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RE: Fw: NB Coleson Cove abandoning plan burn Petcoke-Hvy Oil

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#6492

Charles Randall
Participant

Here is update on NB’s Coleson Cove plant that was converted burn mixture of Petcoke-Heavy Oil mixture after a massive $747 million conversion for Orimulsion was botched by Venezuela. 
 
Seems to be another casualty of the liberal US politicians rush to embrace a Europe climate change concept whose motive has been proven false (ie Man is unimportant in scheme things), failed miserably to meet goals (none 18 signature countries Kyoto met any goals) & greatly damaged the global environment by forcing all pipes & smokestacks plants into undeveloped countries without ANY concern or monitoring on emissions…..great move dummies.
 
The NB claim now is that the mixture will save enough money, but the June upbeat report showed the project was saving 30% of its fuel cost vs Oil. So…..the blame has to fall on the expected Federal Climate Change rules eliminates these profits & makes the conversion another dead end due to higher emissions generated compared to other fuels.
 
The other part of the blame would fall to the market overpricing both coal & petcoke to keep up with the speculated driven price of crude & fuel oil products that were not supported by either fundamentals or demand in the market.  Since coal & petcoke tend to be priced at 6 months trenches – it is likely they will continue to drive a lot of alternate fuel switching & demand destruction before the price drops inline with drops already seen in diesel/Fuel Oil & Natural Gas markets this quarter.
 
Regards

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