While politicians and policy makers may disagree about how to capitalize on the recent U.S. oil and gas boom, they do share enthusiasm for what it may bring: energy independence. But since conflict broke out between Russia and Ukraine last month, an increasingly vocal cohort in Washington has been touting another idea: energy diplomacy. The country has long been isolationist when it comes to its own energy resources — crude exports have been banned since the 70s — but some now see the opportunity to use the fruits of the boom as a new and powerful foreign policy tool.
Iran's oil exports have been slashed 40 percent in the past nine months because of tough Western sanctions, Oil Minister Rostam Qasemi was quoted as saying on Monday, in a reversal of his previous denials of any decline at all.
Back in late April, I participated in panel "Europe at the Crossroads: The Euro Crisis and the Future of European Integration" (video). There're two graphs from my presentation I'd like to highlight, as they remain relevant even as the eurozone lurches into de facto recession .
Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.Protest in Spain over high youth unemployment and a downgrade warning on Italy’s debt highlight political problems in the eurozone. FT Lex’s Edward Hadas and Vincent Boland discuss whether the lack of strong leaders (in Germany and Spain now, and soon in Italy) is pushing the sovereign debt crisis into a more dangerous phase.
As the global recession deepens, bad news in Asia continues to mount. China and Japan are leading the Asia-Pacific decline.
The HSBC Flash China Manufacturing PMI™ is negative once again with Output down at Sharpest rate in Ten Months.
Flash China Manufacturing PMI™ at 47.8 (47.6 in August). 2-month high.
Flash China Manufacturing Output Index at 47.0 (48.2 in August). 10-month low.
Biofuels submits:U.S. ethanol exports in January through September 2010 totaled 251 million gallons, according to the DOE, which was more than twice the 2009 level. Ethanol exports so far in 2010 amounted to only 2.6% of U.S. production, but nevertheless are causing controversy because the U.S. 45-cent ethanol excise tax subsidy is being claimed by some blenders prior to export. The European ethanol industry protests that (1) the U.S.