Tax Havens versus FATCA

In the past without government support around the world, Americans were able to keep offshore accounts in the Bahamas, Switzerland, Cayman Islands and many other tax and secrecy havens around the world without the IRS scrutiny.  Foreign Account Tax Compliance Act or FATCA became law on July 1, 2014,  The purpose of FATCA is to target Americans who are evading paying US taxes by hiding their assets in a foreign country.  As a result foreign financial institutions have to sign on to agreeing to comply with FATCA and a Global id number would be assigned to that institution.  By agreeing, the foreign financial institutions are required to report to the IRS all client accounts own by US persons.  If any FFI does not agree to sign on to this agreement, they will not have a GIN number and as a result US will impose a 30% withholding tax on their US transactions as a penalty.

The implementation of FATCA creates a burden on foreign financial institutions oversea as it creates A burden on system and resource to support this initiative.  Also those financial institutions in secrecy haven countries may be in violation of their own local privacy law if they sign on to complying with FATCA, a US based law. As a result small institutions abroad may choose not to comply and decide to deny or lock out certain services to Americans living abroad.

Skyscraper (Plant Series)

A Skyscraper is a building that is very tall, habitable building that has more than 40-50 floors. They are mainly constructed for residential, office, and commercial uses. However, I would imagine that in the future, in cities, some skyscrapers would be industrial housing many factories due to the extreme cost of land. The term skyscraper can be confused with highrise. However, the term skyscraper  usually refer to a building taller than 500ft, skyscrapers over 0.4 miles are referred to as Megatall. Some common features include having a steel framework that supports curtain walls which are non-load bearing walls. These walls have a nonstructural advantage and only keep weather out and occupants in, this technique reduces costs. Another advantage is that glass versions allow natural light to penetrate deep into the building. Also, they transfer forces such as winds to the main structure. Early skyscrapers had a steel frame which allows load bearing walls, taller than ones made of reinforced concrete. In addition, Modern Skyscrapers resemble a tubular areodynamic structure. This diverts loads such as winds and seismic activity from damaging the structure.

Cogeneration Plant (Plant Series)

Cogeneration plants are power stations that use a heat engine to generate electricity and useful heat simultaneously. It is a thermodynamically efficient process of extracting energy from fuel. All thermal power plants use a fuel to heat up water to create steam that powers steam turbines which powers generators. However, there is waste energy such as wasted steam, thermal energy, which usually gets emitted into the atmosphere via cooling tower. However, in a cogeneration facility, they use the wasted heat and steam to heat up water, and cool buildings. In iceland they use geothermal energy from geysers to heat up water in heat exchangers which gets piped to cities and towns. Types of cogeneration plants include gas turbine, gas engine, biofuel engine, combined cycle, steam turbine, nuclear, and Molten carbonate fuel cells.

Enviromental impact of Reservoirs

As the Global demand for water and energy increases, reservoir development and population are increasing at the cost of the sustainability of the wildlife, lakes,rivers, and forests. Dams and reservoirs are used to supply humans with drinking water, farming, and  hydroelectricity. However, sociological and environmental affects have been generated due to the construction of dams and reservoirs. For example, the fragmentation of river ecosystems, erosion, relocation of indigenous peoples, and greenhouse gases are some of the consequences. Greenhouse gases have the potential to be emitted due to flooding which may flood forest, which plant life cannot adapt to , thus they die and biodegrade emitting greenhouse gases.  In addition, they can block the migration of salmon and other species of aquatic life.

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