The US Energy Information Administration (EIA) recently released full-year 2011 world oil production data. In this post, I would like show some graphs of recent data, and provide some views as to where this leads with respect to future production. World oil supply is not growing very much Figure 1. World crude oil and other "liquids" supply has dropped below the 1983-2005 trend line in recent years. Actual data is from EIA International Petroleum Monthly, through December 2011.
A few hours ago, Greek lawmakers approved a reform law to unlock about €8.8 billion of rescue loans from the European Union and the International Monetary Fund. The law, which was a condition for further aid installments, passed easily with the solid backing of the three parties comprising Greece's ruling coalition, by 168 to 123 votes.
We're continuing our visual presentation of the data inside our "How Much Does It Cost to Employ You? (2011-12 Edition)" tool today with a look at the average tax rates paid by employers to support the unemployment insurance benefits mandated by the states in which they operate!
European and local trade unions held a massive demonstration in the Hungarian capital Budapest Saturday to protest austerity measures, on the margins of a meeting of European finance ministers."We want jobs, growth, our welfare state intact, and we are not going to pay for bankers' mistakes," European Trade Union Confederation (ETUC) leader John Monks said in front of a crowd organisers estimated at 45,000.The tens of thousands of marchers swarmed from everywhere from Spain to Romania into Budapest, which currently holds the rotating presidency of the European Union.