Posted on 04/08/2022 9:11:34 AM PDT by Oldeconomybuyer
[NOTE: Rio Tinto Group is the world's second-largest metals and mining corporation]
LONDON, April 8 (Reuters) - Rio Tinto on Friday said climate change was central to its new strategy at its first in-person annual general meeting (AGM) in two years in London, after shareholders demanded the miner set clear targets to cut indirect emissions.
Chief Executive Jakob Stausholm said the company had committed to increasing research spending to develop technologies enabling its customers to decarbonise, and highlighted its investments in renewable power.
"Climate change... is the defining issue for our age, and is at the heart of our new strategy," Chairman Simon Thompson said at the meeting.
The company recorded its best ever annual profit in 2021 and gave shareholders a record full-year dividend of $16.8 billion, boosted by higher iron ore prices and strong demand from top consumer China. Rio also resolved a long-standing dispute with Mongolia to advance its huge Oyu Tolgoi copper project.
Its reputation has however suffered from a report it published in February laying bare bullying, racism and sexism in the company, and the shutdown by the Serbian government of its lithium project in the country.
(Excerpt) Read more at nasdaq.com ...
Climate change has been happening since the beginning of time and man has nothing to do with it.
Did man cause the end of the last ice age?
OMG. I wonder if someday, the imbeciles and charlatans will be out of power, hopefully never to return.
It’s difficult seeing such a venerable old company turn into a frightened school girl.
No metals-No electric cars-no electricity.
Oh have you not noticed how there is NO CHIP SHORTAGE when it comes to EVs?-)
No worries, there’ll be a ChiCom company to take-up the slack...with 10% going to a certain unnamed US politician.
Actually there is. That's one of the things holding back Ford on the F-150 Lightning and Mustang Mach-e production.
Maybe Ford has ponied up to paying their share of the Dem Fascist Reelection fund.
HAS NOT
Do I like the Dims jacking up energy prices? Nope. Do I believe in climate warmageddon? Nope. But I believe the Dims are using energy costs to control us. And since I can't drill my own natural gas (IMHO the most efficient of energy sources) I went solar 11 months ago. This past year my solar system provided 56% of all the power I needed in my two-story all-electric home. I no longer worry about natural gas prices. I worry about half as much as I used to about power prices. I'd like to extend that to include energy costs for driving. Ford making an affordable EV pickup is part of completing my move from the Dims being able to monkey with energy costs as I soon transition into retirement and try to keep inflation from eating away my retirement investments. I can't control all inflation, but I can make energy inflation a non-issue for me. And Ford is helping make that happen.
Funny. America has “seventeen intelligence agencies” that hate President Trump and not one of them has ever investigated the environmentalists’ “climate change” scam being used against the U.S. Taxpayers by the commie liberal scam artists.
I was referring to the end of the last ice age 15,000 years ago.
There is another one coming and we will be powerless to stop it.
All the pension fund and ETF stocks get voted by Vanguard, Blackrock, etc, and they are all woke.
So you are getting the Pro model with not 1 upgrade I assume.
Also the cheapest Solar install throughout the states is $13K so how long will it take to get your ROI. Hopefully before you need to put a new set up.
If I get no solar upgrade or EV, my current system will pay for itself on about the 10th year. (Mine will "pay for itself" maybe the beginning of the 9th year, but that has to do with a little investing.)
I used a HELOC to pay for virtually all of it -- no up front cost as far as my budget and savings goes. My HELOC payment + power bill is over the $300/month I was paying in 2019 for power bill + natural gas (using 2019 as a standard since it was before covid and Brandon). Whatever I pay for HELOC + power bill that's over $300, I take out of the HELOC (which makes my HELOC balance go up). But my HELOC payment pays down the balance more than what I pull out -- thus my HELOC balance slowly goes down. As the HELOC balance goes down so does my HELOC payments. About a year from now (around the 2 year anniversary of getting the system) my HELOC + power bill will start averaging $300/month -- what I was paying for home energy before covid and Brandon. Thus I would achieve my 1st goal of going solar -- stable energy budget without worrying about inflation (at least not energy inflation).
For each month I pay less than $300, I'll put the difference into an investment account I made just for setting aside my savings from solar to one day maintain or upgrade the system. That's where I'll also put my solar tax credit when I get it refunded me sometime soon. That's also where I put the money I made selling my old used natural gas appliances when I replaced them with highly efficient electric ones (variable speed heat pump to cool and heat the house, hybrid water heater). Doing that month by month will result in my solar investment account equaling what I still owe on the HELOC near the end of the 9th year. By the way, that assumes a 3% rise in energy rates (thus my power bill going up by 3% a year starting now) and a gradual decline in solar production (solar panels have a 25 year warranty still operating at 70% near the end, batteries have a 19 year warranty still operating at 50%).
Wash, rinse, repeat with doing the solar upgrade and getting an EV and the entire project will pay for itself on the 11th year. That accounts for me making car payments for the first time in decades (I usually drive an old used pickup truck and replace it every 5 to 7 years), paying more for car insurance (comprehensive coverage vs liability), not buying gas for 15 mpg (old used trucks, remember), but needing more power (needing about 16kWh per day on average to drive ~200 miles per week), having to charge it on average once every 3 to 4 days (thus no need to charge it on a rainy day unless I have 3 rainy days in a row), no oil changes, but replacing the EV battery on the 10th year, yet no replacing a used pickup truck with another one every 7 years. And all of that calculated with an inflation rate factor of 3% (I know, the real inflation is a lot higher which will make the savings even more). What I'm counting as breaking even are car repairs: a new EV will need repairing much less frequently, but when it needs repairs each repair job will cost more than a repair job on a used gas pickup, but the gas pickup needs repaired more often.
I used a spreadsheet to calculate all of that before buying -- I assumed a 90% throughput from the brochure versions of what the solar and battery manufacturers said would happen, based on average peak hours per month for my zip code, and studying a year's worth of my power bills and natural gas bills. My assumptions were almost spot on (patting myself on the back).
I study the throughput in reality with a data dump from my solar inverter that I import into a SQL database (the kind of thing I do for a profession). Every time I get a power bill I add that to a table in the DB with then # of kWh bought that month, the date range of that power bill's "month" (meter reading date), and the total charged. I subtract from that the $14.50 base rate (charged by my power company no matter how much power I buy) + 75 cent energy rider (another flat monthly fee) + 4% state tax (total $15.86) and any amount of my bill above that is considered my overall usage rate for the month. Divide that by the kWh bought on that bill and I have the true power rate (last month was 13.36 cents per kWh) not the rate the power company advertises (10.6 cents per kWh). Since my solar inverter tells me how much power I consumed per day, my DB query sums up the kWh consumed for that month minus the kWH the power bill says I bought = the total kWh I saved that month with solar. Multiply that by the true rate and I know the dollar amount I save each month.
Nice!!!
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