Thursday, July 2, 2009

U.S. to invest $408 mln in two 'clean coal' projects

The U.S. will invest $408 million in federal funds to share the costs of developing two new carbon capture and sequestration projects in coal fired power plants, Energy Sec. Steven Chu announced on Wednesday.


The projects aim to achieve at least 90 percent carbon dioxide capture efficiency, Chu said.


The projects will be developed by Basin Electric Power Cooperative which was granted $100 million and Hydrogen Energy International LLC, a joint venture owned by BP Alternative Energy and Rio Tinto, given $308 million.


“Today’s announcement represents a major step forward in the fight to reduce CO2 emissions from coal-based power plants. These new technologies will not only help fight climate change, they will also create new jobs and position the United States as a leader in carbon capture and storage technologies for many years, ” said Secretary Chu in a statement today.


Basin Electric Power Cooperative will partner with Powerspan and Burns & McDonnell and invest the funds to capture and sequestrate carbon dioxide from its Antelope Valley Station, located near Beulah, North Dakota.


Hydrogen Energy International will design, build and operate an integrated gasification combined cycle power plant in Kern County, California. It will take blends of coal and petroleum coke and convert them into hydrogen and CO2. The gases will be separated: the hydrogen gas will be used to fuel a power station and the CO2 will be transported to oil reservoirs and used for enhanced oil recovery.


Hydrogen Energy aims to capture more than 2 million tons of carbon dioxide per year.


The selection of the two projects is part of the third round of the Clean Coal Power Initiative, a cost-shared collaboration between the federal government and private industry to increase investment in low-emission coal technology by demonstrating advanced coal-based, power generation technologies.

Thursday, June 25, 2009

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Sunday, June 14, 2009

Stocks Dip on Weak Bond Auction, Interest Rate Worries

By Renae Merle
Washington Post Staff Writer
Thursday, June 11, 2009

Wall Street took a break from its three-month rally yesterday, closing down slightly after a relatively weak auction of government bonds sparked concerns about rising interest rates.

After briefly bouncing into positive territory for the year, the Dow Jones industrial average lost its footing and closed down for the second day in a row. The index of 30 blue-chip stocks fell 0.3 percent, or 24.04 points, to 8739.02. The broader Standard & Poor's 500-stock index was down 0.3 percent, or 3.28 points, closing at 939.15, while the tech-heavy Nasdaq composite index fell 0.4 percent, or 7.05 points, to 1853.08.

The focus yesterday was on an auction of $19 billion in 10-year securities, part of $65 billion in government bonds being sold this week. There were enough bidders, but buyers asked for higher interest rates, or yields, in return for their investment, analysts said. This came along with reports that Russia's central bank planned to cut back its purchases of U.S. bonds and invest in International Monetary Fund bonds instead.

Investors have become concerned that the United States is taking on too much debt, potentially driving up interest rates and stymieing the economic recovery, analysts said. "Printing money is something eventually you have to pay the price for, and right now you are seeing it in the bond market, and it's going to be paid with higher interest rates," said Matthew D. McCormick, a banking analyst at Bahl & Gaynor Investment Counsel, an investment management firm.

That concern has driven down the price of long-term government bonds, pushing their yields up. A higher yield means there is less demand for the bond. The yield on 10-year bonds, a market benchmark, climbed to 3.95 percent yesterday, its highest level this year, and compared with 3.86 percent Tuesday. The interest rate had fallen to 2 percent late last year when investors saw bonds as a safe haven from market turbulence.


Meanwhile, crude oil prices climbed 2 percent to $71.33 a barrel on the New York Mercantile Exchange. Oil prices have more than doubled from their low in March, and some analysts predict oil could reach $75 a barrel within months. That helped rally energy stocks, but it has also raised concerns that rising fuel prices could further hamper already weak consumer spending.

Wednesday, June 10, 2009

China to Speed Australian Investment After Rio Rebuff

By Jesse Riseborough

June 10 (Bloomberg) -- China is set to accelerate investment in iron ore projects in Australia, the world’s biggest exporter, after the collapse of its deal to buy stakes in mines owned by Rio Tinto Group.

“The opportunities for Chinese groups to come in and facilitate development of some of the smaller players are definitely going to start picking up pace,” said Eric Lilford, head of Australia mining at Deloitte Corporate Finance. Australia has A$26 billion ($21 billion) of proposed new iron ore mines, according to government estimates.

Rio last week scrapped a planned $19.5 billion deal with Aluminum Corp. of China, known as Chinalco, in favor of a share sale and iron ore venture with BHP Billiton Ltd., dashing Chinese expectations of locking in more supplies. Aurox Resources Ltd., Grange Resources Ltd. and Atlas Iron Ltd. may attract increased investment from China, according to Ord Minnett Ltd., an affiliate of JPMorgan Chase & Co.

“We won’t see this trend stopping or being deterred by Chinalco’s rejection because these companies are trying to get sustained supplies with stable prices,” said Zhou Xizeng, a Beijing-based analyst at Citic Securities Co. “Chinese companies have been successful in forming alliances with Australian junior miners.”

Fortescue Metals Group Ltd., Australia’s third-largest iron ore exporter, surged 15 percent to A$3.59 at the 4:10 p.m. Sydney time close on the Australian stock exchange, the highest in eight months. Aurox jumped 20 percent to 27.5 cents and Murchison Metals Ltd. rose 11 percent to a nine-month high.

Billionaire Forrest

Fortescue, controlled by billionaire Andrew Forrest, may be a target of Chinese investment with Baoshan Iron & Steel Co. and China Minmetals Group among companies seeking acquisitions of overseas mining projects as the nation opens its purse strings, Citigroup Inc. said last month. China may spend more than $500 billion on foreign resource investments over the next eight years, according to Deloitte Touche Tohmatsu.

“It will refocus interest on the junior iron ore sector in the Pilbara” region of Western Australia, said Mike Young, managing director of Perth-based iron-ore explorer BC Iron Ltd. “The Chinese want to have a more personal level of involvement with their suppliers. The private mills in China will start looking at other players.”

Rio, BHP and Brazil’s Vale SA, the world’s biggest exporter, control about 75 percent of the global iron ore exports. Steelmakers in China, Europe and Japan have said the planned venture between Rio and BHP, the world’s second- and third- largest producers, would limit competition.

Monopoly Hints

The China Iron & Steel Association has rejected an agreement reached by Rio Tinto and Japanese and Korean mills for a 33 percent cut in annual contract prices, still at the second- highest level on record. The BHP-Rio venture “hints heavily of monopoly,” the Chinese group said in a statement yesterday.

China, the biggest buyer of iron ore, needs supplies to boost economic growth. The nation’s 4 trillion yuan ($585 billion) stimulus package has already helped manufacturing expand, sparked record vehicle sales and boosted monthly imports of iron ore, copper and aluminum to records in April.

A total of 33 “less advanced” iron ore projects, with an estimated cost of A$26 billion, are planned, the Australian Bureau of Resources and Agricultural Economics said in a report last month. Many are lower-grade, magnetite ore projects including Atlas Iron’s A$3 billion Ridley project and Grange’s $1.6 billion Southdown project.

Magnetite Ore

Magnetite needs greater processing than higher-grade hematite ore, which accounts for about 96 percent of Australia’s output, according to Gindalbie Metals Ltd.

“The Chinese love magnetite so I’m sure they are going to push into the magnetite space big time,” Peter Arden, a resource analyst at Ord Minnett, said in an interview in Melbourne. “You are going to see at this stage multiple stakes being taken all over the place, to put their foot on it and keep others out.”

Aquila Resources Ltd. is seeking to develop a A$4.1 billion direct shipping iron ore mine, port and rail project in Western Australia. The company may seek partners to develop infrastructure for the project, Russell Tipper, general manager of iron ore for Aquila, said today by phone from Perth.

“That’s really where the funding could be of greatest assistance,” Tipper said. “We are discussing with parties the prospect of being able to share the development of infrastructure.”

Outside Australia

To be sure, China may also invest in projects outside of Australia, said Alan Heap, managing director of global commodities for Citigroup in Sydney. “There is high grade ore in West Africa, there is high grade ore in India,” he said.

Rio’s decision “aroused great repercussions among China’s enterprises and people,” Chinese foreign ministry’s spokesman Qin Gang said in an e-mailed statement yesterday. “However, we still believe China’s enterprises will continue” to carry out international investments and cooperation, he said.

The trend toward overseas investment “won’t be changed just because of one or two cases of failure,” said Li Kejie, a spokesman at Sinosteel Corp., China’s second-largest iron-ore trader, which last year acquired Australian producer Midwest Corp. for A$1.4 billion in cash.

Hunan Valin Iron & Steel Group, China’s ninth-largest steelmaker, this year bought a 17.3 percent stake in Fortescue for A$1.3 billion. Fortescue may need as much as $4 billion to proceed with plans to almost double output, Valin said last month.

To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net

Tuesday, June 9, 2009

Cara Kerja Program Invesmandiri.com

Konsep Program Investasi Mandiri adalah memberikan kesempatan kepada siapa saja untuk mendaftar dengan cara mentransfer sejumlah uang ke 4 (empat) nomor rekening yang tertera (kita sebut sebagai Sponsor Bronze, Silver, Gold, dan Platinum), kemudian setiap member yang mendaftar akan diaktifkan oleh minimal salah satu Sponsor dan berhak memperoleh replika website Program Investasi Mandiri atas nama member tersebut yang siap di informasikan kepada siapa saja lewat iklan, email, SMS, mIRC, Yahoo/MSN Messenger, ICQ, banner, surat, iklan koran, majalah, dsb.

Tugas utama anda adalah melakukan iklan dan promosi sebanyak mungkin terhadap website pribadi anda Invesmandiri.com, sehingga banyak orang bergabung di Program Investasi ini atas sponsor anda.

Ketika terjadi duplikasi, setiap member baru akan menggeser posisi Sponsor di atasnya sehingga member baru menjadi Bronze, member yang sebelumnya Bronze menjadi Silver, Silver menjadi Gold, Gold menjadi Platinum, dan Sponsor Platinum hilang dari daftar transfer di website anda. Semua terjadi secara otomatis.

INVESTASI MANDIRI

Selamat Datang di Program Invesmandiri.com
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Investasi membuka/mengembangkan usaha
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Kegiatan sosial, termasuk LSM
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Monday, June 8, 2009

Mengatasi permasalahan login Joomla 1.5.7

Mengatasi permasalahan login Joomla 1.5.7
Posted in Tutorial & Tips by aries on the October 27th, 2008
Seperti yang kita ketahui, joomla telah mengupdate versi terbarunya ( security release) ke versi 1.5.7 untuk menutup celah/bug di versi sebelumnya 1.5.6 .Masalah baru ditemukan ternyata registered user tidak bisa login yang ditandai dengan halaman blank atau muncul error sbb :

Fatal error: Call to undefined function: stripos() in …\libraries\joomla\environment\uri.php on line 675

Setelah mencari penyebabnya, ternyata masalah ini hanya muncul bagi kita yang masih menggunakan PHP 4, karena login joomla menggunakan redirection, sedangkan PHP 4 tidak support hal ini.

Solusinya :

1. Upgrade versi PHP anda ke PHP5 (anda bisa meminta upgrade/pindah ke layanan hosting anda);

2. Bagi yang ingin bertahan di PHP4 (upgrade ke PHP5 kadang membuat error module/component/plugin yang telah kita install sebelumnya), anda bisa menambahkan script berikut di bagian akhir file …/libraries/joomla/utilities/compat/php50x.php :

if (!function_exists( 'stripos' )) {
function stripos( $haystack, $needle, $offset = 0 ) {
return strpos( strtolower( $haystack ), strtolower( $needle ), $offset );
}
}Selamat mencoba!