Category:

Panel forces indictment of former Tepco executives over Fukushima: Kyodo

Big black plastic bags containing radiated soil, leaves and debris from the decontamination operation are dumped at a seaside, devastated by the March 11, 2011 earthquake and tsunami in Tomioka town, Fukushima prefecture, near Tokyo Electric Power Co’s (TEPCO)… A Japanese citizens’ panel ruled on Friday that three former Tokyo Electric Power executives should be indicted over their handling of the 2011 Fukushima nuclear disaster, Kyodo news agency said. Tokyo prosecutors in January rejected the rarely used panel’s judgment that the three should be indicted, citing insufficient evidence. But the 11 unidentified citizens on the panel forced the indictment after a second vote, which holds sway over the prosecutors’ decision. (Reporting by Osamu Tsukimori; Editing by Nick Macfie )

Posted On : Published By : Tom Whipple
Category:

How potato could solve China’s future food needs

In China, rice is often at the centre of its national cuisine and its dinner tables. Yet the Chinese government has recently set its eyes on a new staple: the potato. A starchy building block for many European meals, the potato crop could offer a solution to food security issues in China, where one-fifth of the world’s population lives. Beijing was recently the host of a World Potato Congress, which gathered experts to discuss the future of potato farming and sales in China. Government officials say that the quality of the potato crop in China is high, yielding many healthy varieties. The potato is also a low-maintenance crop, requiring less land and water than rice. Yet local consumers might not be willing to accept a new presence on their plates. For many Chinese, the potato is only a culinary accessory, not the main star. "We will have it like […]

Posted On : Published By : Tom Whipple
Category:

China targets high-frequency traders in ‘spoofing’ probe

Newspaper + Premium online Premium online Full FT.com subscription Standard online Full news & archive Registration 3 articles per month Price Monthly Annual £76.00 £13.50 per week (52 weeks in total) £42.00 £7.35 per week (52 weeks in total) £30.00 £5.35 per week (52 weeks in total) Free FT Alphaville plus selected FT blogs FT Alphaville and more Unlimited access to Alphaville, the FT’s popular finance blog, plus many other FT blogs featuring comment and analysis from top columnists Gavyn Davies on macroeconomics, economic policy making & financial markets The Westminster blog covering the UK’s political scene Dispatches from FT experts in San Francisco, London & Taipei on Tech blog The World blog on international affairs yes yes yes yes Unlimited FT.com article access Unlimited FT.com article access Enjoy full access to FT.com’s award-winning news, comment and analysis. With over 500 journalists reporting from over 50 countries, read our […]

Posted On : Published By : Tom Whipple
Category:

5 Things To Watch In Friday’s Oil-Supply Report

More than a year after the oil-price slump began, traders are desperate to determine whether U.S. crude-oil production has started to decline in response to low prices. Mixed and delayed data from the federal government have added to the uncertainty. Market watchers are hoping the next monthly government report, which will offer the first data for May, will help clear up some of the confusion. Here are five things to watch when the U.S. Energy Information Administration, the data-gathering arm of the Energy Department, releases its Petroleum Supply Monthly, expected at 2 p.m. EDT on Friday.

Posted On : Published By : Tom Whipple
Category:

Evidence Released at TransCanada’s Keystone XL Permit Renewal Hearing Sheds Light On Serious Pipeline Risks

Just because TransCanada continually states that the Keystone XL pipeline will be the safest pipeline ever built, doesn’t mean it is true. The company’s pipeline construction record is facing intense scrutiny in America’s heartland, where many see no justifiable rationale to risk their water and agricultural lands for a tar sands export pipeline . New documents submitted as evidence in the Keystone XL permitting process in South Dakota — including one published here on DeSmog for the first time publicly — paint a troubling picture of the company’s shoddy construction mishaps. This document, produced by TransCanada and signed by two company executives, details the results of its investigation into the “root cause” of the corrosion problems discovered on the Keystone pipeline. TransCanada Corporation is continuing its push to build the northern route of the Keystone XL pipeline. On July 27, the company appeared at a hearing in Pierre, South […]

Posted On : Published By : Tom Whipple
Category:

Bakken Driller’s Reset Points to More Pressure on Oil

The Bakken-shale-focused oil-and-gas producer uttered the “F” word in its 2016 outlook: Fifty. That is the oil price underpinning its cash-flow and production targets for next year. It is slightly above where the price is now but fully one-fifth below the consensus forecast. Whiting’s shares plunged 6% on Thursday. The bigger story from Whiting’s uncharacteristic display of hunkering down is its bearish implication for oil prices. First, consider that based on $50 oil, Whiting plans to lay out $1 billion on capital expenditure in 2016, equal to projected cash flow. That would be a 53% cut in investment versus guidance for this year, leading to just an expected 10% drop in output. That reflects productivity gains with Whiting reporting output gains of 40% to 50% in some recently completed wells. Second, Whiting also said Thursday that its budget is “flexible.” There is a certain irony in this: The company […]

Posted On : Published By : Tom Whipple
Category:

Canadian Oil Sands Posts Loss on Lower Crude Prices

CALGARY, Alberta— Canadian Oil Sands Ltd. COSWF 0.90 % on Thursday reported a net loss in the second quarter, citing lower prices for its crude and the effect of a two percentage point corporate tax hike in the Western Canadian province where it operates. The largest owner of the Syncrude oil sands project in northern Alberta lost 128 million Canadian dollars ($98.4 million), or 26 Canadian cents a share, in the three months to June 30, compared with a net profit of C$176 million, or 36 Canadian cents a share, in the year-earlier period. It said the loss mainly came from a C$120 million deferred tax expense reflecting an increase in Alberta’s corporate tax rate to 12% from 10% previously. The company also suffered from a global crude oil price drop, which has affected many so-called unconventional producers of oil-sands crude and shale oil. Citing expenses in excess of […]

Posted On : Published By : Tom Whipple
Category:

EPA Emissions Rule Sticks to Tough Targets

WASHINGTON—Final Environmental Protection Agency regulations to cut emissions from U.S. power plants are expected to maintain ambitious emission-reduction targets included in a draft proposal released last year but give companies more time to meet them, according to people familiar with the rule. In another change likely to be welcomed by the electricity industry, the plan is expected to encourage nuclear power generation. The EPA rule, the cornerstone of President Barack Obama ’s climate agenda, will put the first-ever federal limits on carbon emissions from power plants, including those now in operation and those not yet built, forcing operators to move toward cleaner-burning fuels. It is expected to be released as soon as Monday. Republicans and some Democrats on Capitol Hill, along with the coal industry and governors whose states rely on coal for much of their electricity, strongly oppose the rules and are likely to challenge them on Capitol […]

Posted On : Published By : Tom Whipple
Category:

EIA reports show different aspects of U.S. oil production statistics and trends

graph of U.S. crude oil production, as explained in the article text Source: U.S. Energy Information Administration, Petroleum Supply Monthly , Weekly Petroleum Status Report , Drilling Productivity Report , Short-Term Energy Outlook EIA publishes several reports covering current crude oil and natural gas production conditions and how recent trends may affect the near-term outlook for the oil and gas industry. Each EIA product is distinct in its purpose, methodology, timeframe, and regional coverage. Some reports are considered estimates of actual production volumes, while others focus on future production. The Petroleum Supply Monthly (PSM) reports estimates of crude oil and petroleum products production, imports and exports, movements, and inventories on a national and regional level, lagged by two months. PSM estimates of crude oil production rely on several sources, including administrative data from state and federal agencies, the EIA-182 survey of crude oil purchase volumes, and administrative data from […]

Posted On : Published By : Tom Whipple