Category: News

  • Precious, my Precious: Black Female Citizenship, Complexity, and the Politics of Unrelenting Survival

    As I sit against the florescence of the television screen, watching the conservative Fox News pundit Glenn Beck drive political nails into progressive leaders using the fear of U.S. blacks and immigrants of color as his hammer, my memory harkens back to the year in which the book Push was set, 1987. During that time, eugenics theories about the inherent laziness and criminality of black teenagers was rampantly resurgent in the news. Conservative research was cementing stereotypes of the black welfare queen, the crack baby, the HIV infected black woman as the truth that justified the destruction of the safety net as we knew it. Since then, health care has become increasingly privatized. Welfare has turned horrifically to an indentured servitude of workfare. The numbers of black women with HIV have skyrocketed. And the movie Precious, based on the book Push by Sapphire, was released.

    Caricatures or Complex Characters?
    Clarice “Precious” Jones is an extreme character, meant to shock the senses and unveil the underbelly of the brutality of racism and capitalism in the patriarchal land of the free. In the film and in the book, Precious is a dark-skinned teenaged girl who experiences multiple forms of oppression and violence at the hands of multiple perpetrators. In the movie, her sexually brutal father is an invisible or blurry character at best, while her mother, whose victimization as a woman was only alluded to, is cast as the primary perpetrator. It is only through the extreme telling of an extreme story that this dichotomy of inequity is revealed. There is only one man in the story as told in the movie – a male nurse- and the welfare and education systems which oppress black womanhood and subvert black female resistance are cast as saviors. Questions have been necessarily raised by black audiences -is this story the best way to reveal these contradictions? Is the mother the real villain? Does the story reflect reality or is it more of a caricature? And if a caricature how does that shape the impact of the film on the representations of black women in media and in the public psyche?

    I have known many black girls afflicted by multiple forms of abuse, compounded by addiction and illness. I have watched black women beat their children to bloody pulps in the street, cursing them the whole time. I have heard black mothers threaten to cut their daughter’s pussy out to prevent them from having sex. I have witnessed black women trade their daughters for crack. I have heard and seen so many things. And I have also seen those same exact women place themselves in front of a fist to save their daughters. I have watched those black mothers walk the hoe stroll for hours to make enough money to feed and house and clothe their babies, as they struggled to overcome addiction. I have watched, in my own home, my own beautiful black mother struggle with the decision to keep her man and have an adult life or protect her daughters and live for her children. Eventually, she chose the latter, though not soon enough. My mother was alone from the time I was about 14 to her death in 2005. That’s almost 20 years of intimate solitude in an effort to stand between her black daughters and the world of violence that waited for us in and beyond our home because she did not know how to manage both the safety of her children and her needs as a woman. These characters, Precious and her mother, are not simple caricatures, and yet the film chose some truths over others, and must be interrogated. This is by no means an exhaustive review, or a review of any kind. It’s what came for me after watching the film.

    Black Womanhood and Complexity
    Can you imagine that patriarchal colonialism and a generational experience of slavery can result in an experience of powerlessness and shame that can twist the mind and give rise to the belief that your three-year-old child has stolen your man? Can you imagine that there are black and brown girls, and boys, all over this world, that have HIV, have been raped by their father, sexually and physically abused by their mother, failed by the school system and exploited by the welfare system. And that these girls are brilliant and beautiful and full of unrealized promise- as are their mothers. These women are two sides of one coin, mother and daughter. Both trapped in different ways, both villainized by “culture of poverty” research, and exploited by the economic system and the civil institutions that touch and shape the daily texture of their lives.

    The Narrative of Black Female Citizenship
    This set of contradictions, this opening of an unhealed national and international wound, is not a mere regurgitation of racist and sexist images. There is a real untold story here, and the voice of that child and the voice of her mother need to be heard. They need to be heard because it is our silence on issues of sexual abuse and systemic violence that allows the space for the empire’s story about us to be the only one told. We do not control our media and cultural systems or the institutions of civil society, and therefore the narrative of black female citizenship has been used in so many ways as the lynchpin to justify the most brutal democracy in the world. The lies that our citizenship is somehow a gift and not a right, that our mothers are responsible for the socialization of black children and therefore the cause of their incarceration, and that our daughters have drained and massacred the economy, have justified mass incarceration, war, the privatization of social services and health care, and the defunding of public education. The same has been done to black men, using different stereotypes. But this, right here, is about black women.

    Let’s talk about education. It was a strong thread that bound this plot together through the realization of the unrelenting power of words. In the book Push, the transformation of Precious occurs over the course of more than a year. Her increasing sense of pride and self-worth is tied directly to her increasing ability to read. Literacy is a powerful thing. It increases one’s ability to navigate and transform the physical, political, and economic conditions we find ourselves subject to. The ability to express one’s story, to know that it will be witnessed, is as powerful a motivation for transformation as any. Why did the leaders of the Cuban revolution begin by increasing the literacy of the poor? For the same reason that Venezuela has placed so much import on democratizing their media system. Because the power of literacy, media or otherwise, is foundational for social change. The fact that the conductor of the orchestra in this case was a black lesbian added depth and complexity to the story of black women being told in the film. The depiction of black lesbians as allies to heterosexual black women was a blessing that brought tears to my eyes.

    Hollywood vs. Our Stories
    All this being said, the Hollywood version of the book absolutely invisibilized patriarchy, cast the system as a hero and not an actor responsible for the conditions of oppression in which Precious lived and survived, and over-simplified Precious’ mother as an animal who fed her child to the wolves. The movie’s flaws are real, and knowing that the film was being viewed by white middle class audiences whose ability to discern the notes in this song was minimal, was painful to experience.

    It doesn’t make the story less powerful, less revealing, or less necessary. But it does leave room for the next telling to make these contradictions less nuanced, the complexity more stark. For U.S. born blacks mitigated by a history of slavery and colonial violence, complexity is the name of the game. And though I am tired of our black mothers, whose internalized shame and experience of powerlessness sometimes results in extraordinary brutality, being cast in roles that are either victim or villain, and never as the complex intersection of both, never as victor- I was stunned to joyful silence by the numbers of young black girls and boys I saw in the theatre. This is a complicated conversation that is rarely had in our families or classrooms, and even more rarely had in public. And it needs to be had.

    Unrelenting Survival
    In 1987, I was 13, and the book Push changed my life. I identified in some ways with the experience of Precious. I remember the tenements, the crack houses, the emergence of AIDS and the way both devastated family connection. I recall the news, the myth of the teenaged super-predator, the labels of crack baby, welfare mother, the images of addiction and violence that shaped so many black children’s understanding of themselves. and then there are things I won’t talk about, that make me proud to watch Precious survive, and her mother repent, on the screen. Because I understand the untenable choices black girls and women feel, and are, forced to make.

    Today I am 35, and I am grateful for those precious black and brown children, those daughters of this nation’s dust, those human queens subjected to -and the perpetrators of-inhuman cruelty. Because with each individual survival there is a greater chance of our collective survival and transformation. And that is a story, a historical legacy that is the journey in my feet, the ancestor at my back, and the bitter at the bottom of capitalism’s cup. We are our mothers’ daughters, more than the sum of empire’s history, and our mothers are no worse than human. That is the story that needs to be told. Sapphire is one of hundreds of writers who pull back the veil on black female citizenship to reveal the abject bullshit of this democracy’s contract, place humanity back into the narrative, and open the door for complexity. Tell the truth, in all its complexity, regardless of the dominant group’s watchful gaze. And even when Hollywood distorts the tale, we will, by our own honest hands, set ourselves free.

    Cause we are watching too. And this, precious, is for you.

  • Invasion of the Fish Snatchers?

    Bighead carp are one of two non-native species of Asian carp causing widespread concern among Great Lakes advocates. The other is silver carp.

    Great Lakes advocates are calling it a “conservation emergency” now that non-native Asian carp have been detected within seven miles of Lake Michigan. They want an immediate closure of locks and gateways leading to the lake in a literally”last-ditch” attempt to keep the fish out.

    The fear is that the giant fish will disrupt the valuable Great Lakes sport fishery by outcompeting species at the top of the Lake Michigan food web, consuming the forage fish the established species depend on — and like many of the other 180 non-native aquatic species already in the Great Lakes, causing general ecosystem disruption.

    Read more of this story »

  • HTC’s official HTC HD2 tour

    HTC is grabbing a page from the book of most review sites by publishing their own 7 minute run through of the HTC HD2.

    Of course HTC is a bit late with this, and may have had a few more views if they released this 2 weeks ago, rather than a week after launch.

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  • If You Only Share A Tiny Bit Of A File Via BitTorrent, Is It Still Copyright Infringement?

    We’ve mentioned the ongoing lawsuit against ISP iiNet in Australia a few times. Basically, the movie studios are pissed off at iiNet because it didn’t do much in response to letters that were sent concerning IP addresses of those that the studios believed were sharing unauthorized works. As iiNet noted, however, it didn’t see why it was involved in any of this:


    They send us a list of IP addresses and say ‘this IP address was involved in a breach on this date’. We look at that say ‘well what do you want us to do with this? We can’t release the person’s details to you on the basis of an allegation and we can’t go and kick the customer off on the basis of an allegation from someone else’. So we say ‘you are alleging the person has broken the law; we’re passing it to the police. Let them deal with it’.

    The trial has been going on recently, and while I haven’t been following the details that closely (figure it’s worth waiting for the verdict), there was one interesting tidbit. As the company had suggested earlier, it’s arguing that sharing a file via BitTorrent is arguably not copyright infringement at all. That’s because of the way BitTorrent works, in breaking up any file into tiny components and sharing the individual pieces. A key element of copyright law is looking at how much of the content is shared. Down in Australia, they have a “fair dealing” exception to copyright law that appears to allow for copying small portions of a work, and some precedent of short video clips not being considered infringing.

    While I would be quite surprised if this argument worked (even if it may be technically correct, it’s so rare that judges pay attention to the technical aspects when it comes to copyright), I’m a bit surprised we haven’t seen this argued elsewhere as well. Of course, if it does actually work, it will only turn the focus back towards the question of whether or not “making available” violates the distribution right of copyright, since that would cover what BitTorrent users were doing, if they offered up any unauthorized content (even if they actually shared only a tiny fraction).

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  • The Garrett, Watts Report (November 20, 2009)

     

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    To Our Clients, Colleagues and Friends,

    · At mid-year 2009, the three top banks held 53% of all deposits in California .  Here are the top six, which collectively hold 65% of all deposits in the state.

    1.    24.5%  BofA

    2.    19.2%  Wells Fargo

    3.    9.6%  JPMorgan Chase

    4.    5.5%  Citigroup

    5.    3.5%  Mitsubishi UJF

    6.    3.4%  U.S. Bancorp

    A year ago, Wamu was #3 with 14% and World Savings was #4 with 5%.  Things change.

    • Okay, here’s how you pay for college in 18 years, based on what Paul Tuttle suggested when Hannah Garrett was born.  (1) Figure out how much money you’ll need, and (2) buy enough zero coupon bonds that mature in 18, 19, 20 and 21 years to fund that amount.  If you need, say, $100,000 in 18 years, you can buy $100,000 U.S. Treasury Zeros today at about 42.  This way, you’ll write a check for $42,000 and know that in 2027 when your son or daughter becomes a freshman, the bonds will mature at $100,000.  Do the same thing for each year, and as that guy says on late night TV, “Set it and forget it.”  The higher rates go, the cheaper the bonds will get, so be sure to schedule your baby’s delivery when rates are really high.
    • Hannah Garrett was astute enough to be born in 1991 when Treasury rates were about 8%.  At that time you could buy $100,000 of zeros for about $31,000.  This was one insightful baby, and her college bonds start maturing this year.  This is all thanks to Tuttlenomics.
    • We were on a local freeway yesterday when traffic came to a halt.  Maybe 20 feet away was a downed motorcycle, with the motorcyclist sprawled dead on the freeway. Things like this are disturbing on many levels and remind us of how fleeting life can be.

    · In an act of great charity, the FDIC has stopped issuing Cease & Desist orders.  They think it scares the public!   Instead, the kinder, gentler FDIC will now call them Consent Orders.  This, of course, is because the opening sentence has the Board of Directors signing a document in which they consent to receive a C&D.  People, a Board consenting to a Cease & Desist Order is like a man on death row consenting to a lethal injection.  And the best part (we’re being sarcastic) is that if you appeal it, it will be called a C&D and not a Consent Order.  Is this a great regulator, or what?· Did you know that at California banks under $100 million, only 25% of all CEO’s have their country club dues paid for by the bank?  If the bank is over $1 billion, 83% have their dues paid for.  This should make it obvious where you want to work.    At the smaller banks (under $100 million) the average CEO salary is $192,000. At a billion it goes to $482,000.· And what about Chief Financial Officers?  At banks under $100 million, the average salary is $131,000.  Once you get over $1 billion, it goes to $259,000. Quite seriously, higher salaries with increased size often, in our view, could be a very real reason why bankers grow their banks.· But what about Board members? Why would they want to see a bigger bank? At under $100 million, only 13% of the banks pay Director Fees, at an average of about $290 per meeting.  Once you get to $1 billion, fees go to about $1,080 per meeting.· Do you ever feel overwhelmed with reading material?  Pre-internet and e-mail, you read your daily newspaper, maybe 2-3 magazines a week, and the rest of the time was reserved for reading books. Now, you start the day with 100 e-mails, blogs, stuff people send you, etc, etc. etc.  You really need to fight to have time for books, but there’s really nothing quite like having a perfect book you can’t wait to pick up and read.  We’re re-reading An American Tragedy, and it’s that kind of book.· Forty years ago on Sunday, President John Kennedy was assassinated while on a motorcade in Dallas .  Strangely, Aldous Huxley and C.S. Lewis both died that same day.  Both were enormously popular writers, but their obituaries were very small stories buried in the back pages.  If you have to die, it’s useful to do it on a day when there isn’t much else happening in the news.
    jfk· A long. long time ago we wrote down the ten things we thought people should learn from going to school: (1)  Discipline and perseverance, (2)  tolerance and compassion (3)  how to make friends (4) honesty  (5) courage to deal with the unknown  (6)  curiosity  (8)  ability to have fun   (9)  introspection  (10)  taking responsibility for your actions  (11) a love of reading and (12) a sense of history.  And long after you’ve forgotten what a cosine is or how to conjugate French verbs, won’t these lessons still be with you?· And isn’t it amazing that Google, which didn’t exist as recently as 1997, generated $22 billion of revenue last year?  This is the sort of thing that makes us so optimistic about our nation’s future. When people worry about what America will do, now that we’re not really a manufacturer anymore, the answer is “No one knows, but no one knew that Google would come along when it did.”  As long as we have entrepreneurs, the profit motive will continue to create new businesses that create jobs and wealth.· And how about that Manny Pacquiao?  Have you ever seen a tougher boxer?  He goes out and beats the hell out of Miguel Cotto, sending Cotto to the hospital, then goes to a nightclub where he performs late into the morning with his band.  We saw Oscar de la Hoya in a few fights and never saw someone as tough, but Pacquiao beat the absolute stuffing out of him a few months back.  This guy Pacquiao just might be a smaller version of Muhammad Ali.· When we wrote about the types of risk financial institution faced, we got a ton of suggestions. We can’t go into them all here for lack of space, but thanks, Peggy, Herb and the rest of you who wrote in with your thoughts on risk management.· We waste lots of time looking up statistics on the Oakland A’s, even when they were in Kansas City or Philadelphia , so here’s a doozy.  On April 22, 1959, the White Sox held an 8-6 lead over the A’, but they went on to score 11 runs on only 1 hit in the 7thThat inning featured one single, two players reaching base on errors (plus an additional error), a bases-loaded hit batsman, and 10 walks, 8 of them with the bases loaded.  The A’s outfielder that day was Roger Maris who was probably so disgusted that he decided then and there to get traded away, preferable to the Yankees.· What’s up with TARP? The government has invested $204 billion in banks, has been paid back $71 billion, and has received $10 billion in interest and dividends.· What would happen if you lost your Blackberry, i-Phone or cell phone?  We’d suggest typing up your name, your e-mail address and home or office phone number and then taping it to all these devices.· Here’s the most amazing short surfing video you’ll ever see.  Skip the intro button on the bottom and get right to it.  It’s a 40-50 foot wave, maybe from Mavericks: http://www.metacafe.com/watch/4684/amazing_wave_surfing/· We just finished the Due Diligence involving a $2.0 billion mid-west bank buying a mortgage banking company.  We covered finance, operations, secondary marketing, systems, and countless sub-areas, along with due diligence on their servicing portfolio.  One of the main attractions to the bank was that the servicing department has $25 million in DDA impounds.· We just saw the perfect movie, perfect in that it’s perfect for a first date, a last date, college kids, a married couple, a father and his daughter, a son and his mother, you and your grandmother, people with tattoos and piercings, and people disgusted by tattoos and piercings.   It’s Forget Paris starring Bill Chrystal.  Very hilarious, sweet, romantic, and very engaging.  See you next week, maybe once before Thanksgiving.Garrett, Watts & Co.  Helping mortgage lenders increase revenues, control costs, and better manage risk.

    • Corky Watts         408-497-3135
    • Joe Garrett         510-469-8633   
    • Mike McAuley      281-250-2536

  • Social Technology Impacts Every Customer Touchpoint

    Forbes CMO Network, An Insightful Resource For Marketing Leaders
    I’m serving CMOs by teaming up with the Forbes as a regular contributor. My goal? To guide marketing leadership on how to leverage disruptive technologies and meet business goals.   At a more detailed level, this blog will continue to aim at providing nitty-gritty breakdowns, frameworks, and insights.  Use these two resources in tandem to both develop strategies, and then implement best practices across the organization.

    [Companies Must Develop A Holistic Strategy, As Social Technologies Impact Every Customer Touchpoint]


    Social Technologies are a Horizontal –Not A Vertical Approach
    It continues to amaze the market that such simple social technologies can impact the entire organization.  In fact, social technologies, at the core, allow people to connect to each other without a middle person in the way.  As a result, expect social technologies to impact every employee and customer touchpoint.   CMOs must prepare in their 2010 planning how to leverage social, not as a skunkworks but as a strategic shift in all communications.

    Three Resources to Use:

    1. Use the Forbes CMO article as a guide for your marketing leadership, pass along this article “CMOs: Consumers Are Connected. You Need To Be, Too”.
    2. Below, use the detailed matrix (and the links within them) for the strategists who need to plan out the actual programs.
    3. Leave a comment with other suggestions, and benefit from working with the very savvy Web Strategy community, who I learn from every single day (thank you).

    Web Strategy Matrix:  Social Technologies Impact Every Customer Touchpoint

    Medium Description and Examples Market Maturity Impacts To Brands
    Digital Advertising Facebook launched “Social Ads” that allow advertisements to appear based on your profile information and friends. Infantile As profiles become portable (like Facebook or Google connect) people can share their personal info for contextual experiences, expect advertising to improve CTRs as social data is added.  See how an interactive ad benefitted from my Facebook data.
    Search Marketing (Paid and SEO) For years, bloggers heavy linking and frequent content have scored high on SERP pages. Recently, Google and Microsoft partnered with Twitter, to offer “Social Search” which means users could received customized SERP based on their friends behaviors and preferences. Pre-Teen Social search will impact a prospects search results are impacted by their friends, this complicates the traditional search marketing strategy of simple keyword placement. Conversational marketing becomes a key factor in search strategy. Learn more about Social Search.
    Email Marketing Many email vendors like Responsys, ExactTarget, Constant Contact and Zeta Interactive provide simple ways to “share this” email with their friends on social networks. More advanced vendors are offering advanced monitoring, and innovative companies like Flowtown are using email addresses to identify a prospects social networks Infantile Email marketers can no longer be in broadcast mode, but must be prepared for emails to be shared with each other. Furthermore, they should seek how to influence content on the newsfeed in social networks like Facebook and LinkedIn.  Learn how email and social networks are interlaced.
    Web Campaigns/Microsites Traditional microsites now have social components from simple “Share this” features to viral videos and community dialog. On the extreme side, Skittles allowed the whole site to be taken over by consumers. Adult A marketing campaign today without social elements is asking to be ignored. To benefit from word of mouth, marketers know spurring a conversation will cause the campaign to spread.
    Corporate Site Corporate sites are integrating social features, From Community Platforms like Mzinga, Awareness, Pluck, Kickapps, Liveworld (client) they encourage customers to talk back. Young Adult Even if companies don’t want their website to be social, they can’t stop it. Google’s “SideWiki” product allows any webpage to be social using a browser plugin.
    Mobile, Location Based Location based social networks are quickly emerging among early adopters. Foursquare, Gowalla, and even Twitter are allowing people to share their location, time, and social context. Infantile Advertising and special offers becomes more targeted as brands can triangulate contextual information for consumers –but only if they desire to see it.
    Sales Efforts Ok, this isn’t a medium, nor the two listed below, but it impacts the scope of the CMO. Most marketers provide sales enablement resources, now these sales folks are armed with LinkedIn, Facebook, Twitter. In fact, many sales folks have had their digital rolodex in LinkedIn for years. Young Adult For savvy marketers, providing social marketing skill training to sales folks will provide them with best practices, and teach them to do more quicker. Those that do nothing run the risk of PR nightmares and even legal problems for the untrained department. Learn about social media policies.
    Support Efforts What happens in customer support now echos on the social web, from Dooce’s flare up with Maytag to Domino’s Employees snotting on Youtube.  Furthermore, customers self-support each other in forums, Facebook, and GetSatisfaction. Adult Marketers must provide a holistic experience to customers, as they don’t care what department you’re in.  Read more about Social Support.
    Product Development A handful of savvy companies like Dell, Starbucks, and Nokia are using social tools to improve the innovation process using tools from Salesforce ideas, Uservoice, or Getsatisfaction Infantile Customers want to innovate with brand, use these free resources to improve brand messaging, test new features, and to develop an army of advocates.  Learn how some companies have benefitted from co-innovation.
    Real World and Events Physical events are now impacted by social technologies, and even virtual events.  Attendees will connect to each other, comment about the event, and discuss if even after the event has concluded. Adult Event marketers must develop a strategy to encompass both pre, during, and post event to be successful.  Here’s a playbook to integrate social and events.

    Sharing This Content
    Occasionally, I get a few emails from people asking if they can use my blog posts in their presentations. Here’s my policy: You cannot package up this content and sell it without my permission. However, it is ok to use for educational purposes as long as you give me credit on the slide, mention it verbally, and link to my blog. Creative Commons defines this as: Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License. Love to hear your comments below, and how social impacts all digital channels.

    Thanks to Christine Tran, Altimeter Researcher for her editorial expertise on the Forbes piece.


  • REPORT: Ferrari working on radical new door opening

    Filed under: , ,

    As if scissor doors, gullwings, butterflies and those crazy Koenigsegg pivoters weren’t enough to separate exotics from lesser cars, Ferrari is said to be working on another new door design that is both radical and practical. Go figure.

    Autocar came across a patent filing showing a few diagrams depicting this unique door setup. What sets it apart is the fact that the new Ferrari door includes part of the front fender and hinges upward like the butterfly door from a LeMans racer. Apparently the opening is large enough and shaped in such a way that “occupants can place their foot directly behind the front wheel.”

    According to the patent application, that will make ingress and egress much easier for passengers in low-slung supercars, though the new door design is said to work just as well on front engined cars as it does for vehicles with their engines mounted aft or amidships. Even better, this design and its unique hinges are reported to be “easy and cost-effective to make,” which should make it easier for the Dodge Chargers of SEMA circa 2012 to get in on the fun too.

    We’re still seeing an issue with the A-pillar and windscreen, but it looks interesting. We’ll be sure to keep an eye out for any photos of these funky doors, but for now we’re stuck wondering how hard it was for Ferrari engineers to use the supplied British sports car diagram in order to submit their application form.

    [Source: Autocar]

    REPORT: Ferrari working on radical new door opening originally appeared on Autoblog on Fri, 20 Nov 2009 15:58:00 EST. Please see our terms for use of feeds.

    Read | Permalink | Email this | Comments

  • PSN video content update: killers, spaceships, and giant robots

    Star Trek and Transfromers: Revenge of the Fallen headline this week’s Video Store update, backed by a mob of blood-drenched killers — Hitman, the un…

  • Jumbo program; News from SunTrust, GMAC, DR Horton, Chase; Rates quiet

     

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    One top ex-secondary guy wrote to me and said, “Things I sort of miss hearing in mortgage banking: “What are rates gonna do tomorrow?” “Why is IndyMac a point better than we are?” Anything associated with “Did you hear what they said on CNBC this morning…….?” “How come I’m losing money on the hedge?” And “See that rep over there? We ended up naked in a hot tub at a conference back in ‘94.” I tell you, sometimes this commentary writes itself.

    Right now, companies all over the US are talking about next Friday. Either the companies are closed, and the employees have the day off to go spur the economy, or companies are open. Those that are open may have low seniority people at the desks, or people who don’t care about taking the day off and would rather “bite the bullet” and come in for the day after Thanksgiving. US Postal service is in effect, and therefore it counts as a rescission day. But lock desks, and loan sales, will slow down next week with the holiday coming up.

    Maybe folks are out there thinking about their upcoming holiday parties, assuming lay-offs have not been too dramatic and they’re actually going to have one. So here is one for you men out there: http://news.bbc.co.uk/2/hi/health/8367141.stm

    Will the jumbo market ever come back? I, for one, believe that it will. Obviously many banks offer the product through their retail branches – it earns them a very nice spread versus their cost of deposits. Things are a little iffier through the correspondent channel, but moving in the right direction. Chase, for example, offers non-agency product to eligible Chase clients.

    More news about Chase, GMAC Correspondent, D.R. Horton, Suntrust, stock and bond markets, more on short sales, and joke of the day <<< CLICK HERE

  • What President Obama (Should Have) Learned about Energy Policy during his Visit to China

    CONTACT:
    Laura Henderson (202) 621-2947
    Patrick Creighton (202) 621-2951

    Washington, DC – In anticipation of President Barack Obama’s return from Asia, the free-market Institute for Energy Research (IER) today released and delivered a policy brief for the president and his advisors on China’s booming energy economy and growth.

    Thomas J. Pyle, president of IER, issued this statement:

    “By all accounts, the president’s trip to Asia was a successful one, and we welcome him home. However, it’s critical to highlight the commonsense energy policies that China is pursuing. Because of China’s aggressive pursuit for affordable, reliable and secure energy – of all forms – their nation continues to be one of the world’s most powerful economic engines. And our team of experts have prepared a compelling outline of ways the U.S. can learn from China and once again make energy a top priority in this country.

    “China is manufacturing coal-fired power plants by the week, nuclear plants every few months, the largest hydro-electric dams on earth, windmills and solar panels for export, and securing up oil and gas reserves around the world. They understand that affordable energy is key to economic activity, growth and prosperity.

    “Unfortunately, policymakers in Washington are working to increase the cost of energy and limit access to our most affordable resources while others work tirelessly to shut down our nation’s power plants, regardless if it results in the loss of jobs and higher energy costs. Litigation and inaction from federal bureaucracies continues to delay responsible offshore energy exploration. And while China is deploying next generation nuclear technologies, our government continues to say no to low-carbon nuclear energy.

    “We hope someday that expensive and unreliable alternative and renewable energy forms can exist in the market place without significant taxpayer assistance and government mandates. And we hope the president reads this paper with an open mind.”

    NOTE: Click HERE to view the briefing paper sent to the President today.

    #####

  • REPORT: Tesla Motors planning IPO “soon”

    Filed under: , ,

    Tesla Roadster – Click above for high-res image gallery

    Rumors about Tesla’s plan to go public have been circulating since 2008, but a down stock market seemed to put a damper on the start-up’s IPO. Now, the word on the street from Reuters is that Tesla is planning to go public “soon.” When might that be, exactly? Who knows. A source told Reuters it could happen “any day,” but Stephan Dolezalek, managing director of VantagePoint Venture Partners and a Tesla investor, said in September that it’s unlikely to happen in 2009.

    For its part, Tesla continues to offer little guidance on the report other than to dismiss it as “rumor or speculation.” We shall see…

    [Source: Reuters]

    REPORT: Tesla Motors planning IPO “soon” originally appeared on Autoblog on Fri, 20 Nov 2009 15:30:00 EST. Please see our terms for use of feeds.

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  • Sadly, CERA’s Optimism Over Oil Production Is Total Nonsense

    gulf mexico

    (This guest post originally appeared at the oil drum, and is licensed under Creative Commons Attribution-Share Alike 3.0 United States License)

    One of the features of many models that are used to predict future events is that they focus on target years. Decadal years are the most common target years, so that whether talking of climate or the amount of oil or natural gas available, models focus on, for example, the amount that will be available in 2030. The problem with this approach is that it leaves the public to think that a problem is not yet serious. For example if the prediction is that the production of oil will only be 75 mbd, in 2030 then there is an implication that until 2030 that the situation will remain fine.

    However the world does not reach those levels by continuing in the business as usual mode for the next 21 years, and then suddenly have production drop off a cliff one Friday night. Rather it is a problem that inexorably will grow, year on year, between now and then. I was struck by this thought as I looked through the latest comments from CERA/IHS on their view of the future of oil supply. Their view, as we have come to expect, is an optimistic one, and though we are not still living in the days of $30 oil that they had, at one time predicted, it is worth looking into so as to provide some explanation of the difference between their view and mine.

    Let me begin with a reason why I tend not to be immediately and totally swayed by the thinking behind the CERA report, and their conclusion that:

    Global oil productive capacity will grow though 2030 with no evidence of a peak of supply before that time.

    It has not been that long since we were assured that production of oil from Mexico would be maintained at levels of 4 mbd through 2015. In 2005 we have:

    CERA said that oil from non-conventional sources would widen to 35% of capacity in 2015 compared with 10% in 1990. The research points to growth in output from ultra deepwater drilling in the U.S. Gulf of Mexico, Brazil, Angola and Nigeria; 250% more heavy oil production capacity from Canada and Venezuela; and the expansion of condensate and natural gas liquids to 23 million barrels per day from 14 million barrels per day currently.

    The EIA is anticipating that Mexico will produce an average of 2.9 mbd in 2009, falling to 2.7 mbd in 2010. And the latest chart from CERA (downloadable at their site) shows a much reduced increase in production of the heavy oils by 2015, for a start.

    CERA has, unfortunately, not only continued to shine an overoptimistic light on future production, but has also tended (as sadly it has also done in the past) to gloss over some of the problems – vide:

    Though a peak in global production is not imminent, there are major hurdles above ground to negotiate.

    These surface hurdles no doubt include the minor details as to how to get significantly more production out of Iraq. It is all well and good to read reports such as:

    Iraq is planning to increase its production capacity to approximately six million barrels per day within 80 months, following the signing of service contracts with a number of major international oil companies. This is in addition to the other agreements which are expected to be reached by next December, whereby Iraq’s production capacity may be increased to reach around 10 million barrels per day at the end of the next decade, compared to 2.5 million barrels per day at present. The overall cost that will be borne by the international companies investing in developing the Iraqi oil fields will amount to about one hundred billion dollars. Needless to say, these agreements are considered to be a historic event (both economically and politically), not only for Iraq, but also for the oil industry itself in the Middle East, and for the global oil industry.

    Adding 7.5 mbd to existing world supplies would certainly go a substantial way toward meeting the existing and well documented declining production from so many of the major fields of the world. But is that target a realistic one – let me sound perhaps a little more cynical than some and raise a slight modicum of doubt. While it is nice to be optimistic, the reality still fills the headlines of too many papers and news reports.

    Of course, it is expected that these companies will face some obstacles and delays as a result of terrorist attacks against their employees and sabotage against its installations. Also, the need arises to increase export capacity that can accommodate the ensuing increase in production, in addition to attracting a sufficient number of professionals and technicians to work in Iraq under the current circumstances, and procuring the necessary machinery and equipment on time. Despite all these potential obstacles, the delays in these projects are not expected to be significant, since similar experiences in other oil producing countries have shown that such delays only cost a relatively limited and not long amount of time.

    Thus even though there are some big players moving into that game, it is a little premature to be optimistic.

    In other aspects of the report the average field decline rate, which CERA ties to 4.5% – but includes fields with rising production in the calculation, masks the reality of an increasing level of decline in fields that are past peak. As we saw with Cantarell, post-peak collapse can come more rapidly and severely than earlier forecast.

    At the same time the move to produce alternate fuels, such as cellulosic ethanol for vehicles, seems to have hit more technical and economic snags that may well considerably delay the target production that has been anticipated for this alternate fuel, feeding into an overall reduction in “other” fuels beyond the level that CERA still optimistically holds to (raising unconventional liquids, in their view, from 14% of global capacity today to 23% by 2030).

    It is notable that in the version of the report I got, while CERA lists three scenarios, Asian Phoenix, Global Fissure and Break Point, it only briefly mentions the assumptions and impacts that the different scenarios will have on both demand, and thereafter supply. Given that I noted just recently that China is signing up for another 1 mbd delivery from Saudi Arabia, and that sales of cars in both countries are rising at significant rates, one can anticipate that that market is likely to develop into the Asian Phoenix that one might imagine is presaged by the title of the CERA scenario.

    The growth of that new market is recognized with the opening of the new port of Kozmino by Russia with the potential for shipping up to 1 mbd of oil, with China as a major customer. (Which raises a question for another post on which customers will lose out as China gains.)

    But to now get to the nub of my point; this is that there is already a changing market and demand for oil and its products that is developing in the short term. The longer term view of potentially available resources that are not yet found, does not address the problem of how big a tap can be made available to meet demand over the next six years. There are serious questions, within that time frame, of the ability of some of the largest fields in the world to sustain production at their current levels.

    Longer term forecasts will be forgotten long before they are called to face reality. Unfortunately the optimism they project can lead people astray in the shorter terms, where the conditions have been glossed over.

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  • The SEC Lets Oil Companies Use Fantasy Mark-To-Model Numbers To Report Their Holdings

    This sounds familiar .

    Felix Salmon: What are the consequences of allowing multi-billion-dollar systemically important multinational corporations to report their assets using proprietary mark-to-model tools involving discredited Monte Carlo simulations? I think we all know the answer to that one. But unbelievably, after such shenanigans contributed enormously to the greatest financial meltdown in living memory, the SEC is now set to allow more or less exactly the same thing in the oil industry.

    Otto points to a stunning report by oil consultant Alan von Altendorf which spells it all out. Up until now, oil companies needed to actually prove they had reserves before they reported proven oil reserves. Now, however, the SEC is allowing them to use internal, proprietary computer models to essentially pull their “proven reserve” numbers out of thin air (or the nearest friendly Monte Carlo simulation).

    We’re not quite as appalled as Felix is — for one thing, oil companies don’t pose systemic risk the same way as financial companies, so just because you can draw a line between overuse of models and the financial blowup, it doesn’t mean we’ll suffer similar repercussions if these models turn out to be total BS.

    And, of course, models are useful, and frequently better than actual counting (see: the census controversy)



    null

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  • 4 Big Gambles Google Is Taking With Chrome OS

    You’ve gotta hand it to Google: The company is never shy about throwing the proverbial spaghetti against the wall to see if it will stick. Over the years, it’s introduced countless projects that have gone through long beta cycles only to fail miserably — or achieve a degree of success far below what was expected. Google Docs, for example, was supposed to topple Microsoft Office, and is still predicted to do so, but if that ever happened, I missed it.

    Next year, Google will introduce one of its most ambitious projects yet: Chrome OS. There are quite a few misconceptions going around about the new operating system, among them that it’s aimed squarely at Microsoft’s operating system hegemony. It’s not. Chrome OS is targeting netbooks, not desktop and server systems. Still, the operating system includes some bold gambles from Google. Here are four of them.

    Return of the thin client. Take a look at this CNet news story, which reports that  “Oracle’s Larry Ellison today resurrected the company that designs a scaled-down desktop system — known generically as the network computer — and announced plans to ship new models in the first quarter of next year.” But note the date: 1999, not 2009. Indeed, Ellison was championing thin clients — computers with few local hardware resources that would get applications and data out on a network — back in the late 1990s.

    It was an idea that was subsequently tried many times, and failed. Yet fast-forward to today, and Google’s Chrome OS is placing the very same bet. As company officials noted yesterday: “In Chrome OS, every application is a web application. Users don’t have to install applications. All data in Chrome OS is in the cloud.” Chrome OS netbooks will be thin clients.

    All data in the cloud? Many of the smartest people predicting the future of cloud computing are noting that companies want to deploy hybrid public and private cloud applications, namely because they don’t want to have all of their data on a remote network, with little control over it and the potential for lock-in and losses. However, Google’s Chrome OS is a bet that consumer and business netbook buyers will be perfectly happy to trust everything to the cloud. There won’t even be hard disks on Chrome OS netbooks — only solid-state drives. Will users accept such an absolutist model?

    Poof goes the OS. Chrome OS is architecturally very different from other operating systems, bypassing many types of boot processes and others in order to optimize performance. Additionally, however, the OS will actually reimage itself if malware is detected. If Google pulls this off, Chrome OS systems may be free of the guaranteed performance decay that Windows systems tend to have over time. Still, users may be wary about an operating system that’s ready to exit stage left at any given moment.

    Drivers? Support? Fuhgeddaboudit. Have you ever called Google for Google Docs support? I haven’t either, even though I use the applications. When you release an operating system, though, if it reaches a large audience, that audience is going to want support. Just ask Microsoft, which spent years trying to effectively support and patch Windows Vista.

    In addition to excellent support, which I don’t think of as Google’s specialty, users of Chrome OS are going to want their netbooks to work seamlessly and instantly with their printers, digital cameras, smartphones and more. Chrome OS isn’t being built from scratch. It’s Linux-based (the Ubuntu team at Canonical has been helping it take shape), so Google can get a headstart by incorporating existing driver libraries and the like.  But Microsoft spent years trying to catch up to Apple in terms of automatic hardware detection and installation with its Plug-and-Play initiative, and Apple users will tell you that it never quite succeeded. Is Google about to find out what a huge headache it can be to support an operating system? History argues that will be the case.

    Don’t get me wrong. I think Chrome OS will be one of the most interesting tech stories to watch next year. In many ways, though, it’s a Hail Mary.


  • UK Digital Economy Bill As Bad As Expected; Digital Britain Minister Flat Out Lies About ISP Support

    Just as the leaks predicted, the UK government has offered up its Digital Economy Bill, which includes massive changes to copyright law, including the power of the government to effectively change the law at will with little to no oversight. Basically, it would let the Business Secretary, Lord Mandelson, change copyright law through secondary legislation, which requires no Parliamentary approval. As people are noting, Mandelson has had to resign from elected positions twice in the past in disgrace, and is now in an unelected position. And he’s the guy who gets to change copyright law at will? That does not seem right. On top of that, the bill doesn’t even specify “three” strikes for users. Instead, it requires ISPs to notify users with warnings — and to notify copyright holders that they did notify users — and if file sharing is not reduced by 70% in a year (with no indication of how this is measured), then the government will tell ISPs to start kicking people off the internet.

    Furthermore, Minister for Digital Britain Stephen Timms, who introduced the new bill, claimed that 99% of ISPs are “broadly supportive” of the bill. That’s funny because BT and TalkTalk — two of the largest ISPs in the UK — have loudly complained about the plans (with TalkTalk threatening to sue, and BT saying that this solution is “not the way forward”) and the ISP Association, which represents ISPs in the UK has loudly slammed the bill as unworkable and backwards looking:


    “ISPA members are extremely concerned that the bill, far from strengthening the nation’s communications infrastructure, will penalise the success of the internet industry and undermine the backbone of the digital economy,” the industry group said.

    Nicholas Lansman, ISPA’s general secretary, said in the statement that the government’s proposals were “being fast-tracked… and will do little to address the underlying problem”.

    “Rather than focusing blindly on enforcement, the government should be asking rights holders to reform the licensing framework so that legal content can be distributed online to consumers in a way that they are clearly demanding,” Lansman said.

    So, where exactly are the 99% who are supportive of the bill? Or is that RIAA/IFPI/BPI math?

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  • VIDEO: Deconstructing the end-of-the-world limo ride in 2012

    Filed under: ,

    Click above to watch the video after the jump

    We’re still early in the holiday movie season, but the clear early winner is the blockbuster world-ending thriller 2012. The pic cleared $65 million in its first weekend in the U.S. and a stunning $265 million around the globe. If you have already seen the movie or if you’ve just checked out the five minute clip we showed you last month, then you know this disaster flick is chock-full of CGI destruction on a scale we quite frankly have never seen before. And our favorite scene stars a Lincoln Town Car limo that somehow manages to survive (like the Panther platform upon which it is based) while the virtual world quite literally crumbles around it. It makes us wonder how that scene was made to look so damn real.

    Well, we didn’t have to wonder for long, because YouTube has come to the rescue with video of how the scene was created. A company called SWAY Studio created a simulator/program called Drive-A-Tron that works like a virtual stunt driving machine with very realistic-looking results. The simulator features a real steering wheel, along with brake and accelerator pedals to capture the action in real time. SWAY reconfigured the machine for the big screen action flick so the program could interact with moving terrain, and since the system features true to life engine, suspension and even tire inputs, the final product looks pretty damn real to us. Hit the jump to watch how the Lincoln Town Car limo scene was created. Pretty interesting stuff.

    [Source: Raging Artists]

    Continue reading VIDEO: Deconstructing the end-of-the-world limo ride in 2012

    VIDEO: Deconstructing the end-of-the-world limo ride in 2012 originally appeared on Autoblog on Fri, 20 Nov 2009 14:58:00 EST. Please see our terms for use of feeds.

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  • Air Canada Will Offer In-Flight Wi-Fi, Too

    Air Canada is testing an in-flight Wi-Fi service from Aircell on its flights between Toronto and Los Angeles and Montreal and L.A. From now until Jan. 29, passengers can plunk down $9.95 per flight to surf on a laptop and $7.95 to access the Internet on smaller devices such as a smartphone or WiFi-enabled media players like the iPod touch. AirCell also provides its GoGo in-air Wi-Fi service on Delta and American Airlines flights in the U.S.

    And because Aircell currently only has regulatory approval and the antenna coverage that enables airlines to offer Wi-Fi in the U.S., Air Canada passengers can only get their Wi-Fi fix when flying over U.S. soil. Perhaps that accounts for the slight discount on Air Canada’s prices for Wi-Fi when compared to American’s charge of $12.95 for in-flight access.


  • HTC HD2 Flash Light now with morse

    I’ve just updated my Flash Light application for those that want such a thing, so it now has morse!

    • Press and hold

      The LED will remain on whilst your finger is in contact with the screen

    • Double tap

      The LED will remain on till the next double tap.

    • Morse

      Swipe left/right to enter Mmorse mode, then type your message and hit enter to have it display.

     

    It can be grabbed from the thread here.

    Share/Bookmark

  • Join the Great HTC HD2 battery thread

    htchd2batteryissue HTC HD2 battery life has been a hot area of contention, with some reporting excellent battery life (and have bench marks to prove it) and others (like me) not making it through even an 8 hour business day on one charge.

    The forums at TracyandMatt.co.uk is one place where HTC HD2 owners congregated to discuss the issue, so if you want some reassurance than your experience is not unusual, or maybe pick up tips to manage the issue, head right over there.

    Thanks James for the tip.

    Share/Bookmark

  • What Can the U.S. Learn from China’s Energy Policy?

    PDF Version (1.1 MB)

    “The joke among China hands goes like this: If the Americans and the Chinese start talking about a major project today, in two years the Chinese will be done and the Americans will still be talking and applying for permits.” – Michael Economides

    China’s economy is growing at a rate of 9 percent per year, and forecasts have its fast pace of economic growth continuing, though at a slightly lower rate.[i] Eager to bring more of its citizens out of poverty, China will not let energy be a bottleneck for such growth. Because it has limited domestic oil and gas resources, China is investing globally to ensure supply. The world’s most populous country is also expanding its coal-fired electricity capacity at breakneck speed and making a major commitment to nuclear energy. In smaller quantities, and under international pressure from the environmental community, China is also constructing solar- and wind-powered generating facilities, to the point that 30 percent of its wind capacity cannot be supported by its electric grid. Yet even with all these other technologies, coal will remain China’s mainstay for a very long time since coal is its most abundant and least expensive resource.

    All this is happening in a developing country that learns from others, and quickly outperforms them by manufacturing the same materials at significantly less cost, thus increasing its export market. It is also a country where there is a lot less red tape: regulations, legal delays, and financing issues do not stand in the way of its energy construction progress.[ii]

    Coal

    China currently gets 70 percent of its energy from coal[iii] and is expected to retain this fuel as its major source of energy at least through the next several decades. China ranks third in the world in recoverable coal reserves,[iv] after the U.S. and Russia. Its annual coal production and consumption is the highest in the world, more than twice that of the U.S.[v] Both China’s generating sector and its industrial sector rely heavily on coal, with 79 percent of its electric generation being coal-fired.[vi] The Energy information Administration (EIA) expects that 75 percent of China’s electric generation will still be coal-fired in 2030.[vii]

    That EIA forecast expects 600 additional gigawatts of coal-fired capacity to be built in China between 2006, the most recent year of reliable data, and 2030.[viii] That equates to 50 plants a year of 500 megawatt (MW) capacity, or 1 coal plant coming on line each and every week for 24 years. From current reports, China is meeting this goal by planning to build 500 coal-fired plants over the next ten years.[ix] That means: every week to 10 days, China will open another coal-fired power plant that is big enough to serve all the households in Dallas or San Diego.[x]

    Wind

    Not only is China building coal-fired plants to increase its generating capacity; it is building them to back-up wind power when the wind doesn’t blow or when the grid is inadequate to handle the wind capacity. Last year, as much as 30 percent of China’s wind power was not connected to the grid. Adding to the problem is poor connectivity between regional transmission networks, which makes it difficult to move surplus power from one part of the country to another and thus requires each region to have sufficient reserve capacity.[xi]

    Even with these problems, China has a goal to produce 15 percent of its energy from renewables by 2020.[xii] To help meet this goal, China is planning to build the world’s largest wind farm in the northwest part of the country. The plan is for 5 gigawatts in 2010, expanding to 20 gigawatts in 2020, at a cost of $1 million per megawatt,[xiii] or $1,000 per kilowatt, about half the cost of an onshore wind unit in the U.S., according to the Energy Information Administration.[xiv]

    While China is manufacturing wind turbines for domestic use, few of its wind turbines are currently being exported. But that may soon change if the U.S. allows a consortium of Chinese and American companies to build a 600-megawatt wind farm in West Texas, using turbines manufactured in China.[xv] One-third of the wind farm’s funding will be from federal stimulus money and about 330 jobs will be created in the U.S., mostly temporary construction jobs. The labor-intensive work of building the turbines will also create thousands of jobs in China. GE will provide the gearboxes of the turbines, but they too will be made in China.[xvi] GE, a major U.S. wind turbine producer, already owns three facilities in China that produce turbine components.[xvii] And GE is planning a factory in Vietnam that will employ 500 local workers and export 10,000 tons of components to GE Energy assembly plants around the world.[xviii]

    Solar

    China leads the world in solar cell manufacture, although 95 percent of its production is exported.[xix] Currently, China itself generates very little electricity from solar power. At the end of 2008, about 0.01 percent of its grid-connected electric generating capacity was from solar.[xx] However, in September, Arizona-based First Solar signed a deal to build the world’s largest solar farm in China by 2019, which will supply power to 3 million homes.[xxi]

    Realizing that the U.S. may be a good market for solar, China’s Suntech, the world’s largest supplier of solar panels, announced plans to build a solar manufacturing plant in Phoenix, Arizona, with production beginning next year. Arizona was chosen because its Renewable Energy Standard requires that 15 percent of the state’s electricity generation be supplied from renewable power by 2025 and because Arizona favors distributed generation, whereby power is provided locally for homes or businesses.[xxii] Suntech’s factory will create finished panels from subcomponents that will be manufactured in the company’s Chinese facilities. According to Suntech, locating the assembly in the U.S. will lower delivery time and costs, as well as reduce the overall carbon footprint of getting finished panels to U.S. customers.

    Because of Chinese and other Asian competition, the cost of solar panels dropped 50 percent in the past 18 months.[xxiii] Due to lower operating costs in China, a U.S.-based firm, Evergreen Solar, after receiving over $58 million in incentives from the state of Massachusetts, is moving its assembly plant to China.[xxiv] (In 2008, Massachusetts’s industrial electricity prices were 115 percent higher than those of Arizona.[xxv] Industrial electricity prices in Massachusetts are lower in 2009, making the differential in prices through August 2009 only 69 percent.[xxvi]) The push to get China into the solar power market seems to have some environmental consequences. China is a major worldwide producer of polysilicon—the key component of sunlight capturing wafers. The manufacturing of polysilicon, however, produces a highly toxic substance, silicon tetrachloride, which can be recycled back into the production cycle. In China, however, many factories are dumping the waste product because of the high investment costs and time required for the recycling process, and because of the enormous energy consumption needed to heat the substance to more than 1800 degrees Fahrenheit. People close to the sites where the substance is being dumped are complaining of illness, crop failures, acrid air, and dead fields. But owing to the shortage of polysilicon, the Chinese Government is willing to overlook these complaints.[xxvii]

    Nuclear

    China is also building nuclear power plants, with 20 nuclear reactors under construction and more starting construction this year.[xxviii] Four AP 1000 reactors are under construction at 2 different sites: Haiyang and Sanmen.[xxix] These are the same reactors that the U.S. Nuclear Regulatory Commission (NRC) has ruled need additional analysis, testing, or design modifications of the shield building to ensure compliance with NRC requirements.[xxx] China expects to achieve a total nuclear capacity of 60 gigawatts by 2020, and 120 to 160 gigawatts by 2030,[xxxi] surpassing the total nuclear capacity of the United States.

    Natural Gas

    China is not well-endowed with natural gas, having only 1.3 percent of the world’s reserves. Nonetheless, it is expected to build an additional 23 gigawatts of gas-fired electric generating capacity by 2030, almost doubling its gas-fired capacity, according to the EIA.[xxxii] To fuel these generators, China will need to continue its dependence on natural gas imports, which will provide one-third of its total natural gas consumption by 2030. China opened its first LNG regasification facility in 2006 at Guangdong, and 2 others are planned to open this year. The first imports of natural gas into China by pipeline are expected in 2011, via a new pipeline running from Turkmenistan through Kazakhstan.[xxxiii]

    Conclusion

    China is on a fast track to bring online new generating units using coal, nuclear, solar, and wind power, which will allow its economy to continue to grow. However, because China is endowed with a sizable amount of coal resources and because coal is still the cheapest energy source in China, coal-fired generating additions will far outpace those of other technologies. “No matter how much renewable or nuclear is in the mix, coal will remain the dominant power source,” said Ashok Bhargava, a China energy expert at the Asian Development Bank in Manila.[xxxiv] By continuing to rely heavily on currently available coal technology, China will remain the number one emitter of carbon dioxide, almost doubling its carbon dioxide emissions by 2030, according to EIA’s forecast.[xxxv]

    The U.S., on the other hand, has made it difficult to build generating plants in this country. Prospects of cap-and-trade legislation and reviews and re-reviews by the Environmental Protection Agency have slowed the construction of new coal-fired plants. NRC requirements, financing difficulties, and slow fulfillment of the nuclear provisions of the Energy Policy Act of 2005 have slowed the construction of new nuclear power reactors. Even renewable energy projects have been halted by “not in my back yard” (NIMBY) protesters. They have blocked energy projects by organizing local opposition, changing zoning laws, opposing permits, filing lawsuits, and bleeding projects dry of their financing.[xxxvi] Without reasonably priced energy, it will be difficult to achieve high levels of economic growth, and U.S. industry will just move offshore where energy is more affordable.

     

     


    [i] Energy Information Administration, International Energy Outlook 2009, http://www.eia.doe.gov/oiaf/ieo/index.html

    [ii] USA Today, “China Pushes Solar, Wind Power Development”, http://www.usatoday.com/money/industries/energy/environment/2009-11-17-chinasolar17_CV_N.htm

    [iii] Energy Information Administration, International Energy Annual 2006, http://www.eia.doe.gov/emeu/cabs/China/Background.html

    [iv] Recoverable reserves are those quantities of coal which geological and engineering information indicates with reasonable certainty can be extracted in the future under existing economic and operating conditions.

    [v] Energy information Administration, International Energy Outlook 2009, Table 9, http://www.eia.doe.gov/oiaf/ieo/index.html

    [vi] Ibid, Tables H10 and H13

    [vii] Ibid

    [viii] Ibid, Table H4

    [ix] http://windfarms.wordpress.com/2009/01/29/china-building-500-coal-plants/

    [x] The New York Times, “Pollution From Chinese Coal Casts a Global Shadow”, http://www.nytimes.com/2006/06/11/business/worldbusiness/11chinacoal.html?_r=1

    [xi] The Wall Street Journal, “China’s Wind Farms Come with a Catch: Coal Plants”, September 28, 2009, http://online.wsj.com/article/SB125409730711245037.html

    [xii] USA Today, “China Pushes Solar, Wind Power Development”, http://www.usatoday.com/money/industries/energy/environment/2009-11-17-chinasolar17_CV_N.htm

    [xiii] The Wall Street Journal, “Wind Power: China’s Massive and Cheap Bet on Wind Farms”, July 6, 2009, http://blogs.wsj.com/environmentalcapital/2009/07/06/wind-power-chinas-massive-and-cheap-bet-on-wind-farms/

    [xiv] Energy information Administration, Assumptions to the Annual Energy Outlook 2009, Table 8.2, Electricity Market Module, http://www.eia.doe.gov/oiaf/aeo/assumption/index.html

    [xv] www.reuters.com/article/pressRelease/idUS200008+29-Oct-2009+BW20091029

    [xvi] Dallas News, “Wind turbine jobs blow in China’s direction”, November 19, 2009, http://www.dallasnews.com/sharedcontent/dws/bus/columnists/jlanders/stories/DN-landers_17bus.1.ART0.State.Edition1.3f095e8.html

    [xvii] “Overseas firms collecting most green energy money”, October 29, 2009, http://investigativereportingworkshop.org/investigations/wind-energy-funds-going-overseas/

    [xviii] “Vietnam’s first turbine component plant underway”, May 13, 2009, http://www.vietnewsonline.vn/News/Business/Companies-Finance/6072/Vietnams-first-turbine-component-plant-underway.htm

    [xix] http://www.guardian.co.uk/world/2009/may/26/china-invests-solar-power-renewable-energy-environment

    [xx] http://en.wikipedia.org/wiki/Solar_power_in_China

    [xxi] USA Today, “China Pushes Solar, Wind Power Development”, http://www.usatoday.com/money/industries/energy/environment/2009-11-17-chinasolar17_CV_N.htm

    [xxii] Business Week, “China Solar Panel Maker Sets First U.S. Plant”, November 15, 2009, http://www.businessweek.com/technology/content/nov2009/tc20091115_970512.htm

    [xxiii] USA Today, “China Pushes Solar, Wind Power Development”, http://www.usatoday.com/money/industries/energy/environment/2009-11-17-chinasolar17_CV_N.htm

    [xxiv] The Boston Globe, “Evergreen Shifts Work to China”, November 5, 2009, http://www.boston.com/business/articles/2009/11/05/evergreen_shifts_work_to_china

    [xxv] Energy Information Administration, Electric Power Monthly, March 2009, Table 5.6B, http://tonto.eia.doe.gov/ftproot/electricity/epm/02260903.pdf

    [xxvi] Energy information Administration, Electric Power Monthly, November 2009, Table 5.6B, http://www.eia.doe.gov/cneaf/electricity/epm/epm_sum.html

    [xxvii] Washington Post, “Solar Energy Firms Leave Waste Behind in China”, March 8, 2008, http://www.washingtonpost.com/wp-dyn/content/article/2008/03/08/AR2008030802595_2.html

    [xxviii] “Nuclear Power in China”, World Nuclear Association, November 6, 2009, www.world-nuclear.org/info/inf63.html

    [xxix] Westinghouse News Releases, “Westinghouse and the Shaw Group Celebrate First Concrete Pour at Haiyang Nuclear Site in China”, September 29, 2009, http://westinghousenuclear.mediaroom.com/index.php?s=43&item=200

    [xxx] “Westinghouse Statement Regarding NRC News Release on AP1000 Shield Building”, http://westinghousenuclear.mediaroom.com/index.php?s=43&item=203

    [xxxi] “Nuclear Power in China”, World Nuclear Association, November 6, 2009, www.world-nuclear.org/info/inf63.html

    [xxxii] Energy Information Administration, International Energy Outlook 2009, Tables 6 and H3, http://www.eia.doe.gov/oiaf/ieo/index.html

    [xxxiii] Ibid, Chapter 3, Natural Gas

    [xxxiv] The New York Times, “China Far Outpaces U.S. in Cleaner Coal-Fired Plants”, http://www.nytimes.com/2009/05/11/world/asia/11coal.html

    [xxxv] Energy Information Administration, International Energy Outlook 2009, Tables A10, http://www.eia.doe.gov/oiaf/ieo/index.html

    [xxxvi] For a repository of stalled and stopped energy projects, see U.S. Chamber of Commerce, “Project No Project Energy-Back On Track”, http://pnp.uschamber.com/