Moody’s downgrades U.S. coal sector, expects ‘substantial’ decline in demand FacebookTwitterLinkedInEmailPrint分享Utility Dive:Moody’s Investors Service on Wednesday downgraded the North American coal sector to a “negative” outlook, citing an expected 3% decline in earnings in the second half of 2019 and a slide in profitability over the next year to 18 months.The ratings firm pointed to a “substantive decrease in export prices” for thermal coal, particularly in Europe, combined with a likely struggle for producers to find buyers in 2020. The downgrade is a shift from July, when Moody’s said the outlook remained “stable” despite declines in coal-fired generation. The firm predicted at the time coal-fired power could decline to just 11% of the United States’ electricity by 2030.Coal generated more than a quarter of the United States’ electricity last year, according to the U.S. Energy Information Administration, but the fuel is in rapid decline. “A confluence of economic, environmental and social factors also increase our concerns about the industry’s longer-term demand prospects, as pressure on the industry is mounting,” Moody’s said in its note. That will make “numerous coal mines uneconomic in a reduced demand environment, especially smaller, higher cost mines that are highly vulnerable to retirement of specific coal-fired power plants.”Moody’s said its long-term outlook for U.S. thermal coal “calls for a substantial volume reduction over the next decade driven by utilities switching to natural gas and renewable energy.”Just a decade ago, coal made up about half of the United States’ electric generation. In April, EIA announced renewable energy resources, including hydroelectricity, were on pace to generate more electricity than coal-fired plants for the month. That was a first, according to the Institute for Energy Economics & Financial Analysis. While there were seasonal factors at play, the group said it represented “signs of a tipping point” in the country’s generation mix.More: Coal sector outlook drops from ‘stable’ to ‘negative’: Moody’s
Black Stars forward, Torric Jebrin has called on government to come to the aid of players who ply their trade in the DR Congo because they are stranded due to COVID-19 restrictions.According to the former Hearts of Oak midfielder who plies his trade for Congolese outfit TP Mazembe, the players have been struggling to feed themselves and also pay rent because they are cash-strapped, having footed all bills since football activities were halted in Congo four months ago.In an interview with Accra-based Angel 102.9FM, the talented Ghanaian international called on the ruling government to help evacuate them since the place is not safe to live at the moment due to party politics.“We are stranded here in Dr Congo Our money and food is finished.We don’t have food to eat. We can’t afford to pay our rents so we have all moved to leave with one of our colleague in one room. We plead with gov’t to come to our aid,” Torric Jebril said.A similar situation has been reported in Ethiopia after a video of Ghanaian players went viral Tuesday morning.Former Black Stars player Lee Addy and former Asante Kotoko goalkeeper Muntari Tagoe as well as other players were seen in the video appealing to government to come to their aid.The Ghana Football Association has since liaised with the Sports Ministry to start process to fly them back to Ghana.
Madam Jamilah Sedee, a Liberian woman who has accused her ex-husband, Mohammed Sedee Falee, of kidnapping her three children in Mauritania in 2011, last week testified at Criminal Court ‘A’ at the Temple of Justice.Defendant Falee is being tried on charges of kidnapping and if he is convicted he could spend almost the rest of his life in prison. Interestingly he is on a bail.He was arrested in early 2014 in Gbarpulo County after the head of Interpol in Sierra Leone requested the Liberian government to do so and turn him over to that country to stand trial there.The request was rejected by Charles B. Blake, Deputy Commissioner of the Liberia National Police (LNP) and head of Interpol in Liberia.It was Comm. Blake’s refusal to extradite Falee that led to his indictment by the Grand Jury of Montserrado County, where he is currently standing trial.But, Madam Sedee’s testimony detailed how one of her ex-husband’s sons took them from Sierra Leone, where her children were schooling, to Mauritania, before the children were taken away from her by Falee.In her testimony, she alleged that one day as her family was enjoying their stay in Sierra Leone, one of her ex-husband’s children, whose name she did not mention, told her that he wanted to take them to Mauritania for a visit.According to her, when she refused to follow him with her children, he left and later came back after a month with the same request. “I said no again.”“When he came back for the second time,” she said, “he continued to talk to me about travelling and I said no.”At that point, she alleged, her ex-husband’s son asked her why she didn’t want to go. “I answered him that it was because my children were in school.” “I said I didn’t know the place and it was far away from my country, Liberia and I didn’t know anybody there,” she added.Madam Sedee quoted Falee and his son saying, “we were not going to stay but to go and see the family.”“So they promised me that after seeing the family I was going to come back, but what I started seeing was different from what they had earlier told me. “Not knowing they were deceiving me, they started manhandling my children while we were there and I told them that I didn’t like that.”She told the court that while they were in Mauritania, she received a call from her family in Guinea about the death of her father.“When I received the news from my brothers in Liberia about the death of our father, I left my ex-husband and the children and went for the burial in Guinea. Unfortunately, when I came back to Mauritania I could not see my children and their father anymore,” Madam Sedee told the court.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)