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‘Adani’s Carmichael Mine Is Just Not Going to Happen’

first_img FacebookTwitterLinkedInEmailPrint分享Michael West for the Sydney Morning Herald:Much is the wailing and gnashing of teeth at the move by the Queensland government to approve the project but this approval is entirely political.The evidence is compelling. Carmichael is the whitest of white elephants.  It is all about the appearance of commitment to jobs, jobs that will never occur unless the coal price doubles, and it is about the government not getting bashed up by the opposition for being anti-jobs and abandoning its election commitments.Even Adani is coy. No sooner had the Indian conglomerate been granted approval than it deferred the project for another year. Buried in the detail of its press release was this: “opportunity for final investment decision and construction in 2017”.Reaching “final investment decision” would require willing financiers with a cool $10 billion just for Phase One. But Adani’s bankers have long since fled the scene.There would be no taxpayer support nor “dredging [of the reef] at Abbot Point [port] until Adani demonstrates financial closure,” said Resources Minister Anthony Lynham.Which brings us to the real world, financial closure; not only is the project “bankerless” but, apart from the Australian government, which is “energy-policyless”, the real world has moved on, quickly.The head of the world’s biggest power provider, chairman Liu Zhenya of China’s State Grid Corporation, recently told a US energy conference the ramp-up of renewable energy and ongoing integration of wind and solar power projects into the grid were gathering pace.“A fundamental solution [to address power needs and climate change] is to accelerate clean energy,” Liu told his audience of energy executives. The eventual aim was “replacing coal and oil.”The rapid build-up of renewables can be deployed quickly and economically. “Clean energy is competitive,” said Lui. “The only hurdle to overcome is mindset. There’s no technical challenge at all.”This, and equally enlightened energy policy in India, lies in stark relief to the utterances of the Australian resources-led regime, whose unwavering commitment to new fossil-fuel projects is quite bizarre, as though it is wilfully ignoring global realities, even economic realities, by flooding an already depressed market with new sources of supply.China Shenhua Energy Co, the world’s second-largest coal miner, declared last week it had delayed construction on more than 80 per cent of its coal-fired plants.Its 2015 annual report cites a 55 per cent decline in net profit to $US2.7 billion on a 30 per cent year-on-year decline in revenue.Domestic coal consumption in China fell 5 per cent in 2015, said  Shenhua, whose own coal sales were down 18 per cent, and it forecasts a further 8.4 per cent decline in its Chinese coal sales volumes this year. Australia is now competing against Shenhua, as an exporter.Its Watermark project in NSW, apparently still in train, is yet to win board approval and according to the Institute for Energy Economic and Financial Analysis (IEEFA), a green think-tank whose market forecasts have been spot on, Watermark is “inconsistent with Shenhua’s rapidly changing strategic direction”.Full article: Adani’s Carmichael Mine Is Just Not Going to Happen ‘Adani’s Carmichael Mine Is Just Not Going to Happen’last_img read more

December 31, 2020 0

Footballer Shot, Killed in Island Clinic Home

first_imgOne-year-old Sonell D. Wleh will not get to play with his father, Prince Toby Wleh.The 27-year-old footballer, who recently joined first division club, Gedi & Sons, was reportedly shot and killed last Friday night, according to his younger brother, William B. Wleh.The newly signed on player for Gedi & Sons died at the Redemption Hospital; the body was later transferred to the A. B. Anderson Funeral Home, according to family sources.“This is an unfortunate situation to befall a footballer,” said former NPA star player, Jonathan Armah Baxter, during an interview yesterday. “The whole community is affected by his murder.”The incident occurred near his mother’s residence in Island Clinic, Monrovia, by assailants that have not been identified.The victim was a freshman student at the UMU and wanted to become a biologist, according to family sources.Older sister Celestine Wleh told the Daily Observer Saturday afternoon that the family is confused and is asking anyone with information that could lead to the assailants to contact the police.“We don’t know why my brother was targeted and who did it,” Celestine said. “Up to now we are still asking why my brother died.”The Observer learned that the victim took part in a just ended community soccer tournament sponsored by Hon. Edward Forh, held at the St. Paul Bridge area.A family member said there were reports of some confusion at the end of the tournament, and the final game was awarded to Island Clinic, where the victim was a star player.“He became the highest goal scorer as well as the Most Valuable Player; and he was expected to have been honored on Saturday, March 2,” the family member said, “but as it happened, he was killed on March 1.”However, all efforts by the Daily Observer  to garner any confirmation on the alleged confusion that erupted at the end of the tournament proved futile.Police officers visited the crime scene, and the only person of interest was the bike driver who notified the victim’s younger brother about the condition of his brother, sources told the Daily Observer.Mr. B. Alphonso Armah, Secretary General of the Liberia Football Association, condemned the murder of Prince Wleh and told the Daily Observer yesterday that an investigation will be conducted by the LFA.“This is a shame to Liberian football,” Secretary General Armah said. “We express our condolences to the family.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

January 18, 2020 0