Insight and inspiration in turbulent times.
Yes, the presidential race has been ugly. But the accusations, smears and spin of the current campaign, although disgusting, are only reflections of a much larger problem. The plain truth is that we are in the process of destroying American democracy.
Britain faces winters of blackouts and energy price hikes because of a looming crisis in generating capacity, a power and engineering industry union warns.
Signals are growing that oil’s price surge could push all the way to $70 a barrel, according to the technical analysts who forecast market trends by interpreting chart patterns.
The International Energy Agency has revised upwards its estimate of world oil demand, quashing hopes of an imminent decline in oil prices.
Oil and gas account for the lion’s share of US energy consumption and are critical to transportation, home heating, and electricity generation. Soon we will have less of these fuels to go around, despite an expanding population and the constant demand for more energy to fuel economic growth.
Energy economist Philip Verleger Jr. attributes the present price run-up to massive miscalculation. Oil companies and OPEC underestimated global demand, particularly from China.
China has warned that several of its key regions face more power shortages this winter and spring.
Sharing oil reserves among Asian nations could be an option for countries in the region if crude prices stay high, Japanese Trade Minister Shoichi Nakagawa said on Tuesday as oil soared to a record above $50 a barrel.
Much to the consternation of the European Union, which now numbers several former Soviet bloc nations among its members, Russia through its natural gas monopoly, Gazprom, has spun a web of control over energy supplies extending from Estonia on the Baltic Sea to Bulgaria on the Black Sea.
The world’s largest wind power project will begin construction this month near Beijing, bringing green energy and cleaner air to the 2008 Summer Olympics and city residents coping with some of the worst air pollution in the world.
The Philippine presidential palace Wednesday said it is imperative to cut the Philippine dependency on oil to lessen impacts of oil price hikes on citizen’s lives.
Russia and China agreed to terms for Russia’s membership in the World Trade Organization during top-level talks in Moscow on Friday, but both sides left unanswered questions about whether Russia was ready to guarantee stable oil supplies and boost oil and gas deliveries in the future to its energy-hungry neighbor.
