Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Bush pushes Congress to move on farm legislation
President Bush yesterday accused the Democratic-led Congress of blocking his proposals to deal with rising gas prices and dragging its feet on measures to address the sagging economy. He said he was "open to any ideas," including a proposal backed by presidential contenders John McCain and Hillary Clinton to suspend gas and diesel taxes this summer
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Fuelling Famine
Cartoon
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UN starts meet to hammer out food crisis battle plan
UN Secretary General Ban Ki-moon began talks yesterday with key development agencies on how to tackle the crisis provoked by soaring food and fuel prices. "This is an exciting time for the United Nations, but it is also a time when we are challenged to exert our best efforts to rise to the expectations that the world is placing on us," Ban said ahead of meetings in the Swiss capital. The UN was to hammer out a battle plan of emergency measures at the two-day conference in Berne, while exploring other longer-term measures to solve the global food crisis.
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Oil prices, food crisis need immediate attention'
Though the independence of the judiciary is important for establishing the rule of law in the country, the two issues that need immediate attention in Pakistan are rising oil prices and the food crisis, which have the potential to destabilise an already vulnerable economy. This was stated by economic analyst Yousuf Nazar at the launch of his book The Gathering Storm in a local hotel on Sunday.
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Govt doubles CNG price
Economist says inflation to go up, Tamim sees no effect on essential goods prices Aminul Islam The government has almost doubled the CNG price to Tk 16.75 a cubic meter from Tk 8.50 with effect from today to cut the losses Petrobangla incurs. The government on Thursday said the fares of CNG-run three wheelers and taxi cabs would soon be revised upward, but the CNG-run buses and trucks would not be allowed to increase fares as they had already been charging high fares.
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Country's oil import price basket breaches $110 per barrel
Public sector petroleum companies' losses on fuel sales cross Rs 500 crore a day; govt under renewed pressure to allow them to raise petro-product prices New Delhi, April 23: The price basket of crude oil that India imports has crossed an all-time high of $110 a barrel, widening the losses incurred by state-run firms on fuel sales to over Rs 500 crore per day and increasing pressure on the government to allow oil companies to hike the prices of petroleum products like petrol, diesel, domestic LPG and kerosene.
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OPEC's greed leads to global food crisis (Editorial)
The world's food security structure seems to be crumbling and could give way to a serious crisis if not tackled on a war footing. Of course many factors -rising population, increasing demand for food in faster developing nations like India and China, drought conditions in many parts of world, expanding acreage for cash crops and finally diversion of farmlands to grow corn in America, Latin America and Europe for producing ethanol are responsible for depleting food stocks. But mainly it the sheer greed of oil producing countries that has driven the food prices to new unaffordable heights.
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High oil prices risky to economy, says US
Oil prices that hit a record on Tuesday are clearly too high and not beneficial for the US Economy, a top US energy official said. The United States has been remarkably resilient in the face of expensive energy, but a rally on oil to more than $118 a barrel is an economic threat, US Acting Deputy Secretary of Energy Jeffrey Kupfer told a news briefing. "Oil prices are clearly too high. We are not happy with the prices or the direction they're going in," Kupfer said.
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Crude spike: Airlines may hike fuel cess again
With crude hitting a new high of over $117, domestic airlines have warned they will have no option but to increase surcharge if jet fuel becomes dearer this month-end. The industry fears a 3-4% hike this time round. Airlines have make it clear that only reduction of tax rates by states, can help avert another hike in surcharge.
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Left-UNPA leaders court arrest against price rise
Amid demands that the Left parties save the country rather than the government, the entire Left leadership on Saturday courted arrest in the capital along with leaders of the United National Progressive Alliance (UNPA) in protest against rising prices. Part of the week-long joint action planned by the Left parties and UNPA on the issue, the protest was preceded by a convention in which the Government came under attack for its