Tag Archives: korea

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

Capitalist Commodity Markets to blame for Pocatello’s Hoku Polysilicon near abandonment!

08 May 2013 (09:49 UTC-07 Tango)/27 Jumada t-Tania 1434/18 Ordibehest 1391/29 Ding-Si (3rd month) 4711

The massive, and expensive (to local tax payers), Hoku Materials polysilicon factory sits idle and unfinished in Pocatello, Idaho.

Red Neck right wingers like to point the finger at President Obama, saying ‘I told you so’ concerning ‘clean energy’ projects, but the reason for the demise of many solar power companies is actually the capitalist commodity market system and government interference.

Polysilicon prices have crashed and burned since construction started on the 50 American football fields long factory.  It just isn’t worth it to produce the stuff used in solar power panels.  In 2008 polysilicon was worth $400 per kilogram, it’s now crashed to a paltry $20.50!

Hoku Materials ghost town factory, Pocatello, Idaho. 50 football fields long at a cost of at least $400 million.

Hoku Materials ghost town factory, Pocatello, Idaho. 50 football fields long at a cost of at least $400 million.

The ‘experts’ got everything wrong.  They thought the high petroleum prices would drive societies into the arms of clean energy companies, but the problem is that so many clean energy companies started production that soon there was a glut of polysilicon on the market, even before the construction of Pocatello Hoku plant was close to being finished.

Then add to that the trade wars between China, the U.S. and European Union.  Eventually, the Obama administration jacked up tariffs so high on Chinese polysilicon companies that it wasn’t worth it to do business in the U.S.  By then Hoku Corporation (the parent of Hoku Materials) had become Chinese owned, due to financial problems (including Hoku Materials not being able to pay its construction contractor, JH Kelly, or pay its Idaho utility bills, so many times that both threatened to seize the property).

By the middle of 2012 the unfinished $400 million USD Pocatello polysilicon factory was moth balled, staffing reduced to just 30 people, with rumors of liquidation in bankruptcy court.  By the end of 2012, the Chinese company that bought into Hoku (Tianwei) was getting blasted in the Chinese media for buying a pig in a poke.  According to former Hoku Corporation CEO, Scott Paul, Tianwei invested “….more than $129 million of its own capital in Hoku, and they have provided for another $244 million in debt financing from banks in China.”

Now back to the ‘experts’.  In February 2013, ‘experts’ predicted that polysilicon prices had bottomed out.  They were wrong!  Prices had hit $21 per kilogram, and polysilicon producers said there was no reason to produce anymore until the price went up over $25.

In March 2013, British media reported that prices had crashed 50% compared to the same time last year.

In April 2013, another report said that polysilicon prices could continue to crash because of the anti-free market tariffs imposed by the major players; China, South Korea, European Union and United States.  And, the ‘experts’ again said prices had bottomed out.  The average price at the end of April 2013 was $20.50.

So where does that leave Hoku Corporation’s Hoku Materials factory in Pocatello?  Optimistic officials with the Bannock Development Corporation (a County level organization that worked hard to bring Hoku to Pocatello, including huge local tax breaks) think that anytime now Hoku will start production: “It’s a wait and see thing, depending on the market……Basically, [Hoku Corp.] needs to fire up the plant when it’s ready to go.”-John Regetz, Bannock Development

Sounds like the local development folks aren’t communicating with Hoku.  The latest statement from the company indicates that bankruptcy and liquidation is the only option being considered: “….exploration of potential restructuring at Hoku Materials and Hoku Corporation is ongoing, with no formal update at this time.”-Hoku Corporation statement

“Restructuring” is code for bankruptcy/liquidation.  So no Mister Regetz, it sounds like Hoku is not planning to “fire up the plant”.

Green/clean energy just doesn’t make big enough profits for the crony capitalist system.  Another case in point is the recent announcement by BP (British Petroleum) that it will abandon it’s wind power operations near Idaho Falls, Idaho, as well as its wind and solar projects across the United States.

Also, don’t forget the artificial reduction in demand created by all those government tariffs.

The answer is that clean energy projects need to be run like a non-profit co-op, but the problem is that crony capitalists don’t like that and will do everything they can to prevent that from happening (’cause contrary to their propaganda, they do not like competition, especially if it’s from a non-profit).

More on the demise of Hoku Materials:

Hoku deregisters with SEC

Hoku downward spiral

Hoku restructuring

Hoku to be finished off

U.S. tariffs nail in the coffin for Hoku

Good & bad news for Hoku

Hoku better get its rear in gear

Hoku beggars China

Hoku going under

Hoku begs

More trouble for Hoku

Hoku starts operations(?)

Hoku ended before it starts

Investigation puts the brakes on Hoku

Hoku ongoing delays

Hoku turning to China

International

World War 3, East Asian Front: North Korea isues new warning!

07 May 2013 (21:22 UTC-07 Tango 06 May 2013)/26 Jumada t-Tania 1434/17 Ordibehest 1391/28 Ding-Si (3rd month) 4711

  No sooner had the Key Resolve and Foal Eagle joint military exercises against the DPRK been ended than the U.S. imperialists and the south Korean puppet forces restarted shelling drills targeted against the areas of the north side from the waters off Paekryong and Yonphyong islands in the West Sea of Korea from May 5.
    The prevailing situation goes to prove that they are persisting in their premeditated military provocations in a bid to push the present state of war to an actual war.
    What matters is that such military provocations are timed to coincide with the U.S.-south Korea joint anti-submarine exercises started in the West Sea of Korea from May 6 and the dangerous U.S.-south Korea joint naval war drill to be staged in the East Sea of Korea from about May 10 even with the super-large nuclear-powered carrier Nimitz involved.
    The Command issued the following order to those units under it in view of the prevailing situation:
    KPA units in the southwestern sector of the front will take immediate counteractions in case even a single shell drops over the territorial waters of our side due to the enemies’ provocative shelling in the southwestern waters.
    In case the enemies recklessly counter our counterstrikes, all striking forces will turn the five islands in the West Sea of Korea into a sea in flames with prompt actions of units of the rocket forces deployed in the southwestern sector of the front.
    All the units and sub-units under the KPA Command in the southwestern sector of the front will simultaneously start military actions, in line with the operation plan finally ratified by the KPA Supreme Command, by the future order.
Korean People’s Army (KPA) statement

International

World War 3, East Asian Front: False Flag attack on Japanese Prime Minister?

28 April 2013 (12:19 UTC-07 Tango)/17 Jumada t-Tania 1434/08 Ordibehest 1391/19 Bing-Chen (3rd month) 4711

Prime Minister Shinzo Abe is OK after his four car convoy ended up in a pile up at a toll booth in Tokyo.  The car he was in was sandwiched between escort vehicles after the toll bar failed to lift, forcing the lead convoy vehicle to screech to a halt.

Two policemen were injured.  Abe was on his way to a meeting with families of people who say their loved ones were kidnapped by North Korea.  He was able to attend the meeting.

International

World War 3, East Asian Front: Military activity in North Korea & China!

28 April 2013 (00:15 UTC-07 Tango)/17 Jumada t-Tania 1434/08 Ordibehest 1391/19 Bing-Chen (3rd month) 4711

South Korean media reporting that unnamed ROK military sources say the DPRK is building up air and ground units in the area around Nampho.

Nampho is a port city on the west coast of North Korea.  Some think it could be another war game by the North.

Also, the Washington Free Beacon reporting increased military activity by China, along the border with North Korea.  There are also reports that China is prepping for large numbers of refugees from Korea.

 

International

World War 3, East Asian Front: South Korea caves on KIR!

27 April 2013 (14:05 UTC-07 Tango)/16 Jumada t-Tania 1434/07 Ordibehest 1391/18 Bing-Chen (3rd month) 4711

The Republic of Korea has given up the ghost on the Kaesŏng (Gaesong) Industrial Region (KIR).  South Korea is now withdrawing more than a hundred of their workers (the last) from the commie workers for capitalist corporations work camp.

The DPRK refused to talk to ROK officials about the KIR, because ROK refuses to meet DPRK’s demands.

The Democratic People’s Republic of Korea declared the ceasefire agreement over, and on 09 April shut down North Korean activities on the KIR.  53000 North Korean slave wage workers walked out, refusing to go back to work for the capitalist pigs!

At first the United States and South Korea said the move would economically hurt North Korea, but it’s actually the cronie capitalists that are in pain.

South Korean businesses have been begging their capitalist banks to suspend their loan payments, and just three days ago the ROK government agreed to give financial aid to those poor down trodden capitalist companies.

International, U.S.

World War 3, East Asian Front: Japan shoots self in foot, says there was no World War 2, while prepping for invasions with U.S.!

24 April 2013 (13:04 UTC-07 Tango)/13 Jumada t-Tania 1434/04 Ordibehest 1391/15 Bing-Chen (3rd month) 4711

Japanese Prime Minister Shinzo Abe keeps pissing off China and Korea, this time saying there is “…no clear definition of an invasion internationally…” by Japan at the beginning of what is called the Second World War.

In the mid 1930s to early 1940s Japan invaded mainland east Asia from Russia, Manchuria, China all the way down to Vietnam (Indochina).  Now Japanese leaders are denying it ever happened!

On top of that the Japanese government is considering issuing new school books which will claim many islands lying between Japan, Korea, China and Russia, to belong to Japan, as well as change the history of the Second World War to claim Japan was fighting a defensive war from the start. (most Japanese don’t even know about their attack on Pearl Harbor).

This move will destroy efforts to create a military pact between Japan and South Korea against North Korea.

Prime Minister Abe, just yesterday, threatened China with military action if any Chinese set foot on any of the islands Japan considers theirs: “….we have made sure that if there is an instance where there is an intrusion into our territory or it seems that there could be landing on the islands then we will deal with it strongly.”

Today, Japan’s Kyodo news agency revealed that Japan has conducted war games with U.S. forces on an island off the California coast.  The scenario involved Japan invading and capturing an island!

Here’s what U.S. officials said about the whole thing: “Our position is that we don’t take a position on territorial issues. In the case of Japan……we do have certain treaty obligations with Japan that we would honor.”-U.S. Army General Martin Dempsey

International, U.S.

World War 3, East Asian Front: South Korea and China establish hotline over North Korea!

24 April 2013 (12:28 UTC-07 Tango)/13 Jumada t-Tania 1434/04 Ordibehest 1391/15 Bing-Chen (3rd month) 4711

“The U.S. misjudgment will lead it to its biggest historical defeat.   The present U.S. administration should be serious about the lesson drawn by its predecessors who said the Korean war in the 1950s was a war of mistake that was fought in a wrong place at a wrong time against wrong opponent.”-Korean Central News Agency

South Korea and China have set up a 24 hour communication hotline, to facilitate unified policy against North Korea.

U.S. Army General Martin Dempsey: “….the Chinese leadership is as concerned as we are with North Korea’s march toward nuclearization and ballistic missile technology, and they have given us an assurance that they are working on it….” 

 

Business/Economics, International, U.S.

World War 3, East Asian Front: North Korea is worth $9.7 trillion USD!!! Now you know why The U.S. is war mongering over the DPRK!

23 April 2013 (21:14 UTC-07 Tango 22 April 2013)/12 Jumada t-Tania 1434/03 Ordibehest 1391/14 Bing-Chen (3rd month) 4711

“In my analysis North Korea could survive for the next hundred years just by exporting their underground resources….”-Yang Moo-jin, University for North Korean Studies

In August 2012, the South Korean based think tank,  North Korea Resource Institute, estimated that the DPRK is worth almost as much as $10 trillion USD, because of what lies underground.  This estimate is $4 trillion higher than the estimate given by Korea Resources Corporation back in 2010.

The estimate has gone way up because prices for mineral resources (like gold) have gone up.  Put in another way, North Korea is worth 21 times what South Korea is worth, mineral resource wise.

According to a 2011 article by EastAsiaForum, the Democratic People’s Republic of Korea has some of the World’s largest deposits of coal, iron ore, magnesite, gold ore, zinc ore, copper ore, limestone, molybdenite, and graphite.

Recently I heard that North Korea is third in the world for rare earth minerals (China is first and South Korea is second), you know, that stuff in the dirt that’s become worth a lot of money because it’s used in all you all’s cell phones.

China has invested big time in helping North Korea develop its mining industry, which would seem to dictate that China continue backing up North Korea against the United States.

The reason why North Korea is so poor is because of decades of U.S. led economic sanctions.  Those sanctions are part of the reasons why the DPRK’s mining industry operates at only 30% capacity.

So all that rhetoric from the U.S., Republic of Korea and Japan about not allowing North Korea be a nuclear power is just False Flag bullshit!  As usual it’s about controlling natural resources.

 

 

 

 

International, U.S.

World War 3, East Asian Front: North Korea moves two more Scud ICBMs!

21 April 2013 (21:59 UTC-07 Tango 20 April 2013)/10 Jumada t-Tania 1434/01 Ordibehest 1391/12 Bing-Chen (3rd month) 4711

While the United States was freaking out about the Boston Bombings, on 16 April 2013 North Korea moved at least two more mobile short range Scud ballistic missiles to South Hamgyeong Province on its east coast.

That’s according to Yonhap News Agency, who quoted unnamed South Korean military officials.

The Democratic People’s Republic of Korea has three versions of the old Soviet Scud, based on reverse engineering.  The Hwasong-5 and 6 are short range, but the Rodong-1 is claimed to be able to hit Japan.

At the beginning of April, the DPRK moved two medium range Musudan missiles to Wonsan, and at least seven Scud type mobile missile launchers were dispersed between Wonsan and South Hamgyeong.

Japanese media had also reported that possibly two long range KN-08 ICBMS were moved as well, they can hit the western United States.

The revaluation that North Korea moved two more Scud type missiles this week came a couple of days after Republic of Korea Chief of National Security, Kim Jang-soo, stated that there was no evidence of North Korean missile activity!

International, U.S.

World War 3, East Asian Front: North Korea issues demands!

18 April 2013 (01:49 UTC-07 Tango)/07 Jumada t-Tania 1434/29 Farvardin 1391/09 Bing-Chen (3rd month) 4711

Policy Department of the National Defence Commission (NDC) of the Democratic People’s Republic of Korea:

First, they should immediately stop all their provocative acts against the DPRK and apologize for all of them.
    As the first phase, they should take measures of retracting the UN Security Council’s “resolutions on sanctions” cooked up under absurd pretexts.
    They should bear in mind that doing so would be a token of good will towards the DPRK.
    The south Korean puppet forces should promptly halt all anti-DPRK rackets being kicked up by them, linking their own mishaps such as the Cheonan warship sinking incident and the “March 20 hacking case” to the north.
    Second, they should give formal assurances before the world that they would not stage again such nuclear war drills to threaten or blackmail the DPRK.
    Dialogue can never go with war actions.
    Frequent nuclear war maneuvers will only strain the situation and totally block the way of dialogue.
    The army and people of the DPRK will not be taken in by sophism that the nuclear war drills being staged under its very nose are annual and defensive military actions for defending the U.S. and guaranteeing the security of south Korea.
    Third, they should make a decision to withdraw all nuclear war means from south Korea and its vicinity and give up their attempt to reintroduce them as their immediate duty.
    They should bear in mind that the denuclearization of the Korean Peninsula can begin with the pullout of the nuclear war means introduced by the U.S. and this may lead to the global denuclearization.