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    All is not well...
    Posted on Monday, September 02, 2002 @ 13:13:00 UTC by vlad

    General "Let us not be deceived when we look at a clear blue sky into thinking that all is well. All is not well205Let us stop being economically defensive and start being politically courageous," U.N. Secretary General Kofi Annan stated in the plenary session of the World Summit on Sustainable Development in Johannesburg, South Africa, on Monday.

    "Poverty and environmental degradation, if unchecked, spell catastrophe for our world. That is clear," said the British Prime Minister Tony Blair.
    But a European push to set higher targets for using wind and solar energies faced stiff resistance from the United States and some developing nations. A proposal to rapidly expand the use of clean, renewable energy technologies around the globe, calls for these sources to account for 15% of the world's total energy production by 2010. According to AP News, sources sitting in on the negotiations said delegates from the United States, Saudi Arabia and other industrialized and oil states were lobbying to eliminate the provision and set no specific goals. The U.S., Canada and other large energy producers also opposed a provision requiring industrialized nations to phase out some subsidies for their energy industries, those which do not support sustainable development (in the U.S. renewable sources provide only 1% of the nation's total power supply).



    The United States is a leader in such renewable energy technology but believes an ``arbitrary target'' is less important than focusing on cleaner use of all energy sources, said U.S. Assistant Secretary of State John Turner. ``We want it to be more comprehensive and look at energy security,'' Turner said.
    South Africa's environment minister, Valli Moosa, said targets for renewable energy usage - often more expensive than other sources of energy - were a rich country's luxury. ``We will not support binding targets for renewable energies for developing countries,'' he said.
    Canadian Prime Minister Jean Chretien confirmed Monday that he would submit the Kyoto Protocol to his parliament by year's end for approval.
    But with the United States holding out, the accord cannot take effect unless Russia - another crucial holdout - signs on. The European Union urged Russia to ratify it quickly.

    If I remember well, only in the last 10 years we succeeded to exterminate another 10 life species from this planet. Lots to go, some may say. I live you with some insightful quotes attributed to the former Texas governor, who is promising us that "the future will be better tomorrow" ;o)) :

    "It isn't pollution that's harming the environment. It's the impurities in our air and water that are doing it."
    "I have made good judgments in the past. I have made good judgments in the future."
    "I stand by all the misstatements that I've made."
    "We are ready for any unforeseen event that may or may not occur."
    "It's time for the human race to enter the solar system."


     
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    "All is not well..." | Login/Create an Account | 2 comments | Search Discussion
    The comments are owned by the poster. We aren't responsible for their content.

    No Comments Allowed for Anonymous, please register

    Re: All is not well... (Score: 1)
    by Anonymous on Monday, September 02, 2002 @ 19:46:00 UTC
    vlad (vlad@zpenergy) writes: It's no wonder U.S. was so firm in not agreeing to any targets and timeschedule related to renewable energy at the World Summit. It's money of course:
    UTILITIES FACE $30 BLN DEBT REFINANCING: S&P
    NEW YORK, Aug 28 [Reuters] - U.S. utilities that piled on debt to build power plants in recent years will struggle to refinance about $30 billion of that debt over the next two years, Standard & Poor`s Rating Services said in
    a recent report.

    Some energy merchants in particular face a grim future because they have limited access to capital markets and may even have to sell some of their prized assets for bargain-basement prices, S&P said.

    ``The survival of Dynegy Inc., NRG Energy Inc. and the Williams Cos., for example, hinges on their ability to maintain adequate levels of liquidity over the next several months,`` S&P analyst Suzanne Smith said in the report. NRG is the power producing and trading unit of Xcel Energy Inc..

    Shares of energy traders rose in early August as investors applauded their asset sales and other moves to shore up cash positions. Dynegy, for example, sold its Northern Natural Gas pipeline to billionaire Warren Buffett`s MidAmerican Energy Holdings for $928 million, plus $950 million of assumed debt.

    Still, energy merchants face challenges, Smith said. Funds from operations are falling short because of low electricity prices and reduced trading revenues. Some companies are also selling assets for ``less than optimum`` prices and may have to take large writeoffs, she said.
    ``Dynegy`s recent sale of Northern Natural Gas Co. for nearly $600 million less than what it paid is the most glaring example,`` Smith said.

    Equity markets are unattractive to many utilities, whose share prices often languish in the single digits, yet many companies have promised to issue shares as a way to keep their credit ratings from falling further, she said.
    Other companies cannot sell bonds because they have too much debt or lack assets to pledge as security, Smith said.

    The energy merchants` troubles do not extend to all utilities, yet ``every company may be challenged in some way in the current environment,`` she said.
    Source: Reuters News, 28 August 2002




    Re: All is not well... (Score: 1)
    by Anonymous on Thursday, September 12, 2002 @ 13:24:00 UTC
    Matty writes: Clearly these people have no regard for future generations. Imagine its the year 2075 and your grandchild isn't going to war for some nationalistic megalomaniac like Dubya but rather for UV resistant clothing, water and air purification units and hydroponic gardening systems...
    I am projecting myself into a future where the mass free energy movement was squashed (because of _____) and the establishment had its way. The survivors of Dubyas initiated WW3 have intense resentment for the previous generation, anybody old is shunned and killed out of hatred for allowing the current situation to happen.
    In that day free energy won't be an option it will be necessary and the grandchildren of Dubya will hate him too, they will hate America...what's left of the establishment will have made free energy devices ILLEGAL, they will be sold on the black market despite issues of National and Economic Security.
    Is it so hard to understand that the ENVIRONEMENT IS THE ECONOMY????????????

    Is this shortsightedness not an obvious sign that those in power are either completely evil or completely stupid????????




     

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