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Britain must end financial help for fossil fuel projects abroad: lawmakers


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Britain must end financial help for fossil fuel projects abroad: lawmakers

By Susanna Twidale

 

2019-06-10T014928Z_1_LYNXNPEF5901J_RTROPTP_4_BRITAIN-CLIMATECHANGE.JPG

FILE PHOTO: The sun rises behind Fiddlers Ferry coal fired power station near Liverpool, northern England, December 15 2008. REUTERS/Phil Noble/File Photo

 

LONDON (Reuters) - Britain must stop financing fossil fuel projects abroad by 2021 as it undermines the nation's efforts to combat climate change, a report by lawmakers said on Monday.

 

The report, which targets financial support provided by the UK Export Finance (UKEF) agency, was published as Britain debates plans to set tougher climate goals and move towards a net zero emissions target by 2050.

 

"The government claims that the UK is a world leader on tackling climate change," said Mary Creagh, chair of the Environment Audit Committee, commenting on the report published by the committee.

 

"But behind the scenes the UK's export finance schemes are handing out billions of pounds of taxpayers money to develop fossil fuel projects in poorer countries," she said.

 

In five years from April 2013, UKEF allocated 96% of its energy sector support, or 2.5 billion pounds ($3.2 billion), to support fossil fuel projects, the report said.

 

The report said this was incompatible with Britain's efforts to reduce greenhouse gases and also carried risks for taxpayers.

 

Companies could be left with stranded assets as tougher emission reduction targets discourage fossil fuel use and as renewable energy becomes cheaper.

 

The Paris climate agreement, adopted by almost 200 nations in 2015, set a long-term goal to limit global warming to "well below" a rise of 2 degrees Celsius above pre-industrial times while striving towards a tougher goal of just 1.5 degrees.

 

(Reporting by Susanna Twidale; Editing by Emdund Blair)

 

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-- © Copyright Reuters 2019-06-10
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3 hours ago, webfact said:

Britain debates plans to set tougher climate goals and move towards a net zero emissions target by 2050.

Ah, so far in the future that probably none of them will still be in parliament to be held accountable.

They could always make an immediate start by banning the mayor of London from making any more trips by air. That would save a few million tonnes of carbon ( sarcasm alert for the humour bereft ).

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6 hours ago, webfact said:

Britain must end financial help for fossil fuel projects abroad: lawmakers

As they allow the groundwater to be destroyed via fracking in their own country.
Hypocrites. 

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On ‎6‎/‎11‎/‎2019 at 10:10 PM, Thongkorn said:

ER Britain was fossil fuel free  a few weeks ago , No fossil fuel was use at all for at least a week and is on going.

:cheesy:

That was a scam, according to the news yesterday. They imported all the electricity to make up for not using coal powered stations from Holland. The Dutch use coal to generate electricity.

Virtue signalling much?

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If per plan ( timing? ) everyone is forced to drive electric or hybrid cars where is all the electricity to recharge all those vehicles going to come from.

By the time of all electric vehicles will all the power come from wind farms or solar panels and all gas and coal plants will be shut down?

Will everyone have to go 'off grid' and have their own wind/solar power gen' system?

Is it possible to power heavy industry, say steel production, from solar/wind systems? I don't think so.

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5 minutes ago, overherebc said:

If per plan ( timing? ) everyone is forced to drive electric or hybrid cars where is all the electricity to recharge all those vehicles going to come from.

By the time of all electric vehicles will all the power come from wind farms or solar panels and all gas and coal plants will be shut down?

Will everyone have to go 'off grid' and have their own wind/solar power gen' system?

Is it possible to power heavy industry, say steel production, from solar/wind systems? I don't think so.

Don't stress it. What no one in authority is telling us is that there is ZERO way they can build enough batteries to power all the vehicles in a country, let alone the world.

Short of a completely different way of constructing batteries that doesn't use rare metals, the resources needed to build them is insufficient, and is probably controlled by a solitary or very few suppliers. Mobile phones may cease to be available, as apparently they need a lot of rare earth substances and China is the only supplier. Seems China will be using that for its own industries.

.

Perhaps the powers that will see the light and start investing in hydrogen power. Promising research is making hydrogen directly from water and using it straight away in the motor. No need for dangerous refuelling stations.

 

BTW, a hybrid provides its own power source, a fossil fuelled motor to charge the battery. Don't need to plug it in.

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21 minutes ago, overherebc said:

 

Is it possible to power heavy industry, say steel production, from solar/wind systems? I don't think so.

Think again:

Whyalla steelworks to be powered by $700m solar, battery and pumped hydro project

https://www.theguardian.com/australia-news/2017/oct/31/whyalla-steelworks-to-be-powered-by-700m-solar-battery-and-pumped-hydro-project

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23 minutes ago, overherebc said:

If per plan ( timing? ) everyone is forced to drive electric or hybrid cars where is all the electricity to recharge all those vehicles going to come from.

By the time of all electric vehicles will all the power come from wind farms or solar panels and all gas and coal plants will be shut down?

Will everyone have to go 'off grid' and have their own wind/solar power gen' system?

Is it possible to power heavy industry, say steel production, from solar/wind systems? I don't think so.

Solar and wind have already made coal uncompetitive. The levelized cost of a solar or wind power plant is actually less than just the operating cost for a coal plant. And now solar and wind are competing economically with gas peaker plants. The cost of solar and wind has declined precipitously over the past 10 years. Far faster than projected. And there are already batteries in existence for power storage that are economically competitive.  

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17 minutes ago, thaibeachlovers said:

Don't stress it. What no one in authority is telling us is that there is ZERO way they can build enough batteries to power all the vehicles in a country, let alone the world.

Short of a completely different way of constructing batteries that doesn't use rare metals, the resources needed to build them is insufficient, and is probably controlled by a solitary or very few suppliers. Mobile phones may cease to be available, as apparently they need a lot of rare earth substances and China is the only supplier. Seems China will be using that for its own industries.

.

Perhaps the powers that will see the light and start investing in hydrogen power. Promising research is making hydrogen directly from water and using it straight away in the motor. No need for dangerous refuelling stations.

 

BTW, a hybrid provides its own power source, a fossil fuelled motor to charge the battery. Don't need to plug it in.

Did see a report of lithium production from water from old mines in uk, can't remember if it was Wales or Devon/Cornwall.

Google is your friend.

Found it.

Just google  Cornish Lithium.

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4 minutes ago, bristolboy said:

Solar and wind have already made coal uncompetitive. The levelized cost of a solar or wind power plant is actually less than just the operating cost for a coal plant. And now solar and wind are competing economically with gas peaker plants. The cost of solar and wind has declined precipitously over the past 10 years. Far faster than projected. And there are already batteries in existence for power storage that are economically competitive.  

Unless they can build a battery that can run a car/ truck for at least 7 hours, towing a trailer, it's a non starter in New Zealand for the rural community, and people like myself. I used to regularly do a 7 hour journey, stopping half way to refuel. No way would we willingly use a vehicle that required a long recharge. Unless the battery can be recharged in under 10 minutes, not going to buy a battery powered car. A 7 hour journey is already long enough without a long stop to recharge.

Whatever the method used to provide electricity, it can't work without the distance needed for many of us.

 

However, no problem regarding electric cars in the city- in fact ideal. Just don't expect us all to pay a new price for a car, whatever it is powered by. Second hand cars that are not very old are available in New Zealand for less than $5,000. No way is everyone going to dump perfectly good cars and fork out many, many thousands of $ for a new car.

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10 minutes ago, overherebc said:

Did see a report of lithium production from water from old mines in uk, can't remember if it was Wales or Devon/Cornwall.

Google is your friend.

Found it.

Just google  Cornish Lithium.

That's good, but somehow I just can't see them being able to make the millions and millions of batteries required to power all the cars in Britain from that.

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27 minutes ago, thaibeachlovers said:

That's good, but somehow I just can't see them being able to make the millions and millions of batteries required to power all the cars in Britain from that.

Agreed. The other thing is going to be disposal and recycle of the old ones and contamination from disposal of the crap from the processes involved.

Only one thing will put this whole sad world in a better place would be a 90% reduction in population from a massive viral infection.

Just hold it off for a few years til I've popped my cloggs. ????????

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1 minute ago, overherebc said:

As does the population, increasingly relying on those advances. 

Really? The population in Western Europe is actually declining. The USA is only above replacement level because of immigration. It's mainly sub Saharan Africa  and some parts of central and south american that are contributing to population growth

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9 minutes ago, bristolboy said:

Really? The population in Western Europe is actually declining. The USA is only above replacement level because of immigration. It's mainly sub Saharan Africa  and some parts of central and south american that are contributing to population growth

Still a growth in pop' numbers though.

images (2).png

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26 minutes ago, overherebc said:

Still a growth in pop' numbers though.

images (2).png

Meaningless data without examining the per capita energy or other natural resource usage per geographic area. 

By example: In 2013 the per capita energy usage in the US was the equivalent of 6,915Kgs of oil, in the same year the per capita energy usage in Cameroon was the equivalent of 331 Kgs of oil. 

 

On energy usage alone an American was using 21 x that of somebody in Cameroon. 

 

For India in the same year the number was the equivalent of 606Kgs of oil per capita, just under 1/14th of someone in the US. 

 

Of course it's not meaningful data to someone who wishes to project the idea that non caucasian dominated societies are the problem. Not that I would dream of accusing anyone here of wanting to make such a case. 

 

 

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1 hour ago, bristolboy said:

Really? The population in Western Europe is actually declining. The USA is only above replacement level because of immigration. It's mainly sub Saharan Africa  and some parts of central and south american that are contributing to population growth

Does it matter where the population growth comes from? Everyone wants to live the life style of rich western countries and have lots of stuff, drive cars. 

It took about 50,000 years to reach 3 billion in the 60s, and we are now reaching 7 billion.

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7 minutes ago, thaibeachlovers said:

The increase in world population negates any advances in pollution control. Humans are a parasite in the true meaning of the word, living off and killing the host.

Can't remember who said it but it was on the lines of

As soon as you think you are important try thinking you are just one member of the greatest parasitic horde that has infected this once pristine planet.

Lots of people get upset when I quote that to them. ????????????

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4 hours ago, overherebc said:

Britain should stop spending money abroad anywhere until it gets itself in order and then only where it produces a return for UK.

 

 An increasing number of people agree with you. What this list does not include,is the question, where does the money we send abroad,actually finish up.

 

9244D034-36A7-4267-A53F-FA77096ADD91.jpeg

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9 minutes ago, nontabury said:

 

 An increasing number of people agree with you. What this list does not include,is the question, where does the money we send abroad,actually finish up.

 

9244D034-36A7-4267-A53F-FA77096ADD91.jpeg

Just an interesting thing. Google Nigerian Palaces images.  ????????

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There is still loads of gas and coal,we should use that first like all the other countries in the world would/will. (They said oil would run out years ago)
Use what we have until a cheap viable alternative is found
I'm for hydrogen...derived from water...one of the most abundant sources on earth.


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