On the fifth anniversary of the Iraq war, a new report from Oil Change International, entitled A Climate of War (pdf) quantifies both the greenhouse gas emissions of the Iraq War and the opportunity costs involved in fighting war rather than climate change. At the webpage A Climate of War at oil Change you can find some facts on the war and warming.
Tag Archive for 'Business of Green'
Dutch designer Greetje van Tiem (Graduate Design Academy Eindhoven) has an intriguing idea.
Turning old newspapers into yarn that can be woven into carpets, curtains and upholstery. A great example of maximising value!
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Gold traded above $1,000 a troy ounce for the first time on Thursday March 13th. Read more on The Economist here and here.
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BusinessWeek has written a report on crude oil surpassing $110 for the first time on Wednesday March 12th.
Please also visit my previous post on “What’s next for oil prices?”
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The Financial Times has a great news backgrounder on climate change. I just finished browsing and skimming the entire section and I thought let’s share the wealth. *click here*
Next to this great backgrounder I fancy the FT column Global Village. It features columns linking local culture, business, and politics.
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Well, don’t say I didn’t warn you. Yesterday oil touches the $100 barrier and its front page news across the world. The primary question remains: Will it last? A long-term perspective demands that the world’s leading economies reduce their dependence on fossil fuels. However, the short-term imperative is still to find more of the stuff. Nevertheless, the main four influencers are: today’s demand, tomorrow’s demand, today’s supply and tomorrow’s supply.
It’s tough to make big changes in today’s demand; people would have to change their behaviour overnight to use less jet fuel gasoline, fuel oil, chemicals, plastics, etc. Tomorrow’s demand, on the other hand, is more malleable. E.g. creation of a new international agreement on climate change including both developed and developing nations, the new fuel standards in the United States, the shift to non-oil-based energy in Europe and Chinese efforts at conservation. In the meantime, however, the global economy is growing at about 4 percent per year - and demand for oil is likely to expand at least as quickly.
On the other side of the equation, today’s supply is already changing rapidly. Just this week, Iraq’s oil ministry predicted that its output this year would, at last, be higher than before the war. In addition, new oil supplies - even from high-cost sources - are coming online in big countries from Canada to Kazakhstan, and in small countries from Equatorial Guinea to East Timor. Supply tomorrow is a tougher nut to crack; so many geopolitical factors can affect it, to say nothing of the amount of oil actually left in the ground. But with peace, and with real changes in behaviour, oil need not see $100 again for a long time. Without them, we’ll keep checking off these landmarks: $110, $120, $130..
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