A vast new amber deposit in India has yielded 100 fossil spiders, bees, and flies that date to the Early Eocene, or 52-50 million years ago. These arthropods are not unique -- as would be expected on an island (which India was at that time) -- but have close evolutionary relationships with fossils from the Americas, Europe, and Asia. The amber is also the oldest evidence of a tropical broadleaf rainforest in Asia.Bees, termites, spiders, and flies entombed in a newly-excavated amber deposit are challenging the assumption that India was an isolated island-continent in the Early Eocene, or 52-50 million years ago. Arthropods found in the Cambay deposit from western India are not unique -- as would be expected on an island -- but rather have close evolutionary relationships with fossils from other continents. The amber is also the oldest evidence of a tropical broadleaf rainforest in Asia.
The discovery is published this week in Proceedings of the National Academy of Sciences.
"We know India was isolated, but when and for precisely how long is unclear," says David Grimaldi, curator in the Division of Invertebrate Zoology at the American Museum of Natural History. "The biological evidence in the amber deposit shows that there was some biotic connection."
"The amber shows, similar to an old photo, what life looked like in India just before the collision with the Asian continent," says Jes Rust, professor of Invertebrate Paleontology at the Universität Bonn in Germany. "The insects trapped in the fossil resin cast a new light on the history of the sub-continent."
est in Asia
Friday, October 29, 2010
Antarctica Melting News
The change in the ice mass covering Antarctica is a critical factor in global climate events. Scientists at the GFZ German Research Center for Geosciences have now found that the year by year mass variations in the western Antarctic are mainly attributable to fluctuations in precipitation, which are controlled significantly by the climate phenomenon El Nino. Gravity data collected from space using NASA's Grace satellite show that Antarctica has been losing more than a hundred cubic kilometers (24 cubic miles) of ice each year since 2002. The latest data reveal that Antarctica is losing ice at an accelerating rate, too. How is it possible for surface melting to decrease, but for the continent to lose mass anyway? The answer boils down to the fact that ice can flow without melting.
Antarctica is Earth's southernmost continent (including ice and underlying land), encapsulating the South Pole. It is situated in the Antarctic region of the southern hemisphere, almost entirely south of the Antarctic Circle, and is surrounded by the Southern Ocean. At 5.4 million square miles), it is the fifth-largest continent in area after Asia, Africa, North America, and South America.
Two-thirds of Antarctica is a high, cold desert. Known as East Antarctica, this section has an average altitude of about 1.2 miles, higher than the American Colorado Plateau. There is a continent about the size of Australia underneath all this ice; the ice sheet sitting on top averages at a little over 1.2 miles thick. If all of this ice melted, it would raise global sea level by about 197 feet.
West Antarctica is very different. Instead of a single continent, it is a series of islands covered by ice. Because it's a group of islands, much of the West Antarctic Ice Sheet (WAIS, in the jargon) is actually sitting on the floor of the Southern Ocean, not on dry land. Parts of it are more than 1 mile below sea level. Pine Island is the largest of these islands and the largest ice stream in West Antarctica is called Pine Island Glacier. The WAIS, if it melted completely, would raise sea level by 16 to 23 feet.
Two areas in Antarctica are of particular interest because of their potential sensitivity to global climate change: the Antarctic Peninsula (which reaches up towards the tip of South America), and the Amundsen Sector of West Antarctica. The peninsula is currently experiencing a warming exceeding the global mean and the disappearance of large ice shelf areas. In the Amundsen Sector there are currently the largest flow rates and mass loss of the Antarctic Ice Sheet.
Glaciers can both melt and move or flow. Both results lead to a faster overall mass loss. Satellite images of more than 300 glaciers on the Antarctic Peninsula have already showed that they were flowing some 12 percent faster in 2003 than they were in 1993. Current data indicates that the "flow rate" is increasing though not in a linear fashion.
In the latest study, the mass balance of both regions is reevaluated from gravity data of the satellite mission GRACE. As a result, the estimates were lower than those of conventional mass balance methods. "With the GRACE time series, it was for the first time possible to observe how the large-scale ice mass varies in the two areas due to fluctuations in rainfall from year to year," said the GFZ scientists Ingo Sasgen.
It has long been known that the Pacific El Niño climate phenomenon and the snowfall in Antarctica are linked. The complementary piece to the warm phase El Nino, the cold phase known as La Nina, also affects the Antarctic climate:
"The cooler La Nina years lead to a strong low pressure area over the Amundsen Sea, which favors heavy rainfall along the Antarctic Peninsula - the ice mass is increasing there. In contrast, the Amundsen area is dominated by dry air from the interior during this time.
El Nino years with their warm phase lead to precisely the opposite pattern: reduced rainfall and mass loss in the Antarctic Peninsula, and an increase in the Amundsen Sector field, respectively" explains Professor Maik Thomas.
The recording of the entire ice mass of the South Pole and its variations is a central task in climate research and still raises many unanswered questions. In principle, the study could show that the continuous gravity data of the GRACE satellite mission contain another important medium-term climate signal.
Antarctica is Earth's southernmost continent (including ice and underlying land), encapsulating the South Pole. It is situated in the Antarctic region of the southern hemisphere, almost entirely south of the Antarctic Circle, and is surrounded by the Southern Ocean. At 5.4 million square miles), it is the fifth-largest continent in area after Asia, Africa, North America, and South America.
Two-thirds of Antarctica is a high, cold desert. Known as East Antarctica, this section has an average altitude of about 1.2 miles, higher than the American Colorado Plateau. There is a continent about the size of Australia underneath all this ice; the ice sheet sitting on top averages at a little over 1.2 miles thick. If all of this ice melted, it would raise global sea level by about 197 feet.
West Antarctica is very different. Instead of a single continent, it is a series of islands covered by ice. Because it's a group of islands, much of the West Antarctic Ice Sheet (WAIS, in the jargon) is actually sitting on the floor of the Southern Ocean, not on dry land. Parts of it are more than 1 mile below sea level. Pine Island is the largest of these islands and the largest ice stream in West Antarctica is called Pine Island Glacier. The WAIS, if it melted completely, would raise sea level by 16 to 23 feet.
Two areas in Antarctica are of particular interest because of their potential sensitivity to global climate change: the Antarctic Peninsula (which reaches up towards the tip of South America), and the Amundsen Sector of West Antarctica. The peninsula is currently experiencing a warming exceeding the global mean and the disappearance of large ice shelf areas. In the Amundsen Sector there are currently the largest flow rates and mass loss of the Antarctic Ice Sheet.
Glaciers can both melt and move or flow. Both results lead to a faster overall mass loss. Satellite images of more than 300 glaciers on the Antarctic Peninsula have already showed that they were flowing some 12 percent faster in 2003 than they were in 1993. Current data indicates that the "flow rate" is increasing though not in a linear fashion.
In the latest study, the mass balance of both regions is reevaluated from gravity data of the satellite mission GRACE. As a result, the estimates were lower than those of conventional mass balance methods. "With the GRACE time series, it was for the first time possible to observe how the large-scale ice mass varies in the two areas due to fluctuations in rainfall from year to year," said the GFZ scientists Ingo Sasgen.
It has long been known that the Pacific El Niño climate phenomenon and the snowfall in Antarctica are linked. The complementary piece to the warm phase El Nino, the cold phase known as La Nina, also affects the Antarctic climate:
"The cooler La Nina years lead to a strong low pressure area over the Amundsen Sea, which favors heavy rainfall along the Antarctic Peninsula - the ice mass is increasing there. In contrast, the Amundsen area is dominated by dry air from the interior during this time.
El Nino years with their warm phase lead to precisely the opposite pattern: reduced rainfall and mass loss in the Antarctic Peninsula, and an increase in the Amundsen Sector field, respectively" explains Professor Maik Thomas.
The recording of the entire ice mass of the South Pole and its variations is a central task in climate research and still raises many unanswered questions. In principle, the study could show that the continuous gravity data of the GRACE satellite mission contain another important medium-term climate signal.
Innovation: Portable Breast Scanners
A new portable scanner for detecting early signs of breast cancer has been developed at the University of Manchester by Professor Zhipeng Wu. The device works by radio frequency technology that can show the presence of tumors on an computer screen. The amazing thing is that it can show the image within seconds on the computer screen, rather than a x-ray mammography which takes minutes and can only be done at hospital or specialist care centers. This new technology can revolutionize the early detection for women with breast cancer.
Around the world, breast cancer comprises about ten percent of all cancer incidents for women. Breast cancer can be fatal, but there are different ways of treating it: surgery, hormone therapy, chemotherapy, and radiation. Unfortunately, according to statistics from 2004, breast cancer caused 519,000 deaths and accounted for one percent of all deaths worldwide. The key in beating the disease is to detect the cancer in its infant stage before it has a chance to grow.
Professor Wu, professor at the University's School of Electrical and Electronic Engineering, says that the new portable scanner can offer patients real-time video images that would clearly show the presence of any tumor. The new method would be much quicker and less intrusive. The device could be used at GP offices, reducing wait times and would allow patients to avoid costly and unnecessary mammographies. It can even be used at home.
The patented radio frequency technology uses computer tomography and works with the same technology as a mobile phone. The casing for the device is no larger than a bread basket, making it portable and low-cost.
Mammography, the standard detection for breast cancer, can give results up to 95 percent accuracy for women over 50, but is far less effective for younger women. For those under 50, it provides results that are only up to 60 percent accurate. However, it is at this age when detection is the most important. Thousands of lives could be saved if they are diagnosed and treated at an early stage.
While mammographies use density to detect the cancer, the new radio frequency technique works by detecting the dielectric contrasts between normal and affected breast tissues. The malignant tissue has a higher permittivity and conductivity to radio frequency, and will therefore show up differently (in red) on the scan.
It works instantly, as soon as the breasts are placed in the cup. 30 images can be scanned in real-time, in one second, making the process fast and painless. According to Professor Wu, "The real-time imaging minimizes the chance of missing a breast tumor during scanning. Other systems also need to use a liquid or gel as a matching substance, such as in an ultrasound, to work but with our system you don't need that — it can be done simply in oil, milk, water or even with a bra on."
Professor Wu has submitted his innovation to the IET Innovation Awards under the Electronics category. The winners will be announced this November.
Around the world, breast cancer comprises about ten percent of all cancer incidents for women. Breast cancer can be fatal, but there are different ways of treating it: surgery, hormone therapy, chemotherapy, and radiation. Unfortunately, according to statistics from 2004, breast cancer caused 519,000 deaths and accounted for one percent of all deaths worldwide. The key in beating the disease is to detect the cancer in its infant stage before it has a chance to grow.
Professor Wu, professor at the University's School of Electrical and Electronic Engineering, says that the new portable scanner can offer patients real-time video images that would clearly show the presence of any tumor. The new method would be much quicker and less intrusive. The device could be used at GP offices, reducing wait times and would allow patients to avoid costly and unnecessary mammographies. It can even be used at home.
The patented radio frequency technology uses computer tomography and works with the same technology as a mobile phone. The casing for the device is no larger than a bread basket, making it portable and low-cost.
Mammography, the standard detection for breast cancer, can give results up to 95 percent accuracy for women over 50, but is far less effective for younger women. For those under 50, it provides results that are only up to 60 percent accurate. However, it is at this age when detection is the most important. Thousands of lives could be saved if they are diagnosed and treated at an early stage.
While mammographies use density to detect the cancer, the new radio frequency technique works by detecting the dielectric contrasts between normal and affected breast tissues. The malignant tissue has a higher permittivity and conductivity to radio frequency, and will therefore show up differently (in red) on the scan.
It works instantly, as soon as the breasts are placed in the cup. 30 images can be scanned in real-time, in one second, making the process fast and painless. According to Professor Wu, "The real-time imaging minimizes the chance of missing a breast tumor during scanning. Other systems also need to use a liquid or gel as a matching substance, such as in an ultrasound, to work but with our system you don't need that — it can be done simply in oil, milk, water or even with a bra on."
Professor Wu has submitted his innovation to the IET Innovation Awards under the Electronics category. The winners will be announced this November.
Wednesday, October 27, 2010
Beach garbage recycled — as vacuum cleaners
There's a story behind the blue, white and green plastic covering the surface of the Pacific Ocean vacuum cleaner. They're tiny bits of plastic collected from one of Hawaii's dirtiest beaches, Kahuku, where waves dump trash from the Pacific all day long.
The machine made by Electrolux AB is fully functional and can suck up dirt from a rug like any other vacuum. But the company said it wants the device to serve as an object that provokes a conversation about the large volumes of plastic trash that are polluting the world's oceans.
The Stockholm-based company has also made four other vacuums, each from plastic trash collected in the Indian Ocean and the Mediterranean, North and Baltic seas. None of the five are for commercial sale.
Cecilia Nord, vice president for sustainability and environmental affairs at Electrolux's floor care and small appliances division, said many groups are doing their best to clean the ocean and beaches of plastic.
But the problem keeps growing because people continue to consume more plastic without recycling it afterward, she said.
"We — as a big manufacturer with a global reach — can start a debate and hopefully can contribute to addressing the root cause," Nord said.
Electrolux received its Pacific Ocean plastic from a Hawaii-based volunteer group that cleans up Kahuku beach once a week. The remote shoreline is one of Oahu's dirtiest, in part because current flows tend to deposit trash on that side of the island.
"We can be there on any day and see it coming in on each wave," said Suzanne Frazer, president and co-founder of Beach Environmental Awareness Campaign Hawaii.
Watch online series on eco-entrepreneurs
Garbage also quickly accumulates at Kahuku because the beach is behind two private properties and can't be easily visited by beachgoers who pick up trash on Hawaii's more populated shorelines every day.
Plastic breaks down into smaller pieces slowly over time but doesn't ever completely disappear. In the ocean, currents carry the small bits to areas where massive gyres of plastic garbage have formed.
One spot between Hawaii and California the size of Texas has been dubbed the "Great Pacific Garbage Patch." Researchers recently found a similar plastic trash gyre in the Atlantic between Bermuda and Portugal's Azores islands.
Seabirds eat the plastic bits — particularly ones that are a bright red or orange — thinking they're squid, fish eggs or other food.
Some Laysan albatross, a seabird that nests at Midway atoll northwest of the main Hawaiian islands, die of starvation with their stomachs full of plastic.
Electrolux's Pacific vacuum has only a few red or orange pieces because marine animals have eaten most of the brightly colored plastic trash pieces before they wash ashore.
Carey Morishige, outreach coordinator for the marine debris program at the National Oceanic and Atmospheric Administration, said people should use less plastic and reuse and recycle what they do use.
"If it's still going in, we're still going to have to clean it up," Morishige said. "The ultimate solution is going to be in stopping this stuff from getting into the ocean in the first place."
The machine made by Electrolux AB is fully functional and can suck up dirt from a rug like any other vacuum. But the company said it wants the device to serve as an object that provokes a conversation about the large volumes of plastic trash that are polluting the world's oceans.
The Stockholm-based company has also made four other vacuums, each from plastic trash collected in the Indian Ocean and the Mediterranean, North and Baltic seas. None of the five are for commercial sale.
Cecilia Nord, vice president for sustainability and environmental affairs at Electrolux's floor care and small appliances division, said many groups are doing their best to clean the ocean and beaches of plastic.
But the problem keeps growing because people continue to consume more plastic without recycling it afterward, she said.
"We — as a big manufacturer with a global reach — can start a debate and hopefully can contribute to addressing the root cause," Nord said.
Electrolux received its Pacific Ocean plastic from a Hawaii-based volunteer group that cleans up Kahuku beach once a week. The remote shoreline is one of Oahu's dirtiest, in part because current flows tend to deposit trash on that side of the island.
"We can be there on any day and see it coming in on each wave," said Suzanne Frazer, president and co-founder of Beach Environmental Awareness Campaign Hawaii.
Watch online series on eco-entrepreneurs
Garbage also quickly accumulates at Kahuku because the beach is behind two private properties and can't be easily visited by beachgoers who pick up trash on Hawaii's more populated shorelines every day.
Plastic breaks down into smaller pieces slowly over time but doesn't ever completely disappear. In the ocean, currents carry the small bits to areas where massive gyres of plastic garbage have formed.
One spot between Hawaii and California the size of Texas has been dubbed the "Great Pacific Garbage Patch." Researchers recently found a similar plastic trash gyre in the Atlantic between Bermuda and Portugal's Azores islands.
Seabirds eat the plastic bits — particularly ones that are a bright red or orange — thinking they're squid, fish eggs or other food.
Some Laysan albatross, a seabird that nests at Midway atoll northwest of the main Hawaiian islands, die of starvation with their stomachs full of plastic.
Electrolux's Pacific vacuum has only a few red or orange pieces because marine animals have eaten most of the brightly colored plastic trash pieces before they wash ashore.
Carey Morishige, outreach coordinator for the marine debris program at the National Oceanic and Atmospheric Administration, said people should use less plastic and reuse and recycle what they do use.
"If it's still going in, we're still going to have to clean it up," Morishige said. "The ultimate solution is going to be in stopping this stuff from getting into the ocean in the first place."
Tuesday, October 26, 2010
U.S. Solar Market to Grow 42% Annually
The U.S. solar market for photovoltaic and solar thermal electricity generation is projected to grow annually by 42 percent to reach 44 gigawatts (GW) by 2020 as long as the industry can attract $100 billion worth of investment, according to a report from Bloomberg New Energy Finance. The market researcher expects rapidly declining equipment costs combined with stronger government support to spur growth over the next decade.
The report also finds that high electricity prices and generous incentives are two of the biggest factors behind the market’s growth in the U.S.
The report, “Quantifying the US solar market: system returns and new build projections,” finds that solar-powered generating capacity — using photovoltaic and solar thermal electricity technologies — could reach 4.3 percent of the nation’s power capacity by 2020.
Today, the U.S. has 1.4 gigawatts of installed solar power capacity, ranking it fifth globally, according to the report. The forecast capacity from large-scale solar thermal projects is projected to rise from 0.4 gigawatts currently to 14 gigawatts by 2020. Photovoltaics is expected to achieve a 34 percent annual growth rate, reaching 30 gigawatts by 2020.
While the report indicates that the cost of a typical photovoltaic module has dropped by more than half over the past two years, solar power is still more expensive than other power sources. As an example, the unsubsidized cost of best-in-class photovoltaic and solar thermal electricity generation is just below $200/megawatt-hour — nearly four times the equivalent cost for a coal-fired power plant ($56/megawatt-hour) — and between two and four times the cost of onshore wind power, says the market research company.
The report expects that policy measures such as tax credits, capital expenditure grants, generation incentives and renewable electricity credits will be key drivers behind solar growth at least over the next three years.
The report also projects that the commercial sector will lead the way with around half of all photovoltaic installations between now and 2020, with utility and residential systems contributing one-quarter of future installations.
Taking into account incentives currently available, researchers estimate that commercial-scale photovoltaic systems can obtain unlevered returns of 8-14 percent in states such as Hawaii, Texas, New Jersey, and Massachusetts.
Two recent solar installations, adding to the solar portfolio in the U.S., include Del Mar Farms and Allsteel.
Del Mar Farms has activated its 354-kW photovoltaic (PV) system, which is expected to generate more than 660,000 kilowatt hours per year and pay for itself in about four years. The roof-mounted solar power system is spread across three buildings and offsets Del Mar’s main energy meter by more than 90 percent. Cenergy Power designed and installed the system.
Allsteel recently installed 42 solar panels on the roof of its 200,000-square-ft. plant in Muscatine, Iowa, which is expected to generate between 10,000-13,000 kilowatts of energy each year, reports Quad-City Times. The solar installation is estimated to prevent the emissions of 37,000 pounds of carbon dioxide, and help the company reach its goal of reducing energy consumption by 5 percent each year.
The report also finds that high electricity prices and generous incentives are two of the biggest factors behind the market’s growth in the U.S.
The report, “Quantifying the US solar market: system returns and new build projections,” finds that solar-powered generating capacity — using photovoltaic and solar thermal electricity technologies — could reach 4.3 percent of the nation’s power capacity by 2020.
Today, the U.S. has 1.4 gigawatts of installed solar power capacity, ranking it fifth globally, according to the report. The forecast capacity from large-scale solar thermal projects is projected to rise from 0.4 gigawatts currently to 14 gigawatts by 2020. Photovoltaics is expected to achieve a 34 percent annual growth rate, reaching 30 gigawatts by 2020.
While the report indicates that the cost of a typical photovoltaic module has dropped by more than half over the past two years, solar power is still more expensive than other power sources. As an example, the unsubsidized cost of best-in-class photovoltaic and solar thermal electricity generation is just below $200/megawatt-hour — nearly four times the equivalent cost for a coal-fired power plant ($56/megawatt-hour) — and between two and four times the cost of onshore wind power, says the market research company.
The report expects that policy measures such as tax credits, capital expenditure grants, generation incentives and renewable electricity credits will be key drivers behind solar growth at least over the next three years.
The report also projects that the commercial sector will lead the way with around half of all photovoltaic installations between now and 2020, with utility and residential systems contributing one-quarter of future installations.
Taking into account incentives currently available, researchers estimate that commercial-scale photovoltaic systems can obtain unlevered returns of 8-14 percent in states such as Hawaii, Texas, New Jersey, and Massachusetts.
Two recent solar installations, adding to the solar portfolio in the U.S., include Del Mar Farms and Allsteel.
Del Mar Farms has activated its 354-kW photovoltaic (PV) system, which is expected to generate more than 660,000 kilowatt hours per year and pay for itself in about four years. The roof-mounted solar power system is spread across three buildings and offsets Del Mar’s main energy meter by more than 90 percent. Cenergy Power designed and installed the system.
Allsteel recently installed 42 solar panels on the roof of its 200,000-square-ft. plant in Muscatine, Iowa, which is expected to generate between 10,000-13,000 kilowatts of energy each year, reports Quad-City Times. The solar installation is estimated to prevent the emissions of 37,000 pounds of carbon dioxide, and help the company reach its goal of reducing energy consumption by 5 percent each year.
DOT, EPA Set Nation’s First GHG, Fuel Efficiency Standards for Trucks, Buses
The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Transportation (DOT) have unveiled the first national standards to reduce greenhouse gas (GHG) emissions and improve fuel efficiency of heavy-duty trucks and buses. The new proposed standards are for three categories of heavy trucks: combination tractors, heavy-duty pickups and vans, and vocational vehicles.
The EPA and DOT sent draft rules to the White House in August.
The program, proposed by EPA and DOT’s National Highway Traffic Safety Administration (NHTSA), is projected to reduce GHG emissions by about 250 million metric tons and save 500 million barrels of oil over the lives of the vehicles produced within the program’s first five years.
For combination tractors, the agencies propose engine and vehicle standards that begin in the 2014 model year and achieve up to a 20 percent reduction in carbon dioxide (CO2) emissions and fuel consumption by 2018 model year.
For heavy-duty pickup trucks and vans, the proposal calls for separate gasoline and diesel truck standards, which phase in starting with 2014 model year and cut emissions and fuel consumption 10 percent for gasoline vehicles and 15 percent for diesel vehicles by 2018 model year (12 and 17 percent respectively if accounting for air conditioning leakage).
For vocational vehicles, the agencies propose engine and vehicle standards starting in 2014 model year, which would reduce CO2 emissions and fuel consumption 10 percent by 2018 model year.
Overall, the heavy-duty national program would provide $41 billion in net benefits over the lifetime of model year 2014 to 2018 vehicles, together with the potential for fuel efficiency gains, ranging from seven to 20 percent.
There is a 60-day comment period that begins when the proposal is published in the Federal Register.
While a host of companies including Navistar and Cummins and organizations such as ACEEE, Diesel Forum and the Engine Manufacturers Association have announced support for the proposed standard, some like ACEEE say the agencies have left some fuel-savings opportunities on the table.
“Setting fuel efficiency standards for trucks is a crucial step toward saving oil and reducing emissions from the transportation sector. And it will help keep down the price of goods that move by truck,” said Therese Langer, Director of ACEEE’s Transportation Program, in a statement.
Langer said a recent National Academy of Sciences study shows how long-haul tractor-trailers (the biggest diesel users) could reduce their fuel consumption by at least 35 percent by 2017, using measures that would pay for themselves in two years but the proposed rule calls for no more than 20 percent savings. “Trailers are not covered by the rule, even though improving trailers’ aerodynamics and tires alone could reduce fuel use by 10 percent,” she added, and “the program needs to do more to draw advanced technologies into the market.”
Allen Schaeffer, executive director of the non-profit Diesel Technology Forum said that many initial gains in fuel efficiency will come from improvements in the efficiency of the diesel engines including further advances in combustion efficiency, waste heat recovery, improved efficiency through advanced turbocharging and fuel injection. Other technologies such as lower rolling resistance tires and aerodynamics, and idle reduction strategies could also be used as part of a total vehicle approach, he added.
Schaeffer noted that some vehicles may be more appropriate for some solutions than others. As an example, long-haul trucks can benefit from aerodynamic improvements that cut vehicle drag and save fuel because they operate at higher average speeds, however, local pickup and delivery trucks would not benefit from aerodynamics but would benefit from increased use of hybrid powertrains because of the stop and go nature of their operations, he added.
The Engine Manufacturers Association (EMA) and Truck Manufacturers Association (TMA) also announced their support for a single national GHG reduction and fuel efficiency improvement program.
The associations said they will review the proposal, submit comments as part of the public participation process and work with EPA, NHTSA, and other stakeholders to ensure that an implementable rule is finalized on schedule.
A few companies already are pledging to work with the EPA and DOT to implement the proposed changes.
Navistar said it will work closely with the EPA and DOT to ensure this program expands the use of existing technologies to reduce CO2 emissions, improve overall fuel efficiency, and to properly incentivize the early introduction of advanced technologies.
“While it’s too soon to evaluate all elements of the proposed regulations, we are committed to engaging with the EPA and DOT on this issue. We look forward to working together with government and industry leaders in the months ahead to implement changes that will benefit the customers and communities we serve with cleaner, more fuel efficient commercial vehicles,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer, in a statement.
Cummins, which already has made some advances in clean diesel technology, also supports the new standards.
“For some time now, Cummins has advocated for consistent and responsible regulations that recognize the needs of business, offer clear direction and provide incentives to companies that create innovative technologies as well as jobs in this country,” said Rich Freeland, president, Cummins Engine Business, in a statement. “Such regulations also add real value to our customers, as better fuel economy lowers their operating costs while significantly benefiting the environment. We look forward to working with the EPA, DOT and other stakeholders in developing the final rule.”
The EPA and DOT sent draft rules to the White House in August.
The program, proposed by EPA and DOT’s National Highway Traffic Safety Administration (NHTSA), is projected to reduce GHG emissions by about 250 million metric tons and save 500 million barrels of oil over the lives of the vehicles produced within the program’s first five years.
For combination tractors, the agencies propose engine and vehicle standards that begin in the 2014 model year and achieve up to a 20 percent reduction in carbon dioxide (CO2) emissions and fuel consumption by 2018 model year.
For heavy-duty pickup trucks and vans, the proposal calls for separate gasoline and diesel truck standards, which phase in starting with 2014 model year and cut emissions and fuel consumption 10 percent for gasoline vehicles and 15 percent for diesel vehicles by 2018 model year (12 and 17 percent respectively if accounting for air conditioning leakage).
For vocational vehicles, the agencies propose engine and vehicle standards starting in 2014 model year, which would reduce CO2 emissions and fuel consumption 10 percent by 2018 model year.
Overall, the heavy-duty national program would provide $41 billion in net benefits over the lifetime of model year 2014 to 2018 vehicles, together with the potential for fuel efficiency gains, ranging from seven to 20 percent.
There is a 60-day comment period that begins when the proposal is published in the Federal Register.
While a host of companies including Navistar and Cummins and organizations such as ACEEE, Diesel Forum and the Engine Manufacturers Association have announced support for the proposed standard, some like ACEEE say the agencies have left some fuel-savings opportunities on the table.
“Setting fuel efficiency standards for trucks is a crucial step toward saving oil and reducing emissions from the transportation sector. And it will help keep down the price of goods that move by truck,” said Therese Langer, Director of ACEEE’s Transportation Program, in a statement.
Langer said a recent National Academy of Sciences study shows how long-haul tractor-trailers (the biggest diesel users) could reduce their fuel consumption by at least 35 percent by 2017, using measures that would pay for themselves in two years but the proposed rule calls for no more than 20 percent savings. “Trailers are not covered by the rule, even though improving trailers’ aerodynamics and tires alone could reduce fuel use by 10 percent,” she added, and “the program needs to do more to draw advanced technologies into the market.”
Allen Schaeffer, executive director of the non-profit Diesel Technology Forum said that many initial gains in fuel efficiency will come from improvements in the efficiency of the diesel engines including further advances in combustion efficiency, waste heat recovery, improved efficiency through advanced turbocharging and fuel injection. Other technologies such as lower rolling resistance tires and aerodynamics, and idle reduction strategies could also be used as part of a total vehicle approach, he added.
Schaeffer noted that some vehicles may be more appropriate for some solutions than others. As an example, long-haul trucks can benefit from aerodynamic improvements that cut vehicle drag and save fuel because they operate at higher average speeds, however, local pickup and delivery trucks would not benefit from aerodynamics but would benefit from increased use of hybrid powertrains because of the stop and go nature of their operations, he added.
The Engine Manufacturers Association (EMA) and Truck Manufacturers Association (TMA) also announced their support for a single national GHG reduction and fuel efficiency improvement program.
The associations said they will review the proposal, submit comments as part of the public participation process and work with EPA, NHTSA, and other stakeholders to ensure that an implementable rule is finalized on schedule.
A few companies already are pledging to work with the EPA and DOT to implement the proposed changes.
Navistar said it will work closely with the EPA and DOT to ensure this program expands the use of existing technologies to reduce CO2 emissions, improve overall fuel efficiency, and to properly incentivize the early introduction of advanced technologies.
“While it’s too soon to evaluate all elements of the proposed regulations, we are committed to engaging with the EPA and DOT on this issue. We look forward to working together with government and industry leaders in the months ahead to implement changes that will benefit the customers and communities we serve with cleaner, more fuel efficient commercial vehicles,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer, in a statement.
Cummins, which already has made some advances in clean diesel technology, also supports the new standards.
“For some time now, Cummins has advocated for consistent and responsible regulations that recognize the needs of business, offer clear direction and provide incentives to companies that create innovative technologies as well as jobs in this country,” said Rich Freeland, president, Cummins Engine Business, in a statement. “Such regulations also add real value to our customers, as better fuel economy lowers their operating costs while significantly benefiting the environment. We look forward to working with the EPA, DOT and other stakeholders in developing the final rule.”
Monday, October 25, 2010
India Warned Over Capital Inflow Risks
Economists are warning that New Delhi may be underestimating the risks of excessive capital inflows, as huge foreign portfolio investment into India has helped push both the stock market and the rupee to pre-crisis levels.
Since January, India’s equity and bond markets have attracted a record $33.8bn in foreign funds on the back of the country’s robust economy, which grew 8.8 percent year-on-year in the second quarter. However, during the same period foreign direct investment – which tends to be more long-term than inflows into the stock market – dropped 35 percent, down to Rs637bn ($14.4bn) from Rs976bn.
Neil Beer | Photodisc | Getty Images
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“India’s dependence on foreign capital to grow its economy is a limiting factor,” said Ridham Desai, India equity strategist for Morgan Stanley. “What seems more critical to us is the mix of capital flows, which still are skewed toward capital market sources rather than foreign direct investment.”
A string of multibillion-dollar state-run IPOs, which will follow Coal India’s $3.5bn offering, is expected to attract further foreign capital, raising new concerns that the economy is overheating.
“Today there are several indicators that suggest that the economy is moving towards the overheating zone,” said Sonal Varma, chief India economist for Nomura. “We are not quite there but we should be vigilant.”
India’s emerging market peers, including Brazil, Indonesia, South Korea, Taiwan and Thailand, have taken some measures to curb foreign capital inflows and are acting to suppress resulting currency appreciations.
In the past month the Indian rupee [INR=X 44.25 -0.10 (-0.23%) ] has risen nearly 5 percent against the U.S. dollar. Last week the currency reached its highest level since the global financial crisis, hitting Rs44.11 against the dollar.
Yet despite the stronger rupee, India has decided to wait, as policymakers weigh up the pros and cons of allowing more “hot money” into Asia’s third-largest economy.
Some analysts believe that the government can absorb the extra liquidity given a widening current account deficit, which is estimated to be at about 3 percent of gross domestic product this fiscal year.
"The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector."
Sonal Varma
Chief India Economist, Nomura
“At the moment the country needs the extra inflows to fund its deficit,” said Rashesh Shah, chairman of Edelweiss, a financial services group.
However, more cautious economists warn that the bounty of foreign cash could lead to unintended consequences, as a sharp reversal of capital inflows could negatively affect the country’s overall balance of payments.
“The government’s over-reliance on one-off sales of state-owned assets and the rising influx of foreign capital to fund its deficit is not healthy for the economy,” said A. Prasanna, chief economist at ICICI Securities. “These extra [foreign] funds could dry up from one moment to the other.”
The entry of short-term and volatile investments should be a prime concern for the government, according to Ms Varma.
“When you get too many inflows your asset classes start heating up and that leads to asset price bubbles,” she said. “The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector.”
New Delhi said it was aware of the risks and had been playing down economists’ concerns. The country’s septuagenarian finance minister, Pranab Mukherjee, says that “there is nothing unusual about capital inflows … We have not reached the stage where the panic button needs to be pressed.”
Since January, India’s equity and bond markets have attracted a record $33.8bn in foreign funds on the back of the country’s robust economy, which grew 8.8 percent year-on-year in the second quarter. However, during the same period foreign direct investment – which tends to be more long-term than inflows into the stock market – dropped 35 percent, down to Rs637bn ($14.4bn) from Rs976bn.
Neil Beer | Photodisc | Getty Images
--------------------------------------------------------------------------------
“India’s dependence on foreign capital to grow its economy is a limiting factor,” said Ridham Desai, India equity strategist for Morgan Stanley. “What seems more critical to us is the mix of capital flows, which still are skewed toward capital market sources rather than foreign direct investment.”
A string of multibillion-dollar state-run IPOs, which will follow Coal India’s $3.5bn offering, is expected to attract further foreign capital, raising new concerns that the economy is overheating.
“Today there are several indicators that suggest that the economy is moving towards the overheating zone,” said Sonal Varma, chief India economist for Nomura. “We are not quite there but we should be vigilant.”
India’s emerging market peers, including Brazil, Indonesia, South Korea, Taiwan and Thailand, have taken some measures to curb foreign capital inflows and are acting to suppress resulting currency appreciations.
In the past month the Indian rupee [INR=X 44.25 -0.10 (-0.23%) ] has risen nearly 5 percent against the U.S. dollar. Last week the currency reached its highest level since the global financial crisis, hitting Rs44.11 against the dollar.
Yet despite the stronger rupee, India has decided to wait, as policymakers weigh up the pros and cons of allowing more “hot money” into Asia’s third-largest economy.
Some analysts believe that the government can absorb the extra liquidity given a widening current account deficit, which is estimated to be at about 3 percent of gross domestic product this fiscal year.
"The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector."
Sonal Varma
Chief India Economist, Nomura
“At the moment the country needs the extra inflows to fund its deficit,” said Rashesh Shah, chairman of Edelweiss, a financial services group.
However, more cautious economists warn that the bounty of foreign cash could lead to unintended consequences, as a sharp reversal of capital inflows could negatively affect the country’s overall balance of payments.
“The government’s over-reliance on one-off sales of state-owned assets and the rising influx of foreign capital to fund its deficit is not healthy for the economy,” said A. Prasanna, chief economist at ICICI Securities. “These extra [foreign] funds could dry up from one moment to the other.”
The entry of short-term and volatile investments should be a prime concern for the government, according to Ms Varma.
“When you get too many inflows your asset classes start heating up and that leads to asset price bubbles,” she said. “The broader risk is that these bubbles are often fuelled by easier access to credit and if the bubbles burst it will have a negative impact on the entire banking sector.”
New Delhi said it was aware of the risks and had been playing down economists’ concerns. The country’s septuagenarian finance minister, Pranab Mukherjee, says that “there is nothing unusual about capital inflows … We have not reached the stage where the panic button needs to be pressed.”
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