Friday, 13 December 2013

Climate News. Coldest temperature ever recorded on earth. Chinese renewable industry collapsing.

                   Aljazeera reports that the American Geophysical Union meeting in San Francisco this month heard that the coldest temperature ever recorded on earth was found to be minus 94.7Celsius.     Also snow has been recorded in Cairo for the first time for 112 years.  Record low temperatures have been recorded in various parts of the United States.  Early signs of the coming Little Ice Age(see earlier Abdussamatov post).                                

                 China`s renewable industry is collapsing.  Pat Adams and Brady Yauch report in the Canadian Financial Post of 9th December that China`s renewable industry is collapsing as a result of government central planning economic decisions ignoring the supply and demand of the market.  The solar panel industry has crashed with producers having soaring debt levels and idle factories..  Suntech which was the largest such company in the world has filed for bankruptcy in March. Shares have dropped 98 percent below their peak in 1997.   The Chinese wind turbine industry is also crashing.  Sinovel one of the world`s largest turbine manufacturers has gone from earning hundreds of millions of dollars to millions in loses that grow by the day. In some regions of China 50 percent of all wind turbines remain unconnected to the grid as their power is too expensive to connect them.  The flood of solar panels and wind turbines on the global market caused prices to plummet resulting in negative profit for many of the world`s largest producers.
     NOTE:  The UK renewable industry has taken a big hit with RWE power announcing in December that they no longer intend to develop one of the world`s largest offshore wind turbine arrays 9 miles off the North Devon coast, between Lundy Island and the Gower Peninsular.

No comments:

Post a Comment