The Atmosphere, the Ocean and Environmental Change (GG 140)
The various types of resources currently used for energy production are discussed. Energy is primarily used for heating, transportation, and generating electricity. Coal is burned largely to produce electricity and is a major contributor to air pollution with coal power plants emitting carbon dioxides and nitrous oxides. Another major resource used for energy is oil. It is projected that each country either has reached or will reach a peak oil use, after which oil use will decrease. Natural gas is now being obtained from shale using the extraction technique of fracting which is a recent discovery. Nuclear power gained popularity worldwide through the 1970s, however very few new power plants have been built in the last three decades following the Three Mile Island and Chernobyl episodes. Hydroelectric power is generated by forcing water flowing from high terrain through a turbine to produce electricity. There are many hydroelectric dams operating globally.
00:00 - Chapter 1. Energy
17:46 - Chapter 2. Coal
26:32 - Chapter 3. Oil
30:46 - Chapter 4. Natural Gas
32:59 - Chapter 5. Nuclear Power
38:32 - Chapter 6. Hydroelectric Power
45:46 - Chapter 7. Three State Comparison of Energy Production
Complete course materials are available at the Open Yale Courses website: http://oyc.yale.edu
This course was recorded in Fall 2011.
Although foreigners may now invest in A-shares, there is a monthly 20 percent limit on repatriation of funds to foreign countries.
Performance of A-shares.
Since its inception in 1990, including a major reform in 2002, the index has seen great fluctuations. Overall, however, it has grown along with the Chinese economy. The years 2015 to 2016 were a particularly difficult period, with a 52-week performance of -21.55 percent as of July 20, 2016.
As China grows from an emerging market to an advanced economy, there is substantial demand for Chinese equity. Stock exchange regulators continue efforts to make A-shares more broadly available to foreign investors and have them recognized by the global investing community.
In June 2017, the MSCI Emerging Markets Index announced a long-awaited decision it would add stocks to its index. According to CNBC, MSCI will add 222 China A Large Cap stocks to its benchmark emerging markets index gradually beginning in 2018. The MSCI website reveals the stocks it will list include the Bank of China, China Merchants Bank, Guotai Junan, Ping An Insurance, according to a document on Tsingtao Brewery, SAIC Motor, Suning Commerce and Spring Airlines.
Current Dividend Preference.
Participating Preferred Stock.
Convertible Preferred Stock.
Cumulative preferred stock includes a provision that requires the company to pay preferred shareholders all dividends, including those that were omitted in the past, before the common shareholders are able to receive their dividend payments.
Non-cumulative preferred stock does not issue any omitted or unpaid dividends. If the company chooses not to pay dividends in any given year, the shareholders of the non-cumulative preferred stock have no right or power to claim such forgone dividends at any time in the future.
Participating preferred stock provides its shareholders with the right to be paid dividends in an amount equal to the generally specified rate of preferred dividends, plus an additional dividend based on a predetermined condition. This additional dividend is typically designed to be paid out only if the amount of dividends received by common shareholders is greater than a predetermined per-share amount. If the company is liquidated, participating preferred shareholders may also have the right to be paid back the purchasing price of the stock as well as a pro-rata share of remaining proceeds received by common shareholders.
Significance to Investors.