Australia to block illegal offshore gambling websites – The Guardian

The nations communications watchdog will soon block access to illegal gambling websites hosted offshore.

Australians spend up to $400m on the sites each year and often have difficulties recouping their winnings or deposits.

The Australian Communications and Media Authority will investigate suspect sites and, if unable to take enforcement action, order internet providers to block them.

The chair of Acma, Nerida OLoughlin, said the new laws were a valuable additional weapon against illegal online gambling.

There is little to no recourse for consumers engaging with these unscrupulous operators, OLoughlin said on Monday.

She said 65 illegal companies had left Australia since Acma began enforcing new rules against offshore sites in 2017.

The communications minister, Paul Fletcher, said the sites accounted for about $100m in lost tax revenue each year.

Too often these offshore operators are defrauding Australians and their websites typically provide very few, if any, harm-minimisation controls, Fletcher said.

Acmas new powers fulfil one of three legislative recommendations that came out of a 2015 review of interactive gambling.

The review, overseen by former NSW premier Barry OFarrell, made 19 recommendations to the government.

It raised a number of problems with the sites, including a lack of Australian consumer protections, as well as links with organised crime.

Continued here:

Australia to block illegal offshore gambling websites - The Guardian

W&T Offshore (WTI) Q3 Earnings Beat on Higher Production – Yahoo Finance

W&T Offshore, Inc. WTI reported third-quarter 2019 adjusted earnings (excluding one-time items) of 13 cents per share, beating the Zacks Consensus Estimate of 1 cent but declining from the year-ago figure of 30 cents.

Meanwhile, quarterly revenues decreased to $132.2 million from $153.5 million a year ago. Moreover, the top line missed the Zacks Consensus Estimate of $134 million.

The better-than-expected earnings were supported by higher production volumes, partially offset by a decline in average realized prices and rise in lease operating expenses.

W&T Offshore, Inc. Price, Consensus and EPS Surprise

W&T Offshore, Inc. Price, Consensus and EPS Surprise

W&T Offshore, Inc. price-consensus-eps-surprise-chart | W&T Offshore, Inc. Quote

Overall Production Rises

Total oil equivalent production averaged 41,149 barrels of oil equivalent per day (Boe/d), which rose 13% from 36,508 Boe/d in the year-ago quarter. Oil production was recorded at 1.7 million barrels of oil (MMBbls), flat year over year. Natural gas liquids output totaled 283 MBbls, lower than 318 MBbls a year ago. Natural gas production of 10,606 million cubic feet (MMcf) in the reported quarter was higher than 7,939 MMcf in the year-earlier period. Of the total production in the quarter, 53% comprised liquids.

The rise in production was supported by the companys Mobile Bay acquisition from Exxon Mobil Corporation XOM, which added 74 million BOE of net proved reserves to its portfolio. Moreover, W&T Offshore brought online its Gladden Deep first exploration well, which achieved an initial output rate of around 4,600 gross Boe/d.

Realized Prices Decline

The average realized price for oil during the third quarter was $59.24 a barrel, lower than the year-ago level of $69.57. The average realized price of NGL softened to $15.45 from $31.70 per barrel in the prior year. The average realized price of natural gas during the September quarter was $2.23 per thousand cubic feet, down from $2.85 in the comparable period last year. Average realized price for oil equivalent output declined to $34.56 per barrel from $45.32 a year ago.

Operating Expenses

Lease operating expenses increased to $12.46 per Boe in the third quarter from $11.14 a year ago.

Capital Spending & Balance Sheet

W&T Offshore spent $188.1 million capital through the September quarter on oil and gas resources.

As of Sep 30, 2019, the company had approximately $41.7 million in cash and cash equivalents. It also had $137.8 million remaining under its revolving bank credit facility. The company had $719 million in long-term debt.

Guidance

W&T Offshore expects production for fourth-quarter 2019 within 49,300-54,500 Boe/d. For the full year, its production view has been marginally lowered to 39,800-41,100 Boe/d.

This offshore oil and gas explorer expects lease operating expenses through 2019 between $187 million and $193 million. For the fourth quarter, the metric is expected in the range of $57-$62 million.

Full-year 2019 capital expenditures, excluding acquisitions, are expected in the range of $130-$150 million.

Zacks Rank and Stocks to Consider

Currently, Jagged Peak has a Zacks Rank #4 (Sell). Some better-ranked players in the energy space are Lonestar Resources US Inc. LONE and Contango Oil & Gas Company MCF, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of todays Zacks #1 Rank (Strong Buy) stocks here.

Lonestars 2020 earnings per share are expected to rise 77% year over year.

Contango Oil & Gas bottom line for the current year is expected to rise around 87% year over year.

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W&T Offshore (WTI) Q3 Earnings Beat on Higher Production - Yahoo Finance

Taiwan doubles next-stage offshore wind ambition to 10G – Recharge

Taiwan doubled its previous stated plans for the next stage of its offshore wind build-out with a goal to add 10GW of extra capacity from 2026 to 2035.

Taiwans President Tsai Ing-wen and its Ministry of Economic Affairs (MOEA) on Tuesday unveiled a new target for development in the Taiwan strait. The island had only previously laid down ambitions for 5GW after 2025 without specifying a timeframe.

The President made the announcement during her speech at the inauguration ceremony for the islands first offshore wind project, Formosa 1. She urged the MOEA to quickly establish a plan for the 10GW capacity for the next 10 years.

Later, minister of economic affairs Shen Jong-Chin confirmed the figure, adding that the ministry is planning to allocate 1GW per year for the 10GW goal.

The detailed plan of allocation measures will be released in the first quarter next year, the minister said.

The bidding prices of the 10GW projects are likely to lower than the average retail power rate, MOEA said in a statement.

Already getting a head start among Asian countries for offshore wind development, Taiwan should continue moving forward and plan in advance, the statement added.

Last year Taiwan held two rounds of offshore wind allocation to award seven companies a total 5.5GW capacity for its initial stage of large-scale development between 2019-2025. However, the island had yet to make clear the post-2025 roadmap and the rules for its third-round offshore project allocation.

In September, the MOEA announced it would postpone the release of a first draft of the allocation plan from the end of August to early next year due to various disagreements among project developers and the supply chain over allocation rules and localisation requirements, Recharge previously reported.

Shen today revealed that the energy regulator is considering a two-step selection process, in which the ministry would first pick eligible developers based on their localisation commitments, followed by price-competitive auctions.

Offshore wind has become a live issue in the run-up to Taiwan's next presidential election in January, with Tsai more ambitious than her rival over wind at sea.

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Taiwan doubles next-stage offshore wind ambition to 10G - Recharge

Offshore wind projects to be part of marine activity zones strategy – Irish Examiner

"Strategic marine activity zones" may be designated in coastal and offshore waters as part of the Government's new approach to marine planning.

Offshore wind projects will receive "preference" in marine areas zoned for this, a new draft framework published this morning by Minister of State for Housing Damien English states.

Renewable energy projects, commercial fishing, mineral extraction, aquaculture and other competing interests, including tourism, will be covered by a new single system of consent under long-promised revised legislation.

Ireland is actually one of the largest EU states if over 490,000 square kilometres of seabed off a 7,500km coastline is taken into account, the draft framework notes.

Mr English has released the States first such framework in draft form today (tues) for a three month public consultation period.

Ireland and other EU coastal states are obliged to establish marine spatial plans by 2021 under an EU directive, and Mr Englishs department has been assigned as lead in this.

The national marine planning framework aims to take a co-ordinated and coherent approach to management of our most important resource, it says.

The States Harnessing our Ocean Wealth strategy, has already set two economic targets doubling the value of ocean wealth to 2.4% of gross domestic product by 2030, and increasing the turnover of the ocean economy to exceed 6.4bn by 2020.

Academics at NUI Galways Socio-Economic Marine Research Unit have reported that Irelands ocean economy had a turnover at 5.5 billion in 2017.

One single national marine plan will apply to Irelands entire maritime area, extending from mean high water mark on the coast to the 200 mile limits of the exclusive economic zone and Continental Shelf.

However, the draft framework says the Government is committed to preparation of regional or sub-national plans in future marine spatial policy cycles

The framework will be underpinned by the Governments Marine Planning and Development Bill, which will replace the existing cumbersome system of foreshore leases and licenses, and will extend beyond territorial waters.

Friction between offshore renewable energy developments and fishing has already taken place in British waters, and the framework aims to plan for competing interests at a time of growing global pressure on marine resources.

Public consultation has already taken place on a baseline report, which elicited 173 responses, and a strong consensus emerged that a hybrid approach to marine spatial planning, involving zoning for specific activities or zoning certain areas was preferable to full zoning of all Irelands seas.

Adoption of the final marine planning framework is expected to be late 2020. Closing date for submissions on the draft is February 28, 2020.

The department says it will not replace or remove existing regulatory regimes or legislative requirements governing marine sectoral activities, but public bodies will be obliged to take its objectives into account .

When the new legislation is passed, consents will be issued by two departments, depending on remit the Department of Housing, Planning and Local Government, and Communications, Climate Action and Environment.

Former Environmental Protection Agency (EPA) director Michel Cinnide, who is now co-chair of environmental organisation Corrib Beo, welcomed publication of the draft framework.

However, he has questioned why the States Marine Institute or a similar experienced body is not being established to provide a secretariat for the plan.

Mr Cinnide also warned that the plan needs to be given adequate resources, and the department needs to ensure widespread consultation at both regional and local level before final agreement.

This plan will stand or fall on how well it works in individual coastal bays, he said.

Regional public events on the draft marine planning framework will open on November 21st in Limerick, continuing to Westport, Co Mayo (Nov 26), Galway (December 2nd), and Tralee, Co Kerry (December 12th), with further events in Killybegs, Co Donegal, Bantry, Co Cork, Dungarvan, Co Waterford, Dublin and Wexford.

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Offshore wind projects to be part of marine activity zones strategy - Irish Examiner

Review launched into onshore impact of offshore wind farms – The Telegraph

Norfolk and Suffolk has some of the most beautiful, valued and recognised wetland and onshore coastal habitats. It would be madness to damage these special environments by bringing renewable energy onshore in an environmentally damaging way.

Campaigners say the southern North Sea is becoming the countrys offshore energy powerhouse with up to ten wind farms proposed.

While campaigners are not opposed to renewable energy at sea, they are concerned that planning permission for additional vast onshore plants are being given the greenlight because it deemed essential power network infrastructure.

Fiona Gilmore, of SEAS, the Suffolk Energy Action Solutions group, said residents fear major onshore plant was being rushed through.

We are totally in favour of offshore renewables and wind energy but the delivery of that energy needs to be implemented in a responsible way, avoiding unnecessary devastation, she said.

Scottish Power Renewables [SPR] is planning to build a concrete jungle on virgin, coastal countryside to bring offshore wind energy onshore to connect to the Grid.

SPR has not been put under any pressure to look for existing brownfield sites and there is no impetus on firms to develop offshore wind energy transmission infrastructure solutions.

We need to be world leaders in the delivery of green energy not just in terms of producing that energy, otherwise that energy is no longer green.

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Review launched into onshore impact of offshore wind farms - The Telegraph

Trump group to pay Scottish Government legal fees in offshore windfarm battle – HeraldScotland

The Trump Organisation is topay the Scottish Government 225,000 to cover its legal bills following along-running court battle over an offshore wind farm near his Scottish golf resort.

The settlementeffectively brings to a close severalyearsof court disputes between the US president's firm and Scots authorities, reported by The Scotsman.

Trump claimed the European Offshore Wind Deployment Centre (EOWDC) would spoil the view from Trump International Golf Links near Balmedie.

READ MORE: Donald Trumps application for 550 homes at Aberdeenshire golf resort given green light

His attempts to overturn planning permission for the project were repeatedly dismissed in Scottish courts during a three-year legal campaign, which led to the case being rejected by the Supreme Court in 2015.

During that time it saw Trump - prior to becoming a presidential candidate - press his case before a Holyrood committee in 2012 as well as start a high-profile disputewith the then-first minister Alex Salmond.

In February, the Court of Session determined that the Trump Organisation should pay Scottish ministers the legal bills incurred over the course of the company's unsuccessful legal fight.

READ MORE:Boris Johnson under pressure to protect whisky from Donald Trump

Since becoming president, Trump has officially delegated company management to his sons Donald Jr and Eric Trump.

A total of 11 turbines make up the EOWDC site off the Aberdeen coast, which includes some of the most powerful wind turbines in the world.

A Scottish Government spokesman said: "We can confirm that settlement has now been reached - and this has removed the need for the expenses to be determined by the auditor of the Court of Session.

"Expenses amounting to 225,000 will now be paid to Scottish ministers by the petitioners."

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Trump group to pay Scottish Government legal fees in offshore windfarm battle - HeraldScotland

TenneT Issues UXO Survey and Clearance Tender – Offshore WIND

Dutch transmission system operator TenneT TSO B.V. has issued a tender for offshore unexploded ordnance (UXO) survey, identification and clearance at the zones identified in the Offshore Wind Energy Roadmap 2030.

The tender covers the 700MW Hollandse Kust Noord, the 700MW Hollandse Kust (west) Alpha, the 700MW Hollandse Kust (west) Beta, the 700MW Ten noorden van de Waddeneilanden, the 2GW IJmuiden Ver Alpha, and the 2GW IJmuiden Ver Beta. The contract will run from June 2020 to December 2029.

The tender will close on 16 December. TenneT plans to dispatch invitations to tender or invitations to participate to selected candidates on 27 January, 2020.

As the designated offshore grid operator for the future wind farms, TenneT is responsible for the engineering, procurement, installation, construction, and operation of the connections between the offshore wind farms, through converter platforms, to the onshore network.

The Offshore Wind Energy Roadmap 2030 sets out plans for the development of additional 7GW of offshore wind capacity in the Dutch North Sea between 2024 and 2030.

The tenders for the new wind farm zones will be opened from 2021 onward, starting with the Holland Kust (west) zones.

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TenneT Issues UXO Survey and Clearance Tender - Offshore WIND

Letters to the Editor: Expand offshore drilling bans – Charleston Post Courier

The states refusal to allow seismic testing off the South Carolina coast to prevent oil and gas drilling is a strong step in the fight for protecting our environment.

Representatives such as Gov. Henry McMaster and U.S. Rep. Joe Cunninghams opposition to seismic testing and offshore drilling show that this is not a partisan issue but a shared goal to protect our planet and way of life.

Efforts to protect the Atlantic Ocean from the Trump administrations move to open federal waters to drilling is vital, but we must also expand these restrictions. The Arctic National Wildlife Refuge is one of the regions in need of protection.

About the size of South Carolina, the Arctic refuge is home to numerous animals as well as the Gwichin people who depend on the ecosystem for their way of life.

The United States needs politicians like McMaster and Cunningham, as well as citizens, to stand up and fight to protect the ANWR by recognizing the negative biological, climatological and cultural impacts that oil exploration would have.

Although far from home, drilling in this region would accelerate the rate of climate change, which has already had a noticeable effect on the South Carolina coast.

The current administration cannot disregard scientific and societal support for protecting the Arctic any longer. The time to act is now.

FINNIAN CASHEL

Nassau Street

Charleston

Now is the time for Charlestonians to take action and vote for a new mayor. Charleston has changed for the worse over the past four years. The overgrowth and sprawl of downtown Charleston is awful. Charleston doesnt look like the charming place it once was. And what about the flooding, traffic and infrastructure issues that plague our city?

The only thing I know John Tecklenburg has done is take a trip to the Netherlands for a couple of weeks at taxpayers expense to learn how to deal with flooding.

But we do have a great alternative in Councilman Mike Seekings. He is the answer to what the city needs. I believe Mr. Seekings is a man of action and not just talk, which is evident by the way he turned around the CARTA program and by his 10-year service on City Council.

Lets elect a man who has the knowledge, experience and motivation to be a true leader for our city and who will bring about resolutions to the many issues that face us. Vote Mike Seekings for mayor on Nov. 19.

BARBARA E. BOYLSTON

Yeadon Avenue

Charleston

Santee Cooper is yet again proving its an unaccountable state agency operating in the shadows.

For years now, the state-owned utility promised time and again that South Carolina taxpayers wouldnt have to bear the burden of the nuclear debt. So much so that one of its Facts are Facts blog posts is titled, Taxpayers are not responsible for our debt. To quote the blog post, FACT: Our debt will be paid off through our revenues, and not by tax dollars.

Last month, Santee Cooper filed a lawsuit against the S.C. State Fiscal Accountability Authority and the S.C. Insurance Reserve Fund in an effort to recover the money lost in the V.C. Summer nuclear fiasco.

Both of these are state agencies. So that means Santee Cooper is seeking a bailout from the state.

Santee Cooper cant fix itself and will have to depend on every taxpayer in our state to dig itself out. Enough is enough.

LEE PADGETT

King Street

Georgetown

I and many others waited on poll returns at our Nov. 5 election watch party. Though Charleston Mayor John Tecklenburg was not reelected outright, it was victory nonetheless.

Tecklenburg was on fire. No amount of dark money, negative campaigning or distortion of the truth could overshadow the impassioned leader standing before us.Mayor Tecklenburg has displayed integrity, decency and a stellar record of community involvement.

On Nov. 19, I will be at the watch party for Mayor Tecklenburg, and once again, he will shine as the leader we deserve. Only this time, there will be no runoff. No more dark money mailers will be sent to our homes, or baseless accusations filling the airwaves.

This time, we will celebrate not only his victory but the defeat of those who sorely tried to dim his light. And we will be celebrating the growth of the seeds he and his team have planted, which will bear fruit for generations to come.

JACKIE MORFESIS

Gilmore Road

Charleston

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Letters to the Editor: Expand offshore drilling bans - Charleston Post Courier

US and China to ‘challenge UK’s top offshore spot’ – Windpower Monthly

To date, offshore wind deployment has largely been restricted to markets capable of shouldering the "substantial cost" of the technology, especially the UK and Germany, analysts at Fitch Solutions explained.

But growing economies of scale and technological innovation including rapidly increasing turbine ratings are driving down costs and making offshore wind more competitive in new markets.

This is especially the case in the US and Asia, with China in particular showing great potential for growth, the analysts added in a new research note.

Offshore wind is playing a growing role in states ambitions in the US, with an 18GW pipeline of projects, largely off the east coast, the analysts noted.

Fitch expects China to be the "fastest expanding and biggest" offshore wind power market by the early 2020s boosted by domestic companies showing improving capabilities. Both Dongfang Electric and CSIC Haizhung have unveiled 10MW turbines, for example.

However, China is building from a smaller base (4.6GW by the end of 2018, according to Fitch Solutions) than the UKs world-leading 7.9GW, according to Windpower Intelligence, the research and data division of Windpower Monthly, at the end of last year.

Fitch therefore forecasts the UK to "cement" its position as world leader in the medium term as it opens up its revenue support mechanism (the contract for difference scheme) to about 13GW of additional offshore wind projects in the next decade.

Despite offshore wind playing "an increasingly important role in the global wind power sector expansion over the coming decade", Fitch Solutions expects deployment of the technology to lag behind onshore wind.

With a 223.3GW project pipeline, onshore wind still accounts for the majority (64%) of wind farms in development, the analysts argue.

Global onshore wind capacity is also increasing from a much higher base, with the 504GW deployed by the end of 2018 accounting for 95% of all wind power installations.

Fitch argues that onshore winds quicker lead times mean that projects go from planning to commissioning at a much faster rate than offshore wind and that its project pipeline is refreshed more quickly

The analysts conclude that onshore wind will remain the main driver on wind capacity growth worldwide.

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US and China to 'challenge UK's top offshore spot' - Windpower Monthly

Louisiana’s pitch for more offshore energy revenue meets mixed reaction in Senate hearing – The Advocate

WASHINGTON Louisiana's pitch for a larger share of offshore oil and gas revenues for coastal projects, including efforts to protect Louisiana's receding coastline, was met with a mixed reaction during a U.S. Senate hearing Thursday.

Some members of the Energy and Natural Resources Committee appeared sympathetic to the case that Louisiana's efforts to combat coastal erosion rely on the funding and that, currently, Gulf States don't receive as much from federal land leases as states that benefit from inland revenues.

But members from states that have little or no energy production on federal land and water questioned the existing program and argued that they want to tap into the money, too.

U.S. Sens. Bill Cassidy, R-Baton Rouge, and John Kennedy, R-Madisonville, have partnered with Alaska Republican Sen. Lisa Murkowski to propose the Conservation of Americas Shoreline Terrain and Aquatic Life Act, an effort to update to the current energy revenue-sharing Gulf of Mexico Energy Security Act.

But the tepid response it received during Thursday's hearing could spell trouble for the proposal.

U.S. Rep. Joe Manchin, D-West Virginia, said he is still learning about how the government doles out oil and gas revenues to states, but he questioned why its not comparable to coal in his state.

We just treated all 55 counties the same, as if they were producing counties, he said.

Manchin said other states also have stake on federal lands.

Its owned by the people of the country, he said.

The latest push, led by Louisiana officials and others from the Gulf Coast, is aimed at putting states that have oil and gas production off their coastlines on the same footing as states that have drilling on federal lands on shore.

"What we're looking for is equity," Cassidy said during the hearing.

Under current federal law, Louisiana along with Alabama, Mississippi and Texas split about 37.5% of the money made from drilling off their coastlines. States that have energy production sites on federal land receive a 50% share.

The 12.5% difference is because a portion of offshore revenues go to the Land and Water Conservation Fund to provide money for national parks and forests. There is no requirement that inland energy revenues be used for those purposes.

Offshore oil and gas leases generated $4.8 billion last year for the U.S. Treasury the amount beyond what the states received compared to $3.4 billion under the inland mineral lands leases.

WASHINGTON Undeterred by government gridlock, representatives from the Gulf Coast descended on the nation's capital this week to lobby for a

Aside from being one of the largest offshore energy producers, Louisiana is faced with catastrophic land erosion that threatens coastal communities.

By law, any federal dollars Louisiana receives for offshore energy production goes to the states coastal restoration efforts that also help shore up the state's energy infrastructure.

Chip Kline, chairman of the Louisiana Coastal Protection and Restoration Authority, said during the hearing that the state's catastrophic land loss makes any dollar received from GOMESA crucial.

"We are being responsible with the dollars that are returned to us from oil and gas production," he said. "We are reinvesting these dollars back into our coast and building projects that protect our homes, our communities, our businesses, our environment, our way of life and the very infrastructure that continues to help fuel this nation."

But even that prompted "what about us" sentiment.

U.S. Sen. Mazie Hirono, D-Hawaii, described her states land loss, which threatens to consume the popular tourist destination Waikiki.

What kind of help do we get? Hirono said.

Kline explained the role that Louisiana plays in facilitating offshore energy production.

"Coastal states also provide and support the vast and extensive infrastructure needed to transport this energy across the nation, including highways, ports and pipeline corridors," he said. "All of these activities have helped generate hundreds of billions of dollars into the federal Treasury."

WASHINGTON Members of Louisiana's congressional delegation continue to push for the state to receive a bigger cut of the revenues from oil a

Louisiana received nearly $95 million in GOMESA revenue from the U.S. Department of the Interior earlier this year about $12 million more than it received a year earlier in its first large-scale payout of outer-continental shelf revenue in GOMESA's scheduled phase-in.

While Louisiana officials have been trying to build support for the proposal, it appears unlikely that the GOMESA update will advance very quickly.

Congress has fewer than two dozen working days left this year and faces a daunting list of issues that have not been resolved. The federal government is only funded through Nov. 21 the same day the National Flood Insurance Program is set to expire.

The United States-Mexico-Canada Agreement hasnt been ratified by Congress a year after Trump hashed out the trade deal, and members from both chambers and both political parties have identified several health care issues, including high prescription drug prices and surprise medical bills, among problems they want to tackle in the next two months.

Meanwhile, the Democrat-controlled House continues its impeachment inquiry of President Donald Trump with a goal of wrapping up by the end of the year.

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Louisiana's pitch for more offshore energy revenue meets mixed reaction in Senate hearing - The Advocate

‘Unexpected Opportunities For New Sailing Nations’ In Olympic Offshore Keelboat Class – Afloat

The tide is turning on the prospect of offshore sailing at the Olympics, says Seahorse Magazine as it proposes how the new keelboat category could make the sport more accessible than ever.

Last years introduction of the Mixed Two Person Offshore Keelboat for Paris 2024 provoked much discussion as to how it might transform the landscape for Olympic sailing with a number of Irish sailors who has previously never envisaged an Olympic campaign showing interest.

Now that more details have begun to emerge on the new event, Seahorses Matt Sheahan writes: It is becoming clearer that there are important new opportunities with significant benefits to both the sport and the Olympic Games.

Indeed, some now believe this new discipline could provide unexpected opportunities for new sailing nations, while paradoxically also having the potential to be more affordable than some existing Olympic classes.

The move is also being seen as having potential to open Olympic sailing up to a broader range of competitors.

Sheahan points out that the idea has been floated to hold qualifications in chartered boats already available on a regional basis.

World Sailings decision on equipment meeting the class key criteria may not be made until 31 December next year, or even as late as the end of 2023 in which case qualifying nations should have finalised their qualifications before the Olympic equipment is chosen, says World Sailing president Kim Andersen.

That way youre keeping a level playing field for competitors who will focus their efforts on actually getting a medal at the Olympics rather than gaining an advantage through having spent a lot of money and time procuring boats for which there is no demand back home.

Seahorse Magazine has much more on the story HERE.

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'Unexpected Opportunities For New Sailing Nations' In Olympic Offshore Keelboat Class - Afloat

On nation’s biggest proposed offshore wind farm, Dominion plans to fly solo – Virginia Mercury

Dominion Energy intends to move forward alone with developing the nations largest proposed offshore wind farm, an enterprise estimated to cost $8 billion, top utility leaders indicated to investors in a third-quarter earnings call Friday morning.

The project will be developed and owned by Dominion Energy Virginia, with regulated cost recovery subject to approval by the Virginia State Corporation Commission, said Dominion CEO, Chairman and President Tom Farrell during the presentation.

The companys approach bucks the dominant trend among East Coast utilities, which have otherwise partnered with private developers to add offshore wind energy to their portfolios.

New Jerseys Ocean Wind project, which at 1,100 megawatts should power half a million homes, is being developed by Danish company rsted, with efforts underway by New Jersey utility Public Service Enterprise Group to acquire a 25 percent stake in the project. New Yorks 816-megawatt Empire Wind is owned by private company Equinor, while its 880-megawatt Sunrise Wind is being developed jointly by rsted and New England energy utility Eversource. The latter pair are also the drivers behind the Revolution Wind project providing energy to Connecticut and Rhode Island. And in North Carolina, Avangrid is developing the Kitty Hawk wind farm.

rsted has been active in Virginia, contracting with Dominion to provide it with the turbines for the utilitys 12 megawatt Coastal Virginia Offshore Wind pilot. But Dominion leaders made no reference to the company during the almost hour-long investor call Friday.

Hayes Framme, rsteds government relations and communications manager for the Southeast, confirmed to the Mercury that the company was still moving ahead full bore on the pilot project but emphasized that the larger plans, which call for 220 turbines producing 2,600 megawatts of energy, were Dominions project.

To fund that project, Farrell said that Dominion expects to roll out construction in three phases, and that, pending State Corporation Commission approval, the costs of each phase will be recouped with a rider, an extra fee that is tacked onto customers bills to pay for a specific project.

While officials acknowledged that the $8 billion price tag is far above the $1.1 billion the company told investors in March that it planned to put toward offshore wind between 2019 and 2023, they noted that most of the spending wont occur until 2024, 2025 and 2026.

In the meantime, Dominion will work hard to reduce the additional $7 billion in costs, said Farrell. Possible reductions, according to Paul Koonce, president and CEO of Dominions Power Generation Group, could come from the maturing of offshore wind supply chains as the three phases of development progress.

Farrell indicated that Dominions 2,600 megawatt project has significant bipartisan support in Richmond not only from both sides of the legislative aisle, but from Gov. Ralph Northam.

According to Farrell, Northam specifically said that he recognized that there may be some who want to push back on [the project], on whether it was necessary, required or a good thing for Virginia, [and] that he was going to work very hard to ensure that the public policy and regulatory support was in place to carry out this plan.

It was only after those statements, Farrell continued, that we went ahead with our announcement of the full deployment.

Asked to clarify what Northam meant in terms of public policy and regulatory steps and what the administration would do to ensure ratepayers of the investor-owned utility were protected, the governors press secretary, Alena Yarmosky, replied, The governor has made it clear he supports public policy that moves Virginia towards renewable energy that includes making the commonwealth a leader in offshore wind.

Northam has officially committed the commonwealth to renewable energy development, most recently through Executive Order 43, which ordered that 30 percent of Virginias energy come from renewable sources by 2030 and that the states grid be carbon-free by 2050. The 2018 Grid Transformation and Security Act passed by the General Assembly also declared the development of 5,000 megawatts of wind and solar energy to be in the public interest.

The State Corporation Commission, however, has been more skeptical. In November 2018, citing concerns for the risk the utilitys plans bore for captive customers, the SCC only reluctantly approved Dominions 12 megawatt offshore wind project, concluding that legislative priorities demanded approval but that it would not be deemed prudent as that term has been applied by this commission in its long history of public utility regulation or under any common application of the term.

Farrell said during the call that the company is very concerned about customer rates.

Its something we focus on all the time because our goal is to ensure that our customer rates stay very competitive, well below national averages, below the regional averages, he said. They are now, and we intend for them to stay that way, including with the construction of this wind farm.

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On nation's biggest proposed offshore wind farm, Dominion plans to fly solo - Virginia Mercury

Treasury moves to roll back Obama rules on offshore tax deals | TheHill – The Hill

The Treasury Department on Thursday took steps to ease regulations issued during former President Barack ObamaBarack Hussein ObamaSecond-tier Democrats face do-or-die phase Obama endorses 'outstanding group of Virginia Democrats' ahead of state elections Democrats feud over health care, Trump strategy in Iowa MOREs administration that were aimed at curbing offshore tax deals.

Treasury issued final regulations eliminating documentation requirements that were part of the Obama-era rules. The department also announced its intention to propose regulations in the future that alter other portions of the offshore tax rules.

Senior Treasury officials said that the moves are designed to protect the U.S. tax base while reflecting the changes to the tax code made by President TrumpDonald John TrumpJudge blocks White House's health care requirement for new immigrants: report Trump gets deluge of boos upon entering MSG prior to UFC 244 Trump: 'I would love' to host Ukrainian president at White House MOREs tax-cut law and making the rules less burdensome for taxpayers.

Because tax cuts made our business environment more competitive, we are now able to remove regulatory burdens that have been rendered obsolete, further reduce costs for job creators and hardworking Americans, and protect the U.S. tax base, Treasury Secretary Steven MnuchinSteven Terner MnuchinUS launches national security review of Chinese-owned app TikTok: report The Hill's Morning Report Presented by Better Medicare Alliance A new phase for impeachment On The Money: Senate passes first spending package as shutdown looms | Treasury moves to roll back Obama rules on offshore tax deals | Trade deal talks manage to weather Trump impeachment storm MORE said in a statement.

In 2016, Obamas Treasury Department issued rules aimed at preventing corporate inversions transactions in which U.S. companies merge with foreign companies and then reincorporate overseas in an effort to lower their tax burden. The rules recharacterized certain related-party debt as equity, in an effort to prevent inverted companies from avoiding taxes by moving U.S. earnings to foreign countries.

The rules were a part of a series of regulations issued by the Obama administration that slowed the pace of inversions. But business groups had long disliked the rules, arguing that they ensnared transactions that had nothing to do with inversions and that the documentation requirements were too burdensome.

Trump in 2017 issued an executive order calling for a review of tax regulations. In response to that executive order, the Treasury Department issued a report in October 2017 announcing that it was considering revoking the documentation rules which never had been operable, since their effective date had been delayed. At the time,the agency also said it would reassess the other portion of the rules after legislation overhauling the tax code was enacted.

Trumps tax cut law, which he signed in December 2017, included a number of provisions that were designed to help prevent inversions, including the reduction in the corporate tax rate from 35 to 21 percent and changes to how U.S. companies foreign earnings are taxed.

On Thursday, the Treasury Department finalized the revocation of the documentation rules and also issued an advance notice of proposed rulemaking signaling an intention to issue other regulations in this area.

Part of the 2016 rules addressed situations in which a company borrows from a foreign parent and then separately distributes cash or property to the foreign parent. The rules included a per se test that said that those two steps were connected to each other if they occurred within 72 months of each other.

In its notice Thursday,the agencysaid it plans to replace this test with a new standard to determine whether funding is connected to a distribution.

Under the proposed regulations, a debt instrument issued without such a connection to a distribution or similar transaction would not be treated as stock, the Treasury Department said in its notice. As a result, the proposed distribution regulations would be more streamlined and targeted while continuing to deter tax-motivated uneconomic activity.

The advance notice of proposed rulemaking has a 90-day comment period.

Senate Finance Committee Chairman Charles GrassleyCharles (Chuck) Ernest GrassleyGOP argues whistleblower's name must be public Overnight Health Care: Warren unveils 'Medicare for All' funding plan | Warren says plan won't raise middle class taxes | Rivals question claims | Biden camp says plan will hit 'American workers' | Trump taps cancer doctor Stephen Hahn for FDA chief GOP senator requests Obama, Clinton emails MORE (R-Iowa) praised the move.

The 2017 tax reform bill, with a reduced corporate tax rate and enhanced tax base-protections, has worked to substantially reduce the incentives for American companies to relocate offshore and has encouraged companies to come back to the United States," Grassley said in a statement.

He said the Obama rules "were released in a tax environment where the United States had the highest corporate income tax rate among our major trading partners."

"It makes sense in todays tax environment for Treasury to reconsider those regulations," Grassley added.

But Sen. Ron WydenRonald (Ron) Lee WydenOvernight Health Care: Warren unveils 'Medicare for All' funding plan | Warren says plan won't raise middle class taxes | Rivals question claims | Biden camp says plan will hit 'American workers' | Trump taps cancer doctor Stephen Hahn for FDA chief White House distances itself from Pelosi plan to lower drug prices Twitter shakes up fight over online political ads MORE (D-Ore.), the ranking member of the Senate Finance Committee criticized the proposed changes.

The corporations that got a massive taxpayer handout are getting another gift from Donald Trump," Wyden said in a statement. "The Obama administration had essentially shut down inversionstransactions whose only purpose is to help big multinational corporations move overseas to avoid paying taxes. Weakening these rules only provides an opening for corporations to again dodge their taxes.

Updated at 6:41 p.m.

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Treasury moves to roll back Obama rules on offshore tax deals | TheHill - The Hill

Will wind-wake slow industry’s ambitions offshore? – Recharge

The announcement last week by Danish developer Orsted that it was downgrading its power production forecasts across its global offshore wind portfolio after misjudging the impact of blockage and wind wake in its modelling sent shockwaves through the industry even reaching the pages of The Times where the spectre of an industry-wide problem of entire wind farms being a greater brake [on output] than expected was raised.

Energy consultancy DNV GL had warned last year that the impacts of blockage, where wind slows suddenly in front of a turbine and wake effect, where winds are slower and more turbulent as it passes through ranks of turbines though well-known to industry, could have a pronounced influence on total power production.

And Orsted, which had been studying the phenomena since 2014, admitted the modelling used until now had not been sophisticated enough, as it shaved 2% off lifetime load factor forecasts for its European offshore wind plant.

But industry experts tell Recharge that the Orsted revelations are likely to be looked back on as an offshore storm in a teacup, as advances in turbine technology, finer granularity of power production modelling and new techniques such as wake steering combine to boost wind farm output and crediting the developer with lifting the lid on long-recognised issues to the benefit of the wider sector.

The cat is out of the bag now, says Henrik Stiesdal, who was been a leading figure in the global wind industry since developing one of the so-called Danish model turbines that became a go-to design as the sector modernised in the 1970s and 1980s. But it is nothing new.

We had interesting cases back in the 1980s in the Altamont Pass wind farms in California, where there are surprisingly very smooth wind conditions, and wakes behave sometimes much as they do offshore, even though the landscape is undulating.

And even there we had some disappointing results [in terms of production output] because there were upwind projects that unexpectedly disrupted other wind farms you simply didnt get the mixing and reinjection of wind energy downwind.

We also saw this at Vindeby [the worlds first offshore wind farm, built off Denmark in 1991, where Stiedal oversaw the turbine design], where wind wake would persist many kilometres behind the wind farm and energy levels would not pick up.

But while Stiesdal acknowledges that the downward drag on production caused by blockage and wind-wake would undeniably impact the wider industry, he feels the focus should be placed on the fact that Orsted has been doing the best homework on this [area of research] and so is surely ideally positioned to develop the answers to the issues.

We now have the [modelling] tools and so much higher computing power than when then earlier models were made to really understand how big the effect [of blockage and wind-wake] is and so will be better able to predict the impact it will have, and how to develop the technologies and techniques we need to improve performance and production in these conditions, he says, pointing to the US Department of Energys A2e (Atmosphere-to-electrons) project as an example of the new philosophy being applied to wind energy R&D.

Those technologies and techniques range from the more obvious, such as longer blades to increase energy capture; to the innovative, like wake steering where the rotor is directed into the richest part of the wind stream; and the transformative smart wind farm layout and fleets of machines working synergistically within the electricity grid, as Katherine Dykes, a wind researcher at the Danish Technology University, tells Recharge.

Dykes, who is member of a 28-academic international team that recently produced a paper on the grand challenges of wind energy, puts the physics of atmospheric flow including blockage and wind-wake top of a list, on which engineering the largest dynamic rotating machines in the world comes a close second.

The Orsted announcement reaffirmed so much of we have been saying that we still have a lot of challenges in wind energy science. As mature as the wind sector seems, we are constantly pushing the envelope with technology and the environmental conditions in which they are deployed, she says.

Going to ever larger machines, going into ever-deeper waters, we are constantly going beyond where wind [power] has been before, and uncovering uncertainties we didnt know existed.

Ten years ago, we were saying land-based turbines would top out at 2MW, now we are looking at 5MW and bigger machines. And offshore, we are already at 10MW-plus and we were at 3MW only a few years ago; 20MW machines will soon be feasible. When you make those leaps in scale you get more challenges, but also so much more capacity [out of a turbine].

But it is not just about upscaling turbines and exponential growth in computing power, Dykes tells Recharge.

Some of the terminology used among [the research group] considering the wind farm of the future was, for instance, how an offshore plant would dance with the energy system much more interactive, how this resource would serve and support the grid.

It is in the area of grid integration making wind an integral part of a [decentralised] energy system that Dykes feels there is untold potential. Smart turbines, smart plants, operated and controlled with higher reliability, working synergistically within the electricity grid is the future, she states.

Though sanguine about the long view when it comes to greater accuracy in power production modeling, Philip Totaro, chief executive of industry consultancy IntelStor, sees potential short-term blowback around the capital loans made to existing offshore wind projects that may now have lengthier pay-back periods than anticipated due to blockage and wind wake and the knock-on effect on investor sentiment toward the sector.

The implications of this are that power production will be a bit lower than predicted, so having a more sophisticated model will be helpful, he tells Recharge. The real problem is that project-finance levels, including the term and tenor of project [capital expenditure] loans, were fixed using the old power production methodology, and this will have a potential impact on the payback period and could diminish subsequent investor interest in existing projects.

But Totaro points to 19 wind-wake research projects under way globally most of which are collaborative between universities and industry as evidence of the march of progress in the long term. The reality of all this is that technology improves over time, and the industry will implement better solutions for how to accurately predict power output.

The inconvenient truth remains that the explosive growth of the offshore wind industry now under way the International Energy Agencys first standalone report on the sector broadcast a 15-fold expansion to 360GW by 2040 could turn out to be a somewhat double-edged sword, as Stiesdal notes, as the sprawl of multi-gigawatt-scale projects begins to reduce the global wind resource.

Offshore there are no [natural] obstacles [as on onshore terrain]. We are the ones who are putting the obstacles in. The relative changes to the offshore environment compared to onshore is greater [because of the number of utility-scale wind farms being built offshore], he says.

The next question, of course, is Will the day come when we have so many offshore wind farms operating that we quantitatively reduce the wind resource around the world?. Yes, it will. Is that a problem? Yes and no.

If we do business as usual there will be future disappointments. However, one thing our industrial history has taught us is that you can keep on increasing the capacity factor tremendously even though you have a diminishing resource."

Stiesdal notes the ascending curve of turbine power production capacity since the first units were set turning almost 50 years ago. The pioneering Danish onshore designs had lifetime capacity factors of only 18%, a figure that rose to 23% for those installed between 1980-2000, and again to 33% for machines switched on from 2000-2017, all due mainly to the use of upscaled rotors and taller towers.

Offshore turbines are already operating with capacity factors of 50% and the worlds floating wind array, Hywind Scotland in the UK North Sea, saw a 65% capacity factor during its first months at sea.

We thought we knew everything about onshore turbines and yet we have been able to get 50% more out of them. That is a huge improvement. What we can achieve offshore? We cant yet have any idea really but the Orsted drama is useful [as a wake-up call] to remind us about how much more [improvement] offshore [there is ahead] for us.

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Will wind-wake slow industry's ambitions offshore? - Recharge

Lerwick Port sees upsurge in offshore energy-related business – News for the Oil and Gas Sector – Energy Voice

Lerwick port bosses have reported a continued upturn in offshore energy-related business during the third quarter of 2019.

Their latest figures show increases in cargo, vessel arrivals and total shipping tonnage at the Shetland harbour.

Over the first nine months of 2019, compared to the same period last year, the amount of cargo handled for the oil and gas sector was up by 77% at 67,537 tonnes.

Vessel arrivals for oil and gas work were ahead by 14.2% at 289 and the gross tonnage of shipping for the sector jumped by 46.8% to 1,534,941t.

Port chief executive Calum Grains said: The continuing upward movement in servicing offshore activity in the northern North Sea and Atlantic is encouraging, and we remain cautiously optimistic for the future.

The total number of arrivals and the tonnage of vessels remained steady at 3,936 vessels and 10,212,403 gross tonnes respectively. Cargo increased by 9% to 679,744t, including a 4% rise in freight on Serco NorthLinks roll-on/roll-off vessels on the Aberdeen/Kirkwall routes.

The daily ferries carried 9.6% more passengers, at 122,061. Fewer-than-anticipated passengers during the March-October cruise season meant total passengers fell by 1% to 197,636 over the nine months.

There were 182,554 boxes of white-fish landed between January and September, a drop of 8.3% year-on-year, but the value of landings rose by 3.8%.

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Lerwick Port sees upsurge in offshore energy-related business - News for the Oil and Gas Sector - Energy Voice

Apache at crossroads as it pins hopes on Suriname offshore field – Houston Chronicle

Houstons Apache Corp. is seemingly at a crossroads with the abrupt departure of its exploration chief, mounting financial losses, declining activity in its prized Alpine High discovery in West Texas, and future hopes pegged to striking it big offshore of the small South American nation of Suriname.

Just last week, Steve Keenan, Apaches head of worldwide exploration, left the company, triggering a nearly 10 percent drop in the companys stock price. On Wednesday, Apache reported a larger-than-expected $170 million loss for the third quarter. Since the beginning of September 2018, Apaches stock has plunged by 55 percent.

Apache, meanwhile, is hoping to replicate Exxon Mobils success in finding oil off the coast of Guyana with its offshore holdings in neighboring Suriname. Apache is quick to point out that it is drilling just seven miles from the Guyana maritime border. Apache should have the results of its first test well by the end of November.

Apache needs a key asset for growth that they can lean on for the long term, and Suriname has the most potential, said Scott Hanold, an energy analyst with RBC Capital Capital Markets. The company had put a lot of weight on the Alpine High to create value, and it doesnt seem to have materialized.

Wall Streets reaction to Keenans sudden departure was driven by the fear that his exit portended ominous news for the Suriname results. Apache declined to say why Keenan left, but insisted it wasnt related to Suriname. The first test well is still being drilled and the results wont be known for a few more weeks at the earliest, Apache said Wednesday.

Apaches quarterly loss compares to an $81 million profit in the same quarter last year. Apache has now reported losses in four consecutive quarters, totaling nearly $1 billion.

Job cuts

Apache said it is cutting an undisclosed number of jobs and further centralizing its organization to save an extra $150 million per year. In addition, Apache plans to cut its 2020 capital spending by up to 20 percent a cutback of as little as $250 million to as much as $500 million. Apache could provide more details in its earnings call Thursday morning.

Despite slashing spending, Apache noted that its production is rising. Out of an average of 391,000 barrels of oil equivalent produced each day, 254,000 barrels come just from the Permian Basin in West Texas and New Mexico. Thats 65 percent of its total production. Alpine High accounts for 30 percent of the Permian output.

Apache, however, said it will cut back on its drilling activity in the Alpine High play to two rigs from five. Considered arguably the energy sectors biggest discovery of 2016, Alpine High essentially has proven more natural gas-heavy with less oil than previously believed. While crude oil prices are modest at best, natural gas prices are much lower. In the Permian, crude oil is prized above all.

The outlook for natural gas is just not going to support the expenditures in Alpine High, said Michael Scialla, an energy analyst with the Stifel investment banking firm But I do still think it has some long-term potential.

As for Keenan, he was poached in 2014 by Apaches previous CEO from Houston rival EOG Resources before oil prices went bust beginning in late 2014. He had played a key role in EOGs pioneering success in South Texas Eagle Ford shale.

Switching gears

Keenan was charged with finding Apaches next big discovery and he seemingly did just that with Alpine High.

The companys attention is now focused on Suriname, where two more test wells are planned. Keenan could prove less necessary to the success of the project as Apache aims to switch gears from exploration mode to development, Hanold said.

Apache is sort of pivoting from the science to the operations, he said.

jordan.blum@chron.com

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Apache at crossroads as it pins hopes on Suriname offshore field - Houston Chronicle

The Giga and Terra Scam of Offshore Wind Energy – Townhall

Can anti-fossil fuel emanations from climate crisis alarmism possibly get any more insane than this?

In what might be described as a pre-Halloween trick of ginormous proportions, the International Energy Agency (IEA) now asserts that renewable, sustainable energy output will explode over the next two decades. Certainly for onshore wind and solar energy but especially for offshore wind, says the IEA.

Offshore wind currently provides just 0.3% of global power generation, IEA executive director Fatih Birol noted. But wind farms constructed closer than 37 miles from coastlines around the world, where waters are less than 60 meters (197 feet) deep, could generate 36,000 terawatt-hours (36 million gigawatt-hours or 36 billion megawatt-hours) of electricity a year, he assures us. Thats well above the current global demand of 23,000 terawatt hours, Birol and a new IEA report assert.

In fact, the potential for offshore wind energy is so great, the IEA says, that 20 years from now the industry will be 15 times bigger than in 2019 and will attract $1 trillion a year in investments (riding the coattails of government mandates and subsidies). The boom will result from lower costs per megawatt, larger turbines, and technological developments like floating platforms for turbines, says the IEA.

Wind farms? Like some cute, rustic Old McDonald family farm? Are you kidding me? These would be massive offshore electricity factories, with thousands, even millions, of turbines and blades towering500-700 feetabove the waves. Only a certifiable lunatic, congenital liar, complete true believer, would-be global overseer or campaign-cash-hungry politician could possibly believe this IEA hype or call these wind energy factories renewable, sustainable or eco-friendly.

They all clearly need yet another bucket of icy cold energy reality dumped over their heads in addition to this one, this one and this one. If the world buys into this crazy scheme, we all belong in straitjackets.

As I have said many times, wind and sunshine may be free, renewable, sustainable and eco-friendly. But the turbines, solar panels, transmission lines, lands, raw materials and dead birds required to harness this widely dispersed, intermittent, weather-dependent energy to benefit humanity absolutely are not.

A single 1.8-MW onshore wind turbine requires over 1,000 tons of steel, copper, aluminum, rare earth elements, zinc, molybdenum, petroleum-based composites, reinforced concrete and other raw materials. A 3-MW version requires 1,550 tons of these materials.

By my rough calculations (here and here), replacing just the USAs current electricity generation, backup coal and natural gas power plants, gasoline-powered vehicles, factory furnaces, and other fossil fuel uses with wind turbines and backup batteries would require: some 14 million1.8-MW onshore turbines, sprawling across some 1.8 billion acres, some 14 billion tons of raw materials, thousands of new or expanded mines worldwide, and thousands of mostly fossil fuel-powered factories working 24/7/365 in various foreign countries (since we wont allow them in the USA) to manufacture all this equipment.

And those overseas mines employ tens of thousands of fathers, mothers and children at slave wages.

Can you imagine what it would take to build, install and maintain 36 billion megawatt-hours of offshore wind turbines ... in 20 to 200 feet of water ... or on floating platforms big and strong enough to support these monstrous 600-foot-tall turbines ... in the face of winds, waves, salt spray, storms and hurricanes?

The impacts on terra firma ... and terra aqua ... would be monumental, and intolerable.

Moreover, a new study by the company that has built more offshore industrial wind facilities than any other on Earth has found that offshore turbines and facilities actually generate less electricity than previously calculated, expected or claimed! Thats because every turbine slows wind speeds for every other turbine. Of course, that means even more turbines, floating platforms and raw materials. Larger turbines 3, 9 or 10-MW mean fewer turbines, of course, but larger turbines, bases and platforms.

More turbines will mean countless seagoing birds will get slaughtered and left to sink uncounted and unaccountable beneath the waves. The eventual jungle of fixed and floating turbines will severely interfere with surface and submarine ship traffic, while constant vibration noises from the towers will impair whale and other marine mammals sonar navigation systems. Visual pollution will be significant.

Maps depicting the USAs best wind resource areas show that they are concentrated down the middle of the continent right along migratory flyways for butterflies, geese, endangered whooping cranes and other airborne species; along the Pacific Coast; and along the Atlantic Seaboard.

Coastal states, especially their big urban areas, tend to be hotbeds of climate anxiety and wind-solar activism. Indeed, many Democrat Green New Deal governors and legislators have mandated 80-100% clean, renewable, sustainable, eco-friendly energy by 2040 or 2050. California, Oregon and Washington in the West ... and Maine, New York, New Jersey, Connecticut and Virginia in the East ... are notable. So the IEAs newfound emphasis on offshore wind energy is certainly appropriate. Of course, Blue State Great Lakes would also be excellent candidates for fixed and floating turbines.

Pacific Ocean waters typically get deep very quickly. So thousands of huge floating platforms would be needed there, although Puget Sound is also windy and could be partially denuded for turbines, as theyve done in West Virginias mountains. California prefers to import its electricity from neighboring states, rather than generating its own power. However, as Margaret Thatcher might say, pretty soon you run out of other peoples energy. So homegrown wind energy will soon be essential and inland Golden State and Middle America voters would almost certainly support putting turbines straight offshore from Al Gores $9-million mansion in Montecito and the Obamas $15-million mansion in Rancho Mirage.

When it comes to actually implementing their ambitious renewable energy goals, resistance and delays grow exponentially. The Massachusetts Cape Wind project for 170 turbines off Marthas Vineyard was originally proposed around 2001. Its now down to 130 3.6-MW behemoth turbines, with the US Interior Department delaying permits once again, pending further study. The reaction of coastal residents to the reality of tens of thousands of turbines is pretty easy to guess. (Fossil Fuels and Nuclear Forever, perhaps?)

Actual electricity output is rarely as advertised, often hitting 20% or lower, depending on locations and failing completely on the hottest and coldest days when electricity is most urgently needed. During the July 2006 California heat wave, turbines generated only 5% of nameplate capacity. In Texas, wind capacity factors are generally 9% to 12% (or even down to 4% or zero) during torrid summer months.

Actual wind turbine electricity output declines by 16% per decade of operation and worse than that offshore, because of storms and salt spray. Removing obsolete offshore turbines requires huge derrick barges and near-perfect weather, with costs and difficulties multiplying with turbine size, increasing distance from shore, and whether concrete bases and electrical cables must be removed and seabeds returned to their original condition, as is required today for offshore oil and gas operations.

Cutting up 300-foot tall (or taller) towers and 200-foot (or longer) blades from offshore turbines, and hauling the sections to onshore landfills, is no piece of cake. Recycling blades are also difficult because they are made from fiberglass, carbon fibers and petroleum resins. Burning blades release hazardous dust and toxic gases, and so are (or should be) prohibited.

Dismantling and disposal costs could easily reach millions of dollars per offshore turbine, and billions for every industrial-scale wind farm. But wind energy operators should not be allowed to simply leave their derelicts behind, as they have for much smaller turbines in Hawaii and California.

Bottom line: From any economic, environmental, raw materials or energy perspective, offshore wind energy is simply unsustainable. Its time for politicians, environmentalists and industry promoters to stop selling it as magic pixie dust to replace fossil fuels. (The same goes for onshore wind and solar power.)

Paul Driessen is senior policy advisor for the Committee For A Constructive Tomorrow (www.CFACT.org) and author of many books, reports and articles on energy, climate and environmental issues.

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The Giga and Terra Scam of Offshore Wind Energy - Townhall

BP and Kosmos announce promising gas discovery offshore Mauritania – Offshore Technology

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BP and American offshore company Kosmos have announced a major gas discovery in the BirAllah area offshore Mauritania while conducting drilling as part of a joint venture.

According to Kosmos, their Orca-1 well, on a previously untested Albian play, exceeded the estimated yield as it encountered a 36 meters of net gas pay in beneficial quality reservoirs. In addition, the well extended the Cenomanian play fairway by 11 meters of net gas pay in a down-structure position relative to the original Marsouin-1 discovery well, which was drilled on the crest of the anticline.

Kosmos chairman and CEO Andrew G. Inglissaid: The Orca-1 well concludes a very strong year for exploration and appraisal in Mauritania and Senegal.

Orca-1, which we believe is the largest deepwater hydrocarbon discovery in the world so far this year, further demonstrates the world-scale quality of the Mauritania gas basin, he added.

The company also highlighted that Orcas location approximately 7.5 kilometers from the crest of the anticline proved the trap of the Orca prospect, which Kosmos estimates contains 13 trillion cubic feet of gas.

Kosmos believes that Orca-1 and Marsouin-1 have de-risked up to 50 TCF of GIIP from the Cenomanian and Albian plays in the BirAllah area enough to support a world-scale LNG project. In addition, a deeper, untested Aptian play has also been recognised within the area.

Partners in the BirAllah gas hub offshore Mauritania, include SMHPM, BP and Kosmos. According to the company the results continue the 100% success rate from nine wells targeting the inboard gas trend in Mauritania/Senegal.

Exploration and drilling activity in Mauritania has been increasing in the past few years with the main discovery in the area being the 15 Tcf Tortue field that straddles the maritime border of Mauritania and Senegal, which is expected to produce gas in 2022.

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wpd Closes Yunlin Offshore Wind Financing Syndication – Offshore WIND

Offshore wind developer wpd group has confirmed the closing of the syndication for its EUR 2.5 billion Yunlin offshore wind financing in Taiwan.

The 640MW Yunlin offshore wind farm project, the largest offshore wind transaction financed in the Asia Pacific, reached financial close on 30 May.

wpd is very happy about the successful closing of the syndication on time which reflects increasing interest by Taiwanese banks, Bjoern Nullmeyer, CFO of wpd AG, said.

Both private and state-owned banks are participating as new lenders. Besides this, a growing number of unfunded risk participants are supporting project finance for offshore wind farms.

The initially mandated lead arrangers and underwriters, Taipei Fubon Commercial Bank, Crdit Agricole Corporate and Investment Bank, Deutsche Bank, Mizuho Bank, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation, were heading the syndication for Yunlin.

The Yunlin project is 73% owned by wpd and 27%owned bya Sojitz Corp-led consortium which includes Chugoku Electric Power Co. Inc., Chudenko Corporation, Shikoku Electric Power Co., Inc., and JXTG Nippon Oil & Energy Corporation.

The Yunlin wind farm will be built eight kilometers off the Taiwanese west coast and will consist of80 Siemens Gamesa turbines of the 8MW class.

wpd has also been awarded the 350MW Guanyin offshore wind project in Taipei and has already started the financing process. Interested parties on the debt and equity side have been approached with a solid project structure, the company said.

The Guanyin offshore wind farm project is planned two kilometers off the coast of the Taoyuan district in the north of the island state, with commissioning planned for 2021/2022.

The two projects will require a total debt financing of more than EUR 4 billion, wpd said.

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wpd Closes Yunlin Offshore Wind Financing Syndication - Offshore WIND

Energy And Agriculture Are Heading Offshore – OilPrice.com

Milking cows at sea is only the beginning of what is fast becoming our Waterworld future. The bulk of our next-generation agriculture and energy is destined to be seaborne.

With 70 percent of the Earths surface covered with water, it was only a matter of timeand population growthbefore we began using this water for more than just fishing and transport. While we are still far from a Waterworld scenario, the number of inventions with floating in front of them is growing. And the latest invention that literally walks on water is something you might never expect.

Floating wind farms are already an ordinary sight in some parts of the world. So are floating solar farms. The biggest one in Europe just started operating in France earlier this month.

But now, the world is welcoming floating farms 2.0: the floating dairy farma world-firstin the Netherlands.

The aptly named Floating Farm has three levels, covering everything from feeding and rest for the cows to milking, manure and milk processing, and a store for the produce, complete with a visitors entrance. Almost every daily chore on this floating farm is automated, making it even more cutting-edge.

The energy supply is renewable, too, coming from a floating solar array, and the roof is designed as a rainwater collector. There is only one concession to the fact that cows are not, after all, amphibious: They have access to a land-based pasture onshore.

The amount of arable land is decreasing and the world population is growing so how can we produce enough healthy food in the future? says Minke van Wingerden, who developed the farm with her partner, Peter. She adds the idea came from Hurricane Sandy, which hit the States in 2012 while Peter was in New York.

Related: Floating Nuclear Power: Chernobyl On Ice Or The Future Of Energy?

The flooding was so bad, fresh food disappeared from New York stores in just two days, giving Minke and Peter the idea of producing locally, on the water, where there is no danger of, well, floods.

And its not just flood danger that disappears with floating farms. The amount of arable land globally is less than 40 percent, and the worlds population is growing fast. By 2050, it is forecast to reach 9.8 billion. Meanwhile, agricultural land, which includes both arable land and land with crops already grown on it, makes up 37.4 percent of the planets total land area.

Truth be told, this is more than what we had in the early 1960s, when agricultural land was less than 36 percent, but not a lot more. With a fast-growing population, chances are it will at some point start declining unless, of course, someone decides to completely deforest the planet to make space for citieshardly a possibility even for the most headstrong climate change skeptics.

So, with this sort of trend on the way, utilizing the 70 percent of water that cover the Earths surface makes perfect sense. In fact, floating farms are not a new discovery. In Bangladesh, people used to grow vegetables in the water a hundred years ago. Now, they have revived this method of agriculture and the results are rather promising.

Flood-proof, self-sufficient in energy, environmentally friendly: whats not to like about floating farms? Well, it seems that getting them from concept to commercialization takes quite a while.

The Rotterdam Floating Farm is not the only project that seeks to combine the benefits of nature with the ingenuity of humankind. A Spanish company, Forward Thinking Architecture, also has a floating farm project, but it has yet to build it.

The Smart Floating Farms concept touches all bases. It has three levels that can accommodate rainwater collectors, solar panelsor micro wind farms or wave energy convertersand greenhouses where plants are grown hydroponically. This means they are grown in a water solution rather than soil, with no seasonal limitations to crops. The concept farm also includes a fish farm.

According to Forward Thinking Architecture, the farm, which is modular, by the way, making it flexible for deployment, could produce 8,000 tons of vegetables annually. Related: Oil Production Paralyzed As Venezuela's Electricity Crisis Worsens

Thats certainly an impressive number, so why isnt it built yet? Perhaps, while a great concept, turning that into a real facility is on the costly side.

Yet another floating project suggests costs may sooner or later fall enough to make more of these farms a reality. The Oceanix City project, developed with the support of the UN Human Settlement program, features clusters of islands that while not just farms, would be self-sufficient in terms of food and water.

Sooner or later, some parts of the world will have no choice but to take to the water to grow their food. Cities expand and people leave farmlands for the city where there are more job opportunities. At the same time, demand for food is growing with the global population. Urban farming is a hot concept. Floating farming is likely to start getting hotter, too, especially in areas threatened by coastline erosion and a rising risk of flooding.

Thats one thing we can all do about climate change: prepare for its effects rather than complain about its causes without offering a solution to the problem. Advanced construction technologythink modular building of everythingand low-cost renewable energy are two of the tools in the toolbox that will build our future farms.

Add hydroponics and all youd need would be some seeds. And water. Lots of water.

By Irina Slav for Oilprice.com

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