Until now, China has never shown much interest in Middle Eastern investment. If it is able to establish a relationship with the Middle East, it can take advantage of arguably one of the most volatile areas in the world. In an area where westerners have long feared to go, China seems very interested in the diplomacy, economics, soft power and security. Upon helping in the war in the Middle East, China has begun to fully immerse themselves in the Middle East in an effort to increase their involvement in the area.
globalEDGE Blog - By Tag: energy
The World Trade Organization is investigating an Indian governmental program that requires solar energy producers to use Indian manufactured solar cells instead of imported products. Several U.S. environmental groups are pressing the WTO to not pursue action against India, saying that ending the program would threaten the ability of India to cut greenhouse gas emissions. The irony is that India’s green energy industry would be harmed if no action were to be taken, a blow to the environmentalists goal of increasing alternative energy use throughout the globe.
While Cyprus is experiencing economic woes and Turkey is finding its way out of a huge European debt crisis, the energy relationship between Cyprus and Turkey regarding gas and oil is causing stress for both countries. On Wednesday, Turkey announced the suspension of energy projects with Italian giant ENI because the company expanded the exploration for oil and gas to Cyprus. ENI’s decision on the project expansion in Cyprus has created hope of economic recovery Cyprus but it infuriated Turkey since the project would cut down the energy plan in Turkey.
The shale-gas industry is flourishing in the United States and West African crude oil exporters are being negatively impacted. Because of the “U.S. shale-gas revolution”, crude oil exports from Angola, Algeria, and Nigeria to the United States have fallen by over 40%. Thus far, this has led to a decrease in overall crude oil exports from these three countries; however, the increase in supply of sweet crude oil has led existing buyers to increase their purchases and allowed new buyers to enter the market.
What seemed unthinkable just a half decade ago is now reality. The United States has surpassed Saudi Arabia as the world’s biggest fuel producer. Crude output in the U.S. has hit a 20 year high and has produced the most fuel in the world for the first time since 2002. The United States is producing 11.65 million barrels of liquid fuel a day (which includes crude, refined petroleum products, and biofuels) surpassing the Saudi Arabian output of 11.25 million barrels a day.
Germany’s economy holds a critical significance in the European Union, especially in regards to the ongoing debt crisis. Its industrialized economy has held steady despite a slump in the global economy. It might be surprising to hear that Germany, one of the most industrialized countries in the world, is undertaking an energy revolution that will dramatically transform its economy’s energy sector. The newly re-engineered economy will no longer receive its energy from nuclear powered stations as all nuclear power plants in Germany are being closed down. Renewable energy sources, including wind and solar power, will instead fill Germany’s energy gap. Will this move jeopardize Germany’s economy and how does this energy revolution affect Germany’s relationship with other countries?
The way in which shipping is conducted can have huge implications for consumers and businesses around the world. As talks of sustainability and green energy continue to dominate the energy sector, businesses are looking for ways to make shipping less harmful to the environment. Hence, some companies have begun to ship their goods via sailing ships that use the wind as the source of energy. The organic and eco-friendly sector has jumped on this idea because the maritime industry is said to currently produce 3-5% of global carbon dioxide emissions.
In a move that always stirs controversy and can enflame international relations President Evo Morales, of Bolivia, has moved to nationalize the energy sector by overtaking the largely Spanish owned company, Electropaz. President Morales has accused the Iberdrola, the company based in Spain that owns the majority of Electropaz, of charging artificially high prices to residents in rural areas of the country. Morales argues that under the constitution this move is permissible by acting in the public’s interest.
For the most part, Africa struggles to develop large amounts of energy, and Ghana is striving to change this. Apart from the northern and southern parts of the continent, Africa has no major energy sources and no efforts have really been made to fix the problem. Blue Energy, a British renewable energy investment firm officially verified plans to build Africa’s largest solar panel installation. It will be a one hundred fifty five megawatt photovoltaic plant, and construction will be located in Aiwaiso, Ghana. Officials are hoping that this is the start of a revolution for renewable energy in sub-Saharan Africa, and it will show whether or not governments can unlock the large potential that Africa holds for solar energy.
Lately, Iran has been under a lot of international fire because of its nuclear program and its questionable intent. Iran claims that the goal of its nuclear program is to generate an alternative energy source, but American and European officials believe that Iran has plans to build nuclear weapons. As a result, the United States and Europe have put sanctions on Iran’s oil and natural gas exports because they believe that this large source of revenue could be financing Iran’s nuclear program. Sanctions, however, have not been applied to Iran’s renewable energy program, which happens to be the largest in the Middle East. Iran is developing renewable energy sources to lessen its dependence on fossil fuels and in part to escape the sanctions that have been placed on its oil and natural gas industries.
In today’s world, energy is always in demand and this has led many companies in the energy sector to focus on new renewable forms of energy. Lately renewable energy, specifically solar, has experienced a multitude of issues that threaten many of the companies that specialize in solar power. From the high profile collapse of Solyndra to the free fall of prices around the world, many are left wondering what the future holds for this burgeoning industry.
Over a year after the Fukushima nuclear disaster, the future of nuclear energy in Japan is in jeopardy. On March 11, 2011 an earthquake off the Eastern coast of Japan triggered a tsunami that killed nearly 20,000 people, devastated many towns along the Eastern coast, and severely damaged the Fukushima Daiichi nuclear reactors. The damage to the reactors led to a significant release of radioactive chemicals, and a mass evacuation of the surrounding area was conducted. Now, Japan is intent on cutting back and possibly even eliminating nuclear power productions, and the economic repercussions of such a transition are coming to fruition.
As the international community continues to strive towards clean, renewable energy, South Korea has turned towards an abundant resource to power the future: the powerful waves of the Yellow Sea. Marine experts from Orkney, Scotland have recently agreed to advise South Korean engineers during the construction of a new tidal testing center in the northwestern Incheon Metropolitan City. The European Marine Energy Centre, or EMEC, has been operating in Scotland since 2003, where it has been developing technologies that generate electricity by harnessing the power of waves and tidal streams. Although the turbulent waves of the Yellow Sea have been noted as "very tough to work in," and EMEC spokeman has said that the waters offer some of the world's most tidal conditions, therefore making it a superb resource.
With booming agricultural and mining industries, Latin America has seen economic and human development increase exponentially in the past decade. While human capital and resources attracted foreign investors for a past few years, lately it has been the plentiful sunshine that catches the eyes of many venture capitalists.
Chile in particular has caught the “green” bug. While imported fossil fuel accounts for more than 60% of the county’s electricity production, hydroelectric and solar power plants are in high demand by the Chilean government. With the cost of solar power technology falling, Chile’s quest for affordable renewable energy is not too difficult to obtain. A trade deal with the world’s leading solar power technology manufacturer, China, is in the works.
Over the years, clean energy sources have become extremely popular as countries and governments around the world try to mitigate climate change by reducing carbon emissions. One of these clean energy sources is solar power which converts sunlight directly into electricity. Solar power has been used as a major energy source for many applications such as providing electricity for residential homes and industrial equipment. Recently, solar power has been applied to many new projects. One of which is shipping and if successful, solar powered shipping can have large impacts on the environment as well as international trade.
It appears that Saudi Arabia is attempting to become more open to foreign direct investment. Currently they are a large exporter of oil. Saudi Arabia exports about 9 million barrels per day of oil. Since oil prices are high this has benefited Saudi Arabia, but they are attempting to plan for a less oil dependent society in the future. In order to do this, they will need to diversify the types of businesses in operation in the country and work more with foreign investors.
In an attempt to decrease its carbon footprint, China is asking its energy-intensive industries to reduce their energy consumption by a greater percentage than previously mandated. These efforts by China are also a result of growing domestic and international pressure to decrease its reliance on fossil fuels. Last year, China’s industries fell short of the government’s goals for lowering energy intensity and pollutant emissions, but the government is optimistic about firms meeting this year’s targets due to new and improved policies and controls.
With concerns of a changing global climate, many countries around the world are looking for efficient energy sources designed to lower carbon emissions and combat global warming. One well-known energy project is harnessing the power of the wind with turbines to produce electricity. While many wind farms are built on land, offshore wind turbines are expected to grow rapidly as these climates are filled with constant driving winds. These offshore wind turbines hold great potential for the future of energy and new technology is changing the way wind farms operate.
The Democratic Republic of Congo has faced years of harsh wars leaving the country deeply stricken by poverty, but now the country moves forward and has its eyes on recovery. A large scale plan to build a hydropower dam capable of producing enough electricity for the entire country has kept hopes high in Congo. If constructed the Inga Three dam in Congo would be Africa’s largest hydropower dam and would produce twice as much electricity as the major Three Gorges dam in China. The country’s multitude of rivers offer enormous potential for hydropower but Congo faces many difficulties if it wants to accomplish its energy goals.
Recently, Novozymes, a company that makes enzymes used to make goods such as household detergents and soft drinks, announced that it has developed an enzyme that will make it possible to derive cellulosic ethanol from waste material like household trash or corn husks. This company has discovered something that has been sought after by many clean energy producers- a way to inexpensively convert biowaste into fuel. Novozymes officially announced its new enzyme, Cellic CTec3, February 22, 2012, and already has deals in place to begin supplying it.
Natural gas is a relatively obscure energy source compared to its more popular companion oil. Most people rarely think about it - it heats their house and if there is a particularly cold winter, their heating bill tends to rise. Thought process done. However, natural gas has started to become more mainstream as pricing patterns around the globe and new technologies are awakening the industry.
While many countries depend on each other for the trade of goods and services, few would think countries could depend on each other for one of the most important resources on Earth—energy. A proposed electricity supergrid spanning across several European countries could mean not only improved power sources but also cleaner energy. Advocates of this energy plan suggest that a transnational supergrid could connect power sources like wind farms in Scotland and solar arrays in Spain to the many population centers scattered throughout Europe. The need for an expanded and upgraded power network in Europe is clear. However, the political, regulatory, and economic obstacles are formidable and will be tough to overcome.
The European Union has been one of the most devoted players in the attempts to combat global climate change and reduce carbon emissions. The long-term energy plans proposed by the European Union depend largely on high technology projects designed to capture carbon dioxide emissions and store them underground. This would help abate global warming while also allowing industries to continue to burn large amounts of fossil fuels. However, weak support for the experimental carbon capturing technology has held the European Union back from reaching its energy goals.
Solar power has been a hot topic all over the globe. Many countries have made commitments to use solar panels to clean up energy sources. Still, it does not seem that all of the hype has lead to much production. Many countries have begun these initiatives to "green up" their energy, and now it seems that a reduction in solar panel prices might begin to press the issue.
The world of sports is closely intertwined with the world of business. Sports franchises and leagues function to create an economically-viable product for profit. Businesses in many industries utilize sports entertainment for its unmatched marketing opportunities. Global athletic events bring tourism, trade, and international attention to host cities and countries. Businesses could not function without sports and sports could not function without business. This week, the globalEDGE blog will take a closer look at business and economic impacts of sports around the world.
While many countries look to drive their economies by increasing trade and consumer spending, South Korea is looking in another direction. Renewable energy sources and projects are being used to boost business and promote economic growth in South Korea. The term “Green Growth” has been coined by the country and has become a major national strategy. This strategy has given rise to a vast range of policies regarding waste-management and air-quality control. However, South Korea’s main focus lies within renewable energy technologies with the mission not only to lower greenhouse gas emissions but to also boost the economy.
Skiing in Barcelona probably sounds like an oxymoron to most people. With its warm climate and lack of snow, Barcelona is not normally on avid skiers’ top lists of destinations, but that all could soon change once an indoor skiing facility is built in Barcelona.
The concept of an indoor skiing facility may be foreign to some, but there are actually a lot of facilities like this that already exist. There are several in Europe – mostly in areas with cooler climates, some in Asia, and others scattered across the world. The indoor skiing facility in Dubai is the most relevant to Barcelona because it is also in a very warm climate. The facility has had to take extra care by making walls several feet deep and heavily insulated to keep the inside cold enough for ideal skiing conditions, exactly what the facility in Barcelona will need to emulate.
Over a decade of recurrent high energy prices has prompted Kenya to look beyond traditional energy sources. The traditional energy supply line in Kenya is unstable and has been for many years, which has caused consistently high prices that will unlikely subside. Green energy firms are emerging and have been largely successful thus far because of the increasing demand for alternative energy sources.
As the earth’s conventional oil supply continues to diminish, the discovery of new fuel types is becoming as important as ever. The Organization of the Petroleum Exporting Countries (OPEC) has recently released a statement stating that global tight oil reserves could produce as many as 300 billion barrels. Tight oil is another name for shale oil, which is a form of light crude oil found in shale deep below the earth’s surface. Although it will most likely be a decade before big supplies of tight oil are produced, the future production could rival the conventional oil production in Saudi Arabia.
Last month’s blog series introduced readers to cloud computing, as well as digging deeper into numerous characteristics of the cloud. A particularly interesting aspect of cloud computing is the risks and benefits to the global environment. With the explosive growth of cloud computing in recent years, this is quickly becoming a very heated debate.
Since the Industrial Revolution coal has been one of the most important energy commodities for countries and industries across the world. However, this is beginning to change as many businesses search for cleaner energy sources. With new drilling techniques, lower prices, and a large domestic supply in the United States, natural gas is becoming a very popular energy commodity. This energy switch from coal to natural gas is often viewed as beneficial for the environment but there has been some doubt regarding this belief.
Germany is one of the world leaders in renewable energy. They currently receive 17% of their energy from alternative sources and have vowed to increase these levels to 35% in 2020 and 80% by 2050. Deutsche Bahn, the country’s major railroad company and largest energy user has just released plans to be completely carbon-free by 2050.
There have been massive efforts recently to improve the quality of China’s polluted air by blending low-polluting imported coal with dirtier-burning domestic coal. Experts argue that while this will positively effect the air quality in the near-term, it might contribute to faster global warming in the long-term.
A new report by KPMG is claiming that the clean technology sector is a strong force in the economy of several Canadian provinces, including British Columbia. The report says that clean tech firms will directly generate over $2.5 billion for the economy in 2011, not including other economic benefits created by these companies. This is a 57% increase from 2008. The growth is not expected to slow either; KPMG has stated that the sector will grow 16.5% to 8,400 employees in 2011.
Three months after Japan’s largest earthquake, a major nuclear reactor disaster seems to have been avoided. However, major doubts surrounding nuclear energy as a safe power source remain in countries around the world. If these doubts linger, the energy industry can be changed dramatically with this significant loss of faith in nuclear energy. Alternative energy sources must be able to replace nuclear energy and many countries will have to develop efficient and sustainable infrastructures to support this energy change.
In 2007, former president Oscar Arias announced Costa Rica’s goal to become the first developing country to go carbon-neutral in 14 years. At the time, that goal seemed to be very unlikely for such a small country with financial difficulties. However, over the past years Costa Rica has made significant strides in accomplishing their energy goal and has become one of the leading countries in environmental sustainability.
In a recent Forbes article, they highlighted the top 10 green companies in the world. These companies have all in some way contributed a global environmental management system by reducing emissions, adjusting their manufacturing process, becoming environmentally certified and doing the best to adjust their performance records into a more positive light.
Everyone sees the recycling label, the organic food label, and sometimes something similar to the Rainforest Alliance label on their food and home products. These let us know what the product stands for and where it came from. Now a new label may be appearing on many of your household products, the WindMade label.
When you think of a major international business hub, densely populated metropolitan areas such as London, Tokyo, and New York City come to mind. They are home to many multinational corporations’ headquarters and countless commercial offices; business never seems to cease in these cities. The relentless rise of electricity prices and a growing demand for high-quality power could drastically change the geography of these international business hubs in the next decade.
As the demand for energy is expected to grow by double digits in the upcoming decades, the search for the right energy source to fulfill this demand has begun. The serious problems at the Japanese nuclear power plant have raised major concerns about the safety of nuclear energy and new exploration for oil has yet to resume in the Gulf of Mexico after last year’s massive oil spill. Coal has had similar bad luck as coal plants have been used more cautiously due to their contribution to global warming. With these three energy sources ruled out, natural gas is looking like a top candidate to fulfill future energy demands.
Oil is quite possibly the single most important commodity in the modern world economy. Those countries with abundant sources of the valuable substance are in a strong position to trade with producers around the world who cannot do business without it. CNBC has put together a list of the top fifteen countries in terms of confirmed oil reserves. The ramifications of this list are much greater than they may initially seem.
As the world’s population continues to grow and the problem of poverty remains, it is clear that we must continue to develop the world economy. However, many believe that this economic growth should not come at the cost of the environment that supports our lives. Recently, the United Nations released a report that estimated the cost of changing the world from an unsustainable economy to one that is both resource efficient and environmentally friendly.
During the cold winter months, businesses use an enormous amount of energy to heat their working facilities. With soaring energy prices around the globe, businesses are looking for ways to save energy to reduce these high energy costs. A company in Sweden has found an exceptional way to do just this. Sweden’s creative approach to heating might just surprise you.
With China’s push for rapid economic development, it’s no surprise that China consumes more energy than any other country in the world. As China dominates the global energy market, it also is the single biggest force in causing oil prices and carbon emissions to increase. However at the same time, the International Energy Agency claims China to be the most influential country in the development of renewable energy. China is looking to lower the costs of oil and reduce carbon emissions linked to negative climate change by improving the progress of green energy. This developmental process of increasing the supply of energy in China will affect almost every country in the world.
In the world today, clean energy sources are becoming more valuable each day with the growing concerns to protect our environment. The energy industry includes many different variations of these renewable energies including: wind power, hydropower, solar power, geothermal power, and biomass power. Nowadays, renewable energy businesses can be found in countries all around the world.
It can be done! Creating jobs back home while increasing sales overseas is possible and United Solar Ovonic has proved it. United Solar Ovonic is a Michigan based company that creates and exports solar panels and has recently begun a joint venture with United Solar Ovonic Jinneng in China. They develop lightweight, flexible solar panels. They are great, not to mention green, energy producers so it’s no wonder that this business has been booming.
The European Union has committed to the goal of increasing the use of biofuels to 20% throughout the region by 2020. To do this, they have decided to work with Brazil and Mozambique. This agreement will follow recent trends to increase renewable energy sources, and will greatly benefit both Brazil and the EU.
After panic spread last year as the price of Sugar rose due to poor weather conditions in Brazil and India, things look hopeful as prices become more stable. Sugar production is seasonal and is heavily affected by weather conditions. Last year India struggled to produce sugar due to a long drought after the Asian Monsoon. While India was waiting for water, Brazil struggled to keep the water away as it had heavy rains which created waterlogged crops.
Two developing countries are taking a turn to produce more oil and gain a bigger stake in the oil industry. Both Columbia and Venezuela hope to double oil production in upcoming years. Columbia hopes to reach 1.2 million barrels a day by the end of 2012 and Venezuela plans to increase oil production from the current 3 million barrels per day to 6 million barrels by 2016. If these numbers hold true it looks like both countries will become imperative to the oil industry.
What do Michigan and China have in common? They are both involved in the production of a triple junction amorphous crystalline solar cell. In layman’s terms, solar energy. These roof-mounted solar cells will generate much more electricity than silicon because of it is lightweight and flexible structure which holds up more efficiently in real-world conditions.
Poultry farmers all over the globe are running into serious problems with the waste from chickens, which is real trouble when it gets into the water supply. Years back John Logan, a farmer from Prentiss, Mississippi, noticed the same problem. In an interview with NPR radio he recalled, "I said, 'I got to do something.' I can't be putting this on the ground. Now, I have a river right here. What's to happen when that phosphorus overload washes into the river, which then ends up in the Gulf of Mexico?"
Is “off-grid” the new “on-grid”? Bloom Energy thinks so. The company is a start-up based in Silicon Valley, California and it claims to have found a solution to both reducing harmful byproducts and providing energy at lower costs than the current average market rate. Their compact power plants are run on everyday elements such as oxygen and can be as small as a lunchbox.
Until recently China was the world’s largest exporter of coal. While it is still the largest producer, a new exporter has come on to the map. Indonesia recently surpassed China in the market for exporting coal. Many Chinese power stations are even importing coal from Indonesia rather than obtaining it from within its own borders.
This week, multiple oil companies are battling for control over Iraq’s 15 fields, located in Baghdad. These fields contain at least 41.121 billion barrels of oil. This is the biggest cut of Iraq's existing oil assets of 115 billion barrels in decades! A total of 44 companies, which include Exxon Mobile Corp, Chevron, and Britain’s BP Group PLC, will be placing their auction bids this week. After all, how could they pass this up?
Going green has become a global event. Billions of dollars are spent every year to improve our environment, better businesses, and to improve customer service. In 2010, the amount of global investments in alternative energy projects will increase from $130 billion to nearly $200 billion! Too bad it isn’t cheaper to be eco-friendly! Even so, multiple projects are being funded and new technologies are being introduced on a day to day basis. These technologies include clean coal, wind turbines, solar, and hydroelectric, just to name a few.
On December 3, 1984, the lives of 15,000 people in Bhopal, India, ended unexpectedly with a catastrophic chemical plant accident. On March 24, 1989, an oil barge, the Exxon Valdez, ran aground and created one of the worlds largest ecological disasters. Events like these are cemented into history because they have marked important turning points for enhanced levels of corporate social responsibility and their impact on the environment. On this topic we’ll approach the subject from two different vantage points:
“Sustainable Development” has quickly become a term used by companies across the world to explain efforts addressing the use of natural resources. Generally speaking, the concept describes how a company can increase its efficiency, thereby reducing its overall impact on mother earth. The demand in the marketplace to solve energy-related issues is growing, based on recent changes in global governmental policy.
Much of Europe is heavily-reliant on Russian pipeline gas to satisfy its energy needs-- However, this could change fairly soon. Oil companies and private investors are carefully weighing the initiatives which may be set forth following the 2009 Black Sea Energy and Economic Forum. The Black Sea is home to a wealth of unconventional oil and gas resources which could possibly rival Russia in the sheer volume of output and usage.
With raw sugar prices soaring to a high of 24 cents per pound and the possibility of rising to 30 cents per pound, Brazil, the largest sugar-cane growing area in the world, has a few options. Brazilian factories can either continue producing ethanol, which is used for more than 90% of new cars in Brazil, or they can produce sugar, which can be sold 40% above cost.
Sadly, this is the final chapter in our China and America blog series. We hope you enjoyed learning the many different aspects that make the U.S.-China relationship one of the most important in this day and age for the current global business climate. This especially holds true for the energy sector.
India's younger population is growing quickly, and with that comes a greater demand for energy. Despite an ambitious rural energy program, 400 million people still live without access to elecricity. Approximately one-third of the world's urban residents live in slums. In the city of Mumbai, about half of it's residents (roughly 8 million people) live in these slums. Access to electricity can raise the quality of life dramatically, where now it is hard to do simple tasks such as reading and cooking. Many families must choose between putting food on the table or keeping the electricity running. The desperation resulting from this situation has led to a major problem of people stealing the energy.
Gas prices have been fluctuating in the past few weeks without following a certain trend. The volatility is minimal however, when compared to last summer's record-setting high prices. Many people started using public transportation more often, or buying more fuel efficient cars. Others looked toward hybrids. This increased the pressure on car companies to produce zero-emission vehicles at an affordable price. Nissan was one of the companies to rise to the challenge. Spokespeople for Nissan express confidence when saying that their new electric car will sell exceptionally well because it is what the consumer wants.
To many nations, having numerous fields of wind turbines seems like a far-off green dream. Denmark, however, has made it into a reality. The Danes are now essentially energy independent, and wind power plays a major role. In 2007, wind power provided nearly 20 percent of the nation’s electricity production and 24 percent of its capacity; proportions nearly double that of the next highest country. The Danish company Vestas has emerged as the top manufacturer in the world of these wind turbines, which are in high demand. Executive Erik Therkelsen says, "If we can make a turbine, it's sold." So what does this mean for the energy industry?
Last week in Amsterdam, the first of 1,200 households installed energy-saving systems aimed at cutting their electricity costs. Additionally, Dutch banks ING and Rabobank provided access to financing for the purchase of energy-saving light bulbs and efficient roof insulation. Actions like these are the beginning of a concerted effort to make Amsterdam’s infrastructure smarter, greener, and more eco-friendly.
The University of Pennsylvania produces a great publication called Knowledge at Wharton, which provides in-depth analysis of current business topics. They recently came out with a 17-page Special Report on the affects of the oil bust on Middle Eastern economies. It covers several topics ranging from the region’s Sovereign Wealth Funds, to women’s rights, to business transparency.
Check out these two articles from the New York TImes on the recent opening of oil fields in Iraq. This article from December discusses the second round of bids that happened a few weeks ago. The second article is from last June, which discusses the impact of opening the fields to foreign investment.
President Bush achieved one of his top legislative priorities Wednesday, but the magnitude of the occasion may have been obscured by other news. What I’m referring to, of course, is the US-India civilian nuclear agreement.
The nuclear deal is the culmination of an initial joint statement between President Bush and Indian Prime Minister Manmohan Singh, which was signed in 2006. For the past two years President Bush and Prime Minister Singh have trudged through domestic opposition, international hurdles, and legal bureaucracy to produce a finalized agreement. The pact allows full nuclear cooperation between the United States and India, as well as opening up the Indian market to US nuclear technology suppliers. The necessity of the seal of approval by the Nuclear Suppliers Group also makes it a de facto recognition of India’s status as a legitimate nuclear power, despite their abstinence from the NPT.
Although the current state of affairs seems predisposed in dealing with the global banking and equities crisis, another crisis has the potential to dominate our lives much more in the long-term - energy. The supply of fossil fuels will not last forever, and so the race for finding viable replacements to gas, oil, and coal before these become unaffordable to the average person is on.
The heart of business has been and always will be innovation. Therefore, it’s not hard to believe that numerous business schools have begun taking the lead in planning for a post-oil world. According to an article on CNN, this is going to become an increasing trend. Institutions such as