Can the Geothermal Industry Overcome Challenges to Raising Capital?

October 30, 2011 By

Can the Geothermal Industry Overcome Challenges to Raising Capital?

In the past year, geothermal project developers used alternative strategies to overcome three common challenges to geothermal project finance. While the challenges for raising capital at the project level are consistent with those faced in previous years, they have become even more pronounced as investors’ risk-tolerance remains low and capital constraints continue.

Three key challenges to raising capital for geothermal project investment have adversely affected developers in the past year.

  • Concerns about creditworthiness of smaller firms. the geothermal industry is a fragmented one, with many smaller companies holding portfolios of just a few projects. with fewer assets against which to secure loans, these smaller firms pose a more significant risk than firms with more diversified portfolios. Even though many of these companies are traded on public exchanges, their capitalization levels are relatively low compared to larger renewable energy technologies companies like Vestas, First Solar, and Iberdrola.
  • Challenges securing debt with recourse to a single project. When conditions permit, developers prefer to secure project-level debt with no recourse to the company in the event of default. This “non-recourse debt” reduces the developer’s risk in the event of default because the company’s other assets are protected. Non-recourse debt, however, increases risk for lenders who generally have been unwilling to provide this type of loan in the past year. Lenders have sought more collateral to reduce the risk of loss.
  • Higher transaction costs at the project level. Geothermal projects that have reached at least the permitting stage in the U.S. are smaller in terms of capacity as compared to other renewable energy projects. with few exceptions, geothermal projects are in the range of 25 to 50 MW, while wind projects are typically at least 100 MW. Similar levels of due diligence and negotiation are required for investments at this scale, resulting in relatively higher transaction costs for geothermal projects.

As a result, companies developing geothermal projects in the United States have deployed a diverse set of strategies — fitting each company’s unique circumstance and leveraging the available resources — to address these challenges.

Overcoming Concerns about the Creditworthiness of Smaller Firms

Well-known but smaller-cap geothermal firms have partnered with larger, more well-established firms. These partnerships provide smaller firms with the capital needed to move forward on their projects and in some cases, the credibility needed to secure financing. At the same time, larger firms benefit from the financial returns on the project and the strategic benefits of partnership.

Over the past year, both Nevada Geothermal Power and U.S. Geothermal deployed this strategy. Nevada Geothermal Power’s 30-MW Crump Geyser project in Oregon is a joint venture with geothermal industry giant Ormat. with a vertically integrated business model and a long history of strong financial performance, Ormat was seen as an ideal partner for the growing Nevada Geothermal Power. By providing the cash needed to complete the project, Ormat gained access to a lower-risk return on a project that was further into the development cycle than others in its own portfolio. the partnership also provided both companies with the potential to consider future collaboration.

U.S. Geothermal partnered with Enbridge to raise equity for its 23-MW Neal Hot Springs project in Oregon. This partnership brought Enbridge, a Canadian gas transportation and distribution company, its first geothermal investment. the partnership leveraged Enbridge’s familiarity with the early-stage risk profile of geothermal development, which is closely related to that of oil and gas resources. It also provided Enbridge with the opportunity to experiment with investments in the renewable energy space at a much lower risk.

The creditworthiness of the Neal Hot Springs project was further strengthened by a U.S. Department of Energy Loan Guarantee, which backed a $97 million loan provided by the Federal Financing Bank. the loan represented the balance of capital needed to complete construction on the project. with the loan and the combined equity of U.S. Geothermal and Enbridge, the debt-to-equity ratio on the project was 75 to 25.

Addressing Challenges to Securing Debt with Recourse to a Single Project

Over the past year, geothermal developers have bundled combinations of their assets in order to leverage their equity investments with debt. in many cases, these assets are limited to a portion of those owned by the company but are broader than those assets tied to a specific project. This approach limits the amount of leverage developers have because the debt typically appears on the company’s balance sheet. in exchange, however, developers have secured the capital needed to continue to develop the resources to which they have rights.

Gradient Resources (formerly Vulcan Power) and Ram Power have each used corporate assets as collateral to secure credit in order to continue development. Gradient Resources secured a $13 million loan from GB Merchant Partners, LLC, with the firm’s geothermal drilling and cementing equipment. the proceeds from the loan enabled Gradient Resources to continue development of three projects in Nevada. This limited-recourse loan only put select assets at stake, but was unique in that the capital was not tied directly to the projects it will support.

In March 2011, Ram Power closed on a two-year $50 million credit facility providing additional working capital to support its portfolio of projects under development. the credit facility was secured by “unspecified assets” of the company but is not tied to a single project. in addition, the lenders retained rights to exercise warrants based on Ram Power’s reliance on the credit facility. the warrants provide the opportunity for the lender to earn additional returns on its investment if it elects to exercise them.

Reducing Transaction Costs associated with Project Finance

Bundling projects to reduce transaction costs benefits both the lender and the borrower. the lender benefits from access to a portfolio of assets used to secure the loan. the borrower benefits from lower costs of capital, in terms of both fees to lenders and any arranger as well as in terms of staff time committed to closing the deal.

Both Ormat and John Hancock Life Insurance Company took advantage of these benefits in an application to the U.S. Department of Energy (DOE) for a Federal Loan Guarantee. Ormat bundled three projects — McGinness Hills, Jersey Valley and Tuscarora — that total 121 MW, achieving a scale similar to those achieved by wind projects. meanwhile, bundling diversified John Hancock’s resource risk and development risk for projects in multiple stages of development. in June 2011, DOE conditionally awarded the bundle a partial guarantee of up to a $350 million loan.

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Evolve Launching 3 New Electric Scooters – Mobile Magazine

October 15, 2011 By

1318707904 60 Evolve Launching 3 New Electric Scooters Mobile Magazine

For those of you who want to save the Earth by using electric cars and scooters, new models have been launched by new York’s evolve motorcycles.

All the new models come with lithium-ion batteries, feature the latest electrical and charging technologies and come with a one year roadside assistance warranty all the while reaching speeds between 60 and 70 miles per hour. That’s the spec on their speedy Titanium models, you can also slow it down to 40 mph for the lightest models in their scooter line.

The scooter users will also soon have an application aimed for iOS devices (and will later be available for other mobile operating systems) that will allow riders to record their journeys, upload photos and videos and locate other evolve riders as well as close charging stations. Information on the bike’s performance can also be accessed through the same application.

The most expensive scooter, the Titanium model, starts at $5,400 USD and features a 5,000 watt electric motor and a battery that can fully charge in just 2.5 hours. The neon model will start at $3,900 and sports a 3,000 watt motor that allows a top speed of 50 mph.

While all the models are currently available for pre-order, shipping will oddly start in early December.

[GizMag via Evovle Motorcycles]

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New energy in search for future wind

October 15, 2011 By

1318689907 38 New energy in search for future wind

Enlarge

Improving estimates of long-term wind speed changes for the fast-growing wind energy sector will help reduce risk for generators in a changing climate. Image credit – Gregory Heath, CSIRO

Scientists are taking the first steps to improve estimates of long-term wind speed changes for the fast-growing wind energy sector, intended to reduce the risks for generators in a changing climate.

Some recent international studies have shown a decrease in wind speeds in several parts of the globe, including across Australia. however, more recent results by CSIRO show that Australia’s average is actually increasing.

Scientists at CSIRO Marine and Atmospheric Research have analysed wind speed observations to understand the causes of variations in near-surface wind and explore long-term wind speed trends over Australia.

“We have a good picture of wind energy availability across Australia from previous CSIRO wind mapping and, with the growth of , there is an emerging need to understand how can affect the wind resource,” says Dr Alberto Troccoli, lead author of the paper published in the Journal of Climate.

“Wind power production is expected to increase greatly over the coming years and the associated electricity system will be subject to variations of several hundred – depending on wind availability.

“The ability to quantify with accuracy these long-term variations is essential to the sector from an economic point of view,” he said.

The conjunction of energy and meteorology is the subject of an international conference on the Gold Coast in November.

Dr Troccoli said that averaged across Australia wind speeds measured at a height of 10 metres had increased by 0.69% per annum compared to a decline of 0.36% per annum for wind speeds measured at 2m height, both over the 1989-2006 period.

Accurate estimates of long-term trends of wind speed provide a useful indicator for circulation changes in the atmosphere and are invaluable for the planning and financing of sectors such as wind energy.

“The potential for increasing the efficiency of energy operations by using quality weather and climate information is therefore apparent and one of the first steps is the standardisation of wind recording stations.

“Wind observations, like other meteorological variables, are sensitive to the conditions in which they are observed – for example, where the instrumentation sits relative to topographical features, vegetation and urban developments.”

The team found that the wind speed trends over Australia are sensitive to the height of the station, with winds measured at 10m displaying an opposite and positive trend to that reported by a previous study which analysed only winds measured at 2m.

Light winds measured at 10m, a height that represents better the free atmospheric flow, tend to increase more rapidly than the average, whereas strong winds increase less rapidly than the average winds. Light and strong wind measured at a height of 2m tend to vary in line with the average winds.

“Our work shows a number of challenges with the consistency of the observations during their period of operation and between sites across Australia.

“The quality of future wind observational datasets will depend on having consistency between sites, particularly with respect to measurement procedure, maintenance of instrumentation, and detailed records of the site history,” Dr Troccoli said.

He said the work has implications for a variety of sectors beyond including building construction, coastal erosion, and evaporation rates.

Provided by CSIRO (news : web)

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Reforming Govt Policies To Drive Innovation

October 4, 2011 By

Reforming Govt Policies To Drive Innovation

The anti-clean-energy echo chamber has been publicizing the bankruptcy of Solyndra, a manufacturer of solar energy panels, arguing that the President’s clean energy job creation program is ineffective. but most of this criticism is just political posturing and not really trying to learn from these failures, which importantly have not prevented solar energy from growing dramatically while reducing costs.

One direct source of the problem is that China has succeeded in reducing the cost of manufacturing first-generation solar panels to such an extent that many companies around the world cannot compete. Notwithstanding this success, most American solar companies remain ahead of their overseas competition, as I illustrate below.

The  issue of American industry remaining competitive with China is, of course, not unique to clean energy: many American producers are challenged to keep up with Chinese competition.  But with solar, the Chinese government has been particularly effective in developing an industrial policy that provides Chinese manufacturers with a number of advantages in the global solar industry, including access to lower cost capital, subsidized electricity rates, free access to land, cheaper labor, domestic manufacturing requirements, and a much shortened permitting process for factories.

America, in contrast, has generally avoided industrial policy. Opponents of industrial policy argue that the market can pick winners better than government can, and I believe that this principle is generally correct, but I also think that innovation needs government support.  The lesson from China is not to tremble and retreat in the face of its challenges.  We are a great country of innovators and we need to support that.

While we at NRDC would not support the Chinese approach to industrial policy, nor would its approach work in America, there are certain smart policy approaches we can use that leverage America’s strengths in private sector innovation, investment, and job growth.  We would do well to focus on the success stories in our domestic solar industry, which include American companies like: first Solar, which are producing next- generation solar panels cheaper than their Chinese competitors;  SolarCity, which is using an innovative business model to bring hundreds of megawatts of solar to military bases; and Amonix, which is developing innovative high concentration solar photovoltaic (HCPV) technologies. these are only a few of many examples of success in the made-in-America solar industry.

Such vigorous competitive forces are good for the consumer. They bring prices of solar—and other clean energy and energy efficiency investments—down over time while product quality improves.

However, when developing policies to support emerging industries, the details are critical. So some closer examination of the issue of government support for clean energy can be helpful. one existing challenge with energy incentives for maturing technologies occurs when they don’t reward production, but rather focus on cost.

Cost-based incentives are employed by lots of governments around the world, probably because they are so simple to administer. This can make some sense for very early stage energy technology companies, which pose a real risk of not performing and thus are much more likely to receive financing when incentives are tied to cost instead of production.  but solar energy has been in existence for decades, and no longer falls into this category: the challenge for solar is to ramp up production and cut costs through greater deployment. As technologies mature, we should promote best-in-class products, and incentivize improved performance.

An example of how not to do it is the 1978 federal tax incentives for both efficiency and renewable energy, which were found to have cost billions of dollars but had minimal effect in improving efficiency beyond what was already occurring. This failure is not surprising: if the incentive encourages people to spend money on solar (or efficiency), they may spend more but they may not produce more power (or savings). Incidentally, the last sentence is a paraphrase of the remarks that Congressman Phil Crane, one of the most conservative Republican members of the House, made to me when he decided to co-sponsor a bill on which NRDC had worked that provided performance-based incentives for solar and efficiency.

But unfortunately, when Congress adopted solar incentives in 2005, they chose (over the recommendations of the industry as well as NRDC) to create cost-based incentives. these could well have been a major contributor to the imperfect results of the incentives. So if there is political blame, those responsible are both Republicans and Democrats.

When I say that the results are imperfect, this is because on one hand, some big companies did not succeed, but on the other, since 2005, total solar capacity has grown over 45% every single year.  last year the amount of solar installed in America doubled from the previous year, and growth hasn’t slowed even in a tough economy.  meanwhile, the cost for solar power continues to fall at an incredible pace.  According to the Lawrence Berkeley National Laboratory, the price of solar installation dropped 17% from 2009 to 2010, and another 11% in the first half of 2011. perhaps this generally favorable outcome is due to the fact that some large states structured additional non-federal incentives into their solar programs and effectively overrode the cost basis of the incentives for installations in their states.

The failure of a few solar companies has to be placed in the context of the explosive overall growth of this sector of the clean energy industry. the right response to these few failures and to general fiscal concerns is not retreat from innovation and healthy competition with China; the right response is to make sure we’re using the right policies for the right stages of technology development and generally have a much greater emphasis on performance-based policies.

NRDC believes that government support for emerging technologies in clean energy plays a critical role in advancing innovation and bringing the costs of these innovations down (that ultimately benefit consumers), and that the long-term effects repay the Treasury hundreds of dollars for each dollar spent on incentives. but the structure of incentives must be compatible with market forces: incentives for commercialized technologies—including most of the solar market—must be based on performance, not cost. and it is important to track what works, and recreate or expand successes while avoiding a repeat of failures.

[Photo by Håkan Dahlström]

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Earth 4 Energy Review

September 11, 2011 By

Earth 4 Energy Review

What is Earth 4 Energy?

The Earth 4 Energy guide includes a complete DIY instructions on how to power your home with renewable energy by building your own wind power generator or building your own solar panels. The guide includes step by step illustrations so that it’s very easy to follow.

Less than $200

How much does it cost (including all materials) to build your own windmill or solar panel using the easy to follow step by step instructions in the Earth 4 Energy guide? Less than $200 The cost of the guide and the materials could easily be covered by the savings you’ll be making on your electric bill within just a couple of months. Everything after that will be savings.

Doing Your part for The Environment

Al Gore recently said that the United States of America could be totally powered by wind and solar energy within 10 years (2018) if we put our minds to it. you can be ahead of the curve by powering your own home with wind or solar energy right now. you will be doing your part for the environment when you are using clean renewable energy. Many people talk about caring about the environment, you will be walking the walk as well.

Energy Independence

I don’t want to turn this review of the Earth 4 Energy guide into a political diatribe but one of the great things about this guide is that it will help you to do your part for energy independence. What does that have to do with politics? well it could be convincingly argued that the war in Iraq was fought over oil. think of all of the money & lives wasted for oil. What if we didn’t need oil from foreign countries anymore? think of the peace that would bring the world?

Summary

This guide is definitely a good buy if you want to power your home with your own renewable energy. It’s everything you need to get started. Oh yeah, and it’s 100% satisfaction guaranteed. So there’s no risk involved. Also it can be downloaded instantly online so you can be reading the guide within minutes from right now.

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Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

September 7, 2011 By

Back in August, the redesigned 2013 Lexus GS 350 sedan made its world debut at the Pebble Beach Concours d’Elegance. The new GS 350 brings out a an all-new sheet design, a much roomier cabin and the cutting-ede technology from Lexus, and competes in a segment with the BMW 5 Series, Audi A6 and Mercedes-Benz E-Class.

The model introduced to journalists at Pebble beach is the five-passenger, rear-wheel-drive GS 350. The 2013 GS looks much more aggressive than the previous model. The car has a wider track and aggressive wheel arches, a significant improve over the “soft design” in the previous generation. The automaker has indicated that the 2013 GS 350 will serve as a preview of things to come from Lexus.

1315414872 11 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

A series of aerodynamics features dominate the exterior design, starting with the L-shaped taillights, as well trunk lid and fully functional front air inlets. The redesigned front-end stands out with the twin blade-like chrome strips that flank the trapezoidal grille.

Taking a play from BMW, the interior design focuses much more on the driving experience and the driver. Lexus said it changed the driver’s seating position providing “increased comfort, better forward visibility, and overall command of the road.” The GS 350 features added leg and knee room. to successfully complete in a segment where premium features are combined with practicality, the trunk space is increased by 25 percent, with a wider trunk opening.

1315414872 32 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

The cabin’s most impressive feature is the massive 12.3-inch screen. The screen is capable of supporting high-definition graphics, and can be split to show both a large map, audio or climate control information, similar to the big screen offered in many BMWs. Additionally, a second high-resolution 8-inch display is located in the instrument panel. this second display can be used with Lexus’ Remote Touch system, which allows the driver to operate climate, audio, navigation and phone controls from steering wheel-mounted buttons.

1315414873 39 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

The 2013 Lexus GS 350 is powered the same 306-horsepower DOHC 3.5-liter direct-injection V6 mated to a six-speed sequential shift automatic transmission with paddle shifters and a multimode selector. All-wheel drive is optional. The power gets a bump to 306 hp and 277 lb-ft of torque. Lexus claims a 0-60 mph time of around 5.7 seconds. The electronically limited top speed gets a slight bump up to 142 mph, from 140 mph.

Power-wise, the BMW 5 Series offers the same 306 hp, but with 295 lb-ft of torque. The direct competitor, BMW 535i, is powered by a TwinPower single turbo 3.0 liter engine and runs to 60 mph in 5.6 seconds.

1315414873 47 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

1315414873 30 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350

The wheelbase of the new 5 Series is also longer at 116.8 in in vs 112.2 in for the GS 350, with an overall length of 192.8 in vs 190.9 in.The width is measured at 73.2 in vs 72.4 in for the Lexus.

In the weight department, the BMW 535i is the overweight premium sedan with a curb weight of 4,056 lbs versus 3,715 lbs reported by Lexus.

As always, BMWBLOG provides a photo comparison of the competing vehicles and we will let you decide on the styling preference.

1315414874 83 Photo Comparison: BMW 5 Series vs. 2013 Lexus GS 350 Loading …

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Windmill Power – 10 Unbeatable Advantages of Using Wind Power

September 3, 2011 By

Windmill Power 10 Unbeatable Advantages of Using Wind Power

Contrary to popular perception, windmills have been in existence for a long time now. while in the earlier days they were used to produce mechanical energy to pump water, these days they are being used to generate electricity. you can in fact build one for your home too by following instructions that you can find in the various do it yourself online guides on the topic. From helping save the environment to cutting down on your energy bills, windmill power comes with a host of advantages.

1.The biggest advantage that you get with windmill power is that it substantially reduces the cost of electricity. in fact in some cases it completely eliminates the cost too.

2.You no longer need to depend on power companies.

3.You can sell the electricity produced back to power companies in certain areas.

4.Unlike other sources of energy, windmill power is a renewable source of energy.

5.No damage to the environment is caused when windmill power is produced. Windmill power is perhaps the cleanest source of energy that is available.

6.You directly contribute to your country’s cause by helping it reduce its dependency on other countries for oil.

7.By using windmill power you are setting an example for the next generation to follow.

8.Homemade windmills are extremely easy to maintain. All that you need to do is to check for some worn out components at regular intervals of time.

9.The operating cost of a windmill is also very low, one of the reasons why it is gradually becoming popular among homeowners around the world.

10.You need not spend a fortune building a windmill. most of the materials that you want for building can be found in a local hardware store near you.

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EV Drag Racing: EarthTechling Earth Videos

August 15, 2011 By

EV Drag Racing: EarthTechling Earth Videos

Drag racing: it might be a fun way to get the adrenaline going, but it’s noisy, dirty and polluting…right? Not necessarily. thanks to innovations in electric vehicle technology, some intrepid auto-tinkerers, and sponsorships from organizations like the National Electric Drag Racing Association (NEDRA), you can have your high-speed thrills without leaving a huge carbon footprint.

Electric drag racing has taken off in the recent past, and proponents of EVs see racing events as venues to educate the public about the power, reliability and sustainability of electric vehicles. This week we’ve rounded up some pretty epic drag racing videos starring some very formidable electric vehicles, as well as some talks with the builders and drivers of the EVs. Drag racing is not to be confused with other auto races like those featured by NASCAR or Formula one. A drag race is like a sprint, where two vehicles race in a straight line from a complete stop and attempt to cross the finish line first. if you’re interested in other forms of EV racing, check out the EV Cup, as well as another one of our Earth Video installments.

American Muscle Vs. White Zombie

Electric Drag race Car from the University of Pennsylvania

WORLD’S FASTEST ELECTRIC DRAGSTER Current Eliminator V

Electric Car Drag Racing in Hagerstown, MD

DVP – DC Plasma v Predator Electric Drag Racing

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Capturing Renewable Energy With Ornamental Windmills

August 7, 2011 By

Capturing Renewable Energy With Ornamental Windmills

Written by Info Expert on July 25, 2011 | Posted in Home Improvement

Wind turbines or windmills may easily be utilized for a large range of applications. Standard uses concerning a windmill can consist of functional as well as decorational usages. A great number of individuals refer to these types of windmills as being decorative windmills due to the fact they are strictly for decorative applications. Truth be told there are also well-designed windmills that will do quite a bit more than merely spicing up the appearance of the property. A large amount of folks employ windmills for their small garden entirely because of their functional purpose. Functional windmills are able to yield energy from the wind flow that hits them.

Electric power provided by a functional windmill may well be implemented to power a water pump which is going to keep a vegetable garden watered at all times. Cosmetic windmills have indeed grown to be quite prevalent which is precisely why they are showing up in lawns all around the world. Many individuals might not think that a ornamental windmill could possibly grant so much elegance to a property. Windmills both ornamental and practical can be manufactured using a wide range of regular and special materials. Usually the well known materials chosen to build windmills are iron and wood.

Plastic along with textile are generally not so common materials used to create decorative windmills. Smaller much more vibrant windmills which often are shaped similar to a flower are actually constructed using plastic or textile. the actual overall size and height of a windmill is normally going to be different but the traditional windmill is anywhere from 8 to twenty ft . in height. Windmills depending on whether or not they are functional or decorative could possibly cost you thousands. Decorative windmills quite often are significantly less costly and will probably only set you back a few dollar bills. A windmill regardless of whether it is functional or aesthetic will add a high-quality accent to just about any backyard or garden.

Anybody who is planning to add some curb appeal to their home can simply bring in a garden windmill. A relatively common and sensible utilization of a windmill is for wind electricity. Powering anything by using wind power is a savvy idea. the prices of fossil fuels along with a variety of other energy sources is likely to sky rocket consistently. At some point non-renewable fuels will disappear permanently which is the key reason why wind energy is such a wonderful choice. the total amount of wind power that can be acquired by means of a windmill is immense. using an adequate amount of windmills it is actually conceivable to provide power to an entire household.

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What Are You Reading? with Tom Scioli

July 6, 2011 By

Hello and welcome to what are You Reading? Today our special guest if artist Tom Scioli, artist on Godland and creator of American Barbarian.

To see what Tom and the Robot 6 crew have been read, click the link below.

Tim O’Shea

My part of this week’s what are You Reading opens with writer Sam Humphries and artist Steven Sanders’ creator-owned one-shot, Our Love is Real, which the creators intend to self-publish/release. The book is not set to launch until July 6, but Humphries was good enough to send me a preview PDF. Here’s the creators basic pitch (which they suggest you file under “OMG/SCI FI/WTF) for the 24-page one-shot: “FIVE YEARS AFTER THE AIDS VACCINE…Plantsexuals riot in the streets for equal rights. Humans fall in love with dogs. And crystals are more than just jewelry. A chance encounter on the job changes a riot cop’s life forever as he finds himself caught in a bizarre love triangle that blurs romance, crime, and lust beyond recognition.” Pardon the pun, but don’t be turned off by the pitch. There are no graphic sexual scenes (though the lead character Jok cusses a lot). The story impressed me for how economic Humphries was with his words and his script for the story. he effectively covers a great deal of ground and is even able to work in a three-page fight scene with no dialogue. Oddly enough, I loved those three pages the most, because of Sanders’ dynamic art. Go to the website and check this story out.

Long before Fred Van Lente was cracking us up with the adventures of Marvel’s Hercules, he teamed with artist Ryan Dunlavey on Action Philosophers! The creators have just released The more than Complete Action Philosophers, which collects all nine issues, but rearranging the philosophers’ tales in chronological order. It’s hard to single out any one aspect of this historical comedy, but for me, I love the panel introducing Saint Augustine drunk in two bed with two women, with the narrative blurb “does this man look like a saint to you?”

1309918509 11 What Are You Reading? with Tom Scioli

Initially, I had planned on taking a vacation from buying any monthly comics this week, since I was literally on vacation. But then out of curiosity I let Google Maps tell me if there were any comic book stores within 30 minutes of where I was. That’s how I found out about Apocalypse Comics in North Myrtle Beach, SC. The store, which recently moved to a new location, probably has the best signage I have ever seen for a comics store (as shown in the photo). another point in its favor? The comics are not laid out in alphabetical order, but rather they are divided up between independent, DC and Marvel. Better still, the independent titles are the first set of comics you hit when you walk in the store.

Speaking of independents, my son and I continue to love Robert Kirkman and Jason Howard’s Super Dinosaur (this week saw the release of issue 3).

In the mainstream, I have rarely bought a comic based on the cover but Batman Incorporated #7 (by Chris Burnham) sported a great cover. Yet the cover has little to do with the actual story, but fortunately the story inside is an equally good read. And given how I have a very hot and cold reaction to Grant Morrison, for me to praise his writing is not that common. After reading it, I will likely track down issue 6 at my local store.

Brigid Alverson

1309918509 15 What Are You Reading? with Tom Scioli

I have heard good things about Scott Chantler’s two Generals, his narrative of his grandfather’s experiences as a Canadian officer who took part in the D-Day invasion, so I brought it along on my vacation for some summer reading. I’m not finished with it yet but it’s a fascinating book, filled with little details. on one page, Chantler shows his main character, his grandfather, in two successive frames, and the changes in his face between those frames speak volumes. I also keep noticing his careful composition; Chantler starts with a nine-panel grid but he breaks it frequently to introduce horizontal or vertical shapes, and more subtly, he balances the panels across the two-page spread, often mirroring an object or shape from one page on the opposite side. he also uses color in interesting ways, sticking mostly to a gray-green shade but using red in limited quantities for moments of violence or shock. It’s an amazing book and well worth the read despite the violence of the subject matter.

The other book I’m enjoying this week is Dave Roman’s Astronaut Academy. I go back a ways with this one, as Dave sent me the original mini-comics years ago, and the new version retains much of the silliness and childlike humor of the originals while reflecting Dave’s growth as an artist. The book is a series of short stories featuring different students in an outer-space school, with some unifying plot threads running through it, such as the competition between rich girl Maribelle Mellonbelly and spunky Miyumi San. Dave is a former editor for Nickelodeon Magazine (which was a treasure trove of good comics back in the day), and his style is cartoony and a bit exaggerated. It’s a fun read, especially for kids, who will really appreciate the silliness.

Tom Scioli

Rocketeer Adventures #2: So far this series has been nicely-drawn and genial, so it’s a fitting tribute to Dave Stevens’ original series. The first story, by mark Waid and Chris Weston features a Captain Marvel analog. There are probably a lot of references I’m missing in this story. The original Rocketeer stories were filled to bursting with authentic period detail and references to 1940′s pop culture, rewarding the careful reader. I imagine that’s something the various creators are trying to achieve with these new vignettes. I imagine Stevens would’ve found a sly way of including the actual Captain Marvel rather than an analog, the way Lamont Cranston made an appearance in Cliff’s New York Adventure. A quick google search didn’t reveal anything about a character called Aeroman, but the costume does look familiar, maybe an old Nedor character. Waid is fond of dropping in obscure references to old comic and pulp characters, so I’m sure there isn’t anything random about Aeroman. The story itself is attractively drawn and plays on the Rocketeer-worthy trope of the hero who saves the day, but gets none of the credit.

Darwyn Cooke’s story starts off in high style. The intro page, with it’s saturday matinee feel is so effective that when the story proper gets going in the next page it really hits hard. You can almost hear the narrator’s voice change from old-timey announcer to the hear-and-now. I guess each of these creative teams is trying to answer the question, what is the Rocketeer? what is a Rocketeer story? 1940′s Cheesecake? Darwyn’s story takes that on directly. A cliffhanger feel? Check. Cooke’s story ends with a cliffhanger hinting of a Cliff vs. the Nazis payoff. Geoff Darrow provides that next piece, but in the form of a double-page spread, rather than a full story. I was a little disappointed at first, but Darrow’s single image packs a lot of punch. this is the first time it’s occurred to me, probably from seeing Darrow’s art in a golden age milieu, that his spray of bullets motif is reminiscent of Fletcher Hanks’ flocks of birds that taper off into the distance. I wonder if that’s a conscious connection.

The issue is rounded out with a story by Lowell Francis and Gene Ha. it consists of a well-choreographed aerial gunfight. Superimposing blow-by-blow boxing announcers is a well-worn device in comics, but it works nonetheless.

Like the Escapist series from a few years back, I imagine they’ll go the rotating creators on short stories route for a few issues before sinking into a longer sustained run by a creative team. I’m enjoying these bite-sized strips and look forward to when they try something a little more ambitious.

Dave Stevens was just able to scratch the surface of his creation. I imagine he’d be very pleased if these new teams were able to excavate something really amazing from the concept. it seems like they’re well on their way to that.

Breed III #2: Starlin is really good at getting new readers up to speed, so if you haven’t read Breed books 1 and 2 or issue 1 of Breed III, you’d still be able to get something out of this one. It’s unclear to me if this is a previously-drawn story from the 90′s that Starlin’s been sitting on, or if this is something he drew very recently, but it’s very strong stuff, as tight as anything he’s ever done. he was an early experimenter with computer graphics in comics, and that’s on display here. he has a very idiosyncratic and recognizable approach to computer effects. some great MC-Escher-esque cityscapes and a hum-dinger of a double-page spread. Readers might recognize some familiar faces among the demonic fifth columnists in this issue. The best sequence is a very unassuming one. There’s a series of nuanced drawings that set up a punch very effectively. it give the punch real impact.

Batman Inc. #7: between Grant Morrison’s books and the currently-delayed Batman:Odyssey, I’ve been buying more Batman comics than I have at any point in my life, except maybe the lead-up to the original Tim Burton film. this is probably the most interesting time to be reading Batman comics since Miller’s heyday with the character. this issue is my favorite so far of the recently-christened Batman Inc. series. Sometimes you can get some mileage out of the superhero genre by grafting some real-life situation that superhero comics haven’t gotten their hands on yet. For this issue Grant Morrison and Chris Burnham transposed the Batman myth onto reservation culture and came up with an entertaining read. I haven’t read Scalped yet, but I’m guessing it was an influence on this book? It’s got a lot of surprises which is hard to do in a 20-some page superhero comic. It’s got me looking forward to the next issue which seems to feature a Tron-like virtual world.

Eternals #10 by Jack Kirby: Here’s a comic you can study and pore over. There’s a series of beautiful epic shots of a Space God casually causing a series of disasters in an underwater city, before swimming away with a school of whales. this issue is one of the peaks of this woefully underrated series, the sub-plot of Thena and Kro’s anti-love story in the land of the Deviants. It’s only the millionth time I’ve read it.

Invincible Iron Man: fear itself #505: It’s part 2 of an arc titled Cracked Actor (Bowie reference). I didn’t read part 1, but with superhero comics that’s usually a plus. It’s a nice little story, in the old-school Marvel tradition. There’s some cool apocalyptic imagery and a well-choreographed fight. this is a tie-in with Matt Fraction’s current line-wide crossover fear itself, which if you haven’t read, centers around classic Marvel characters getting evil Asgard-powered upgrades. In this one, Iron Man goes head-to-head with an amped-up Apokoliptic version of the Grey Gargoyle. The way GG’s super-sized powers are imagined here is very effective. Salvador Larocca’s layouts and linework are a lot more lithe than I remember them being in the previous Iron Man volumes I’d read. The depictions of Iron Man almost enter into John Romita jr. territory. I’m liking it.

Steve Ditko’s Package #1 from 1999: I don’t usually like Ditko’s late-late-era Randian tracts, but this one really delivered. Great art, great stories and he plays with the form in ways only someone with multiple decades of following his own muse can do. he rearranges the players in a murder story, creating something I can’t quite put my finger on in the repetition. In another story he has one of the most effective uses of a talking robot head I’ve ever seen. maybe this is obvious to everybody but me, but this is the first time I’ve noticed how strong the similarity is between Ditko and Los Bros Hernandez. this “package” is composed of short stories of varying lengths, but they add up to something very satisfying and strangely unified. I enjoyed this way more than I thought I would. I’m partway through his book The Mocker from 10 years earlier and am also enjoying it. Ditko’s b/w work is made for b/w. The range of textures and visual vocabulary is intoxicating. I’d read one of these Mocker stories in color in the back of an issue of Silver Star. it did not work at all in color, but works gloriously in b/w.

Incredible Change-Bots 2: this series has been a nice gift to those of us who’ve sat through the Transformers film series. Aside from being cute and funny, these are rock-solid, good transforming robot stories, a genre I grew up with. I hope he makes at least one for every Transformers film.

4 Comments

Been on a Kirby-collecting binge ever since I got the FF Omnibus. he really does have a sense of “epic” that isn’t present much today.

Apocalypse Comics is a great comic shop! Always swing by there when I’m on vacation in N. Myrtle Beach.

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