The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it. This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014. Over the past several years, China has sought to aggressively expand trade with Saudi Arabia, and China now actually imports more oil from Saudi Arabia than the United States does. In February, China imported 1.39 million barrels of oil per day from Saudi Arabia. That was 39 percent higher than last February. So why is this important? Well, back in 1973 the United States and Saudi Arabia agreed that all oil sold by Saudi Arabia would be denominated in U.S. dollars. This petrodollar system was adopted by almost the entire world and it has had great benefits for the U.S. economy. But if China becomes Saudi Arabia’s most important trading partner, then why should Saudi Arabia continue to only sell oil in U.S. dollars? And if the petrodollar system collapses, what is that going to mean for the U.S. economy?
Tag Archive: Environmentalists
Thank you Mr. President: Brownouts – Blackouts – Huge increases in electric bills.
GLEN LYN, Va. — The reality of snuffing out several antiquated coal-fired power plants moved a step closer to reality on Thursday with American Electric Power issuing formal notification of the plan to retire 4,600 megawatts of power to comply with Environmental Protection Agency regulations.
“We continue to have serious concerns about the potential impact these plant retirements — and retirements of generation announced by other utilities — will have on the reliability of the electricity grid,” Nicholas K. Akins, AEP president and chief executive officer was quoted in an AEP press release as stating. “Our retiring units were required to run to meet peak demand last summer and little new generation is scheduled to come on line prior to the retirement dates to replace the lost generating capacity.”
AEP needed to retire more than 4,600 megawatts of coal-fired power to comply with EPA regulations. In addition, AEP was required to announce the plant retirements before PJM Interconnection’s auction in May that will set electric generation capacity prices from June 2015 through May 2016.
AEP’s Glen Lyn plant is among a group of several power plants scheduled to be retired on June 1, 2015, but AEP will start retiring coal-fired plants as early as Dec. 31, when it retires the Conesville 3, plant in Conesville, Ohio. AEP has already retired the 450-megawatt Sporn Plant in February.
- AEP Formalizes Plant Closures, Power Grid Trouble Ahead? (AEP) (247wallst.com)
- New EPA regulations force power plants to close; Blackouts possible (junkscience.com)
- Power plant closures to cost US towns jobs, taxes (seattletimes.nwsource.com)
- EPA: Power plants top source of gases blamed for climate change (seattletimes.nwsource.com)
I am sure there are many Americans who have no idea nor care what “The Draft International Covenant on Environment and Development” (DICED) is. They should. Some call the Draft Covenant “Agenda 21 on steroids” while others see it as the “Environmental Constitution of global governance.”
The first version of the Covenant was presented to the United Nations in 1995 on the occasion of its 50th anniversary. It was hoped that it would become a negotiating document for a global treaty on environmental conservation and sustainable development.
The fourth version of the Covenant, issued on September 22, 2010, was written to control all development tied to the environment, “the highest form of law for all human activity.’
The Covenant’s 79 articles, described in great detail in 242 pages, take Sustainable Development principles described in Agenda 21 and transform them into global law, which supersedes all constitutions including the U.S. Constitution.
All signatory nations, including the U.S., would become centrally planned, socialist countries in which all decisions would be made within the framework of Sustainable Development.
In collaboration with Earth Charter and Elizabeth Haub Foundation for Environmental Policy and Law from Canada, the Covenant was issued by the International Council on Environmental Law (ICEL) in Bonn, Germany, and the International Union for Conservation of Nature (IUCN) with offices in Gland, Switzerland and Cambridge, UK.
Environmentalists would have everyone believe that oil, gas, and coal—all fossil fuels—are at the base of much of the world’s ills. Nuclear is no better. They even oppose hydropower, wind energy, and commercial solar. Yet, they claim the high ground and position themselves as the moral authority. What would the world look like if they were setting truly setting energy policy rather than merely influencing it?
An in-depth study of environmental groups’ energy-related goals as posted on their websites’ shows that there is not an energy project they like. In short, they want to “kill,” “block,” and “deny.” The only thing they want to expand is moratoriums.
If environmentalists are in charge, expect these changes to American life:
AMAC Tells GOP Candidates: ‘Seniors Feel The Pain of President Obama’s Energy Policies’ | AMAC, Inc.
“Older Americans are getting clobbered by the Obama Administration’s energy policies aimed at steadily increasing gasoline prices until they reach ‘the levels in Europe’,” according to Dan Weber, president and founder of the Association of Mature American Citizens . Mr. Obama’s aim is to wean America off of fossil fuels in favor of green projects, he explained.
- Dems propose ‘Reasonable Profits Board’ (notgoodnewsfinder.com)
- Like It or Not, We Now Have an Energy Policy (energyindependenceforstates.com)
- ‘All-in’ energy policy: Will coal be buried? (junkscience.com)
- Video: Get ready for big hike in gasoline prices; Update: NBC hypocrisy? (hotair.com)