Commentary: End of coal era in India coming sooner than many think

first_img FacebookTwitterLinkedInEmailPrint分享Asia Times:On Tuesday last week, Tony Abbott, Australia’s ex-prime minister, was photographed in parliament clutching a document entitled, the “Coal era is not over.”In India, which until recently had the world’s second-largest coal pipeline, two seismic events have signaled the contrary to be true.According to Australia’s pro-coal “Monash Forum” parliamentarians, of which Abbott is a founding member, India is ensuring a rosy future for coal exporters such as Australia due to its plans to construct 116 new power stations, or around 88 GW. Ironically, on the same day the Forum’s “fact sheets” were released, NTPC, the largest owner and developer of domestic coal plants in India, shelved its 4 GW Pudimadaka Ultra-Mega Power Plant, due to be built in the state of Andhra Pradesh.This decision to cancel the largest new coal-fired power station planned in India is another step in the country’s remarkable Indian energy transition. Since the start of 2010, as a result of shelved and cancelled projects, India’s coal plant pipeline has shrunk by a staggering 547 GW. To give this some perspective, that is almost three times the total installed capacity of Germany.Today, 88GW–or rather 84GW–are still reported to be “progressing” through approval processes. Though given current trends, this more accurately translates as “yet to be formally cancelled or put into administration.”In fact, of the remaining pipeline, the Institute for Energy Economics and Financial Analysis (IEEFA) estimates no more than 10-20 GW might actually see the light of day. That means more than 84% of India’s 2010 coal pipeline will have been cancelled. What’s more, if India’s 2018 National Energy Plan forecast of 48GW of end-of-life coal plant closures by 2027 occurs, India is rapidly approaching peak thermal coal.Coal will not be gone in a decade, but the era will end sooner than many expect.More: India is bringing the coal era to an end Commentary: End of coal era in India coming sooner than many thinklast_img read more

G7 to coordinate economic reopening plans amid outbreak

first_imgThe leaders of the world’s most advanced economies, who met via videoconference hosted by Trump, are looking for a way to end the economic paralysis.”G7 leaders tasked their ministers to work together to prepare all G7 economies to re-open safely and on a foundation that will allow the G7 nations to reestablish economic growth with more resilient health systems and trusted supply chains,” the White House said in a statement.The United States currently chairs the G7, which includes Britain, Canada, France, Germany, Italy and Japan.The International Monetary Fund has warned that the global slowdown is the worst since the Great Depression of the 1930s, cutting world output by three percent this year alone. G7 leaders on Thursday pledged to work together to “safely” put people back to work as the coronavirus crisis drags on in a bid to revive the slumping global economy, the White House said.The Group of Seven nations also called for “thorough review and reform” at the World Health Organization, after US President Donald Trump’s searing criticism of the UN agency.In a bid to curb the spread of the novel coronavirus, many countries around the globe have instituted extreme stay-at-home orders that have shuttered businesses and devastated the job market. European Union leaders, who also participated in the call, said in a statement that trade would be crucial “in both overcoming the immediate crisis and ensuring a robust economic recovery.”More than two million people have been infected with the virus worldwide, and more than 140,000 have died.The G7 leaders agreed to “pool their research and talent to combat COVID-19 by sharing all relevant epidemiologic data,” the White House statement said.They emphasized their commitment to “a strong and coordinated global response to this health crisis,” and discussed what the statement called the WHO’s “chronic mismanagement of the pandemic.””The leaders called for a thorough review and reform process,” the statement said.Trump has halted all funding to the Geneva-based WHO, saying it put too much stock in the assurances made by China after the virus emerged there late last year.But it was not clear how widespread the criticism of the WHO was at the meeting. German Chancellor Angela Merkel’s spokesman issued a statement expressing her “full support” for the agency.And EU leaders said any solution to the crisis would have to come “in strong cooperation with the existing international organizations.”center_img Topics :last_img read more

Lacson bares last-minute insertions in 2020 budget

first_img MANILA – Members of the House of Representatives have reportedly made billions worth of insertions in the proposed P4.1-trillion national budget for 2020, Sen. Panfilo Lacson said. “Our preliminary scrutiny of the last minute insertions made by the House would indicate that the Source File is the list of 1,253 budget items worth P83.2 billion that was apparently used as the congressmen’s ‘source’ of their ‘list’ of 742 projects worth P16.3 billion that were inserted in the bicam report that was signed by both panels this morning,” Lacson said. Presidential spokesperson Salvador Panelo, meanwhile, assured Lacson that President Rodrigo Duterte will carefully scrutinize the budget and will veto unconstitutional items. Senator Panfilo Lacson says there were billions of pesos in lump sum funds that House members inserted in the General Appropriations Bill which were “vaguely described.” CNN PHILIPPINES “Since there is no preliminary explanation from the House regarding the 2 Files, we cannot ascertain if indeed only P16.345 billion or the bigger amount of P83.219 billion was inserted at the last minute prior to the bicam signing… What is clear though is that there are still lump sums and vaguely described projects that are now part of the bicam report,” he added. Lacson also said that Albay received the biggest amount of lump sum funds at P670 million, followed by Cavite with P580 million, Sorsogon with P570 million, Batangas with P502 million, Bulacan with P440 million, Pangasinan with P420 million and Cebu with P410 million.center_img Lacson claimed that there were billions of pesos in lump sum funds that House members inserted in the General Appropriations Bill which were “vaguely described.” Lacson said in a radio interview on Thursday that he, Senate President Vicente Sotto III and Sen. Juan Edgardo Angara will list all the questionable insertions made by the House and forward it to the Office of the President. “The provisions in the budget that run counter to the Constitution will be vetoed by the President. There is no change in that policy,” Panelo said in a statement on Thursday. Lawmakers on Wednesday approved the proposed P4.1-trillion national budget for 2020 to follow the request of President Rodrigo Duterte to immediately ratify the bill for next year after this year’s budget was delayed to some issues./PNlast_img read more