May 8, 2024

Archives for January 2019

More than half of US coal mines have closed since 2008

US coal production has declined by more than a third since peaking in 2008, while the number of active coal mines plunged to 671 mines in 2017 from 1,435 mines in 2008, the EIA [Energy Information Administration] has estimated.

Lower coal demand since 2008 has resulted in closures of smaller and less efficient mines, with most mine closures in the Appalachian region.

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“The uptick in mine closures since 2008 has largely been driven by economics, and smaller, less profitable mines have been more susceptible to closures,” the EIA said.

At the end of last year, the EIA estimated that US coal consumption in 2018 was expected to have dropped by four percent on the year to the lowest level of coal consumption since 1979.

The US electric power sector accounted for 93 percent of total US coal consumption between 2007 and 2018. But since 2007, coal consumption in the electricity generation sector has declined, due to retirements of coal-fired power plants and lower utilization rates of coal power plants which have been facing growing competition from natural gas-fired power generation and from renewable energy sources. Coal’s market share has shrunk at the expense of natural gas and renewables, the EIA said. 

Also on rt.com Russia’s coal exports, production hit 5-year high in 2018

In its latest inventory of electric generators, the EIA said earlier this month that wind, natural gas, and solar capacity will lead the new electricity capacity in the United States in 2019, while coal-fired generation will account for more than half of scheduled capacity retirements.

In 2019, the US electric power sector is expected to add 23.7 gigawatts (GW) of new capacity, while 8.3 GW capacity is planned to be retired. Among the capacity scheduled for retirement, coal will lead with 53 percent of all planned retirements, followed by natural gas with 27 percent, and nuclear with 18 percent.

This article was originally published on Oilprice.com

Article source: https://www.rt.com/business/450219-us-coal-plants-closed/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Sri Lanka halts imports of Johnson & Johnson baby powder over concerns about cancer-causing asbestos

Talc is a popular healthcare product across Sri Lanka and much of Asia. Sri Lanka imports the product from JJ India.

The country’s National Medicine Regulatory Authority (NMRA), which is part of the Health Ministry, said it had informed the distributor, A.Baur Co, that it would require further tests to continue importing the powder.

Also on rt.com Johnson Johnson ordered to stop using raw material in its baby powder in India

“We have held their re-registration and informed the distributor to submit quality reports from an accredited laboratory to ensure there is no asbestos in their products,” Chief Executive of NMRA Kamal Jayasinghe told Reuters.

According to an unnamed representative at the NMRA, the license for A.Baur Co to import the product expired in December.

Head of consumer affairs for A.Baur, Shalutha Perera, told the media that the firm has informed JJ India of the suspension of the licensing process.

“JJ India directly handles all the regulatory matters,” he said, adding that NMRA contacted A.Baur in December regarding new asbestos testing.

Also on rt.com Johnson Johnson wins trial over cancer claims linked to baby powder

A spokeswoman for JJ India said the company “is in full compliance with current Indian regulatory requirements for the manufacturing and testing of our talc.”

She added: “We are fully cooperating with the Indian government and are awaiting results from their testing.”

According to the spokeswoman, the product was routinely tested by both suppliers and independent labs to ensure that it is free of asbestos.

Also on rt.com Hidden ‘for decades’: Johnson Johnson may have known about ‘carcinogens’ in baby powder since 1971

In December, India’s drugs regulator ordered Johnson Johnson to halt production of baby powder using raw materials in two of its Indian factories until test results prove they are free of asbestos. Inspections at JJ Indian facilities followed Reuters’ report that the firm knew for decades that cancer-causing asbestos could be found in its product.

The American pharmaceutical company is facing thousands of lawsuits in the US alleging that the asbestos in its baby powder caused cancer. The drugs firm has always denied the allegations and insisted that the product is safe and asbestos-free.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/450215-jj-baby-powder-asbestos/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Fed Signals End of Interest Rate Increases

The Fed on Wednesday also sought to clarify its plans for its giant stockpile of Treasuries and mortgage bonds it accumulated in the wake of the financial crisis. A decade ago, the central bank tried to revive economic activity and reduce borrowing costs for things like cars and mortgages by cutting its benchmark interest rate nearly to zero, and by vacuuming up huge quantities of bonds.

The Fed’s bond-buying program was intended to encourage investors to buy riskier assets, like stocks and corporate bonds, by driving up the price of safer securities, like Treasuries and mortgage-backed securities. The Fed’s enormous purchases drove down interest rates because, as competition for available Treasuries increased, buyers were forced to accept lower rates of return.

As the economy recovered, the Fed decided to take away that crutch and since the fall of 2017, it has gradually reduced its holdings at a pace of about $45 billion per month. But the Fed said on Wednesday that it planned to stop relatively soon, maintaining a much larger presence in the bond market than it did before the 2008 crisis.

The decision has limited implications for the general public. Some Fed officials and outside experts think that the new approach has improved the Fed’s ability to influence economic conditions, like interest rates, but the practical difference is generally regarded as modest.

But it is a big deal for bond markets. The Fed is the world’s largest investor, and even small changes in Fed policy make large ripples. The decision was applauded by some investors, who argue that the Fed’s withdrawal from the bond market is contributing to the volatility of asset prices. Other investors, however, want the Fed to minimize its profile in the bond market.

In a final bow to markets, the Fed emphasized its plans were subject to change.

“The committee is prepared to adjust any of the details for completing the balance sheet normalization in light of economic and financial developments,” the statement said. It added the Fed was even willing to increase the size of the balance sheet, if necessary.

Article source: https://www.nytimes.com/2019/01/30/us/politics/fed-interest-rate.html?partner=rss&emc=rss

Facebook’s Profits and Revenue Climb as It Gains More Users

The change is part of a strategy by Mark Zuckerberg, Facebook’s chief executive, to knit together its businesses into one overarching network. Last week, The New York Times reported that he planned to integrate the technical infrastructure of WhatsApp, Instagram and Facebook Messenger so that people could talk across the services for the first time. The move, which the company hopes to complete by the end of the year or by early 2020, could provide Facebook opportunities for additional revenue from messaging activity and would increase the utility of all of the apps.

In a call with investors on Wednesday, Mr. Zuckerberg confirmed the report, calling the move an eventual boon for users. People want messaging that is “fast, private and reliable,” he said.

The moves followed a difficult year for Facebook, as questions about the unintended consequences of social media have sharpened. The company has faced scrutiny over improper handling of its users’ data, its largest-ever security breach last year, and the distribution of false content and foreign influence campaigns across its network.

This week, Facebook has been grappling with a report by TechCrunch that it paid people to install an app that would suck in all of their phone and web activity. That has renewed questions about Facebook’s approach to user privacy and prompted criticism from Apple, which oversees iPhone apps.

For its fourth quarter, Facebook’s revenue rose 30 percent from a year earlier to $16.9 billion, while profits jumped 61 percent to $6.9 billion. Seven million advertisers spend money on the platform, the company said, and in a shift, more than two million now buy ads in Facebook’s Stories, one of its newer products.

Article source: https://www.nytimes.com/2019/01/30/technology/facebook-earnings-revenue-profit.html?partner=rss&emc=rss

Erik Olin Wright, 71, Dies; Marxist Sociologist With a Pragmatic Approach

Dr. Duneier, who interviewed Dr. Wright in December for a sociology textbook, quoted him as saying:

“If I were to write a 50-page text on how to think about class in the 21st century, I would begin by saying the problem of class is not the problem of the poor, the working class or the middle class. It’s the problem of the ruling class — of a capitalist class that’s so immensely wealthy that they are capable of destroying the world as a side effect of their private pursuit of gain.”

In addition to scholarship, Dr. Wright loved teaching, and his courses attracted many non-Marxists. When he accepted the university’s distinguished teaching award in 1998, he said his best ideas came from dialogue with students.

“Scholarship remains a passion,” he said, “but teaching is a joy.”

Erik Olin Wright was born on Feb. 9, 1947, in Berkeley, Calif. He grew up in Lawrence, Kan., where his father, M. Erik Wright, and his mother, Beatrice Ann (Posner) Wright, were professors of psychology at the University of Kansas, although his mother’s appointment was delayed several years because of an anti-nepotism policy.

Erik was planning to attend the University of Kansas and, because of his advanced studies, would have entered as a junior. But a family friend gave him an application to Harvard as a gift. He applied and was put on the wait list. In the meantime, he won first place in mathematics at the 1964 National Science Fair (now called the Intel International Science and Engineering Fair) with a project on Möbius strips.

He was accepted at Harvard, received his bachelor’s degree in social studies in 1968 and studied history for two years at Balliol College, Oxford. He met Marcia Kahn at Harvard; they married in 1971.

In addition to his wife, Dr. Wright is survived by two daughters, Jennifer Wright Decker and Rebecca Wright; a sister, Colleen Rand; a brother, Woodring Wright; and three grandchildren.

During the Vietnam War, Dr. Wright received a deferment from military service to attend a training school in Berkeley for Unitarian ministers. He also worked as a student chaplain at San Quentin State Prison.

Article source: https://www.nytimes.com/2019/01/30/obituaries/erik-olin-wright-dead.html?partner=rss&emc=rss

Fixtures: The Baumans, Sellers of Really, Really Rare Books

In a town of sparkle and flash, rare books are an anomaly, but for the Baumans, they are lucrative. One visitor spent $400,000 on “The Great Gatsby” and McKenney and Halls’ “History of the Indian Tribes of North America” in a single visit. Another, a quiet man in shorts, flip-flops and a T-shirt spent $15,000 on a first edition of “Huckleberry Finn” and then several weeks later returned to pick out a first edition of “The Catcher in the Rye” for $17,000. (One can only imagine what Holden Caulfield would think of that.)

But most receipts are well under $1,000, Ms. Bauman said. Julia Child’s “Mastering the Art of French Cooking” is a bargain at $850, and a 1996 first edition of Chuck Palahniuk’s “Fight Club” goes for about $1,000.

One Las Vegas visitor started with modest purchases. Then he became fascinated with Gould’s “Birds of Great Britain” an ornithological plate book that contains a series of spectacular plates, colored by hand, plunking down $100,000.

Later he paid $500,000 for a first edition of Isaac Newton’s “Principia.”

The couple got into rare books quite by accident, recalled David Bauman, a gentle, soft-spoken man in his 70s, after espying some at Freeman, the auction house in Philadelphia where they lived as newlyweds. “For $1 we bought a first edition of a volume of Samuel Johnson’s works, then we bought a first edition of James Joyce’s “Ulysses” for $12, and we started to think about it as a business,” he said. “We were not afraid then, because we did not know enough to be afraid.”

They opened a small store on the second floor of a building across the street from Freeman’s. “But what we did not realize is that most people don’t look up,” Mr. Bauman said.

Article source: https://www.nytimes.com/2019/01/30/style/bauman-books.html?partner=rss&emc=rss

Critic’s Notebook: Fyre Festival, Theranos and Our Never-Ending ‘Scam Season’

McFarland may be the one in prison for fraud, but the most fascinating thing about Fyre was how deep the scam reached. The festival was marketed by Jerry Media, an online advertising agency that began as a popular Instagram account that cribbed other peoples’ memes without credit. It was aggressively promoted by Instagram influencers — those model/advertiser/guru hybrids whose entire project rests on smoke and mirrors. Even the documentaries on the festival seemed compromised. Hulu paid McFarland for an interview, while Elliot Tebele, the founder of Jerry Media, is an executive producer of the Netflix documentary. It was scams all the way down.

And at the top? The closest-held secret of modern scam artists is how woefully unimaginative they really are. Our oversaturated scam culture seems to have produced something new: utterly unappealing con men and women who could not credibly be referred to as “artists” at all.

Though the Fyre documentaries are stocked with associates who swear to McFarland’s charm, he appears to have all the appeal of a sentient airport lounge. Holmes, built up as a striking female entrepreneur with a heartfelt personal story, is revealed as stilted and vampiric onscreen; “The Inventor” includes a haunting scene in which she celebrates a company win by dancing robotically to MC Hammer. And since her unmasking, Delvey has been dragged on the internet for her tellingly bad hair.

There’s not a lovable scamp or a master chameleon in the bunch. They’re just young people who wanted to make something incredible, failed and couldn’t accept it. In a word, unexceptional. These days, there’s a scammer born every minute.

Article source: https://www.nytimes.com/2019/01/30/arts/fyre-festival-billy-mcfarland-elizabeth-holmes-anna-delvey.html?partner=rss&emc=rss

Apple Was Slow to Act on FaceTime Bug That Allows Spying on iPhones

Unknown to Ms. Thompson, there is a healthy market for bugs and the code to weaponize them, which allow governments, defense contractors and cybercriminals to invisibly spy on people’s devices without their knowledge, capturing everything from their locations to information caught on their microphones and cameras. The FaceTime flaw, and other Apple bugs, can fetch tens of thousands, if not hundreds of thousands or even millions of dollars, from dozens of brokers. Those brokers then sell those bugs for ever higher sums to governments and intelligence and law enforcement agencies around the world. On the seedier side of the spectrum are brokers who will sell these tools on the dark web to the highest bidder.

The only catch is that hackers must promise never to disclose the flaw to the vendor for patching, so that buyers can keep their access.

The market for Apple flaws has soared in the post-Edward Snowden era as technology makers include more security, like end-to-end encryption, to thwart would-be spies. This month, Zerodium, a well-known broker and security firm, raised its reward for an Apple iOS bug to $2 million.

In part to compete in that market, and reward those who do right by the company by notifying it of potentially lucrative bugs, Apple announced its own bounty program in 2016 — the last of the Silicon Valley companies to do so.

At a hacker conference that year in Las Vegas, Apple made a surprise announcement: It said it would start paying rewards as high as $200,000 to hackers who responsibly turned over crucial flaws in its products. But the bounty program has been slow going, in part, hackers say, because they can make multiples of that bounty on the black market, and because Apple has taken its time rewarding them for reporting problems.

The FacePalm bug is a particularly egregious case, researchers say, not just because it was discovered by a teenager simply trying to use his phone, but because it allowed full microphone and video access.

Article source: https://www.nytimes.com/2019/01/29/technology/facetime-glitch-apple.html?partner=rss&emc=rss

Tech We’re Using: An Arsenal of Skype, Voice Recorders and FOIAs

The danger of hateful feedback (in addition to the possibility of actual danger) is that to repel it, you risk numbing yourself to constructive criticism. I try to deal with this by giving myself a little time, after I publish a story, before I look at emails from readers or comments online. With distance, I can process criticism and funnel it into making my work better.

I have a book coming out in April, and I am really going to have to remember this when it comes out.

Outside of work, what tech product are you and your family using a lot?

Pity my children. Five years ago, when they were in elementary school and middle school, I published a book about bullying in which my basic advice to parents about technology was to delay access to it. Especially smartphones.

My sons got flip phones in seventh grade and iPhones in ninth grade (the older one) and eighth grade (the younger one). They would tell you that they missed out on certain social interactions, especially group texting, because their parents were dogmatic. (Also, in my own case, hypocritical — I have trouble unplugging.)

I will say, though, that I still think setting limits is crucial. I like the mantra “People sleep upstairs. Phones sleep downstairs.”

These days, my family bonds more over my tech ineptitude than any tech product. (It would be better if the gender dynamics in this story were reversed, but so it goes.) In particular, I’m mocked for not being able to turn on the television. There are four remote controls, with cryptic prompts for activating four different boxes. I can’t keep it all straight. I get to pick the shows sometimes, though.

Article source: https://www.nytimes.com/2019/01/30/technology/personaltech/skype-voice-recorders-foias.html?partner=rss&emc=rss

Does Facebook Really Know How Many Fake Accounts It Has?

Mr. Schultz added that Facebook was cautious in removing manually created accounts because it didn’t want to erase authentic profiles. “We don’t want to over-enforce,” he said. “So what we actually focus on is the harmful behavior.”

Yet obvious fake accounts that are engaging in harmful behavior slip through. Last year, I found dozens of fake accounts masquerading as the company’s founder, Mark Zuckerberg, to scam Facebook users out of cash. Some had been up for years.

Facebook also said the vast majority of fake accounts it removed were ones that it had spotted, rather than ones that users had reported. Of the 2.8 billion fake accounts it took down in the year that ended Sept. 30, Facebook said, it found 99.3 percent on its own.

Those numbers also contradict my experience. Last year, I easily created 11 Facebook accounts that used the same name, occupation and profile photo as my verified account. They remained live for five days, until I reported them to Facebook. Instagram, which Facebook owns, also left up 10 impostor accounts I had created until I reported them; it took down only five, until I alerted a Facebook spokesman.

If an account appears to be impersonating another user but isn’t “engaged in harmful behavior,” Facebook often leaves it up, Mr. Schultz said. He said such duplicate accounts could be from people who had lost their password or were confused.

Duplicate accounts are banned under Facebook’s rules. But they persist anyway, in even greater numbers than fake accounts, according to the company’s estimates, compounding its problem of inauthentic activity.

Facebook’s estimates of duplicates have also seesawed, including nearly doubling in 2017. Take a look at the chart below.

Article source: https://www.nytimes.com/2019/01/30/technology/facebook-fake-accounts.html?partner=rss&emc=rss