Showing posts from August 21, 2014

Fraser Surrey Docks Direct Transfer Coal Facility Project - Update

Click here to view the web version of the email mail-out.

[Another ludicrously anti-democratic so-called public review process. The rest of North America can't back away from the coal industry fast enough: "no unacceptable [health] risks," "not likely to cause significant adverse environmental effects." Details are available through the link provided in the mail-out. Also see: Coal transfer facility approved at Fraser Surrey Docks. Sadly, Long Beach, California has just followed suit*RON*]

You are receiving this email as you have provided input and/or indicated an interest in receiving updates in relation to the Fraser Surrey Docks Direct Transfer Coal Facility Project.

This email is to advise you that today, August 21, Port Metro Vancouver has issued a project permit to Fraser Surrey Docks for the development of a Direct Transfer Coal Facility to handle up to four million metric tonnes of coal.

In February 2014, Port Metro Vancouver identified areas that requ…

Stiglitz slams austerity as ‘a dismal failure’

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[And read Angela Merkel striking back: Chancellor Merkel challenges Nobel economists. And if you like it laid on with a trowel, read European Austerity Is a Myth in Bloomberg. *RON*]

By Patrick Donahue and Jonathan Ferro, Irish Examiner, 21 August 2014

Eurozone austerity policies to tackle the region’s debt crisis have been a "dismal failure" as economic growth grinds to a halt, Nobel laureate Joseph Stiglitz said.

The Columbia University professor, speaking on the sidelines of a conference in the southern German city of Lindau, said that high unemployment and sluggish growth underscore the shortcomings of the response to the turbulence that swept the currency bloc.

“Now we see the enormous price that Europe is paying,” Stiglitz said in an interview with Bloomberg Television.

German Chancellor Angela Merkel, who led the focus on cutting budgets and overhauling labour regulations, is set to speak at the Lindau conference. The economies …

France Acknowledges Economic Malaise, Blaming Austerity

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["Even though they’re taking so many painful measures, they have to explain to the French why the economy is not doing well and in fact is doing worse," "we’ve done everything we can do in the current political circumstances, and we won’t go further," "we’ve done our job, now Europe needs to do its job, which is favoring growth" *RON*]

By Liz Alderman, New York Times, 20 August 2014

As Europe faces the prospect of its third recession in five years, France is quickly emerging as one of the weakest links among the 18 nations that share the euro.

After months of insisting that a recovery from Europe’s long debt crisis was at hand, President François Hollande on Wednesday delivered a far bleaker message. He indicated that the austerity policies France had been compelled to adopt to meet the eurozone’s budget deficit targets were making growth impossible.

Paris officials say that France — the eurozone’s second-largest econo…

Imperial Metals Mount Polley disaster could cost $500 million, but bonds only a fraction of this amount

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[As you'll read, West Coast Environmental Law warned thirteen years ago that the liabilities of BC mines far exceed the amount they have been required to post in liability bonds. Note that the government is actively considering not cleaning it up at all: Mount Polley spill may be left in place*RON*]
Jenny Uechi, Vancouver Observer, 20 August 2014

Analysts say cleanup costs for Imperial Metals' Mount Polley tailings disaster could cost anywhere from $50 million to $500 million, but the security bonds available today to help cover that are now a fraction of that.

Documents from the Ministry of Energy and Mines on July 25, 2013 suggest that Mount Polley Mining Corporation (owned by Imperial Metals) was expected to pay security bonds of $38 million by 2023, and that it had deposited $14.5 million as of March 2014.

The Ministry said clean up is expected to be paid for by the company. But when the Vancouver Observer asked what would happen …