On this day: “Oh say can you see…”

first_img Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Please enter your comment! LEAVE A REPLY Cancel reply The Anatomy of Fear Save my name, email, and website in this browser for the next time I comment. Share on Facebook Tweet on Twitter Support conservation and fish with NEW Florida specialty license plate On This Day in History: September 13th, 1814Key pens Star-Spangled BannerFrom The History Channel On this day in 1814, Francis Scott Key pens a poem which is later set to music and in 1931 becomes America’s national anthem, “The Star-Spangled Banner.” The poem, originally titled “The Defence of Fort McHenry,” was written after Key witnessed the Maryland fort being bombarded by the British during the War of 1812. Key was inspired by the sight of a lone U.S. flag still flying over Fort McHenry at daybreak, as reflected in the now-famous words of the “Star-Spangled Banner”: “And the rocket’s red glare, the bombs bursting in air, Gave proof through the night that our flag was still there.” Francis Scott Key was born on August 1, 1779, at Terra Rubra, his family’s estate in Frederick County (now Carroll County), Maryland. He became a successful lawyer in Maryland and Washington, D.C., and was later appointed U.S. attorney for the District of Columbia.On June 18, 1812, America declared war on Great Britain after a series of trade disagreements. In August 1814, British troops invaded Washington, D.C., and burned the White House, Capitol Building and Library of Congress. Their next target was Baltimore.After one of Key’s friends, Dr. William Beanes, was taken prisoner by the British, Key went to Baltimore, located the ship where Beanes was being held and negotiated his release. However, Key and Beanes weren’t allowed to leave until after the British bombardment of Fort McHenry. Key watched the bombing campaign unfold from aboard a ship located about eight miles away. After a day, the British were unable to destroy the fort and gave up. Key was relieved to see the American flag still flying over Fort McHenry and quickly penned a few lines in tribute to what he had witnessed.The poem was printed in newspapers and eventually set to the music of a popular English drinking tune called “To Anacreon in Heaven” by composer John Stafford Smith. People began referring to the song as “The Star-Spangled Banner” and in 1916 President Woodrow Wilson announced that it should be played at all official events. It was adopted as the national anthem on March 3, 1931.Francis Scott Key died of pleurisy on January 11, 1843. Today, the flag that flew over Fort McHenry in 1914 is housed at the Smithsonian Institution’s Museum of American History in Washington, D.C.For more information on this day in history, go here. Please enter your name here You have entered an incorrect email address! Please enter your email address here TAGSHistory ChannelStar Spangled Banner Previous articleBring the kids to Cookies & Milk with a CopNext articleGawande to speak at Florida Hospital Lecture Series Denise Connell RELATED ARTICLESMORE FROM AUTHORlast_img read more

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Casa Díaz / PRODUCTORA

first_imgArchDaily Photographs Architects: PRODUCTORA Area Area of this architecture project CopyAbout this officePRODUCTORAOfficeFollowProductsGlassStoneConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMexico CityDabasHouses3D ModelingMexicoPublished on February 10, 2012Cite: “Casa Díaz / PRODUCTORA” 10 Feb 2012. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogSinkshansgroheBathroom Mixers – Metropol ClassicVinyl Walls3MVinyl Finish – DI-NOC™ StonePartitionsSkyfoldVertically Folding Operable Walls – Zenith® SeriesPanels / Prefabricated AssembliesProdemaProdEx Wood Facade in the Aspen Art MuseumSealantsSikaRenovation of Zeitz MuseumSinksBradley Corporation USAVerge Coordinated Soap Dispenser and Faucet SetsWoodLunawoodThermo Timber and Industrial ThermowoodAcousticFabriTRAK®FabriFELT™ for Walls and CeilingsGlassDip-TechDigital Ceramic Etch PrintingWindowspanoramah!®ah! Ultra MinimalistEngineered Wood FlooringAustralian Sustainable Hardwoods (ASH)Australian Oak Engineered FlooringLouvers / ShuttersConstruction SpecialtiesSunshades – Airfoil LuxMore products »Read commentsSave想阅读文章的中文版本吗?Díaz住宅 / PRODUCTORA是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/206291/casa-diaz-productora Clipboard Year:  “COPY” Projects “COPY” Casa Díaz / PRODUCTORASave this projectSaveCasa Díaz / PRODUCTORA ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/206291/casa-diaz-productora Clipboard Area:  450 m² Year Completion year of this architecture project Photographs:  Paul Czitrom , Rafael Gamo Text description provided by the architects. This property adjoins a large lake in a small town situated a few hours from Mexico City. To take full advantage of the relationship with the surroundings, a system of elongated rectangular volumes was used, with one side of each completely open toward the lake. The sloping plot and the amount of surface to be realized led to the creation of three volumen stacked in a zigzag pattern, generating spacious open terraces and irregular, sheltered patios between them.Save this picture!© Paul CzitromRecommended ProductsWindowsOTTOSTUMM | MOGSWindow Systems – BronzoFinestra B40DoorsStudcoAccess Panels – AccessDorWindowsJansenWindows – Janisol PrimoEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEAFrom the street, the residence looks like a traditional construction; the use of roof tiles, wood, natural stone, and the plastered facade with small openings, grants it the regional character that is required by urban planning requirements. From the lake, the house is perceived as composition of rectangular elements with large glass surfaces; a series of typical modernist volumes, stacked in a dynamic configuration.Save this picture!© Paul CzitromProject gallerySee allShow lessWorkshop by Delugan Meissl at Ajman UniversityArticlesRomanian Convention of Architecture and Design (ROCAD) 2012Articles Share Houses Casa Díaz / PRODUCTORA 2011 Mexico Save this picture!© Paul Czitrom+ 35 Share CopyHouses•Mexico City, Mexicolast_img read more

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Casa Yos / Cañas Arquitectos

first_imgArchDaily Architects: Cañas Arquitectos Year Completion year of this architecture project Houses Costa Rica “COPY” Photographs:  Jordi Miralles, Ricardo Chaves Manufacturers Brands with products used in this architecture project Save this picture!© Jordi Miralles+ 17Curated by Danae Santibañez Share CopyAbout this officeCañas ArquitectosOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesGranadillaCosta RicaPublished on February 05, 2018Cite: “Casa Yos / Cañas Arquitectos” 05 Feb 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodHow to Design a Façade with AluProfile Vertical ProfilesSynthetics / AsphaltMitrexSolar RoofMetal PanelsAurubisCopper Alloy: Nordic RoyalPlumbingSanifloGreywater Pump – Sanifast®SWH190WoodLunawoodInterior ThermowoodMembranesEffisusAVCL Systems for FacadesSinksCosentinoBathroom Collection – Silestone® WashbasinsDoorsStudcoPocket Door Trims – CavKitWoodStructureCraftEngineering – Architectural & FreeformMetal PanelsRHEINZINKPanel Surface Finish – prePATINA-LineHanging LampsEureka LightingSuspended Lights – BloomMetallicsBaileyFacade Systems- I-Line Snap-On Feature ChannelMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/868571/casa-yos-canas-arquitectos Clipboard Casa Yos / Cañas Arquitectos “COPY” 2013 Photographs Year:  CopyHouses•Granadilla, Costa Rica Projects Casa Yos / Cañas ArquitectosSave this projectSaveCasa Yos / Cañas Arquitectos ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/868571/casa-yos-canas-arquitectos Clipboard Manufacturers: Highlights de Costa Rica, Leif PedersenStructural, Mechanical, Electrical Design:Cañas IngenieríaConstructora:Ingenieros Asociados S.A.Architects In Charge:Victor Cañas, Andrés Cañas, Sara ArayaCity:GranadillaCountry:Costa RicaMore SpecsLess SpecsSave this picture!© Ricardo ChavesRecommended ProductsDoorsECLISSESliding Pocket Door – ECLISSE LuceDoorsSaliceSliding Door System – Slider S20WindowsFAKRORoof Windows – FPP-V preSelect MAXEnclosures / Double Skin FacadesRodecaRound Facade at Omnisport Arena ApeldoornText description provided by the architects. Casa Yos owes its name to the existing tree which we surrounded by a deck, turning it into a focal point of the house’s composition.Save this picture!© Jordi MirallesThe terrain is located on the outskirts of San José, in the town of San Ramón de Tres Ríos, on the outer edge of a forest reserve that is not expected to disappear. The house is located on the edge of the lot that borders with the reserve.Save this picture!© Ricardo ChavesThe main intention of the design is quite simple and straightforward: to enjoy the forest that serves as a garden for the house.  Consequently, we designed an elongated construction in which every area of the house could have a view of the forest reserve.Save this picture!© Ricardo ChavesThe distribution of the spaces inside the house was done according to the owners’ instructions: an ample social area that includes a dining room and living room, and the very important kitchen. Also included in this area is an open-air terrace.  Save this picture!Floor PlanThe bedrooms are located on opposite sides of the construction: the parents’ bedroom is on one end and the children’s bedrooms are on the other end. This creates three distinct areas in the house.Save this picture!© Jordi MirallesWe took advantage of a slight grade slope in the terrain to build in smaller grade slopes that could work as transitions between the three areas.Save this picture!© Jordi MirallesThe roofing scheme responds to two basic criteria: the desired scale of the spaces and the visual aperture to the forest.Save this picture!ElevationThe house has two separate roofs : one large roof that originates in the main bedroom and rises up to it’s highest level over the terrace in front of the kitchen. This inclination, together with the grade slope on the floor, allows for an appropriate floor-to-ceiling height in proportion to the scale of a bedroom, even though the same roof yields a  larger scale in the social area. This roof has an ascending inclination in the direction of the forest in order to integrate the forest within the house. This effect is reinforced by the inclined window panes , which is another suggestion by the owners. The second roof, which stretches over the other bedrooms, has an inclination in the opposite sense, which reduces the scale and aperture of the space to accommodate the children.Save this picture!© Ricardo ChavesThe focal point of the house – and the space that is most frequently used by the family – is the wooden terrace.  Access to this area is through sliding glass doors that integrate the terrace with the kitchen and everyday activities. El Yos tree is a reference point that creates a space of its own within the terrace.Project gallerySee allShow lessMies van der Rohe by Edgar StachArchitecture BooksSnøhetta’s “A House to Die In” Goes Up for Public Display as the Project Faces Appro…Exhibition Sharelast_img read more

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The Conservatory / Nadine Engelbrecht

first_imgArchDaily CopyAbout this officeNadine Engelbrecht ArchitectOfficeFollowProductsGlassSteel#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesInterior DesignResidential InteriorsHouse InteriorsZwavelpoortSouth AfricaPublished on October 08, 2018Cite: “The Conservatory / Nadine Engelbrecht” 08 Oct 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogLouvers / ShuttersTechnowoodSunshade SystemsGlassMitrexSolar GreenhouseMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialCoffee tablesFlexformCoffee Table – GipsyCurtain WallsIsland Exterior FabricatorsPace Gallery Envelope SystemWoodSculptformTimber Battens in Double Bay HouseStonesCosentinoSilestone and Dekton in Villa OmniaBricksNelissenInner Wall Bricks – LückingPanels / Prefabricated AssembliesULMA Architectural SolutionsAir Facade PanelsWoodBlumer LehmannData Processing for Wood ProjectsEducational ApplicationsFastmount®Hidden Panel Fastener at Massey UniversitySealants / ProtectorsTOPCRETMicro-Coating – Baxab®More products »Save想阅读文章的中文版本吗?“半隐”南非草原上的温室住宅 / Nadine Engelbrecht是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/903293/the-conservatory-nadine-engelbrecht Clipboard CopyHouses, Houses Interiors•Zwavelpoort, South Africa Projects 2017 ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/903293/the-conservatory-nadine-engelbrecht Clipboard Photographs:  Marsel Roothman Manufacturers Brands with products used in this architecture project “COPY” The Conservatory / Nadine Engelbrecht Year: center_img Area:  600 m² Year Completion year of this architecture project Save this picture!© Marsel Roothman+ 27Curated by María Francisca González Share Photographs South Africa Houses “COPY” The Conservatory / Nadine EngelbrechtSave this projectSaveThe Conservatory / Nadine Engelbrecht Manufacturers: Bronk Joineries, Caroma, Forest Flooring, Status stones, Tsipe Engineering, Webber Floors, Yebo Windows & DoorsStructural Engineer:Petra van EckLandscape Architect:Nandi KosterMain Contractor:Hans Boersema Boukontrakteurs BKClient:Andre and Charmaine FreyerBudget:R 5 000 000, 00Lead Architect:Nadine EngelbrechtCity:ZwavelpoortCountry:South AfricaMore SpecsLess SpecsSave this picture!© Marsel RoothmanText description provided by the architects. The principal requirement of the project consisted of creating a retreat for its occupants from a hectic urban lifestyle. The client obtained an underutilised 35 hectare farm outside of Pretoria with magnificent views. The house had to have a strong relationship with its immediate landscape and living spaces had to embrace the surroundings, breaking away from conventional space allocation.Save this picture!© Marsel RoothmanSince the main portion of the house would be inhabited by only two permanent users, they requested spacious volumes and dwelling spaces to be located on a single storey. Guest suites would be separate and not integrated into the circulation of the main house.Save this picture!© Marsel RoothmanSloped natural grasslands and majestic views informed the design of a dwelling partially submerged in the hill. Veld grasses are allowed to flow continuously onto a portion of the roof and vegetation permeates the interior through a conservatory placed at the core of the building. Habitable spaces are oriented around the conservatory to make optimal use of surrounding views.Save this picture!© Marsel RoothmanSave this picture!Sections + ElevationsSave this picture!© Marsel RoothmanAt the heart of the building, the conservatory is intentionally designed to be context specific with solid and translucent roof sheeting and sufficient insulation to optimise passive climate control. In winter the conservatory is configured to allow solar penetration while keeping cold air out. This passive heat is released into the adjoining living spaces by opening the desired partitions. In warm summer months an automated glass façade opens up the conservatory to creating an outside patio which allows natural cross ventilation to flow constantly though the house.Save this picture!© Marsel RoothmanEnergy and water requirements are met completely “off-grid”. Materials chosen for durability and low maintenance include cement washed bricks, exposed steel and concrete soffits. The industrial use of building materials continues to the interior closets, cupboards and kitchen.Save this picture!© Marsel RoothmanUpon entry of the conservatory a glass floor allows a glimpse into the wine cellar below, accessible only via a seamlessly integrated trap door. The main bedroom is located on the challenging western side of the house to enjoy bird watching into the tree canopy and brilliant sunset views. The large overhanging patio and timber shutters assist in eliminating unwanted afternoon sun. The remainder of spaces remain oriented north with optimal overhangs to ensure climate comfort throughout seasons. Seldom used guest suites are separately treated on the lower ground area with a private entrance and outdoor space.Save this picture!© Marsel RoothmanProject gallerySee allShow lessToni Areal Roof Garden / Studio Vulkan Landscape ArchitectureSelected ProjectsReturn Café / Atelier FANZHENGSelected Projects Share Architects: Nadine Engelbrecht Architect Area Area of this architecture projectlast_img read more

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Main Evening News, Sport, Nuacht and Obituaries Friday 6th April

first_img Derry draw with Pats: Higgins & Thomson Reaction WhatsApp Main Evening News, Sport, Nuacht and Obituaries Friday 6th April Twitter Google+ RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Main Evening News, Sport, Nuacht and Obituaries Friday 6th April:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2018/04/06news.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Twitter Harps come back to win in Waterford center_img Google+ FT Report: Derry City 2 St Pats 2 Previous articleLough’s Agency concerned at trout escapeNext articleAmber Barrett fires Ireland to victory: FT Report News Highland AudioHomepage BannerNews News, Sport and Obituaries on Monday May 24th Pinterest Journey home will be easier – Paul Hegarty DL Debate – 24/05/21 By News Highland – April 6, 2018 WhatsApplast_img read more

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The Rise of the #T-MOOC (Twitter MOOC) – India HR Chat | India HR Chat

first_imgThe Rise of the #T-MOOC (Twitter MOOC) – India HR Chat | India HR ChatShared from missc on 16 Apr 2015 in Personnel Today “Massive open online courses (MOOCs) have gained tremendous popularity over the last couple of years. The New York Times dubbed 2012 -‘The Year of the MOOC,’ and it has since become one of the hottest topics in education. “Read full article Previous Article Next Article Comments are closed. Related posts:No related photos.last_img read more

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Muscle structure and differentiation in pelagic and demersal stages of the Antarctic teleost Notothenia neglecta

first_imgThe distribution and fine structure of muscle-fibre types has been determined for the pelagic fingerling and demersal adult stages of the antarctic teleost Notothenia neglecta Nybelin, collected from Signy Island, Antarctica, between January and February 1984. In both stages, the pectoral fin adductor muscle (m.ad.p) is largely composed of slow fibres which contain abundant mitochondria (34 to 36%). During development, the ratio of capillaries to fibres increases less than does fibre diameter, so that capillary density is significantly lower in the m.ad.p of adults (498 mm-2) than fingerlings (1 727 mm-2). The secondary metamorphosis from a pelagic to a demersal mode of life is associated with the disappearance of subcutaneous lipid sacs and major changes in the distribution and structure of muscle fibres in the myotomes. The trunk cross-section of adult fish is almost entirely composed of poorly vascularised fast-muscle fibres (100 capillaries mm-2), which contain densely packed myofibrils (86.3%), and have few mitochondria (1.4%). Slow-muscle fibres in adults are restricted to a thin wedge adjacent to the lateral line canal. In contrast, slow fibres occur around the entire circumference of the trunk in fingerlings representing 24% of the total cross-sectional area at the post-anal level. Volume densities (%) of mitochondria, intracellular lipid and myofibrils in this tissue are respectively 37.0, 7.9, 38.6 for fingerlings and 13.1, 0, 70.3 for adults. Slow-muscle fibres in adult fish are of unusually large diameter (50 to 120 μm) and have relatively low capillary densities (266 mm-2). These morphological changes reflect a general decrease in activity and a shift from a sub-carangiform to a labriform mode of swimming following transition from the fingerling to adult stage of the life cycle. The results are briefly discussed in relation to the physiology and ecology of antarctic fish.last_img read more

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Utah State cruises past Mississippi Valley State, 94-59

first_img Associated Press Written by Tags: Utah State Aggies Basketball FacebookTwitterLinkedInEmailLOGAN, Utah (AP) — Brock Miller hit six 3-pointers and put up 26 points as Utah State boosted its record to 3-0 with a 94-59 win over Mississippi Valley State Tuesday night.The Aggies scored 100 points or more in the first two games of the three-game home stand to start the season, the first time in program history. Against the Delta Devils, they shot 29 of 50 from outside (58 percent), including 11 of 21 from distance (52.4 percent).Utah State took a commanding lead in the first half, taking a 53-24 advantage into intermission.Sam Merrill had 18 points and John Knight III added another 12 for Utah State.Mississippi State, which has lost all three of its games on the road to start the season, got 29 points from Jordan Evans, who hit 8 of 11 from behind the arc. Dante Scott added another 20. November 13, 2018 /Sports News – Local Utah State cruises past Mississippi Valley State, 94-59last_img read more

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Carter’s career-high 18 carry Washington over Utah, 69-53

first_imgJanuary 10, 2019 /Sports News – Local Carter’s career-high 18 carry Washington over Utah, 69-53 Associated Press Following his season high of 23 against Washington State last week, Crisp had a no-hesitation release even when closely guarded. Utah led 15-13 before Crisp buried four straight 3s. Since Pac-12 play began, the Huskies have suddenly found their touch from beyond the arc, hitting 41 percent. Washington continues their mountain swing at Colorado Saturday night. UP NEXT Jaylen Nowell and Noah Dickerson, Washington’s leading scorers, had a combined two points at halftime and yet the Huskies led 38-30. The Huskies made a concerted effort to feed Dickerson on the post and he responded with seven straight points to open the second half and Washington led by 15. A rare Utah 3-pointer by Sedrick Barefield got the Utes back within 47-42, but the Huskies ratcheted up the pressure once again and went on a 12-0 run, capped by Carter’s jumper to make it 59-42. BIG PICTURE Written by The Huskies’ quick hands and length created dozens of deflections, forced 16 turnovers and nine blocked shots. The Utes were determined to pass into the middle of the zone but even when the ball got there, they often couldn’t navigate the gauntlet of collapsing defenders.center_img Utah: The Utes hoped to capitalize on their strong opening weekend showing in Arizona when they beat Arizona State and took the Wildcats to overtime before losing. But some of their offensive struggles resurfaced and they could never get comfortable operating against the Washington zone. After scoring 33, 24 and 26 points, Barefield managed just six points on 2-of-10 shooting and no other Utes were able to get a rhythm. Crisp was 5 of-7 and Carter 3 of 4 from beyond the arc and the Husky defense held the Utes to season low in points. FacebookTwitterLinkedInEmailSALT LAKE CITY (AP) — Nazieh Carter scored a career-high 18 points and David Crisp added 17 points to lead Washington over Utah 69-53 on Thursday night. Both teams were knocked from their normal offensive flows by the defensive pressure at times. The Utes also played man-to-man defense but the Huskies stuck with their trademark zone and extended it to chase the Utes off the 3-point line or force awkward attempts. Jayce Johnson led the Utes with 12 points before leaving the game in the final minutes after getting hit in the face and falling to the court. Donnie Tillman had 10 for the Utes, who missed 24 of their 30 3-point attempts. Utah hosts Washington State on Saturday night. Washington won its first true road game and has now logged four wins in a row, snapping Utah’s six-game winning streak in the series. Washington: The Huskies rely on defense and they smothered the Utes and reversed their usual struggles in Utah, snapping a five-game losing streak in Salt Lake City. If the Washington perimeter shooters can extend their recent hot shooting and pair it with Dickerson’s low-post scoring, then the Huskies have a good chance of staying near the top of the Pac-12 standings. Tags: Pac 12/Utah Runnin’ Utes Basketballlast_img read more

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Fossil fuel profits primed for $25tn drop as demand stutters and risks grow

first_imgAcceleration beyond peak fossil-fuel demand adds to existing pressure on future profitsCarbon Tracker energy strategist Kingsmill Bond, who authored the research, said the findings demonstrate the “decline and fall” of the carbon industry, with the impact of Covid-19 accelerating the move beyond peak demand.He added: “This is a huge opportunity for countries that import fossil fuels, which can save trillions of dollars by switching to a clean energy economy in line with the Paris Agreement.“Now is the time to plan an orderly wind-down of fossil-fuel assets and manage the impact on the global economy rather than try to sustain the unsustainable.“Technological innovation and policy support is driving peak fossil-fuel demand in sector after sector and country after country, and the Covid-19 pandemic has accelerated this. We may now have seen peak fossil fuel demand as a whole.” Coronavirus has accelerated the demand decline of fossil fuels (Credit: Wikimedia Commons/US National Archives and Records Administration/John Messina) A huge financial crisis is looming for fossil fuel industries, with profits poised to fall by two-thirds amid climate-related investment risks and the impact of coronavirus on global energy demand, according to a new report.Future earnings derived from international oil, gas and coal reserves could shrink to $14tn – a $25tn drop – warns thinktank Carbon Tracker, which suggests the time of peak fossil-fuel demand may have now passed.This financial decline may have significant implications for the wider global economy, given the sheer size of the fossil fuels system which accounts for a quarter of the total value of global equity markets – with companies across the sector worth $18tn – and physical supply and demand infrastructure worth $32tn. New analysis suggests coronavirus has accelerated the shift beyond peak fossil-fuel demand, dealing a blow to the industry’s future profitability as clean energy gains momentum Carbon industry is undergoing ‘structural change’The report cites Royal Dutch Shell’s recent dividend cut, bankruptcies in the US shale industry and Repsol’s decision to write off €4.8bn ($5.4bn) of assets last year as part of its net-zero strategy all to be “symptoms of an industry undergoing structural change”.It adds that the growth of renewable alternatives competing more frequently with fossil fuels on both price and scale, as well as an expected 2% year-on-year decline in global demand for carbon products in line with the Paris agreement, will serve to put huge pressure on existing financial models within the industry.“Many companies will be forced to write off assets, cancel investment or even go bust. Even companies which remain profitable will make far less money than before,” the analysis states.“Investors will be hit because as returns fall, there will be less capital available for dividends and interest payments. Markets might sell down stock in anticipation of peak demand long before assets are written down.”Many countries around the world have begun devising climate policies to penalise heavy emitters in the push for net zero, attaching an extra layer of risk to investment in an industry that is already under significant pressure to decarbonise. Demise of fossil fuels could destabilise developing economiesCountries whose economies are heavily dependent on export revenues from carbon products – particularly less-developed petrostates such as Venezuela, Ecuador, Libya, Algeria, Nigeria and Angola – face a risk of financial instability as these trends play out over the coming years.It is an issue recently highlighted by the International Energy Agency (IEA) and Opec, which warned underdeveloped oil-exporting nations would be most impacted by the recent collapse in oil prices amid the pandemic, highlighting the need to diversify.The IEA recently suggested coronavirus is expected to trigger a $400bn annual decline in investment across the entire energy industry during 2020, with the oil and gas sector accounting for the deepest cuts – almost a third, year-on-year – and spending on coal falling by a quarter compared to 2019 levels.While renewables will also take a hit, the slowdown will be less severe, according to the watchdog, and with strong calls emerging for a “green transition” to be built into post-pandemic economic recovery packages, there is significant potential for new policy introductions that will further squeeze the fossil fuels industry.last_img read more

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