USS George H.W. Bush Tests New Software

first_img USS George H.W. Bush Tests New Software View post tag: USS George H. W. Bush View post tag: software April 27, 2015 US Navy’s aircraft carrier USS George H.W. Bush (CVN 77) returned to Norfolk April 26 following the field-testing of the Navy’s new Maritime Augmented Guidance with Integrated Controls for Carrier Approach and Recovery Precision Enabling Technologies (MAGIC CARPET) software.The crew also conducted carrier qualification (CQ) operations and the offload of ordnance to the Military Sealift Command dry cargo and ammunition ship USNS William McLean (T-AKE 12).Lt. Cmdr. Dan Marzluff, assistant air operations officer, said:This underway marked the first use of the MAGIC CARPET technology on an aircraft carrier. This software greatly reduces misses and wave-offs, which translates into more time on-mission and makes us an overall more effective force.MAGIC CARPET software is designed for F/A-18E/F/G aircraft that automatically adjusts the jet’s speed and angle of attack in relation to the intended landing surface. Initial tests of the system took place in early February at Naval Air Systems Command, Patuxent River, Md.George H.W. Bush also conducted CQs with the “Flying Eagles” of Strike Fighter Squadron (VFA) 122, the “Vikings” of Electronic Attack Squadron (VAQ) 129, the “Lancers” of VAQ-131, and the “Sharpshooters” of Marine Fighter Attack Training Squadron (VMFAT) 101. This training prepares pilots in carrier-based launches and recoveries in a safer environment than a combat zone.An ammunition offload took place day and night over a three day period, and despite the heightened sea state, the offload was completed on schedule.[mappress mapid=”15789″]Image: US Navy View post tag: americas Back to overview,Home naval-today USS George H.W. Bush Tests New Software View post tag: MAGIC CARPETcenter_img View post tag: Tests View post tag: Naval View post tag: News by topic Authorities View post tag: Navy Share this articlelast_img read more

Breakfast on-the-go

first_imgMcVitie’s Cake Company has launched a range of mini croissants, featuring a chocolate or strawberry filling.The croissants expand on McVitie’s morning goods range, until now consisting only of waffles. They can be eaten straight from the pack, or warmed in the oven. The mini croissants have been designed to capture spend from consumers who have missed breakfast or who want a snack on-the-go.Mike Benton, marketing controller at The McVitie’s Cake Company, commented: “People are finding that their lifestyles are becoming increasingly busy and it is more difficult to find the time to eat breakfast. The launch of these mini croissants provides consumers with the perfect solution for a quick breakfast or snack on-the-go.”The products will be available from May in packs of seven and the launch will be supported by in-store promotional activity.’’RRP: £1.19 www.unitedbiscuits.co.uk’’last_img read more

U.S. Postal Service announces holiday shipping deadlines

first_img WhatsApp Pinterest IndianaLocalMichiganNationalNews By Darrin Wright – November 18, 2020 0 187 Facebook Google+ Twitter Facebook Previous articleBSU to require students take COVID-19 test, quarantine before returning to campusNext articleGoshen Health staffing numbers “struggling” with COVID spike Darrin Wright Google+ USPS Retail Ground® ServiceDec. 15center_img (Photo supplied/United States Postal Service) Whether it’s cards or gifts for the holidays, you’ll want to get them into the mail a little earlier this year.Due in part to an increase in online shopping, as well as recent cutbacks at the U.S. Postal Service, they’re encouraging everyone to ship those holiday goodies a little earlier this year: WhatsApp Priority Mail Express® Service2Dec. 23 Pinterest Twitter Priority Mail® ServiceDec. 19 U.S. Postal Service announces holiday shipping deadlines Domestic Mail Class/ProductDate (excluding Alaska & Hawaii) First-Class Mail® ServiceDec. 18last_img read more

News story: Universities must do more to tackle ethnic disparity

first_img We are placing greater demands on universities to close the attainment gaps between ethnic minority students and others. We are also providing greater support for all universities to improve their practice in this area by funding collaborative projects and sharing effective practice. Our new approach to access and participation requires universities to improve their use of evidence and evaluation to identify the specific challenges faced by their own students, and to make interventions that work. Where we see lower proportions of ethnic minority students continuing with their studies, achieving the best degree outcomes, or progressing into graduate jobs, we expect universities to have a measurable plan of action to address this. Today, we are publishing new research and guidance to support universities in effectively targeting their work for students from minority ethnic backgrounds, so they can make the changes that are needed if we are to achieve equality for all. Holding universities to account through their Access and Participation plans – scrutinised by the Office for Students who will use their powers to challenge institutions failing to support this. Measures to improve outcomes for ethnic minority students in higher education were announced by the Chancellor of the Duchy of Lancaster David Lidington and the Universities Minister Chris Skidmore today (1 February).The measures are part of a bold cross-government effort to “explain or change” ethnic disparities highlighted by the Prime Minister’s Race Disparity Audit website, so people can achieve their true potential, whatever their background and circumstances.Universities will now be held to account on how they will improve outcomes for underrepresented students, including those from ethnic minority backgrounds, through powers of the Office for Students, who will scrutinise institutions’ Access and Participation plans.All universities will now have to publish data on admissions and attainment, broken down by ethnicity, gender and socio-economic background, to shine a spotlight on those making good progress and those lagging behind.League table providers are being encouraged to present better information on social mobility and underrepresented groups, while the Office for Students is developing a new website to replace Unistats, which will have a greater focus on supporting those who are less likely to enter higher education.Chancellor of the Duchy of Lancaster David Lidington said: Reducing ethnic disparities in research and innovation funding – UK Research and Innovation is commissioning evidence reviews on challenges for equality and diversity and how they can be addressed. Encouraging institutions to address race disparities in their workforce – using tools such as the Race at Work Charter and Race Equality Charter. Putting pressure on university league tables to include progress in tackling access and attainment disparities – working with a wide range of experts, stakeholders and league table compilers. Professor Edward Byrne AC, President and Principal of King’s College London: Tackling race disparity outcomes is important and we welcome the Minister’s visit to King’s today. I am proud of the diverse international community we have here at King’s, in 2017/18 49% of our undergraduates were from Black, Asian and other ethnic minority backgrounds, and we have the fastest growing population of low-income students in the Russell Group. Over the past seven years we have significantly reduced the gap between Black, Asian and Minority Ethnic (BAME) students and non-BAME students achieving a first or 2.1, from 11.1% in 2011/12 to 3.8% in 2017/18.  It is great for our staff and students to have the opportunity to engage with Government at such a high level in a pro-active and meaningful way as at the roundtable this morning. I look forward to working further with Government, partners and communities to build on the work we’re already doing to improve student attainment and staff progression, regardless of an individual’s background. Universities need to reflect modern Britain, and ensure that everyone who has the potential, no matter their background or where they are from can thrive at university. I fully expect access and participation plans, which universities will be drawing up this year for implementation in 2020-21, to contain ambitious and significant actions to make sure we are seeing material progress in this space in the next few years. It is one of my key priorities as the Universities Minister to ensure that I work with universities to highlight examples of best practice in widening not only access, but also we redouble our efforts to tackle student dropout rates. It cannot be right that ethnic minority students are disproportionately dropping out of university and I want to do more to focus on student experience to help ethnic minority students succeed at university. Reviewing the Race Equality Charter – Advance HE will look at how the sector charter can best support better outcomes for both ethnic minority staff and students. Figures from the Race Disparity Unit’s Ethnicity Facts & Figure’s website and Office for Students show that while record numbers of ethnic minorities are attending university, only 56% of black students achieved a First or 2:1 compared to 80% of their white peers in 2016/2017, and black students are the most likely to drop out of university. In the workforce, only 2% of academic staff are black. White British low-income males remain the least likely to attend higher education.The Government is committed to working with higher education providers to do everything we can to ensure that a student’s outcomes are determined by their hard work and talent – rather than their ethnic background. Providing better information for students – the Office for Students will develop a new website to replace the Unistats website and take the needs of disadvantaged students into account. The full list of measures announced today involves action by the Government, the university regulator and sector groups, including: I am determined that nobody experiences a worse outcome solely on the grounds of their ethnicity. Which is why the Government is making a clear and concerted effort, alongside higher education partners, to tackle these injustices. These ethnic disparities in higher education cannot be tackled overnight, but I look forward to seeing meaningful and sustained progress in the higher education sector in the next few years. Chris Millward, Director for Fair Access and Participation, Office for Students, said: Gathering evidence on what works to improve ethnic minority access and success – through the Evidence and Impact Exchange. Universities Minister Chris Skidmore said:last_img read more

Press release: UK Export Finance helps Siemens deliver energy security for Iraq

first_img I am delighted that UK Export Finance is supporting the first phase of the refurbishment, which will have such a significant impact on the supply and security of electricity in southern Iraq. This announcement follows the agreement between the governments of the UK and Iraq signed in March 2017, which re-affirmed the UK’s commitment to Iraq’s continued economic development.Darren Davidson, Managing Director – Power Generation Services, Power & Gas, Siemens UK said: Mobile +44 (0)7791 797810 The demand for UK expertise on complex projects like this highlights the UK’s leadership in this sector and I am delighted that UK Export Finance is supporting projects that will have such a direct impact on improving the country’s infrastructure and the lives of the Iraqi people. I encourage likeminded businesses to get in touch with UKEF to learn more about the kind of financial support we can provide. Email [email protected] UKEF will support a €30.2 million contract for the refurbishment of Al Mussaib power station in southern Iraq, the UK government announced today (21 February). The support will enable the rehabilitation of a 320 megawatt (MW) turbine, that will help improve the overall efficiency and output at the power station.Al Mussaib power station, located close to Baghdad, is one of the main providers of electricity for the city. Increasing its output will help secure the supply of basic electricity to Baghdad residents.Minister of State for Trade and Export Promotion, Baroness Fairhead said: Our country cover positions outline our current cover policy and risk appetite for each country. Bond insurance policy Bond support scheme Buyer & supplier credit financing facility Direct lending facility Export insurance policy Export refinancing facility Export working capital scheme Letter of credit guarantee scheme The refurbishment of the Al Mussaib power plant will be hugely important both for the citizens of Baghdad and for our international business. UKEF’s support demonstrates the UK government’s commitment to improving Iraq’s infrastructure and the UK’s energy sector. BackgroundUK Export Finance is the UK’s export credit agency and a government department, working alongside the Department for International Trade as an integral part of its strategy and operations.Our mission is to ensure that no viable UK export should fail for want of finance or insurance from the private market. We provide finance and insurance to help exporters win, fulfil and ensure they get paid for export contracts.Sectors in which UKEF has supported exports include: aerospace, healthcare, infrastructure, telecommunications and transport.UKEF has a national regional network of 24 export finance managers supporting export businesses.Our range of products includes: Media enquiries: Robert Maccabe, Head of Press and Corporate Communicationslast_img read more

Nutrition labelling laws still confusing to some firms

first_imgLarger companies are making more progress towards the mandatory provision of nutrition information, as it is revealed that many firms remain confused.With around four months to go until the main elements of the Food Information to Consumers EU 1169/2011 Regulation (FIC) come in, a report from GSI UK showed that smaller brands were yet to make official steps towards compliance. This was attributed to larger companies having more resources to assign to FIC, as well as remaining confusion among the smaller brands over what is required.Some aspects of FIC are well-known, such as the re-ordering of nutrients in the nutrition panel, but there are a few exceptions where nutrition is not legally required by the FIC at all and these are less well understood.There has been a shift towards presenting ingredients as a single list – perhaps due to the increased font size for mandatory information as space is at a premium.Back-of-pack nutrition information is mandatory, while that on the front is voluntary. Some brands still wish to display nutritional information on the front of pack for marketing purposes, but the placement is important as it has to appear in what is referred to as the ‘principal field of vision’ – the part of the pack most likely to be seen at first glance by a consumer at the time of purchase.FIC also places an obligation on retailers to provide all the mandatory label information (excluding expiry dates) to potential customers through distance selling channels, such as websites.Gary Lynch, chief executive of GS1 UK, said: “There were encouraging signs from this survey, which revealed some general improvements on the findings from the last one undertaken in April. However, the larger brands have made far more visible progress than the smaller brands and we are concerned about possible bottlenecks at the printers towards the end of the year.”We recommend all suppliers of food and drink products make FIC compliance across all channels a priority or they risk not being able to sell their products legally after 13 December.”last_img read more

Edge Data Centers: The Promise and the Peril

first_imgThe following is a guest post from Michael Kanellos of OSIsoft a member of Dell’s Internet of Things (IoT) Solutions Partner Program.Where we put computing assets changes with the times.In the 1950s and 1960s, computers were housed in centralized rooms. Desktops distributed computing power across organizations in the 1980s. Then, ten years ago, the cloud began to gain momentum and you saw companies shut down their own data centers and migrate applications to data centers that rivaled the Pentagon in size.But guess what: the next counter reaction is already underway. Companies are discovering that trying to migrate all of your applications to the cloud generates bandwidth congestion, latency and cost. The recent attacks on some large data centers have also pointed up the risks of centralization.Edge data centers—i.e. modular pods containing half rack to four racks of computing equipment along with the necessary power and cooling systems–won’t replace clouds. Instead, they will supplement them, particularly when it comes to the Internet of Things. An edge data center could be installed at an offshore wind farm to conduct predictive analytics or manage equipment. Intel, among others, estimates that 40 percent of IoT data will never make it to a centralized data center: it will be consumed, analyzed and stored where it was generated with only necessary snapshots of performance or critical data streams being sent to headquarters.Similarly, carriers can locate them in metropolitan neighborhoods to cache videos or other content to improve service. Some early market forecasts predict that edge data centers could become a $6.8 billion business by 2020.But here’s the rub. How do you manage thousands, if not hundreds of thousands, of servers spread across a geographic region? This is the challenge OSIsoft and Dell EMC’s Extreme Scale Infrastructure (ESI) division have set out to solve. You know who Dell EMC is, and its ESI division delivers tailored solutions to large, scale-out markets like carriers and service providers. OSIsoft is probably less familiar but there’s a good chance you’re using our software as you read. We produce software that helps utilities and other large organizations capture and organize data from transformers, oil drilling platforms, production equipment, pumps and other devices. Water utilities use our PI System to help predict demand (or prepare for floods) while brewers use it to maintain an even fermentation across their beers.Dell EMC ESI and OSIsoft are developing best practices for integrating the PI System into its micro Modular Data Centers (MDCs) to monitor electricity consumption, avoid peak power charges, detect early warning signs of failure and other tasks.  This data is collected via a Dell IoT gateway where tier 1 analytics can be applied before sending relevant data to the cloud.  Performance data of fleets of micro MDCs can then be served up to operations dashboards or made available over mobile phones.OSIsoft and Dell EMC have worked together since 2013. The PI System, for instance, is integrated into Dell EMC MDCs deployed by some of the largest cloud providers. The PI System data has helped these customers reduce human error, compare the performance of different modules, automate processes like PUE analysis and make data center commissioning a more repeatable process.A lot of attention is directed to the center, but keep your eyes on the edge. And for those attending Dell EMC World next week, be sure to stop by the Service Provider and Industry Solutions Pavilion to see Dell EMCs micro MDC in person, along with our joint demo that shows operators how they can administer and manage MDCs from all over the world as well as the associated IT from a single point of control.Michael Kanellos is a technology analyst at OSIsoft where his job is to write about the impact IoT will have on our lives. He’s been covering Dell for decades.last_img read more

Saint Mary’s father inspires message of hope

first_imgAs the capstone event of Support a Belle, Love a Belle (SABLAB) week at Saint Mary’s, Tom Seeberg, the father of Elizabeth “Lizzy” Seeberg, addressed the College community in a lecture titled “Believe – Giving Witness to Hope,” in Carroll Auditorium on Thursday evening.Seeberg was a first-year Saint Mary’s student when she committed suicide following an ongoing battle with anxiety and depression. Her death came 10 days after allegations of an Aug. 31, 2010 sexual assault involving former Notre Dame linebacker Prince Shembo. Students said the College community remembers Seeberg as an outgoing, smiling, caring student who loved Saint Mary’s and her fellow Belles.Senior and co-chair of the student government association’s (SGA) social concerns committee Kaitlyn Tarullo said SABLAB started in 2011 partly as response to Seeberg’s suicide.“Her story is extremely important, and we felt like it was an appropriate time to invite Mr. Seeberg back to reflect on his journey a few years later,” Tarullo said. “Hope is an attitude that can start with a daily struggle but then eventually, over time, transforms into a lifestyle.”Tom Seeberg began his talk by reflecting on the Saint Mary’s campus, which he said remains a positive place for him and his family.“It is always awesome to come to this campus, and you might think it wouldn’t be … [but] in the days that, if you will, followed Lizzy’s death, so many wonderful things happened for us,” Seeberg said. “I am honored that you think I can deliver some message of hope to you all … [for] this is such a great and spiritual place for us.”Though he has no professional credentials in speaking on mental health, sexual assault or spirituality, Seeberg said he does have the credentials of being a dad.“I’m Tom Seeberg, but I really love being known as Lizzy’s dad. It’s one of the proudest things anyone could call me,” he said. “And I can assure you that what I tell you about my journey here is not manufactured; the foundation of it came in the immediate days following Lizzy’s death, and the power of those days has never left me.”He said hope, for the Seeberg family, coincides perfectly with the mission of the Holy Cross order, the meaning of Spes Unica and the realization of the difference between little hope and what he called “capital-H Hope.” Before discussing how he found hope, though, Seeberg painted a picture of his loving daughter and Belle, Lizzy.“She was very, very outgoing – you would have to meet her several times before you understood she suffered from an anxiety disorder,” he said. “We became soulmates [and] closer through her struggle. We participated in some therapy together; we became real good buds.“She told us everything. There was never any holding back. Through her bouts of depression, she was always very good at raising the white flag and saying she needed a time-out.”He and his wife, Mary, first began dealing with signs of Lizzy’s anxiety and depression issues when she was in the eighth grade, Seeberg said.“She was going to be dealing with anxiety and depression for the rest of her life,” he said. “Difficult situations for everybody were always going to be more difficult for her … but the thing about Lizzy was, she wanted to get up every day and punch life in the face. She wasn’t going to be denied having a normal life, and [going to] college was an important part of that.”However, after a difficult first semester at the University of Dayton, the Seeberg family decided there must be another alternative for Lizzy to better support her mental health, he said. The alternative was Saint Mary’s, where Lizzy wanted to enroll as a first-year and have a fresh start in college.“She felt she knew more about herself, and she felt very confident [at Saint Mary’s],” he said. “Some of her doctors are on record saying she was as strong and determined as they’d ever seen her. She was very committed to us in saying ‘I’m going to use all my tools and all my resources,’ meaning diet and exercise, the counselors here, her friends [and] us.”However, in the final days of her life, Lizzy Seeberg faced challenges that were beyond her capacity, her father said.“[On September 9th], she went to a sexual assault awareness event, and for whatever reason, I think it hit her, and it all began to unravel and close in,” he said.Following his daughter’s death, Tom Seeberg said there came moments of grace that began to build “capital-H Hope.”“As we were walking the dog [that Sunday], we were talking and saying, ‘Let’s be real about this, something has hit us here that’s the worst possible thing that can happen, and it became this prayer – a simple prayer of ‘God, show us the way. We need this to be our finest hour. We need these next several days to be our finest hour,’” he said.For the Seebergs, the funeral and burial process were dark, but also beautiful, as the “Lizzy spirit” pulled the entire family together, he said.“Over that next week, we saw our faith; we saw hope and love carry us,” Seeberg said. “I was the only one able to make it to the memorial here, [and though] I’ve never been a touchy-feely faith guy, I’ve never been an evangelizer or anything like that … when Caroline Bacchus’ [Lizzy’s former roommate] mom embraced me, it was just incredible. And when we were about ready to walk into the chapel, and there were some 400 folks in there, it was incredibly moving.“And when Carol Mooney handed me Lizzy’s class ring … and said, ‘Once a Belle, always a Belle,’ I just about collapsed. I have to say, it was about the first time in my life I’ve been touched like that.”For Tom Seeberg, this build-up of spiritual moments led him to what he called “getting it.”“The reason why we are here on earth, we can know it intellectually, but I didn’t really get it until then,” he said. “It’s this ability to go beyond ourselves, to cry tears of happiness or tears of grief … it’s to experience love that is transforming.“That’s the big capital-H Hope, and all other hope rests upon that. Light does conquer darkness; life will conquer death, and we will see Lizzy again. And therefore, get about acting as a witness to that belief, and that means doing something. … For us, it meant moving forward, not moving on. Wear the scar – it’ll fade, but wear it for all it means. And do something positive with it.“That’s the spirit in which we’ve been living,” he said. “The reality of Lizzy never leaves me … so hope is where we live. Our prayer in desperation was answered.”In the conclusion of the talk, Seeberg discussed the issues of mental illness and sexual assault on college campuses, wishing for Lizzy to be a symbol of hope in such challenges.With respect to mental illness, Seeberg said he is grateful for an increased awareness of mental health and a decreased stigma compared to 10 years ago.“There’s hope in your efforts in Support a Belle, Love a Belle and Irish State of Mind initiatives. There’s hope in just talking about it,” he said. “There’s hope when people get a little edgy about it. … There’s hope in asking for help. You have to believe that help is available for you if you need it, and there’s hope in the help that’s available.”In regard to sexual assault, Seeberg said from his family’s experience and their approach in prayer, he wishes for an increased awareness of sexual assault support.“We just pray that we serve Lizzy’s memory well with our message and her wishes – which were to help the next woman,” he said. “… Being a gentleman works. And I think in a place where there’s world-class education and academics … world-class facilities and even world-class athletic programs, that we should know and demand for a world-class response to sexual assault.”Seeberg said he believes there is a lot of promise in developing attitudes to the issue of sexual assault, and we are starting to see more of a culture of commitment, but student activism needs to be behind it for it to be fully successful.“You’re not going to change the world by complying with federal regulations, you’re going to change it when students demand better of their institutions,” he said. “I’d like to believe that Lizzy’s name adds to that hope.”Senior Chloe Deranek, co-chair of SGA’s social concerns committee, said Seeberg’s talk perfectly underscored SABLAB’s message of hope for the community in raising awareness of both mental health and sexual assault.“Mr. Seeberg’s message showed students how valuable hope is to have and hold onto and more than that, how to find hope when you are lost without it,” Deranek said. “I think his talk underlined the power of the Saint Mary’s sisterhood and how it extended beyond his daughter to his family as well.”Tarullo said she hopes Lizzy’s story continues to inspire a conversation about mental health issues, for Lizzy is a symbol on campus for continued awareness and support.“Lizzy was, is and will forever be a Belle,” Tarullo said. “You may not know the story behind everyone on campus, but you should know that everyone has a story to tell.“It is my personal hope that people listen to Lizzy’s and Tom’s stories and reflect on their own. Do I model hope in my thoughts, words and actions? Do I seek to bring hope to others in need?”Tags: Irish State of Mind, Lizzy Seeberg, love a belle, Mental health, mental health awareness, mental illness, mr. tom seeberg, SABLAB, seeberg, support a belle, support a belle love a bellelast_img read more

Edward Watts to Join The Fantasticks Cast

first_img Related Shows View Comments The cast of The Fantastics also includes Jim Schubin as The Boy (Matt), Samantha Bruce as The Girl (Luisa), George Lee Andrews as The Boy’s Father (Hucklebee), Donald Corren as The Girl’s Father (Bellomy), MacIntyre Dixon as The Old Actor (Henry), Michael Nostrand as The Man Who Dies (Mortimer) and Pierce Cravens as The Mute. The production also features Scott Willis, Rita Markova, and Tom Flagg. The Fantasticks Directed by Tom Jones, The Fantasticks has a book and lyrics by Jones and music by Harvey Schmidt. A modern twist on Romeo and Juliet, the musical tells the story of a boy and girl who fall in love and then quickly grow apart when they realize they want to experience the world. The Fantasticks features memorable songs “Try to Remember,” “Much More,” “They Were You” and “Soon It’s Gonna Rain.” Show Closed This production ended its run on June 4, 2017 Edward Watts (Scandalous, It’s a Bird…Plane…It’s Superman at Encores!) is joining the cast of The Fantasticks at off-Broadway’s Snapple Theater Center. He will take over from Jeremiah James as the Narrator (El Gallo) on April 28 for a two-week engagement, playing through May 12. The long-running show’s 56th anniversary is on May 3.last_img read more

Wood Mackenzie: ‘Low-risk’ renewables now offer same return as oil and gas projects

first_img FacebookTwitterLinkedInEmailPrint分享Recharge:Investor payback from wind and solar projects is now competitive with oil and gas as the price for crude languishes at under $25 per barrel (bbl) following the market collapse fueled by the spread of coronavirus — and would be even at $35/bbl, according to analyst group Wood Mackenzie.Before the pandemic, when the price of crude was at $60/bbl, wind and solar projects’ average 5-10% internal rate of return (IRR) “found it difficult to compete with expected double-digit returns” for oil and gas, said Valentina Kretzschmar, vice-president of corporate analysis. But even if the oil market were to rebound, the growing pressure on the sector to commit to net-zero carbon meant renewable energy “presented opportunities for companies with strong balance sheets,” she added.“Our analysis shows that 75% of pre-final investment decision projects globally would return less than the cost of capital, assumed at 10%…Oil and gas projects are now in line with average returns from low-risk solar and wind projects,” WoodMac said in a special note on the impact of coronavirus on the oil and gas sector. “Capital allocation is no longer a one-way street for Big Oil — renewables projects suddenly look as attractive as upstream projects at $35/bbl.”Kretzschmar downplayed notions that the swinging “survival mode” cuts now being made by oil and gas companies to discretionary spending would impact on renewables investments — as many, including the International Energy Agency (IEA), have feared. “Historically, the oil price has shown no correlation with investment in renewables. The installation of both wind and solar continued to increase through the last oil price downturn,” she said.“Oil and gas companies make up a tiny proportion of global investment in renewables. The sector accounts for less than 2% of global solar and wind capacity. Even if Big Oil stopped investing in renewables altogether, that would have a minor impact on growth.”Kretzschmar noted, nonetheless, that in the short-term, the oil and gas sector will “struggle to generate enough cash to maintain operations and honour shareholder commitments” in a sub-$35/bbl industrial landscape, with all discretionary spending “including additional budget allocated for carbon mitigation” being put under review.[Darius Snieckus]More: Investor returns on renewables projects ‘now competitive with oil & gas’ as coronavirus strikes Wood Mackenzie: ‘Low-risk’ renewables now offer same return as oil and gas projectslast_img read more