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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (72944)	7/12/2006 9:47:36 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 361081

A blast from the past... Tuesday, 15 February, 2000, 18:15 GMT Oil reaches $30 a barrel 00 The price of oil has surged to its highest level since the 1991 Gulf War. One barrel of crude oil is now worth $30.10. Oil futures rose as high as $30.40 before falling back slightly in trading in London. US President Bill Clinton said the rise was "deeply troubling" and refused to rule out any US action to deal with the situation. "The market is sceptical of words. It needs action in the form of physical oil," said Peter Gignoux, head of the energy desk at Salomon Smith Barney in London. The rise has been caused by a successful campaign by members of Opec, the organisation of petroleum exporting countries, to restrict their output. Their action started last spring and the price of crude oil has more than doubled since then. Many observers believe that the price of oil will continue to rise, contributing to higher prices for petrol over the summer and sparking off inflation. Already, the cost of heating oil in the Eastern United States has risen sharply, causing hardship and political controversy. According to the International Energy Agency, inventories of crude oil in the major industrial countries are at their lowest level since 1997. The Secretary General of Opec, Rilwanu Lukman, told the BBC that oil prices were "rather high at the moment", but he expected them to moderate in the near future. Opec stands firm However, there is still some uncertainty as to whether Opec members will continue to maintain their production cuts. Saudi oil minister Saud Nasser Al-Sabah said Opec had no plans to raise the current oil production ceiling despite rising crude prices. "There is general agreement among the Opec member states to extend the agreement on production cuts," he said. "Our position is clear. This position will not change and (Opec) members are not even considering" such a move. Current production cuts, due to expire at the end of March, are to be reviewed at an Opec ministerial conference scheduled for 27 March in Vienna. But Mexico, a large producer but not a member of Opec, has said that production now should rise. "What's required is to have a policy that allows more oil to be put on the market," said Mexican Oil Minister Luis Tellez. Venezuelan Oil Minister Ali Rodriguez said on Monday that he and his Saudi Arabian and Mexican counterparts would meet in early March to discuss whether to maintain the cuts. Pressure on producers With supplies dwindling, the US Congress has been putting pressure on Washington to get tough with Opec producers. US Energy Secretary Bill Richardson will travel to Mexico, Venezuela, Saudi Arabia and Kuwait later this month. The oil price rise could cause a slowdown in the whole world economy if it causes policy makers to raise interest rates more than they otherwise planned in order to control inflation. news.bbc.co.uk

To: Wharf Rat who wrote (72944)	7/12/2006 10:02:14 AM
From: T L Comiskey	Read Replies (2) \| Respond to of 361081

Bastard Guys............!!! "The 178-nation "Happy Planet Index" lists the south Pacific island of Vanuatu as the happiest nation on the planet, while the UK is ranked 108th." Happiness doesn't cost the Earth The BBC Online Happiness in the Pacific: The small island state of Vanuatu People can live long, happy lives without consuming large amounts of the Earth's resources, a survey suggests. The 178-nation "Happy Planet Index" lists the south Pacific island of Vanuatu as the happiest nation on the planet, while the UK is ranked 108th. The index is based on consumption levels, life expectancy and happiness, rather than national economic wealth measurements such as GDP. The study was compiled by think-tank the New Economics Foundation (Nef). Size doesn't matter One of the authors, Nef's Nic Marks, said the aim of the index was to show that well-being did not have to be linked to high levels of consumption. 'HAPPIEST PLACE ON EARTH' Population: 209,000 GDP/capita: $2,900 (£1,575) Climate: tropical Resources: forests, fish Economy: agriculture, tourism Environmental issues: deforestation and clean water Source: CIA Handbook 2006 Country profile of Vanuatu "It is clear that no single nation listed in the index has got everything right, but it does reveal patterns that show how we might better achieve long and happy lives for all while living within our environmental means," Mr Marks said. The small island state of Vanuatu is situated in the middle of the South Pacific Ocean, and has a population of 209,000. Its economy is built around small-scale agriculture and tourism. Latin American nations dominate the top 10 places in the index, while African and Eastern European nations fill most of the bottom 10. Among the world's largest economies, Germany is ranked 81st, Japan 95th, while the US comes in at 150th. Retail therapy will not bring happiness, according to the study Richard Layard, director of the Well-Being Programme at the London School of Economics' Centre for Economic Performance, said that the index was an interesting way to tackle the issue of modern life's environmental impact. "It reminds us that it is not good enough to be happy today if we are impoverishing future generations through global warming. "Over the last 50 years, living standards in the West have improved enormously but we have become no happier," Mr Layard told the BBC. "This shows we should not sacrifice human relationships, which are the main source of happiness, for the sake of economic growth." Although Vanuatu tops the happiness index, it is ranked 207th out of 233 economies when measured against Gross Domestic Product (GDP). Simon Bullock, economics co-ordinator for Friends of the Earth, which helped compile the data, said the findings showed that happiness did not have to cost the Earth. "The UK economy hoovers up vast quantities of the world's scarce resources, yet British people are no happier than Colombians, who use far fewer," he said. "The current crude focus on GDP is outdated, destructive and doesn't deliver a better quality of life." Nef is calling for the adoption of a "global manifesto for a happier planet" that will list ways nations can live within their environmental limits and increase people's quality of life. The recommendations include: Eradicating extreme poverty and hunger Recognising the contribution of individuals and unpaid work Ensuring economic policies stay within environmental limits The index builds on a report that Nef published earlier this year that warned if annual global consumption levels matched the UK's, it would take 3.1 Earths to meet the demand.