mining-economics news-

Mounting risks of impairments globally in coal investments

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A Rising Likelihood of Stranded Assets in Japan, China, and Around the World

Changes sweeping the electricity sectors in Japan and China suggest a hugely uncertain future for coal-fired power and a rapidly increasing risk of stranded assets.

New research shows growing over-capacity in these markets, likely complications from regulation and rising competition from lower-cost renewable power. Coupled with massive recent write-downs in coal-generation assets in Europe and with plans in the U.S. to close more than 102 gigawatts of coal-fired power plants by 2020, the findings serve as a global warning: Coal power expansion is dicey.

The very concept of stranded assets—investments whose value falls unexpectedly or that are written off altogether as a result of new economic circumstances, whether from government policy or technology change—is on potentially vivid display here.

Over-capacity is highly evident in China and looming in Japan, and coal-fired generation in both countries is imperilled in two ways:

• First, by competition from renewables and nuclear power, both of which have either much lower marginal operating costs (or no marginal operating costs at all), and both of which generally have priority grid access.
• Second, by regulatory risks that arise from the fact that coal-fired energy is the biggest source of water pollution, air pollution and carbon emissions—risks that favor increases in capital market flows to renewables.

In Japan, where the country’s 2014 “Basic Energy Plan” would add new coal capacity equivalent to three times the amount due to retire over the next 10 years, coal-use growth is driving its own over-capacity, according to report published this month by Oxford University’s Smith School (“Stranded Assets and Thermal Coal in Japan”).

Additional drivers for the likelihood of stranded assets include five years of negative electricity demand growth; the falling cost of renewables (supporting a massive recent expansion in solar power in which the Japan is adding 9-10 gigawatts annually); and the post-Fukushima restart of some of the country’s mothballed 43-gigawatt nuclear fleet. Rooftop solar raises the risks of a “utility death spiral,” too, according to the report, in which a ramp-up could reduce the customer base of utilities.

The report notes also that regulatory risk is growing. The Japanese government’s projections for coal-fired power in 2030 (at 26 percent of total generation) are about double what the International Energy Agency estimates is acceptable under global initiatives to limit climate change (“IEA 450S”, in chart below).

The report puts potential impairment losses at $76 billion, in a scenario of stranding of coal assets over the next five years. And should electricity demand continue to decline at 2.5 annually as seen over the past five years, risk will grow materially faster than the market is currently anticipating.

A telling excerpt from the report:

“Stranded coal assets would affect utility returns for investors; impair the ability of utilities to service outstanding debt obligations; and create stranded assets that have to be absorbed by taxpayers and ratepayers.”

SEPARATELY, A CREDIT SUISSE REPORT, “BEGINNING OF A MULTI-YEAR DOWN-CYCLE,” PAINTS AN EQUALLY STARK PICTURE OF COAL-POWER UTILITIES IN CHINA.

China, under market reforms launched last year, is in the process of liberalizing wholesale power prices. Because of a glut in coal-fired power, that means lower tariffs and returns. Producers must also compete now in an emerging price war with renewables. Credit Suisse analysts see falling coal-power utilization, reduced tariffs and a possible halving of leading coal utility net return on equity over the next three years.

China’s coal power glut is nothing short of astonishing—even as coal plant electricity sales and utilization fell last year, the country added 70 gigawatts of new coal capacity.

The Credit Suisse report focuses on four coal-fired independent power producers (IPPs) whose profits declined by 11-22 percent in the first quarter of this year, a trend that “should mark the start of a multi-year earnings down-cycle with mounting oversupply and pricing pressure.”

Industry consolidation could see these four IPPs write down smaller coal units, leading to losses equivalent to 6 to 14 percent of total book value, or 22 billion renminbi ($3.3 billion), the Credit Suisse analysts estimate.

Meanwhile, China is tilting the balance further in favor of renewables with must-run targets, for example, to boost the use of existing wind and solar assets. And the country may add a new twist on the “utility death spiral” concept, by forcing utilities to generate a certain minimum of their thermal output from renewables.

The drivers of change outlined in the Credit Suisse research are similar to those seen in Japan, and the shifts seen in both countries reveal the wider trend.

They reflect what is already happening in Europe, where lower wholesale power prices in response to rising renewable power capacity have led to costly write-downs of gas and coal-fired power plant assets. New data compiled by analysts at Jefferies investment bank showed this week that 12 of Europe’s biggest electric utilities cut the value of their assets — many of them power stations — by a collective 30 billion euros in 2015. That brings the total value of write-downs in the sector to 104 billion euros since the beginning of 2010.

Progressive utilities are looking to avoid repeating such mistakes. A case in point is First Philippines Holdings Corp., which produces 23 percent of Philippines electricity, and whose chairman announced this week “unequivocally and for the record that FPH and its subsidiaries will not build, develop or invest in any coal-fired power plant.”

That news follows a similar policy move earlier this year in Vietnam, and adds to the growing acknowledgement globally that stranded-asset risk is real.

Gerard Wynn is an IEEFA energy finance consultant.

legal news-

Madras HC amends advocate rules for peaceful proceedings Madras HC amends advocate rules for peaceful proceedings The Madras High Court has issued a notification making amendments to existing rules under the Advocates Act with a view to ensuring peaceful conduct of court proceedings and suggesting disciplinary action to be taken against erring advocates. The notification, recently issued by the Registrar General of the High Court, said, “In exercise of powers conferred by Section 34(1) of Advocates Act, the court ‘makes the following amendments to the existing rules. The amendments shall come into force with effect from the date of publication’.” It said the court has power under 14-A of Advocates Act to debar advocates who indulge in activities such as trying to influence a judge or participates in a procession inside court campus or holds placards inside the court hall, among others. Such advocates shall be debarred from appearing before the high court or subordinate courts permanently or for such period as the court may think fit and the Registrar General shall thereupon report it to the Bar Council of Tamil Nadu, it said. The notification further said where any such misconduct referred to under Rule 14-A is committed by any advocate before the high court, the court shall have the power to initiate action against the advocate concerned and debar him from appearing before the court and all subordinate courts. If the misconduct is committed before the court of principal district judge, the judge shall have the power to initiate action against the advocate concerned and debar him from appearing before any court within such district. If it is committed before any subordinate court, the court concerned shall submit a report to principal district court within whose jurisdiction it is situated and on receipt of such report, the principal district judge shall have the power to initiate action against the advocate concerned and debar him from appearing before any court in such district. The high court or the court of principal district judge, as the case may be, shall, before making an order under rule 14-A, “issue to such advocate a summons returnable before it, requiring the advocate to appear and show cause against the matters alleged in the summons and the summons shall if practicable, be served personally upon him”, it said. The notification said “… The high court or the court of principal district judge may, before making the final order under Rule 14-C, pass an interim order prohibiting the advocate concerned from appearing before the high court or subordinate courts, as the case may be, in appropriate cases, as it may deem fit, pending enquiry. ( Source – PTI )

News-

Bay Area energy meeting is where climate protection gets real

By Hal Harvey

 

The Paris Agreement on climate change, agreed to last December, set the world on track to avoid catastrophe.  Or did it?  More than 180 nations have committed to reducing carbon dioxide emissions, but now we need to see whether these commitments are real. On June 1-2 in San Francisco, energy ministers from the world’s 24 largest-emitting nations—including China, India, the U.S., the EU, among others—will report on their progress and plans.

Climate science offers up horrifying prospects if we do not promptly cut emissions.  Ice melt has accelerated beyond scientific estimates, and sea level rise is now projected at nearly double previous projections, putting hundreds of millions of people at risk by 2100.  No coastal country has the resources to cope with this.  A decade ago, New Orleans suffered one terrible storm, Katrina, which left the city with only about 75 percent of the population it once had.  The Bay Area is threatened by the same fate – San Francisco’s Public Utilities Commission projects regional water levels could rise 8 feet over current high tide by the end of this century.

The world is warming up: the first four months of 2016 have already made this year the hottest to date, and atmospheric CO2 concentrations haven’t reached their current levels in 23 million years.

So how are we doing on reversing this climate trajectory? Back to Paris: If all the national plans presented are met, we can achieve carbon reductions that get us halfway toward a reasonable future, which would be a big step.  But let's not forget the "if". 

Every county that filed a plan in Paris now must put it into action.  Reducing climate threats only become real when we swap coal plants with wind and solar, when we double fuel efficiency of cars and trucks, powering them over time with electricity, and when we start constructing zero-energy buildings. 

The technologies for this transformation are available and finally cheap.  A few weeks ago, a large solar plant was installed in Dubai at 3 cents a kilowatt-hour—a fraction of the cost U.S. households pay for electricity—for a brand new solar plant.  Of course, these are wholesale prices, and our readers pay retail, but the point is simply that it is wholly affordable to transform the electric grid into a zero-carbon machine. 

The technology is here, or near, and the economics of a clean energy transition are favorable, but the question remains: Will countries perform these new low-carbon plans? 

Once a year, energy ministers from the world’s largest economies convene to tighten the nuts and bolts of energy policy.  This year, it will be chaired by U.S. Energy Secretary Ernest Moniz, a steadfast advocate for climate action and a knowledgeable visionary about the potential for new technology to deliver a cleaner world.  Secretary Moniz will be joined on stage by the Chinese Minister of Science and Technology, Dr. Wan Gang, a former Audi engineer who built his own fuel cell car.  He is working harder than anyone on the planet—possibly excepting Elon Musk—to electrify transportation. 

It's no coincidence this ministerial meeting is being held in California – it has led the world’s energy transformation.  Within a few years, the Golden State will get a third of its electricity from renewable energy sources, and by 2030, more than half.  California is America’s leader in solar energy installations, and second for wind energy.  It has the nation’s best building code, and its only comprehensive carbon cap program. 

Silicon Valley in particular is at the vanguard of charge: Substantial overlap exists between energy technologies and the region’s software and hardware skills of Silicon Valley.  Solar cells are essentially vast sheets of microelectronics, and their cost reduction has followed—no, exceeded—Moore’s Law  as prices have fallen more than 80 percent in the last five years, largely driven by Silicon Valley innovation. San Francisco and San Jose consistently rank as America’s top clean tech metro areas.  Companies based in these areas, like Nest and Enlightened, are using tiny sensors and big data to slash energy consumption in buildings by as much as 25 percent.

The planet’s future will look decidedly better if we accelerate technology development through the strategies being presented at the Clean Energy Ministerial this June.  Innovation must be accompanied by energy policy to transform electric utilities, buildings, transportation, and industry.  Building codes can drive us to zero net energy buildings.  Advanced transportation policy can double fleet efficiency, and make vehicle electrification commonplace. We can decarbonize our grid through solar, wind, and other technologies within two or three decades.  The right policies, designed and implemented correctly, are the elements to make that happen. 

Closely watching the Clean Energy Ministerial will show if the ministers are serious about innovation and implementation.  It is not hyperbole to say that their actions, taken together, can help determine our common future.

---

Harvey is CEO of Energy Innovation.

News-In China about 150GW of new coal plants will likely be completed

By David Leitch on 27 May 2016

Executive summary

In China about 150GW of new coal plants will likely be completed over the 2016- 2018 time frame. The plants are being built because lower coal prices (half what they were) and relatively fixed tariffs, low capital costs and outstanding thermal efficiency make the plants look very profitable – but only if they get enough capacity utilization.

In the very short term power demand in China has started growing again, and some heavy industries including aluminium (the largest consumer of electricity) are seeing higher prices, incentivising higher production.

In the medium term, even with electricity consumption growth of 4% in China, perhaps at the higher end of a reasonable range, it’s likely there will be significant oversupply of generation. Oversupply will be increased by the ongoing build out of new renewables. This will lead to strong pressure on industry profits.

The pressure will be exacerbated by ongoing deregulation of prices that that thermal generators receive. Prices are 10-20% lower already for deregulated supply and this feeds into the overall price.

However, in the long run, lower electricity prices are inconsistent with environmental policy as they will incentivise higher consumption, particularly in energy intensive industrial China. Aluminium producers, for instance, would love lower power prices.

The obvious answer is to tax coal (via a carbon price). And if the US taxed petrol in the same way that Europe does, that would also be a major step in the right direction.

This article relies heavily on information from Coalswarm, Greenpeace and North China Electricity Univeristy (NCEU). In recent years the author has been impressed by the up-to-date and detailed research into the Chinese coal industry and coal fired electricity coming from Greenpeace China.

Introduction

As noted in Part 1 of this series, coal is the second largest source of global carbon emissions after oil, and coal provides well over 50% of the world’s electricity.

Figure 1: World coal plants

Coalswarm tracks articles and statistics about coal. For instance coal swam states that as at the end of 2015 there were about 1.9 TW of installed coal fired generation capacity in the world of which 46% was in China. Australia comes in at No 10 despite our low population relative to the rest of the world.

Plenty of new plants are being built in China. A screen shot of the map for China is shown below, We have selected just plants that are newly operating, under construction and also projects cancelled (shown in green).

Figure 2: New and cancelled coal plants in China (source: coalswarm)

Figure 3:Global coal production

If we look at year on year growth rates for China, India, US and Australia (the four largest producers, although Indonesia may have overtaken Australia in 2015) we see that the growth rate for USA is negative and China has slowed towards zero. However India is accelerating.

Figure 4: Major coal producers, 3 year average growth rate (source BP)

Lower coal prices make life tougher for renewables

Lower coal prices are bad for coal producers and tend to discourage investment in new coal mines, but they make coal fired electricity a lot cheaper. China is massively electricity intensive compared to the rest of the world.

Thermal coal prices have halved over the past five years from ~US120/t to around US$54 and are still falling at a 10% year on year pace.

Figure 5: Thermal coal price Newcastle

Despite China’s size and GDP still a “developing country”

It’s astonishing to note that China’s GDP at US$11 trillion is comparable to the US at $18 trillion, but in terms of the old model of “primary industry evolves to secondary industry and then tertiary industry” China is still in the secondary industry phase. Figure 6 shows for the 10 largest GDP countries, GDP, Population and electricity consumption

Figure 6: Electricity consumption, GDP, population

The data underlying the chart is shown in Fg 7 and shows that China’s electricity consumption per capital is still at the lower end of the range.

Figure 7: 10 largest countries by GDP

Finally the chart below shows that China is more comparable to India and Russia in that relatively GDP per capita is associate with relatively low GDP per unit of electricity produced. Germany is by far the most efficient user of electricity.

Figure 8: GDP per capita compared to GDP per unit of electricity consumption

For our purposes though its Figure 6 that drives the discussion, as its the absolute size of China’s electricity consumption and the way China produces it.

Outlook for coal fired electricity in China

It’s a long background, but we can now get to the outlook for coal fired electricity in China.

Demand grew 0.5% in calendar 2015, but in the four months ended April was up 2.9%. Service sector demand is growing at 10% but off a small base statistics on which heavy industries in China consume all the electricity are scarce. In fact this is the main area of deficiency in the publicly available research and undermines the demand forecasting credibility.

However, we identify Aluminium, petro chemicals, cement grinding, coal to gas and steel as main contributors. Steel of course is also the major consumer of coking coal, not covered in this note. Alumimium is likely the industry that is the user of power in China, as it is in many countries including Australia. In most countries global Aluminium producers, struggling with their own oversupply and very conscious of carbon risk, are tending to close aluminum smelters that don’t have a power advantage (typically hydro).

However, it looks at though this may be changing, and China’s aluminium production has shown negative year on year growth for the last few months. Even that is likely to be temporary as aluminium prices in Shanghai are up 25% over lows seen a few months ago.

Figure 9: Electricity demand in China 2015 

Figure 11: Shanghai aluminium price

Figure 10: China aluminium production

At the moment the forecasts published by Greenpeace and the North China Electricity University continue to look reasonable. In our opinion their demand forecast of 4.2% cagr is probably at the high end of the reasonable range and was based on GDP growth of 6-7% and power elasticity of about 0.6. These forecasts would still have coal fired power output growing 2% per year.

Figure 12: Electricity demand growth, capacity and utilisation China 2015-2020

Capital and variable costs

Coal prices in China have fallen much faster than the on-grid tariffs China electricity generators receive. As a result profitability of China’s coal generating sector is currently very profitable. This is leading to about 50 GW per year of new coal generation being built.

It’s virtually certain that whereas Fig 11 calls for about 50GW of new coal generation in total over five years, there will in fact be 150 GW commissioned in the 2015-2017 time frame. On top of that as discussed in Part 2 of our report there is about 15-20 GW per year of solar PV and about 30 GW of wind. The issue will be around utilization.

Figure 13: China coal plant capacity utilization (source: NCEPU, author)

One scenario was painted by the Power Economics Study Group of NCEPU in an April 2016 report as follows:

“It is forecasted by the China Electricity Council (CEC) that the total electricity consumption in 2016 is expected to have 1%-2% annual growth, and the addition of coal power installed capacity will reach at least 50GW, which, together with the market reduction by renewable energy, contributes to the continuous fall of coal power utilization hours (somewhere between 300 and 400 hours).

If the mismatch between electricity demand growth and addition of coal power installed capacity persists in 2017, the unit utilization rate will continue to further deteriorate. Therefore, the scenario prospect analysis in this report selects 2020 as the time point, however, if the electricity demand growth continues to be at low level (i.e., less than 2% annually) and the scale of units newly commissioned remains at high level (e.g., the annual addition of coal-fired power units approaching 50GW), the losses of the whole coal power sector may be realized early in 2017.”

The NEA (National Electricity Authority of China) has recently proposed PV to reach 160 GW by 2020 (growth of about 25 GW per year) and wind to reach 250 GW (also growth of about 25-30 GW a year). Still these are only proposals.

Arguably, just as important is deregulation of China’s power purchasing arrangements. Historically, power plants have received a regulated “on grid” tariff. Changes in this tariff lag the coal price and profits and investment go up and down accordingly. The on grid regulated price is about US$48 MWh at the moment (higher than in Victoria) but deregulation even of small amounts can force down overall prices.

Figure 14: Regulated and deregulated prices to coal generators China

China’s modern power plants are extremely efficient. The NCEPU assumes just 280 g of coal per KWh. Way, way lower than Australian coal plants. They are also cheap, working out to about US$550 a MW or just US$328 m for a 600 MW unit. However, they are still water cooled and the cost does ignore the SOX and NOX scrubbers.

Assuming we have done our sums on thermal efficiency correctly and using the data provided by the NCEPU we estimate that at current coal prices and on grid tariffs a coal fired plant operating at 60% capacity utilization can earn a return on equity over 25%. Rather than NPV or LCOE [levelised cost of electricity] we simply show year one profitability of an overnight (ie instantaneous built) power station both under current conditions and for a range of scenarios.

Figure 15: Coal plants are very profitable at 60% utilisation in China

David Leitch was a Utility Analyst for leading investment banks over the past 30 years. The views expressed are his own. Please note our new section, Energy Markets, which will include analysis from Leitch on the energy markets and broader energy issues. And also note our live generation widget, and the APVI solar contribution.

News

Trump Wants To Make Energy Production Great Again — Even As It Sets Records

Donald Trump marched through the Republican presidential primary field this year on the strength of a focused message: America used to be great. It isn't anymore. And that's mostly the fault of the Obama administration.

On Thursday, Trump applied that same thesis to American energy production. "America's incredible energy potential remains untapped," he told a North Dakota audience in what was billed as a major policy address. "It's totally self-inflicted. It's a wound, and it's a wound we have to heal."

The problem with Trump's analysis: It comes at a point when, judged solely on production numbers alone, American energy production is, well, pretty great.

Every year since 2012, the United States has produced more oil and natural gas than any other country. And it's not just fossil fuels that are on a roll; the amount of electricity generated by wind and solar energy has also soared in the past decade.

The domestic oil and gas boom has been powered by hydraulic fracturing, a controversial drilling technique that uses water, chemicals and sand to blast oil and natural gas out of shale rock deep below the ground.

While the oil and gas industry has seen a steep decline lately — which has led to industrywide layoffs and retrenchment — it's largely a victim of its own success. A glut of domestic oil and gas has caused prices to drop, leading to a slowdown in production.

Still, Trump said American energy production can do much better. He promised to scale back federal regulations, lease more federal land for drilling and revive the struggling coal industry. "We are going to turn everything around," he told the Bismarck crowd. "We are going to make it right."

Here's what Trump had to say about four key portions of the energy landscape.

Frack, Baby, Frack

Fracking is largely regulated on the state level, but the Obama administration has attempted to tighten rules for the procedure when it occurs on federal lands.

Trump promised to scale back energy regulation on all fronts. "Any future regulation will go through a simple test," he said. "Is this regulation good for the American worker? If it doesn't pass this test, the rule will not be approved."

He warned that Hillary Clinton, by contrast, would "escalate the war against the American worker like never before, and against American energy. And she'll unleash the EPA to control every aspect of our lives, and every aspect of energy."

In a press conference before the speech, Trump said Clinton would "ban fracking." That's not true. In fact, her Democratic opponent, Sen. Bernie Sanders, has run ads against Clinton blasting her for supporting the drilling technique.

Like Obama, Clinton has embraced natural gas as a "bridge fuel" that, while flawed compared to wind and solar energy, is cleaner to burn than sources like coal. During Clinton's tenure as secretary of state, the State Department tried to drum up support for American drilling technology overseas.

As a presidential candidate, she has taken a much more cautious approach, calling for increased regulation of fracking. During a debate this spring, Clinton said she would support the technique only when local governments approve, when the drilling isn't leaking methane and when companies disclose the chemicals they are using to frack.

"So, by the time we get through all of my conditions, I do not think there will be many places in America where fracking will continue to take place," said Clinton.

PolitiFact has the full details on Clinton's history with fracking.

Trump blamed the Obama administration for a drop in drilling rates. It's true that drilling has fallen off lately and there have been widespread layoffs in Pennsylvania's Marcellus Shale formation and other regions where fracking had taken off over the past decade.

But again, that recent downturn is due largely to supply and demand, not regulation. As prices for oiland natural gas have plummeted, energy companies have slowed production.

Reviving The Coal Industry

Trump bills himself as a savior of the coal industry. "We're going to save the coal industry, believe me, we're going to save it," he said.

Coal production has dropped precipitously in recent years. Major coal companies are declaring bankruptcy.

For years, Republicans have blamed the industry's problems on what they call the Obama administration's "war on coal." There's no question the White House has been tough on coal. A central part of the country's plan for the Paris Climate Accords — more on those later — involves shifting energy production away from coal-fired power plants, and toward natural gas plants and renewable energy. The EPA has made it harder and harder to build new coal-fired plants.

But coal's main enemy, from an economic standpoint, has been natural gas. It's cheaper for energy companies to get out of the ground, it's cheaper to transport, and it makes it much easier to run a power plant. As NPR's Jeff Brady reported earlier this year:

While a coal plant pretty much has to run all the time, a gas plant can be shut down and fired back up more easily to meet regional electricity demands, according to Dave Meehan, head of Sunbury Generation, which owns the site where the new plant is being built.

It's easier on the environment, too. There's no coal ash to deal with, it uses less than 5 percent of the water for cooling than the coal plant used, and it emits less pollution. Here's the real kicker: The new gas plant will produce more than twice as much electricity as the old coal plant — enough to power about a million homes.

"Gas is taking more and more market share from coal, and that's a reality that is here to stay," Meehan says.

So it would be very hard for Trump to simultaneously increase oil and gas drilling and revive the coal industry.

'Cancel' Paris Climate Accords

Trump only made tangential reference to climate change during his speech, calling Obama's climate regulations "draconian" and vowing to "cancel" the major climate change agreement that the United States and other countries signed onto in Paris last year.

Like many other Republican presidential candidates this year, Trump has previously dismissed human-induced climate change as a hoax. "The concept of global warming was created by and for the Chinese in order to make U.S. manufacturing non-competitive," he tweeted in 2012.

Trump blasted the United Nations Paris agreement, where the U.S. and other countries vowed to gradually lower carbon dioxide emissions to try and limit the global warming that's already underway. The U.S. would try to accomplish this by shifting power generation away from coal and toward renewable energy like wind and solar power, as well as natural gas.

"This agreement gives foreign bureaucrats control over ... our energy, and how much we use, right here in America," Trump said Thursday. "So, foreign bureaucrats are going to be controlling what we're using and what we're doing on our land and in our country. No way."

Not exactly. It's up to American bureaucrats to enforce the agreement within the United States, though that's likely not going to make Trump and other opponents feel much better. The main thrust of the U.S. Paris plan is an EPA rule called the Clean Power Plan, which would lower the power sector's carbon footprint by more than 30 percent.

That plan is currently in limbo, though. The U.S. Supreme Court has blocked its implementation until judges have a chance to rule on whether the EPA has the power to impose such a major change. That means a President Trump could have a chance to scuttle the rule before states begin to implement it.

Lukewarm On Wind And Solar

At a press conference before his speech, Trump said he supports "all sorts of energy," including wind and solar panels. But he wasn't exactly heaping praise on the two alternative energy sources.

"The problem with solar is it's very expensive; wind is very expensive," he said.

"There are some places in California, wind is killing all of the eagles. You shoot an eagle, you kill an eagle, they want to put you in jail for five years. And yet the windmills are killing hundreds and hundreds of eagles ... so wind is — it's a problem."

"But despite that," Trump added, "I am into all types of energy."

There's no question turbines can be dangerous for birds, including eagles. So can industrial-scale solar farms. But the American Wind Energy Association calls turbine-linked eagle deaths "exceedingly rare."

Wind power has been growing at a rapid rate in recent years, as NPR has reported.

Source: NPR

News-

U S Department of Labor : Department awards $3.4M to help re-employ workers affected by coal mining industry layoffs in Kentucky

0

05/27/2016 | 01:51am EDT

WASHINGTON - The U.S. Department of Labor today announced the funding of a supplemental National Dislocated Worker Grant of $3.4 million to provide for reemployment and training services for Kentucky coal mine workers. The new funding will assist current program participants as well as an additional 797 participants hurt by recent layoffs.
In March 2013, Eastern Kentucky Concentrated Employment Programs, Inc. received $3.7 million to provide targeted services for workers after layoffs in the region's coal mining industry. Changes in the coal industry and power sector since then have led to additional layoffs, creating the need for further funding. On May 30, 2014, the department awarded an additional $7,549,409. The planned participant level was then also increased to 2,000. On Nov. 10, 2015, the department awarded supplemental funding of $2,750,000, and increased the planned number of participants to 2,403.
Today's supplemental award will bring the total amount of funding for this program to more than $17 million, serving a total of 3,200 dislocated workers.
Eastern Kentucky Concentrated Employment Programs will continue providing reemployment and training services to current program participants and extend services to more workers as layoffs continue. Traditional career and supportive services will be provided, as well as training for in-demand jobs in field such as business services, construction, energy and health care.
This funding is part of the Obama administration's efforts to target federal assistance to coal communities and workers harmed by a decades-long trend of job losses. The grant complements the POWER+ Plan proposed in the president's FY 2016 and FY 2017 budgets and a $2 million award from the department to the Commonwealth of Kentucky in 2015 as part of the POWER Initiative. The award helps support a state-led initiative to maximize the economic and workforce development benefits of building an expanded broadband infrastructure in Eastern Kentucky.
The NDWG program is part of the U.S. secretary of labor's discretionary fund. The department awards grants based on a state's ability to meet specific guidelines.

U.S. Department of Labor published this content on 26 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 May 2016 05:50:02 UTC.

ORIGINAL DOCUMENThttps://www.dol.gov/newsroom/releases/eta/eta20160526-1

PUBLIC PERMALINKhttp://www.publicnow.com/view/50A7186C57E1A6B3BC87BEFAEE6193BD20D88EE

News-

Rediscovered footage shows the remarkable moment Eton schoolboys including future Tory cabinet minister Jonathan Aitken were sent down a Scottish coal mine in 1961

• Rediscovered footage shows moment Eton boys ventured down coal mine
• Newly-published film shows 1961 class going down mine in East Ayrshire
• Among visitors is fresh-faced Jonathan Aitken, who went on to be Tory MP
• Black and white footage shows boys with coal-smudged faces down mine
• Do you know who the other Eton schoolboys in the footage are? Email alex.matthews@mailonline.co.uk

By EMMA GLANFIELD FOR MAILONLINE

This fascinating rediscovered black and white footage shows the remarkable moment Eton schoolboys including future Tory minister Jonathan Aitken ventured down a Scottish coal mine.

The footage, newly released from the British Film Institute's private archives, shows a class of Eton schoolboys on an exchange to the coal mining village of Cumnock, East Ayrshire, in 1961.

Among the fresh-faced visitors is none other than a young Jonathan Aitken - who went on to become a Tory MP and cabinet minister before being jailed for perjury in 1999.

Scroll down for video 

The footage, released from the British Film Institute's private archives, shows a class of Eton schoolboys - including Jonathan Aitken (above) on a visit to the coal mining village of Cumnock, East Ayrshire in 1961

Among the fresh-faced visitors to the coal mining village is none other than a young Jonathan Aitken (in the background to the right of the boy with glasses), who went on to become a Tory MP and cabinet minister

A Jonathan young Aitken (far right) emerges from the coal pit during the schoolboys' venture down the mine

The clip is a 'cinemagazine' designed to be watched by those working in the mining industry.

The full ten minute black and white reel, titled 'Visit to Ayr' first shows scenes of the pupils from Eton College dressed in formal attire being greeted at the Cumnock train station by the local MP.

Speaking in a crisp accent over dramatic music the narrator says: 'Cumnock station in Scotland, and Emrys Hughes, MP for South Ayrshire, meeting boys from Eton College who had come for their first glimpse into the mining community.'

The students can then be seen packed into a small bus - with a tall Jonathan Aitken ducking in order to fit - before meeting the local families they are staying with.

One scene shows another boy, 'Jeremy', in a full suit wearing a carnation, towering over his host family as he greets them outside their terraced home.

The narrator notes 'the boys made themselves at home' as one 16 year-old pupil delves into the history of the area with the mine's 'dust suppression officer.'

In another scene a pupil can be seen reading the paper at his host family's breakfast table - slightly overdressed in an ornate dressing gown.

They then take a sightseeing tour to 'get the feel of a mining community', and also visit the cottage of Robert Burns.

The pupils, including a young and fresh-faced Aitken (centre) visited Robert Burns' cottage during their trip

One scene shows another boy, 'Jeremy', in a full suit wearing a carnation, towering over his host family as he greets them outside their terraced home (pictured). The footage has been released by the British Film Institute

The British Film Institute (BFI) have newly published a haul of films from their private archives - making them publically available for the first time. The clip isdesigned to be watched by those working in the mining industry

Speaking over music, the narrator says: 'Cumnock station in Scotland, and Emrys Hughes, MP for South Ayrshire, meeting boys from Eton College who had come for their first glimpse into the mining community'

Jonathan Aitken, the former Conservative party cabinet minister (pictured), was jailed for perjury in 1999

The footage also shows them going underground at Barony Colliery - putting on the 'unaccustomed clothing' of overalls.

A young Mr Aitken can even be seen fixing his hair under the mining helmet - before 'going down' the pit.

They are then seen returning from the pit with coal-smudged faces, 'dirty, happy and wiser from the experience of seeing how the nation's coal is won.'

Mr Aitken, speaking today, recalled that the trip was organised after MP Emrys Hughes - who had a number of 'formidable' mines in his constituency - gave a speech at the Eton Political Society, which he presided over.

He said: 'I remember this episode well. Towards the end of his speech in a half humorous way he asked why Eton isn't sending any of its boys into the coal mining industry.

'He said, 'I challenge the boys of Eton to come down the mines of my constituency'. I accepted.

'We worked on the coalface. We went down the mines for the four days, and gosh it was tough. To me it was very very eye opening and fulfilling and fascinating work.

'We also rather bonded with our mining hosts.'

The footage shows them going underground at Barony Colliery - putting on the 'unaccustomed clothing' of overalls. Mr Aitken can even be seen fixing his hair under the mining helmet before 'going down' the pit

Behind bars: Aitken (right) prepares to go down the coal mine during the boys' trip to the East Ayrshire village

'Jeremy' enjoys a working class miners' breakfast in the newly released footage, which dates back to 1961

Mr Aitken said the trip sparked an exchange programme - with miners visiting Eton for five days.

The school also launched a fundraising effort for the mine when tragedy struck just four months after the visit - when disaster struck and four men were buried alive. Their bodies remain there today.

But Mr Aitken said one of the men - Jimmy Tanner - stood out in his memory, as Mr Tanner wrote to him some years after the visit, saying he was retiring, suffering from a chest condition, and wished to move south.

Mr Aitken said: 'He wrote to me - I was by that time a very young member of parliament.He said, 'Do you think you could help me get a council house?'

And I did get Jimmy Tanner a council house in Ramsgate.

'I saw him from time to time and revered him as a man'.

Patrick Russell - senior curator at the BFI - said that 450 films such as this were made between 1947 and 1983.

He said: 'The industrial field was a very prolific field - particularly the mining reviews.

'They reveal a 20th century field that has changed very radically since.

'In this particular case it's a very interesting cultural exchange across class barriers.'