Commentary: IEEFA Versus the IEA FacebookTwitterLinkedInEmailPrint分享Independent Australia:The same claims of bad forecasts are also occasionally made about the Institute for Energy Institute for Energy Economics and Financial Analysis (IEEFA) — an independent group of highly experienced analysts, who argue that the coal industry is in structural decline. One way of resolving this tension is to assume that the truth lies somewhere in the middle. But, of course, a far better way is to check their past predictions against observed reality and, by this measure, IEEFA is consistently very close and the IEA is somewhere out in the outer rings of Saturn.In a world that has come to depend so strongly on energy, bad forecasts carry disastrous consequences for financial markets, international relations, war and peace, employment, social planning and, of course, climate change.Which begs the question: why is the IEA so far off the mark? The answer might lie in their Coal Industry Advisory Board (CIAB), which was set up by the IEA to inform the agency about the future of the coal industry. However, rather than being made up of experts, like analysts, economists and futurists, the Coal Industry Advisory Board is made up exclusively of CEOs and very senior managers for companies that trade in coal, sometimes exclusively.The Australian coal industry has four representatives on the advisory board, of whom Greg Everett, the CEO of Sunset Power, who owns the Vales Point Power Station at Lake Macquarie, is one. Vales Point spits out about as much carbon as Jamaica.Peter Freyberg is the Head of Coal Assets at Glencore, which is the biggest thermal coal mining company in Australia. Glencore has been accused of violating Indigenous rights and poisoning rivers at the McArthur River Mine in the Northern Territory. Glencore also happens to be very good at avoiding corporate tax.James Palmer is the “Asset President, Coal” at BHP Billiton. Although BHP was the largest coal producer in Australia, BHP’s strategy is to get out of coal, making Palmer’s job very hard.The last representative is Jeyakumar Janakaraj, the CEO of an outfit you may have heard of — Adani. Adani, of course, wants to build a massive toxic coal mine in Queensland and ship it through the Great Barrier Reef, with a free water licensce in drought-stricken Queensland. Which begs the question: why does the guy who runs the company get to help write the most authoritative report in the world on the future of the coal industry? Nice work if you can get it.In defiance of the laws of thermodynamics, the information system driving decision-making around energy looks like a closed system, where the coal industry tells the IEA what it thinks demand for coal will look like in decades to come, the IEA tells decision-makers that coal will be around for decades, and the companies get to claim that the IEA supports their arguments. A generous way to look at it would be to assume that the industry’s subconscious biases are seeping into the World Energy Outlook. A more sinister view is that the industry is running a self-protection racket.You would think that Department Secretaries, the Planning and Assessment Commission and the Queensland Land Court would research who writes these reports and work out whether their claims stack up. Unfortunately, given our tendency to wrongly attach weight to opinions coming from perceived authorities, communities challenging coal, oil and gas projects have to argue why their claims are more justifiable than the World Energy Outlook.The reality is that, as IEEFA has repeatedly pointed out, coal is on the way out. The technology to power 100 per cent of the entire world with the power of the sun, the wind and the waves, is plummeting in cost and already exists today. What this means for coal-affected communities is that we deserve to be told the truth and to very quickly create a vision for the future of our communities. For financial institutions and companies related to fossil fuel companies, they need to develop a strategy to reduce their exposure to fossil fuels, starting immediately. Decision-makers need to take the WEO reports with a degree of caution. Governments at all levels need to significantly increase their ambition and action to get to a 1.5oC world. Citizens like us need to do what we do best and ramp up our efforts to force decision-makers to speed up the transition.Last year, dozens of companies and governments moved away from coal because of people-powered movements and campaigns. It is far from enough, but we are getting bigger and better at winning. It’s time to get vested interests out of energy analysis. Those who stand in the way of progress have been warned.More: The IEA’s World Energy Outlook and its coal bias
RelatedPosts NPFL: Coach Dogo leaves Sunshine Stars NFF sanctions NPFL 2019/2020 final table Nasarawa United snaps midfield maestro Ossy Martins scored the decisive goal as Rivers United edged past Nasarawa United 1-0 in the Nigeria Professional Football League on Wednesday. Martins reacted quickest to prod home a header after Bakary Bamba had seen his spot kick in the 14th minute saved by the Nasarawa United goalkeeper, Folarin Abayomi. The Port Harcourt club were not at their free-flowing best on Wednesday at the Yakubu Gowon Stadium and struggled to carve out chances against the plucky visitors who were unlucky not to score in the 22nd minute. Esosa Igbinoba curled a 25 yard volley sweetly and with the Rivers United goalkeeper, Darlington Ovunda, completely beaten, the shot crashed against the post. Rivers United never really controlled the game as Nasarawa United continued the probe and knock on the door in search of the equaliser. The hosts however came inches close to claiming the second goal when second half substitute, Christian Weli, fired just wide from inside the box after some impressive work by Martins on the flanks. “It was a good match. Both teams played well but we had some hard luck so I congratulate Rivers United for the match,” Nasarawa United midfielder Igbinoba said after the game. Technical Manager of Rivers United, Stanley Eguma, also offered his post-match comments after the game. “It was a very difficult match but I am pleased we won. We got our tactics right,” Eguma told the club’s website. Rivers United have now moved joint top of the NPFL standings with only goals difference separating them from the leaders, Plateau United, who have amassed 24 points from 13 games this season. The Pride Of Rivers will next face Dakkada FC on Sunday as the competition enters Match Day 14.Tags: Nasarawa UnitednpflOssy MartinsRivers United
The 125,000-euro daughter of Kodiac was backed in to 9-10 favouritism for the Irish Stallion Farms EBF Maiden and travelled strongly near the pace. After taking the lead inside the final quarter-mile, the market leader briefly looked in trouble when Know swooped down the outside, but Atzeni asked Ger Lyons’ youngster to quicken again and she obliged to triumph by three lengths. Press Association Lyons won this race with Ainippe 12 months ago, and said: “We’ve decided to go the same route as Ainippe with her and as winners’ races are few and far between, the Group 3 Curragh Stakes is the next obvious race. “She’s not over-big but shows plenty of speed and is very professional – she’s a little bullet.” That initiated a brace for Lyons, completed when Cape Wolfe (3-1) landed his hat-trick in the shadows of the post in the Follow Naas Racecourse On Facebook Race. Laganore showed her appreciation for a drop in distance by breaking her duck in the Panoramic Restaurant Maiden. Having finished fifth in maidens over seven furlongs and a mile, Tony Martin’s 8-1 shot finished strongly over six furlongs and saw off Glimmer Of Peace by a length and a quarter. Burren View Lady’s comeback over seven furlongs at Roscommon offered some promise but she has always been more effective as a sprinter and proved as much by winning the ISS HR Services Handicap as a 16-1 chance. Beechmount Whisper looked like finally gaining just reward for a string of placed efforts when shooting clear in the www.naasracecourse.com Apprentice Handicap but he was swamped in the closing stages, with Regal Power (12-1) coming out on top. Kings Ryker (11-4) didn’t stay a mile and a quarter on his most recent outing heading into the Naas Racecourse On Facebook Handicap, but Shane Foley was able to set his own fractions in the mile contest and repelled Hurricane Cass by half a length. Andrea Atzeni made the trip to Naas and was rewarded with a victory on the impressive newcomer Bear Cheek.
Former WWE wrestler, manager and later television star “Luscious” Johnny Valiant has died.The 71-year-old – whose real name was Thomas Sullivan – was hit by a pick-up truck while crossing a road in his hometown in Pennsylvania on Thursday.He was pronounced dead at the hospital. Mr Valiant wrestled alongside his stage brother, Jimmy Valiant, in the 1970s. After his career in the ring, he managed wrestlers such as Hulk Hogan and Brutus Beefcake.He later went on to star in such television series as The Sopranos and Law & Order.According to local reports, Mr Valiant was hit as he ran across a road in North Hills, a suburb of Pittsburgh, in the early hours of Thursday. He was not at a crossing point.