Ditlev Engel: Why Would You Tax Something You Want More Of?!

first_imgDitlev Engel speaking at the opening session of the Offshore Wind Conference 2018 in Amsterdam. Photo: Jeroen Tresfon/ Navingo.Taxation of electricity produced by offshore wind and other renewables, as well as taxing these technologies, is something the industry needs to stand up against if it wants to see even lower costs and accelerate the energy transition, according to Ditlev Engel, CEO at DNV GL Energy. In most countries, the industry is talking about cost of energy and lowering cost of energy, but the real matter should be taxation of electricity, according to Engel.“Taxation is what most people are paying for the most, it is not the cost of generation. Therefore, the real question here is not about the technology, but about how most regulators and politicians have decided to tax it and, if we are trying to meet the goals from the Paris Agreement, will they tax the electricity and why would they do that,” Engel said.“The reason we taxed it in the old days is because we wanted to lower CO₂ emissions, so why would you now tax something you want more of?!”Speaking about the energy transition at the opening session of the Offshore Wind Conference 2018 in Amsterdam, Engel said that the energy transition can only happen with public support and with people understanding why this is being done.It is the industry’s obligation to make sure people understand the challenges and what needs to be achieved, Ditlev Engel emphasised.At the session that took place on 22 October, he also presented DNV GL’s Energy Transition Outlook, saying that the report is not offering a selection of scenarios, but that it is a forecast based on scrutinised information and the company’s involvement and expertise in the energy sector.In a short chat with our team after the A new dawn for offshore wins session, Engel summarised the main points of the report. Learn more by watching the video:Reporting: Nadja Skopljak, Rebecca van den Berge – McFedries, Jeroen Tresfon; Editing: Adrijana Buljan, Adnan Durakovićlast_img read more

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Number of Laid-Off Workers Seeking Jobless Aid Stuck at 1.3M

first_imgWASHINGTON (AP) — The number of laid-off workers seeking unemployment benefits remained stuck at 1.3 million last week, an historically high level that indicates many companies are still cutting jobs as the viral outbreak intensifies.The elevated level of applications for jobless aid is occurring as new confirmed cases of coronavirus are spiking across much of the Sunbelt, threatening to weaken the economic recovery. Case counts are rising in 40 states and 22 states have either paused or reversed their efforts to reopen their economies, according to Bank of America.Rising infections paralleled rising applications for aid in some states getting hit right now, and fell in states with declining infections. In Florida claims doubled to 129,000, and in Georgia they rose nearly one-third to 136,000, according to the Labor Department’s Thursday report. In California they increased 23,000 to nearly 288,000. Applications also rose in Arizona and South Carolina.Applications fell in Texas, which has seen infections spike, and in New Jersey and New York, where the virus is mostly under control.“Conditions in the labor market remain weak and the risk of mounting permanent job losses is high, especially If activity continues to be disrupted by repeated virus-related shutdowns,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.A separate government report showed that retail sales jumped 7.5% in June, a healthy gain that suggested the economy was healing just before the viral resurgence has weighed on hopes for a steady recovery.The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year ago, after a brutal plunge in March and April was offset by a decent rebound in May and June.While applications for jobless aid fell by about 10,000 from the previous week, the figure has now topped 1 million for 17 straight weeks. The record high for weekly unemployment applications before the pandemic, was nearly 700,000.Those figures are adjusted for seasonal variations, a practice intended to filter out trends that don’t reflect on the economy, such as the firing of seasonal workers after the winter holidays. Yet the impact of the coronavirus has made such adjustments less relevant, economists say, because claims are so far above normal levels.Before seasonal adjustment, applications actually rose 100,000 to 1.5 million, a sign that layoffs are worsening.The total number of people who are receiving jobless benefits dropped 400,000 to 17.3 million, the government said. That suggests that some companies are continuing to rehire workers, which could offset some of the job losses reflected in the still-high level of claims.An additional 928,000 people sought benefits last week under a separate program for self-employed and gig workers that has made them eligible for aid for the first time. These figures aren’t adjusted for seasonal variations, so the government doesn’t include them in the official count.The economic recovery is also threatened by the pending expiration of many government support programs that have shored up household and business finances.The government’s small business loan program, known as the Paycheck Protection Program, will finish taking applications Aug. 8. More than $500 billion has already been lent and more than half of small companies that got loans say they have spent all the money, according to a survey by the National Federation of Independent Business. Nearly one-quarter say they have or expect they will lay off workers once the funds run out.And an extra $600 in weekly unemployment benefits provided by the federal government on top of regular aid from the states is set to expire this month. Those funds, along with the $1,200 relief checks sent out in April, enabled millions of Americans to stay current on housing costs and bills.Meghan McGowan, 30, lost two jobs when the pandemic intensified in mid-March, one as a full-time librarian in Detroit and a second as a substitute at a different library system to help bring in some extra cash.She is currently making more from unemployment than she earned at her previous jobs, but is prepared to return to work even though she worries about the health risks. Detroit is a viral hot spot.The looming expiration of the $600 is nerve-wracking for her because the hiatus on her student loans will end this fall and she has an auto insurance bill due.“Before when I was working through grad school I worked in restaurants so that had always been my backup plan, but that’s not an option now,” she said.Companies continue to lay off people. American Airlines warned its workers Wednesday that it may have to cut up to 25,000 jobs in October because of sharply reduced air travel. Airlines are barred from layoffs until then as a condition of federal aid they have received. United Airlines has already told 36,000 workers they may lose their jobs.Air traffic began to slowly rebound in mid-April, but like other parts of the economy, the improvement plateaued in July as the viral outbreak worsens.last_img read more

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End of an era as United legend Giggs quits club

first_imgMourinho, who had already been lined up to replace van Gaal after the Dutchman failed to qualify United for next season’s Champions League, is keen to have his own backroom staff along with him which means Rui Faria replacing Giggs.Giggs, who Mourinho reportedly suspected of disloyalty and spinning against Moyes and then van Gaal when their fortunes slumped, was offered a different role but declined it.But there was no rancour in Giggs’ statement, released by United, towards the Portuguese manager.“I want to congratulate Jose Mourinho on his appointment as manager of the world’s biggest club,” said Giggs.“There are only a handful of proven winners at the very highest level and Jose is unquestionably one of them. I know the fans will welcome him.”Ed Woodward, executive vice chairman, paid a handsome tribute to United’s faithful servant.“Ryan’s place in the history of Manchester United is assured,” said Woodward.“He has been a constant presence at the club since 1987 and during his playing days, regularly delighted crowds; first with his dazzling wing play and later with his intelligence and ability to dictate a game.“He has all the attributes to be a terrific manager in the future.”Share on: WhatsApp Pages: 1 2 The 42-year-old Welshman — an integral part of the great side built by Alex Ferguson and who made a record 963 appearances — is keen to pursue a managerial career, having been assistant manager during the unsuccessful spells of David Moyes and then Louis van Gaal.“It has not been a decision that I have made lightly. I’ll take away so many special memories as well as a lifetime of experiences that will, I hope, serve me well in the future,” said Giggs in a statement issued by the club.“However, the time feels right and although I have no immediate plans to step into management, it is where I want to be.”Giggs, who won 13 league titles and two Champions League trophies amongst other honours, said that it was an enormous wrench for him.“After 29 seasons at Manchester United as a player and assistant manager, I know winning is in the DNA of this Club – giving youth a chance, and playing attacking and exciting football.“It’s healthy to have high expectations, it’s right to expect to win. Manchester United expects, deserves, nothing less.“This is why it is a huge decision for me to step away from the club that has been my life since the age of 14.” Manchester, United Kingdom | AFP |Manchester United legend Ryan Giggs is to leave after almost 30 years of service, the English Premier League club announced on Saturday in a widely expected move following Jose Mourinho’s appointment as manager.last_img read more

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Liverpool seek new ‘heroes’ without concussed Salah against Barcelona

first_imgFILE PHOTO: Sadio ManeLiverpool, United Kingdom | AFP | Liverpool must turn to unlikely heroes to overturn a 3-0 Champions League semi-final, first leg deficit against Barcelona on Tuesday according to defender Trent Alexander-Arnold after top scorer Mohamed Salah was ruled out with concussion.Roberto Firmino will also be absent against the Spanish champions leaving Jurgen Klopp without two of his most potent weapons for an already massive challenge.“Obviously we’ve got two of our main goalscorers out, but it also presents an opportunity for some of the other lads to come in, make a name for themselves and make themselves heroes,” said Alexander-Arnold.“If we do overturn the deficit tomorrow then whoever scores, their name will always be remembered because I am sure it will be one of those really special nights.”Salah was stretchered off during Liverpool’s tense 3-2 win at Newcastle on Saturday that kept alive their chances of a first Premier League title in 29 years after colliding with Magpies’ goalkeeper Martin Dubravka for a high ball.“It’s a concussion so that means he would not even be allowed to play,” said Klopp at his pre-match press conference on Monday.“He feels OK but it is not good enough from a medical point of view that is all. He’s desperate (to play) but we cannot do it.”Klopp was realistic at his side’s chances of progressing to a second consecutive Champions League final, but refused to give up hope with Liverpool’s history of European comebacks.“Together with our supporters it was a long season and there is at least a little chance to make it even longer,” added Klopp.“Two of the world’s best strikers are not available tomorrow night and we have to score four goals against Barcelona to go through after 90 minutes. “It doesn’t make life easier, but as long as we have 11 players on the pitch, we will try it.”– Anfield an extra man –Luis Suarez scored the opening goal against his former club in last week’s first leg at the Camp Nou, but ahead of his return to Anfield, the Uruguayan warned his current teammates of the lift playing on home soil will give Liverpool.“To play at Anfield is like playing with an extra man for what the fans transmit to the Liverpool players,” said Suarez.And Barcelona coach Ernesto Valverde believes attack will be the best form of defence as if the Catalans get an away goal, Liverpool will need to score five.“What we have to do is score,” said Valverde.Suarez will be joined by Lionel Messi and Philippe Coutinho on his return to Anfield after a £142 million move to Barca from Liverpool last year.But Ousmane Dembele is absent for the visitors due to a hamstring injury and Valverde believes the Frenchman’s absence will be felt just as much as Salah and Firmino.“We don’t want any player to be injured. It would have been extraordinary to see them all on the field. They are all important,” he added.“Dembele’s absence is a problem. Against a team that concedes space (in behind) it is always important to have player like Ousmane.”Share on: WhatsApplast_img read more

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Mallard’s Team of the Week — Kootenay Rhythm Dragons – Sisters In Sync

first_imgKootenay Rhythm Dragons – Sisters In Sync aligned a First Place finish in the Women’s Championship “B” Division at the Kelowna Dragon Boat Festival held recently in the Central Okanagan City. The Sisters, with six new paddlers and contributions from a few other teams, captured the the B Championship Division and a fourth place overall.Mallard’s Source for sports would like to recognize the Kootenay Rhythm Dragons — Sisters In Sync with Team of the Week honours.The team includes, Carla Klein, Janet Stephenson, Jocelyn Davies, Frances Long, Deb Rhyder, Lena Guignion, Maggie Mulvihill, Brooke Campbell, Louise Andrew, Melissa Michaud, Amy Grumme, Mary Walters, Pat Gibson, Cath Little, coach Puleng Pratt, Marlene Pozin, Deb Smith, Tammy Nygaard, Peggy Scott, Dawn Jacobsen, Diane Tulloch(Steersperson), Verna Poohachoff and Jill Jacobsen.Next up for the squad is a Penticton event in September.last_img read more

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Nelson Minor Hockey grad Adam Wheeldon off to Concordia University

first_imgWheeldon, 20, came up through the ranks of Nelson Minor Hockey before latching on with the Kootenay Ice of the BC Hockey Major Midget League in 2009.The next season he earned a spot with hometown Nelson Leafs of the Kootenay International Junior Hockey League where he had 11 points in 44 games.Wheeldon’s high-octane play earned him a spot in the BC Hockey League with Trail Smoke Eaters from 2011-14.In 140 games with the Smokies, Wheeldon accumulated 39 points.However, Wheeldon left Trail during the offseason, playing his final season in the AJHL with Camrose.Wheeldon, 20, completed a successful season in the Alberta Junior Hockey League with Camrose where the 5’11”, 200-pound forward scored 10 goals while adding 14 assists in 59 games with the AJHL South regular season champions.”The Kodiaks organization would like to congradulate Adam and his family on this achievement in his hockey career and we look forward to many more years of hockey and education,” Rybalka said in closing.Wheeldon joins a host of graduating players from the AJHL choosing to remain in Alberta to find offers on the Alberta Colleges Athletic Conference team. Nelson Minor Hockey grad Adam Wheeldon has accepted an offer to attend Concordia University in Edmonton.Concordia plays in the Alberta Colleges Athletic Conference against college and university teams from throughout Alberta.“Adam will have an impact from day one with the team,” said Kodiaks coach and GM Boris Rybalka on the team website.“His style of play will make him a fan favourite and opposition players will need to keep their heads up when he is on the ice.”“Coach Glegloff is excited about having Adam attend Concordia as he sees his leadership and compete level paying dividends to the program,” Rybalka adds.last_img read more

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