By Alan Septoff
July 15, 2011
The World Gold Council keeps a set of gold statistics. Among them, how much gold every country in the word keeps in its reserve banks.
According to the WGC (actually originally sourced from the IMF), the largest holder of gold is the U.S. with 8,100 metric tons of gold. The world, collectively, holds more than 30,000 metric tons.
In other words, there is enough gold sitting in just U.S. banks to replaced the annual mined supply for 3 years. And enough in the world to replace mined gold for more than 10 years.
I wonder what the communities fighting for to protect their communities from unwanted gold mining in Rosia Montana (Romania) or the Wassa district (Ghana) or Yanachocha/Cajamarca (Peru) think of this?
By Lauren Pagel
July 14, 2011
Today, I testified before the House Natural Resources' Subcommittee on Energy and Minerals.
The hearing title: Abandoned Mined Lands: Innovative Solutions for Restoring the Environment, Improving Safety and Creating Jobs.
In this case, "restoring the environment, improving safety and creating jobs" are issues all stakeholders can agree are desirable, at least in the abstract. What counts as "innovative", however, is at issue.
We can see where some very limited exemptions from Clean Water Act liability would encourage abandoned mine cleanup. Some in industry, and their advocates in Congress, apparently want to use abandoned mine cleanup as an excuse for wholesale exemptions to environmental liability of any sort.
Our fear is that, with broader liability exemptions, major mining companies will replace one problem (an old abandoned mine) with an even bigger one (a modern open-pit mine).
By Lauren Pagel
July 11, 2011
Today, a joint subcommittee oversight hearing entitled "Challenges facing Domestic Oil and Gas Development: Review of Bureau of Land Management/U.S. Forest Service Ban on Horizontal Drilling on Federal Lands" was held in the House of Representatives. Republican members challenged a proposed draft management plan for the George Washington National Forest to ban horizontal oil and gas drilling, as well as Bureau of Land Management efforts to regulate drilling on public lands.
A recent study by the Forest Service details the serious impact that drilling can have forests including the destruction of trees and other fauna. The report concludes: "Unexpected impacts, however, were perhaps more important, and because they could not be carefully controlled or planned for, are less likely to be mitigated successfully. It is obvious that unexpected, unpredicted events will occur during such activities, and therefore land managers should consider a wide range of possible effects when analyzing impacts on natural resources."
July 8, 2011
Usually when news and reports are issued just before a holiday weekend, they escape close scrutiny and media cycles. But a glaring exception to this rule occurred last week in Albany, NY, when the Department of Environmental Conservation made public highlights of the revised draft of its recommendations on addressing the environmental impacts of hydraulic fracturing for natural gas. (Officially known as the tongue-twisting Preliminary Revised Draft Supplemental Generic Environmental Impact Statement, or SGEIS.)
Cries of surprise and dismay echoed across the state as citizens and advocates realized that the DEC had just moved one big step closer to issuing permits for high-volume, horizontal fracking. For months, citizens and advocates had hoped that the DEC would defer its July 1 deadline and take more time to tackle the many thorny issues involved. But thanks to apparent pressure from Governor Cuomo and other forces, New York became just another state among many to extend a welcoming hand to industry.
By Nick Magel
July 7, 2011
On May 16, Change.org, in support of EARTHWORKS No Dirty Gold Campaign, released a multipronged social media action against Costco. Change.org redeveloped an online petition calling for Costco to sign onto the Golden Rules principles that has since garnered over 27,000 signatures. Accompanying the morning s petition blitz was a creative bomb of Costco s Facebook page, where responsible gold mining activists changed their profile pictures in order to spell out No Dirty Gold on Costco s Facebook homepage.