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NEWS via BloombergBusinessWeek: Megadams Are Dismal Investments

March 22, 2014 // 0 Comments

Megadams Are Dismal Investments By Blake Schmidt March 13, 2014 Photograph by Taylor Weidman/Zuma Press Indigenous Munduruku men at the quarry site for Belo Monte It’s hard to overstate the massive proportions of Belo Monte. When completed, it will be the world’s third-largest dam. Set in the heart of the Brazilian Amazon, it will funnel water through 18 turbines, each with the diameter of the Space Shuttle. When the last one is switched on in 2019, Belo Monte will have a capacity of 11,233 megawatts—enough to supply power to 40 percent of Brazil’s households. Construction crews, which began work in 2011, will have to dig up almost twice as much dirt as was removed to build China’s Three Gorges Dam, and truck in enough steel to build 16 Eiffel Towers, according to the dam’s developers. About 26,000 laborers toil in shifts around the clock. Massive is a word that also applies to the hydropower project’s price. Norte Energia, the consortium awarded a 35-year concession [...]

NEWS via ABQjournal: Mexican economy’s growth in overdrive

March 19, 2014 // 0 Comments

Mexican economy’s growth in overdrive By Jerry Pacheco / For the Journal PUBLISHED: Monday, March 17, 2014 at 12:05 am The current economic situation in Mexico reminds me of what was going on in this country in the early 1990s. At that time, Mexico had fully committed to opening up its economy and opting for trade liberalization. It had a young president who was openly supportive of commerce and of foreign direct investment in his country. A wave of privatization, reversing the trends in the 1980s, was sweeping the country as it opened up its telecommunications and financial industries. The North American Free Trade Agreement was implemented in 1994 and Mexico was going full steam ahead to create a modern economy. Perhaps more than anything, there was a spirit of change and excitement in the air. Fast-forward 20 years and this same feeling seems to be in the air, as the Mexican economy grows and change is happening daily. Since taking office at the end of 2012, Mexican President [...]
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