4 astonishing signs of coal’s declining economic viability

Stephan:  Here is some excellent news about the end of the carbon energy era. Even though Criminal Trump is doing everything he can to protect and support the coal industry in the U.S., even here, and certainly around the rest of the developed world, coal is very quickly passing out of favor. Good news for all of us.

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There has been no more dramatic story in the world of energy over the last 20 years than the rise and fall of coal.

In the early 2000s, coal fueled China’s rapid growth. From 2000 to 2013, coal consumption in the country grew at a ludicrous pace of 12 percent a year on average, from 1.36 billion tons annually to 4.24 billion. For a while, China was burning over half of global coal output. Coal producers across the world flourished and many believed the “economic miracle” would go on forever.

It didn’t. In the early 2010s, China’s manufacturing-driven boom began slowing, cheap fracked gas took off the in the US, the world woke up to climate change, and renewable energy began its unstoppable march down the cost curve.

The result has been an extraordinary reversal of fortunes for coal at a time when it’s clearer than ever that we must stop using fossil fuels as soon as possible.

Just how bad has it gotten? For that, we turn to the Carbon […]

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Trump’s Company Paid Bribes to Reduce Property Taxes, Assessors Say

Stephan:  [caption id="attachment_51062" align="alignleft" width="300"] Credit: fivethirtyeight[/caption] With Criminal Trump and his family, it is always a grift, or a bribe, or some sleazy finagle. Here's the latest proof of that. There just doesn't seem to be an honest thought in their heads. This may matter to you, and it certainly matters to me. But Trumpers? They don't care. In the midst of the biggest healthcare crisis since the polio scare of the 1950s, and a screw-up of unparalleled proportions, Trump's approval rating according to fivethirtyeight has hardly changed. The latest poll I have seen shows 74% of Trumplicans approve of Trump's performance, while only 8% of Democrats do.

The Trump Organization paid bribes, through middlemen, to New York City tax assessors to lower its property tax bills for several Manhattan buildings in the 1980s and 1990s, according to five former tax assessors and city employees as well as a former Trump Organization employee.

Two of the five city employees said they personally took bribes to lower the assessment on a Trump property; the other three said they had indirect knowledge of the payments.

The city employees were among 18 indicted in 2002 for taking bribes in exchange for lowering the valuations of properties, which in turn reduced the taxes owed for the buildings. All of the 18 eventually pleaded guilty in U.S. District Court in Manhattan except for one, who died before his case was resolved.

No building owners were charged, though the addresses of some of the properties involved became public. Trump Organization buildings were not on that list. No evidence has emerged that Donald Trump personally knew of or participated in the alleged bribery.

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Editor’s Note — A Tale of Two Worlds

Stephan:  Over the weekend I had a lengthy conversation with my daughter, Katherine. She is the president of a multimillion dollar social services agency in Northern California. But she is also a working  single mother. Katherine has about 100 people who work for her, and her clients are mostly people of low income who are in some kind of crisis, medical, psychological, financial, addiction. I listened as she laid out for me her passionate concerns not only for her hundreds of clients and their families, but also for the men and women who work for her. I was not surprised by her compassion and concern. She walked away from a career as a singer when one of the most famous music producers then in Hollywood approached us, saying he would make her a star, choosing instead to become a social worker as soon as she finished graduate school; a life path she has followed ever since. But I was surprised as she described the realities of her clients and staff as they faced school closings, therapy closures loss of work, and all the other things you hear discussed. But it is one thing in the abstract and quite another to listen to the specific details from the life of a single hourly minimum wage working class mother with a handicapped child. After we hung up I began to think about what the stress of the pandemic is bringing into focus about the utter inadequacy of America's social safety network, particularly the absurd and ugly illness profit system that passes for healthcare in this country. How in the world are people who can't write a $400 check in the best of times, who may or may not even have health insurance, who may need food assistance, going to get through what is happening in America? With the demonstrated incompetency of the Trump administration, how to people even get tested? This morning when I did my first survey of the news I came across four stories that told me a very different story, and I realized that another aspect of American life is also being brought into focus: what the ultra-rich are doing and what their lives are like. In sum it is now very clear that there is one very large America, and another very small America, and their worlds strongly resemble the medieval age with its small world of lords and ladies and the vast world of peasants. As it was 500 years ago, so it is again today. These two world are so different that neither really relates, or even understands the other.
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Super-rich adopt bunker mentality amid coronavirus crisis

Stephan:  For several years now I have been tracking a little discussed trend: the super-rich  buying or building plush hidy-holes and bunkers in out of the way places, all in preparation for times when things get nasty. You're worried about toilet paper, the uber-rich have other issues.

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Most people are stocking up on hand sanitizer and toilet paper, but the super-rich have adopted more extreme measures to ward off the coronavirus – including preparing doomsday bunkers, according to reports.

Robert Vicino, founder of Vivos Group — a California-based firm that builds underground shelters — said his company has seen a surge in sales of such bunkers since the crisis erupted, according to the Guardian.

In Indiana, the company has converted a Cold War bunker into a fortified refuge for 80 people — and is offering space in hundreds of bunkers in an abandoned World War II ordnance depot in South Dakota.

The concierge company Quintessentially said one of its members had actually converted his home into a “military-style bunker” and was asking his visitors to show records of their movements and contacts.

In Kansas, the Survival Condo offers the well-heeled accommodations inside a 15-story-deep retired missile silo that once housed Atlas missiles and was built to withstand nuclear strikes.

Survival Condo owner Larry Hall bought the obsoleted […]

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See inside the world’s newest private jet: a $110 million converted Airbus airliner that looks like a flying penthouse apartment

Stephan:  You are worried about mobs in airports, the uber-rich not so much. You have 32-inches in economy. The uber-rich have a bit more.

Credit: Acropolis Aviation ACJ320neo

  • Acropolis Aviation recently unveiled the interior of its new Airbus ACJ320neo aircraft, of which it is the first operator.
  • The Airbus Corporate Jet family of aircraft are modified versions of Airbus’ passenger jets converted for private use.
  • The apartment-like aircraft are a step above the most luxurious private jets from Gulfstream, Bombardier, and Dassault.

The Airbus A320neo was a game-changer for airlines and is now being eyed by the private jet industry.

The first next-generation aircraft to be produced by the European manufacturer, the A320neo promised and delivered lower operating costs and increased efficiency compared to the previous generation Airbus A320s.

The aircraft has the same shell of its ever-popular predecessor but features new engines and aerodynamically friendly sharklet wingtips, both aiding in its reduced fuel consumption and providing additional range.

While the passenger model of the A320neo is in use the world over with airlines such as British Airways, Scandinavian Airlines, and Lufthansa, there’s a small subset of the aircraft being produced with the world’s mega elite in mind.

Marketed as an Airbus Corporate […]

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