显示标签为“economy”的博文。显示所有博文
显示标签为“economy”的博文。显示所有博文

2011年10月28日星期五

Oil prices fall on economy fears

AppId is over the quota
AppId is over the quota
5 September 2011 Last updated at 16:20 GMT Continue reading the main story Oil prices have fallen on concerns that the US could fall back into recession, and continuing anxiety about eurozone debt levels.

With fears about a slowdown in China also hitting sentiment, US light crude had fallen $2.40 a barrel to $84.05.

Brent crude was also lower, dropping $1.66 to $110.67 per barrel.

The falls come after data on Friday showed that the US economy added no new jobs in August, a much worse reading than had been expected.

Analysts had predicted that the non-farm payrolls figures from the Department of Labor would show about 70,000 new jobs had been created.

The unemployment rate remained unchanged in August at 9.1%.

In Europe, the main share indexes were down sharply as concerns continue about the high debt levels of eurozone countries, and how these could impact on the wider economy.

Germany's Dax index and France's Cac were both 2.6% lower in morning trading.

Meanwhile, a report in China said that the country's service sector grew in August at its slowest pace since records began.

"Oil is falling on worries over weak demand, unemployment and talk of a double dip recession," said Eugen Weinberg, head of commodities research at Commerzbank in Frankfurt.

He added that oil prices would be falling further were it not for growing optimism that the US central bank, the Federal Reserve, will announce new measures later this month to try to stimulate the US economy.


View the original article here

2011年10月18日星期二

VIDEO: 'Too much euphoria' over Asian economy

AppId is over the quota
AppId is over the quota

Asian nations face huge unresolved challenges - of poverty, poor governance and environmental degradation.

Stephen Sackur spoke to Rajat Nag, Managing Director General of the Asian Development Bank about inequality and governance in Asia, and asked whether there is too much optimism about Asian economy growth.

You can watch the full interview on Wednesday 5 October on BBC World News at 03:30 GMT, 08:30 GMT, 15:30 GMT and 20:30 GMT.

And on BBC News Channel at 04.30 BST on Wednesday repeated on Thursday 00.30 BST.

Find out who is coming up on the programme by following us on Twitter.


View the original article here

2011年10月17日星期一

Bernanke: US economy 'faltering'

AppId is over the quota
AppId is over the quota
4 October 2011 Last updated at 20:35 GMT Ben Bernanke giving testimony to Congress The Fed chairman also lent support to critics of China's exchange rate policies US Federal Reserve Chairman Ben Bernanke has told Congress that the US economy is "close to faltering" and more action may be needed.

Giving testimony to the US legislature, he said the Fed was "prepared to take further action as appropriate" to bolster the recovery.

His comments come after the Fed already decided to shift $400bn of investments into longer-term government debt.

Stock markets responded positively, with the Dow Jones rallying over 1%.

But US markets fell back again somewhat in afternoon trading, until a strong late rally just before the close, which left the Dow Jones Industrial Average uip 1.4% for the day.

China 'blocking'

He said the switch into longer-term government debt announced last month - dubbed Operation Twist - was the equivalent of a half-percentage-point cut in interest rates, and gave a "meaningful, but not an enormous support to the economy".

But he warned that the eurozone debt crisis, as well as overly hasty spending cuts by the federal government, risked undermining the US recovery.

When asked what additional action the Fed might take if the economy continued to weaken, he reiterated policy options he has laid out in past speeches:

giving clearer guidance as to how long interest rates will be held close to zero, and in what circumstances they would rise;increasing "quantitative easing" - the Fed's purchase of US government bonds and other debts;cutting the interest rate paid on excess cash that the banks hold at the Fed.

But he added that the US central bank's monetary policies were "no panacea".

Continue reading the main story The Fed chairman also appeared to lend support to those seeking to take action against China's policy of buying up US debts - which has the effect of holding down the value of the yuan at a more competitive exchange rate.

"Chinese policy is blocking what might be a more normal recovery process in the global economy," said Mr Bernanke, who said China was shifting demand away from the struggling US and European economies.

The US Senate has just begun a week-long debate on a bill that would threaten China, and other countries accused of keeping their currencies unfairly cheap, with trade sanctions.

On the subject of the eurozone debt crisis, Mr Bernanke said there was little help the US could offer.

"The problems are not really economic, they're political," he said. "Because what they are trying to do is find solutions that are acceptable to 17 different countries, which you can imagine is very difficult."

He said that the US was an "innocent bystander" to the crisis, and while the country's direct exposure to any debt default by Greece was limited, the real risk was that a disorderly default could trigger a run on other eurozone governments and a banking crisis, which would hit the US badly.


View the original article here

2011年7月31日星期日

How the plans of Germany to succeed in a free, low-emission nuclear carbon economy

Germany has made some fundamental energy decisions in recent months, which are interesting to study and learn from other countries. The most "famous" decision has recently been phase out nuclear power over the next ten years. This movement is based on years of debate and a social decision Japan Fukushima Daiichi nuclear accident away from nuclear energy.

There has been much less attention, however, about the staggering of other energy sources. Not there has been much focus on the way in which Germany can remain Europe's economic power and the second largest exporter to eliminate an important source of energy from the grid in the world.

This gradual story is vital to understand, especially taking into account that Germany plans to meet ambitious greenhouse gas reduction goals while to stage nuclear energy. So how is this working?

The coalition that ruled Germany from 1998 to 2005, led by the Social Democrats and the Greens, launched a series of policies to expand renewable energy sources and gradually nuclear power. Last year the coalition Government new and current (a more conservative mix) decided on a new concept of energy which consisted of two main elements.

1. According to the phase of nuclear power, but in a slower time. So they decided to extend the duration of 17 German nuclear power plants for eight to twelve years.
2. According to an ambitious set of short- and long-term energy and climate change policy objectives including:

* a 40% reduction of emissions of GHG by 2020 along with a goal of 80 to 95% of longer term by 2050 (compared to 1990 levels),
* a massive expansion of renewable energy sources in all sectors, for example, an increase of renewable energy in the generation of energy from 17% in 2010 and 35% by 2020 and 80% by 2050
* a target to reduce the energy consumption in buildings by 2020 20% and 80% by 2050.
* A target to reduce the energy consumption in transport in 2020 10% and 25% by 2050.

However, after the nuclear accident in Japan Fukushima, there was a decision to return to the original removal of 2000 timetable, while maintaining rather than the goals of energy and climate change the Government had established the previous year. This approach was endorsed by a large majority, with 85 per cent of parliamentarians to vote in favour of a more rapid elimination and a series of measures (see below) in the gradual of clean energy.

Germany energy transition is based on three strategic criteria.

First, energy efficiency

Although efforts will focus on improving energy efficiency in all sectors, there is a strong emphasis in the construction sector. This is important because of its long-lived capital stock and renewal cycles long at Germany. In other words, Windows of opportunity to change the buildings that remain around decades do not see very regularly, by what you have to understand them when they do so. If you lose window in buildings energy efficiency measures will be more expensive or even impossible.

The approach is twofold. Firstly, is the European Union directive on the energy efficiency of buildings, which provides that all new buildings should consume energy almost zero from 2020 onwards. Germany should of course follow this regulation too. In addition, Germany has been rather than new incentive programs to support the renovation of the buildings. In addition to using revenues from the auction by the regime of emissions trading European ("cap and trade" system for Europe) programme of renewal, Germany has also all reductions of excise for the renovation of the buildings. Together 3.4 billion euros will be allocated to an energy lower consumption, building modernized in Germany sector.

Second, free energy of carbon in all sectors

To achieve the objective in the long term of decarbonization, all sectors must transform its base of fuel to carbon-free energy. In the electricity sector, the focus is on renewable energies, linked with the ambitious objectives indicated above. For some sectors, electricity and heating will play a role if produced by renewable sources of energy or low carbon emission.

In the transitional period will be probably built new plants of highly efficient and flexible gas as energy. New coal fired plants are highly unlikely. With the significant increase in renewable energy sources and the fact that there will be full of auction of emissions under the EU emissions trading scheme, the economy did not add.

Given the important role of the electricity for the decarbonization for many sectors, the early and rapid transition from the renewable energy sector is a key pillar of the transition of the energy system. As noted above, the new objectives of renewable energy are being implemented with regular reviews.

In the transport sector, Germany must implement the EU auto efficiency standards. In addition, Germany has launched a strong innovation program for electric mobility with the aim to have one million electric cars on the market in the year 2020 and six million in 2030. There are currently 42 million of traditional cars on the road.

Third strategic focus on long-term objectives

As noted above, the policy focuses on the reduction of emissions in sectors with the capital reserves of long life, for example, buildings and power plants. These sectors structured gas emissions of greenhouse effect and the demand for energy during long periods of time.

However, one must ensure that the infrastructure of this transition is in place. Therefore, Germany has launched a new legal process for the development of the "target 2050 network" which includes all put infrastructure in place and required settings for a system of dominated electricity from renewable energy sources.

This planning process creates based on the related licensing regulators related investments and offers certainty about the future of the grid. Efforts will be made by special to adjust and roll-out of the necessary infrastructure, including transmission networks that will transport wind energy in the northern regions of the country to the South, intelligent distribution networks that can manage large shares of electric cars and production of energy from decentralized sources, as well as sufficient information storage options to deal with large shares of variable energy sources.

This package of proposals is the basis for the confidence of Germany that can remove a source of energy and phase in renewable energy and energy efficiency. The combination of a combination of policies (emissions trading, rules, regulations, incentives) with the planning and investment in infrastructure in the long term is the way it has chosen to Germany.

While this mix will not necessarily be the same in each country, other countries can learn from the different parts of the German set for the transition to an economy of carbon economically strong and low.


View the original article here