US subsidies – Grantstation Trendtrack Sun, 10 Oct 2021 01:52:30 +0000 en-US hourly 1 US subsidies – Grantstation Trendtrack 32 32 Rock-a-bye Baby: Why America’s Child Care Crisis Is Bad For The Economy Sun, 10 Oct 2021 01:52:30 +0000

By LaKeshia N. Myers

Representative LaKeshia Myers

In 1984, my mother was among the 52% of American women who worked outside the home. Both of my parents being educators in public schools, they knew they would need quality child care when I was born and when my mother returned to work. Enter Mrs. Virginia Dotson; “Mama Dotson,” as she was called, was the mother of a former student of my mother and had made a name for herself as a babysitter for the neighborhood children of the Rufus King community. She was equally a surrogate grandmother and a southern nanny, all brought together into one beautiful personality. At Mama Dotson, children were always cared for, well nourished and safe. My time with Mama Dotson has been wonderful and provided me with many memories that I treasure. Mrs Dotson, a mother of four, never needed a permit to prove that she knew how to care for children, it was something that was intrinsically part of her being. She simply acted like a grandmother to all of her young children, providing love, occasional discipline, and Bible reading and “healthy living” lessons.

Unfortunately, we are living in a very different time. Gone are the days when working parents voluntarily choose to rely on neighborhood women who provide child care. This can be attributed to changes in societal norms and an increased awareness of child abuse and neglect.

Today, most working parents want child care focused on education and skills training from licensed early childhood educators. With this shift to academic and skill-based care, the price to pay is high. Daycare centers in America have gotten ridiculously expensive, according to Derek Thompson of The Atlantic. The average cost of a full-time child care program in the United States is now $ 16,000 per year, and more in some states than tuition at a flagship university (Thompson, 2019).

The 1970s and 1980s, the two decades with the fastest growing female labor force participation rate, also saw the strongest acceleration in child care spending, the researchers say. Raising young children is work – and it always has been work – but the increase in dual income households has forced more families to recognize this work with their wallets. Portfolios often stretched to the limit due to stagnant wages and childcare subsidies that have not kept pace with the needs of the workforce. This phenomenon was exacerbated by the COVID-19 pandemic as schools went virtual and students learned at home. Women, who are largely the entrepreneurs in their households, were largely responsible for helping children with their homework and therefore did not return to the workforce as quickly as men.

In order to evolve in a post-COVID society, America must embrace a more robust child care subsidy program. There are simply too few options for dual income households. We need substantial investments in child care to get parents back to work. After all, we are one of the only industrialized countries that does not offer some kind of government-provided child care allowance. We cannot attempt to solve 21st century problems with 19th century solutions. It is time for us to step into our reality.

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Benefits for everyone or just for the needy? Manchin’s request concentrates the debate Fri, 08 Oct 2021 21:52:17 +0000

In a private meeting with Mr Biden and nearly a dozen House Democrats in transitional districts on Tuesday, the prospect of limiting who could benefit from the promised two years of free community college emerged as part of a broader discussion of the program, according to Rep. Susan Wild, Democrat of Pennsylvania.

But, she added, “the general feeling was that we shouldn’t put means testing in place for universal child care, or let’s call it universal preschool.”

“It’s completely out of the child’s control, obviously, and it’s an unfair obstacle,” she said.

The politics of debate are obscure. Republicans love to attack Democrats for paying benefits to the rich. They caricature the tax credits meant to switch the country to electric vehicles as subsidies for Tesla owners and poke fun at federally paid family and medical leave by targeting executives who are already enjoying the benefits of their company. . The children of millionaires, they warn, will be among those who attend community college for free.

“The Democratic Party has become the party of the rich and the rich,” wrote Rep. Jason Smith of Missouri, the leading Republican on the House Budget Committee, in an essay for The Washington Examiner published Tuesday.

Many accusations are exaggerated. The kids of millionaires may not flock to community college, free or not. Ms. Sherrill’s amendment lifted the income cap on child care tax assistance, but the benefit is still set to limit child care costs to no more than 7 percent of child care expenses. a family. For truly wealthy families, child care is a much lower percentage than that, so the subsidies would still be limited. A wealth cap of $ 1 million still applies to the program as well.

And since Republicans argue that spending helps the rich, they denounce tax increases clearly aimed at the rich.

Still, the charges could sting.

“There are programs where I say, if the government helps someone like me, that money is probably coming from someone who needs it a lot more,” Kaine said.

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Global Virtual Power Plant Market Report 2021-2026 Thu, 07 Oct 2021 10:45:00 +0000

DUBLIN, October 7, 2021 / PRNewswire / – “Virtual Power Plants – Global Market Trajectory & Analytics” report has been added to offer.

Research and Markets logo

Global Virtual Power Plant Market To Reach $ 1.5 billion by 2026

With traditional utilities stretched to breaking point due to rapid population growth, urbanization and the demands of the digital age, the energy transformation is gaining momentum with next-generation concepts like power plants. virtual electrics. Virtual power plants are gaining more and more attention in the energy sector because of their clear advantages over conventional options.

These plants are cloud-based distributed power systems capable of integrating different power sources to improve power generation while ensuring reliable power supply. Virtual power plants facilitate the sale and trading of energy in the electricity market.

Virtual power plants are expected to take a leap forward and become an integral part of the power sector in the coming years, as they allow aggregators and utility companies to interconnect power generation from different sources and distributed power plants. The relevance of these plants is expected to increase considerably due to the changing energy landscape and the importance of the decentralized grid.

In the midst of the COVID-19 crisis, the global virtual power plant market is estimated at US $ 413.5 million in 2020, is expected to reach a revised size of US $ 1.5 billion by 2026, with a CAGR of 24% during the analysis period. Demand response, one of the segments analyzed in the report, is expected to grow at a CAGR of 23.8% to reach US $ 1.5 billion at the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the distributed generation segment is readjusted to a revised CAGR of 22.3% for the next 7-year period. This segment currently accounts for a 14.9% share of the global virtual power plant market.

Demand response (DR), also known as demand response or load response, encompasses a wide range of manual and automated actions taken on the consumer side of the meter to change electricity consumption in response to demand imbalances. supply of electricity or at an exceptionally high power. prices.

Future market growth will be driven by the increasing demand for Automated Demand Response (Auto-DR) technologies. Distributed generation systems are capable of producing electricity or combined heat and power and are suitable for versatile applications such as continuous, peak, intermittent or standby power supply. Favorable government policy changes, incentives and subsidies catalyze the growth of decentralized production systems.

The US market is estimated at $ 269.7 million in 2021, when China is expected to reach $ 78.9 million by 2026

The virtual power plant market in the United States is estimated at US $ 269.7 million in 2021. The country currently represents a 58.22% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 78.9 million during the year 2026, with a CAGR of 30.6% throughout the analysis period.

Other notable geographic markets include Japan and Canada, each projects growth of 19.1% and 23.4% respectively during the analysis period. In Europe, Germany is expected to grow by around 23.9% CAGR while the rest of the European market (as defined in the study) will reach US $ 101.3 million at the end of the analysis period.

Asia Pacific continues to experience strong growth as several areas, especially in rural and remote areas of developing economies, still do not have access to the power grid or have limited or unreliable power supplies. The growing momentum for rural electrification, rapid industrialization and increasing demand for quality and reliable electricity from energy-intensive industries are driving growth in the region.

The huge vacuum created by the decommissioning of power plants in developed economies in North America and Western Europe, and the ever-increasing demand for electric power from populated emerging economies, opens up new opportunities for distributed power generation.

Main topics covered:




  • Growing investments in energy infrastructure: the cornerstone of market growth

  • The race between the virus and vaccines is intensifying. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • These are times when questions abound and answers are scarce

  • So how fast or slowly are we moving?

  • india Wave 2 makes it clear that fairness is not part of global COVID policy

  • Progress on vaccinations, why should companies care?

  • With IMF’s Upward Revision of Global GDP Forecast for 2021, Most Companies Are Optimistic on Global Economic Return

  • A look back at 2020 as the worst year in human history that left the world in shambles and industries and markets in turmoil

  • How is the energy industry affected by the pandemic and what is the new normal?

  • Beyond the current challenges, the pandemic will fuel our energy transition

  • Virtual power plants (VPP): meaning, importance, operation and benefits

  • Recent market activity

  • New arrivals

2. FOCUS ON CERTAIN PLAYERS (Total 40 featured)

  • ABB

  • Siemens

  • Schneider Electric

  • Automatic grid

  • Next Kraftwerke

  • AGL Energy

  • Enel X

  • General Electric

  • Blue Pillar, Inc.

  • Cisco Systems, Inc.

  • Enbala Power Networks, Inc.

  • Hitachi, Ltd.

  • Robert Bosch GmbH

  • International Business Machines Corporation


  • Distributed energy production: a key objective of energy transformation and the basis for the rise of the concept of virtual power plants (VPP)

  • Role of Virtual Power Plants (VPPs) in a Decentralized Power Grid

  • Growing Value of Demand Response (DR) emphasizes VPPs as an effective tool to achieve DR goals

  • The rise of smart cities and smart grids bodes well for increased investment in VPPs

  • Smart cities get a COVID-19 boost

  • Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities and a Strong Business Case for VPPs

  • Growing Digitization of Energy to Further Boost VPP Rise

  • COVID-19 accelerates the digital revolution in all sectors

  • Special focus on the digitization of energy

  • Optimal management of renewable energy sources highlights VPPs

  • The concept of decentralized blockchain-based virtual power plants is gaining momentum and prominence

  • Increase in energy trade to benefit market growth




For more information on this report, visit

Media contact:

Research and markets
Laura Wood, senior

For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900

US Fax: 646-607-1904
Fax (outside the United States): + 353-1-481-1716



View original content:—rise-of-smart-cities–smart-grids- bodes-well-to-increase-investments-in-vpps-301395023.html

SOURCE Research and Markets

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Unemployed Parents, Service Industry Works Among Families Eligible for Child Care Subsidies – NBC 5 Dallas-Fort Worth Wed, 06 Oct 2021 21:54:23 +0000

The Texas Workforce Commission offers a special child care grant to parents in the service industry. TWC has an existing child care subsidy for low-wage workers, but the new program for parents who work in retail, accommodation, food, arts, entertainment and recreation did currently no waiting list – according to a TWC spokesperson.

Responding to a labor shortage with child care help

It is an effort to help fill the labor shortage in the service industries.

“A lot of times it’s the choice between working or not working,” TWC’s James Bernsen said. “A lot of people do the math, and they would lose so much paying for child care.”

TWC plans to spend up to $ 500 million in federal COVID-19 relief money to cover child care costs for up to a year if parents follow guidelines.

To qualify, TWC said families cannot earn more than 75e percentile of median government income. For a family of four, that works out to $ 64,043 per year.

Where to apply

To read an overview of child care programs, click here.

Parents of children with disabilities can find more information here.

Individual Workforce Solutions offices across Texas manage requests. To find your office, click here.

Up to three months of help for unemployed parents

In June, the commission also extended child care subsidies to unemployed parents, offering up to three months of help paying for child care while parents search for a job.

“We know that parents struggle to find jobs and re-enter the workforce,” said Tori Mannes, president and CEO of the nonprofit ChildCareGroup. “We are grateful to the Texas Workforce Commission for allowing parents to receive free child care for their children so that they can go out and look for work and re-enter the workforce.”

ChildCareGroup said it manages the Texas Workforce Commission child care services contract in three regions, including Workforce Solutions for Greater Dallas, and serves approximately 18,000 Texas children per day.

Previously, parents who were already employed or in education or training could be enrolled in the child care subsidy program. TWC said the lack of childcare services is frequently cited as a barrier for parents looking for work.

The child care program grant will be open to unemployed parents looking for work until September 30, 2022.

Individual Workforce Development Boards deal with these demands locally. TWC says most have set the income limit at 85% of the state’s median income level. For a family of four, this represents a maximum income of $ 72,582 per year.

For more information, contact your local Workforce Solutions office. Find yours here.

NBC 5 Responds is committed to investigating your concerns and getting your money back. Our goal is to provide you with answers and, if possible, solutions and resolution. Call us at 844-5RESPND (844-573-7763) or complete our Customer Complaint Form.

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Amazon secures record U.S. tax breaks to expand delivery network Wed, 06 Oct 2021 09:00:43 +0000

Amazon has won a record number of tax breaks this year as local authorities try to lure the online shopping giant to expand its overnight or same-day delivery networks in their regions.

According to data from Good Jobs First, a Washington DC-based economic development watchdog, Amazon has so far secured around $ 650 million in sweeteners from local and state governments in 2021, a mix of grants, d tax exemptions and other incentives. This was likely a conservative estimate, the group said, due to the secrecy surrounding some of the transactions.

With three months still to go, 2021 already has the largest annual tally since Good Jobs First began collecting data in 2000, excluding incentives for non-logistics projects, such as filmmaking and development. of office space, and the over $ 750 million package that Amazon received. in 2019 to build its “second” head office in Arlington, Virginia.

The one-off deals for Amazon’s delivery network come as local authorities grapple with rebuilding their economies and labor markets in the wake of the coronavirus pandemic, a crisis that has seen the benefits of Amazon is skyrocketing due to its pivotal role in distributing merchandise during the lockdown and beyond.

“I was hoping the officials would take a step back and say, ‘We are in such a difficult situation, we need to stop subsidizing very wealthy companies,'” said Kasia Tarczynska, research analyst at Good Jobs First. “Unfortunately, it is the opposite.”

“Amazon should stop asking for any kind of incentives,” she added.

Amazon defended the practice, highlighting its track record in creating jobs and saying that in many cases it accepted offers that were on the table for any business, not just Amazon.

“These incentives are generally available to any business that meets the criteria, and businesses don’t get a dime until they’ve created jobs and made capital investments,” Amazon said. “In 2020 alone, Amazon invested $ 150 billion in the United States, opened more than 100 sites and created more than 400,000 jobs in more than 40 states. “

The company also referred to statements from the Progressive Policy Institute (PPI) describing Amazon as its main “investment hero.” Like several other large companies, Amazon is a donor of PPI. The think tank did not disclose how much it received from the company, but said its research was based on “published financial data and [used] a clearly documented methodology ”.

Amazon won a package of more than $ 750 million in 2019 to build its “second” headquarters in Arlington, Virginia © Olivier Douliery / AFP / Getty

Including breaks related to company offices, Whole Foods grocery stores, Zappos warehouses, company film and television productions, and even a fashion studio in New York City, Amazon received “at least” 4. $ 1 billion in incentives since 2000, Good Jobs First calculated. . Secrecy makes it difficult to count accurately. In some cases, tax breaks are voted on before it is confirmed that the beneficiary will be Amazon and in other cases, dollar amounts are never disclosed.

The e-commerce giant is aggressively adding warehouses as it seeks to reduce delivery times to more markets in the United States. The company’s capital spending rose from $ 16.8 billion in 2019 to $ 40.1 billion in 2020. At the end of the second quarter of this year, Amazon said investments had reached $ 26.4 billion. of dollars.

Meanwhile, the company has sought incentives from local authorities, often through third-party development companies.

In a recent filing in Monroe County, New York, Amazon and its partner threatened to back down if demands were not met, saying “the economic uncertainty caused by the current pandemic” meant no incentives , the “cost of developing and operating at this site would likely outweigh the benefits.”

The county’s economic development agency was divided over the credibility of the Amazon threat. “We have a population of one million in the metropolitan area,” said Jay Popli, board member. “It’s not New York, but it’s pretty important. I didn’t think they were going to ignore this market.

In a recent deal, Amazon admitted to the Financial Times that it would continue with plans for Fort Wayne, Indiana, even after local authorities denied it an additional tax incentive of $ 7.3 million on top of that. an agreement already approved.

In Monroe County, it was ultimately agreed that Amazon would receive $ 150 million in tax subsidies over 15 years. Part of the rationale for the deal was a clause that required only local workers from nine neighboring counties to be hired for the construction project. Amazon agreed to this provision, only to then seek a waiver, saying it was not possible to meet its schedule for opening the facility – a schedule it refused to share before the incentive was granted. Popli said.

“It just wasn’t a good faith effort,” Popli said, adding that local contractors had complained about being given unfeasible deadlines to submit bids to do the work. “Granting a waiver when a company hasn’t given our local community a fair boost just wasn’t right for me. “

Amazon declined to comment on the Monroe County deal.

An Amazon delivery driver pushes a grocery cart through a distribution center in Redondo Beach, California

An Amazon delivery driver pushes a shopping cart through a distribution center in Redondo Beach, Calif. © Patrick T Fallon / AFP / Getty

The evidence is mixed as to whether or not the incentive offers are good value for money for the counties that offer them. A 2018 Economic Policy Institute study found that a new Amazon Fulfillment Center typically increased warehouse jobs by around 30%, but tended to attract staff from other employers. which resulted in no net new employment overall.

For local politicians, there was a huge personal incentive, said Nathan Jensen, a professor in the government department at the University of Texas-Austin. “You can go to an opening ceremony and say, ‘I brought Amazon here,’” he said.

Jensen’s research found that voters give politicians more credit for jobs that come to a city when an incentive deal has been struck than when a company has come in without any visible cajoling.

But that perception may change as more local opposition – often focused on Amazon’s record on workplace safety – begins to emerge. In particular, the locals of the Teamsters union are mobilizing to challenge the incentive agreements which, according to them, displace other more paying logistics jobs.

“There is a higher risk of having these jobs,” said Randy Korgan, who leads the Teamsters’ organizing efforts against Amazon, noting the company’s high injury rates. The new jobs should not be seen as de facto good, Korgan added.

“There must be criteria that absolutely establish what a good job is. Are these long-term jobs where people are going to be able to buy houses, or are people going to be able to contribute to the local economy? “

At a recent congressional hearing, committee members learned that the average wage for a union-backed delivery driver in New Jersey working for UPS was $ 38.35 an hour. The current starting hourly wage for Amazon drivers in the region is $ 19.25, according to job postings, although a $ 3,000 signing bonus is on the table due to shortages. workers nationwide.

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Gas crisis hits government bond markets as energy prices soar Tue, 05 Oct 2021 17:17:38 +0000

European natural gas prices hit all-time highs on Tuesday, dragging bond markets down, particularly in the UK, a sign that investors expect more economic damage.

European gas contracts for November delivery jumped 23% to € 117.50 per megawatt hour, down from just € 18 six months ago due to the prospect of supply shortages in the winter months. Prices in the UK have also skyrocketed, topping £ 3 per therm for the first time as prices have tripled in the past two months alone.

The latest price gains mean gas in the UK and Europe is now trading at over $ 200 per barrel of oil equivalent, nearly three times the price of crude, with inflationary effects threatening to spill over into the economy. gas-dependent economies for heating and power generation. Traders are now anticipating the UK consumer price inflation rate to spike to nearly 6% in April next year.

Tuesday’s surge in gas prices fueled a recent drop in bond prices, particularly in the UK where concerns about rising prices were most acute. UK 10-year government bond yields jumped to 1.09%, the highest since May 2019.

Eurozone and US government debt also weakened, with 10-year US Treasury yields hitting near last week’s three-month high as investors grew concerned about the inflation.

“Bond markets trade gas prices,” said Mike Riddell, portfolio manager at Allianz Global Investors. “The rise is so dramatic that it fuels these concerns about stagflation.”

Longer-term inflation expectations have also risen, extending a sell-off in gilts that started last month when the Bank of England said it could raise interest rates as early as this year.

But investors wondered if central banks could curb inflation driven by strained supplies in energy markets, which have spread from Europe to the rest of the world. Asia’s largest economies are also increasingly suffering the blow from record prices, including in coal markets, with China and India experiencing supply shortages.

The tightening in energy markets is, in part, the result of the rapid rebound in economic activity and demand for energy from the depths of the pandemic. But demand for gas has also increased in Asia, where governments are trying to reduce their reliance on heavily polluting coal. European domestic production has also fallen.

Russia, the largest supplier of natural gas to Europe, has also limited pipeline exports to long-term contracts only, despite clear signs that traders want more sales in the spot market to help fill the gaps. storage facilities.

Russian President Vladimir Putin on Tuesday called the situation in Europe “hysteria and confusion”, accusing the lack of supply of underinvestment in fossil fuels as economies try to shift to renewables .

Ukraine and other Eastern European countries have accused the Kremlin of attempting to “arm” natural gas supplies in an attempt to gain swift approval to start the Nord Stream 2 pipeline and as part of it. of a reaction against the push towards renewable energies.

Nord Stream 2 will transport Russian natural gas to Germany via the Baltic Sea, bypassing Ukraine, and has been the target of US sanctions until a deal between Angela Merkel and President Joe Biden earlier this year.

Soaring energy prices are also putting pressure on governments and policy makers in Europe. European Commission chief Ursula von der Leyen said on Tuesday that Brussels would consider setting up joint strategic gas storage facilities, warning against Europe’s heavy dependence on Russia for imports, while commending Norway for taking steps to increase gas production.

“We are very grateful to Norway for stepping up its efforts, but this does not appear to be the case with Russia,” said von der Leyen.

Brussels is under pressure to act in the face of record natural gas prices that have forced the governments of Spain, Italy, France and Greece to accept subsidies to protect households against higher costs.

Record wholesale prices have also led to the collapse of 10 UK retail energy providers since early August, requiring millions of customers to shift to other companies.

The cost of supplying gas and electricity to the average UK household for a year has climbed to over £ 1,800, well above the price cap of £ 1,277.

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Low-income Missouri residents finally get Medicaid coverage Tue, 05 Oct 2021 03:11:22 +0000

By Tami Luhby, CNN

Medicaid’s expansion finally began in Missouri, nearly five months after Republican Gov. Mike Parson unsuccessfully tried to block it.

About 275,000 low-income adults in the state are now eligible for coverage. MO HealthNet, the state’s Medicaid program, has already received more than 17,000 applications since the registration process began in August.

Missouri had to expand Medicaid after voters approved it in August 2020 by a vote of 53% to 47% – becoming the sixth state to accept the Affordable Care Act provision at the polls.

It was due to go into effect on July 1, but was cut short by Parson, who said in May that the state could not proceed because lawmakers had not allocated funding.

A legal battle ensued, with plaintiffs arguing that the state’s Medicaid program was funded by the General Assembly and that lawmakers do not need to set aside specific funds for those enrolled in it. expansion.

A lower court ruled that the 2020 ballot measure approving the expansion violated state law, but that ruling was overturned in July by the state’s Supreme Court, which said in a unanimous decision that the initiative for the ballot was constitutional.

Additional federal funding

Missouri is also eligible to receive about $ 968 million in additional federal Medicaid funding over the next two years, as part of a US bailout measure to encourage reluctant states to expand their programs.

Oklahoma is also eligible for a federal infusion after Medicaid extension coverage begins on July 1. Voters narrowly approved the 2020 voting initiative.

However, the remaining 12 states that have yet to expand Medicaid have not announced any plans to accept its offer by Congress. All have Republican governors or GOP-controlled legislatures.

More than 2 million uninsured adults fall into the “coverage gap,” which means their incomes are too high for them to qualify for Medicaid in their states, but too low for them to be eligible for benefits. grants to help with the Affordable Care Act premiums. Grants are only open to those earning more than 100% of the poverty level in non-expanding states.

Democrats in Congress are seeking to enact a federal Medicaid expansion program to cover low-income residents in recalcitrant states as part of their $ 3.5 trillion budget reconciliation program. However, the provision may not survive the cuts lawmakers would have to make to garner enough votes for its passage.

™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

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Seafood will become more expensive | Goa News Mon, 04 Oct 2021 00:14:00 +0000 Panaji: At the start of the previous fishing season, diesel stood at Rs.54 per liter – a price that trawler owners in Goa considered high in the face of the pandemic. They weren’t expecting it to drop to Rs 94 per liter at the end of the season in May.
As fishing operations resume and fuel prices hit Rs 100 per liter, boat operators, worried about their margins and the resulting impact on fish prices, demand timely reimbursement of the VAT subsidy.
“It’s going to be very difficult for us,” said Cruz Cardozo, owner of a trawler at the Vasco fishing pier.
“We need over 100 liters of fuel a day to run, but it’s not every day that we can get good catches. The days when we go back to the pier without any plugs are tough, but with the rising fuel prices those days will only get more difficult, ”he said.
There are a few states like Tamil Nadu where the state government grants boat operators a subsidy on the VAT charged for diesel. The VAT is around Rs 20 against Rs 94 of the price of diesel in Goa. Although Goan fishermen are also eligible for a VAT subsidy, many boat owners say they have yet to get their refund.
“The state government has reduced the fuel subsidy for fishermen from Rs 50,000 to Rs 30,000 since last year. It has been over a year since the pending grants were released. How can we survive these difficult times? Nerul-based fisherman, said Ozer Mendes.
Reiterating that it was not possible to run their boats at such diesel rates, Harshad Dhond, president of the Goa Purse Seine boat owners association, said: “So we want the government to grant us reimbursement of VAT per trip. It is the least he can do to help the fishing industry in Goa.
While trawler owners depend on diesel, traditional or ramponkar fishermen need gasoline to run the engines of their canoes.
However, the need to mix oil with gasoline for the proper functioning of the engine leads fishermen to shell out more money to refuel. Additionally, due to the lack of availability of fish these days due to rough sea conditions, ramponkars end up spending more time at sea, increasing their fuel requirements to two tanks instead of the usual.
“Previously we needed 25 liters, but now we need 50 liters which cost around 5,000 rupees for a single day of travel. It is not only unaffordable for us, but it is unprofitable when enough fish are not caught, ”said the secretary general of the National Fishermen’s Forum, Olencio Simoes.
He added that there will be a direct impact on fish prices if oil prices are not regulated. “The fisheries department must ensure that the government understands that the subsidy acts as a relief for fishermen and ultimately also has an impact on the price of fish,” said Simoes. Source link

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Meng Wanzhou’s freedom inspires overhaul of US state capitalism Sun, 03 Oct 2021 07:12:58 +0000

Meng Wanzhou, Chief Financial Officer of Huawei, reads a statement before the Supreme Court of British Columbia in Vancouver, Canada, September 24, 2021. / VCG

Meng Wanzhou, Chief Financial Officer of Huawei, reads a statement before the Supreme Court of British Columbia in Vancouver, Canada, September 24, 2021. / VCG

Editor’s Note: Huang Yongfu is an economic affairs commentator. After obtaining a doctorate, he began his career at the University of Cambridge, then moved to the United Nations system. He is the author of numerous articles and books related to economics. His current interests are in global development and Sino-US ties, especially trade, finance and technology issues. He can be contacted via The article reflects the views of the author and not necessarily those of CGTN.

The release of Huawei’s chief financial officer, Meng Wanzhou, came as a surprise, which removed a source of tension between Beijing and the West. However, the company could continue to face charges, as US Secretary of Commerce Gina Raimondo said on September 24 that the Joe Biden administration would continue its efforts to prevent Huawei from obtaining much needed advanced chips.

Global opinions should be shaped in such a way as to thwart the wayward, assertive and extremely destructive behaviors of America as a unique superpower without rules.

Meng’s hostage incident was part of US sanctions against Huawei, poking fun at Western liberalism and free market competition. As part of an “industrial policy” for designated industries deemed strategically important, US state capitalism embraces state surveillance and intervention to attack “foreign adversaries” through sanctions or to stimulate industries through sanctions. through grants or increased funding.

By declaring a “national security risk” or “human rights violations,” America has aggressively deployed a massive militarization of economic tools aimed at slowing China’s technological advance to a level systemic. Steps have been taken to block sensitive technologies against China behind tariff barriers, import and export controls, subsidies and stricter investment screening rules, which the US-China trade war had brought about. already driven.

As China’s largest high-tech company and one of the world’s largest telecom equipment manufacturers, producing premium and cost-effective products, Huawei holds a dominant role in 5G technologies with many crucial patents on lightning-fast 5G mobile networks. Huawei represents a technological challenge for the American hard power essential to achieve superiority in the military field. America has launched a barrage of actions to cripple Huawei, on the grounds that its smartphones and network equipment could be Trojans for Chinese spies that threaten Western interests.

Regarding import controls, the US Department of Commerce has proposed policies to prevent imports of any new technology deemed to be related to a “foreign adversary”, covering chips and data services. The United States has also urged its allies to stop using equipment in their 5G networks based on Huawei 5G standards and technologies that are part of China’s Belt and Road Initiative. The most recent case is that of the United States on July 9, 2021, blacklisting a series of Chinese tech companies with limited imports due to human rights violations in the Xinjiang Uyghur Autonomous Region.

A Huawei 5G mobile phone tests its speed at the Huawei 5G Innovation and Experience Center in London, Jan. 28, 2020. / Xinhua

A Huawei 5G mobile phone tests its speed at the Huawei 5G Innovation and Experience Center in London, Jan. 28, 2020. / Xinhua

Regarding export controls, the US Department of Commerce in February 2020 amended the so-called foreign direct products rule, which restricts a list of emerging technologies sold to China and other countries for military products. or national security. By the end of last year, America had added more than 300 Chinese companies to an “entity blacklist,” which prevents American companies from exporting critical or sensitive technologies to them because of a “threat to national security “. The most famous is that Huawei was subjected to it in 2019. Almost all component and software exports to Huawei in particular, and China in general, would require export licenses.

Growing sharply in the United States and Europe, state grants have been the largest in a range of government interventions to direct resources to industries critical to their national interests, from 5G wireless technology to new generation in the manufacture of chips and batteries for electric cars. pharmaceuticals.

Investing in innovation and manufacturing is another area the U.S. government is actively working on, as evidenced by the U.S. Innovation and Competition Act 2021 passed by the Senate in June, with several specific provisions intended to counter “Chinese influence at national and international level”. It includes increased funding for the National Science Foundation and stricter measures to increase the diversity of STEM (science, technology, engineering and mathematics) education and research activities.

No longer satisfied with the financial support for research, the White House in May 2021 even proposed a toolkit to move production from four sectors deemed vital for the supply chain from China to the United States, in using populist rhetoric to bring back millions of manufacturing jobs. It is perfectly possible for America to do more manufacturing itself, but that is not advisable with higher prices and reduced demand. According to the theory of comparative advantage advanced by David Ricardo, nations prosper when they specialize in the things they do best and engage in trade. The United States would improve if it focused on its own strengths as a nation and allowed the two nations to trade freely.

The essence of capitalism is the property of private property. Free market capitalism is the very foundation of the civilized order where people can produce goods and services and sell them to those in need on the basis of the principle of comparative advantage. A wave of profit maximization and unhindered entrepreneurship is pursued as long as personal and property rights are respected, according to Adam Smith’s 1759 book “The Theory of Moral Sentiments”.

US state capitalism could help companies maintain market share, but it blocks the free flow of goods and ideas across borders. The world is already deeply interconnected and integrated. Job creation and prosperity can be achieved through technological cooperation and increasing the capacity of a market economy based on the principle of comparative advantage, and not through protectionist policies. What we need are laws that encourage competition by leveling the playing field rather than hindering it, and a society that understands that capitalism and freedom go hand in hand.

With Meng’s release, it makes sense for the Biden administration to reverse the continuing battle over technology, avoid antagonism against China, and focus on meaningful interactions and cooperation in areas such as climate change and trade. .

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How China’s push to consolidate electric vehicles could hurt (and help) Nio Sat, 02 Oct 2021 14:52:00 +0000

Last month, a senior Chinese official said the country’s government wanted to encourage consolidation of its sprawling electric vehicle industry. It’s no surprise that China has more than 300 electric vehicle start-ups, many of which have no hope of ever becoming profitable.

But what does this mean for companies like Nio (NYSE: NIO), Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) which have become popular with American electric vehicle investors?

In this Motley Fool Live broadcast, recorded September 23, Focus on industry host Nick Sciple and Motley Fool senior automotive specialist John Rosevear take a closer look at the government‘s likely intentions, how they could be both good and bad for Nio and his rivals – and why a similar wave of consolidation of electric vehicles is likely to play elsewhere as well.

A transcript is below the video.

Nick Sciple: You mentioned China earlier in supply chains, I wanted to talk a bit about China here. Earlier this month, Chinese Minister of Industry and Information Technology Xiao Yaqing. Hopefully I said this right, I made the headlines saying that China has “Too many electric vehicle manufacturers and the government would encourage consolidation.” It comes in the midst of this great disruption that we have seen in the tech sector in China following sudden government intervention. Should investors in Chinese electric vehicle companies have any concerns about these government comments?

John Rosevear: Well, the companies that we are looking at, companies like NIO, Xpeng, Li Auto, BYD. These are the companies that stand out because they have had some success. They ship vehicles, they have satisfied customers, their sales are increasing. It’s harder to see from the United States, as there are around 300 electric vehicle start-ups in China, many of which are nothing more than a shingle on a warehouse. At this point, they’ve never been anywhere. There was a time when grants from national and local authorities were quite generous. A lot of people have said, “We’re going to try to give ourselves grants. There was probably some level of scamming, but there’s a lot of genuine effort that just never took off, including some pretty big ones. To the extent that they encourage consolidation. If I were an investor, say, NIO, what I would worry about is the government is going to put pressure on me to buy competitors that I maybe don’t need what they have. Some, it’s just traction. It might not be the best use of capital or so on. I think for companies, again, the ones we talked about, this is going to be more difficult down the road at most things. It may even help them to some extent from the perspective of Chinese consumers. The thing to understand about the Chinese auto market is that all the auto brands that you have heard of as a westerner are for sale in China, as well as a whole bunch of Chinese brands that you don’t know. you may have never heard of it. By clearing the ground a little, they can stand out more. If we go from 300 electric vehicles in China, electric vehicle enterprises in China. To have eight, consumers know what they are buying and who has what and they can see more clearly rather than being overwhelming. It could be good for NIO or Xpeng.

Nick Sciple: We’ll see what happens. I think every time the government gets involved in business operations it adds a level of unpredictability to a company that is already on the cutting edge of technology. We will see what happens and we will pay attention to it. Apart from these involved macro-government events, what are you paying attention in China when it comes to electric vehicles these days?

John Rosevear: Well, what I’m looking at right now is that Xpeng has just started production of a new model. It’s called the P5. It’s a smaller sedan than their P7. Everyone is probably, if you’ve been paying attention to Chinese EVs, you’ve seen photos of the P7. It’s a really very elegant sedan. The P5 is more stable, straighter. Not so pretty, but it starts after grants of around $ 25,000, which will be very attractive in China. They started production. They say deliveries start next month. What I’ll be interested in seeing is how it plays out in the short term with that rival Neo in mind, which is a company that many of us have been watching for quite some time. In America, a lot of crazy people took an interest in it. NIO doesn’t have any new models coming until next year. Their growth may stabilize a bit as Xpeng continues to share its shares with its new low cost and presumably higher volume products. I’m going to watch this over the next couple of months and see how it starts to come apart.

Nick Sciple: When we see this growth of these new electric vehicle companies, you mentioned Xpeng, NIO, there are others. As a person living in North America, is there a credible route for these vehicles to be available for sale here or is there still a store only in China?

John Rosevear: They are looking at Europe and to some extent Norway has caught everyone’s attention because it is the only country that has led the world in the adoption of electric vehicles. You’re here there were a lot of sales there, Ford Motor Company sells every Mach-E that they can ship to Norway, et cetera. NIO and Xpeng have targeted this. I think Xpeng has already delivered a few cars to Norway and NIO is in the process of opening their business. They may have already shipped some for delivery there. I think at some point later they might try to come to America if they get a beachhead in Europe and can make it a profitable and stable business. But at the same time, what we’re going to see over the next few years is the avalanche of electric vehicles from established automakers who already have the production capacity. Who already have supplier relationships, who already have customer loyalty and so on. It makes me think that what may not be on the radar just yet is a consolidation both among traditional automakers and among these new entrants. I think we’re headed for a shakeout. Certainly, as we have talked about, there is one coming to China. But elsewhere too. Is there room for Nicolas and Lucid and all these other companies, Workaholic, Lordstown Engines that we’ve been talking about over the past two years? Not all of these companies will do it. It will be interesting to see who are the buyers and who become the assets. I think a shakeout is coming up and it’s going to be interesting to watch. That’s my opinion.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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