On the Blogs: Bankrupt Coal Companies Don’t Always Stop Mining Coal

first_imgOn the Blogs: Bankrupt Coal Companies Don’t Always Stop Mining Coal FacebookTwitterLinkedInEmailPrint分享Daniel Cohan for TheHill.com:The largest pillar of the coal industry has now fallen. In filing for bankruptcy last week, Peabody Energy joined Arch Coal, Patriot Coal, Walter Energy and Alpha Natural Resources among the largest coal mining companies recently facing this fate.Coal emits more air pollutants and climate warming gases than any other fossil fuel, and its mining can devastate local ecosystems and watersheds. Curtailing the amounts of coal mined and burned would thus yield a myriad of benefits for the environment and health.However, the road to bankruptcy court doesn’t necessarily mark the path to a sustainable energy future. It is time to think afresh about how the environment and health can be considered in coal bankruptcies.Like most of its peers, Peabody chose Chapter 11 for its bankruptcy filing. Unlike a Chapter 7 liquidation, Chapter 11 allows a company to continue operating while it manages its debts and seeks to emerge as a viable corporation. Peabody’s statement said it intends to continue operating its mines uninterrupted as the bankruptcy process proceeds.Thus, while bankruptcy can crimp the finances of creditors and investors, it won’t necessarily cut coal mine output. In fact, coal companies seeking to pay off creditors may face pressure to maintain revenues from coal.The challenge of maintaining revenue has grown as coal prices have fallen. Coal from Wyoming’s Powder River Basin, widely used for its low sulfur content, has fallen to $9.35 per ton. I’d call it dirt cheap if I knew anywhere selling dirt for less than half a penny per pound.With coal so cheap, its sales likely generate far less revenue than its damage to health and the environment. Since coal is composed primarily of carbon atoms, each of which combines with two oxygen atoms to form carbon dioxide, burning coal generates about 1.87 times its own weight in carbon dioxide.In other words, Powder River Basin coal mines are receiving only about $5 per ton of carbon dioxide that their coal generates when burned. The revenue per ton of pollution would be even lower if we consider life cycle impacts such as the diesel emissions needed to mine and transport the coal and the methane released from the mine.Virtually all estimates of the social cost of carbon to climate change are many times higher than $5 per ton. That’s even before considering environmental impacts beyond climate such as damage to air quality, water and wildlife.In other words, society as a whole pays a very high price as coal mining companies seek to pay off their creditors in bankruptcy. It could even be argued that a domino effect of coal mining bankruptcies has taken hold, as the urgency of already-bankrupt companies to pay off creditors has kept coal mine output from falling sufficiently. Though coal mining is down sharply, unusually large stockpiles of coal show that mining has not fallen fast enough to offset the effects of cheap natural gas and growing deployments of renewables.Bankrupt coal companies create an additional burden if they do not cover the environmental damages they have caused. Communities near coal mines have reason to be concerned about whether adequate steps will be taken to remediate coal mines owned by bankrupt companies.All of these factors receive insufficient attention in bankruptcy proceedings, as repayment of creditors and restructuring of debts dominates deliberations. How best to give the environment and public health seats at the table in bankruptcy court requires legal expertise far beyond my training as an environmental engineer. Nevertheless, the prices and emissions calculations provided here demonstrate that the coal assets owned by these bankrupt companies may be far more valuable to society if left in the ground rather than mined to pay off creditors.Cohan is associate professor of civil and environmental engineering at Rice University.When coal companies go bankrupt, the mining doesn’t always stoplast_img read more

A family home, with plenty of privacy, features dual living options

first_img32 Mars Street, Coorparoo.Mr Smith said his three children had moved out of home and they were looking to downsize.He said the home would best suit a family with teenage children. “It could even be perfect for those looking for dual living options – a family with a grandma they might need to accommodate,” he said. “It could be ideal for students or used as an Airbnb.” The lovely kitchen area at 32 Mars Street, Coorparoo.Blackbutt ceilings and flooring combined with the colours of the bush exude a welcoming warmth.From the living area, two sliding glass doors open to the 13m x 3m veranda. Mr Smith said the deck was his favourite part of the home to relax.“The north-facing veranda overlooks the parkland behind, it’s lovely,” he said. The bedroom at 2 Mars Street, Coorparoo.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020The entrance to the upper level is from the street and opens to a large foyer.A designated well-appointed office is on the left.The spacious open plan design showcases a combined living and dining area, with expansive glass framing the view. 32 Mars Street, Coorparoo.Jenine and Cam Smith were drawn to the Coorparoo area because of its beauty and peacefulness.Their home at 32 Mars St, is an architect-designed new build, finished in 2011.The four-bedroom, three-bathroom home is positioned overlooking a bushland pocket at Coorparoo. The cute deck at 32 Mars Street, Coorparoo.Another standout feature of the home is the gym, which can be used as a media room if desired. Mr Smith said there was also plenty of room to put in a pool.With fantastic neighbours nearby, Mr Smith said street parties were held each year.“You could definitely live quietly here without any interference but also know the neighbours were around to help if you needed anything,” he said.last_img read more

Cricket News Australia’s Cricket World Cup team announced, Aaron Finch to lead squad

first_imgNew Delhi: Cricket Australia on Monday announced their squad for the upcoming ICC World Cup. The tournament which is beginning on 30th May in England and Wales is featuring 10 teams. Despite Steve Smith returning to the side cricket Australia has announced that Aaron Finch will be leading the 15-member squad. Pat Cummins is named as the vice-captain. David Warner and Steve Smith have returned to the squad after completing a year ban from international cricket for ball-tampering controversy. Alex Carey has been included as the specialist wicket-keeper for the world cup.Australia Cricket World Cup 2019 squad: Here is the complete listAaron Finch (c) Usman KhawajaDavid WarnerSteve SmithShaun MarshGlenn MaxwellMarcus StoinisAlex Carey (WK)Pat Cummins (VC)Mitchell StarcJhye RichardsonNathan Coulter-NileJason BehrendorffNathan LyonAdam ZampaAustralia will be playing two spinners, Adam Zampa and Nathan Lyon and two all-rounders, Glenn Maxwell and Marcus Stoinis. Australia has included five pacers in the squad. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

What’s next for Manny Pacquiao, Keith Thurman and the welterweight division?

first_imgThey both have a common opponent in Pacquiao, and Broner is already planting the seeds for a fight by ridiculing Thurman after Saturday night’s loss for “nearly quitting” and accusing him of not being focused. Considering that Broner hasn’t won a meaningful fight since John Molina Jr. in 2015 but has relied on his ability to go 12 rounds with anybody, perhaps this would be the perfect “get back” fight for Thurman.Broner’s antics outside of the ring have kept him as a top attraction, and Thurman could use an opponent who will sell the fight and isn’t quite as skilled as the others mentioned. Broner hasn’t fought since the Pacquiao fight in January and would likely stay on the sidelines should a money fight with Thurman materialize. Boxing remains a volatile sport, one in which money often supersedes making the correct matchup. But, as it stands right now, the welterweight division is as exciting as ever and has plenty of options for both Pacquiao and Thurman. What a difference two years makes. Join DAZN and watch more than 100 fight nights a yearAll the major players were in the MGM Grand Garden Arena on Saturday night. Spence and Porter were bickering on television over their unification bout scheduled for Sept. 28 in Los Angeles while Garcia and Adrien Broner were also in attendance. Crawford is still with Top Rank and wasn’t present even though he’s become a titleholder in the division as the WBO welterweight champion. Even Mayweather made an appearance as he caught a glimpse of boxing’s past and present, seemingly content with retirement.But the fight they came to see was one that was considered unfathomable 24 months ago as a rejuvenated Pacquiao at the age of 40 was fighting Thurman, a man who had only fought once in two years and had a difficult time against journeyman Josesito Lopez.  Modifying a quote from “Game of Thrones” character Syrio in the first season of the hit HBO show, and later put into action by Arya Stark in the final season: “What do we say to Father Time?””Not today.”Pacquiao looked as explosive as he had in years when he put Thurman down in the opening round and pounded on the former unified champion to earn an entertaining and hard-fought split decision victory and claim Thurman’s WBA (Super) welterweight crown. Pacquiao’s victory was a reminder to the boxing world that the 40-year-old isn’t finished with boxing just yet and has once again found himself in the conversation as one of the sport’s elite. His victory cements his greatness and likely sent him up a G.O.A.T. list a few notches.Perhaps not since a 45-year-old George Foreman’s stunning knockout of Michael Moore to claim the WBO heavyweight title in 1994 have we seen a fighter have a career resurrection in his 40s. (For the record: Bernard Hopkins and Archie Moore’s post-40s careers don’t apply as both were still stellar entering their fourth decade of life. Pacquiao was on the verge of being sent to the glue factory.)But where do Pacquiao, Thurman and the rest of the division go from here?For Pacquiao, his journey is far from over. He has now won three consecutive fights in just over 12 months, with each victory more impressive than the last. He’s found his killer instinct that he appeared to have lost somewhere around the third fight with Juan Manuel Marquez in 2011, which was a necessary aspect of his career as he tore through eight divisions. With it, he would win rounds definitively by constantly looking for the kill. Without it, he let many opponents off the hook and was content on narrowly outpointing who he fought rather than beating them into submission. The skills were never in question, but the desire to dominate was. With that mental block lifted, Pacquiao remains a compelling opponent for anybody at 147 pounds — but the next move could be a dangerous one. The prevailing thought is that Pacquiao will face the winner of Porter vs. Spence to unify three of the four major titles. The winner of that fight will likely be a more challenging opponent for Pacquiao than Thurman was. The reality is that Pacquiao fought a version of Thurman who was befallen by a lack of activity over the past two years. Although unbeaten, he was a far cry from the man known as “One Time” who leveled opponents with his power during his rise to the top. Team Pacquiao knew what it was doing when it selected Thurman after soundly thumping Broner, who was another relatively safe option due to his name being bigger than his ability. It was evident from the first-round knockdown that Thurman wasn’t as sharp as he needed to be in order to time Pacquiao. He would make some impressive adjustments and showed great resolve, but it was too little, too late for the product from Creekwater, Fla. Pacquiao won’t have that luxury against either Spence or Porter. Most expect Spence, who is considered a top-three pound-for-pound fighter, to beat Porter and unify the titles. And while Spence has made it clear that he’s interested in a Pacquiao fight more than any other, a potential Pacquiao-Spence blockbuster would be a bad idea for the Filipino senator. At 29, Spence is 11 years Pacquiao’s junior and has both the size and technical ability to give Pacquiao hell should they meet. He’s a giant in the welterweight division who, no matter what he tells us, won’t be hanging around at 147 pounds much longer. But should the fight take place, it’ll be against an opponent who once gave Mayweather all he could handle during a grueling sparring session that left “Money” with a shiner. Spence has impeccable timing, a killer instinct and tremendous power. He shattered Brook’s other orbital bone opposite the one Gennadiy Golovkin, a middleweight, broke a fight before. His opponents have been beaten up. From September 2014 to June 2018, Spence either knocked out or forced 11 consecutive fighters to quit. His March fight against a fellow pound-for-pound fighter in Mikey Garcia turned out to be a one-sided boxing clinic. Like Pacquiao, Garcia was an undersized welterweight who simply couldn’t find a way to get inside Spence’s reach and paid for it dearly by being shut out for 12 rounds. If you are Pacquiao, you may want to pass on that fight. In the event that Porter defeats Spence, it may be a more winnable fight, but Porter’s physicality is something that could be trying for the soon-to-be 41-year-old. Maybe he should look elsewhere. There are two fights available against opponents he could match in terms of skills or size: Mayweather and Crawford.Mayweather wasn’t just in attendance because his promotional company was part of this fight. The man who enjoys his millions needed to see what Pacquiao was in the ring, and how he was received outside of it. And judging by the sellout of 14,356 fans who were seemingly all there for Pacquiao, there’s still money to be made. Although Mayweather dominated Pacquiao when the two met in 2015 for a record-shattering night, there were lingering questions about a shoulder injury that limited Pacquiao and that lack of killer instinct. Mayweather-Pacquiao 2 could answer those questions with what we expect to be a much better version of Pacquiao bringing an undefeated opponent out of retirement who hasn’t fought a competitive opponent in half a decade. The other opponent is less likely, but maybe a bit more intriguing in Crawford. This is a fight that Top Rank’s Bob Arum could have — and probably should have — made while Pacquiao was still a part of his stable. But for one reason or another, he did not and missed the opportunity to make “Bud” a superstar. Well, he has an opportunity now, but he’d have to split the pie with Al Haymon. The reality is that Crawford has absolutely nobody to fight at Top Rank, and a bout with Spence would only be made bigger if Crawford managed to beat Pacquiao. And for Pacquiao, a victory against a man who is more his size — but arguably more talented — would further add to his legacy without the danger of being muscled around by a larger, younger and incredibly skilled fighter. Highly unlikely, but it’s doable.As for Thurman, he’ll need to go back to the drawing board and work his way back into the welterweight elite. There are three options for him that are compelling for a number of reasons, but only one of those options should be immediately targeted. Thurman could face Yordenis Ugas, who defeated Omar Figueroa Jr. on the Pacquiao-Thurman undercard. Ugas also gave Porter all he could handle in a fight in which there were those who saw Ugas winning. But it wouldn’t be pretty as Ugas’ Cuban amateur style doesn’t make for entertaining fights. He’d be a tough out, but perhaps too dangerous for what the return would be. Another option is Mikey Garcia, who has been all over the place lately. He’s been tied to a fight with Danny Garcia at welterweight, where he appears to want to stay despite being small for the division. Then there have been talks of him signing with DAZN. Regardless of what he’s doing, he’s in need of a big fight, and if the Danny Garcia option falls through, a bout with Thurman is intriguing.The timelines don’t quite match up, however. Garcia needs a fight sooner rather than later, and Thurman has been clear that he won’t fight again until 2020. That leaves one fighter who isn’t quite as dangerous but carries mainstream appeal: Broner.  Just two years ago, the landscape of the welterweight division was completely different. Manny Pacquiao had just suffered a shocking — albeit controversial — loss to Jeff Horn, which signaled a changing of the guard in the division and in boxing overall. With Floyd Mayweather set to rob the bank in a cash grab against the UFC’s Conor McGregor, Pacquiao was the last remnant of boxing superstars from a previous era, and he appeared ready to ride off into the sunset as his best years were behind him. Meanwhile, Keith Thurman had recently unified the WBA (Super) and WBC welterweight titles by defeating Danny Garcia. Shawn Porter had just ransacked Andre Berto after dropping a decision to Thurman earlier in the year. Errol Spence Jr. claimed the IBF welterweight title with a one-sided battering of Kell Brook. He was still boxing’s dirty little secret as the sport’s most lethal fighter. As for Terence Crawford, he defeated Felix Diaz to retain the junior welterweight titles and had not yet ventured to the 147-pound weight class. last_img read more

Jazz’s Bojan Bogdanovic on game-winner: Coaches trusted me despite my bad night

first_imgMORE: Blazers’ Lillard frustrated with Jazz’s Mitchell, officials after controversial loss👀 every angle of Bojan Bogdanovic’s #TissotBuzzerBeater for the @utahjazz win! #ThisIsYourTime #TakeNote pic.twitter.com/O4y1WRTIOq— NBA (@NBA) February 10, 2020The forward finished with eight points in 32 minutes on 2-of-7 shooting as Utah improved to 34-18.Bogdanovic praised Utah’s coaching staff for giving him the chance despite his below-par performance.”First of all, I wasn’t supposed to be on the court on the last play the way I played the whole game,” he told AT&T SportsNet. “But that’s the coaching staff, they believe in me, they gave me the opportunity to shoot the game-winning shot.”I stayed confident, I know that I’m able to hit all shots and at the end of the game, it’s a very important W for us.”James Harden finished with a triple-double of 28 points, 10 rebounds and 10 assists for the Rockets, while Russell Westbrook had 39 points. Bojan Bogdanovic said he should not have even been on the court to produce his game-winner for the Jazz against the Rockets on Sunday.Bogdanovic had struggled for much of the contest, but he hit a buzzer-beating 3-pointer to lift the Jazz to a 114-113 victory. “That was our game plan, to take the ball out of James’ hands. We did a great job the whole game,” Bogdanovic said. “Rudy [Gobert] was guarding, big time, Russell Westbrook all game.”Bogdanovic also talked up the importance of the win for Utah (34-18), which now leads Houston (33-20) by 1 1/2 games for fourth place in the Western Conference.”Like I said, big and really important victory for us,” he said.last_img read more