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PROOF: Obama IS the end of the free world
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nw30



Joined: 21 Dec 2008
Posts: 1333
Location: The eye of the universe, Cen. Cal. coast

PostPosted: Wed Jul 03, 2013 8:07 pm    Post subject: Reply with quote

pueno wrote:
Mr. Fick-shun wrote:

Flashlight beams don't penetrate very far into the depths of a porta potty.

Which beautifully explains why so few people understand your thinking, Mikey.

Many would say that "you don't know shit."

I say they're wrong -- you really do know shit.
.

I don't agree with everything he says, but seriously, why are you here?
BTW, I won't respond to your answer, I have my limits.

_________________
I don't drink the 'cool' aid, I drink tequila, it's more honest.
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pueno



Joined: 03 Mar 2007
Posts: 2358

PostPosted: Thu Jul 04, 2013 5:43 am    Post subject: Reply with quote

nw30 wrote:

BTW, I won't respond to your answer, I have my limits.

Mr. Turdy...... very thoughtful of you to not respond by responding.

Whoever said you guys were hypocrites?

Meanwhile, pick up Mikey's flashlight, shine it in the mirror, look deep into your eyes, and study the idiotic non sequitur of your comment.
.
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isobars



Joined: 12 Dec 1999
Posts: 13294

PostPosted: Tue Sep 17, 2013 11:53 am    Post subject: Reply with quote

From the WSJ at http://tinyurl.com/q77h4tu :
<<<Crushing Pebbles
The EPA causes Anglo-American to walk away from a U.S. investment.

If you want to know how the threat of regulation undermines economic growth, consider Monday's decision by British mining giant Anglo-American to withdraw from the Pebble Partnership to develop North America's richest copper and gold deposit in southwest Alaska.

The investors haven't even made a formal proposal, but the EPA had threatened to issue a pre-emptive veto even before the traditional approving authorities in the state of Alaska and the Army Corps of Engineers had weighed in. The EPA typically regulates projects once they are approved, but in the Obama Administration such notions of regulatory restraint are considered quaint.

Anglo-American got the message ... The company will be walking away from the $541 million it has already invested in the project. ...

This is merely one [big] example ... of the thousands of ways that Washington crushes private investment and job creation every day.>>>
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pueno



Joined: 03 Mar 2007
Posts: 2358

PostPosted: Tue Sep 17, 2013 12:02 pm    Post subject: Reply with quote

Mr. Fick-shun wrote:

This is merely one [big] example ... of the thousands of ways that Washington crushes private investment and job creation every day.>>>

Yes, yes, Mikey....... just the like the thousands of ways that antibiotics crush fatal bacterial infections every day.
.
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capetonian



Joined: 11 Aug 2006
Posts: 883
Location: Oahu

PostPosted: Tue Sep 17, 2013 12:25 pm    Post subject: Reply with quote

isobars wrote:
From the WSJ at http://tinyurl.com/q77h4tu :
<<<Crushing Pebbles
The EPA causes Anglo-American to walk away from a U.S. investment.

If you want to know how the threat of regulation undermines economic growth, consider Monday's decision by British mining giant Anglo-American to withdraw from the Pebble Partnership to develop North America's richest copper and gold deposit in southwest Alaska.

The investors haven't even made a formal proposal, but the EPA had threatened to issue a pre-emptive veto even before the traditional approving authorities in the state of Alaska and the Army Corps of Engineers had weighed in. The EPA typically regulates projects once they are approved, but in the Obama Administration such notions of regulatory restraint are considered quaint.

Anglo-American got the message ... The company will be walking away from the $541 million it has already invested in the project. ...

This is merely one [big] example ... of the thousands of ways that Washington crushes private investment and job creation every day.>>>


As a shareholder of Anglo American I applaud their decision to walk away. They (Anglo) over committed their capital during the commodities boom on way too many projects. Considering their already high debt levels, their credit rating would have been downgraded if they had not cut back on this and other capital projects. I have no doubt that the Pebble Project will be built, the state of Alaska is 100% behind the project. However since the world copper supply is forecast to be in surplus for the next 5 years, and possibly longer if all the planned projects such as Pebble are built, delaying this project is the best possible outcome for the existing copper producers.
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coboardhead



Joined: 26 Oct 2009
Posts: 1849

PostPosted: Tue Sep 17, 2013 12:31 pm    Post subject: Reply with quote

There always seems to be more to the story..thanks Capetonian.
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swchandler



Joined: 08 Nov 1993
Posts: 5462

PostPosted: Tue Sep 17, 2013 12:33 pm    Post subject: Reply with quote

I wonder how isobars feels about all the coal dust that is being liberally showered on residents and recreationalists along the Columbia River Gorge. I'm sure that many of them would welcome an EPA decision to monitor and ultimately reduce the dirty and unhealthful impacts in the transportation of coal. Is isobars a bleeding heart for the coal and railroad industries and their desire for profit?
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isobars



Joined: 12 Dec 1999
Posts: 13294

PostPosted: Tue Sep 17, 2013 1:10 pm    Post subject: Reply with quote

capetonian wrote:
I have no doubt that the Pebble Project will be built, the state of Alaska is 100% behind the project. However since the world copper supply is forecast to be in surplus for the next 5 years, and possibly longer if all the planned projects such as Pebble are built, delaying this project is the best possible outcome for the existing copper producers.

Let's hope so. However, the other partner, Northern Dynasty, doesn't have the funds to develop the project, which was never intended to start production before 2021 anyway.

Besides, the point of the article I cited was neither copper nor Anglo American. Instead, it was the Obama administration's misuse of the EPA to circumvent the normal regulatory processes when laws and regulations impair his agenda. That malfeasance is hindering economic recovery far beyond copper, Alaska, or one big corporation. Thus this thread.

There's always more to the story.
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mac



Joined: 07 Mar 1999
Posts: 4655

PostPosted: Tue Sep 17, 2013 1:37 pm    Post subject: Reply with quote

There's always more to the story. EPA can do nothing that Congress has not told it to do. Protecting wetlands and requiring mitigation are part of that mandate. But then Iso sometimes misquotes, and often misunderstands, the underlying facts.
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capetonian



Joined: 11 Aug 2006
Posts: 883
Location: Oahu

PostPosted: Tue Sep 17, 2013 2:22 pm    Post subject: Reply with quote

isobars wrote:
Northern Dynasty, doesn't have the funds to develop the project

I will only address the part of your post where I have something worth adding. You are 100% correct, Northern Dynasty has about $20 million cash vs. an expected cost to build of $5 billion. However Anglo and Northern Dynasty have already spent over $500 million derisking the project (drilling to prove up reserves, conducting environmental impact studies, etc). This project is the largest undeveloped copper and gold resource in the world, with a probable mine life well in excess of 50 years. The project has a net present value (i.e. future revenues less future operating costs and all capital costs to build project and maintain it) of between $6 billion and $16 billion depending on how aggressive one is with mining cost assumptions and future commodity prices. So getting this project built depends on how greedy Northern Dynasty management is. They could give up a big share to BHP or RIO (say 75%) in return for funding their share of the capex, or they could play hardball in which case BHP will buy the asset out of bankruptcy at some point in the future. BHP thinks strategically with a >20 year time horizon, and with that time horizon this is a very attractive asset, certainly better than Rio Tinto's Oyu Tolgoi mine.

RIO already owns 18% of Northern Dynasty, maybe this will become the next RIO project once the Mongolian government nationalizes 100% of Oyu Tolgoi from them?
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