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Hey Steve, Yes it will happen, and when it does the bashers will eat a fatty! Long and strong!
Just hit .059! Thats always nice...
http://gulfnews.com/business/oil-gas/india-sees-coal-reform-blueprint-in-oil-and-gas-1.649001
India sees coal reform blueprint in oil and gas
Investors hopeful of benefiting from market
Reuters
Published: 00:00 July 2, 2010
New Delhi : India plans to steal a page from successful oil and gas exploration reforms to open its antiquated coal mining industry, raising hopes investors will be able to tap into a market where demand is expected to soar.
Breaking the near mon-opoly of state-owned Coal India, the world's largest producer of thermal coal, by inviting domestic and foreign firms to invest — like oil and gas reforms did in 1999 — is seen by the government as a sure-fire way to revive the moribund coal industry.
Companies like Rio Tinto, BHP Billiton and Xstrata would be attracted by mostly thermal coal resources in India, estimated at 267.21 billion tonnes, the fourth largest in the world, analysts say, though they caution that many hurdles stand in the way.
Getting it right will be key to continuing India's breakneck economic expansion, as booming power demand threatens to open a deficit of 100 million tonnes between coal demand and supply, opening opportunities for miners from Australia, Indonesia and South Africa.
"The format is correct. Given that there is extensive private participation in oil and gas one can look at the same structure in coal also," Shubhranshu Patnaik, executive director of PricewaterhouseCoopers in New Delhi, said.
Impact
"But whether it is going to happen or not is an issue because open cast mining in coal, as followed in India, has greater political sensitivities on account of higher environmental and social impacts."
A key part of reforms is to sell 10 per cent of Coal India by September to fetch as much as $2.7 billion to help the company modernise and, like ONGC, work with leading firms in the industry.
Domestic oil production had been forecast to decline before the oil and gas reforms. Instead over the last decade, India's oil production has risen by over five per cent to 673,760 barrels per day in 2009-10, while gas output has risen by about 70 per cent to 47.57 billion cubic metres.
State-owned oil explorer ONGC took advantage of the reforms by selling 10 per cent of its equity in 2004 to raise capital and now works with firms such as local arms of Britain's Cairn, BG Group, BP and India's Reliance Industries.
The oil reforms also mean ONGC and state-owned colleague Oil India are now paid international parity prices for domestic crude instead of much lower state-mandated rates.
In contrast, thermal coal prices in India are still discounted by up to 60 per cent versus international prices to keep power costs down.
While premium coal may soon be priced at a 15 per cent discount to an unspecified international benchmark, speed in ending coal pricing disparities is seen as crucial to attract companies.
Power capacity
"Pricing reform is the most crucial. If inviting global companies you have to make sure they get marketing and pricing freedom," said Nitin Zamre, managing director of consultant ICF International.
Thermal power plants, which accounted for more than 80 per cent of India's 771.17 billion kilowatt-hour output last year, need 595 million tonnes of coal a year by 2012 as India adds more power capacity to close a 13 per cent deficit in supplies.
But Coal India, which produces 87 per cent of the country's coal, and private captive mines, are only able to supply 459 million tonnes, according to Karvy Stockbroking in Hyderabad, forcing the country to import over 100 million tonnes a year in the next two years.
The country is working to expand its ports to handle the load, which would represent a 43 per cent increase over 2009-10 imports.
Sorry to see ya go, but lets weed out the week hands and get on with it!
http://powerplantccs.com/blog/2010/06/us-research-paper-questions-viability-of-carbon-capture-and-storage.html
US research paper says that CCS is an unviable technology
This entry was posted by admin Wednesday, 30 June, 2010
Read the rest of this entry »
A new research paper from Houston University threatens to derail the growing political support for CCS as a tool in the fight against global warming, by claiming that governments have overestimated the viability/value of CCS. It says that it would take a reservoir the size of a small US state to hold the CO2 produced by one power station.In the paper Michael Economides, professor of chemical engineering at Houston, and his co-author Christene Ehlig-Economides, professor of energy engineering at Texas A&M University, argues that previous modeling has hugely underestimated the space needed to store CO2, mainly due to the fact that it was based on the totally erroneous premise that the pressure feeding the carbon into the rock structures would be constant.
“It is like putting a bicycle pump up against a wall. It would be hard to inject CO2 into a closed system without eventually producing so much pressure that it fractured the rock and allowed the carbon to migrate to other zones and possibly escape to the surface,” Economides said.
The paper concludes that CCS “is not a practical means to provide any substantive reduction in CO2 emissions, although it has been repeatedly presented as such by others.”
The report comes at a critical time, for British, French, and other governments worldwide have already started to fast-track a series of CCS prototype schemes as a way of removing carbon from the atmosphere and helping with climate change.
The Carbon Capture and Storage Association (CCSA), which lobbies on behalf of the sector, says Britain is now at the forefront of new technology with a legislative framework in place that offers the opportunity for long-term investment. Projects are proceeding in the US, such as the experimental coal-fired Mountaineer plant in New Haven, West Virginia, which began small-scale carbon capture last year, as well as in Canada, China and other countries.
Jeff Chapman, chief executive of the CCSA, believes that Economides has made inappropriate assumptions about science and geology. He believes the conclusions in the paper are wrong, and says his views are backed up by rebuttals from the Lawrence Berkeley National Laboratory, the Pacific Northwest National laboratory and the American Petroleum Institute.
The British Geological Survey said that it was looking at the findings by Economides, and that it hopes to shortly produce a peer-reviewed analysis.
Economides, who has a PHD from Stanford University, said he had seen the arguments against his paper from the API, and dismissed them as “nonsense”, saying that vested interests are protecting a new concept foisted on the world by geologists without proper thought. He said “I was a practicing petroleum engineer for many years and soon realized that geologists did not understand flow and the laws of physics, against which you can’t argue.”
On the other hand, Chapman points out a successful CCS experiment: Statoil, a Norwegian oil firm, has been injecting CO2 into an old reservoir on the North Sea Sleipner field for some time.
But Economides says the Sleipner scheme involved a million tonnes over three years, while one 500 MW commercial station would need to absorb and store 3 million tonnes annually for 25 years. Economides, who admits he veers towards being a climate change skeptic, says that the oil and coal industries see these schemes as potential solutions so they can keep on doing what they have been doing in the past, but he basically said that “CCS is the last refuge of the scoundrel”.
Read original article at the Guardian
You will be rewarded! But you know that already...
You are right on Steve! The smart ones are buying all they can because they know the true value of what is going to happen! Even the bashers know the truth, but hate to admit it!
http://cleantechnica.com/2010/06/27/indias-coal-tax-would-generate-650-million-annually-for-the-clean-energy-fund/#more-11838
India’s Coal Tax Would Generate $650 Million Annually for the Clean Energy Fund
Written by Mridul Chadha
Published on June 27th, 2010Posted in Business and Economy, Fossil Fuels, Resources
The Indian government has decided to levy the Clean Energy Cess, or coal tax, on all the coal mined in the country or imported from July 1, 2010. The energy cess was announced by the finance minister Mr. Pranab Mukherjee in this year’s union budget which presented in February.
The Indian government announced the coal tax in order to generate funding for the research, development and deployment of cleaner and renewable energy technologies. A tax of Rs. 50 would be levied on every tonne of coal mined in the country as well as that imported from abroad.
As of April 1 2009, India’s coal reserves stood at 267 billion tonnes. There has been a steady increase in the coal production over the years. The government has a target of mining 461 million tonnes in 2007-08 as against the actual production of 430 million tonnes in 2006-07. Thus the domestic coal mining sector would contribute about $500 million annually while the rest $150 million would be contributed through the import of coal in order to fulfill the demand of 600 million tonnes.
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Coal is the primary source of power generation in India with more than 7o percent of the total electricity generated coming from coal-fired power plants. It is also among the cheapest sources of energy as there are vast reserves of this resource in the country and the dependence on foreign suppliers is far less compared to other resources like oil, natural gas and nuclear fuel. Many analysts, and the Indian government itself, sees coal as a major driving force for the electrification of rural areas as it seems highly cost effective.
However, with India already committed to reducing its carbon intensity by 20 to 25 percent by 2020 from 2005 levels, the strategy of using coal for large-scale rural electrification could hamper its efforts to achieve the carbon intensity reduction targets. In order to meet its clean up targets, offset the carbon emissions, it is necessary that the government invests heavily in the renewable energy technologies. Therefore, the need of a National Clean Energy Fund.
Now instead of complicating the process by introducing a cap-and-trade mechanism for coal mining companies or coal-fired power plants, the government took the smart and easier way of generating funds for financing its clean energy projects. A coal tax presents the simplest of solutions given the lack of infrastructure required for carbon trading in India. Coal mining and production is strictly under the control of the Coal Ministry and hence a close eye can be kept on the total production and, in turn, the prospective revenue generation.
This is a wise move on part of the Indian government; the tax would create a substantial amount of financing for clean energy projects like the National Solar Mission without significantly increasing the consumer utilities.
thats a good size buy! Hope someone is getting ready for a fun week!
Was that 170k a buy? Hope to see some news tomorrow...
http://www.theatlantic.com/business/archive/2010/06/why-carbon-pricing-matters/58386/
Why Carbon Pricing Matters
Jun 18 2010, 4:04 PM ET | Comment
Following the news is easy. Understanding it can be tougher. In our Flashcard series, The Atlantic explains ideas that you've read about, but that the news coverage never spells out. In this installment, we dig into the case for carbon pricing.
The News
President Obama's first Oval Office address on the Gulf oil spill was panned in the press for (among other things) his failure to demand a price for carbon emissions. Senators Joe Lieberman and John Kerry have presented a bill with a carbon price under cap-and-trade, but other Democrats are leaving environmentalists in dismay by pushing energy plans that would skirt the issue entirely. What is a carbon price and why is it so important to the global warming debate?
The Gist
Modern, thriving economies produce a lot of dirty energy. At the current rate, global carbon dioxide emissions will triple by the year 2100. Many scientists project a five-to-six degree increase in temperatures over the next century, which would trigger unknowable shifts in sea levels, air quality and natural resources. If we want to slow global warming, we have to slow carbon emissions.
When something is free, you tend to use more of it. It's true for buffets and open bars, and it's the same with carbon. Today producers and consumers can burn coal and drive gas-guzzlers without fully paying for their contribution to rising carbon dioxide levels. Carbon emissions have a cost, but carbon emitters don't pay the price. Economists call this a "market failure." You can call it, "a recipe for toasting the planet."
We normally talk about two ways to price carbon: a carbon tax or a cap-and-trade system. These policies would be imposed on producers, but it's easier to think about them as if they focused on you. Imagine the government added 75 cents to every gallon of gasoline. You'd strongly consider using less of it. That's the carbon tax. Now imagine the government limited every American's driving privileges to 100 miles per week. That's a cap. If I needed to drive more, I'd "buy" extra miles from my friend who drives less. That's the trade. Both policies raise the price of carbon in the hopes that producers shift toward cleaner technologies and consumers use less dirty energy.
The Debate
There are basically three arguments against carbon pricing that enclose each other like Russian nesting dolls. The Big Doll objection is that global warming is not real. The Medium Doll objection is that global warming is real, but we're exaggerating its negative consequences -- or we're not sure emissions are to blame. The Small Doll objection is that global warming is real, and we're not exaggerating its negative consequences, but we should focus on less ambitious solutions, like targeted subsidies for low-carbon technologies (e.g., cash for wind farms, sun panels, grassy roofs...).
The Big Doll objection is almost certainly wrong. The Medium Doll objection is serious, but at the very least, climate change policy should be considered as social insurance against the likelihood of global climate catastrophe. The Small Doll objection is misguided because it assumes the government knows which technologies to fund. It's better to assume the government knows nothing about technology, period. Carbon prices send a price signal but allow the private economy to determine how to save money and create the smartest energy technologies without the government's big thumb on the scale.
There are some legitimate arguments about setting a carbon price that is too high, especially if other countries continue to pursue cheap and dirty energy. But an appropriate carbon price can achieve two goals. First, we nudge the private economy toward green tech in anticipation of rabid worldwide demand for clean energy in the next century. Second, government can use any profits from carbon prices to pay down the deficit and even reduce other taxes on Americans.
I was able to grab some today @ .065 Keep averaging down... What are the chances of news hitting today after hours? More likely maybe monday morn.
I have my buy orders set and ready! Level 2 is improving.
Come on man its old news!
It soounds good, but old news! Maybe there can be a June 18 2010???
its from Jun 18, 2009!!!
Nice find! Now thanks for a great post... Its good to see some legit DD. Funding will happen!
lol. Thats funny Bob! Made me laugh. GL to all longs!
IMO there are many shorting this stock, and we could see a major short squeeze when news is released... I would not want to be short!
Thanks JB- I have just been on quite the roller coaster the last few months and just needed to vent. I am holding long for the biggger gains!
Thanks Edurk! That is very informative/helpful. GL
Look at you!!! Waiting for that perfect moment to prey on the weak... You are pathetic! We know why we invested in this stock and dont need you to save us... You will be long gone when news hits. Get a life.
I will be here to see it! Wether it happens tomorrow, or a few months from now! I will buy more along the way even if its a few thousand at a time... GL
Good points 50! Hope no one is giving up at this point... It is discouraging, but keep your eyes on the prize ( even though it might be hard). Thats why its called investing not gambling...
Yeah I agree with you on that point, and I am still long on this stock. I dont like to see Doug sell, but believe he needs the money for important things pertaining to the company... I also just got off the phone with Wayne Crumpley who I spoke with for about a half an hour... He is a great person to speak with and get insight on the company going forward. Basically it boils down to this... Once the gold seal is received from China (soon), and we get the TLA from India ( soon as well) the company will have a way easier time moving forward... I do know now that at this price I wish I could buy hands over fist because longer term CCTC will be in a lot better position to get contracts, funding and other components that will enable the company to thrive!!! I am just telling you what I feel very strongly about, and Funseeker will tell you differently! Its a free country (still) and you will hear both sides. Take it for what its worth... My money is on CCTC coming out on top! GL Longs your patience will be rewarded!!!
I really dont think it that big of a deal! Yeah I am concerned, but Doug needs money for different reasons that we dont really know. The company is moving forward, and we all will hopefully find out real soon... IMO this planned sale is nothing to be alarmed about.
He sold 895,000 shares for around 63,000$ which leaves him with just over 9 million shares.
I am very cluelesss at this point... Just when I start getting a positive feeling that we are close, Doug puts me in my place! This is crazy I tell ya.
Hope Doug is selling before news... It doesnt make much sense, but I heard of this happening before with CEO's and news! Anybody else heard of that? Wrong time to be selling Doug when news is close!!!
See Doug sold more shares... Damn it!
http://ih.advfn.com/p.php?pid=nmona&article=43261264&symbol=NO%5ECCTC
Thats why I am not going anywhere anytime soon... People will panic if nothing is heard this week, and I will pick up more shares! I would be more concerned if nothing is heard from by the end of June IMO. This stock is a more like a marathon, not a sprint!
longer term this stock could really make some noise! If you flip that is your choice... I am in for a longer period of time!
That site means nothing! News would trump everything...
What a crappy day for CCTC! Another red day when we should be running up into news... This is unreal.
I am sick and tired of hearing about the CCS method of CCT! IMO, CCTC has a far more superior way cleaning coal with more benefits!!! Hope it will catch on, and be known as such...
A lot of eyes on CCTC right now! Many waiting for news it seems...
Good morning everyone! GL longs, and lets see some green today! Good things are coming people!
Is that what color that is? have not seen that one in a while. lOl
Hope next week is a good one!