I agree Gecko. This is a global problem and we need to address it globally. Even if Drax eventually manages to capture some of the carbon from combustion of the pellets it wouldn't address the carbon from pellet production and transportation. Although Canada generates 60% of its electricity from hydro, it still burns some gas and coal. Better to burn the biomass sourced in Canada in Canada. That being said, if the Drax power station was in Canada, there would still be issues.
We have one chance to fix this problem, but too many organisations are wasting resources trying to make money from appearing to be green. I worry that in 10 or 20 years time, we will have squandered our resources on greenwashed projects and will still be emitting too much carbon. |
The Danish government is about to instruct Orsted to resume generating from 3 power stations that will be oil and coal fired.
Germany continues to burn lignite & coal.
Meanwhile Brussels is investigating whether wood fired stations are green or not, which is yet another common interest that the BBC shares with Europe at the expense of the UK. |
Shipping tonnes of wood pellets (whether it be the "slash" from trees that were going to get cut down anyway, or actual trees cut down for the purpose) is hardly green.
How much pollution is spewed from those diesel ships crossing the Atlantic bring ing their cargo from North America to the UK?
It's a scam.
Far better to just burn coal dug up in the UK. |
I didnt watch the program but I did see this from Drax yesterday.
hxxps://www.drax.com/press_release/drax-response-to-bbc-panorama-programme-on-canadian-forestry/ |
csm
You are falling into the trap.
That is not what was said.
There was NO proof that all 100% was taken and used to pellet.
I think the Canadian government would be all over DRAX if they were breaking the framework.
Just like in the EU there will be inspectors all over them.
Yes i saw wood move from a site to a pellet facility but how do we know this wasnt the out grades?
In the UK we all have log fires burning hard wood kiln dried in Europe.
As i say there are many questions to be answered but the program clearly set out with an Agenda and filmed what it wanted to try to prove that agenda.
tiger |
Did you actually watch the programme? The Canadian government grades all wood chopped down and only 11% was graded as unsuitable for use the other 89% was graded suitable for other uses ie furniture and house building but drax is claiming government subsidies on all 100% as unsuitable for other use, the ceo is committing fraud on a huge scale or some of his minions are, I find hard to believe he doesn’t know, I am amazed these didn’t go down even further today, they have escaped because people have bought anything today and probably don’t realise what these are doing…yet |
On the downside, Drax Group tumbled 5.31%m after BBC Panorama claimed in an investigation aired on Monday that the company was "cutting down trees in ancient forests important for fighting climate change". |
Now testing 500 then 400 wot a mess and now very Risky … |
Whist i agree partly with what you say it was far from conclusive.
I never believe anything given as fact without looking into the matter.
there was very little balance given just the anti biomass people.
i prefer a neutral position and balanced reporting.
Why did panorama not take the opportunity to visit the production facilities whilst in Canada.
The BBC were very much unsure on certain facts.
For example how can we be 100% the wood removed from that site was not suitable for wood products etc.
As i said i sold yesterday and i was very unhappy about the content of the program.
I look forward to the companies full report and if its as was said then i agree they should not get the green subsidy.
I am not sure where the 11% came from.
My understanding is it was 80%
tiger |
There was no defence from watching that panorama report, they are culling forests that are thousands of years old on a grand scale, only 11% of what was going into the pellets was legally classed as renewable and they claimed £832m last year off the government in subsidies by saying it was 100%, now besides the disgraceful moral side of things that is destroying ancient rainforests that also would mean they are not entitled to 89% of that money every year. Last I checked 89% of £832m is an awful lot and it they go down the pay it back route and for the last few years they have had it |
I went today and sold everything.
In their defense there was lots of maybes in the report.
However, for now I am no longer a holder.
tiger |
These have had it tomorrow and it won’t be long till they lose those subsidies that they are claiming illegally, ceo needs to go imho dyor |
It's the EU short of electric, UK has become net exporter now during spring summer autumn due to French nuclear power stations being off line. |
One of my concerns when buying this share was that it would be "found out" to be not very green.
The question is what the government will do - the UK is short of electricity production right now and Drax provides reliable baseload. It seems unlikely that there would be drastic change (although the current government is sufficiently incompetent to make big mistakes).
Regulatory changes in the medium term are more likely. |
I think biomass has a role to play in energy production but only when it's done sensibly. This "news" has made me sell. |
Rim
Indeed.
Still cant get my head around why biomass is deemed green renewable energy. It's just burning wood after all, wood that has been shipped from USA to UK. A great distance. |
Panaroma documentary will expose the subsidies Drax receives |
Surprised there is no mention of the Panorama documentary here. Drax caught logging primary ancient forest in BC. Initially they deny it and then shown the evidence they u-turn arguing that its forest areas close to roads so doesn’t count and helps with wildfire management. Doh. Talk about shooting yourself in the foot, the environmental credentials of biomass are at best questionable transporting pellets transatlantic even when you argue you burn wood waste bi-product but when you are actually logging and making pellets from ancient forest the optics are dreadful. |
DRX……..
Now its How Low How Soon still too Risky at this level… |
DRAX testing 650 then 600 Luke a predictable yo-yo! Testing lows so too risky unless you short in this climate!! |
DRAX has broken through 650 so now 700 is the next level then its how high how soon. They must be making a fortune on current prices and demand will start increasing rapidly as winter arrives. DRAX future is now Glowing with opportunities. |
And then buy or avoid?
I added 5000 yesterday. |
DRAX changes as predicted. You must move to market change and be ready for falls orr Rises… |
halfpenny24 May '22 - 13:14 - 3553 of 3654
0 1 1
If it breaks 500 the next level of support is 400. Hmmm may even test that levels as Windfall kicks everyone in the nuts!!
...Sage of North Yorkshire or complete muppet..... I'll leave it to posters to form their own opinions... ;-#))) |
What has happened today? |
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