "Donald Sadoway: The missing link to renewable energy Tweet this talk! (we'll add the headline and the URL) Post to: Share on Twitter Email This Favorite Download inShare Share on StumbleUpon Share on Reddit Share on Facebook TED Conversations Got an idea, question, or debate inspired by this talk? Start a TED Conversation, or join one of these: Green Home Energy=Hydrogen Generators-alternative sources Started by Kathleen Gilligan-Smith 1 Comment What is the real missing link in renewable energy? Started by Enrico Petrucco 8 Comments Comment on this Talk 60 total comments Sign in to add comments or Join (It's free and fast!) Sort By: smily raichel 0 Reply Less than 5 minutes ago: Nice smily raichel 0 Reply Less than 5 minutes ago: Good David Mackey 0 Reply 3 hours ago: Superb invention, but I would suggest one more standard mantra that they should move on from and that is the idea of power being supplied by a centralised grid. This technology seems to me to be much more beneficial on a local scale, what if every home had its own battery, then home power generation becomes economically more viable for everyone. If you could show that a system like this could pay for itself in say 5 years then every home would want one. Plus for this to be implemented on a large scale requires massive investment that could be decades away. Share the technology and lets get it in homes by next year. Great ted talk. Jon Senior 0 Reply 1 hour ago: I agree 100%. Localised energy production would also make energy consumers more conscious of their consumption and encourage efforts to reduce it. We can invent and invent all we want, but the fast solution to allowing renewable energies to take centre stage is to reduce the base energy draw. With lower baseline consumption, smaller "always on" generators are required to keep the grid operational. Town and house-l
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China Changsha unveils US$130 billion municipal investment plan - 0 views

nextbigfuture.com/...sha-unveils-us130-billion.html trends Copper China
shared by Colin Bennett on 30 Jul 12 - No Cached
  • China is making a second major stimulus push after economic growth slowed to a three-year low of 7.6% in the second quarter. Among them are 66 billion yuan ($10.5 billion) for affordable housing and 26.5 billion yuan ($4.4 bil.) to subsidize sales of energy-efficient appliances. The central bank has also begun loosening bank lending and reserve requirements as inflation has cooled considerably since last year.Other cities have announced plans to subsidize purchase of low-cost housing and efforts to build more and faster roads and railways, push alternative energy, stimulate sales of clean cars, build more hospitals and improve water treatment facilities as part of the stimulus effort.
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The Global Economy in 2014, by Christine Lagarde, Managing Director, International Mone... - 0 views

www.imf.org/...011514.htm trends copper economy
shared by Colin Bennett on 16 Jan 14 - No Cached
  • In just a few days, we will be releasing our updated forecasts. While our numbers are still being finalized, I will talk about the main trends as we see them.
  • Colin Bennett on 16 Jan 14
     
    * Momentum strengthened in the latter half of 2013, and should strengthen further in 2014-largely due to improvements in the advanced economies. * Yet, global growth is still stuck in low gear. It remains below its potential, which we think is somewhere around 4 percent. * Even for the advanced economies, however, the outlook is still subject to significant risks. With inflation running below many central banks' targets, we see rising risks of deflation, which could prove disastrous for the recovery. * During the years of crisis, we have relied on the emerging markets to keep the global economy afloat. Together with the developing countries, they accounted for three-quarters of global growth over the past half decade. However, a growing number of emerging markets are slowing down as the economic cycle turns.
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PBOC Says No Longer in China's Interest to Increase Reserves - 0 views

www.bloomberg.com/...-to-boost-record-reserves.html trends copper economics China
shared by Colin Bennett on 11 Dec 13 - No Cached
  • The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.
  • The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.
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USA and China stimulus spending on water and transport - 0 views

www.globalwaterintel.com/...less-than-stimulating.html trends copper water availablity transport stimulus
shared by Colin Bennett on 20 Sep 10 - No Cached
  • Water and wastewater utilities won’t be getting any more free money, however – the new package has been directed largely at transport projects. Instead, those wanting to finance water projects will have to wait for details of the new National Infrastructure Bank that the president is backing. The American Water Works Association put out a press release to express its concern that water projects might not be eligible for finance from the new bank. * China’s economic stimulus has brought about some interesting unintended consequences. Until the stimulus was announced in 2009, municipalities relied on project finance companies known as Chengtous to raise capital for projects. These bodies have raised RMB 7.66 trillion ($1.12 trillion), but they are now discovering the municipalities don’t need the funds because they can get the money via central government grants. 23% of the capital they have raised is now regarded as “high risk”. This is going to have significant implications for the future of project finance in China.
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Pioneering Dye Sensitive PV Cells & Ethics-Driven Business Models - 0 views

www.renewableenergyworld.com/...story battery copper
shared by xxx xxx on 28 Jul 08 - Cached
  • xxx xxx on 28 Jul 08
     
    \nCadiz, Spain - While significant challenges remain and large-scale applications appear relatively far out on the horizon, smaller scale applications, such as organic light emitting diodes (OLEDs), are already being built into a variety of electronic products. Industry pioneers, such as G24i, have begun manufacturing their first generation of products, which in G24i's case includes a DSC-powered mobile phone charger and an award-winning "Lighting Africa" portable lamp that marries cutting-edge LED and dye-sensitized thin-film PV technologies. \n\nLooking to bring off-grid electrical power options to people in Kenya, Nigeria, Rwanda, South Africa and a still growing range of African countries, G24i in May was awarded the World Bank Group's 2008 "Lighting Africa Development Marketplace" prize for its solar-powered LED light, which uses the company's proprietary dye-sensitized thin-film solar cells in concert with light emitting diodes (LED) produced by Dutch lighting manufacturer Lemnis. \n\nG24i dye-sensitized thin-film solar cells are proving themselves rugged enough to endure some of the harshest conditions on the planet. Besides enduring the rigors of operating in various African locations, the company's DSC cells were used to generate electrical power for British explorer Robert Swan and his team during their two-week 'E-Base Goes Live' project in which they traveled to Antarctica. Despite poor sunlight, the cells contributed to the successful powering of satellite, digital and video conferencing and other communications equipment throughout the two-week long expedition.\n\nThe first person to walk to the North and South Poles, Swan is moving on to an educational sailing around the world project and G24i is working on sails for his craft that will have thin-film dye-sensitized PV cells embedded in them. \n
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