Kemper.Ariel

Kemper Coal & Natural Gas Facility, photo courtesy Mississippi Power Co.

The Kemper coal and natural gas facility is a 582 MW electric power plant that was supposed to cost $2.2 Billion and open in May, 2014. It hasn’t opened yet, and is now projected to cost $6.6 Billion, triple the original budget. According to Power Maghere,

The most recent filing pushes the bill to $6.66 billion. The plant was originally estimated to cost $2.2 billion in 2004, but costs began spiraling out of control almost immediately, especially once construction began in 2010 and the company discovered that many of the original designs needed major changes. Those problems appear to be continuing, as Mississippi Power said the April 1 update is “related to operational readiness and challenges in start-up and commissioning activities which includes the cost of repairs and modification to the refractory lining inside the gasifiers.”

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Image of Louis Marquez carries his dog, Dallas, through floodwaters after rescuing the dog from his flooded apartment Tuesday in Houston. A FedEx van is in water up to middle of the headlights (AP Photo/David J. Phillip)

Louis Marquez carries his dog, Dallas, through floodwaters after rescuing the dog from his flooded apartment Tuesday in Houston. (AP Photo/David J. Phillip)

In the spring of this year, the news media reported floods in Texas, Oklahoma, Mexico, France, Germany, Russia, Ukraine, Australia and elsewhere.

  • 9 US soldiers were lost in floods around Fort Hood in Texas.
  • Other Americans have died in the flooding in Oklahoma.
  • The Louve and Orsay museums in Paris are closed and moving priceless art to higher ground to protect it from the floods.

What’s going on?

Elementary chemistry. [click to continue…]

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On Dec. 21, 2012, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $8.0 in the Sustainable Energy space and $8.0 in the fossil fuel space. Excluding the value of dividends and transaction costs, but including the bankruptcy or crash of three companies in the sustainable energy space, and Peabody Coal.

As of the close of trading on May 20, 2016:

  • The Fossil Fuel portfolio went from $8.0 Million to $5.53 Million, down 30.8% overall, down 8.9% on an annualized basis.
  • The Sustainable Energy portfolio went from $8 Million to $17.778 Million, up 122.22%, overall and 35.774% on an annualized basis.
  • The Dow Jones Industrial Average is up 33.69% overall and 9.86% on an annualized basis, went from 13.091 on 12/21/12 to 17,501 on 5/21/16.
  • The S&P 500 is up 43.52% overall and 12.74% on an annualized basis, from 1,430 on 12/21/12 to close at 2051 on 1/21/16.

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ft_mcmurray.1

Fort McMurray, Alberta Canada. The tar sands boom is going down in flames; going up in smoke. The fire, which started May 1, 2016, has burned 156,000 hectares, which is 15.6 million acres, 602 square miles or 1,560 square kilometers.

As is evident in the image the flames are taller than the trees.  [click to continue…]

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PL_Port.40On Dec. 21, 2012, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $8.0 in the Sustainable Energy space and $8.0 in the fossil fuel space. Excluding the value of dividends and transaction costs, but including the bankruptcy or crash of three companies in the sustainable energy space, and one company in the fossil fuel space.

The big news this month is the bankruptcy filing of Peabody Coal (Bloomberg, here). [click to continue…]

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PLPort.1603

On Dec. 21, 2012, drying off from Sandy, after the lights came back on, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $1.0 Million in each of eight companies in the Sustainable Energy space and another $1.0 in each of eight companies in the fossil fuel space. Excluding the value of dividends and transaction costs, but including the bankruptcy or crash of three companies in the sustainable energy space,

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PLPort.1602

On Dec. 21, 2012, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $8.0 in the Sustainable Energy space and $8.0 in the fossil fuel space. Excluding the value of dividends and transaction costs, but including the bankruptcy or crash of three companies in the sustainable energy space …

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Oil_ProfitsDeepwater Drilling Offshore of the US yields oil at $57 per barrel (see note 1) and, according to Forbes, the Break-Even price is $65 per barrel. It makes no sense to drill deepwater wells offshore of the US with WTI crude oil under $35 per barrel And given that the costs to produce a barrel of oil in the Middle East, range from $8.50 in Kuwait to $9.90 in Saudi Arabia, to $12.60 in Iran WE CAN’T COMPETE!

But we shouldn’t bother. We should move to a post fossil fuel economy.

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BEIJING, CHINA - JANUARY 23: A tourist and her daughter wearing the masks visit the Tiananmen Square at dangerous levels of air pollution on January 23, 2013 in Beijing, China. The air quality in Beijing on Wednesday hit serious levels again, as smog blanketed the city. (Photo by Feng Li/Getty Images)

BEIJING, CHINA – Tiananmen Square, January 23, 2013 (Photo by Feng Li/Getty Images)

Forbes, here, and reports that China is building a  200 MW solar farm in the Gobi Desert (Clean Technica, here, IFL Science, here.

However, Chinese authorities plan for carbon emissions to peak in 2030 – that is to keep increasing until 2030.  Bellona, here, reported that Chinese authorities plan to increase renewables to 20% by 2030. This will include 200 GW of Wind, 100 GW of Solar. The plan is also to increase burning of Natural Gas to 10% of their electricity capacity, and to focus on coal with carbon capture. (Apparently the Chinese authorities don’t seem to realize how much carbon sequestration really costs. It is, as they say in New England, “wicked expensive.”)

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PLPort.1601Wall St. 1/21/16. On Dec. 21, 2012, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $8.0 in the Sustainable Energy space and $8.0 in the fossil fuel space.

Today it is worth an imaginary $23.48 Million because while the Fossil Fuel portfolio dropped 42.8% of it’s total value, the Sustainable Energy portfolio increased 135.6%.

This excludes the value of dividends and transaction costs, but includes the bankruptcy or crash of three companies in the sustainable energy space.

This month’s post was delayed due to preparations for and digging out from Blizzard Jonas.

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Industrialization in China: Side Effects can Kill

by L J Furman, MBA January 4, 2016

副作用可以杀死 Fùzuòyòng kěyǐ shā sǐ Side Effects Can Kill China, since 1947, has become an economic powerhouse. But back in 2007, National Geographic reported, here, on a World Health Organization, WHO, report,  that 656,000 people died in China in 2006 from air pollution. National Geographic also reported that polluted drinking water killed at the rate of 95,000 […]

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Energy Portfolios, 3 Years: Sustainable Energy Up 166.6%, Fossil Fuel DOWN 36.23%

by L J Furman, MBA December 22, 2015

On Dec. 21, 2012, I put $16 Million imaginary dollars in equal imaginary investments in 16 real energy companies; $8.0 in the Sustainable Energy space and $8.0 in the fossil fuel space. Excluding the value of dividends and transaction costs, but including the bankruptcy or crash of three companies in the sustainable energy space. As […]

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The Art of Gerrymandering – Part III

by Garry R. Osgood December 15, 2015

In our last post, we wrote about how to compute the Gerrymander Index of shapes, including Congressional districts. Since then we’ve fetched the U. S. Census Bureau tl_2014_us_cd114 Esri shapefile data set of the 435 Congressional Districts for the current 114th Congress, which includes the nine non-voting districts that send delegates to Congress. If you […]

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COP 21 – the Future Began Yesterday

by L J Furman, MBA December 13, 2015

COP 21 is, perhaps, the most important international effort in history. It concluded with an agreement by 196 nations to limit CO2 emissions to hold global temperature rise to 1.5 degrees Centigrade or 3.3 degrees Fahrenheit (NPR). The only way to do this is to phase out fossil fuels, quickly, and replace them with efficient use […]

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12,209 Americans Killed by Americans with Guns in 2015

by L J Furman, MBA December 2, 2015

  December 2, 2015, 19 Americans were killed and 21 wounded in four incidents, one dead, three wounded in Georgia (Atlanta Journal Constitution), two dead in Texas in two incidents (ABC News) and 14 killed and 17 wounded in San Bernardino, California (NPR). In addition, two of the alleged shooters in California were killed and a police officer […]

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