Coal

CSX Corp. Announces Second Quarter 2023 Results

Retrieved on: 
Thursday, July 20, 2023

JACKSONVILLE, Fla., July 20, 2023 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced second quarter 2023 operating income of $1.48 billion compared to $1.70 billion in the prior year period.

Key Points: 
  • JACKSONVILLE, Fla., July 20, 2023 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced second quarter 2023 operating income of $1.48 billion compared to $1.70 billion in the prior year period.
  • Second quarter 2022 results included a $122 million gain ($0.04/share after-tax) related to the Commonwealth of Virginia property sale agreement.
  • “The ONE CSX team continued to build momentum this quarter as our merchandise and coal businesses continued to demonstrate significant volume gains,” said Joe Hinrichs, president and chief executive officer.
  • CSX executives will conduct a conference call with the investment community this afternoon, April 20, at 4:30 p.m. Eastern Time.

When Greenland was green: Ancient soil from beneath a mile of ice offers warnings for the future

Retrieved on: 
Thursday, July 20, 2023

Evidence suggests that a forest of spruce trees, buzzing with insects, covered the southern part of Greenland.

Key Points: 
  • Evidence suggests that a forest of spruce trees, buzzing with insects, covered the southern part of Greenland.
  • Scientists have known for awhile that the Greenland ice sheet had mostly disappeared at some point in the past million years, but not precisely when.
  • In a new study in the journal Science,
    we determined the date, using frozen soil extracted during the Cold War from beneath a nearly mile-thick section of the Greenland ice sheet.

A world preserved under the ice

    • In July 1966, American scientists and U.S. Army engineers completed a six-year effort to drill through the Greenland ice sheet.
    • The drill site in northwest Greenland was 138 miles from the coast and underlain by 4,560 feet of ice.
    • Once they reached the bottom of the ice, the team kept drilling 12 more feet into the frozen, rocky soil below.
    • Extended cold glacial periods when the ice expanded quickly gave way to warm interglacial periods when the ice melted and sea level rose, flooding coastal areas around the world.

Dating ancient rock, twigs and dirt

    • To determine more precisely when the ice sheet melted away, one of us, Tammy Rittenour, used a technique known as luminescence dating.
    • Over time, minerals accumulate energy as radioactive elements like uranium, thorium, and potassium decay and release radiation.
    • Water from that melting ice raised global sea level at least 5 feet and perhaps as much as 20 feet compared to today.

Warnings for the future

    • During the MIS 11 interglacial, Earth was warm and ice sheets were restricted to the high latitudes, a lot like today.
    • Carbon dioxide levels in the atmosphere remained between 265 and 280 parts per million for about 30,000 years.
    • Over these 30 millennia, that level of carbon dioxide triggered enough warming to melt much of the Greenland’s ice.
    • Unless people dramatically lower the concentration of carbon dioxide in the atmosphere, evidence we found of Greenland’s past suggests a largely ice-free future for the island.

Turkey and Syria Earthquakes Drive Nearly Half of Economic Losses from Global Catastrophes in First Half of 2023: Aon

Retrieved on: 
Thursday, July 20, 2023

LONDON, July 20, 2023 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today published its Global Catastrophe Recap: First Half (1H) of 2023, revealing a preliminary estimate of $194 billion in economic losses stemming from global natural disasters. Notably, this is above the 1H average of $128 billion for the 21st century, the fifth highest on record and the highest since 2011.

Key Points: 
  • The earthquakes in Turkey and Syria during the first quarter of 2023 were responsible for nearly half of the total economic losses, estimated at $91 billion.
  • The event also became the deadliest global disaster since 2010 and the costliest in both countries' modern histories.
  • The event showed that regulation and enforcement of modern building codes are of critical importance to prevent material losses and fatalities.
  • "Despite the reality that communities globally remain at risk to catastrophes, only about 27 percent of economic losses this year have been insured.

Turkey and Syria Earthquakes Drive Nearly Half of Economic Losses from Global Catastrophes in First Half of 2023: Aon

Retrieved on: 
Thursday, July 20, 2023

LONDON, July 20, 2023 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today published its Global Catastrophe Recap: First Half (1H) of 2023, revealing a preliminary estimate of $194 billion in economic losses stemming from global natural disasters. Notably, this is above the 1H average of $128 billion for the 21st century, the fifth highest on record and the highest since 2011.

Key Points: 
  • The earthquakes in Turkey and Syria during the first quarter of 2023 were responsible for nearly half of the total economic losses, estimated at $91 billion.
  • The event also became the deadliest global disaster since 2010 and the costliest in both countries' modern histories.
  • The event showed that regulation and enforcement of modern building codes are of critical importance to prevent material losses and fatalities.
  • "Despite the reality that communities globally remain at risk to catastrophes, only about 27 percent of economic losses this year have been insured.

TRILLION ENERGY TO EXPLORE STRATEGIC ENERGY OPPORTUNITIES WITH MAJOR NATURAL GAS COMPANY  

Retrieved on: 
Thursday, July 20, 2023

Vancouver, B.C., July 20, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that it is exploring strategic energy opportunities in the Bulgaria and Turkiye region with a global energy trading company.

Key Points: 
  • Vancouver, B.C., July 20, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that it is exploring strategic energy opportunities in the Bulgaria and Turkiye region with a global energy trading company.
  • The parties have signed a non-disclosure agreement to share information on a confidential basis regarding potential new business opportunities to be advanced together, the aim is to advance the Vranino 1-11 exploration block in Bulgaria, which has coal bed methane natural gas exploration potential, as well as opportunities in Turkiye.
  • What precipitated the initiative is the mutual recognition that discovering new sources of natural gas in the European region is paramount, Trillion’s recent technological success in the Black Sea using long-reach directional drilling technology and Trillion’s Vranino 1-11 natural gas exploration block which has significant gas resources, and which remains unexplored by Trillion.
  • The natural gas trading company had 2022 revenue of >US$100 billion and is involved in buying, distributing, and selling natural gas.

DEC Showcased at Vietnam ETE & ENERTEC Expo

Retrieved on: 
Thursday, July 20, 2023

HO CHI MINH CITY, Vietnam, July 20, 2023 /PRNewswire/ -- On July 19, the 16th International Exhibition on Electrical Technology & Equipment (Vietnam ETE 2023), along with the 13th International Exhibition on Products, Technologies of Energy Saving & Green power (Enertec Expo 2023) opened at the Saigon Exhibition & Convention Center (SECC).

Key Points: 
  • HO CHI MINH CITY, Vietnam, July 20, 2023 /PRNewswire/ -- On July 19, the 16th International Exhibition on Electrical Technology & Equipment (Vietnam ETE 2023), along with the 13th International Exhibition on Products, Technologies of Energy Saving & Green power (Enertec Expo 2023) opened at the Saigon Exhibition & Convention Center (SECC).
  • With the momentous 10th anniversary of the proposal of the Belt and Road Initiative just over the horizon, this session of the ETE and Enertec Expo is marked by extraordinary significance.
  • Zhang Yanjun, Vice General Manager of DEC, was the only representative of Chinese enterprises to partake in the ribbon-cutting ceremony during the opening of the event.
  • Attending guests remarked that technologies, products and engineering projects are impressive and memorable, widely lauding the prowess of DEC in the energy sector.

Boliden's second quarter: Fire at Rönnskär and low grades in Mines

Retrieved on: 
Thursday, July 20, 2023

STOCKHOLM, July 20, 2023 /PRNewswire/ -- "It has been a challenging quarter with declining world market prices for metals as well as by-products, major planned maintenance shutdowns, low grades in Mines and, in addition, the fire at Rönnskär, which have together negatively impacted our earnings. However, our financial position remains strong and, with regard to Rönnskär and the Tara mine, which has been placed under care and maintenance, we have initiated measures to manage the situation in the best possible manner," says Mikael Staffas, President and CEO.

Key Points: 
  • Operating profit for Boliden Mines decreased to SEK 178 m (2,727), mainly due to lower metal prices and lower grades.
  • In the Boliden Area, milled volume was in line with the previous quarter and with last year.
  • Production of copper and zinc in concentrate was negatively impacted by low grades, while the production of precious metals in concentrate increased quarter-on-quarter.
  • However, significantly lower grades led to significantly lower production of copper and nickel in concentrate, both quarter-on-quarter and year-on-year.

Dramatic scale-up of critical materials and resources required for clean technologies this decade - Energy Transitions Commission

Retrieved on: 
Thursday, July 20, 2023

Building the new energy system will also result in some initial CO2 emissions - the first generation of any new clean technology has to be built using fossil fuel based energy.

Key Points: 

Dramatic scale-up of critical materials and resources required for clean technologies this decade - Energy Transitions Commission

Retrieved on: 
Thursday, July 20, 2023

Building the new energy system will also result in some initial CO2 emissions - the first generation of any new clean technology has to be built using fossil fuel based energy.

Key Points: 

WRA Report: Xcel Energy Can Meet 2030 Gas System Decarbonization Goals with Accelerated Adoption of Electric Appliances, Energy Efficiency Measures

Retrieved on: 
Wednesday, July 19, 2023

“We recommend that Xcel invest now in efficient electric appliances in buildings.

Key Points: 
  • “We recommend that Xcel invest now in efficient electric appliances in buildings.
  • By this measure, Xcel Energy, Colorado’s largest electricity and gas provider, must reduce emissions from its gas system by 28% from current levels in the next seven years.
  • Xcel must file a Clean Heat Plan by Aug. 1, 2023, that details the steps it will take to meet these emissions reduction goals.
  • This report’s key findings and recommendations include:
    Prioritizing replacing air conditioners, gas furnaces and boilers, and gas water heaters with efficient electric appliances.