Uncategorized

Coal is being cleaned out of Australia & sent to China

Instead of man’s shovel loads  it is huge buckets of coal loaded to trains n transported on large barges to Mainland China.  Meanwhile

Quote:  

Solar Jobs Join Harry Reid to Chinese Billionaire in Price Drop

Apr 3, 2012

A Chinese billionaire is teaming up with the most powerful man in the U.S. Senate to build a solar plant in a dusty corner of Nevada, even as officials accuse China of driving energy companies out of business by dumping cheap components on the American market. 
ENN Group (ENNGZ) plans a manufacturing and generating facility worth $5 billion, more than all Chinese investment in the U.S. combined last year, in Laughlin, Nevada, a town pockmarked with foreclosed properties and the skeleton of a 14-story resort abandoned when the project went bankrupt. 
Company founder Wang Yusuo, one of China’s richest men, has joined with Senate Majority Leader Harry Reid to win incentives including land 113 miles (182 kilometers) southeast of Las Vegas that ENN is buying for $4.5 million, or less than one-eighth of the $38.6 million assessors say it is worth. The project has produced legal work for Reid’s son, Rory, a lawyer at a Las Vegas firm that gave the Nevada Democrat more than $40,000 in the past three election cycles. 
“This is counter to most logic,” said Thomas Maslin, an analyst at IHS Emerging Energy Research in Washington, D.C. “It doesn’t make sense in terms of supply and demand. The likely rationale is that because they’re building on public land they need to justify somehow the price through job creation and high- tech manufacturing.” 
Growing Clout 

ENN’s project highlights the growing clout of Chinese capital in this country. Chinese investment in the U.S. jumped to 66 deals worth $4.5 billion in 2011, up from just 11 deals worth $146 million in 2003, according to the Rhodium Group, a New York-based firm that researches trade with China. While it is rising quickly, that total is still far lower than countries such as Switzerland, whose $42 billion infusion makes it the top foreign investor, according to a July report from the U.S. Commerce Department. 
Solar panel prices have plunged almost 50 percent globally in the past 15 months, leading to the bankruptcy of equipment maker Solyndra LLC, with $535 million in U.S. government loan guarantees, and job cuts at other solar manufacturers. The Obama administration, under pressure to curb Chinese companies’ trade practices, imposed preliminary duties on March 20 of as much as 4.73 percent on solar equipment imported from China. Tariffs may prompt more Chinese companies to move their manufacturing facilities to the U.S., Maslin said. 
ENN’s Nevada plan calls for solar panel manufacturing and generation facilities and an eco-community people can visit — part of what Reid proposes as an alternative-energy hub in a March 12 report called “Playing to Win in Clean Energy.” 
Energy for California 

Reid, 72, a Nevada Democrat who has led the U.S. Senate since 2007, promotes the project planned by ENN, based in Langfang, Hebei Province, as a way to put thousands of people back to work as his state struggles to overcome one of the nation’s highest foreclosure rates.
“It will generate the electricity California must have in just a few years — 30 percent of all electricity must come from renewable resources,” Reid said during a March 12 conference call with reporters. “This project is close to California. It’s within walking distance.” 

http://www.bloomberg.com/news/2012-0…rice-drop.html

__________________
III  Image
 
 

 

An excuse to dump more fruit n Vegetables here in our Woolworths Supermarket
We well need our own growers market.. urgently. Our water is ruined to drink
and too high in iron & magnesia even for many vegetables n herbs.


Advertisements
Standard

2 thoughts on “Coal is being cleaned out of Australia & sent to China

  1. Company founder Wang Yusuo, one of China’s richest men, has joined with Senate Majority Leader Harry Reid to win incentives including land 113 miles (182 kilometers) southeast of Las Vegas that ENN is buying for $4.5 million, or less than one-eighth of the $38.6 million assessors say it is worth. The project has produced legal work for Reid’s son, Rory, a lawyer at a Las Vegas firm that gave the Nevada Democrat more than $40,000 in the past three election cycles.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s