All Solar, Et Al, In 12 Years?

[Evincere]

but you still have the issue of running the world after 5 pm and peak electric usage often comes about 4 pm to 8 pm.

And when it snows,
and when it rains,
and when it's cloudy.

.

.

What about when its hot? When its hot, its hot everywhere.

 

[Terrel L. Shields]

Except in Lake Wobegon, where all the children are above average...

 

[Meandering]

What about when its hot? When its hot, its hot everywhere.

Might be hot by you,

But tonight it's going to be 56 degrees here.

.

 

[Meandering]

What can an appraiser say?


A $600 million coal mine just sold for less than $1

On Thursday, Bloomberg reported that the biggest American producer of coking coal, Alpha Natural Resources, could file for bankruptcy as soon as Monday.

Competitor Walter Energy filed for bankruptcy earlier this month, and several others have done the same this year.

Now, two companies are so pressed by 10-year-low coal prices, that they’ve agreed to sell their jointly owned Australian coking mine for A$1 ($0.73).

Coking coal, also known as metallurgic coal, is used for steel production.

In 2012, the Japan-based Sumitomo bought a 50% stake in the Isaac Plains mine for A$430 million ($314 million), thus valuing it at A$860 ($628 million). On Thursday, Sumitomo and its co-owner — Brazil-based Vale — agreed to sell the company to Stanmore Coal for virtually nothing.

According to a statement from Stanmore on Thursday, Sumitomo and Vale will also pay the buyer for some of the contractual commitments it will now be responsible for. This includes fixed infrastructure changes and working capital requirements.

So why is Stanmore essentially getting paid to take over the mine, its processing facilities, and its rail infrastructure? Well, the company will also assume the A$32 million ($23.5 million) rehabilitation obligation while coking coal prices remain depressed because of oversupply.

The company is optimistic as it takes on this huge risk, however, and plans to restart mining at Isaac Plains in the first half of 2016, while cutting production to only 1.1 Mt per year.

Stanmore purchased the adjacent Wotonga deposit in early July and plans to integrate operations at the sites.

"Isaac Plains provides us with all of the necessary infrastructure and sufficient minable coal to commence mining in 2016, while the neighboring Wotonga deposit is anticipated to provide us with a significant mine life extension at a materially lower cost of production," Nick Jorss, Stanmore’s managing director, said.

"We have carefully assessed over 40 growth opportunities in coal over the past two years before selecting Isaac Plains and Wotonga as the right fit for our strategy and risk appetite," he added. "We are now working hard towards the transition to mining operations to ensure success in what remains a challenging coal market."

http://finance.yahoo.com/news/600-million-coal-mine-just-182000362.html

.

 

[Terrel L. Shields]

The market for Coking coal is generally overseas - India, Brazil, and China being the biggest market. It is for steel production. This is saying that the economy in the BRICs isn't going very well. Coking coal is about $50 a ton. The breakeven price is about $90... Most projects are also very long term and an Australian company is developing a coking coal mine in E. Oklahoma and they are keeping their fingers crossed that by the time they complete the project (2017 or later) the economy will have picked up and they can mine economically. Otherwise, they have blown a Billion for naught.

 

[Meandering]

Our forges closed years ago.

Bethlehem steel is down the street.

Next time you're out this way, I'll point you in that direction. The old steel mill is now a casino, hotel, outdoor amphitheater and shopping mall. The smoke stacks and the buildings are still there.

 

[Randolph Kinney]

We sacrificed those dirty middle-class brown jobs for the new and improved, high paying, green jobs.

BTW - unemployment is the highest green job anyone can get.

 

[ucbruin]

The market for Coking coal is generally overseas - India, Brazil, and China being the biggest market. It is for steel production. This is saying that the economy in the BRICs isn't going very well. Coking coal is about $50 a ton. The breakeven price is about $90... Most projects are also very long term and an Australian company is developing a coking coal mine in E. Oklahoma and they are keeping their fingers crossed that by the time they complete the project (2017 or later) the economy will have picked up and they can mine economically. Otherwise, they have blown a Billion for naught.

We sacrificed those dirty middle-class brown jobs for the new and improved, high paying, green jobs.

BTW - unemployment is the highest green job anyone can get.

RK,

According to TS's post it seems to me that the "sacrificed" jobs are presently a money loser.

Which would you prefer, dirty, money loser, or both?

 

[Randolph Kinney]

Why not ask the person who had that dirty brown job if they like their new green job or would they prefer to have their old dirty brown job?

If we go by what loses money, how about government jobs?

 

[ucbruin]

RK,

According to TS's post it seems to me that the "sacrificed" jobs are presently a money loser.

Which would you prefer, dirty, money loser, or both?

Why not ask the person who had that dirty brown job if they like their new green job or would they prefer to have their old dirty brown job?

If we go by what loses money, how about government jobs?

Dancing man,

Which would YOU prefer?