Isramart news:
AEP Southwestern Electric Power Co. has committed $2 million to support the commercial development of advanced compression technology for carbon dioxide as part of an initiative that includes the Department of Energy's National Energy Technology Lab, Ramgen Power Systems and Dresser-Rand.
The goal is developing a supersonic shockwave compression system that will reduce the cost and energy use associated with compressing carbon dioxide for storage in deep underground rock formations.
Isolating carbon dioxide in underground formations requires compressing the gas to more than 1,500 pound-force per square inch. Existing compression technology represents a big part of the capital and operating costs of developing carbon dioxide capture and storage systems. The advanced compression system being developed by Ramgen will use supersonic shockwaves to compress carbon dioxide for capture and storage. If successful, the shockwave compression technology is projected to reduce the capital cost of carbon dioxide compression equipment by as much as 50 percent and reduce operating costs by at least 15 percent.
ETBU selects eight board members
Eight new members have been selected to the board of trustees of East Texas Baptist University. New members are David L. Anderson of Carthage, Don Anthis of Houston, Penny Carlile of Marshall, Dan Cunningham of Longview, Monty Pierce of Hallsville, Ben Raimer of Galveston, Vic Schwartz, Jr. of Marshall, and James Thompson of Marshall. ETBU has 36 trustees on the board.
Anderson, a graduate of Baylor University, serves as county judge of Panola County.
Anthis is the owner of Anthis and Co. CPA's and a deacon and member of Champion Forest Baptist Church in northwestern Houston. He holds a bachelor of science degree from East Texas Baptist College and a master of business administration degree from West Texas State University. Anthis is an adjunct professor of accounting at Lone Star College. Carlile, a graduate of Baylor University, is the founder and board member of Celebrating Home and a board member of Marks Hill Consulting and Casey Pottery Co.
Cunningham is the sales manager for Equipment Depot of Texas.
Pierce is the associate pastor and education/administration minister of First Baptist Church of Hallsville. He is a graduate of East Texas Baptist University and received his master's and doctoral degrees from New Orleans Baptist Theological Seminary.
Raimer is the senior vice president for health policy and legislative affairs for the University of Texas Medical Branch. He is a diplomate of the American Board of Pediatrics and a Fellow of the American Academy of Pediatrics. Raimer holds a bachelor of science degree from ETBU, a master of arts degree and medical degree from the University of Texas Medical Branch.
Schwartz is the general manager of Panola-Harrison Electric Cooperative Inc. He is a graduate of East Texas Baptist University.
Thompson is a financial adviser with Edward Jones and Co. He holds a bachelor of business administration degree in finance from Sam Houston State University.
Austin Bank Longview employees honored
Austin Bank recently honored 16 Longview employees for their outstanding work and years of service with the company. They were recognized at the bank's 2009 Service Award Luncheon held Dec. 9 in Tyler.
This year's annual luncheon recognized 45 Austin Bank employees who completed five, 10, 15, 20, and 25 years of service in 2009. The overall group represents 515 years with Austin Bank.
They included 25-year service awards to Donna J. Bobo, assistant vice president, lending, and Billy Mullins, senior executive vice president, risk management.
Bobo is a loan specialist based in the Longview Oak Forest location. She has worked at Austin Bank in the credit, loan, payroll and insurance departments as a loan secretary, retail office manager, executive assistant and loan officer.
Mullins has 35 years banking experience in lending, loan review, risk management and loan operations.
Debbie Conner, administrative officer, and Dennis M. Hettinger, building maintenance, received 20-year service awards.
Conner works in loan administration at the Longview Oak Forest location. She has been with Austin Bank for 20 years, but has 33 total years of banking experience in bookkeeping, teller operations and lending.
Hettinger, a 20-year employee, handles the bank's building maintenance and mail service at the Longview location on West Marshall.
Fifteen-year service awards went to Tammy G. Howell, computer operator, and Jacqueline Valentine, bookkeeping supervisor.
Howell began her banking career 15 years ago in Big Sandy working in bookkeeping and as a teller. She transferred to Longview in 1999 and moved to the technology department in 2000.
Valentine has experience as a proof operator, teller, bookkeeper, IT item processor and supervisor.
Ten-year service awards went to Tina M. Bogenschutz, PC technician; Natalie Lynch, location president/senior vice president at Longview Loop; John B. Orr, chief information officer, senior vice president; Jennifer M. Payne, help desk representative; Janet M. Read, document imaging clerk; Lisa D. Sampson, vice president and loan operations manager and Becky Shannon, document imaging clerk
Bogenschutz works in the bank's Information Technology Department.
Lynch joined Austin Bank in 1999 and developed the bank's credit analysis department. She is a senior vice president handling consumer and commercial real estate loans.
Orr is the lead technology officer for Austin Bank. He is a graduate of Denham Springs High School in Louisiana and Louisiana Tech University with a degree in electrical engineering and a master's in general counseling.
Payne works in the bank's technology department providing computer assistance to fellow staff members. She was the 2006 Winners Circle Award recipient for handling the highest number of calls.
Read first worked at Austin Bank as a customer service representative. She moved to document imaging in October 2003.
Sampson began her bank career 35 years ago through a high school work program, vocational office education. Initially a switchboard operator, she later worked in bookkeeping, teller, loan teller, loan assistant and branch operations manager.
Shannon first worked as a bank teller, then was promoted to customer service representative and handled new accounts. She is in the bank's bookkeeping department.
Five-year service awards went to Brad East, PC technician; Reagan L. Ford, administrative assistant and Tara Hughes, loan assistant.
East works in the banks' technology department.
Ford handles administrative work in branch operations and risk management.
Hughes has experience in bookkeeping and worked as a customer service representative.
She is a loan assistant at the Longview Oak Forest location.
East Texas Spa wins national award
East Texas Spa has received the Spasearch magazine 2010 Certified Retail Store award. Proving its longtime commitment to excellence, East Texas Spa has met all the standards of the certification process.
Based on merit, hot tub retailers earn the certified retail store status by demonstrating excellence on every level, from employee training to consumer satisfaction.
Retailers are evaluated based on audited results related to sales, service, operations and customer satisfaction as well as random on-site inspections by independent auditors.
Financial adviser opens new office
Stoney Thomas of the financial services firm Edward Jones opened a new office Monday at 2304 Judson Road, Suite C in Longview. The phone number is (903) 234-8087.
Thomas, who has been serving the area since 2006, said, "We are excited about our new location, and we are eager for our clients to visit us."
Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada.
32 more rigs drilling for oil, natural gas
HOUSTON — The number of rigs actively exploring for oil and natural gas in the U.S. rose by 32 this week to 1,193.
Baker Hughes, based in Houston, said Friday that 773 rigs were exploring for natural gas and 409 for oil. Eleven were listed as miscellaneous. A year ago this week, the rig count stood at 1,764.
Of the major oil- and gas-producing states, Texas gained 20 rigs, Colorado gained six and New Mexico and North Dakota each gained two. Louisiana lost four rigs while Arkansas and Pennsylvania each lost one. Alaska, California, Oklahoma, West Virginia and Wyoming were unchanged.
The rig count tally peaked at 4,530 in 1981, during the height of the oil boom.
Monday, January 4, 2010
Isramart: Carbon class warfare
Isramart news:
The United States was bashed a lot over the last two weeks at the Copenhagen Climate Summit. But those who believe in man-made global warming should have some praise for the Land of the Free because Americans are comparatively clean.
Admittedly, we emit large amounts of carbon dioxide per person, but the United States is at the very top in terms of how much it is able to create for the carbon dioxide it produces. And U.S. carbon-dioxide emissions per output have been improving over time. Few countries, especially the developing nations bashing us the most, come even close.
The United States currently produces 30 percent of the world's total goods and services but emits 20 percent of man-made carbon dioxide. The rest of the wealthy, developed nations aren't far behind. Under the Kyoto treaty, Europe, Japan, Australia, New Zealand, Canada and Russia are known as the Annex 1 countries. Combined, they produce 45 percent of the world's goods and services while emitting 31 percent of the world's man-made carbon dioxide. The United States produces 1.5 percent of the world's gross domestic product for each 1 percent of the world's man-made carbon dioxide emissions. That ratio is 1.45 to 1 for the other developed countries.
The rest of the world doesn't come close to this efficiency. By far the worst offenders are the former and current communist states. China generates just 6 percent of the world's gross domestic product but - at 21 percent - produces more man-made carbon dioxide than America. That's a ratio of .28 to 1. The former Soviet republics are even worse, producing just 2 percent of the world's GDP and 9 percent of its man-made carbon dioxide for a miserable .22 to 1 ratio. Other places such as India, members of the Organization of Petroleum Exporting Countries, Africa, Brazil and the rest of South America all produce a greater share of the world's man-made carbon dioxide than they do of the world's GDP.
The ultimate irony of Copenhagen is that Venezuelan dictator Hugo Chavez was greeted with deafening applause when he condemned capitalism. "Our revolution seeks to help all people... socialism, the other ghost that is probably wandering around this room, that's the way to save the planet; capitalism is the road to hell ... let's fight against capitalism and make it obey us," he thundered. Math, obviously, is not Mr. Chavez's strong suit.
We don't think made-made global warming is a problem. However, those who do should open their eyes and focus on the real enemies of humanity: socialism, atheism, poverty and dictatorships - not carbon dioxide.
The United States was bashed a lot over the last two weeks at the Copenhagen Climate Summit. But those who believe in man-made global warming should have some praise for the Land of the Free because Americans are comparatively clean.
Admittedly, we emit large amounts of carbon dioxide per person, but the United States is at the very top in terms of how much it is able to create for the carbon dioxide it produces. And U.S. carbon-dioxide emissions per output have been improving over time. Few countries, especially the developing nations bashing us the most, come even close.
The United States currently produces 30 percent of the world's total goods and services but emits 20 percent of man-made carbon dioxide. The rest of the wealthy, developed nations aren't far behind. Under the Kyoto treaty, Europe, Japan, Australia, New Zealand, Canada and Russia are known as the Annex 1 countries. Combined, they produce 45 percent of the world's goods and services while emitting 31 percent of the world's man-made carbon dioxide. The United States produces 1.5 percent of the world's gross domestic product for each 1 percent of the world's man-made carbon dioxide emissions. That ratio is 1.45 to 1 for the other developed countries.
The rest of the world doesn't come close to this efficiency. By far the worst offenders are the former and current communist states. China generates just 6 percent of the world's gross domestic product but - at 21 percent - produces more man-made carbon dioxide than America. That's a ratio of .28 to 1. The former Soviet republics are even worse, producing just 2 percent of the world's GDP and 9 percent of its man-made carbon dioxide for a miserable .22 to 1 ratio. Other places such as India, members of the Organization of Petroleum Exporting Countries, Africa, Brazil and the rest of South America all produce a greater share of the world's man-made carbon dioxide than they do of the world's GDP.
The ultimate irony of Copenhagen is that Venezuelan dictator Hugo Chavez was greeted with deafening applause when he condemned capitalism. "Our revolution seeks to help all people... socialism, the other ghost that is probably wandering around this room, that's the way to save the planet; capitalism is the road to hell ... let's fight against capitalism and make it obey us," he thundered. Math, obviously, is not Mr. Chavez's strong suit.
We don't think made-made global warming is a problem. However, those who do should open their eyes and focus on the real enemies of humanity: socialism, atheism, poverty and dictatorships - not carbon dioxide.
Isramart :Taxpayer funds increased for carbon-capture project
Isramart news:
Taxpayers are being called on to expand a project intended to demonstrate how emissions from a coal-burning power plant can be captured and injected underground for long-term storage, in an effort to keep them from adding to air pollution.
This month, the U.S. Department of Energy approved $334 million in funding to support an expansion of the American Electric Power Co.’s demonstration project, to make it a commercial-scale effort that would start up in 2015. It would use a chilled-ammonia process to capture at least 90 percent of carbon dioxide from 235 megawatts of the West Virginia plant’s 1,300 megawatts of capacity, treat the substance and then inject it about 1.5 miles underground for permanent storage.
Locally, Dayton Power and Light Co. engineers are watching the AEP project and others like it around the nation to see whether the same process could be used locally. The new technology could reduce pollution from coal-burning plants like those that DP&L relies on to generate electricity.
American Electric Power, a Columbus-based utility which serves customers in 11 states, said it has invested $73 million in the existing demonstration project, begun in early October at its 29-year-old Mountaineer power plant at New Haven, W.Va. The company hopes to persuade regulators in West Virginia and Virginia, whose customers are served by AEP’s network, to allow AEP to pass the project’s costs along to consumers.
The American Electric Power project, and other clean-coal technologies that the utility industry is developing, are aimed at demonstrating reduced-pollution methods of burning coal, an abundant American energy resource.
Utility executives said they believe coal must be part of the nation’s approach to its energy needs, along with energy-efficiency programs and development of alternative energy sources, to satisfy the demand from business and residential consumers. Environmentalists counter that the government should focus on energy conservation programs and alternative energy production from wind, solar and other renewable, clean resources.
The federal funding will help reduce AEP’s cost of demonstrating new technology, company spokesman Pat Hemlepp said.
Taxpayers are being called on to expand a project intended to demonstrate how emissions from a coal-burning power plant can be captured and injected underground for long-term storage, in an effort to keep them from adding to air pollution.
This month, the U.S. Department of Energy approved $334 million in funding to support an expansion of the American Electric Power Co.’s demonstration project, to make it a commercial-scale effort that would start up in 2015. It would use a chilled-ammonia process to capture at least 90 percent of carbon dioxide from 235 megawatts of the West Virginia plant’s 1,300 megawatts of capacity, treat the substance and then inject it about 1.5 miles underground for permanent storage.
Locally, Dayton Power and Light Co. engineers are watching the AEP project and others like it around the nation to see whether the same process could be used locally. The new technology could reduce pollution from coal-burning plants like those that DP&L relies on to generate electricity.
American Electric Power, a Columbus-based utility which serves customers in 11 states, said it has invested $73 million in the existing demonstration project, begun in early October at its 29-year-old Mountaineer power plant at New Haven, W.Va. The company hopes to persuade regulators in West Virginia and Virginia, whose customers are served by AEP’s network, to allow AEP to pass the project’s costs along to consumers.
The American Electric Power project, and other clean-coal technologies that the utility industry is developing, are aimed at demonstrating reduced-pollution methods of burning coal, an abundant American energy resource.
Utility executives said they believe coal must be part of the nation’s approach to its energy needs, along with energy-efficiency programs and development of alternative energy sources, to satisfy the demand from business and residential consumers. Environmentalists counter that the government should focus on energy conservation programs and alternative energy production from wind, solar and other renewable, clean resources.
The federal funding will help reduce AEP’s cost of demonstrating new technology, company spokesman Pat Hemlepp said.
Isramart :Copenhagen accord keeps Big Carbon in business
Isramart news:
The Copenhagen summit achieved its main aim, to maintain the carbon-trading system established by the Kyoto Protocol, says Christopher Booker
As fairy-tale snow gently descended on Copenhagen, the great global warming conference degenerated through pantomime, boredom, chaos and anger to its entirely predictable conclusion – a colossal pile of fudge with a very hard and nasty rock hidden at its centre. The "world summit" on climate change was never really going to be about saving the world from global warming at all. Even if the delegates had got all they wanted, it would no more have had any influence on emissions of CO2 – let alone on the world's climate – than the 1997 Kyoto Protocol before it.
As was argued in 1997 by Tom Wigley, one of Al Gore's trusted allies and formerly head of the East Anglia Climatic Research Unit, or CRU (recently at the centre of the Climategate scandal over rigged temperature data), even if the world had implemented Kyoto to the full, it would only have delayed global warming by six years. In fact, as was revealed last summer by the German renewable energy institute IWR, CO2 emissions are now 40 per cent above their level in 1990, the baseline Kyoto was meant to return them to.
Copenhagen was not about global warming but money. The cash that Hillary Clinton so dramatically plonked on the table, rising to $100 billion by 2020, which includes the £1.5 billion offered by Gordon Brown (money which of course he hasn't got) and which like a crazed gambler he last week upped to £6 billion (even more money he hasn't got), was merely a "sweetener" to persuade the developing countries to maintain the money-machine set in motion by Kyoto.
This is the new global industry based on buying and selling the right to emit CO2, estimated soon to be worth trillions of dollars a year, which through schemes such as the UN's Clean Development Mechanism and the EU's Emissions Trading System is making a small minority of people, including Al Gore, extremely rich.
The only really concrete achievement of Copenhagen was to win agreement to the perpetuating of those Kyoto rules that have created this vast industry, which has two main beneficiaries. On one hand are that small number of people in China and India who have learnt how to work this system to their huge advantage. On the other are all those Western entrepreneurs who have piled into what has become the fastest‑growing commodity market in the world.
The part played at Copenhagen by all the tree-huggers, abetted by the BBC and their media allies, was to keep hysteria over warming at fever pitch while the politicians haggled over the real prize, to keep the Kyoto system in place.
The only tree they were concerned with hugging was the money tree and all the vast political apparatus that now supports it, allowing governments to tax and regulate us into handing over ever more of our money, largely without realising it, every time we drive a car, fly in a plane, pay our electricity bill or carry out any of a vast range of activities that involve the emission of CO2. Compared with these sums, even the billions we all unwittingly spend on subsidies to the developers of useless wind turbines are chicken feed.
It was timely that while the gabfest and the backstairs haggling were continuing in that dreary concrete shed, further shocking evidence should have been released to show how the Met Office's Hadley Centre and the CRU have been rigging the most important of all the four official global temperature records. HadCRUT, as it is called, constructed by Hadley and the CRU from raw data supplied from weather stations all over the globe, is relied on by the Intergovernmental Panel on Climate Change (IPCC) as the most prestigious temperature record we have.
What was released last week from Russia was evidence that the stars of Climategate have been cherry-picking the temperature data they receive from Russia, to use only the 25 per cent of the data that makes for a warming trend. Put it together with all the data they have suppressed and what emerges is a trend over the past 80 years that remains flat, showing no net warming at all. Yet this is the most oft-cited of all the temperature records on which the whole global warming scare of recent decades has been built.
Naturally none of this was allowed to percolate the discussions in Copenhagen where, behind all the playacting and flim-flam of the stage army of activists (most of them subsidised by the world's taxpayers), the only real concern was to maintain the greatest financial scam the world has ever seen.
The Copenhagen summit achieved its main aim, to maintain the carbon-trading system established by the Kyoto Protocol, says Christopher Booker
As fairy-tale snow gently descended on Copenhagen, the great global warming conference degenerated through pantomime, boredom, chaos and anger to its entirely predictable conclusion – a colossal pile of fudge with a very hard and nasty rock hidden at its centre. The "world summit" on climate change was never really going to be about saving the world from global warming at all. Even if the delegates had got all they wanted, it would no more have had any influence on emissions of CO2 – let alone on the world's climate – than the 1997 Kyoto Protocol before it.
As was argued in 1997 by Tom Wigley, one of Al Gore's trusted allies and formerly head of the East Anglia Climatic Research Unit, or CRU (recently at the centre of the Climategate scandal over rigged temperature data), even if the world had implemented Kyoto to the full, it would only have delayed global warming by six years. In fact, as was revealed last summer by the German renewable energy institute IWR, CO2 emissions are now 40 per cent above their level in 1990, the baseline Kyoto was meant to return them to.
Copenhagen was not about global warming but money. The cash that Hillary Clinton so dramatically plonked on the table, rising to $100 billion by 2020, which includes the £1.5 billion offered by Gordon Brown (money which of course he hasn't got) and which like a crazed gambler he last week upped to £6 billion (even more money he hasn't got), was merely a "sweetener" to persuade the developing countries to maintain the money-machine set in motion by Kyoto.
This is the new global industry based on buying and selling the right to emit CO2, estimated soon to be worth trillions of dollars a year, which through schemes such as the UN's Clean Development Mechanism and the EU's Emissions Trading System is making a small minority of people, including Al Gore, extremely rich.
The only really concrete achievement of Copenhagen was to win agreement to the perpetuating of those Kyoto rules that have created this vast industry, which has two main beneficiaries. On one hand are that small number of people in China and India who have learnt how to work this system to their huge advantage. On the other are all those Western entrepreneurs who have piled into what has become the fastest‑growing commodity market in the world.
The part played at Copenhagen by all the tree-huggers, abetted by the BBC and their media allies, was to keep hysteria over warming at fever pitch while the politicians haggled over the real prize, to keep the Kyoto system in place.
The only tree they were concerned with hugging was the money tree and all the vast political apparatus that now supports it, allowing governments to tax and regulate us into handing over ever more of our money, largely without realising it, every time we drive a car, fly in a plane, pay our electricity bill or carry out any of a vast range of activities that involve the emission of CO2. Compared with these sums, even the billions we all unwittingly spend on subsidies to the developers of useless wind turbines are chicken feed.
It was timely that while the gabfest and the backstairs haggling were continuing in that dreary concrete shed, further shocking evidence should have been released to show how the Met Office's Hadley Centre and the CRU have been rigging the most important of all the four official global temperature records. HadCRUT, as it is called, constructed by Hadley and the CRU from raw data supplied from weather stations all over the globe, is relied on by the Intergovernmental Panel on Climate Change (IPCC) as the most prestigious temperature record we have.
What was released last week from Russia was evidence that the stars of Climategate have been cherry-picking the temperature data they receive from Russia, to use only the 25 per cent of the data that makes for a warming trend. Put it together with all the data they have suppressed and what emerges is a trend over the past 80 years that remains flat, showing no net warming at all. Yet this is the most oft-cited of all the temperature records on which the whole global warming scare of recent decades has been built.
Naturally none of this was allowed to percolate the discussions in Copenhagen where, behind all the playacting and flim-flam of the stage army of activists (most of them subsidised by the world's taxpayers), the only real concern was to maintain the greatest financial scam the world has ever seen.
Isramart :Delhi Metro on track to earn carbon credits
Isramart news:
While the Copenhagen summit failed to get all countries on board on the issue of climate change, the Delhi Metro Rail Corporation (DMRC) claims to have carved out a green path for itself.
The DMRC has submitted a Clean Development Mechanism (CDM) proposal to the Ministry of Environment and Forests to earn carbon credits for the ‘modal shift’ of Metro commuters. The logic: Metro commuters are preventing carbon emissions by using public transport, as opposed to private cars.
The ministry is considering the project. If it comes through, it is likely to open doors for similar CDM projects for other public transport systems — the CNG-run Bus Rapid Transit system, for example, could be one.
Another CDM project of the Delhi Metro — saving energy through ‘regenerative’ braking in trains — has also begun to rake in carbon credits. This makes Delhi Metro the first government agency in the Capital, and the first railway system in the world, to earn carbon credits. Under the same project, DMRC will now earn credits for its first phase of operation — between 2004 and 2007.
While the Copenhagen summit failed to get all countries on board on the issue of climate change, the Delhi Metro Rail Corporation (DMRC) claims to have carved out a green path for itself.
The DMRC has submitted a Clean Development Mechanism (CDM) proposal to the Ministry of Environment and Forests to earn carbon credits for the ‘modal shift’ of Metro commuters. The logic: Metro commuters are preventing carbon emissions by using public transport, as opposed to private cars.
The ministry is considering the project. If it comes through, it is likely to open doors for similar CDM projects for other public transport systems — the CNG-run Bus Rapid Transit system, for example, could be one.
Another CDM project of the Delhi Metro — saving energy through ‘regenerative’ braking in trains — has also begun to rake in carbon credits. This makes Delhi Metro the first government agency in the Capital, and the first railway system in the world, to earn carbon credits. Under the same project, DMRC will now earn credits for its first phase of operation — between 2004 and 2007.
Isramart : Veritable gold rush for some as carbon trading looms
Isramart news:
Well it's not surprising that members of the UN's International Panel on Climate Change (IPCC) are eager to get the rich countries of the world to sign on to plan to pour billions if not trillions of dollars into a fund to help fight the effects of global warming on poorer, developing nations around the world.
The European Union's "carbon credit" scheme, one set up to reduce carbon emissions in Europe and one of many schemes being tossed around in Copenhagen, could prove to be a cash cow for IPCC chairman Rajendra K. Pachauri.
Pachauri, who has ties to Tata, a Mumbai-based Indian multinational conglomerate with business interests in a number of European steel making companies, stands to profit hundreds of millions of dollars by cashing in carbon credits it got from the EU just by closing Corus Redcar, a steel plant in England. More than 1,700 people will lose their jobs.
"Dr. Pachauri was, of course, the lead author on the IPCC's second report which paved the way to Kyoto — which in turn ushered in the first carbon trading schemes," writes James Delingpole in the Telegraph of London.
The European Union's experiment to reduce carbon emissions has been a complete failure from its inception in 2005. Instead of reducing emissions, the EU's Emission Trading Scheme (ETS) actually allows European businesses to avoid emission reductions at home by offsetting, meaning paying for cuts to be made overseas instead. Cap-and-trade carbon markets have done nothing to reduce emissions.
Throwing more tax dollars at a "problem" that may not even be a "problem" hasn't worked in Europe and won't work here or anywhere else.
Dr. Bjorn Lomborg, a Danish economist who Al Gore refuses to debate, has never disputed the fact that developing nations require financial assistance to rid themselves of poverty, hunger and disease but taxing carbon, he says, is not the way to go. Lomborg has predicted $9 a litre gasoline if countries follow the European plan of buying and selling carbon credits.
Signatories of the Kyoto Accord have failed to live up to their commitments to reduce carbon emissions and, in fact, have increased carbon emissions, but global temperatures have remained stable with a .07 +/- .07 degree C from 1999 to 2008, not the .20 C rise expected by the IPCC.
Lomborg says that for every dollar spent on reducing carbon emissions you only get $0.02 of benefit. That is money well spent?
The pot of gold that is created through these emissions trading schemes should be aimed at solving specific problems that exist around the globe and not lining the pockets of unelected UN bureaucrats who stand to gain the most.
Richard Lindzen, Professor of Atmospheric Sciences at MIT, said it best: 'Such hysteria (over global warming) simply represents the scientific illiteracy of much of the public, the susceptibility of the public to the substitution of repetition for truth."
Well it's not surprising that members of the UN's International Panel on Climate Change (IPCC) are eager to get the rich countries of the world to sign on to plan to pour billions if not trillions of dollars into a fund to help fight the effects of global warming on poorer, developing nations around the world.
The European Union's "carbon credit" scheme, one set up to reduce carbon emissions in Europe and one of many schemes being tossed around in Copenhagen, could prove to be a cash cow for IPCC chairman Rajendra K. Pachauri.
Pachauri, who has ties to Tata, a Mumbai-based Indian multinational conglomerate with business interests in a number of European steel making companies, stands to profit hundreds of millions of dollars by cashing in carbon credits it got from the EU just by closing Corus Redcar, a steel plant in England. More than 1,700 people will lose their jobs.
"Dr. Pachauri was, of course, the lead author on the IPCC's second report which paved the way to Kyoto — which in turn ushered in the first carbon trading schemes," writes James Delingpole in the Telegraph of London.
The European Union's experiment to reduce carbon emissions has been a complete failure from its inception in 2005. Instead of reducing emissions, the EU's Emission Trading Scheme (ETS) actually allows European businesses to avoid emission reductions at home by offsetting, meaning paying for cuts to be made overseas instead. Cap-and-trade carbon markets have done nothing to reduce emissions.
Throwing more tax dollars at a "problem" that may not even be a "problem" hasn't worked in Europe and won't work here or anywhere else.
Dr. Bjorn Lomborg, a Danish economist who Al Gore refuses to debate, has never disputed the fact that developing nations require financial assistance to rid themselves of poverty, hunger and disease but taxing carbon, he says, is not the way to go. Lomborg has predicted $9 a litre gasoline if countries follow the European plan of buying and selling carbon credits.
Signatories of the Kyoto Accord have failed to live up to their commitments to reduce carbon emissions and, in fact, have increased carbon emissions, but global temperatures have remained stable with a .07 +/- .07 degree C from 1999 to 2008, not the .20 C rise expected by the IPCC.
Lomborg says that for every dollar spent on reducing carbon emissions you only get $0.02 of benefit. That is money well spent?
The pot of gold that is created through these emissions trading schemes should be aimed at solving specific problems that exist around the globe and not lining the pockets of unelected UN bureaucrats who stand to gain the most.
Richard Lindzen, Professor of Atmospheric Sciences at MIT, said it best: 'Such hysteria (over global warming) simply represents the scientific illiteracy of much of the public, the susceptibility of the public to the substitution of repetition for truth."
Tuesday, December 29, 2009
Isramart :Derivate pe certificatele de emisii de gaze cu efect de sera, la Sibex
Isramart news:
Bursa din Sibiu a lansat contractul futures avind ca activ suport certificatele de emisii de gaze cu efect de sera (EGES) – cu simbolul CO2 RON 2008-2012.
Mărimea contractului este 100 de certificate de emisii de gaze cu efect de sera (EGES), iar pasul de tranzactionare 0,01 lei (un leu/contract). Contractul initiat la inceputul fiecarei sesiuni de tranzactionare are scadenta in aceeasi zi. O singura scadenta zilnica va fi disponibila permanent in timpul sesiunii de tranzactionare.
“Lansarea acestor derivate – ne-a declarat Teodor Ancuta, presedintele Sibex – inseamna patrunderea Sibex pe o piata cu un imens potential. Este stiut ca alocarea certificatelor de emisii este principalul instrument al Uniunii Europene de a lupta impotriva incalzirii globale, iar prin lansarea acestor instrumente in premiera pe piata autohtona de capital Bursa din Sibiu ajuta, practic, Romania sa se alinieze normelor europene care obliga ca aceste certificate sa fie tranzactionate prin burse. De asemenea, speram ca, de acum inainte, existenta unui cadru organizat sa impiedice tranzactionarea acestor certificate prin «inţelegeri prin apartamente» favorabile doar unora, cum s-au făcut la un moment dat”.
Certificatul EGES este titlul care confera dreptul de a emite o tona de dioxid de carbon echivalent, intr-o perioada definita valabila numai pentru indeplinirea scopului Hotaririi Guvernului 780/2006 privind infiintarea schemei de comercializare a emisiilor de gaze cu efect de sera si care este transferabil in conditiile prevazute de aceasta hotarire.
Bursa din Sibiu a lansat contractul futures avind ca activ suport certificatele de emisii de gaze cu efect de sera (EGES) – cu simbolul CO2 RON 2008-2012.
Mărimea contractului este 100 de certificate de emisii de gaze cu efect de sera (EGES), iar pasul de tranzactionare 0,01 lei (un leu/contract). Contractul initiat la inceputul fiecarei sesiuni de tranzactionare are scadenta in aceeasi zi. O singura scadenta zilnica va fi disponibila permanent in timpul sesiunii de tranzactionare.
“Lansarea acestor derivate – ne-a declarat Teodor Ancuta, presedintele Sibex – inseamna patrunderea Sibex pe o piata cu un imens potential. Este stiut ca alocarea certificatelor de emisii este principalul instrument al Uniunii Europene de a lupta impotriva incalzirii globale, iar prin lansarea acestor instrumente in premiera pe piata autohtona de capital Bursa din Sibiu ajuta, practic, Romania sa se alinieze normelor europene care obliga ca aceste certificate sa fie tranzactionate prin burse. De asemenea, speram ca, de acum inainte, existenta unui cadru organizat sa impiedice tranzactionarea acestor certificate prin «inţelegeri prin apartamente» favorabile doar unora, cum s-au făcut la un moment dat”.
Certificatul EGES este titlul care confera dreptul de a emite o tona de dioxid de carbon echivalent, intr-o perioada definita valabila numai pentru indeplinirea scopului Hotaririi Guvernului 780/2006 privind infiintarea schemei de comercializare a emisiilor de gaze cu efect de sera si care este transferabil in conditiile prevazute de aceasta hotarire.
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