Tag Archives: Earth Wind & Fire Fund
In a note released on Friday, analysts at the German bank warn that dry and warm weather in Europe hits hydropower production – Norwegian hydro generation in January was almost a third lower year on year.
But it also hampers the transport of fuels, with low water-levels on the Rhine – where barges are operating at as little as 30% of normal capacity – making it difficult to supply power plants with fuel oil and coal. Meanwhile, barge rates have nearly trebled since December, Deutsche Bank says.
Of particular concern are wheat prices – Europe is the second largest exporter of wheat, after the US, accounting for 18% of global wheat exports. France, Germany and the UK represent 55% of EU wheat production.
More good news on the renewable energy front: The cost of onshore wind power has dropped to record lows, and in some regions is competitive with electricity generated by coal-fired plants, according to a survey by Bloomberg New Energy Finance, a market research firm.
“The latest edition of our Wind Turbine Price Index shows wind continuing to become a competitive source of large-scale power,” Michael Liebreich, Bloomberg New Energy Finance’s chief executive, said in a statement.
President Obama’s State of the Union Address challenged Americans to “win the future” by stepping up in a world of increasing global competition. “We need to out-innovate, outeducate and outbuild the rest of the world,” to create new jobs and “make America the best place in the world to do business.”
The President reaffirmed his dedication to clean energy, calling for massive scale federal investments for research and development. He also set a new clean energy target for 2035:
So tonight, I challenge you to join me in setting a new goal: by 2035, 80% of America’s electricity will come from clean energy sources. Some folks want wind and solar. Others want nuclear, clean coal, and natural gas. To meet this goal, we will need them all – and I urge Democrats and Republicans to work together to make it happen.
Last year, the President tried to end the nearly $40 billion in federal subsidies for oil, gas and coal companies, but his proposal was defeated by lawmakers. In his address Tuesday night, he revisited the fossil fuel subsidy issue once more, saying “let’s stop subsidizing oil technology and subsidize new clean technologies instead.”
The President challenged the United States to compete with nations like China and India, which are investing heavily in clean energy technologies. The United States can increase its energy independence, revitalize and “reinvent” its manufacturing industries and create thousands of jobs by diving into this expanding global industry.
“With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have 1 million electric vehicles on the road by 2015,” the President said.
More than 20 percent of the nation’s water treatment systems have violated key provisions of the Safe Drinking Water Act over the last five years, according to a New York Times analysis of federal data.
“This administration has made it clear that clean water is a top priority,” said an E.P.A. spokeswoman, Adora Andy, in response to questions regarding the agency’s drinking water enforcement. The E.P.A. administrator, Lisa P. Jackson, this year announced a wide-ranging overhaul of enforcement of the Clean Water Act, which regulates pollution into waterways.
“The previous eight years provide a perfect example of what happens when political leadership fails to act to protect our health and the environment,” Ms. Andy added.
Water pollution has become a growing concern for some lawmakers as government oversight of polluters has waned. Senator Barbara Boxer, Democrat of California, in 2007 asked the E.P.A. for data on Americans’ exposure to some contaminants in drinking water.
The New York Times has compiled and analyzed millions of records from water systems and regulators around the nation, as part of a series of articles about worsening pollution in American waters, and regulators’ response.
We are pleased to announce that the latest estimated performance for Dec 2009 of The Earth Wind & Fire Fund – Class A is 1.0% bringing the 2009 performance to over 13%.
Annual compound return remains at over 14% p.a. at a volatility of less than 4% p.a. with 89% profitable months.
Below – please find the attribution of December’s performance
For further information on the fund, please contact us by clicking here. Please note that our funds are available to accredited investors or qualified purchasers only.