Tag Archives: China

Climate clippings 180

1. Tesla car drives owner to hospital, saves his life

Missouri lawyer Joshua Neally was driving his Tesla Model X home from his office when he suffered piercing pain in his stomach and chest. Rather than call an ambulance he set his Tesla Model X in self-driving mode and headed for a hospital 20 miles (32km) down the road. He was able to park it and check himself in.

He suffered a pulmonary, a potentially fatal obstruction of a blood vessel in the lungs. Very probably, the car saved his life. Continue reading Climate clippings 180

Climate clippings 166

1. Temperatures could be rising faster than we thought

Using a new model, researchers from the University of Queensland and Griffith University, predict the global average temperature could rise by 1.5°C as early as 2020. The model is based on forecasts of population and economic growth combined with rising per capita energy consumption. Continue reading Climate clippings 166

Climate clippings 162

1. China putting the brakes on coal

China exponentially increased its use of coal in the early part of this century, so that 64% of its energy comes from coal. Now studies suggest that coal use in China declined in 2014 and may have peaked in 2013. No new mines will be approved in the next three years. Continue reading Climate clippings 162

Climate clippings 159

1. Greg Hunt the worst environment minister ever

I’ve just discovered this one from August, where Ben Eltham unloads on Greg Hunt, calling him our first minister for pollution:

    There are no kind words that can be said about Greg Hunt. When it comes to protecting the environment he is useless, and actually seems to revel in eviscerating the portfolio he is responsible for. Continue reading Climate clippings 159

The strange case of baby formula and the Chinese

About 20 million children are born each year in China, and all but a quarter are bottle fed. Several brands of formula in Australia and New Zealand are disappearing from the shelves and being shipped to China, where they are selling for up to $100 per tin, five times the price in Australia. Continue reading The strange case of baby formula and the Chinese

Saturday salon 14/11

1. Rocky Horror Picture Show turns 40

When it opened in 1975 The Rocky Horror Picture Show was a bit of a flop, but then it rocketed to cult status and has never been off the screens since.

    Rocky Horror is full of strange bits and bobs: literally in its props and costumes and otherwise in madcap humour, lashes of pop culture references and the behaviour of an assortment of loony sexually liberated characters. It seems to takes place in a vacuum divorced from both time and space and the conventions of cinema – a garish, swirling patchwork joyfully here and there.

Continue reading Saturday salon 14/11

Will the bubble burst?

Seven years ago we were in Amsterdam airport departure lounge when the news came through that Lehman Bros would indeed go bust, which finally triggered the GFC (Global Financial Crisis).

James Headway, Chief Economist for the New Economics Foundation takes a look at what’s happening in China, and it’s scary.

China escaped by letting lending rip. Since then they have produced half the world’s growth. But in doing so they have created a giant property bubble, followed by a share market bubble. It looks like coming unstuck. Continue reading Will the bubble burst?

Saturday salon 20/6: late edition

1. Paying people smugglers

The story of the week was perhaps The Abbott Government’s paying people smugglers to turn back a boatload of asylum seekers to Indonesia.

Indonesia’s foreign ministry says it believes the payments were made. It seems pretty obvious that they were. Continue reading Saturday salon 20/6: late edition

Climate clippings 136

1. Will Hillary Clinton be too weak on climate change?

Clinton_82a8efb1-4abb-41ab-ab60-22fbbcb08b78-1020x612_500

Campaign chair John Podesta tweeted:

Helping working families succeed, building small businesses, tackling climate change & clean energy. Top of the agenda.

Yet she herself has mentioned it only obliquely since announcing that she’s running. From the past we have this:

At the National Clean Energy Summit in September of last year, in her first major domestic policy address since stepping down from the state department, Clinton described global warming as “the most consequential, urgent, sweeping collection of challenges we face as a nation and a world”. Continue reading Climate clippings 136

Climate clippings 110

1. 25 climate change disasters

Business Insider, Australia tells us that 25 disasters may befall us from climate change. The assumptions are conservative – 2°C and half a metre of sea level rise by 2100, though the text sometimes specifies more. Some of the predictions are disturbing: Continue reading Climate clippings 110

Australia trashes its renewables industry

Climate Progress has picked up on the story:Australia’s clean energy development plummets below Algeria, Myanmar, Thailand, and Uruguay .

Large scale clean energy development is basically dead in Australia, thanks to the Abbott Government’s negativity and delays. Giles Parkinson says that the Government is effectively trashing the industry:

Bloomberg New Energy Finance data shows that Australia is on track to record its lowest level of asset financing for large-scale renewables since 2002 – as just $193 million was committed in the third quarter of the year. From ranking No 11, in the world in 2013, Australia has fallen behind Algeria and even Myanmar.

This graph tells the story:

bnef-investment-590x308

Australia, which should be one of the world’s leaders in the industry, is seeing its industry collapse. The three biggest Australian investors in renewable energy are in deep trouble.

Industry Funds Management is being forced to write down the value of Pacific Hydro, the largest specialised investor in renewables in the country, by $685 million, according to the Australian Financial Review. This from a business that was to have been floated a year or so ago with a value of more than $2 billion.

Infigen Energy, the largest listed investor in renewables, has said it is facing massive writedowns, and potentially taking dramatic action to protect shareholder funds. It has brought Australian investments to a halt. So has Silex Systems, which has effectively abandoned the solar industry.

International investors have also made clear that their investment in Australia will end soon un less policy stability is restored. These include First Solar, Chinese wind turbine leader Goldwind, and numerous others. The US-based Recurrent Energy has already packed its bags, Spanish based FRV has said its $1.5 billion pipeline is at risk.

Australia’s year-to-date investment of $238 million in large-scale renewables development so far this year compares to Canada’s $3.1 billion.

The world leaders are now China and Japan.

China may add more than 14 gigawatts of solar capacity this year — almost a third of the global total, according to BNEF.

China is fast approaching its goal of installing 35 gigawatts of solar by the end of 2015.

Apparently they believe in picking winners and subsidies, as does Japan:

Japan, the world’s second-largest solar market, increased spending 17 percent to $8.6 billion in the third quarter. Japan has approved about 72,000 megawatts of clean energy projects since the country’s feed-in tariff program started in 2012, with about 96 percent being solar projects.

Meanwhile the LNP have entered into negotiations with Labor on the Renewable Energy Target, presumably having given up on PUP and the cross bench. Labor seems to favour a numerical target similar to the status quo, whereas the LNP favours an actual 20% target, which would be a reduction and disastrous for the industry. Labor seems to be prevailing. There is talk of an exemption for aluminium processing.

We’ll have to wait and see whether what comes out is too little too late, and whether the LNP plays fast and loose with yet another industry sector.