According to a new study, emissions of Greenhouse gases released directly through the movement of volcanic rocks have the capability of creating global warming effects and this discovery has the potential in transforming the way scientists predict climate change.The researchers reported the study in the journal Nature Communications. The calculations of scientists of how levels of carbon-based greenhouse gas link to the movements of magma present below the surface of earth suggest that such geological changes have caused the global warming from the past 65 million years.Geologists at the University of Birmingham have created the first mechanistic model of carbon emissions changes during the Paleocene-Eocene Thermal Maximum (PETM) - a short interval of maximum temperature lasting around 1,00,000 years some 55 million years ago.

The findings were published in Nature Communications, after calculations of carbon-based greenhouse gas fluxes that are associated with North Atlantic Igneous Province China Hex Nuts Suppliers which is one of Earths largest LIPs (Large Igneous Provinces) that covers Britain, Ireland, Norway and Greenland."Large Igneous Provinces are linked to spikes of change in global climate, ecosystems and the carbon cycle throughout Mesozoic time - coinciding with the Earths most devastating mass extinctions and oceans becoming strongly depleted of oxygen," said Dr Stephen Jones, Senior Lecturer in Earth Systems at the University of Birmingham."We calculated carbon-based greenhouse gas fluxes associated with the NAIP - linking measurements of the process that generated magma with observations of the individual geological structures that controlled gas emissions. These calculations suggest the NAIP caused the largest transient global warming of the past 65 million years," he added.Associations between LIPs and changes in global climate, ecosystems and the carbon cycle during the Mesozoic period imply that greenhouse gases released directly by LIPs can initiate global change that persists over 10,000 to 100,000 years.The PETM is the largest natural climate change event of Cenozoic time and an important yardstick for theories explaining todays long-term increase in the average temperature of Earths atmosphere as an effect of human industry and agriculture.

Ahead of the Paris climate talks at the end of this month, Union power minister Piyush Goyal on Thursday said that too many restrictions on carbon emission will curb India’s competitive strength."Too many restrictions on carbon emissions will curb India’s competitive strength. The developed world must provide access to low-cost finance and technology to developing nations for climate action," Mr Goyal tweeted on Thursday.The minister has also urged business leaders to become influencers to push India’s climate action plan.  

The UN Clim-ate Change Conference in Paris (COP21) is scheduled from November 30 to December 11.On Wednesday, Mr Goyal had said, "India stands for carbon justice. Our development imperative must be recognised."Mr Goyal had pointed out, "We are far better than other countries that have used low-cost energy as a tool to develop their nation. So, it’s very obvious that India will stand for climate justice. We believe that the carbon space will be vacated by the developed world and India’s development imperative has to be recognised."The minister is of the view that India is not the polluter and also not responsible for the agony the world is facing today."In fact, the statistics you see in Hex Nuts Suppliers the last 150 years, it is the United States which has contributed nearly 18 per cent to the carbon emission in the atmosphere. Europe has added another 21 per cent and China about 10 per cent," he had said."India’s share in carbon emission is probably two and a half per cent. Now, we are home to one-fifth of the population of the world. When you juxtapose our carbon emission on per capita basis, we are one-fifteenth of many of the developed world," Mr Goyal said.

The Union Budget 2019-20 will give a push to big-ticket infrastructure projects and thereby increase the demand for steel, industry players said.Finance Minister Nirmala Sitharaman on Friday announced a slew of steps to scale up the countrys infrastructure, including augmenting 1,25,000 km of hex flange nut Manufacturers rural roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY) at a cost of Rs 80,250 crore and creating a national highways grid."Clear emphasis has been laid on the infrastructure development along with a massive push to every connectivity avenue including industrial corridors, dedicated freight corridors, Bharatmala, Sagarmala, UDAN, and PMGSY," Steel Authority of India Ltd (SAIL) Chairman Anil Kumar Chaudhary said.He said the Budget also proposes investment of Rs 50 lakh crore in augmenting railways infrastructure by 2030 as well as substantial investments for roadways upgradation and connectivity.

The governments emphasis on investing Rs 20 lakh crore every year in infrastructure development will certainly help in increasing steel consumption and will facilitate the growth of the domestic steel industry, Chaudhary said, adding that SAIL is geared up to cater to the increased demand.Tata Steel CEO and MD T V Narendran said the domestic steel market has seen some decline in demand, and the measures announced in the Budget are a welcome development."We believe investment in the infrastructure sector and moves to attract private capital in railways and waterways can have a positive cascading effect in the economic activity across sectors of development and growth."Connecting rural India, both physically and digitally, is another positive step for the economy. Announcement of streamlining multiple labour laws into a set of four labour codes is a progressive step," he said.He further said the cost of doing business in India is one of the highest in the world, and the measures announced in the Budget, including logistics solutions, will address some of the issues faced by the capital-intensive steel industry.N A Ansari, Joint Managing Director, JSPL, said the proposed investments in infrastructure, including improving railways through the public private partnership (PPP) model, can be an opportunity for the steel industry.Rashtriya Ispat Nigam Ltd (RINL) CMD P K Rath also said investment in infrastructure and housing sectors will spur demand and growth in the steel sector.The Economic Survey for 2018-19 estimated the countrys steel output to hit 128.6 million tonnes (MT) by 2021 and consumption to reach 140 MT by 2023 on the back of investments in infrastructure, construction and automobile sectors.

The government on Wednesday said Indias prospects to become a top steel exporter depends on a range of factors, including competitiveness and demand, and will not be impacted by the trade barriers the US has put on imports.Last month, US President Donald Trump imposed high tariffs on steel and aluminium imports and defended his step by saying that it was necessary to boost the US industry hit by "unfair" business practices, a move that has ignited fears of a global trade war.

The US decided to impose 25 per cent import tariff on steel and 10 per cent on aluminium. Minister of State for Steel Vishnu Deo Sai said in a written reply to the Rajya Sabha, "The exports to the US constitute only about 2.6 of Indias total exports of steel.The minister said the US move to impose high tariffs on steel imports will not have an impact on Indias aim to become a leading steel exporter. To a question if thecarbon steel nuts countrys ambition to become a major steel exporter could be disrupted due to import curbs, Sai said, "No... Indias ambition to become a major steel exporter depends on a number of factors which include demand in the foreign markets, its competitiveness and domestic demand."Instead, the exports of total finished steel from India have increased by 84 per cent to 10.87 million tonnes (MT) in the January-December 2017 from 5.90 MT the corresponding period of last year, he added.

The global ratings agency in February downgraded credit ratings of Tata Steel by two notches to Ba3 from Ba1.  Moody's Investors Service on May 27 said greenfield expansion of Tata Steel operations in India and expected restructuring of UK operations improve earnings, but kept its ratings unchanged.  

The global ratings agency in February downgraded credit ratings of Tata Steel by two notches to Ba3 from Ba1 on a weaker than expected operating performance in its key operating markets of India, Europe and South-East Asia on account of persistently weak steel prices. "Ratings on Tata Steel (Ba3 negative) and Tata Steel UK Holdings (B3 negative) remain unchanged at this point in time despite their weak operating results for the full year ended March 2016," Moody's said in a statement. Tata Steel reported consolidated revenue of Rs 1,172 billion and consolidated underlying  metric nuts EBITDA of Rs 79 billion, down 16 per cent and 39 per cent, respectively, from a year ago. "... the results for the quarter ended March 2016 showed a substantial improvement over the previous trailing quarter with consolidated revenue and EBITDA of Rs 295 billion and Rs 23 billion, an increase of 5 per cent and 171 per cent respectively," it said. The improvement in the operating performance was a result of the general uptick in global steel prices in February and March, after an all-time drop in January. "We estimate consolidated adjusted leverage of 8.7x at March 2016, slightly below the peak of 9.0x at December 2015. Looking ahead into 2016-17, we expect leverage to correct towards 6.5x-7.5x," said Kaustubh Chaubal, Moody's Vice-President and Senior Analyst. Tata Steel's reported gross debt of Rs 862 billion at March 2016 rose by only Rs 55 billion from March 2015 levels despite capital expenditure of Rs 115 billion and weak operations during the year. "The proposed sale of the long products business to Greybull Capital (unrated) and the company's intention to sell its UK business are credit positive, although there is no immediate impact on our ratings or outlook," said Chaubal. "The divestment of the loss-making operations will reduce the drag on the European business' profitability which has been under strain for a while although much is unknown about the divestment contours, including debt and pension liabilities to be transferred, which in particular will drive the impact, if any." Tata Steel's India business revenues and underlying EBITDA of Rs 382 billion and Rs 74 billion were down 9 per cent and 27 per cent, respectively, from last year's. Its European operations reported revenue of Rs 674 billion and underlying EBITDA loss of Rs 6 billion, down 16 per cent and 115 per cent, respectively, for fiscal 2016.