MACKAY, Australia (AP) — The Australian mining boom built over a decade on Chinese hunger for energy and raw materials is turning into bust for many business owners as China's cooling growth reverberates through a country accustomed to winning from the rise of an Asian economic giant.
BEIJING (AP) — Voracious demand for wood to feed factories for exports and satisfy wealthier consumers at home has turned China into a magnet for the illegal timber trade, causing other countries to strip their forests as Beijing does little to discourage the practices, an environmental group said in a report released Thursday.
The Australian government pushed a new 30 percent tax on big mining companies through Parliament on Monday but faces an uphill battle to reduce the tax burden on struggling companies outside the booming commodities sector.
The Senate passed the legislation 38 votes to 32, allowing the government to take a bigger slice of profits from a mining boom driven by Chinese and Indian demand for raw materials.
A host of influential Democratic politicians and policymakers descend on Las Vegas Thursday to attend the National Clean Energy Summit backed by Sen. Majority Leader Harry Reid, headlined this year by likely presidential candidate Hillary Clinton, National Journal reports.
SolarWorld is asking the Commerce Department to look into claims that the Chinese military hacked into its computers, suggesting that tariffs could be imposed in retaliation for cyberattacks, The New York Times reports.
Weak factory data in China and Europe weighed on oil prices Tuesday. U.S. benchmark crude for October delivery, at $95.23 a barrel in electronic trading on the Nymex, was 73 cents lower than Friday’s close, while in London Brent crude dropped 87 cents to $101.91, Reuters reports.
In a study examining 100 water wells across the Barnett Shale last year, University of Texas researchers reported finding what could be unhealthy levels of arsenic, although an industry spokesman expressed doubt that drilling would be responsible, the Denton Record-Chronicle reports.
Sonoma County is at the forefront of a movement gaining traction in a number of places around the country: Local governments going into the business of generating clean energy for their residents, the Los Angeles Times reports.
A report for the Maine Technology Institute – commissioned by a man since fired by Gov. Paul LePage – found that the alternative energy sector holds the promise of generating jobs when backed by seed money and investment, according to the Portland Press Herald.
An analysis from the World Resources Institute says 38 percent of the world’s shale gas and oil reserves are located in areas with limited water supplies and concludes that may limit the global development of fracking, FuelFix reports.
Ahead of Toyota’s intended launch next year of a hydrogen fuel cell-powered car, an affiliate of the company has started construction on a hydrogen filling station in Nagoya, Japan, The Wall Street Journal reports.