Column: Coal optimism in Australia hides unease about long-term problems

first_imgColumn: Coal optimism in Australia hides unease about long-term problems FacebookTwitterLinkedInEmailPrint分享Reuters:BRISBANE—Coal miners supplying Asia’s rapidly growing economies have plenty to be optimistic about as prices and demand appear robust, but they should be wary of getting caught up in the positive feedback loop that nearly destroyed them before.This week’s inaugural Energy Mines and Money conference in Brisbane, the heartland of the industry in top coal exporter Australia, was a sea of optimism about the outlook for the industry. Prices have been on an upward trend since bottoming in 2016 after five years of losses, and miners are once again making good profits amid strong demand from top importers China and India, new consumers such as Pakistan and the reliable veteran buyers like Japan and South Korea.But at the back of the minds of many Australian miners is the fear that they have seen this movie before, and they don’t want the same ending. In 2012, the industry was cock-a-hoop over forecasts that pointed to massive import demand growth in Asia, led by China and India. Problem was it was pretty much all wrong.A well-respected industry consultant and forecaster boldly claimed in early 2012 that China would be importing 1 billion tonnes of coal by 2030, and India would be up to 400 million tonnes. But these forecasts now look hopelessly optimistic, given China’s coal imports were 270.9 million tonnes in 2017. While imports have risen for two years, they are still well below the record 327.2 million tonnes from 2013. While China’s coal imports may rise slightly this year, it’s unlikely they will reach 300 million tonnes, and that 1 billion tonne forecast looks well out of reach.The [new] optimistic forecasts also fail to account for political pressure to move away from coal, not only in China, but increasingly in India. It’s likely that those countries planning on building coal plants powered by imports will also come under mounting pressure from environmental activists, who have become increasingly sophisticated in targeting how coal plants are financed and insured.In fact, if there was another common theme to this week’s conference in Brisbane, it’s that the coal sector still doesn’t fully grasp that array of forces now being deployed against it. The mantra of coal as ‘cheap and reliable and the only way to electrify the masses of people still without power’ was still repeated, and clearly believed.But scratch a little further and miners will tell you of the incredible difficulties in developing projects, with increased government scrutiny and regulation, the rising threat of public opposition and the dearth of financing, notwithstanding a seemingly large pool of investment funds. The inability of India’s Adani to actually start building its Carmichael mine in Queensland, the world’s largest planned mine aimed at supplying the seaborne market, plays on the industry’s mind, as does the virulent public opposition to the mine’s development.More: COLUMN-Resurgent coal exporters should be wary of blinkered optimism: Russelllast_img read more

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Zidane set to offload four more Real Madrid stars

first_img Loading… Real Madrid boss Zinedine Zidane is set to continue his policy of selling squad players ahead of the 2020-21 La Liga campaign. Brahim Diaz has already joined Serie A side AC Milan on a season long loan, with James Rodriguez set to join Everton in the coming days. However, as per the front page of Saturday’s edition of Diario AS, Zidane is aiming to raise up to €100m by offloading Gareth Bale, Sergio Reguilon, Mariano Diaz and Borja Mayoral. Reguilon has been linked with a move to Premier League side Manchester United, after returning from a season long loan spell at Sevilla in 2019-20. Diaz has been lined up to join Benfica on a 12 month loan, with Mayoral previously linked with Valencia, after spending the last two seasons on loan at Levante.Advertisement Read Also: Real Madrid deny splashing €160m to sign Hazard from Chelsea Bale’s future remains the most complex issue for Zidane to resolve in the coming weeks, with his agent Jonathan Barnett to discuss the Welshman’s future with Florentino Perez next week. The 31-year old still has two years to run on his current contract at the Santiago Bernabeu, however, Los Blancos are rumoured to be edging closer to allowing him to leave on a free transfer. FacebookTwitterWhatsAppEmail分享 Promoted Content15 Photos Of Amazingly Beautiful MutationsBest & Worst Celebrity Endorsed Games Ever MadeThe Highest Paid Football Players In The WorldWho Is The Most Powerful Woman On Earth?7 Mesmerizing Facts About Hypnosis11 Most Immersive Game To Play On Your Table TopCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhat Are The Most Delicious Foods Out There?The Funniest Prankster Grandma And Her Grandson6 Incredibly Strange Facts About Hurricanes8 Superfoods For Growing Hair Back And Stimulating Its Growth8 Weird Facts About Coffee That Will Surprise Youlast_img read more

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Westport Winery earns “Outstanding” rating on Message In A Bottle

first_imgFacebook11Tweet0Pin0Submitted by Westport WineryIn the summer issue of Wine Press Northwest, Westport Winery earned an “Outstanding” rating on Message In A Bottle, the latest vintage of their rosé of Sangiovese. This was the largest evaluation of Northwest blush wines in history with 122 entries. Of those, 30 were honored with an “Outstanding” defined by the magazine as having “superior characteristics and should be highly sought after.”Director of Winemaking, Dana Roberts, attributes much of this wine’s success to the grape grower, Mike Sauer of Red Willow Vineyard in the Yakima Valley AVA outside of Wapato, Washington. Roberts said, “Working with Mike is a privilege. He’s a pioneer in the industry with such attention to detail that it makes my job a lot easier. The Grosso clone seems to be the perfect type of Sangiovese to create the ultimate Washington rosé.”The judges said, “Aromas of strawberry freezer jam and raspberry play out on the palate. There’s a drizzle of residual sugar on the entry, yet mouth-watering acidity akin to cranberry and blood orange makes for a zippy and delightful finish.”In 2016 Westport Winery was honored as one of the top twenty most-admired wineries in North America by Winery & Vineyard Management Magazine. It was named 2011 Washington Winery to Watch by Wine Press Northwest. They have been voted Best Winery by King 5 Evening Magazine six times. They were named the Best Washington Family Business Silver Medal winners in 2012, received the Grays Harbor Environmental Stewardship Award in 2015, and were name Best Winery, Best Wine Shop, and Best Boutique Winery for 2016 by South Sound Magazine.Family-friendly Westport Winery Garden Resort, is located on the corner of Highway 105 and South Arbor Road halfway between Aberdeen and Westport. The resort (including the restaurant, bakery, plant nursery and 15-acre display garden) is open daily or breakfast, lunch, and dinner from 8 a.m. to 7 p.m. Westport Winery’s second store, TASTING @ Cannon Beach, is located at 255 N. Hemlock. The Oregon tasting room is open daily from 11 a.m. to 6 p.m. For more information or reservations call 360-648-2224.Westport Winery Garden Resort1 South Arbor RoadAberdeen, WA  98520360-648-2224Westport Winery Tasting at Cannon Beach255 N. HemlockCannon Beach, OR 97110503-436-4411last_img read more

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