long live MT the king of steel
@PITTSBURGH, Nov. 23, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE:X) announced today it will temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill. As the primary flat-roll supplier of the oil and gas industry, the idling is part of an on-going adjustment of steelmaking operations throughout North America to match customer demand.
Take-or-pay is about to kick in. Was the market merely anticipating this or were insiders haling out?
@SunCoke Contract Remains in Effect Despite Temporary Idling of U.S. Steel’s Granite City Operations
LISLE, Ill.--(BUSINESS WIRE)-- SunCoke Energy, Inc. (SXC) and SunCoke Energy Partners, L.P. (SXCP) issued the following statement in response to United States Steel Corporation’s announcement on November 23, 2015, that it intends to temporarily idle its blast furnace and related steelmaking operations in Granite City, Ill.:“SunCoke has a longstanding relationship with U.S. Steel and we expect they will honor our take-or-pay contract to supply coke to their blast furnace operations through 2025. We are committed to working with U.S. Steel during this temporary idling.”Separately, SXC provides certain commercial protections to SXCP under an omnibus agreement that extends through January 2018.
Uh oh double whammy... Today Saskatchewan stated it also plans to significantly reduce dependence on coal-fired generation. And remember, this is the province that has made large strides towards carbon sequestration. Looks like a shift in the winds.
@Saskatchewan is signalling that it wants to be “a player in terms of responsible energy production” by reducing the province’s reliance on coal and adding wind and solar power. Crown utility SaskPower has announced plans to have up to 50 per cent of power come from renewable sources by 2030.he province is trying to reduce emissions by capturing carbon dioxide from a coal-fired power plant in Estevan. But the $1.5-billion facility at the Boundary Dam power plant has only been working 45 per cent of the time since it opened in October, 2014.
Step 1 is complete. Next step... takeover of MBT.TO by another Canadian telco like BCE. Let the bidding begin!
@TORONTO, Nov 23 (Reuters) - Canadian telecom company Manitoba Telecom Services Inc said on Monday it had agreed to sell its fiber-optic network Allstream, sending its shares up 5 percent as investors cheered the exit of a disappointing asset. The sale of the cash-flow negative national network - to U.S.-based Zayo Group Holdings Inc for C$465 million ($347.4 million) in cash - allows Manitoba Telecom to focus on a turnaround plan for its business selling phone, Internet and television connections in the central province of Manitoba. Allstream "was a chronic underperformer in terms of the expectations of the marketplace," Manitoba Telecom CEO Jay Forbes said in a telephone interview. "Expect an even more aggressive player in this Manitoba marketplace," he said.
Try to avoid posting cryptic messages. You compose in plain english, but many of your responses tend to wander off-topic. I'm guessing that turns many people off.
BFD... Up here in Canada, gas prices regularly fluctuate by as much as 10c/l in a 24hr period. That's roughly 40c/gallon for you non-metric pariahs.
Alberta's government has announced its climate change strategy. Coal-fired power generation will be phased out by 2030.
@Here are some of details of the plan according to a government news release: Coal and renewable energy Alberta will phase out all pollution created by burning coal and transition to more renewable energy and natural gas generation by 2030. Three principles will shape the coal phase-out: maintaining reliability; providing reasonable stability in prices to consumers and business; and ensuring that capital is not unnecessarily stranded. Two-thirds of coal-generated electricity will be replaced by renewables — primarily wind power — while natural gas generation will continue to provide firm base-load reliability.
Renewable energy sources will comprise up to 30 per cent of Alberta's electricity production by 2030.
I stand corrected about the ratio it is indeed 58%. But as you indicated this is far from a danger level. The debt ratings downgrades created a sense of distress that is unjustified. Brazil has the leeway to increase government spending to stimulate their economy at a time when the commodities slump is having a serious negative impact on it. Government policies can greatly affect the momentum and direction you refer to. Unfortunately, their government has chosen a path of austerity at exactly the wrong time. If Canada, with its significantly higher debt-to-gdp, is prepared to run deficits in an attempt to stimulate their economy (Canada is also impacted by commodities), then surely Brazil could opt to do so as well.
As I understand it, the main issue there is that government has adopted a policy of austerity, when in fact their strong financial footing offers the leeway to adopt stimulative fiscal policies. It's a case more of poor government decisions than a poor financial situation. Search the text I posted for some good insights.
Regardless of the adverse effect of poor government economic policy decisions and the negative impacts of a commodities slump, Brazil is not in financial trouble. Their debt to GDP ratio is well below 50% and the recent ratings agency downgrades of Brazil debt are a sham.
@Credit Rating Agencies and Brazil: Why The S&P’s Rating About Brazil Sovereign Debt Is Nonsense
Posted on September 12, 2015 by Devin Smith | 8 Comments Felipe Rezende Credit Rating Agencies and Brazil: Why The S&P’s Rating About Brazil Sovereign Debt Is Nonsense S&P has downgraded Brazil’s rating on long-term foreign currency debt to junk and lowered its long-term local currency sovereign credit rating to ‘BBB-‘ from ‘BBB+’.Brazil is a net external creditor, that is, though the federal government has debt denominated in foreign currency, it holds more foreign currency assets (figure 1) than it owes in foreign currency debt (figure 2). Brazil’s public sector can pay all of its long-term financial obligations denominated in foreign currency.
blah blah blah... still no direct response to my question. I suggest you don't post about an index if you don't understand the underlying reasons for its move up or down. over and out.
all this talk and yet you failed to answer my question. go figure.
Is the BDI at record lows because bulk dry shipping volumes are depressed or simply because shipping capacity is growing faster than demand growth? There's a big difference between the two situations.
It might but I think it's unlikely. When the fed raises rates next month, and then again in the months ahead will that change your view?
Whooppie doo. Last I checked 400ppm of CO2 in the atmosphere is not hazardous to human health. Hella, it takes approximately that concentration of one of the most deadly chemicals HCN to kill you. You must be a Sierra Club member huh.
Lovely...so an underground hacker society is doing a better job of intelligence gathering and dissemination than official agencies sucking up hundreds of billion of dollars to invade the public's privacy. It's high time this 'security' spam promulgated by government was exposed for the useless money sucking fraud it really is.