Saturday, November 25, 2023

Japanese archaeologists unearth massive stash of 100,000 ancient coins
via Maebashi City Government
The oldest of a sample that has so far been analyzed was found to be over 2,000 years old

Bryan Ke
NOVEMBER 24, 2023

AN ENORMOUS TROVE of 100,000 ancient coins were recently discovered in Maebashi, a city in Gunma Prefecture, Japan, with archaeologists estimating some of them to be over 2,000 years old.

Discovery: The coins, stacked together in 1,060 bundles, were unearthed at a construction site for a new factory in the city’s Sojamachi district, according to The Asahi Shimbun. Local officials said they were found in an area measuring 60 centimeters by 1 meter, with each bundle containing about 100 coins.
The coins were subsequently featured in an exhibit. “I was surprised because I had never seen so many buried coins,” a visitor in her 70s said, as per NHK.

Analysis: At least 334 coins have been analyzed. Archaeologists identified 44 different coins from the sample.

The oldest one was believed to be a Ban Liang coin from 175 BCE. Ban Liang coins were the first minted in unified China during the Western Han Dynasty between 220 BCE to 9 CE. Meanwhile, the most recent coins were from 1265, a year within the Kamakura Period (1185 to 1333). This suggests the coins were buried during the period.

What experts are saying: Archaeologists believe the coins were buried due to a looming war. The site of discovery was reportedly close to the homes of important figures in medieval Japan.

Ethan Segal, an associate professor of history at Michigan State University, told Live Science that other coin hoards have been found across Japan. “Caches of buried coins, mostly from Japan’s medieval period — 13th through 16th centuries — have been found in many locations around the archipelago,” he said.
CRYPTO CRIMINAL CAPITALI$M
CFTC says access to US customers 'is a privilege, not a right,' in aggressive case against Binance that is only just getting started



Laila Maidan
Thu, November 23, 2023 

CFTC says case against Changpeng Zhao and Binance is the beginning of an aggressive pursuit.

Commissioner Caroline D. Pham said the CFTC has no borders when it comes to prosecuting non-US entities.

Binance and Zhao to pay $4.3 billion in fines.

The last couple of years have been tough for the crypto industry and its leading figures
.

And it's not likely there will be relief for the sector anytime soon. At least, that's what policymakers are signaling.

This week, Binance chief Changpeng Zhao joined his former industry rival Sam Bankman-Fried in making headlines for charges against him and his crypto exchange, which included breaching US anti-money-laundering laws.

On Tuesday, Zhao pleaded guilty and left his role as CEO. Binance is set to pay over $4.3 billion in fines, $50 million of which will be paid by the former CEO himself. A portion of that will go to settle claims made by the Commodity Futures Trading Commission for allowing US customers to trade unregistered crypto derivatives.

A statement made by CFTC Commissioner Christy Goldsmith Romero read: "There are no pirate ships in US markets" and that "access to US customers is a privilege, not a right."

Goldsmith added that the CFTC plans to continue its aggressive pursuit of crypto exchanges that violate trade laws.

The commissioner noted that there will be no tolerance for using VPNs, or any other actions that could circumvent KYC rules, including pop-up questions that merely ask users to attest that they aren't based in the US.

In a separate statement, CFTC Commissioner Caroline D. Pham said the CFTC's reach has no border. "It should be crystal clear that the CFTC will not stop in its pursuit of non-U.S. entities," Pham said.

The swift action comes amidst a prolonged case set against FTX-founder SBF, who pleaded not guilty and was charged with seven felony counts, including conspiracy to commit money laundering. He remains at New York's Metropolitan Detention Center awaiting his sentencing. He could face up to 110 years in prison.

Binance users pull $956 mln as Zhao steps down

Reuters Videos
Thu, November 23, 2023 

ORY: Investors pulled about $956 million from crypto exchange Binance within 24 hours, according to market data.

That was after its chief, Changpeng Zhao, pleaded guilty on Tuesday to settle a years-long U.S. illicit finance probe.

He stepped down from the company and now faces prison time - although it remains unclear how much.

Binance will pay $4.3 billion to U.S. authorities, which raises questions over the future of the world's largest crypto exchange.

The development also represents another blow for an industry beset by scandals.

Authorities said Binance failed to report more than 100,000 suspicious transactions.

This included organizations the U.S. described as terrorist groups.

Market data platform Nasden said despite the amount of money pulled, over $65 billion of assets remain on Binance.

But some analysts said the deal was unlikely to end Binance's U.S. legal woes, with charges by the Securities and Exchange Commission still unresolved.

Binance did not immediately respond to a request for comment, but said this week it had worked hard to make the exchange "safer and even more secure."



Ex-Binance CEO Zhao urges judge to allow him to leave US before sentencing

Updated Fri, November 24, 2023 

By Nate Raymond

(Reuters) - Lawyers for former Binance CEO Changpeng Zhao are urging a U.S. judge to reject the Justice Department's request to bar him from returning to his home in the United Arab Emirates until he is sentenced for violating anti-money laundering requirements.

Zhao's lawyers in a Thursday filing asked U.S. District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the U.S. while awaiting sentencing.

Zhao, a citizen of the UAE and Canada, stepped down as CEO of Binance on Tuesday after pleading guilty to willfully causing the global cryptocurrency exchange to fail to maintain an effective anti-money laundering program.

U.S. authorities said Binance broke U.S. anti-money laundering and sanctions laws and failed to report more than 100,000 suspicious transactions with organizations the U.S. described as terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria.

The company as part of a plea deal agreed to pay more than $4.3 billion. Zhao has agreed to pay a $150 million penalty to the U.S. Commodity Futures Trading Commission, and prosecutors in a Wednesday filing said he faces up to 18 months in prison.

The Justice Department has asked Jones by Monday to reverse a decision by U.S. Magistrate Judge Brian Tsuchida to allow Zhao to return home to the UAE ahead of his Feb. 23 sentencing after he agreed to release him on a $175 million bail bond.

The government said it may be unable to secure his return if he chooses not to come back to the U.S. for sentencing, given that it has no extradition treaty with the UAE and Zhao is a multi-billionaire with significant assets.

But Zhao's lawyers argued that the former CEO had demonstrated he was not a flight risk by agreeing to a "substantial" bail package and by voluntarily coming to the U.S. to accept responsibility for his actions.

Allowing Zhao to return to the UAE would allow him to take care of his partner and three children and prepare them for his sentencing, defense lawyers argued.

The Justice Department responded in a brief on Friday that its decision at Tuesday's hearing to recommend Zhao remain free before sentencing was "exceptional" and was only because it believed the risk of flight he posed could be "managed" by restricting his travel.

"In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the United States would be detained," Justice Department lawyers said.

(Reporting by Nate Raymond in Boston; Editing by Alexia Garamfalvi, Marguerita Choy and Daniel Wallis)

Analysis-Binance CEO Teng braced for uphill battle in post-Zhao era

Fri, November 24, 2023 


By Tom Wilson and Elizabeth Howcroft

LONDON (Reuters) - Spiralling compliance costs, ongoing legal headaches and a shrinking share of the market: Binance's new chief Richard Teng faces daunting challenges in turning a new leaf for the world's biggest crypto exchange.

Teng was quickly appointed CEO this week after Binance's founder Changpeng Zhao pleaded guilty to breaking U.S. anti-money laundering laws, part of a $4.3 billion deal to resolve a years-long U.S. investigation.

Now Teng must deal with years of intrusive U.S. financial monitoring, an ongoing U.S. Securities and Exchange Commission (SEC) lawsuit and the potential loss of its dominance of the crypto sector, analysts, investors and former regulators said.

Teng faces an especially tough task in transforming the culture of Binance, four of the people said. U.S. Treasury Secretary Janet Yellen said on Tuesday that Binance "turned a blind eye to its legal obligations in the pursuit of profit" as it "allowed money to flow to terrorists, cybercriminals, and child abusers."

Teng, who before working for Binance was a financial regulator, said on social media that he would focus on reassuring users of Binance's "financial strength, security and safety" and collaborate with regulators "to uphold high standards globally."

"Teng is seen as steady hands," said Carol Alexander, professor of finance at the University of Sussex, who has tracked Binance for years. Still, leading a cultural shift at Binance - a firm shaped by Zhao in his own image - would be "hugely difficult," she said. Investors pulled almost $1 billion from Binance in the 24 hours after Zhao's demise, among its biggest daily outflows of the last year. The reaction is a sign of the challenges ahead for Teng, who previously ran Binance's regional markets.

While the U.S. settlement bars Zhao from future involvement in operating or managing Binance, he is still a major shareholder. Yi He, Binance's co-founder and the mother of Zhao's children, remains a top executive at the company. "New page," she posted on Tuesday.

Contacted by Reuters with a summary of this article, Binance did not make Teng available for an interview.

Binance spokesperson Simon Matthews told Reuters that Binance had lacked "compliance controls adequate for the company that it was quickly becoming" and made "misguided decisions" as it grew quickly.

"Richard was hired two years ago to help Binance mature and move past these historical issues," Matthews said, adding that Binance had "worked hard to restructure our organization and personnel and upgrade our systems." The firm has "new leadership" in place with experience in compliance, law enforcement and major corporations, he added.

Zhao's lawyers did not respond to a request for comment.

MONITORSHIP

As part of the resolution, the U.S. authorities will subject Binance to five years of "financial monitorship" overseen by the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN).

FinCEN will keep access to Binance's books, records and systems, "oversee remedial undertakings" needed to address Binance's non-compliance with anti-money laundering and sanctions rules, the Treasury said on Tuesday.

Such steps are unusual, challenging and costly, even for mainstream financial companies with deep experience of dealing with regulators, said lawyers and former regulators.

"It's a real millstone - everything you are doing is subject to scrutiny," said John Reed Stark, a former chief of the SEC's Office of Internet Enforcement.

While the exchange has said it has ramped up compliance spending, Zhao for years sought to shield it from regulators, Reuters reported in a series of articles in 2022.

Still, Binance should be able to cover both additional compliance costs and the U.S. fines, investors have said.

"The fundamentals of our business are VERY strong," Teng posted on social media on Wednesday. "Our capital structure is debt-free, expenses are modest, and, despite the low fees we charge our users, we have robust revenues and profits."

HIRED BY ZHAO

Hired by Zhao as Binance's Singapore chief in 2021, Teng has been CEO of Abu Dhabi Global Market from 2015 to 2021. His previous roles included chief regulatory officer at Singapore Exchange (SGX).

He was promoted to head Binance's regional markets in May and was widely seen as a potential successor to Zhao.

His rise to the top job is for Binance "an opportunity to move past mounting enforcement actions and chart a path towards stability and a fresh beginning," said Rajeev Bamra, head of digital assets strategy at Moody's Investors Service.

Complicating prospects for a clean slate, however, are outstanding legal headaches.

Binance is facing an SEC lawsuit for allegedly operating a "web of deception," including artificially inflating its trading volumes and diverting customer funds. Binance has denied the allegations.

It is also under investigation in France for alleged aggravated money-laundering.

On the business front, too, Binance is under pressure.

For years it dominated the crypto market, but this year has rapidly lost market share. Last month it controlled 32% of crypto spot and 50% of derivatives trading, according to crypto firm CCData, down from 55% and 62% respectively in January.

Fuelling the decline has been an end to Binance's zero-fees transaction promotions, as well as its regulatory problems, analysts said.

Other exchanges, such as Seychelles-registered OKX, have gained market share this year, according to CCData. OKX is the second-largest exchange after Binance by market share.

In the longer term, the exchange may lose further market share because of reduced marketing and business development budgets following the U.S. fines, said Joseph Edwards, head of research at London crypto firm Enigma Securities.

"But that's talking quite far down the line - they are a very strong incumbent overall."

(Reporting by Tom Wilson and Elizabeth Howcroft; editing by Elisa Martinuzzi and Louise Heavens)

Binance to pay $4.3 billion in fines for money laundering violations

Ryan General
Thu, November 23, 2023



[Source]

Binance is set to pay an unprecedented $4.3 billion in fines and restitution after pleading guilty to money laundering violations, federal authorities announced.

Settlement details: The settlement involves agreements with the Justice Department, the Treasury Department and the Commodity Futures Trading Commission (C.F.T.C.), which all started their investigation on Binance years ago, according to The New York Times.

As part of the deal, Binance will pay $1.81 billion within 15 months and a further $2.51 billion forfeiture. Founder Changpeng Zhao, who also pleaded guilty, has agreed to a $50 million fine and to step down as CEO.


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Evading laws: According to court documents, Zhao and senior Binance employees were involved in a wide-ranging scheme to avoid complying with regulations requiring financial institutions. This includes evading laws on identifying customers' true identities, refraining from doing business with criminals and registering U.S.-based businesses with regulators. It was revealed that customers from sanctioned countries — including Cuba, Iran and Syria — were able to access the Binance platform.

Failure to institute proper controls: Treasury officials highlighted Binance's failure to report suspicious transactions involving terrorist groups such as Hamas, Al Qaeda and ISIS, reported Reuters. The court filings also revealed that Binance conducted business with U.S.-based firms, violating anti-money laundering laws that required a separate platform, Binance.US, to handle such transactions.

Zhao’s future: Zhao's bail was set at $175 million, secured by $15 million in cash. Despite stepping down as Binance's CEO, he will retain a presence as a major stakeholder. However, his future remains uncertain, with his sentencing set for Feb. 23, 2024. While he faces up to 18 months in prison, prosecutors are moving for a stiffer penalty.

Trending on NextShark: Hong Kong announces mandatory course on ‘patriotism' for primary students

Regulatory scrutiny: Regulatory actions against Binance began earlier this year, with the C.F.T.C. filing a civil suit in March, followed by the S.E.C. charging Binance and Zhao with mishandling customer funds and providing false information to regulators. The S.E.C. is not a party to the recent settlement.

The penalty imposed on Binance is one of the largest ever by the U.S. government against a financial firm. The plea deal appears to give Binance the opportunity to continue its operations under the oversight of a government monitor.

Canada oil and gas firms to drill 8% more wells next year as emissions target slips
Leyland Cecco in Toronto
GUARDIAN 
Fri, November 24, 2023 

Photograph: Jennifer Gauthier/Reuters


Oil and gas producers say they will drill 8% more wells in Canada next year as they look to take advantage of new shipping options, including a controversial government-owned pipeline.

Amid forecasts that Canada is not on target to reach its emissions reductions goals, on Friday the Canadian Association of Energy Contractors (CAOEC) predicted nearly 500 more wells next year, to 6,229 projects.

Related: Canada invokes treaty with US in push to keep cross-border pipeline open

The news comes as Canada, the world’s fourth-largest oil producer, weighs a possible emissions cap on the country’s oil and gas sector. The environment minister, Steven Guilbeault, has said his government hopes to draft a proposal before the Cop28 climate conference, which begins in Dubai next week. The fossil fuel industry argues the proposed caps are too restrictive.

Despite its ambitious climate commitments, Canada is expected to miss its goal of cutting carbon emissions by at least 40% below 2005 levels by 2030, in part because of emissions from the oil and gas sector. A recent audit found the only significant emissions reductions came during the 2008 financial crisis and the Covid-19 pandemic.

“Canada is the only G7 country that has not achieved any emissions reductions since 1990,” Jerry DeMarco, commissioner of the environment and sustainable development, told reporters earlier this month.

CAOEC said one of the catalysts for the new drilling projects was the imminent opening of new pipelines, including the delayed Trans Mountain expansion project.

The federal government bought the embattled TransMountain project from Kinder Morgan in 2018 for C$4.5bn (US$3.3bn), with the prime minister arguing Canada needed to alleviate a crude-oil transportation bottleneck that costs Canadian oil producers billions annually in forgone export revenue. He also pledged to use dividends from the pipeline to invest in green energy projects.

In the years since, however, the Canadian government has plowed more than C$35bn into the project, which has become an infrastructure boondoggle marred by cost overruns and delays.

“We know there is zero room to expand oil and gas extraction and meet climate targets,” said Conor Curtis of the Sierra Club Canada Foundation. “If the same effort that has been put into Trans Mountain were instead redirected to renewables, Canadians would be much better off.

“No matter which side of the debate on further oil and gas expansion they fall into, a large majority of Canadians now want to see a strong regulation of emissions from our oil and gas sector that matches Canada’s national emissions reduction targets.”

Scientists Say These Villains Are Causing Way More Than Their Share of Climate Change

Sharon Adarlo
Thu, November 23, 2023

Big Carbon

As some climatologists fret over the morality of flying on an airplane, the richest among us haven't curbed their lifestyle due to any climate change concerns — and are actually spending far more on luxuries than usual lately.

Putting this in particularly stark climate terms, new study from Oxfam confirms that the richest 1 percent of the world had the same carbon footprint in 2019 as the poorest 66 percent, or the equivalent of 5 billion people.

For perspective, 59.4 million people in the world have a net worth of over $1 million, but the top 1 percent are worth over $11 million — a minuscule proportion of the ultra-elite that’s responsible for an obscene amount of the planet’s impending global warming doom.

"This report from Oxfam makes it glaringly clear: these are not separate issues," said climate activist Greta Thunberg in the foreword of the Oxfam study. "Climate breakdown and inequality are linked together and fuel each other. If we are to overcome one, we must overcome both."




Yeet the Rich

The study, jointly conducted with the Stockholm Environment Institute, also found that the 1 percent are responsible for so many emissions that any carbon savings from off-shore wind turbines is moot, among other sobering facts.

What’s glaring in the data and testimony in the report is that while the rich are responsible for an outsize share of carbon emissions, it’s the poorest who will suffer most from the detrimental impact of climate change. For example, global warming will impact the availability of food and potable water — whose scarcity will hurt the poor, while the rich can just pay extra for those necessities.

To change this dynamic, the Oxfam report calls for a tax on wealthy individuals and corporations, with proceeds going towards the Global South that would fund an energy transition and help ameliorate adverse effects of climate change on the poor.

The study says that a 60 percent income tax on the 1 percent would able to reduce emissions at more than the total carbon emissions of the United Kingdom and generate an annual figure of $6.4 trillion for a robust energy transition away from fossil fuels.

Would a climate tax on the wealthy have a snowball’s chance in hell of happening? With stories of rich people trying to hide their wealth in off-shore accounts, most likely not. But perhaps this sobering report would make them think twice about flying off to Majorca in a private jet.

More on climate change: Exxon is Trying to Find the Guy Who Did Climate Change



US coal power plants killed at least 460,000 people in past 20 years – report

Nina Lakhani climate justice reporter
Thu, November 23, 2023 

Photograph: Scott Olson/Getty Images

Coal-fired power plants killed at least 460,000 Americans during the past two decades, causing twice as many premature deaths as previously thought, new research has found.

Cars, factories, fire smoke and electricity plants emit tiny toxic air pollutants known as fine particulate matter or PM2.5, which elevate the risk of an array of life-shortening medical conditions including asthma, heart disease, low birth weight and some cancers.

Researchers analyzed Medicare and emissions data from 1999 and 2020, and for the first time found that coal PM2.5 is twice as deadly as fine particle pollutants from other sources. Previous studies quantifying the death toll from air pollution assumed all PM2.5 sources posed the same risk, and therefore probably underestimated the dangers of coal plants.

Related: ‘Insanity’: petrostates planning huge expansion of fossil fuels, says UN report

Government regulations save lives, according to the research, which is published in Science, as most deaths happened when environmental standards were weakest and PM2.5 levels from coal-fired power stations highest.

“Air pollution from coal is much more harmful than we thought, and we’ve been treating it like it’s just another air pollutant,” said the lead author, Lucas Henneman, an assistant professor in the Sid and Reva Dewberry department of civil, environmental and infrastructure engineering at George Mason University. “This type of evidence is important to policymakers like EPA [the US Environmental Protection Agency] as they identify cost-effective solutions for cleaning up the country’s air, like requiring emissions controls or encouraging renewables.”

Henneman led a group of researchers who used publicly available data to track air pollution – and its health effects – from the 480 US coal power plants that operated at some point between 1999 and 2020. A model was used to track the wind direction and reach of the toxins from each power station. Annual exposure levels were then connected with more than 650m Medicare health records that covered most people over age 65 in the US.

The coal plants associated with most deaths were located east of the Mississippi River in industrialized states like Ohio and Pennsylvania, where power stations were historically constructed close to population hubs. But every region had at least one plant linked to 600 deaths, while 10 were associated with more than 5,000 deaths across the study period.






About 85% of the total 460,000 coal plant-related deaths occurred between 1999 and 2007, an average of more than 43,000 deaths per year. The death toll declined drastically as plants closed or scrubbers – a type of sulphur filter – were installed to comply with new environmental rules. By 2020, the coal PM2.5 death toll had dropped 95%, to 1,600 people.

“By linking records of where Medicare beneficiaries lived and when they died, we found that risks due to PM2.5 from coal were more than double the risks related to PM2.5 from all sources,” said co-author Francesca Dominici, a professor of biostatistics, population and data science at the Harvard TC Chan school of public health.

Coal use has declined in the US, but there are still more than 200 coal-fired power plants, accounting for 20% of electricity generation in 2022, according to the US Energy Information Administration (EIA). Indiana, Kentucky and Texas have the most operational coal plants, followed by Illinois, Missouri and Pennsylvania.

Globally, coal-generated power is still rising, with South Africa, China, India and Poland among the countries most dependent on the dirtiest of fossil fuels.

“As countries debate their energy sources – and as coal maintains a powerful, almost mythical status in American energy lore – our findings are highly valuable to policymakers and regulators as they weigh the need for cheap energy with the significant environmental and health costs,” said Dominici.






















Mortality burden of air pollution from coal-burning power plants has been underestimated


Peer-Reviewed Publication

AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE (AAAS)




Between 1999 and 2020, more than 460,000 deaths in the United States were attributable to exposure to air pollution emissions from coal-burning power plants, according to the longest-term national study of its kind. While the findings highlight the increased mortality risks from coal electricity generation, they also underscore the effectiveness of emission-reduction policies in preventing excess death. Exposure to air pollution is associated with poor health and an increased risk of death. Coal-burning electricity-generating units (EGUs), also known as power plants, are a major contributor to poor air quality. Although coal EGU air pollution emissions have declined in the U.S. in recent decades, global coal use for electricity generation is projected to increase. Recent studies have suggested that exposure to fine particulate matter (PM2.5) containing sulfur dioxide (SO2) from coal-burning emissions is more deadly than PM2.5 from other sources. Policymakers seeking to limit the impact of coal use justify regulations by quantifying the health burden attributable to exposure to these sources. However, measuring the magnitude of the impact of coal EGU-derived air pollution on human health, as well as the success of measures to mitigate such impacts, is challenging. Efforts have been hampered by the limited availability of large-scale health databases and source-specific exposure estimates.

 

To better estimate U.S. deaths attributable to exposure to PM2.5 emitted from coal-burning power plants, and how related mortality patterns have changed over time, Lucas Henneman and colleagues combined a reduced complexity atmospheric transport model, which they used to estimate emissions from 480 individual coal EGUs, with historical individual-level US Medicare death records encompassing more than 650 million person-years. They found that exposure to coal-derived PM2.5 was associated with 2.1 times greater mortality risk than exposure to PM2.5 from all other sources. And, coal-derived PM2.5 was responsible for 460,000 cumulative deaths among those over 65 years of age over the past two decades, accounting for ~25% of the total deaths attributable to PM2.5. According to the findings, the mortality burden of coal PM2.5 has been underestimated. Critically, Henneman et al. also show that the rapid decline of sulfur dioxide (SO2) emissions from coal power plants over the last 20 years – through emissions reduction regulations and coal EGU closures – has led to a large reduction in excess deaths. In a related Perspective, Robert Mendelsohn and Seung Min Kim discuss the study and its limitations in greater detail. Note: The authors have provided an interactive online tool that illustrates how deaths attributed to each individual U.S. coal EGU have changed over time.




Pollution from coal power plants contributes to far more deaths than scientists realized, study show

Lucas Henneman, George Mason University
Thu, November 23, 2023 

Kids jump on a trampoline as steam rises from a coal power plant in Adamsville, Ala., in 2021. Andrew Caballero-Reynolds/AFP via Getty Images


Air pollution particles from coal-fired power plants are more harmful to human health than many experts realized, and it’s more than twice as likely to contribute to premature deaths as air pollution particles from other sources, new research demonstrates.

In the study, published in the journal Science, colleagues and I mapped how U.S. coal power plant emissions traveled through the atmosphere, then linked each power plant’s emissions with death records of Americans over 65 years old on Medicare.

Our results suggest that air pollutants released from coal power plants were associated with nearly half a million premature deaths of elderly Americans from 1999 to 2020.

It’s a staggering number, but the study also has good news: Annual deaths associated with U.S. coal power plants have fallen sharply since the mid-2000s as federal regulations compelled operators to install emissions scrubbers and many utilities shut down coal plants entirely.

In 1999, 55,000 deaths were attributable to coal air pollution in the U.S., according to our findings. By 2020, that number had fallen to 1,600.

How PM2.5 levels from coal power plants in the U.S. have declined since 1999 as more plants installed pollution-control devices or shut down. Lucas Henneman.

In the U.S., coal is being displaced by natural gas and renewable energy for generating electricity. Globally, however, coal use is projected to increase in coming years. That makes our results all the more urgent for global decision-makers to understand as they develop future policies.
Coal air pollution: What makes it so bad?

A landmark study in the 1990s, known as the Harvard Six Cities Study, linked tiny airborne particles called PM2.5 to increased risk of early death. Other studies have since linked PM2.5 to lung and heart disease, cancer, dementia and other diseases.

Following that research, the Environmental Protection Agency began regulating PM2.5 concentrations in 1997 and has lowered the acceptable limit over time.

PM2.5 – particles small enough to be inhaled deep into our lungs – comes from several different sources, including gasoline combustion in vehicles and smoke from wood fires and power plants. It is made up of many different chemicals.

Coal is also a mix of many chemicals – carbon, hydrogen, sulfur, even metals. When coal is burned, all of these chemicals are emitted to the atmosphere either as gases or particles. Once there, they are transported by the wind and interact with other chemicals already in the atmosphere.

As a result, anyone downwind of a coal plant may be breathing a complex cocktail of chemicals, each with its own potential effects on human health.


Two months of emissions from Plant Bowen, a coal-fired power station near Atlanta, show how wind influences the spread of air pollution. Lucas Henneman.
Tracking coal PM2.5

To understand the risks coal emissions pose to human health, we tracked how sulfur dioxide emissions from each of the 480 largest U.S. coal power plants operating at any point since 1999 traveled with the wind and turned into tiny particles – coal PM2.5. We used sulfur dioxide because of its known health effects and drastic decreases in emissions over the study period.

We then used a statistical model to link coal PM2.5 exposure to Medicare records of nearly 70 million people from 1999 to 2020. This model allowed us to calculate the number of deaths associated with coal PM2.5.

In our statistical model, we controlled for other pollution sources and accounted for many other known risk factors, like smoking status, local meteorology and income level. We tested multiple statistical approaches that all yielded consistent results. We compared the results of our statistical model with previous results testing the health impacts of PM2.5 from other sources and found that PM2.5 from coal is twice as harmful as PM2.5 from all other sources.

Residents living near the Cheswick coal-fired power plant in Springdale, Pa., publicly complained about the amount of sulfur dioxide, nitrogen oxide and coal particles from the plant for years. Robert Nickelsberg/Getty Images

The number of deaths associated with individual power plants depended on multiple factors – how much the plant emits, which way the wind blows and how many people breathe in the pollution. Unfortunately, U.S. utilities located many of their plants upwind of major population centers on the East Coast. This siting amplified these plants’ impacts.

In an interactive online tool, users can look up our estimates of annual deaths associated with each U.S. power plant and also see how those numbers have fallen over time at most U.S. coal plants.

A US success story and the global future of coal

Engineers have been designing effective scrubbers and other pollution-control devices that can reduce pollution from coal-fired power plants for several years. And the EPA has rules specifically to encourage utilities that used coal to install them, and most facilities that did not install scrubbers have shut down.

The results have been dramatic: Sulfur dioxide emissions decreased about 90% in facilities that reported installing scrubbers. Nationwide, sulfur dioxide emissions decreased 95% since 1999. According to our tally, deaths attributable to each facility that installed a scrubber or shut down decreased drastically.

As advances in fracking techniques reduced the cost of natural gas, and regulations made running coal plants more expensive, utilities began replacing coal with natural gas plants and renewable energy. The shift to natural gas – a cleaner-burning fossil fuel than coal but still a greenhouse gas contributing to climate change – led to even further air pollution reductions.

Today, coal contributes about 27% of electricity in the U.S., down from 56% in 1999.

Globally, however, the outlook for coal is mixed. While the U.S. and other nations are headed toward a future with substantially less coal, the International Energy Agency expects global coal use to increase through at least 2025.

Our study and others like it make clear that increases in coal use will harm human health and the climate. Making full use of emissions controls and a turn toward renewables are surefire ways to reduce coal’s negative impacts.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and analysis to help you make sense of our complex world.

It was written by: Lucas Henneman, George Mason University.


Read more:


3 reasons US coal power is disappearing – and a Supreme Court ruling won’t save it


How poisonous mercury gets from coal-fired power plants into the fish you eat


Soot pollution from coal-fired power plants is more deadly than soot from other sources, study shows

Michael Hawthorne, Chicago Tribune
Thu, November 23, 2023 


Brian Cassella/Chicago Tribune/TNS


Burning coal to generate electricity is on the way out in the United States, but the nation’s long dependence on the fossil fuel took a devastating toll.

A new study determined for the first time that soot pollution from coal-fired power plants is more dangerous than soot from other sources. During the past two decades, the researchers found, coal plant soot contributed to the deaths of at least 460,000 Americans, including 25% of all deaths among Medicare recipients before 2009.

Only Pennsylvania, New York and Ohio recorded more deaths associated with coal plant pollution than the 25,000 deaths in Illinois during the period studied.

An interactive map accompanying the study, published Thursday in the journal Science, reveals glimmers of hope amid the grim statistics.

Deaths attributed to coal plant soot have declined dramatically in recent years as utilities closed scores of their dirtiest plants and cleaned up others — changes prompted by more stringent federal clean air regulations, competition from less expensive gas-fired power plants and legal pressure from environmental groups.

“The fact that they estimated more than 40,000 deaths a year two decades ago and the number is now down to 1,600 a year is a pretty remarkable success story,” said Jonathan Levy, chair of the Department of Environmental Health at Boston University, who wasn’t involved in the study.

Soot, also known as particulate matter, is a byproduct of incomplete combustion and can be formed by chemical reactions between sulfur dioxide emitted by fossil fuel power plants and other compounds in the atmosphere. The type of soot that most concerns public health researchers — PM 2.5 — is so tiny that thousands of the fine particles could fit on the period at the end of this sentence.

Breathing even small amounts can inflame the lungs and trigger asthma attacks. Previous studies have linked soot exposure with heart attacks and premature death.

The latest study comes as President Joe Biden’s administration is moving to tighten a national limit on soot pollution, which in turn could force new regulations on power plants and other industrial sources.

Utilities fiercely opposed clean air laws for decades. But in one of a series of stark departures from previous debates about anti-pollution rules, the chief trade group for investor-owned utilities appears to be more concerned about how the Biden proposal would be implemented rather than opposing it outright.

“The electric industry has significantly reduced air pollutants such as (sulfur dioxide), (nitrogen oxide), and hazardous air pollutants such as mercury,” Sarah Durdaller, a spokeswoman for the Edison Electric Institute, said in an email. “Additional emissions reductions are expected as the industry continues its clean energy transition.”

A Chicago Tribune review of the new study’s interactive map shows why former President Donald Trump’s attempts to gut the U.S. Environmental Protection Agency, roll back clean air laws and leave regulatory decisions to the states could have made it difficult to continue reducing deaths from coal plant pollution.

For instance, Illinois coal plants were responsible for more deaths associated with soot-related deaths in Wisconsin and Iowa than coal plants in the two other states, the researchers found.



At the same time, the study shows, several Wisconsin coal plants were responsible for more Illinois deaths than those in Wisconsin.

While researchers linked most of the Illinois deaths to coal plants within the state, others as far away as North Carolina, North Dakota and Texas contributed.

“Pollution doesn’t respect state boundaries,” said the study’s lead author, Lucas Henneman, a professor of environmental engineering at George Mason University.

The EPA found similar dynamics at work earlier this year when it took a new look at smog, another type of air pollution.

Chicago and the rest of Cook County are the nation’s worst neighbors when it comes to smog, the EPA concluded in research supporting its proposed “good neighbor rule” pending before the U.S. Supreme Court.

Henneman and his colleagues based their analysis on emissions data reported to the EPA and a massive database of Medicare enrollees. They used well-tested computer models to track how emissions from individual coal plants contributed to soot-related deaths in every state.

In an editorial published in the same issue of Science, researchers at Yale and Columbia said Henneman’s study showed that reducing coal plant pollution has been more beneficial than previously thought.

Though PM 2.5 can’t be seen with the naked eye, the spread of smoke from Canadian wildfires during the summer provided a vivid example of how soot pollution can make the air so dirty that even healthy people have trouble breathing, said Francesca Dominici, a Harvard biostatistics professor who contributed to the study and previously linked soot exposure to COVID-19 deaths.

Bruce Nilles, former director of the Sierra Club’s Beyond Coal campaign, said the declining number of deaths associated with coal plant pollution is a result of a long battle that led utilities to close or announce the retirement of 374 power plants that burned the fossil fuel.

About a fifth of the nation’s electric generation now comes from coal plants, down from more than half a decade ago.

All but two coal plants in Illinois are expected to be closed by the end of the decade. Eight that already have closed in and near Chicago were responsible for 5,660 soot-related deaths between 1999 and 2020, the new study found.

“We’ve come a long way,” Nilles said. “But this study shows there are still some big problems out there, and that means we need the EPA to step in and ensure everyone is protected.”

Particulate pollution from coal associated with double the risk of mortality than PM2.5 from other sources


Peer-Reviewed Publication

HARVARD T.H. CHAN SCHOOL OF PUBLIC HEALTH





Key points:

  • In an examination of emissions data and Medicare records, researchers calculated that exposure to fine particulate air pollutants emitted by coal-fired power plants (coal PM2.5) is associated with a mortality risk 2.1 times greater than that of PM2.5 from other sources.
  • Between 1999 and 2020, 460,000 deaths among Medicare enrollees were attributable to coal-fired power plants; 10 of these plants each contributed at least 5,000 deaths.
  • The vast majority of deaths took place between 1999 and 2007, and by 2020 deaths from coal-fired power plants decreased substantially—pointing to the efficacy of regulations on coal PM2.5, researchers say.

Exposure to fine particulate air pollutants from coal-fired power plants (coal PM2.5) is associated with a risk of mortality more than double that of exposure to PM2.5 from other sources, according to a new study led by George Mason University, The University of Texas at Austin, and Harvard T.H. Chan School of Public Health. Examining Medicare and emissions data in the U.S. from 1999 to 2020, the researchers also found that 460,000 deaths were attributable to coal PM2.5 during the study period—most of them occurring between 1999 and 2007, when coal PM2.5 levels were highest.

The study will be published on November 23, 2023, in Science.

While previous studies have quantified the mortality burden from coal-fired power plants, much of this research has assumed that coal PM2.5 has the same toxicity as PM2.5 from other sources.

“PM2.5 from coal has been treated as if it’s just another air pollutant. But it’s much more harmful than we thought, and its mortality burden has been seriously underestimated,” said lead author Lucas Henneman, assistant professor in the Sid and Reva Dewberry Department of Civil, Environmental, and Infrastructure Engineering at Mason. “These findings can help policymakers and regulators identify cost-effective solutions for cleaning up the country’s air, for example, by requiring emissions controls or encouraging utilities to use other energy sources, like renewables.” 

Using emissions data from 480 coal power plants in the U.S. between 1999 and 2020, the researchers modeled where wind carried coal sulfur dioxide throughout the week after it was emitted and how atmospheric processes converted the sulfur dioxide into PM2.5. This model produced annual coal PM2.5 exposure fields for each power plant. They then examined individual-level Medicare records from 1999 to 2016, representing the health statuses of Americans ages 65 and older and representing a total of more than 650 million person-years. By linking the exposure fields to the Medicare records, inclusive of where enrollees lived and when they died, the researchers were able to understand individuals’ exposure to coal PM2.5 and calculate the impact it had on their health.

They found that across the U.S. in 1999, the average level of coal PM2.5 was 2.34 micrograms per cubic meter of air (μg/m3). This level decreased significantly by 2020, to 0.07 μg/m3. The researchers calculated that a one μg/m3 increase in annual average coal PM2.5 was associated with a 1.12% increase in all-cause mortality, a risk 2.1 times greater than that of PM2.5 from any other source. They also found that 460,000 deaths were attributable to coal PM2.5, representing 25% of all PM2.5-related deaths among Medicare enrollees before 2009.

The researchers were also able to quantify deaths attributable to specific power plants, producing a ranking of the coal-fired power plants studied based on their contribution to coal PM2.5’s mortality burden. They found that 10 of these plants each contributed at least 5,000 deaths during the study period. They visualized the deaths from each power plant in a publicly available online tool (https://cpieatgt.github.io/cpie/).

The study also found that 390,000 of the 460,000 deaths attributable to coal-fired power plants took place between 1999 and 2007, averaging more than 43,000 deaths per year.  After 2007, these deaths declined drastically, to an annual total of 1,600 by 2020.

“Beyond showing just how harmful coal pollution has been, we also show good news: Deaths from coal were highest in 1999 but by 2020 decreased by about 95%, as coal plants have installed scrubbers or shut down,” Henneman said.

“I see this as a success story,” added senior author Corwin Zigler, associate professor in the Department of Statistics and Data Sciences at UT Austin and founding member of the UT Center for Health & Environment: Education & Research. “Coal power plants were this major burden that U.S. policies have already significantly reduced. But we haven’t completely eliminated the burden—so this study provides us a better understanding of how health will continue to improve and lives will be saved if we move further toward a clean energy future.”

The researchers pointed out the study’s continuing urgency and relevance, writing in the paper that coal power is still part of some U.S. states’ energy portfolios and that global coal use for electricity generation is even projected to increase.

“As countries debate their energy sources—and as coal maintains a powerful, almost mythical status in American energy lore—our findings are highly valuable to policymakers and regulators as they weigh the need for cheap energy with the significant environmental and health costs,” said co-author Francesca Dominici, Clarence James Gamble Professor of Biostatistics, Population, and Data Science at Harvard Chan School and director of the Harvard Data Science Initiative.

Funding for the study came from the National Institutes of Health (grants R01ES026217, R01MD012769, R01ES028033, 1R01ES030616, 1R01AG066793, 1R01MD016054-01A1, 1R01ES 034373-01, 1RF1AG080948, and 1R01ES029950); the Environmental Protection Agency (grant 835872); the EmPOWER Air Data Challenge (grant LRFH); the Alfred P. Sloan Foundation (grant G-2020-13946); and the Health Effects Institute (grants R-82811201 and 4953).


“Mortality risk from United States coal electricity generation,” Lucas Henneman, Christine Choirat, Irene Dedoussi, Francesca Dominici, Jessica Roberts, Corwin Zigler, Science, online November 23, 2023, doi: 10.1126/science.adf4915.

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Harvard T.H. Chan School of Public Health brings together dedicated experts from many disciplines to educate new generations of global health leaders and produce powerful ideas that improve the lives and health of people everywhere. As a community of leading scientists, educators, and students, we work together to take innovative ideas from the laboratory to people’s lives—not only making scientific breakthroughs, but also working to change individual behaviors, public policies, and health care practices. Each year, more than 400 faculty members at Harvard Chan School teach 1,000-plus full-time students from around the world and train thousands more through online and executive education courses. Founded in 1913 as the Harvard-MIT School of Health Officers, the School is recognized as America’s oldest professional training program in public health.

George Mason University is Virginia’s largest public research university. Located near Washington, D.C., Mason enrolled over 40,000 students from 130 countries and all 50 states for the fall 2023 semester. Mason has grown rapidly over the last half-century and is recognized for its innovation and entrepreneurship, remarkable diversity, and commitment to accessibility. Also in 2023, the university launched Mason Now: Power the Possible, a $1 billion comprehensive campaign to support student success, research, innovation, community, and sustainability. Learn more at gmu.edu.

The University of Texas at Austin is a bold, ambitious leader supporting some 52,000 diverse students, 3,000 teaching faculty, and top national programs across 19 colleges and schools. As Texas’ leading research university, UT attracts more than $650 million annually for discovery. Amid the backdrop of Austin, Texas, a city recognized for its creative and entrepreneurial spirit, the university provides a place to explore countless opportunities for tomorrow’s artists, scientists, athletes, doctors, entrepreneurs and engineers.






A mining billionaire who called Elon Musk a 'muppet' hints the Tesla chief is anti-hydrogen because he's bet big on batteries

Theron Mohamed
Thu, November 23, 2023 

Elon Musk is CEO of Tesla.Hannibal Hanschke/Getty Images

A mining billionaire who called Elon Musk a "muppet" revisited their dispute this week.


Andrew Forrest hinted Musk is anti-hydrogen as the Tesla chief has bet big on electric batteries.


Both are heavily invested in batteries, but Forrest said EVs won't solve climate change.


An Australian mining billionaire called Elon Musk a "muppet" earlier this year for dismissing hydrogen as a clean fuel. This week he suggested the Tesla chief is anti-hydrogen because he's bet on electric batteries.

Andrew "Twiggy" Forrest, the CEO of Fortescue Metals, was asked by a shareholder at the company's annual meeting on Tuesday about the times he "crossed swords" with the Tesla chief.

"You've touched a really, really raw nerve here," Forrest replied. Fortescue is a major designer of batteries and spends heavily on them, but he doesn't think they're a solution to climate change.

"The miracle marriage is, as you point out, hydrogen with the battery or fuel cell," he continued.

Forrest emphasized that he wasn't just touting hydrogen over electric batteries for his company's benefit, and hinted Musk might be doing the opposite for Tesla's sake.

"Like Musk, I'm heavily invested in batteries," he said. "It's just that, unlike Musk, it's not my own investment."

Andrew Forrest is CEO of Fortescue Minerals.Thomson Reuters

Musk has panned hydrogen as a practical fuel source for vehicles many times. Its low density means it would require a highly pressurized "gigantic fuel tank," making it a "big pain in the ass," he said on a Tesla earnings call in January 2021.

The SpaceX CEO and X owner has also blasted hydrogen as the "most dumb thing I could possibly imagine for energy storage" and "mind-bogglingly stupid," and branded fuel cells as "fool cells."

Forrest – who's 57th on the Bloomberg Billionaires Index and worth almost $26 billion – has pushed back against Musk's comments. "Anyone, including Elon ... who says hydrogen hasn't got a massive future are muppets," he told a Bloomberg conference in June.

"He should get out and ask himself, 'am I really a climate avenger, or just a businessman?' If he knocks hydrogen then we know he's just in it for a buck," Forrest told The Australian last fall.

Investors have cheered Musk's embrace of electric batteries, sending Tesla up nearly eight-fold since the start of 2020. The EV maker's value has soared from below $100 billion to north of $700 billion in that period.

Fortescue shares have about doubled over the same period, leaving the company worth more than $50 billion.