Showing posts from October 15, 2014

Site C dam granted BC Province environmental assessment approval

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[See also Hydroelectric power's dirty secret revealedThis is what "being in the public interest" means to Christy Clark. The project is neither needed locally nor wanted by the locals. It will flood agricultural land that can feed one million people at a time when imported food from California is becoming unavailable and unaffordable. The project will actually impede the development of the LNG industry in the North by diverting away skilled workers. *RON*]
Sindhu Dharmarajah, Vancouver Observer, 14 October 2014

Site C Clean Energy project, a proposed $7.9 billion dam seven kilometres southwest from Fort St. John, is in the public interest, Environment Minister Mary Polak and Forests Minister Steve Thomson stated today in a press release.

The ministers issued an environmental assessment certificate to BC Hydro after concluding that the benefits of the project on Peace River outweighs the environmental, social and heritage effects.


Australian Prime Minister Says Coal Is ‘Good For Humanity’

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[A dollar in the bank today is worth the entire frigging planet tomorrow? Perhaps he and Stephen Harper will settle down and start a family. *RON*]

By Joaquim Moreira Salles, Think Progress, 14 October 2014
Speaking at the opening of a coal mine in Queensland on Monday, Australian Prime Minister Tony Abbott called for an end to the demonization of coal. “Coal is good for humanity, good for prosperity,” he said, adding that “coal is an essential part of our economic future here in Australia, and right around the world.” The new mine will produce 5.5 million tons of coal annually.

Abbott has been less than progressive on the issue of climate change, doubting the legitimacy of climate science several times, and nominating climate change deniers to key positions in his government. The Australian PM was also one of a few leaders of heavy carbon emitters who declined to attend the United Nations Climate Summit that took place in New York City in Septemb…

Why is the US Navy practising for war with China?

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[This could go nowhere or anywhere in a heartbeat. *RON*]

By Rupert Wingfield-Hayes, BBC News, 14 October 2014

The US prefers to talk about engaging with China, but it is clear its navy is now also practising for a potential conflict, reports the BBC's Rupert Wingfield-Hayes.

You don't get invited out on a US nuclear aircraft carrier all that often, and after writing this I might not get invited back for a while.

On the flight deck of the USS George Washington the noise is like nothing I've ever experienced. A few feet from where I am standing, 11 F/A-18 Super Hornets are lining up to be launched.

The first one is hooked on to the catapult; there is a massive crescendo as its engines roar to full re-heat. Then, in a cloud of white steam, the 15-tonne jet is thrown down the deck and off the end of the ship like a toy.

Seconds later, the deck crew in their multi-coloured smocks are calmly lining up the next one.
Watching the US Navy close up…

Germany slashes its economic forecasts

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[The economy of the poster boys for austerity is going down the drain. *RON*]

Stefan Wagstyl, Financial Times, 14 October 2014

Berlin has slashed its growth forecast for this year and the next, a move that highlights the government’s mounting concerns about the impact of stagnation in the eurozone, geopolitical crises in Ukraine and the Middle East and a slowdown in emerging markets on the German economy.

In stark contrast with the rosy forecasts made just six months ago of 1.8 per cent growth this year and 2 per cent in 2015, the government forecasts gross domestic product to expand 1.2 per cent in 2014 and 1.3 per cent next year.

The data follows last week’s release of dire German factory figures, which stoked fears among top financial officials gathered in Washington for the International Monetary Fund’s annual meeting that economic weaknesses at the heart of the eurozone could undermine the global recovery.

In spite of the growing pessimism, howe…

One Percent Of The World Own Nearly Half Of Its Wealth

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[Interesting new results from a Credit-Suisse report. *RON*]
by Michael Ide, Value Walk, 14 October 2014

A feedback loop between rising asset prices and income inequality could keep driving the trend in the future

Global inequality has been rising in recent years, and just one percent of the population now owns nearly half of the world’s wealth according to the Credit Suisse 2014 Global Wealth report. Even though recent gains have actually just brought inequality back to pre-crisis levels, the longer secular trend is toward greater inequality, and a feedback loop between existing inequality and asset prices means that the gap could continue to grow.

“Rising inequality in recent years may have contributed to asset price increases by providing the top income groups with more funds to invest, and caused wealth inequality to rise further, by giving those lower down more reason to borrow,” says the report.

Christy Clark's Proposed Societies Act Overhaul Is Breathtakingly Stupid

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[This is one of the biggest local stories of the past year. Christy Clark proposes that oil, gas or mining companies be able to take environmental groups to court any time they believe that the group is acting contrary to the public interest - without ever defining that. "Not a single competent lawyer within the Ministry of Justice could say with a straight face that it's constitutional. The clear intent is to silence and intimidate Canadian conservation and environmental non-profits with the threat of litigation. And if mere threat doesn't work, this legislation enables the corporate sector to bludgeon them into lawsuit bankruptcy." Sign a petition here.Get more information here. See below on how to provide feedback on the government's White Paper. The deadline for submitting comments is, you guessed it, today. *RON*]
 Sandy Garossino, DeSmog Blog, 14 October 2014

B.C.'s Christy Clark government is proposing to overhaul…