Tag Archives: economy

Fukushima, Idaho, Technology

Radiation mystery at Idaho National Laboratory, Cesium & Cobalt

U.S. department of Energy reported on April 6, 2012, that radioactive particles of cesium and cobalt are being found on construction materials.

A contractor discovered the contamination.  Officials think it could be from the demolition of old buildings in that area of the INL site, which would imply that the buildings were contaminated before being torn down.

A local east Idaho DOE spokesman said there was no concern “…unless you get it onto your skin…” and you had “…prolonged exposure…”

Employees and vehicles are now being checked for contamination as they enter and leave the site.

Business/Economics, International, Technology, U.S.

Oil & Gas Prices: Egyptian pipeline blown up again, Natural Gas Glut results in 10 years low prices, U.S. investigates European oil companies in Libya, Iran reduces oil exports

According to Azerbaijani media, Iran’s Oil Ministry is confirming that their oil exports are dropping due to Western oil sanctions.

Iranian oil officials say Japan has made the biggest cut in oil purchases, despite recently getting an exemption from the United States.  Japan cut Iranian oil imports by 28% from January to April 2012.

However, Iran’s oil exports have also gone down due to their own oil embargo of the European Union.  The EU’s own oil sanctions go into effect on July 1.

Speaking of Japan, Tokyo Electric, the operator of the nuclear disaster reactors at Fukushima Daiichi, has been using oil to generate electricity, a lot more oil.

TEPCo reported that in March 2012 they used four times the amount of oil than in March 2011.  They also used the most natural gas since August 2011, and August was a record for gas use by TEPCo; 2.079 million tons.

Regarding natural gas, the United States is so full of it, that there is no where left to store the stuff.  Underground salt caverns, depleted oil fields and aquifers are being used but even they are rapidly filling.

The result is that drilling and pumping of the LNG will have to stop, natural gas prices are at ten year lows (we consumers like that).  Maybe this will mean an end to fracking and man made earthquakes?

But that might be bad news for places like Williamsport, Pennsylvania.  The town has seen an economic boom; their tax revenues have gone up more than 10% between 2006 and 2010, and 115 new business in and around Lycoming County have been created.

In Egypt, ever since the January 2011 Revolution their gas pipeline to Israel and Jordan keeps getting blown up.  April 9, 2012, it got blown up again, for the 14th time since the Revolution.

In Libya, U.S. officials are investigating oil deals made with Italy’s Eni, and France’s Total.  The companies are being investigated for their connections to Muammar Gaddafi.

Eni officials said certain payments made to Gaddafi might have violated the U.S. Foreign Corruption Practice Act.  The U.S. is helping the new Libyan government investigate many oil companies, and could result in huge fines being levied in favor of the new government.

 

 

 

 

 

 

Business/Economics, Idaho, U.S.

Idaho’s Coldwater Creek loses a VP, Judge tells former employee to expect more prison time, makes store closings watch list

A 1st District Judge in Idaho, has refused to accept terms of a plea agreement.

The case involves a former executive assistant at Coldwater Creek.  She pled guilty in exchange for paying $251,943 in restitution, a suspended three to 10 year prison sentence, and 90 days in county jail.

She is accused of racking up hundreds of thousands of dollars in fraudulent personal expenses at Coldwater Creek, and taking money from a non-profit group involved in education.

The judge said he didn’t like the 90 day county jail time deal, because there are other cases of fraud, in Idaho, in which the defendants took much less money, and spent much more time in county jail, after making a plea deal.

Also, Overstock.com has hired away Coldwater Creek’s vice president of marketing.

Timothy Dilworth worked for Coldwater Creek since 2000.  But is Overstock.com getting a good executive?  After all, hasn’t Coldwater Creek been losing sales for the past several years?

According to Internet Retailer, out of the top 500 U.S. retail companies Coldwater Creek ranks 93rd (not to bad, if that’s 93rd from the top).

Towards the end of March, Coldwater Creek stocks led a small rally in the retail sector. This was due to a smaller net loss than expected.  However, their sales were less than expected as well.  Coldwater Creek stock is now trading for just over one dollar per share.

A Florida based group called Turnaround Management Association, listed Coldwater Creek as one of dozens of troubled U.S. retailers to watch for store closings, right along with Sears.

Turnaround Management Association specializes in distressed debt, liquidations and bankruptcy proceedings concerning retail companies.

Business/Economics, International, Technology, U.S.

One Year Later: More radioactive shrooms, shoots & beef

Not even a week after Japan set tougher limits on radioactive cesium in food, but more mushroom farms are found to be contaminated.

In a town 300 kilometers (186.4 miles) from Fukishima Daiichi, a farm in Kanagawa Prefecture discovered their mushrooms contain 141 becquerels of radioactive cesium per kilogram.

The new safe limits are 100 becquerels (prior to that the government was allowing food with 500 becquerels to be sold!).

Bamboo shoot farms in Chiba Prefecture have also turned up contaminated.

Ibaraki Prefecture also reporting that bamboo shoots and shiitake mushrooms are contaminated.

In Gunma Prefecture, beef is contaminated with 106 becquerels of radioactive cesium, although the new safe limits for beef don’t go into effect until October!  Gunma officials say they are still asking cattle ranchers not to ship the beef.

ONE YEAR LATER: SOME FUKUSHIMA FARM ANIMALS WILL BE ALLOWED TO LIVE

Business/Economics, Technology, U.S.

Government & Corporate Incompetence: USGS says 6 fold increase in U.S. earthquakes caused by Oil Industry! California watch out!

“A remarkable increase in the rate of M 3 and greater earthquakes is currently in progress in the U.S. midcontinent. The average number of M >= 3 earthquakes/year increased starting in 2001, culminating in a six-fold increase over 20th century levels in 2011.”-USGS study, Are Seismicity Rate Changes in the Midcontinent Natural or Manmade?

Around the beginning of January 2012, officials from the U.S. Geological Survey testified to Ohio state officials, that the fracking going on in their state was the cause of a sudden string of earthquakes.

In July 2011, the state of Arkansas banned fracking for the same reasons.

Now a new study by USGS geologists, published by Seismological Society of America (SSA), confirms that “…the seismicity rate changes described here are almost certainly manmade…”, due to “…oil and gas production.”

The study will be discussed in more detail at a meeting from April 17-19.

USGS scientists point out that the area of increased quake activity is not normal for that part of the United States: “A naturally-occurring rate change of this magnitude is unprecedented outside of volcanic settings or in the absence of a main shock, of which there were neither in this region.”

The abstract details of the study also say: “The modest increase that began in 2001 is due to increased seismicity in the coal bed methane field of the Raton Basin along the Colorado-New Mexico border west of Trinidad, CO. The acceleration in activity that began in 2009 appears to involve a combination of source regions of oil and gas production, including the Guy, Arkansas region, and in central and southern Oklahoma.”

But this is not the only recent study published by the SSA to link oil production with earthquakes. Another report linked the April 2010 Alice, Texas earthquake to oil production in the Stratton field: “We conclude it is plausible, although not proven definitively, that production in the Stratton field contributed to the occurrence of the 2010 Alice earthquake and an earlier similar earthquake that occurred on 24 March 1997.”

So far most of the quakes are taking place in areas that don’t normally have much seismic activity, but California has plenty of earthquakes, and there’s a lot of oil and gas drilling, including fracking, going on there!

“On the one hand, the Division [California agency regulating petroleum industry] remains in denial about fracking for oil. On the other hand, they ask for and receive funding to regulate it and then don’t do it, and have no plans to do it [‘it’ as in ‘regulate’].”-Bill Allayaud, Environmental Working Group

Business/Economics, Idaho, International, Technology, U.S.

What Economic Recovery? Good and Bad news for Idaho’s Hoku Materials

On March 22, 2012, Hoku Solar (a subsidiary of Hoku Corporation, in turn majority owned by China’s Tianwei New Energy) was selected to build a 7.2 megawatt solar farm in Kaua’i, Hawaii.

In December 2011, Hoku Solar actually delivered a 1.18 megawatt solar energy facility, the largest solar power plant in O’ahu, Hawaii.

After the announcement of the 7.2 megawatt solar farm contract, Hoku Corp stock went up 11%.

Now the bad news, another subsidiary of Hoku Corporation, Hoku Materials, is getting hit again by the construction contractor in charge of completing the southeastern Idaho polysilicon factory.

There are reports that once again Hoku has not fully paid its contractor JH Kelly.  This has happened before, and is part of the main cause for many construction delays in the past.  JH Kelly officials say they are taking “action” against Hoku.

Hoku Materials has also played the same game with electricity supplier Idaho Power.  Their latest battle was settled by an Idaho Public Utilities Commission (IPUC) decision.

According to an 15 March 2012 IPUC statement, Hoku got a new electricity contract which: “… reduces Hoku’s monthly minimum payment to about $800,000 for up to 18 months through June 2013.  To protect customers and the company from the lost revenue from the lower minimum payment, Hoku will reimburse the difference between the current and the revised minimum charge in payments spread through November 2014, plus 6 percent interest.  Hoku will also make an initial payment of $3.8 million, with $2 million of that coming from a $4 million deposit already provided by Hoku. The remaining $1.8 million will be paid over the next 18 months at $100,000 per month.  Hoku must give Idaho Power 30 days’ notice when it plans to exceed 10 MW and six-months’ notice when it plans to exceed 20 MW.”  

HOKU MATERIALS’ CUSTOMERS WHO ‘PREPAID’ ARE GETTING IMPATIENT!

Business/Economics, International

What Economic Recovery? Airline pilot? Need a job? Japan needs you!

In yet another sign of population exodus from Japan, the Japanese airline industry is suffering a shortage of airline pilots, and demands for flights are increasing.

As a result the Japanese Transport Ministry will allow planes to be flown by a pilot and a co-pilot who are both older than 60 years.

In 2004 Japan allowed commercial airline pilots to be older than 60 years of age, but co-pilots had to younger than 60.

It’s hoped by allowing older flight crews it will help the Japanese airline industry meet growing demand for flights.  But, if you can speak Japanese they’re hiring.

 

 

Fukushima

One Year Later: Fukushima school enrollment down 70%!

Enrollment at grade schools in Fukushima Prefecture are down 70%.

Before the March 2011 nuclear disaster began at Fukushima Daiichi, there were 54 elementary and junior high schools in the Prefecture.  Now only 42 schools are open, and they are operating in rented areas away from their original locations.

School officials say many families have moved away permanently.

Fukushima

One Year Later: Japanese city offers radiation check up for your house, limited time offer!

A city 140 km (87 miles) from the Fukushima Daiichi nuclear disaster is offering radiation checkups for residents.

Utsunomiya City, north of Tokyo, started the service because of demands from taxpayers.

The city says they can check up to five houses per day, inspecting up to three specific areas requested by the inhabitants, such as the entry way or bedroom, etc.

Inspections done so far show radiation levels below the official safe limits.  This is a limited time offer ending in September.