A costly, catty dispute finally settled View comments LATEST STORIES Guess who’s in the house? @IsaiahAustin #zeke pic.twitter.com/0P12v8U2zD— Chot Reyes (@coachot) September 12, 2017Isaiah Austin is ready to lead Gilas Pilipinas’ campaign in the Fiba Asia Champions Cup in Chenzhou, China.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smogAustin, a former star out of Baylor University, arrived in Manila late Tuesday night.ADVERTISEMENT Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award “I’m here. Ready to get to work. Thank you all the fans for the endless love and support that I’ve received already,” Austin wrote.The 7-foot-1 center, who last played in the Chinese National Basketball League for the Guangxi Rhinos, is also being considered as a candidate for naturalization.Austin is one of two Gilas imports in the tournament, featuring top club teams in Asia including the defending champions Xinjiang Flying Tigers led by Andray Blatche.Gilas, which will be under the banner of Chooks-to-Go, also tapped University of the Philippines’ Bright Akhetie as its other reinforcement.The 23-year-old Austin has an inspiring story to tell. He declared for the 2014 NBA Draft after playing two years in college.ADVERTISEMENT Learning about the ‘Ring of Fire’ PVL men’s: Ateneo gets third straight win, FEU claims solo second Don’t miss out on the latest news and information. He was a highly-touted prospect until he was diagnosed with Marfan syndrome, which is an inherited disorder that affects the body’s connective tissue, that nearly ended his basketball career.Austin was given the go-signal to continue playing basketball in 2016 and is now on a path to reintroduce himself who he once was on the court.In college, he was a member of the Big 12 All-Defensive Team in 2014 and an All-Rookie Team in 2013.Sports Related Videospowered by AdSparcRead Next Break new ground It’s too early to present Duterte’s ‘legacy’ – Lacson Winning start OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson MOST READ End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend A costly, catty dispute finally settled He wasted no time in thanking Filipino fans on his Twitter account for greeting him with a warm welcome upon his arrival. End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend
Members of the Essequibo Naujawan along with the families that benefited from the back-to-school driveThe youth arm of the Guyana Hindu Dharmic Sabha Essequibo Coast branch, Dharmic Naujawan, and the Guyana Sevashram Sangha, commonly called the Cove and John Ashram, located on the East Coast of Demerara, distributed school supplies to children in various communities on the Essequibo Coast, Region Two (Pomeroon-Supenaam).On Wednesday and Thursday, school items, including stationery and clothing, were handed out to children at two different locations by Swami Shiva Shankarnanadaji of the Ashram.He underscored the importance of an education and the need for parents to send their children to school. The Swami further posited that it was the Ashram’s hope that the items distributed would in some way contribute in assisting parents to send their children back to school. Copies of Hindu scriptures were also given to the beneficiaries.Several parents expressed their gratitude to the Ashram for the timely contribution. The back-to-school drive was one of the many charity works done by the Ashram under Shiva Shankaranandaji’s stewardship.Meanwhile, at a simple handing-over ceremony on Saturday, held at Airy Hall Mandir, Chairman of the Essequibo Coast Dharmic Naujawan, Nandram Prabhu, told parents that the back-to-school drive was held with the aim of assisting parents to send their children off in the new school term all prepared for the academic year ahead.He also called on parents to send their children to school regularly and punctually. Prabhu noted that the back-to-school drive was one of the many charitable works undertaken by the youths in the religious organisation to assist the less fortunate.Among the items distributed to the about 15 children were bag packs, stationery, and footwear.Parents expressed their gratitude towards the youths of the organisation for the timely intervention. Most of the families that benefited from the assistance were headed by single parents. Several other executive members of the Essequibo Naujawan were also present at the handing-over ceremony.
Owen Hargreaves could feature for QPR in a pre-season friendly later today.The former England international has been training with Rangers and is expected to be involved in at least one of their two matches in Germany.They play Turkish side Trabzonspor this weekend and are scheduled to take on Augsburg next Saturday.Hargreaves, a free agent after being released by Manchester City, is hoping to save his career following a long battle with a knee complaint.See also: Striker left out of QPR’s squad for visit to GermanyFollow West London Sport on TwitterFind us on Facebook
(Visited 430 times, 1 visits today)FacebookTwitterPinterestSave分享0 We’re all human, but some of us have brains twice the size of others. And areas inside the brain can vary, too. What does this mean?P. K. Reardon and a team of neuroscientists, publishing new research in Science, studied the brains of 3,000 individuals and found a lot of variation. To evolutionists, this should be surprising, because we’re all members of the same species, Homo sapiens, and all humans are interfertile. We can all learn to eat the same food, we can learn each other’s languages, and we can make children. The same variability we see in body shapes and sizes, hair types, eye color, skin color and other outward traits extend inside our brains as well. Reardon’s team tried to bring evolution into the picture, but how successful are they?Brain size variation over primate evolution and human development [growth from the embryo] is associated with shifts in the proportions of different brain regions. Individual brain size can vary almost twofold among typically developing humans, but the consequences of this for brain organization remain poorly understood. Using in vivo neuroimaging data from more than 3000 individuals, we find that larger human brains show greater areal expansion in distributed frontoparietal cortical networks and related subcortical regions than in limbic, sensory, and motor systems. This areal redistribution recapitulates cortical remodeling across evolution, manifests by early childhood in humans, and is linked to multiple markers of heightened metabolic cost and neuronal connectivity.Their use of “recapitulates” sounds awfully [literally ‘awful-ly’] like Haeckel’s discredited Recapitulation Theory, which has been thoroughly debunked by Jerry Bergman in his new book Evolution’s Blunders, Frauds and Fallacies, ch. 10. The organization of human brains today has nothing in common with evolution from a presumed ape-like ancestor. It is not retracing evolutionary steps. Certain human brain regions are larger than others, but Reardon’s team presents no transitional forms on which to base that claim, and watching a baby grow doesn’t reveal what mythical path an ape took on the road to humanity. He doesn’t even mention any archaic humans in his paper—not Homo erectus, not Neanderthal Man, not Homo naledi or the Hobbits.Writing a Perspective piece about Reardon’s paper for Science, David Van Essen, too, tries to drag evolution into the picture. He also links the evolution of the human species to the embryonic development of the individual, implying some kind of recapitulation.What makes humans unique as a species and as individuals? Our uniqueness stems from language, tool use, reasoning, and other cognitive abilities that are largely mediated by specialized regions of the cerebral cortex. These regions of higher cognitive function have expanded disproportionately during human evolution (compared with nonhuman primates) and during postnatal maturation, when cortical surface area expands threefold between infancy and adulthood. Our uniqueness as individuals reflects countless differences in brain structure, function, and connectivity. One basic anatomical difference between similarly aged individuals is a more than 1.5-fold variation in total brain size (and total cortical volume). On page 1222 of this issue, Reardon et al. bring this aspect of individual variability under the umbrella of “differential scaling” by showing that human brains of different sizes do not scale uniformly across all regions. Rather, larger brains show greater expansion in regions associated with higher cognition and less expansion in regions associated with sensory, motor, and limbic (emotion- and affect-related) functions.Van Essen and Reardon’s team both try to associate IQ with brain size. This cannot be the case, or else large men would always be smarter than petite Asian women. Any math professor can tell you that is not necessarily the case; perhaps the converse is true! Reardon’s team did not draw any correlations, in fact, between body size and brain size. They did, however, submit every participant to a Wechsler IQ test, a highly dubious measure that is subject to criticism by other scholars (e.g., a paper in the Journal of Psychoeducational Assessment). Even though they only said that everyone scored at least 80 on the test, whatever use they made of IQ should be tossed out. Human beings are far too complex and individualistic to be rated on a linear scale, and definitions of intelligence are also subject to cultural and linguistic biases. Van Essen shares other reasons for doubt about brain evolution:A simple a priori hypothesis is that brains of different size might be linearly scaled versions of one another. However, there is already evidence against this hypothesis, insofar as the cerebral cortex is a mosaic of many cortical parcels (areas) that each show more than twofold individual variability in size. But are individual differences in the size of various parcels correlated systematically, for example, according to function? Reardon et al. analyzed data from more than 3000 healthy individuals, drawn from three independent cohorts: the Philadelphia Neurodevelopmental Cohort (PNC) and National Institutes of Health (NIH) cohort (each comprising children and young adults), as well as the Human Connectome Project (HCP) cohort (comprising young adults only). By using in vivo structural magnetic resonance imaging (MRI) scans of individual brains, surface models of the cerebral cortex were generated and aligned to a surface-based cortical atlas. Local cortical surface area was then expressed in relation to individual differences in total cortical surface area (see the figure). Notably, both age and sex were ruled out as confounding factors, even though average brain size differs by age and sex. Areal scaling maps show broad similarities across the three cohorts in terms of which regions are expanded in larger brains (positive scaling) and which are less expanded in larger brains (negative scaling). However, there are many differences across the three cohorts, and regions that pass statistical significance for only one or two cohorts might not reflect genuine neuroanatomical effects. Given concerns about reproducibility, it is notable that Reardon et al. carried out what is effectively a multicohort reproducibility analysis.Real brains do not come with dotted lines around regions, like a “cortical atlas” might. The methods and findings indicate a great deal of subjectivity and assumption. The only sound conclusion from this study of 3,000 individual brains (people who responded to an advertisement) is that the humans show a large amount of variation in size and shape of their brains, and yet they are all members of the same species.The paper could get by easily without any reference to evolution. Reardon et al. could simply show differences between human and ape brains, and show the extent of variability between human brains. That would be science. Asserting any Darwinian connection between apes and humans, without demonstrating how blind chance could have crossed that chasm, goes far beyond the data.Evolutionists continue to show fascination with brain size, and yet they know from past blunders to be politically correct and not rank humans by race or ‘fitness’ (whatever that is). Creationists can draw different conclusions. Knowing that brain size can vary twofold among living humans, what about dead humans? When you find a small skull in Homo naledi, or the Hobbit, does that imply they were less intelligent, or less human? Absolutely not. There are small people with small skulls today, and large people with large skulls. One cannot predict their intelligence except by getting to know them. And a ‘dumb’ person, with a little education and time, can get smarter. For all we know, the small-stature humans were intelligent even with fewer cubic centimeters of skull size. Another important conclusion we can draw is that humans, unlike other species, show tremendous individuality. Look at one minnow, or one crow, and you’ve seen pretty much all of them. No two human faces are alike. No two human personalities are alike. And now, we see that no two human brains are alike. This is more evidence that we are each unique beings made by God for His glory. Use your brain for that, not for sacrificing to the Bearded Buddha.
Many of South Africa’s most successfulwines are grown and produced in theDurbanville valley.(Image: MediaClubsouthafrica.com,courtesy of Durbanville Wine Valley. Formore free photos, visit the image library)MEDIA CONTACTS • Melanie ChristianSA Wines Online+44 845 456 2365• Lorraine Immelman-SteynMichelangelo International Wine Awards+27 82 556 8679RELATED ARTICLES• SA scoops world wine awards• Wine on the wold side• SA wine brings comic relief• Wine-tasting in the township• Paul CLuver lauded by wine tradeWilma den HartighSouth African wines have performed impressively of late at numerous prestigious international wine awards. Against strong competition from overseas, the local wine industry has proved yet again that wine is one of South Africa’s most successful exports.SA Wines Online MD Kevin Gallagher says in the past five years South African wines have grown in quality and offer outstanding value for money.“South African wines are able to compete with any other wine producing region in the world,” he says.Michelangelo International Wine AwardsWines from estates in the Western Cape’s Durbanville Wine Valley claimed top honours at the Michelangelo International Wine Awards. This competition started in 1997 and although it’s a home-grown event, is distinctive in the industry as all the judges but one are international.The aim of the competition is to find South Africa’s best wines that will also be well accepted in the international market, and, say the Michelangelo organisers, any local wine that’s been commended by 15 international wine experts should have no problem in overseas markets.Diemersdal won the trophy for the year’s top producer, and its estate wines received six gold medals and five silvers. The gold awards went to: the Diemersdal Sauvignon Blanc 2010, Diemersdal Eight Rows Sauvignon Blanc 2010, Diemersdal Chardonnay Unwooded 2010, Diemersdal Single Vineyard Sauvignon Blanc 2010, Diemersdal Eight Rows Sauvignon Blanc 2009 and Diemersdal Single Vineyard Sauvignon Blanc 2009.Diemersdal winemaker Thys Louw says the accolade shows that their wines are well up to international standards. He commended the entire Diemersdal vineyard and cellar team, including his father Tienie and co-winemaker Mari van der Merwe for their success.“We can produce such good wines because we put a lot of effort into making them,” Van der Merwe says.The geographical location of the Durbanville area is another major advantage for winemakers and the area is known to produce top Sauvignon Blanc wines. It is close to the Atlantic Ocean, the soil is very fertile, and the climate is ideal. Annual rainfall of about 700 mm also affords good soil moisture for grape cultivation.The Louw family, who have owned the Diemersdal estate for six generations, also attribute their success to minimal cellar intervention. This approach conserves the “prominent varietal character” in their wines.Other member farms of the Durbanville Wine Valley also walked off with top awards. Altydgedacht won the Sue van Wyk Pinotage Trophy and a Grand D’Or (double gold) for Altydgedacht Pinotage 2009. This estate is one of the oldest in the country.Bloemendal took home the Michelangelo Grand D’Or for its Suider Terras Sauvignon Blanc.Durbanville Hills’ reputation for producing extraordinary wines across a range of varietals was further entrenched with its three gold medals. The 2009 single-vineyard Biesjes Craal Sauvignon Blanc, 2010 Durbanville Hills Merlot Rosé and 2009 Rhinofields Pinotage took top honours.De Vallei won gold for its 2010 De Vallei Sauvignon Blanc, and Nitída received gold for its 2009 Woolworths Limited Release Semillon.Durbanville Wine Valley Association chairman Righard Theron agrees that the Durbanville area’s viticulture terroir (the sensory attributes of wine in relation to the environmental conditions where grapes grow) contributes significantly to the area’s winemaking success. The altitude of the surrounding hills brings both cooler and warmer weather and this makes it possible for farmers to produce different varieties. It is also possible to produce different styles of wine from the same variety.The 2010 Tri Nations Wine ChallengeNederburg’s 2005 Private Bin Edelkeur received the trophy for top dessert wine in the 2010 Tri Nations Wine Challenge which, like its rugby counterpart, was contested between South Africa, Australia and New Zealand.This accolade is a big honour for South Africa, as it proves that local wines are being noticed. Wines in this competition are submitted by invitation only.In a statement, cellar master Razvan Macici says the 2005 Edelkeur has a luminous golden colour and a fragrant blend of peach, apricot, honey and spice. “Its honey-type sweetness contrasts with a lively, refreshing acidity to give it a pleasingly harmonious balance.”Current Nederburg winemaker Tariro Masayiti says this dessert wine should be celebrated, as it is part of South Africa’s wine heritage and was first produced by the estate’s legendary Günter Brözel, who was appointed as winemaker in 1956. The wine was released at the inaugural Nederburg Auction of Rare Cape wines in 1975, and today is still only sold through the auction.Nederburg’s international brand representative Lynette Harris has been quoted as saying that the award affirms the producer’s status as a top producer of dessert wines. “The winery consistently outperforms its competitors on international and domestic shows,” she says.Anthonij Rupert Wines did the nation proud by being the only South African gold medal winner in the”‘other red varieties” category with its Anthonij Rupert Cabernet Franc 2006. This range is produced at the L’Ormarins estate where the team attributes their winemaking success to selection of the best fruit, and cellar production techniques such as the gravity feed process.In a gravity flow winery, neither the grapes nor wine are moved by pumps. Instead, grapes fall naturally into the fermenting tanks, and wine then moves from the fermenters to the aging barrels. The winery setup usually consists of multiple levels, making it possible to use gravity to move the grapes and wine through processing.Accessible to consumersSA Wines Online, an online retailer that sells South African wines in the UK, was honoured by the Decanter World Wine Awards with its Specialist Merchant of the Year accolade. In this category, the judges assess wine merchants on criteria such as quality, value, range, innovation and customer service.It is one thing to produce good wines, but for the wine industry to grow, more people have to become familiar with wine, and buy it. SA Wines Online took top honours in this category for designing their website to be accessible to consumers, and offering expert advice on the South African wine industry.Kevin Gallagher, MD of SA Wines Online, says although the company is virtually unknown to the average South African consumer, it has grown so much that wineries are approaching them to sell their wines in the UK.“This is another reason why we have the biggest selection of South African wines on offer to the UK and the European customer,” he says. The company stocks more than 1 000 wines from 135 wineries, and sells the largest range of South African wine in the UK. Fully 80% of its customer base is British.At the awards ceremony Gallagher said that it is encouraging that so many South African wines are available to UK consumers. “Local wines are becoming serious contenders on the world wine scene,” he said.Progressive wine industryThe South African wine industry has proven to be progressive in discerning what local and international wine consumers want.Van der Merwe thinks that South Africa’s wines are so exceptional because there are many new winemakers entering the industry. “They are keen to experiment and take the time to investigate what makes a good wine,” she says.Gallagher says that the South African wine industry made a remarkable comeback when it re-entered the international wine scene in the early 1990s. Many winemakers realised that they had fallen behind the rest of the world, but they were quick to travel and study winemaking methods of other wine producing regions. New grape varieties were also introduced.“Even now, young winemakers are still travelling to other wine producing regions, partaking in the harvests and seeing alternative techniques and methods of wine producing,” he says.South Africa is one of the few wine producing regions that enjoys copious sunlight throughout the year, and this is particularly favourable for growing grapes. “South Africa’s wines are found to have a high flavour and varietal expression and our climate allows for this,” says MasayitiHe says there is also no shortage of good quality, easy-to-drink wine to enjoy with a meal, or simply on its own. The market for wine is changing, and more people are expressing an interest in tasting wine and drinking something that they like.South African wines are also becoming more popular in other international markets and the African region. Gallagher says the UK is the biggest export destination for South African wines and large quantities are shipped to the rest of Europe. Alternative destinations such as the rest of Africa, the Far East, and North America are becoming increasingly important to the industry. South Africa is also the biggest supplier of wines to Sweden.“A large number of wine experts foresee China and Japan to be the next great market in terms of growth potential for the international wine industry,” he says. For more free photos, visit the image library)
Does your startup need a lawyer? I can’t legally answer that question, of course. My background is in folklore and literature, so when it comes to lawyers I’m able to quote Shakepeare’s Henry VI or reference Madame Bovary, and that’s about it.Laugh all you want at my background, but I would wager a lot of first-time entrepreneurs aren’t certain of the answer to whether or not they need a lawyer either. So I called one – Katherine Moyer, an attorney who specializes in startups at Endeavor Law GroupWhen1. Forming a business entity2. Drawing up employee contracts and documentation (including internship agreements)3. Addressing compensation with equity4. Securing trademark and other applicable IP protections5. Drawing up contracts for strategic relations (vendors, key clients, consultants)6. Formalizing investor agreements7. Selling your businessThe thought of facing all these legal bills is pretty overwhelming. And that’s part of the reason why you want to find a good attorney, preferably one with knowledge of the intricacies of tech startups (Their advice and expertise might be different, for example, than a lawyer who specializes in setting up family businesses). In order to stretch your budget for legal fees, Moyer recommends getting quotes and estimates from lawyers. She also encourages you to talk frankly with your lawyer about your needs, and to be able to discuss with them, referring to the list above “whether it’s alright to just do 1 and 6 now.” But cost shouldn’t be the only factor in mind as you select legal counsel, because as the word “counsel” suggests, you do want good want good advice.Of course, that’s easier said than done. (See Scott Walker‘s “Top 10 Reasons Why Entrepreneurs Hate Lawyers.”) On Thursday, entrepreneur and professor Steve Blank wrote an explanation of “Why Lawyers Don’t Run Startups.” As with most things you’ll find online about entrepreneurs and attorneys, it’s a cautionary tale, one of a lawyer nearly ruining one of his business deals. Blank offers the following lessons learned:1. Lawyers provide a service; they are not running your company.2. If you find a lawyer who talks about solutions not problems, hold on to them.3. In every company that gives you a contract there’s someone who wants a deal. When you run into contract issues, call them first for advice.4. Recognize whether you have a legal problem or strategy problem.5. The web has great blogs by lawyers who get it. Read them.Blank urges entrepreneurs to get a good lawyer but then “to know how to ask for [a lawyer’s’] advice and when to ignore it.” Thankfully there are a lot of legal resources out there to help you learn to do that. 8 Best WordPress Hosting Solutions on the Market Tags:#How To#start Related Posts Why Tech Companies Need Simpler Terms of Servic… Top Reasons to Go With Managed WordPress Hosting audrey watters A Web Developer’s New Best Friend is the AI Wai…
Tags:#aclu#now#Obama administration#Prism nick statt The next development in the sprawling PRISM scandal may see the Obama Administration in court. The American Civil Liberties Union, as a customer of Verizon, claims that the collection of massive amounts of data by the NSA has violated its First Amendment rights of free speech and association as well as the right of privacy guaranteed by the Fourth Amendment.(Read more: PRISM Fallout Part 2: Companies Will Store More Data Behind The Firewall)The ACLU, alongside the New York Civil Liberties Union, has filed a constitutional challenge to the program. “The program goes far beyond even the permissive limits set by the Patriot Act and represents a gross infringement of the freedom of association and the right to privacy,” wrote Jameel Jaffer, the ACLU’s deputy legal director. The brief is available in full here.In related news, Google has asked the U.S. government for permission to add national-security requests for user data it receives under the Foreign Intelligence Surveillance Act (FISA) to its regular transparency report. 8 Best WordPress Hosting Solutions on the Market Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai… Related Posts Top Reasons to Go With Managed WordPress Hosting
Continue Reading Previous Teledyne LeCroy launches 10- and 15-GHz TDRsNext GrammaTech integrates static analysis engine Julia into CodeSonar Kontron announced the S2000 Development Platform and the upcoming release of its COBALT S1901 platform. Designed to help fast-track autonomous application software in a lab environment, the S2000 Development Platform enables defense application developers to experiment with, test and validate actual-size PCIe GPU or accelator cards used in defense system deployments. With the S2000, designers of complex and challenging new autonomous, artificial intelligence (AI) and deep learning military applications can optimize the configuration and system platform for production deployments.The S2000 features the Intel Xeon scalable 8160T 24-core processor providing a powerful development tool that helps accelerate innovation. Additional processor options are available. The platform has an expansion slot for full-sized GPU, FPGA accelerators and video PCIe cards and a modular, ruggedized carrier board that is suitable for deployment. It also offers 128 GB of M.2 storage and can be purchased in a liquid or air-cooled chassis.The COBALT S1901 HPEC platform features multiple GPU, FPGA accelerator cards or video module options. It offers extensive high-speed I/O options such as 10 GbE copper or fiber, USB 3.0, ruggedized connectors for RF and camera interfaces. Storage capacities are met with its M.2 NVME slots or high capacity 2.5-inch SSD slots (fixed or removable). The latest COBALT platform also offers WiFi and/or LTE cellular modem connectivity options. In addition, it provides superior DSP performance, is ruggedized for harsh environments and meets the military’s strict SWaP-C guidelines.The COBALT S1901 employs Kontron’s proven, open-architecture COMe-bDV7R Computer-on-Module that delivers server-grade performance via its Intel Atom processor C3000 series processor performance and its multi-processing cores permit mulitple configuration options allowing one design to scale across many use cases. It is available with up to 64 GB of RAM, with additionally available COMe module, processor and memory options. Customers can also select from air cooled assist and conduction cooled platform options.Share this:TwitterFacebookLinkedInMoreRedditTumblrPinterestWhatsAppSkypePocketTelegram Tags: Tools & Software
TagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Juventus organise signing ceremony for Arsenal midfielder Ramsey next weekby Carlos Volcano10 months agoSend to a friendShare the loveJuventus have organised a signing ceremony for Arsenal midfielder Aaron Ramsey for next week.Sky Italia says the Wales international will fly out after Juve have played Milan in the Italian Super Cup on January 16.Ramsey, off contract in June, has agreed terms with Juve worth €7.5m per season over five years.He will sign his pre-contract with Juve, but see out the season in London.Ramsey will start training with Juve in July.
CALGARY – Canada’s oilsands industry, hard hit by a price storm this year, could be sailing straight into a pricing typhoon stirred up by new fuel standards for the international shipping industry.The tighter pollution rules by the International Maritime Organization, dubbed IMO 2020, are set to take effect Jan. 1, 2020, resulting in the sulphur content limit of “bunker” fuel on ships dropping from 3.5 per cent to just 0.5 per cent.The switch is expected to wallop prices for heavy oil containing high levels of sulphur — exactly the kind of the raw bitumen that makes up about half of Canada’s 4.4 million barrels per day of crude oil production.“It’s bad news for any producers of heavy, sour crude oil,” said Martin Tallett, president of Massachusetts-based oil market research firm EnSys Energy.“The shock is going to go through the system and affect all products, all regions.”Canada’s energy industry faced a widening spread between Canadian heavy crude prices compared with New York-traded West Texas Intermediate earlier this year that many observers blamed on a shortage of capacity on export pipelines out of Canada.The coming marine shipping rules could double or even triple the discount on Canadian heavy, pushing it potentially much wider than the US$30 a barrel discount producers encountered earlier this year, Tallett said.The resulting decline in demand for bitumen compared with lighter crudes could result in higher discount prices that last until 2022, according to a report from RBC Dominion Securities researchers.The looming deadline is a concern at Calgary-based Cenovus Energy Inc., where about 360,000 barrels per day or 91 per cent of its overall production is bitumen, produced from its steam-driven oilsands wells in northern Alberta.The IMO 2020 rules, along with uncertainty about when pipeline bottlenecks will be cleared, and limits on the company’s ability to process its oil at the U.S. refineries it co-owns, are issues to consider before any moves are made to expand production, said downstream senior vice-president Keith Chiasson.“We are obviously watching that space,” he said on a recent conference call, adding, “Do we want to bring new production growth into that market if we start seeing (new pipelines) deferred and delayed as well as the IMO impact coming?”The US$30 discount paid for bitumen-blend Western Canadian Select versus WTI in the first quarter, up from its typical discount in the mid-teens, prompted Canadian Natural Resources Ltd. to rein in bitumen production and led Husky Energy Inc. to buy more oil from others because it was cheaper than producing its own.Uncertainty continues to plague proposed new export pipelines including TransCanada’s Keystone XL project, the expansion of the Trans Mountain pipeline (despite it being sold to the federal government) and Enbridge’s Line 3 pipeline replacement as environmental opposition to the projects remains high.Environmental concerns have also prompted action in the marine shipping industry, which is considered a highly energy efficient way to move goods over long distances but still harmful due to emissions.Most bunker fuel burned on ships is derived from the “residue” that remains after all of the more valuable light fuels such as gasoline and diesel have been removed from crude oil in a refinery.Following combustion in the engine, the sulphur in the fuel becomes sulphur oxide, a pollutant that causes respiratory symptoms and lung disease as well as acid rain, which can harm crops, forests and aquatic species, and contributes to the acidification of the oceans.The IMO first began restricting emissions in 2005 and its limits on sulphur in bunker fuel have been progressively tightened. Four “emission control areas” in Europe and North America already have a 0.1 per cent limit.Bunker fuel prices are expected to rise as the IMO 2020 standards lead to expensive upgrades at refineries around the world — by up to US$60 billion per year if there’s full compliance with the new rules, consultancy Wood Mackenzie said in an April study.It estimates demand for bunker fuels will total about 5.3 million barrels per day in 2020, far exceeding the anticipated world supply of about 1.2 million bpd of ultra-low sulphur fuels from refineries.That means ships will have to either switch to alternative fuels, which could include marine gas oil, liquefied natural gas or biofuels, or install scrubbers to remove sulphur from exhaust gas.Tallett said not all oilsands output will suffer because of IMO 2020 — synthetic crude produced from upgraders at oilsands mining operations is considered a light oil and, as such, would still attract prices similar to WTI.Suncor CEO Steve Williams said in a conference call last month that he thinks the company will come out ahead.“We think net-net we will actually gain by the IMO 2020 and that’s to do with the diesel yields off of our average barrel across the company and the fact that we think demand and prices will be relatively strong,” he said.“So, overall, the impact for Suncor is a positive one.”Suncor produced 425,000 bpd of upgraded crude oil in the first quarter, representing about 77 per cent of its overall oilsands production. It also owns refineries that can buy and process its raw bitumen for further price protection.While most observers agree that IMO 2020 negatively affects the price outlook for Canadian bitumen producers, there are differences in opinion about how much.Researchers at Calgary-based GMP FirstEnergy Capital say the impact will be reduced by factors including new pipeline startups, increased U.S. demand for Canadian bitumen to replace declining imports of sour heavy oil from Mexico and Venezuela, and an erosion in the value of the Canadian dollar, which will improve the return for Canadian oil sold in American currency.“For now, we are treating it as a small negative for prices leading into 2020.”Follow @HealingSlowly on Twitter.Companies mentioned in this article: (TSX:CVE, TSX:SU, TSX:CNQ, TSX:HSE)