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Sunday, 29 July 2012

Yemen’s multiple proxy wars a recipe for a famine

Posted on 00:12 by Unknown
Crikey has a look at the famine in Yemen, exacerbated by high prices for diesel - Yemen’s multiple proxy wars a recipe for a famine.
For decades throughout the 20th century, the idea of famine had two dominant uses in the West.

The first was proof of the Christian ideal that “the poor you will always have with you”, thus re-affirming the eternal need for charity, and the limited usefulness of political struggle — the second was to reaffirm a vaguely or explicitly racialist and Malthusian notion that the dusky-skinned two thirds of the world really couldn’t manage themselves that well, and were doomed to over-breeding and starvation. Before the Second World War, China was the locus for this concern/panic — in various famines until the 1949 revolution, children would be exchanged between families to be eaten, or sold in the marketplace.

After the war, attention switched to India, and then in the 1970s and ’80s, to Ethiopia and the rest of Africa. The story was static, and endlessly repeated — skeletal children, milk powder, guilt, appeals, etc. The global extravaganza of Live Aid in 1985 was probably the acme of this well-meant but bone-headed view of starvation — appropriately enough celebrated by a song in which a phalanx of stars wondered if animist and Muslim peoples even knew it was Christmas time at all.

But by this time another view of famine was beginning to permeate the liberal West, with the 1981 publication of Amartya Sen’s Poverty and Famines, which deployed an array of theories to argue that famines almost always occurred in regions where there was plenty of food — and that even when there was a will to alleviate the famine, the absence of democratic and open political structures made such alleviation impossible.

Sen’s example was the Bengal Famine of 1943 — something that Commonwealth readers rarely hear of in tales of WW2, because 3 million Indians died due to the incompetence, indecision and outright racism of the British authorities. Sen’s argument made an impact where more radical left-wing accounts of the political nature of famine had been dismissed — but many were still unwilling to concede one of his core points, that one of the great barriers to alleviating famine was the market itself.

Sen’s argument has made it impossible for Western news to report famine in the way it once did, but it’s a close run thing. Fragments of reasons a region might suddenly descend into desperate starvation are aired, but there remains a basic inability to tell a connected story. The default position remains the Pieta, the starving child in arms.

Which brings us to the Yemen famine, which has suddenly hit the headlines, after bubbling in the background of the news for months. Ten million people — nearly half of the country’s population — are at risk of starvation, yet the food shortage is not affecting whole regions or areas equally. The burden is falling overwhelmingly on the poor, with people starving while nearby markets are full.

Though there’s been a persistent food shortage since the global food price rise in 2008 — and in fact food has always been short for the poor in the country — the situation has been made urgent by several coincident factors. A drought has persisted for more than three years, and is at its worst this summer, leading to a lack of work for millions of rural labourers. It’s also Ramadan, which, perversely, as a month of daylight fasting, raises food prices — since the fasting is followed by night-time feasting.

Added to these woes, Yemen is starving because it has become a site for multiple proxy wars — the Shia-based Sadah uprising from the north-west, a South Yemen uprising (based around the territory of the old Soviet-era Marxist state), and the Arab Spring general insurgency against the 30-plus-year reign of President Salleh, and last but not least a proxy war between al-Qaeda and US drone attacks.

The result is a country in which substantial networks not merely of trade, but also of inter-family support and charity have broken down, making the usual transfer between rich and poor all the more difficult, such as it occurs. To be fair, it has also been pointed out that the production of the intoxicant herb “khat” dominates agricultural production without providing any nourishment (though it also acts as an appetite suppressant), to the detriment of food production and household budgets.

But above all and beyond all this is the way in which Yemen is trapped in a global commodity system, with steadily rising prices for basic staple foods (of which Yemen imports 90%), and for diesel oil, which is used to pump water. At this point, with diesel oil unaffordable, many families are reliant on charity for a continued supply of water.

This crippling gap has led Oxfam to approach the problem in a simple way — they’re simply giving money to the poor, so that they can shop at market, and also acquire diesel. But the inevitable result of that will be a further bump in prices as the money swims into the system without expanded production, and the cycle begins again.

The Yemen famine then, is something we will begin to see more and more — a situation in which a poor and precarious country has its price signals swamped by global demand and remorselessly rising prices. With several decades of rising crop yields and low oil prices, now curtailed, it will be the nations who have not managed to get on the development ladder — or the poor parts of those who have — that will pay for the prosperity being enjoyed by a booming global urban and industrial class. In that case, the price signal becomes not a carrier of information, but a barrier to it, a la Sen — it tells us nothing about what is really required to be done, within any ethical system worthy of the name.

That story won’t be told in even the most searching reports on this famine, or the next, in the next place. We have come a long way from famine as an act of God, but we are not yet ready to recognise it as a product of global markets, or our role within it.

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Posted in agriculture, food prices, oil price | No comments

Wednesday, 25 July 2012

Maugeri on peak oil

Posted on 05:24 by Unknown
James Hamilton at Econbrowser has a look at Leonardo Maugeri's paper on peak oil - Maugeri on peak oil
Carpe Diem, Reuters, FTalphaville, and WhaleOil are among those calling attention to a new paper by Leonardo Maugeri, senior manager for the Italian oil company Eni, and Senior Fellow at Harvard University, which concluded:
Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption. This could lead to a glut of overproduction and a steep dip in oil prices.

Based on original, bottom-up, field-by-field analysis of most oil exploration and development projects in the world, this paper suggests that an unrestricted, additional production (the level of production targeted by each single project, according to its schedule, unadjusted for risk) of more than 49 million barrels per day of oil (crude oil and natural gas liquids, or NGLs) is targeted for 2020, the equivalent of more than half the current world production capacity of 93 mbd. [After factoring in risk factors and depletion rates of currently producing oilfields], the net additional production capacity by 2020 could be 17.6 mbd, yielding a world oil production capacity of 110.6 mbd by that date.

Here I take a look at some of the details of Maugeri's analysis.

About half of Maugeri's calculated 17.6 mb/d in net additional production capacity comes from two countries-- the United States and Iraq (see his Table 2). I have earlier discussed the situation for the United States. To briefly recap, more than half of the increase in total U.S. oil production since 2005 has come from biofuels and natural gas liquids, neither of which should be added to conventional crude production for purposes of calculating the available supply. Another important contribution to recent U.S. production gains has come from shale/tight oil. I agree with Maugeri that this will be an important factor in the future, but it is not cheap, and there are some big uncertainties in extrapolating recent gains, about which I will have more to say below.

But first let's take a look at Iraq, which by itself accounts for 5.1 mb/d, or 29% of the net combined global gains that Maugeri is anticipating. His starting point for these calculations (see his Table 1) is the "production target" associated with a dozen oil fields for which the Iraqi government has signed contracts with oil companies. These targets call for these fields to reach maximum levels of production which, when added together, come to 11.6 mb/d. To win a contract, oil companies had to specify two key parameters: a "target" level of production and a remuneration per barrel, with awards going to the companies that specified the highest target and lowest remuneration. Some have characterized the announced targets simply as propaganda. Once awarded, there seems to be a separate process in which the production targets get renegotiated. Maugeri acknowledges the logistic and security challenges in meeting the targets, and accordingly cuts the official estimates in half. Doing so would still be a stunning achievement, requiring an Iraq that would be substantially more stable and successful over the next decade than it has been over the last three.

A separate issue is that new production from places like the U.S. and Iraq are needed in part to replace declining production flows coming from mature fields. A key question in any study like this is the assumed magnitude of that decline. As Stephen Sorrell notes, Maugeri does not state his assumed rate, and confuses the issue by mixing discussions of the depletion of an existing reservoir (for which purposes Maugeri is correct to raise the offsetting factor of additions to reserves) with the declining production flow rate from a given field (the relevant number for purposes of calculating the net addition that new fields bring to annual production). Sorrell suggests we can infer the implicit assumed decline rate from Maugeri's Table 2, which reports a difference between his adjusted gross additions and adjusted net additions of 11 mb/d. That seems to imply that Maugeri is assuming that the total decline in production from existing fields between now and 2020 will be 11 mb/d, which I calculate to correspond to a 1.4% annual decline rate (ln(82/93)/9 = -0.014). As Sorrell notes, this compares for example with the IEA's (2008) substantially less optimistic numbers:

Based on data for 580 of the world's largest fields that have passed their production peak, the observed decline rate-- averaged across all fields and weighted by their production over their whole lives-- is 5.1%. Decline rates are lowest for the biggest fields: they average 3.4% for super-giant fields, 6.5% for giant fields and 10.4% for large fields. The average rate of observed post-plateau decline, based on our data sub-set of 479 fields, is 5.8%.
... I agree with Maugeri that new production from places like the United States and Iraq is going to be very helpful. But I think he substantially overstates the case for optimism. If we are counting on sources such as shale/tight oil, oil sands, and deepwater to replace production lost from mature conventional oil fields, the days of cheap oil are never going to return.
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Posted in leonardo maugeri, peak oil | No comments

Australian ocean energy could power Melbourne by 2050: CSIRO study

Posted on 05:12 by Unknown
ReNew Economy points to a new study from the CSIRO on ocean power potential in Australia - Australian ocean energy could power Melbourne by 2050: study.
Did you know that wave energy has the potential to supply about 11 per cent of Australia’s electricity – the equivalent to powering a city the size of Melbourne – by 2050?

If the results of yesterday’s Climate Institute’s “Climate of the Nation 2012″ report are anything to go by, you probably didn’t. Because while that study found overwhelming support among Australians for the development of renewables, most of this was directed towards solar, wind and hydro, with only 25 per cent of respondents nominating wave energy as their most preferred option (although this number still beat out nuclear and coal).

The fact is, not nearly enough is known about ocean renewable energy in Australia – a situation the CSIRO hopes to redress with its new report, “Ocean renewable energy: 2015-2050.” The report, released today – and from which the above fact was gleaned – is the result of the CSIRO’s efforts to understand the potential of this clean energy source, and to inform the ocean energy industry, government and investors about the challenges and potential for the technology.

“Given the potential of ocean energy and the fact that it’s a very new technology, CSIRO wanted to understand what is the sustainable level at which this resource could be used for energy supply and whether it could be competitive with other energy technologies,” said Ian Cresswell, acting director of the CSIRO Wealth from Oceans Flagship. “Assessing the opportunities and challenges from resource to the market is a first for ocean renewable energy in Australia.”

The study was carried out by the Wealth from Oceans and Energy Transformed Flagships and included an analysis of the resource, cost to market, technologies and future take-up projections by oceanographers, engineers, economists. It also engaged the ocean energy industry and related sectors.

As the report – which can now be viewed online – points out, wave energy converters are still an emerging technology. CSIRO’s research uncovered at least 200 devices around the world in various stages of testing and demonstration, but found that relatively few had publicly available data on deployments at sea in full operational mode. ...

Nonetheless, the study identified 16 Australian companies that are either actively developing ORE projects, have received significant government and/or private funding, or have announced ORE plans; and it pointed to some home-grown technologies being offered to the market – the most advanced being the CETO submerged buoy system, and the OceanLinx oscillating water column system.

The largest ORE project in Australia (recipient of a $66 million grant from the federal government) was identified as the construction of a wave farm off the coast of Victoria by Ocean Power Technologies Australasia (OPTA), a company with a US-based parent.

As for Australia’s ocean energy potential, the report found that Australia has an abundant wave energy resource and could produce 24-hour power, either from the tides, currents or waves. The nation’s best resource was found to be concentrated along the southern coastline, as well as a consistent, yet smaller, contribution on the east coast – although the report said characterisation of this resource area required further attention.

The areas the report says could benefit most from wave energy technology include Perth, the southern coastline, and (less-so) the east coast of Australia (see chart below). It also found that tidal technology could supply niche areas such as north east Tasmania and WA’s Kimberley region and ocean thermal energy off the coast of far north Queensland.

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Posted in australia, csiro, ocean energy, tidal power, wave power | No comments

A soaring food price fear

Posted on 04:59 by Unknown
The Business Spectator has an article wondering if the drought in the US will cause another spike in food prices and social unrest - A soaring food price fear.
Markets are bracing for a surge in global political unrest, as the worst US drought in half a century sent corn and soybean prices soaring to record highs overnight.

The combination of scorching temperatures and a lack of rain has now pushed corn and soybean prices above the peaks they reached during the 2007-08 food crisis. Overnight, the corn futures price climbed above $US8 a bushel for the first time, while that of soybeans hit a record $US17.12 a bushel.

Although the wheat price has not yet hit record highs, it has jumped more than 50 per cent in the past five weeks, and is now above the level it hit after Russia’s crop failure in 2010, which prompted Moscow to impose a ban on grain exports.

Grain traders have been anxiously monitoring the effect of the drought, which is the worst since 1956 in terms of the areas affected. In its weekly crop report, the US government said that only 31 per cent of the corn crop was in “good to excellent condition”, a sharp drop from its estimate of 40 per cent last week. For soybeans, the estimate dropped to 34 per cent from 40 per cent.

But the devastating US drought will have massive global effects. The United States is the world’s largest exporter of corn, soybeans and wheat – supplying around one-third of these staple grains traded on the global market.

Already, some analysts are warning that the world could be in for a period of intense social and political instability similar to that seen in 2007-08 when soaring food prices sparked riots in dozens of countries. They note that last year’s political instability in the Arab world was partly caused by surging grain prices.

The effect of rising grain prices is most pronounced in poor countries, where people can spend up to three-quarters of their income on food. Because food is such an important part of consumer spending, surging food prices are quickly reflected in a jump in official inflation figures.

Rolling Stone has an article by Bill McKibben on the state of play in global warming analysis - Global Warming's Terrifying New Math.
If the pictures of those towering wildfires in Colorado haven't convinced you, or the size of your AC bill this summer, here are some hard numbers about climate change: June broke or tied 3,215 high-temperature records across the United States. That followed the warmest May on record for the Northern Hemisphere – the 327th consecutive month in which the temperature of the entire globe exceeded the 20th-century average, the odds of which occurring by simple chance were 3.7 x 10-99, a number considerably larger than the number of stars in the universe.

Meteorologists reported that this spring was the warmest ever recorded for our nation – in fact, it crushed the old record by so much that it represented the "largest temperature departure from average of any season on record." The same week, Saudi authorities reported that it had rained in Mecca despite a temperature of 109 degrees, the hottest downpour in the planet's history.

Not that our leaders seemed to notice. Last month the world's nations, meeting in Rio for the 20th-anniversary reprise of a massive 1992 environmental summit, accomplished nothing. Unlike George H.W. Bush, who flew in for the first conclave, Barack Obama didn't even attend. It was "a ghost of the glad, confident meeting 20 years ago," the British journalist George Monbiot wrote; no one paid it much attention, footsteps echoing through the halls "once thronged by multitudes." Since I wrote one of the first books for a general audience about global warming way back in 1989, and since I've spent the intervening decades working ineffectively to slow that warming, I can say with some confidence that we're losing the fight, badly and quickly – losing it because, most of all, we remain in denial about the peril that human civilization is in.

When we think about global warming at all, the arguments tend to be ideological, theological and economic. But to grasp the seriousness of our predicament, you just need to do a little math. For the past year, an easy and powerful bit of arithmetical analysis first published by financial analysts in the U.K. has been making the rounds of environmental conferences and journals, but it hasn't yet broken through to the larger public. This analysis upends most of the conventional political thinking about climate change. And it allows us to understand our precarious – our almost-but-not-quite-finally hopeless – position with three simple numbers.

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Posted in drought, food prices, global warming | No comments

Maine company leading way as tidal energy comes of age

Posted on 04:52 by Unknown
The Portland Press Herald has an article on the first commercial tidal power generation in North America, in the Bay Of Fundy - Maine company leading way as tidal energy comes of age.
The tide is running out of Passamaquoddy and Cobscook bays, transforming the miles-wide ocean passages around Eastport into fast-running rivers.

To the east of this easternmost American port, the Western Hemisphere's largest whirlpool is surging to life, creating a vortex capable of sucking a small skiff into the abyss. Here on the west side of town, the sea is fleeing Cobscook and, unwittingly, generating electricity for the Ocean Renewable Power Co.

Slung beneath a specially built barge moored near the bay's mouth, a sailboat-sized turbine spins in the 4-knot current, generating a clean, renewable and predictable flow of electricity. It's a 50-kilowatt prototype that ORPC is developing for use in rivers, a small cousin to the 60-kilowatt device it tested here last year.

On Tuesday, however, the company will unveil its first full-scale commercial unit at a ceremony here: a cylindrical module as big as a Grand Banks fishing schooner with long curved turbine foils. Sometime next month, it will carefully attach the module to a mount already awaiting it on the Cobscook sea floor a mile farther up the bay from here. The company will attach cables linking it to new transmission lines on the Lubec shore and, with the push of a button, the 180-kilowatt turbine will begin selling power to the grid, the first of a new class of damless tidal energy devices to do so anywhere in North America.

Tidal power, long in development, is finally coming of age, with a Maine company leading the way.

"What ORPC is doing in Cobscook Bay is really a very important milestone," said Paul Jacobson, an ocean energy expert at the Palo Alto, Calif.-based Electrical Power Research Institute. "With this project, these tidal power devices have finally crossed the threshold into commercial development."

There's much more to come. ORPC plans to add two more turbines to its Cobscook site in the coming year, and as many as 18 in the faster, harsher waters of Passamaquoddy Bay on the other side of Eastport by 2016.

"Maine is where it all started and where the lessons are being learned," said ORPC's president and co-founder, Chris Sauer, who calls Eastport the "Kitty Hawk" of his nascent industry. "Maine will become the intellectual center for tidal energy, with the people and knowledge base for how to do this."

The Eastport area has Maine's highest tides -- 20 feet -- because it is perched at the mouth of the vast Bay of Fundy, home to the greatest tides on the planet. It's the ultimate tidal resource, and ORPC and its foreign rivals are competing to harness its energy.

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Posted in bay of fundy, maine, ocean energy, tidal power | No comments

Lockdown: The coming war on general-purpose computing

Posted on 03:57 by Unknown
Cory Doctorow has an article outlining why he thinks a range of industries will be lobbying hard to make general purpose computers available to the masses - Lockdown: The coming war on general-purpose computing.
Why might other sectors come to nurse grudges against computers in the way the entertainment business already has? The world we live in today is made of computers. We don't have cars anymore; we have computers we ride in. We don't have airplanes anymore; we have flying Solaris boxes attached to bucketfuls of industrial control systems. A 3D printer is not a device, it's a peripheral, and it only works connected to a computer. A radio is no longer a crystal: it's a general-purpose computer, running software. The grievances that arise from unauthorized copies of Snooki's Confessions of a Guidette are trivial when compared to the calls-to-action that our computer-embroidered reality will soon create.

Consider radio. Radio regulation until today was based on the idea that the properties of a radio are fixed at the time of manufacture, and can't be easily altered. You can't just flip a switch on your baby monitor and interfere with other signals. But powerful software-defined radios (SDRs) can change from baby monitor to emergency services dispatcher or air traffic controller, just by loading and executing different software. This is why the Federal Communications Commission (FCC) considered what would happen when we put SDRs in the field, and asked for comment on whether it should mandate that all software-defined radios should be embedded in “trusted computing" machines. Ultimately, the question is whether every PC should be locked, so that their programs could be strictly regulated by central authorities.

Even this is a shadow of what is to come. After all, this was the year in which we saw the debut of open source shape files for converting AR-15 rifles to full-automatic. This was the year of crowd-funded open-sourced hardware for genetic sequencing. And while 3D printing will give rise to plenty of trivial complaints, there will be judges in the American South and mullahs in Iran who will lose their minds over people in their jurisdictions printing out sex toys. The trajectory of 3D printing will raise real grievances, from solid-state meth labs to ceramic knives.

It doesn't take a science fiction writer to understand why regulators might be nervous about the user-modifiable firmware on self-driving cars, or limiting interoperability for aviation controllers, or the kind of thing you could do with bio-scale assemblers and sequencers. Imagine what will happen the day that Monsanto determines that it's really important to make sure that computers can't execute programs which cause specialized peripherals to output custom organisms which literally eat their lunch.

Regardless of whether you think these are real problems or hysterical fears, they are, nevertheless, the political currency of lobbies and interest groups far more influential than Hollywood and big content. Every one of them will arrive at the same place: “Can't you just make us a general-purpose computer that runs all the programs, except the ones that scare and anger us? Can't you just make us an Internet that transmits any message over any protocol between any two points, unless it upsets us?"

There will be programs that run on general-purpose computers, and peripherals, that will freak even me out. So I can believe that people who advocate for limiting general-purpose computers will find a receptive audience. But just as we saw with the copyright wars, banning certain instructions, protocols or messages will be wholly ineffective as a means of prevention and remedy. As we saw in the copyright wars, all attempts at controlling PCs will converge on rootkits, and all attempts at controlling the Internet will converge on surveillance and censorship. This stuff matters because we've spent the last decade sending our best players out to fight what we thought was the final boss at the end of the game, but it turns out it's just been an end-level guardian. The stakes are only going to get higher.

As a member of the Walkman generation, I have made peace with the fact that I will require a hearing aid long before I die. It won't be a hearing aid, though; it will really be a computer. So when I get into a car—a computer that I put my body into—with my hearing aid—a computer I put inside my body—I want to know that these technologies are not designed to keep secrets from me, or to prevent me from terminating processes on them that work against my interests.

Last year, the Lower Merion School District, in a middle-class, affluent suburb of Philadelphia, found itself in a great deal of trouble. It was caught distributing, to its students, rootkitted laptops that allowed remote covert surveillance through the computer's camera and network connection. They photographed students thousands of times, at home and at school, awake and asleep, dressed and naked. Meanwhile, the latest generation of lawful intercept technology can covertly operate cameras, microphones, and GPS tranceivers on PCs, tablets, and mobile devices.

We haven't lost yet, but we have to win the copyright war first if we want to keep the Internet and the PC free and open. Freedom in the future will require us to have the capacity to monitor our devices and set meaningful policies for them; to examine and terminate the software processes that runs on them; and to maintain them as honest servants to our will, not as traitors and spies working for criminals, thugs, and control freaks.

Cory is giving a talk at the Long Now next week - Cory Doctorow Seminar Primer.
If geek culture had a class president, Cory Doctorow would be frontrunner for the position. He writes for BoingBoing, uses Ubuntu, played a hero in XKCD, published several rebellious young-adult sci-fi novels (under CC licenses, no less), and has worked on two continents fighting for the rights of internet users. He’s spent the better part of the last couple decades encouraging content-producers to embrace the new models of distribution made possible by the internet and fought them tooth and nail when they seek to hold it back.

His outspokenness doesn’t come from a single statement like “information wants to be free.” Doctorow argues in a recent essay called Lockdown that enforcing Copyright law in the digital era is about more than protecting the rights of intellectual property holders; it has rather become a kind of trojan horse for the surveillance industrial complex and threatens to severely curtail the individual autonomy of the world’s citizens. Computers are infusing everything, he explains. They increasingly extend our embodiment and cognition and can thus be enabling and liberating. Computing’s inherent flexibility therefore offers a form of freedom; commercial or governmental interests that seek to control computing for their own needs or simply out of a fear of the new way must be resisted in order to protect that freedom.

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Monday, 23 July 2012

Sit tight, the tidal wave of clean energy is on the horizon

Posted on 05:04 by Unknown
The SMH has a suprisingly optimistic article on some Australian cleantech companies - Sit tight, the tidal wave of clean energy is on the horizon.
You may be looking at the often forgotten clean technology sector, but you may have to be patient before it generates good returns.

The introduction of the carbon tax means the focus will be on companies that operate in the green sector, either delivering energy in an environmentally sustainable way, reducing waste or minimising the impact of other companies' pollution.

The carbon tax sets a fixed price for carbon units, as they are called, for the next three years. That price is $23 in the first year, rising to $25.40 in 2014-15.

That impost should make cleantech companies more viable competitors to fossil-fuel energy producers such as coal and oil. ...

VMOTO (VMT)

The electric-scooter company recently signed a contract for 6000 scooters with Shanghai's PowerEagle International. China is the world's biggest two-wheeled market and the deal would see Vmoto produce about 150,000 units by 2015. PowerEagle will use its distribution network to sell the scooters in China.

CERAMIC FUEL CELLS (CFU)

This is one of the more established businesses in the cleantech sector. It produces power-generating products for home and office, built around its fuel-cell technology. In its ASX update in March, the company said it had orders for 619 units. Payments received in the March quarter totalled $2.7 million, which was 85 per cent above the December quarter. Some of its BlueGen units were sold to clients in Britain and Germany, and the company has launched a marketing effort in the Netherlands. Domestically, it has installed 25 of its units in Newcastle, NSW, as part of the ''Smart Grid, Smart City'' project and 30 units are in similar projects in Victoria.

Co2 GROUP (COZ)

The company has about 22,300 hectares of trees planted for its carbon sink (reforestation) projects for other companies.

Management announced a record net profit result of $1.6 million for its past half year. Revenue for the company was also up significantly. While the company did not pay a dividend last time, the board says it's reviewing its policy in that area.

It also has a range of other environmental services such as forestry mapping and management, mine-site rehabilitation and carbon accounting.

Co2 is expanding its operations in New Zealand and looking at other overseas markets.

CARNEGIE WAVE ENERGY (CWE)

The company (and its share price) recently received a big boost after the Prime Minister, Julia Gillard, confirmed the government's support for an exclusive agreement for Carnegie's Perth Wave Energy Project to power the Department of Defence's HMAS Stirling naval base. The company's wave-energy system includes an array of submerged pumps, which are tethered to seabed pump units. The motion of passing waves drives the pumps, which pressurise water, which is then delivered to the shore via pipes. That water then drives hydroelectric turbines. The managing director, Dr Michael Ottaviano, strongly supports carbon pricing.

ALGAE.TEC (AEB)

The company has a high-yield algae-growth manufacturing system, which produces what it describes as sustainable and renewable oil for fuel. Algae has long been viewed as a possible replacement for fossil fuels. Algae production also avoids the ''fuel versus food'' debate, which can affect soybean and other biofuel foodstocks. Broker Patersons notes all companies in the algae sector face challenges in terms of the selection of algae species, optimum sunlight and water use. An Algae.Tec demonstration plant has been commissioned in Nowra on the NSW south coast and airline operator Lufthansa is conducting a test of algae oil.

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Blog Archive

  • ▼  2013 (156)
    • ▼  August (23)
      • The Ecuadorian Library
      • A Texan tragedy: ample oil, no water
      • The Third Carbon Age ?
      • Elon Musk unveils his plans for the Hyperloop
      • A Material That Could Make Solar Power “Dirt Cheap”
      • A Farewell To The Oil Drum
      • How a White or Green Roof Can Keep Your Building U...
      • Peak oil researcher says shale profits proving eph...
      • Commentary: Is Peak Oil Dead?
      • Big nuclear power company decides renewables are a...
      • Oslo On The Hunt For Rubbish To Burn
      • Port Augusta to finally get solar thermal power – ...
      • Meet the New Meat
      • Renewable Energy Prices Continue to Fall
      • Supermajordämmerung
      • The great de-electricifation of Australia
      • The CIA Wants To Control the Climate!!!!
      • Methane Hydrates Could Be Disastrous For The Planet
      • Growth of Global Solar and Wind Energy Continues t...
      • Duke Energy shelves major nuclear project in Florida
      • Fracking Could Help Geothermal Become a Power Play...
      • Flying a kite for aerial wind power
      • World's Biggest Offshore Wind Farm Switched On in ...
    • ►  July (74)
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  • ►  2012 (191)
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  • ►  2011 (153)
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    • ►  September (31)
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