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Archive for the ‘ENERGY’ Category

GOVT BOOKS P21.3B FROM REFINERY SALE (Philippines)

Posted by Gilmour Poincaree on January 7, 2009

Tuesday, January 6, 2009

by Lawrence Agcaoili

PUBLISHED BY ‘THE MANILA STANDARD TODAY’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA STANDARD TODAY’ (Philippines)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FUELS, GASOLINE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

PROGRESS ENERGY TO BUILD 2 REACTORS IN FLA. (USA)

Posted by Gilmour Poincaree on January 7, 2009

Tue, Jan. 06, 2009 – 12:30AM

by John Murawski – Staff Writer

PUBLISHED BY ‘THE NEWS OBSERVER’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS OBSERVER’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NUCLEAR ENERGY, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

TYCOON SET ON SELF-IMMOLATION IF LOAD-SHEDDING PERSISTS (Pakistan)

Posted by Gilmour Poincaree on January 3, 2009

Saturday, January 03, 2009

by our correspondent

PUBLISHED BY ‘THE NEWS’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS’ (Pakistan)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EMPLOYMENT, ENERGY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, GARMENT INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, PAKISTAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, RESTRUCTURING OF THE PUBLIC SECTOR, TEXTILE INDUSTRIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES | Leave a Comment »

RENEWABLE ENERGY FIRM AWARDED 3 DEALS (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

Saturday, January 3, 2009

by Myrna M. Velasco

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

Posted in BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PHILIPPINES, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

OILEXCO SHARES DOWN 75% ON U.K. WOES

Posted by Gilmour Poincaree on January 2, 2009

Wednesday, December 31, 2008

Financial Post – With files from wires

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, STOCK MARKETS, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

NATIONAL POWER CORPORATION (NPC) BIDS OUT P33.6-B WORTH OF FUEL

Posted by Gilmour Poincaree on January 2, 2009

Friday, January 2, 2009

by Myrna M. Velasco

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FUELS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

COMPANHIA RUSSA CORTA TOTALMENTE FORNECIMENTO DE GÁS À UCRÂNIA – KIEV AMEAÇOU CONFISCAR O COMBUSTÍVEL RUSSO QUE PASSA POR SEU TERRITÓRIO (Russia)

Posted by Gilmour Poincaree on January 1, 2009

01/01/2009 – 07h24min

Zero Hora

PUBLISHED BY ‘A NOTÍCIA’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘A NOTÍCIA’ (Brazil)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, UKRAINE | Leave a Comment »

SHAREHOLDERS BACK IMPERIAL ENERGY DEAL

Posted by Gilmour Poincaree on December 31, 2008

31 December 2008, 10:31am

by Rupert Steiner – Daily Mail

PUBLISHED BY ‘THIS IS MONEY’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THIS IS MONEY’ (UK)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PETROL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

NZ AIRLINE JETLINER OPERATES PARTLY ON VEGETABLE OIL – JATROPHA: BOEING AND VIRGIN ATLANTIC CARRIED OUT A SIMILAR TEST FLIGHT THAT INCLUDED A BIOFUEL MIXTURE THAT WAS DISMISSED AS A PUBLICITY STUNT BY ENVIRONMENTALISTS

Posted by Gilmour Poincaree on December 31, 2008

Wednesday, Dec 31, 2008

Associated Press – Wellington

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

Posted in AIR TRANSPORT INDUSTRY, BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, O BIODIESEL, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, VEGETABLE OILS | 1 Comment »

PREMIER SAYS GOVERNMENT WILL HELP AILING INDUSTRIES – LENDING A HAND: LIU CHAO-SHIUAN SAID THE GOVERNMENT WILL ASK COMPANIES TO MAKE PLEDGES OF HIGHER ENERGY EFFICIENCY AND TO SET CAPS FOR CARBON DIOXIDE EMISSIONS (Formosa – Taiwan)

Posted by Gilmour Poincaree on December 31, 2008

Wednesday, Dec 31, 2008

by Shih HsIu-chuan – Staff Reporter

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FORMOSA - TAIWAN, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

PETROALGAE RAISES $10 MILLION IN COMMON STOCK OFFERING (Australia)

Posted by Gilmour Poincaree on December 31, 2008

12/29/2008 3:44:07 PM GMT

Energy Current

PUBLISHED BY ‘ENERGY CURRENT’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PETROL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

CNOOC TO SET UP NEW ENERGY BASE IN TIANJIN (China)

Posted by Gilmour Poincaree on December 31, 2008

12/30/2008 10:52:24 AM GMT

Energy Current

PUBLISHED BY ‘ENERGY CURRENT’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ENERGY CURRENT’

Posted in CHINA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

SUZLON ACQUIRES FIRST TRANCHE OF MARTIFER’S STAKE IN REPOWER (India)

Posted by Gilmour Poincaree on December 31, 2008

30 Dec, 2008, 13:31 hrs IST

ET Bureau

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AEOLIC, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GERMANY, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, PORTUGAL, STAGFLATION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

ASIAN MARKETS GAIN, LED BY HIGHER ENERGY STOCKS

Posted by Gilmour Poincaree on December 31, 2008

Tue, Dec. 30, 2008

by Stephen Wright – The Associated Press

PUBLISHED BY ‘PHILLY.COM’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘PHILLY.COM’ (USA)

Posted in ASIA, CHINA, COMMERCE, COMMODITIES MARKET, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, NATURAL GAS, PETROL, PHILIPPINES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

VENDA DE ÁLCOOL SUPERA A DE GASOLINA EM 10 MESES (Brazil)

Posted by Gilmour Poincaree on December 30, 2008

30/12/2008

Tribuna do Norte

PUBLISHED BY ‘TRIBUNA DO NORTE’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘TRIBUNA DO NORTE’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BRASIL, COMÉRCIO - BRASIL, COMMERCE, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ETANOL, ETHANOL, FINANCIAL CRISIS 2008/2009, INDÚSTRIAS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, REFINERIES - PETROL/BIOFUELS, THE FLOW OF INVESTMENTS | Leave a Comment »

NRG’S SECOND WIND FARM, ELBOW CREEK, ACHIEVES COMMERCIAL OPERATION – 122 MEGAWATTS OF ZERO-EMISSION WIND POWER ADDED TO TEXAS’ GRID

Posted by Gilmour Poincaree on December 30, 2008

December 29, 2008 08:00 AM Eastern Time

BUSINESS WIRE

PUBLISHED BY ‘THE PITTSBURGH TRIBUNE-REVIEW’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PITTSBURGH TRIBUNE-REVIEW’ (USA)

Posted in AEOLIC, BANKRUPTCIES - USA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

EUROPEAN AND ASIAN STOCKS GAIN, LED BY ENERGY SHARES

Posted by Gilmour Poincaree on December 29, 2008

December 29, 2008

by by Matthew Saltmarsh

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in ASIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

KOREA GETS PRE-APPROVAL FOR ENERGY PLANT IN KAZAKHSTAN

Posted by Gilmour Poincaree on December 27, 2008

Dec.26,2008 12:14 KST

Arirang News

PUBLISHED BY ‘THE CHOSUN ILBO’ (South Korea)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE CHOSUN ILBO’ (South Korea)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, KAZAKHSTAN, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

CAPITALISM FAILED? OR DID WE FAIL CAPITALISM? (wagging a middle finger at us)

Posted by Gilmour Poincaree on December 27, 2008

Dec. 25, 2008 – 6:21PM

by Loren Steffy – Houston Chronicle

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in AL QAEDA, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EMPLOYMENT, ENERGY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, NATIONAL DEBT - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE ISRAELI-PALESTINIAN STRUGGLE, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

WISDOM SERIES: EDWARD SONSHINE WOULD SPEED UP INFRASTRUCTURE SPENDING

Posted by Gilmour Poincaree on December 27, 2008

Wednesday, December 24, 2008

Garry Marr – The Financial Post

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in AGRICULTURE, AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

PHILIPS SHEDS TELEVISIONS FOR HIGH-END LIGHTS, HEALTH CARE

Posted by Gilmour Poincaree on December 27, 2008

December 25, 2008 6:26 p.m. PT

by Eric A. Taub – The New York Times

PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, COMMUNICATION INDUSTRIES, DIGITAL INDUSTRIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, HEALTH CARE, HEALTH CARE - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATIONAL WORK FORCES, NETHERLANDS, OUTSOURCED WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

DBP KEEN ON LOANS FOR RENEWABLE ENERGY (Philippines)

Posted by Gilmour Poincaree on December 27, 2008

Friday, December 26,2008

by Euan Paulo C. Añonuevo

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in AEOLIC, BIOMASS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HYDROELECTRIC ENERGY, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, PHILIPPINES, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

INDONESIA SAYS CHEVRON MAY INVEST $3 BILLION THERE

Posted by Gilmour Poincaree on December 27, 2008

Dec. 26, 2008, 6:05AM

Bloomberg News

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in CHEMICALS (processed components), COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GASOLINE, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATURAL GAS, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRANSPORT INDUSTRIES, USA | Leave a Comment »

HOUSTON’S FMC BUYS STAKE IN CALIF. ROBOTICS FIRM

Posted by Gilmour Poincaree on December 27, 2008

Dec. 26, 2008 – 01:02PM

by Mark Babineck – The Houston Chronicle

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in COMMODITIES MARKET, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

CABINET APPROVES INTEGRATED ENERGY POLICY (India)

Posted by Gilmour Poincaree on December 27, 2008

26 Dec 2008, 15:39 hrs IST

by Souvik Sanyal – ET Bureau

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

OIL UP OVER $37 A BARREL

Posted by Gilmour Poincaree on December 27, 2008

05:29:00 12/27/2008

Philippine Daily Inquirer

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’ (Philippines)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PETROL, RECESSION | Leave a Comment »

CONSÓRCIO RESPONSÁVEL POR HIDRELÉTRICA NO RIO MADEIRA É MULTADO PELO IBAMA – GRUPO FOI CONSIDERADO RESPONSÁVEL PELA MORTE DE 11 TONELADAS DE PEIXES (Brazil)

Posted by Gilmour Poincaree on December 26, 2008

24/12/2008 – 12h45min

Agência Brasil

PUBLISHED BY ‘CANAL RURAL’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CANAL RURAL’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BRASIL, CRIMES AMBIENTAIS - BRASIL, CRIMES EMPRESARIAIS, DEFESA DO MEIO AMBIENTE - BRASIL, DESENVOLVIMENTO SUSTENTÁVEL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, HIDRELÉTRICAS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINISTÉRIO DO MEIO AMBIENTE, O PODER EXECUTIVO FEDERAL, O PODER JUDICIÁRIO, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

COMPANY BEGINS TALKS OVER £52M WIND TURBINE DEAL (Ireland)

Posted by Gilmour Poincaree on December 24, 2008

Monday, 22 December 2008

by Symon Ross

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BELFAST TELEGRAPH’ (Ireland)

Posted in AEOLIC, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, IRELAND, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

UK’S RELIANCE ON GAS CONTINUES TO GROW, AS DOMESTIC FUEL RESERVES DIMINISH (UK)

Posted by Gilmour Poincaree on December 24, 2008

December 24, 2008

by Robin Pagnamenta – Energy and Environment Editor

PUBLISHED BY ‘THE TIMES’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TIMES’ (UK)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

NATURAL GAS IS DROPPING NOW, BUT PUTIN SAYS ERA OF CHEAP GAS OVER

Posted by Gilmour Poincaree on December 23, 2008

December 23, 2008

by Craig Pittman

PUBLISHED BY ‘THE FUEL STATION’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FUEL STATION’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATURAL GAS, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, RUSSIA, THE FLOW OF INVESTMENTS | Leave a Comment »

EMBRAPA DISCUTE BIOCOMBUSTÍVEIS COM O PARAGUAI (Brazil)

Posted by Gilmour Poincaree on December 23, 2008

19/12/2008 às 09:21

Da Redação com Embrapa Agropecuária Oeste

PUBLISHED BY ‘CANAL DA CANA’ (Brazil)

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PUBLISHED BY ‘CANAL DA CANA’ (Brazil)

Posted in BIOCOMBUSTÍVEIS, BIODIESEL, BIOFUELS, BRASIL, DEFESA DO MEIO AMBIENTE - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, ETANOL, ETHANOL, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, O BIODIESEL, PARAGUAY, POLÍTICA EXTERNA - BRASIL, RECESSION, RELAÇÕES DIPLOMÁTICAS - BRASIL, RELAÇÕES INTERNACIONAIS - BRASIL | Leave a Comment »

CDI APROVA INSTALAÇÃO EM MS DE PROJETOS DE R$ 492 MILHÕES EM BIOCOMBUSTÍVEIS (Brazil)

Posted by Gilmour Poincaree on December 23, 2008

19/12/2008 às 09:07

por Anderson Viegas – Da Redação

PUBLISHED BY ‘CANAL DA CANA’ (Brazil)

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PUBLISHED BY ‘CANAL DA CANA’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BIOCOMBUSTÍVEIS, BIODIESEL, BIOFUELS, BRASIL, ECONOMIA - BRASIL, ECONOMY, ENERGY, ENVIRONMENT, ETANOL, ETHANOL, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FLUXO DE CAPITAIS, INTERNATIONAL, O BIODIESEL | Leave a Comment »

BABCOCK & BROWN POWER GETS INDICATIVE TAKEOVER OFFERS – Babcock & Brown Power is reviewing a number of submissions it has received from third parties to acquire the business (Australia)

Posted by Gilmour Poincaree on December 22, 2008

22/12/2008

Bill Lindsay – Dow Jones

PUBLISHED BY ‘THE AUSTRALIAN’

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

CONSELHO DO FGTS APROVA R$ 5 BILHÕES PARA INVESTIMENTOS EM INFRA-ESTRUTURA – Terminal no Porto de Santos e hidrelétrica de Santo Antônio estão entre projetos beneficiados (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

20/12/2008 | 00h02min

CLIC RBS

PUBLISHED BY ‘ZERO HORA’ (Brazil)

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PUBLISHED BY ‘ZERO HORA’ (Brazil)

Posted in A PRESIDÊNCIA, A QUESTÃO ENERGÉTICA, BRASIL, CIDADES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, HIDRELÉTRICAS, INDUSTRIES, INFRAESTRUTURA - BRASIL, INTERNATIONAL, MACROECONOMY, MARÍTIMO, MARITIME, NATIONAL WORK FORCES, O SETOR DOS TRANSPORTES, PORTOS, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, SHIPYARD INDUSTRIES, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

NEWFOUNDLAND SEIZES ASSETS OF ABITIBIBOWATER – Government responds to impending mill closing by ordering forestry giant to surrender timber and water rights, hydro plants

Posted by Gilmour Poincaree on December 20, 2008

December 17, 2008

by Oliver Moore – With reports from Konrad Yakabuski and David Ebner

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

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PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | Leave a Comment »

U.S.$ 78 MILLION ADF LOAN FOR AN ELECTRICITY TRANSMISSION PROJECT (Uganda)

Posted by Gilmour Poincaree on December 19, 2008

16 December 2008

ALL AFRICA

PUBLISHED BY ‘ALL AFRICA’ (Mauritius)

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PUBLISHED BY ‘ALL AFRICA’ (Mauritius)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, RECESSION, THE FLOW OF INVESTMENTS, UGANDA | Leave a Comment »

SETOR DE COMBUSTÍVEIS FECHA 2008 COM RECORDE DE VENDAS (Brazil)

Posted by Gilmour Poincaree on December 18, 2008

Terça-feira, 16 de Dezembro de 2008 13:11

Nielmar de Oliveira – da Agência Brasil

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

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PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in A QUESTÃO ENERGÉTICA, BIODIESEL, BIOFUELS, BRASIL, COMÉRCIO - BRASIL, COMMERCE, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMY, ENERGY, ENERGY INDUSTRIES, ETHANOL, EXPANSÃO ECONÔMICA, FUELS, GASOLINE, INTERNATIONAL | Leave a Comment »

CHATHAM ISLANDS TO HARNESS WIND TO CUT POWER BILLS (New Zealand)

Posted by Gilmour Poincaree on December 17, 2008

9:57AM Wednesday Dec 17, 2008

NZPA

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AEOLIC, AUSTRALIA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

GAZPROM, ROSATOM INK 6-YEAR COOPERATION DEAL (Russia)

Posted by Gilmour Poincaree on December 17, 2008

16.12.2008, Moscow 16:27:24

RosBussinessConsultingPUBLISHED BY ‘RosBussinessConsulting’

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PUBLISHED BY ‘RosBussinessConsulting’

Posted in CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NUCLEAR ENERGY, PETROL, RECESSION, RUSSIA | 1 Comment »

CONERGY, GE TO POUR $250M INTO ASIA-PACIFIC CLEAN POWER

Posted by Gilmour Poincaree on December 17, 2008

December 15, 2008

by David Ehrlich – GigaOm

PUBLISHED BY ‘THE NEW YORK TIMES’

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PUBLISHED BY ‘THE NEW YORK TIMES’

Posted in AEOLIC, ASIA, BIOFUELS, BIOMASS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOLAR, STOCK MARKETS, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

UAE AND US COMPLETE NEGOTIATIONS ON PEACEFUL NUCLEAR ENERGY AGREEMENT

Posted by Gilmour Poincaree on December 16, 2008

December 15, 2008, 12:53

WAM

PUBLISHED BY ‘THE GULF NEWS’ (Dubai)

Washington: The UAE and the United States have completed negotiations on the proposed text for a bilateral cooperation agreement on the peaceful use of nuclear energy, a UAE Foreign Ministry source said.

This “123 Agreement” would allow the transfer of nuclear-related components and materials between the two countries.

“As is normal in these matters, representatives of the US administration and the UAE Government are working closely with members of the Congress to inform them about the agreement and seek their views,” said Yousuf Al Otaiba, UAE ambassador to the US.

“We are confident that the agreement highlights the transparency of the civilian nuclear energy programme the UAE is embarking on and should be lauded as the gold standard of nuclear cooperation agreements,” he said.

“It is the view of the UAE government that the proposed UAE 123 Agreement sets a new standard in ensuring the highest standards of safety, security and non-proliferation within the UAE programme,” he said.

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PUBLISHED BY ‘THE GULF NEWS’ (Dubai)

Posted in BANKING SYSTEMS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NUCLEAR ENERGY, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

AUSTRALIA BRINGS FORWARD A$500 MILLION GREEN ENERGY FUND

Posted by Gilmour Poincaree on December 14, 2008

December 14, 2008

Editing by Anshuman Daga

PUBLISHED BY ‘SCIENTIFIC AMERICAN’

SYDNEY (Reuters) – Australian Prime Minister Kevin Rudd called for a “solar revolution” on Sunday as he unveiled plans to bring forward a A$500 million (US$329 million) fund to promote renewable energy in a bid to stimulate the economy.

Speaking just a day before a key announcement on Australia’s greenhouse gas emissions targets, Rudd said the fund’s timescale would be brought forward from the original six-year plan to the next 18 months.

“It’s good for jobs. It’s good for stimulus. It’s good for acting on climate change,” Rudd said of the move. “It’s time for Australia to begin a solar revolution, a renewable energy revolution and we’ve got to fund it for the future.”

Rudd made the announcement at the Queensland town of Windorah, where a new solar energy plant is expected to produce around 360,000 kilowatt hours of electricity per year and provide the town’s daytime power needs.

The prime minister said A$100 million would be released by June 30 next year, with the remaining A$400 million to be released in the following 12 months.

The only condition, he said in an accompanying statement, was “availability of suitable demonstration projects.” Guidelines would be released early in 2009, the statement said.

The Renewable Energy Fund, which also includes work on biofuels development and geothermal drilling, was set up to help cut the cost of developing technologies that might play a key role in energy supply and security over the next few decades.

The fund was an election commitment by the ruling Labor party in last year’s election, in which Rudd defeated conservative predecessor John Howard. During the campaign Rudd set a target that 20 percent of Australia’s energy should be from renewable sources by 2020.

A key ‘white paper’ policy document is due on Monday setting out Australia’s official targets for emissions cuts and plans for carbon trading. Australia is widely expected to adopt a target of a 10 percent cut from 2000 levels by 2020.

Although Rudd has been applauded by environmentalists for his decision for Australia to join the Kyoto protocol, they also say Canberra’s actions on reducing greenhouse gas emissions have so far been inadequate.

The statement follows a UN climate change conference in Poland, seen as preparation for a major one in Copenhagen next year.

(A$1=US$0.66)

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PUBLISHED BY ‘SCIENTIFIC AMERICAN’

Posted in AGRICULTURE, AUSTRALIA, BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

FINAL PROPOSALS EMERGE TO MODIFY US ENDANGERED SPECIES ACT (USA)

Posted by Gilmour Poincaree on December 14, 2008

December 13 2008

by Nick Snow – Washington Editor

PUBLISHED BY ‘OIL&GAS JOURNAL’

WASHINGTON, DC, Dec. 13 – The US Interior and Commerce departments reported Dec. 11 final proposed changes to the Endangered Species Act, which Interior Secretary Dirk A. Kempthorne said were not as extensive as originally planned.

“The rule strengthens the regulations so the government can focus on protecting endangered species as it strives to rebuild the American economy,” Kempthorne said. “[It] has been revised since it was proposed in August because the public made suggestions we could use to improve it,” he said. The proposed changes are scheduled to appear in the Dec. 12 Federal Register.

“What we are doing is clarifying the threshold for consultation to occur. If science cannot draw a direct causal link between an action and an effect on a listed species, as is currently the case for global processes like climate change, than consultation under the ESA is not necessary,” Kempthorne maintained.

Congressional critics and environmental organizations immediately criticized the proposal. “The Bush administration appears to be determined to use every last minute in office to wreak as much havoc as possible on our nation,” said Edward J. Markey (D-Mass.), chairman of the House Select Committee on Energy Independence and Global Warming. “Today’s announcement that they will be removing fish and wildlife experts from key decisions to protect the safety of iconic animals like the polar bear from global warming’s effects is absurd and a recipe for disaster,” Markey said.

Andrew Wetzler, director of the Natural Resources Defense Council’s endangered species program, commented, “This administration has rejected anything with a whiff of science, so before skulking out the back door they are going after rules that require [US] Fish and Wildlife Service scientists to prevent harm to our last wild animals and places. Despite today’s feel-good statements, we remain convinced that these changes are illegal. We will look at the final language when it is published tomorrow, but I think we will see them in court.”

Scope of exceptions

But Kempthorne noted that federal agencies would be required to follow existing consultation procedures except in specific, limited instances where a proposed action is not expected to have adverse impacts on any member of an ESA-listed species and would satisfy one of the following conditions: It must be wholly beneficial, have no effect on a listed species or its critical habitat, have effects which could not be measured or detected in a manner that permits meaningful evaluation, or it must be the result of global processes that can not be reliably predicted or measured on the scale of the species’ current range.

Agencies still would be able to voluntarily engage in the consultation process, the secretary emphasized. He said the final proposed regulations contain fewer opportunities for agencies to proceed without consultation than what was originally envisioned.

Nothing in the proposals requires that a federal agency bypass consultation, nor does it preclude any federal agency from seeking the expertise of the Fish and Wildlife Service and the National Marine Fisheries Service or from taking advantage of expertise that may be available from state and local agencies, universities, nongovernment organizations, or other sources, according to Kempthorne.

Any federal agency may avail itself of expertise offered by FWS and NMFS in exactly the same manner as under current regulations if it determines it has any limitations to make determinations under the ESA or believes that it does not have the scientific expertise to make an accurate assessment of a project’s impacts on listed species and critical habitat, he said.

Moreover, nothing in the proposals relieves an agency of its responsibilities to ensure that listed species are not harmed during completion of a federal action, regardless of whether consultation occurs or not, Kempthorne said. In cases where an action agency determines that consultation is not required and harm to a listed species results, full civil and criminal penalties, as laid out by other sections of the ESA, remain in effect, he indicated.

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Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

WEATHERING THE STORM – Syrians are quickly realising that the impact of the global financial crisis will be larger than first thought. In an age of globalisation, no country is an island

Posted by Gilmour Poincaree on December 13, 2008

Issue: December 2008

by Brooke Anderson

PUBLISHED BY ‘SYRIA TODAY’

Despite government assurances that their country will weather the storm engulfing markets around the world, Syrians are quickly realising that in the 21st century, no country is immune from a global economic meltdown.

“No country can say it’s unaffected,” Samira al-Masalmeh, managing editor of local affairs at the independent Syrian daily newspaper Al-Watan and the economic weekly Al-Iqtissadiya, said. “It’s true, we don’t have direct economic relations with the United States, but the crisis is affecting Europe. We work with Europe and Asia, so there is an indirect effect on Syria.”

Syria will, however, weather the storm better than most countries, Masalmeh said. “For the most part, 70 percent of investment in Syria is from inside the country,” she said. “Syria has a strong and diversified internal economy that doesn’t depend on oil. We don’t have a stock market.”

The global financial crisis, which originated in the US banking system, hits Syria at a time when the country is opening up its economy after more than 40 years of socialist rule. Many in Syria now believe the country needs to quickly learn the lessons emerging from more developed economies now battling recession. “I hope Syria will learn a lesson from America and it will put into place better laws protecting investment,” Masalmeh said.

Far from the epicentre

To date, the Syrian government has taken a cautious view of the crisis. “The Syrian economy is stable and solid and the Syrian pound is strong and protected,” Deputy Prime Minister for Economic Affairs Abdullah al-Dardari said in October. “Syria has an independent banking system. In addition, the Syrian pound has a higher interest rate than other currencies.”

Dardari also said deposits in Syrian banks have increased since the beginning of the crisis because of the stability of the local banking sector. “The government is working day and night for the stability of the economy and to serve the nation and the citizen,” he said, adding there is “no reason at all to be scared or worried”.

Likewise, Syrian Minister of Finance Muhammad al-Hussein has emphasised the limited impact the global financial crisis will have on Syria. “The worldwide financial crisis could have an effect on Syria, but the government- is working with President Bashar al-Assad to make sure the effect is limited,” Hussein told the state daily newspaper Al-Thawra. He said Syria was “far away from the epicentre of the earthquake”.

Indirect impact

One government official striking a different note is Duraid Dargham, head of the government-run Commercial Bank of Syria, the country’s largest bank. In a full-page article published in the Tishreen newspaper in early October, Dargham said the danger posed to Syria by the global financial crisis was real and significant. “The economic crisis will have a big effect on Syria,” he wrote.

Dargham said Syria’s economy would take two main hits. The first will come in a decline in both the price and global demand for oil. Since the crisis erupted, the price of oil has fallen from a record SYP 6,510 (USD 140) per barrel to around SYP 2,557 (USD 55) a barrel and the slide is expected to continue. It’s a drop which could now make growth estimates for 2009 optimistic and will further widen the country’s budget deficit, a fact Hussein pointed out at a recent banking conference.

The second blow will come from remittances from Syrians living abroad who now number a massive 18m; Syria’s internal population is little more than 19m. On average, Syrian expatriates, many of whom earn high wages in the Gulf, inject SYP 37.2bn (USD 800m) annually in remittances into the Syrian economy. With many parts of the world entering recession and unemployment rising, this stream of foreign funds is expected to slow.

Jihad Yazigi, editor of the English-language economic newsletter The Syria Report, said Syria’s links to the Gulf markets make it vulnerable to the ongoing global economic turmoil. “A lot of money comes [to Syria] from the Gulf,” he said. “Some Syrians could be made redundant in the Gulf so we could see a slower pace of remittances and that could lead to more unemployment here.”

Yazigi also points to the possibility of foreign direct investment flows slowing over the next year. Rather than the dramatic blows being landed on the world’s leading economies like the US and Japan, Yazigi said the impact on Syria would come incrementally. “We haven’t seen anything yet, because the impact is indirect,” he said. “It won’t be as dramatic as the price of stocks. It will be an interesting sign if we see the delay of one to two big Gulf investments in Syria. Investors have to prioritise when they want to invest and Syria is not a priority for them. We haven’t felt it yet, but we will. It won’t be a big impact, but there will be an impact.”

Masalmeh points to tourism, an increasingly important money spinner in Syria, as another area likely to be negatively impacted as people around the world tighten their spending habits and cancel overseas holiday plans. “The crisis will affect tourism because there’ll be less money to spend,” she said. “If there’s no money, there’s no tourism.”

Feeling the squeeze

One Syrian company is already seeing the impact of the global financial crisis firsthand. At Muhanna for Sweets, a Damascus-based family sweets business founded in 1935, chief executive officer Mahmoud Muhanna said the global financial crisis could not come at a worse time. The company is already battling the impact of a cut in fuel subsidies which has seen the price of raw materials rise. As a result, the company has had to increase the prices of its goods – 30 to 40 percent for some sweets and 100 percent for others – at a time when foreign buyers in America and Europe are looking to save money. “All of the prices of raw materials – sugar, fat, and pistachios – have increased,” Muhanna said.

Three years ago, exports made up 40 percent of all sales at Muhanna for Sweets. Now they account for just 25 percent of business. Twenty-five percent of total exports go to the US, 5 to 10 percent go to the Gulf, while the rest go to Europe.

Muhanna does not expect any growth in his exports to US and European markets in the short term. As such the Gulf and local market will become all the more important. He said his company has been helped by the steady flow of tourists in the past several years, business travellers from the Gulf and the opening of new hotels such as the Four Seasons. But it’s a customer base that might not be so reliable in the coming months, he admits.

To counter a decline in exports, Muhanna is already thinking of a plan B: creating a line of less expensive sweets. Still, he doesn’t appear to be too worried about the financial turmoil creating a crisis in sweets consumption. “No matter what happens, people always buy Arab sweets,” he said.

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PUBLISHED BY ‘SYRIA TODAY’

Posted in ASIA, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FOREIGN POLICIES - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, ISLAMIC BANKS, JAPAN, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE ARABIAN PENINSULA, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TOURISM INDUSTRIES, USA | Leave a Comment »

FIRST GAS DISCOVERY IN MOROCCO

Posted by Gilmour Poincaree on December 13, 2008

11-10-2008

PUBLISHED BY ‘THE NORTH AFRICA JOURNAL’ (Boston, MA, USA)

UK-based independent hydrocarbons exploration firm Circle Oil Plc confirms that it has found natural Britain’s Isle of Grain Liquefied Natural Gas terminal has received its first gas shipment after a substantial upgrade programme designed to increase handling capacity to 8.6 Bcm per year - 26-11-2008gas in the north-east of the Moroccan capital Rabat. The finding is important in that Morocco has long been hoping to find hydrocarbons and past discoveries turned into failed ventures and bad PR disasters.

This time, the news is more solid. Circle says the gas was found on well ONZ6 in the Ouled N’Zala Permit. The Company confirms a discovery in the Upper Ouled Formation with the well testing gas at a sustained rate of 3.32 MMscfd. The well has been completed as a potential producer and the drilling rig has now moved to the Sebou permit to start drilling the second location of the six well drilling program planned for the two permits.

A full technical evaluation of all the results is underway which will allow for forward planning as a precursor to further assessment of the resource including conducting an extended well test. A full assessment of reserves has not yet been completed.

The Ouled N’Zala Permit lies north-east of Rabat in the Rharb Basin, Morocco. The Rharb Basin is a foredeep Basin located in the external zone of the Rif Folded belt. The concession agreement includes the right of conversion to a production license of 30 years, plus extensions, in the event of commercial discoveries. Circle holds a 75% interest in the Sebou permit.

The work in Morocco is being undertaken by Circle Oil Maroc Ltd (COML), a wholly owned subsidiary of Circle Oil plc, which was signed an Exploration and Exploitation Agreement with ONHYM (Office National des Hydrocarbures et des Mines) for the Sebou Concession (296 km2), situated in the Rharb Basin, Morocco. The Exploration Agreement is for a total period of 8 years with the right of automatic conversion to a minimum (but extendable) 25 year Exploitation period.

The Sebou Permit has previously been owned, explored and exploited by ONHYM. In the partnership the shareholding is COML 75% and ONHYM 25%. The Rharb Basin is highly prospective and has a historic natural gas production of almost one billion MM3. 2D seismic and well calibration is available and ONHYM have extensive knowledge of the area. Small scale Gas production within the Rharb is presently from four wells.

The permit has considerable potential for the exploration and development of more natural gas and exploitation would be by a series of low cost wells/producers each producing from 20-80MM3 of gas. The produced gas will be sold to local industry at locally agreed commercial rates. If successful, the development will allow COML to achieve production in a relatively short time scale and provide a long term continuing earnings contribution to COML.

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PUBLISHED BY ‘THE NORTH AFRICA JOURNAL’ (Boston, MA, USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MOROCCO, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

CONCRETE MASONERS PUT THEIR CASE (South Africa)

Posted by Gilmour Poincaree on December 13, 2008

11 Dec 2008

PUBLISHED BY ‘THE BUSINESS NEWS’ (South Africa)

THE claims regarding environmental issues relating to products and services are often misleading because the subject is a complex matter that is fraught with misinformation and half truths. The claims often only select snippets of information, and the attributes often have no real impact on the environmental issues at large, says Bob Low of Inca, talking on behalf of concrete masoners.

It is therefore key to any discussion relating to environmental issues, to ask the right questions, namely:

– What environmental issues are being addressed? (e.g. global warming, energy, biodiversity, water scarcity etc).

– Are the claims material to environmental issues at large?

– Is the entire ‘cradle to grave’ life cycle (i.e. manufacturing, operational life and end of life) taken into account?

The main concern with environmental issues today relate to global warming, which is directly proportional to the amount of carbon dioxide emitted into the atmosphere. Over 90% of CO2emissions in South Africa are produced in the burning of fossil fuels to produce energy. It is therefore safe to assume that the energy employed during the entire life cycle of the product has a direct impact on global warming issues.

It is estimated that South Africa produces 3.5 billion bricks per annum which equates to 1.6 million tons of CO2 per annum. To put this into context, brick production has the equivalent global warming contribution as the annual emissions from 360 000 average sized sedan cars.

Bricks also constitute approximately 30-60% of a buildings total embodied energy. The global warming effect from masonry products is therefore substantial and material to the environmental issues at large.

One has to analyse the carbon footprint of masonry holistically. The energy employed in the manufacturing of the product (i.e. embodied energy), the energy efficiency of a building built with different masonry materials (i.e. operational energy), and the energy savings resulting from recycling all have be taken into account, before a fair judgment can be made about a products complete environmental impact, Low says.

Embodied energy refers to the amount of energy required to produce the product. Clay and concrete bricks (also called cement bricks in the industry) both employ energy intensive processes. The main contributor of the carbon footprint in clay bricks is in the firing process. Clay is fired in kilns at 1000°C for 2 – 3 days.

The main contributor of embodied energy in concrete is cement. Cement only comprises 10% of a concrete brick. Cement is produced by heating limestone and other materials at 1450°C for 30 minutes. It therefore stands to reason that concrete bricks employ substantially less energy to produce than clay bricks. International and local research concur that the embodied energy of clay products are 2.5MJ / kg whilst concrete bricks are 0.95MJ / kg, according to Low.

The operational life refers to the energy utilized in the life time of the building to heat and cool the ambient temperatures. Clay and concrete have marginally different thermal properties. Concrete generally has a higher thermal capacity (i.e. ability to store heat), which enables the product to store heat at night and release this stored heat during the day. Clay has however better thermal resistance properties making it a better insulating material. Clay and concrete therefore effect the energy utilization of a building differently in different climatic conditions.

“This is however a nebulous comparison as studies show that the choice of masonry has a marginal effect of a buildings energy utilization as more than 80% of heat is transferred via windows, doors and ceilings,” says Low.

He points out that all concrete is 100% recyclable and makes an excellent aggregate to produce other concrete bricks. Clay bricks can be recycled to form sub-base materials in the construction industry. The recycling process ultimately reduces the total embodied energy by only 0.08 MJ / kg (i.e. 8%) which has a marginal effect on the cradle to grave total carbon footprint of clay and concrete masonry.

Low says the correct choice of masonry products will have a massive impact on green house emissions and energy consumption. Embodied energy, the only differential between masonry products, is the most critical and important factor in the entire life cycle of masonry in a building and can account for up to 60% of a buildings embodied energy. Masonry has little impact on the energy utilization during the life of a building and all masonry materials can be recycled effectively.

Concrete has a carbon footprint 2.5 times less than an equivalent clay brick, and the choice of concrete can therefore reduce the carbon emissions of a mid size residential dwelling by 30 tons, which is equivalent to a cars emissions for 7 years. The choice of masonry material is the easiest and most cost effective manner to substantially reduce a buildings carbon footprint, says Low.

FROM SCRATCH NEWSWIRE EDITORIAL BOARD – We would like to highlight the fact that the author of the above text simply did not mention all the mining procedures as to what concerns cement production.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BUSINESS NEWS’ (South Africa)

Posted in CEMENT, CHEMICALS (processed components), COAL, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, RECESSION, RECYCLING INDUSTRIES, SOUTH AFRICA, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

INDONESIA’S PERTAMINA EYES VERENEX LIBYA OIL FIND

Posted by Gilmour Poincaree on December 13, 2008

11/12/2008 15:33:00

PUBLISHED BY ‘THE TRIPOLI POST’ (Lybia)

Indonesia’s state oil firm, Pertamina, would like to participate in the Libyan oil area of Canadian energy company Verenex , a senior company executive said on Monday.

Pertamina has said it wants to expand its upstream activities and to participate in several potential oil and gas projects both at home and abroad to boost its reserves.

“We are interested in buying a stake in Verenex area 47 in Libya. We plan to see the data of the area,” Karen Agustiawan, Pertamina’s upstream director, told Reuters by telephone.

Verenex and partner PT Medco Energi Internasional have a 13.7 percent interest in a production sharing agreement with Libya’s National Oil Corporation, which holds the remaining share.

In October, Verenex made a new oil discovery in Libya in wildcat exploration well C1-47/02a, 180 km southwest of the capital Tripoli, NOC said in a statement on its website.

The flow was through a choke size of 32/64ths of an inch, with oil flowing at 1,739 barrels per day from a depth of 8,312 feet.

Pertamina already has two areas in Libya, 17 and 123 in Sirte, which are still at the exploration stage.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TRIPOLI POST’ (Lybia)

Posted in BANKING SYSTEMS, CANADA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, LYBIA, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

INNOVATION IS KEY (Iceland)

Posted by Gilmour Poincaree on December 12, 2008

12/12/2008 – 11:00

ESA

PUBLISHED BY ‘ICELAND REVIEW’

Last week I wrote that if I were the boss of Iceland I would bet my money, or rather the nation’s money, on innovation rather than large-scale labor-intensive industries, such as aluminum smelting, which some people seem to think is the solution to all of our problems—never mind the fact that the world market price of aluminum is plummeting.

However, there are plenty of creative, ambitious and hard-working Icelanders out there who share my opinion that it would be a mistake to rely too heavily on only a few industries. They would rather see Iceland become a platform for a host of companies of different genres and they are working towards making that happen. Like me, they believe innovation is key to the reconstruction of Iceland’s economy.

Such companies are known as sprotafyrirtaeki in Icelandic, literally “sprout companies,” but more commonly referred to as start-ups or starters. The term is not new in Iceland and has become somewhat of a fad in recent years.

Business magazine Frjáls verslun published a list of 100 starters to watch right before the collapse of the economy, and shortly thereafter Björk stepped forward and presented innovative companies she had been working with.

So the problem is not that we don’t have innovation, the problem lies with the government, which doesn’t seem to realize the potential in start-ups. Instead of giving young and promising companies the support they need to thrive, which with time can become valuable sources of income for the economy as a whole, the government searches for easy short-term solutions. Or so it seems.

The Icelandic media is stepping up by reporting on initiatives aimed at encouraging innovation and there appears to be a lot going on in that field.

The Iceland Academy of the Arts, Reykjavík University and Bifröst University are cooperating on three projects aimed at encouraging innovation and education, among them an interactive online starter development center entitled “I Am Innovation” where people will be able to share their business ideas and seek partners.

There are also umbrella organizations for innovation, such as Klak Innovation Center, whose purpose it is to enhance the growth of start-up IT companies.

I wanted to find out if and to what extent the government is supporting Klak’s important initiative and asked the innovation center’s CEO Eythór Ívar Jónsson, who is also an associate professor in entrepreneurship at Copenhagen Business School.

Jónsson said the government’s support to Klak has not been at all sufficient. He explained that although Klak and the companies supported by the center operate within the private sector, it is important to receive funding from the government for the first three years of their existence, often referred to as “death valley.”

During the first three years companies are spending but not earning money and during that period investors avoid them like the plague. During that period many promising companies give up, in many cases because of lack of funds. Therefore the government should step in.

Such support is not thought of as charity. Jónsson explained that the government has to adopt a different attitude towards innovation and realize that investing in starters is beneficial for the national economy.

Many of these companies (it is too optimistic to believe that every company will survive) will flourish and deliver profits for the state treasury. It will take time, though, five to ten years, and the government wants to see money flowing in right now.

For this reason the government was reluctant to support innovation before the crisis hit and now there is no money. Or is there? It is all a question of prioritizing, Jónsson stated.

Had he really made an effort talking to the appropriate ministries, I wondered. At that, Jónsson laughed, saying that he had spent eight months arguing with the Ministry of Industry. People seem positive and eager but then nothing happens. However, Jónsson is hopeful that Minister of Industry Össur Skarphédinsson will soon start lobbying for innovation for real.

After all, the Ministry of Industry does operate the Innovation Center Iceland which recently launched Torgid, “The Square,” a trade center offering facilities to young promising companies to work on their business ideas. Thirteen companies are operating there already.

Skarphédinsson himself discusses Torgid on his blog while referring to himself as the “Minister for Sprout Affairs,” describing how his ministry has been flooded lately with innovative ideas from people who are determined to turn this crisis around and transform it into a business opportunity.

“That’s how adversity often creates new opportunities that didn’t exist before and creates an environment which enforces and fabricates new business opportunities in the form of mini sprouts,” the minister writes. “We don’t mess around in the Ministry of Industry. If we see a good idea we’ll make it happen in an instant.”

So is this a sign that times are about to change? I certainly hope so.

In my last column I wondered whether any Icelanders would respond. Many foreign readers did and had some excellent ideas at that, but not a single native.

That leads me to conclude that despite the fact that icelandreview.com is among the 20 most popular websites in Iceland, week after week, after Eve Online the most popular English-language Icelandic website and a regular source of information for foreign media outlets, it goes unnoticed by most Icelanders.

Therefore, I’m going to bring the website, and this particular column, to the attention of the “Minister for Sprout Affairs,” and see whether he would like to contribute to the discussion on the international platform that this website represents.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ICELAND REVIEW’

Posted in ALUMINUM, BANKING SYSTEMS, CENTRAL BANKS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, ICELAND, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, METALS, METALS INDUSTRY, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

ICELAND INCREASES TARIFFS ON WINE, TOBACCO AND OIL

Posted by Gilmour Poincaree on December 12, 2008

12/12/2008 – 11:59

PUBLISHED BY ‘ICELAND REVIEW’

Iceland’s Althingi parliament accepted new laws yesterday on increasing the tariffs on alcohol, tobacco, oil and automobiles by 12.5 percent as well as introducing a tax on driven kilometers and an excise tax on vehicles and fuel.

According to the budget bill, the aforementioned tariffs were going to increase by 11.5 percent next year, but now the increase is 12.5 percent and takes effect already today. The state treasury will as a consequence have an additional income of more than ISK 3.5 billion (USD 30 million, EUR 23 million) in 2009, Morgunbladid reports.

The State Alcohol and Tobacco Company of Iceland (ÁTVR) said the price of tobacco will increase immediately, but it will take some time before the price of alcoholic beverages increases.

Minister of Finance Árni M. Mathiesen said at Althingi yesterday that the state tariffs on these products had depreciated with the development of the consumer price index and that the current increase is meant to counter that development.

Minister for Foreign Affairs Ingibjörg Sólrún Gísladóttir explained that the purpose with the new laws is to protect those who have the lowest wages. Child benefits and interest relief will remain unchanged, she said, and personal exemption will increase by ISK 2,000 (USD 17.25, EUR 12.99) next year, Fréttabladid reports.

However, the tariffs will also influence indexation and increase loans. “It is obvious that this will go straight into our loans. It is a very controversial path to take because it will also have an impact on the highly indebted state treasury, no less than households. I doubt that the state treasury will benefit from this in the end,” President of the Confederation of Labor (ASÍ) Gylfi Arnbjörnsson told Morgunbladid.

Runólfur Ólafsson, managing director of the Icelandic Automobile Association (FÍB), is equally critical of the new laws; expenses for average-sized cars will increase by ISK 20,000 (USD 172, EUR 130) per year because of them.

The price of gasoline and diesel oil will also increase considerably, by ISK 7.70 and 6.40 (USD 0.07 and 0.06, EUR 0.05 and 0.04) per liter respectively, and Ólafsson said it is not good at all that the state is going to take advantage of the recent decrease in the price of fuel in such a way.

Arnbjörnsson told Fréttabladid that the government only plans to increase benefits to senior citizens and the disabled by 9.6 percent, but not in consistency with indexation. The benefits of these groups are indexed and should thus increase every month, he said.

“They are planning to take four billions [ISK 4 billion = USD 34 million, EUR 26 million] from the poorest people. It is so incredibly unjust that we cannot agree to it,” Arnbjörnsson said.

Minister for Social Affairs Jóhanna Sigurdardóttir said Arnbjörnsson is wrong in his assumptions.

“We added two billions to the social security system compared to what was estimated in the budget bill. Next year pension benefits will be higher than ever compared to the lowest salaries of ASÍ,” Sigurdardóttir explained.

Click here to read about other recent measures taken by the government.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ICELAND REVIEW’

Posted in ALCOHOLIC BEVERAGES, AUTOMOTIVE INDUSTRY, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FUELS, GASOLINE, ICELAND, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, RECESSION, STATE TARIFFS, THE WORK MARKET, THE WORKERS, TOBACCO | Leave a Comment »

EU AGREES $260BN ECONOMY PLAN

Posted by Gilmour Poincaree on December 12, 2008

Friday, December 12, 2008 15:17 Mecca time, 12:17 GMT

PUBLISHED BY ‘AL JAZEERA’ (Qatar)

European Union leaders have agreed a $260bn stimulus package designed to dig the continent’s troubled economies out of recession.

The deal, which see each EU French President Nicolas Sarkozy, right, shares a word with German Chancellor Angela Merkel during a round table meeting at an EU summit in Brussels, Friday Dec. 12, 2008. European Union leaders continue their two days of talks aimed at sealing a final accord on their climate change package to cut emissions by 20 percent by 2020member invest on average the equivalent of 1.5 per cent of gross domestic product (GDP) into their economies in order to temper the impact of a global recession, was reached on Friday at a two-day summit in the Belgian capital Brussels.

“What Europe has proved unanimously today is that it is ready to act in a united way to deal with the global downturn,” Gordon Brown, Britain’s prime minister, said.

“We will continue to reject the do-nothing approach and we will not stand by and let the recession take its course.”

Ahead of the summit, Germany had expressed reservations about ploughing so much public money into the economy and resisted pressure to contribute more than what it judged necessary to revive the German economy again.

Officials revised earlier versions of the conclusions to say the package should be worth “about” 1.5 per cent of GDP rather than “at least” 1.5 per cent as seen in an earlier draft.

Climate change

After securing an agreement in the morning for Ireland to submit a stalled EU reform treaty to a second referendum next year, the 27 leaders were also hoping to reach more common ground on climate change as the day progressed.

Copies of a draft agreement indicated the leaders should commit themselves to warding off the threat of a “recessionary spiral” with the stimulus package and an ambitious climate package.

“In these exceptional circumstances, Europe will act in a united, strong, rapid and decisive manner to avoid a recessionary spiral and sustain economic activity and employment,” the draft conclusion said.

“It will mobilise all the instruments available to it and act in a concerted manner to maximise the effect of the measures taken by the [European] Union and by each member state.”

The EU’s climate-energy package, the “20-20-20” deal, seeks to decrease greenhouse gas emissions by 20 per cent by 2020, make 20 per cent energy savings and bring renewable energy sources up to 20 per cent of total energy use.

Angela Merkel, the German chancellor, said: “The member states still have essential negotiations but I am cautiously optimistic that good conclusions can be reached here and send an important signal” to an international climate conference in Copehagen next December.

Under Ireland’s referendum deal, a new referendum will be held by November 2009 on the controversial treaty in exchange for guarantees on key issues including an assurance that it does not lose its EU commissioner.

Irish voters rejected the treaty, designed to streamline EU decision-making and institutions, at a first referendum in June.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘AL JAZEERA’ (Qatar)

Posted in AEOLIC, BANKING SYSTEMS, BELGIUM, BIOFUELS, BIOMASS, CENTRAL BANKS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, EUROPE, EUROPEAN CENTRAL BANK, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FRANCE, GERMANY, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRELAND, NATURAL GAS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOLAR, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »

EU EDGES CLOSER TO CLIMATE, STIMULUS DEALS – ITALY, POLAND SEE EU CLIMATE DEAL IN OFFING

Posted by Gilmour Poincaree on December 12, 2008

December 12, 2008

by Jan Strupczewski and Pete Harrison – Reuters

PUBLISHED BY ‘THE FINANCIAL MIRROR’

European leaders moved towards agreement on Friday on a multi-billion dollar plan to tackle the global recession and a climate change plan amended to limit impact on struggling industries.

Green groups warned that the European Union could forfeit its credibility as a force in tackling climate change if it accepted too many changes to a plan to cut carbon dioxide emissions by 20 percent by 2020.

One British group said compromises in climate policy, which will be key to world talks next year to produce a successor to the Kyoto pact on climate change, could amount to a ‘meltdown’.

The climate discussions took on a special significance, taking place some six weeks before Barack Obama takes over the U.S. presidency holding out the prospect of closer co-operation in matters of global warming.

Italian Prime Minister Silvio Berlusconi, who had threatened to veto a deal without concessions to protect key industries, emerged from the first day of a two-day summit, declaring: “We are heading towards a compromise…We are getting what we want.”

Poland, which had demanded concessions on its heavily polluting coal-based power industry, was also cautiously optimistic.

“The prime minister (Donald Tusk) achieved everything he wanted in negotiations on the climate package,” an official told Reuters. “The deal is flexible, allowing for the modernisation of the Polish power sector.”

HISTORIC?

The economic crisis sweeping Europe has further complicated climate talks that had already raised tensions in a 27-member bloc embracing former Soviet bloc states besides western Europe.

German Chancellor Angela Merkel, who opposes the heavy spending advocated by Britain and France for fear it could lead to escalating budget deficits, said at the start of the summit she was nonetheless keen to seal a 200 billion euro ($260 billion) stimulus package, amounting to some 1.5 percent of GDP.

Luxembourg Prime Minister Jean-Claude Juncker said on Thursday evening he thought EU leaders would agree on the main lines of the economic package and the climate deal on Friday.

“The economic crisis will pass, the climate crisis will stay. We have to do something,” he told reporters.

Finnish Foreign Minister Alexander Stubb said Friday would bring a ‘historic decision’ on energy and climate change.

‘Europe is going to show the way,’ he said.

Several leaders stressed the need to maintain the EU’s ambitious targets; but Merkel, seeking to limit damage to industry, appeared to have secured compromises.

Steel, cement, chemicals, paper and other industries will be sheltered from the added cost of buying permits to emit carbon dioxide from the EU’s flagship emissions trading scheme (ETS), according to a draft text that formed the basis for talks.

“This covers about 90 percent of industry, and I don’t see any reason why Germany would not accept this proposal,” German conservative Peter Liese told Reuters. “I see it as a victory.”

British Green group member Caroline Lucas said the proposals represented ‘the lowest possible common denominator’.

‘The eyes of the world are on the EU. The EU’s credibility as a leading actor on climate change is in freefall. It’s not too late for heads of state and government to intervene and save face.’

EASE THE SHOCK

In their first session of the summit, leaders agreed in principle on a set of concessions to Ireland enabling Dublin to hold a second referendum by next November on the Lisbon treaty, intended to streamline EU decision making. The treaty was rejected at a first poll and needs approval from all states.

“There was no opposition, there was no objection, there was no veto,” one European official said. Another stressed that the agreement was only provisional and there would be talks on the details of the arrangements on Friday.

The Lisbon Treaty — successor to the defunct EU constitution — aims to give the bloc more weight in the world by creating a long-term president and its own foreign policy supremo.

EU leaders aim to agree how to reach targets of slashing carbon emissions by 20 percent by 2020 and winning 20 percent of the bloc’s energy from renewable sources such as wind and solar power by that date, ahead of global talks next year on a successor to the Kyoto agreement from 2012.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL MIRROR’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, EUROPE, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, ITALY, MACROECONOMY, PAPER INDUSTRIES, POLAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS | 1 Comment »

VIETNAM LOWERS GASOLINE PRICES BY 8 PERCENT AMID DECLINING WORLD OIL PRICE

Posted by Gilmour Poincaree on December 12, 2008

December 10, 2008 – 2:57 AM

Associated Press

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

HANOI, Vietnam – Vietnam has lowered gasoline prices by 8 percent as world oil prices hover around $43 a barrel.

The government said Wednesday that effective immediately, the price of gasoline was cut to 11,000 dong (65 cents) per liter. The government also raised import tax from 35 percent to 40 percent.

The government has cut gasoline prices 10 times since they reached a high of 19,000 dong ($1.1) in July when world oil prices hit a record high of nearly $150 a barrel.

Light, sweet crude for January delivery was up 91 cents to $42.98 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore as investors looked to an expected OPEC production cut next week to help stabilize prices that have plummeted amid a global economic slowdown.

Vietnam exports about 16 million tons of crude oil each year but has to import all refined oil products. The country’s first oil refinery is scheduled to open early next year.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, GASOLINE, INDUSTRIAL PRODUCTION, INDUSTRIES, INFLATION, INTERNATIONAL, OPEC, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, SINGAPORE, THE FLOW OF INVESTMENTS, USA, VIETNAM | Leave a Comment »

TENAGA TO REDUCE CAPEX NEXT YEAR (Malaysia)

Posted by Gilmour Poincaree on December 12, 2008

2008/12/11

Bernama

PUBLISHED BY ‘THE NEW STRAIT TIMES’ (Malaysia)

TENAGA Nasional Bhd is reducing its capital expenditure (capex) next year on expectation of a downward trend in electricity demand, said its group chief executive officer, Datuk Seri Che Khalib Mohamad Noh.

“We expect electricity demand will not increase as what it was before, (thus) we have cut down some of the capex that we are supposed to do for 2009,” he told reporters after the company’s annual general meeting in Kuala Lumpur.

He said TNB has experienced an increase in demand (electricity) within the region of six to eight per cent every year but early part of this year saw the demand reduced to four per cent.

“We think it is going to be tough. We are worried that the total demand for the financial year 2009 may go down further,” he said.

But he noted that the the fall would not go as low as 10 per cent which was recorded during the 1997/98 financial crisis.

TNB is spending some RM5-RM6 billion every year in terms of capital expenditure.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW STRAIT TIMES’ (Malaysia)

Posted in COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MALAYSIA, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »