Reactions to review of economic implications of climate change

Tuesday, October 31, 2006

Reactions to the review of the economic implications of climate change include optimism about the commercial opportunities and apprehension about possible fiscal repercussions.

The Stern Review of the Economics of Climate Change, commissioned by the British Chancellor of the Exchequer, Gordon Brown, points to the need for urgent action to reduce carbon emissions if a world-wide economic catastrophe is to be avoided. The institution of global carbon trading, control of deforestation, increased investment in energy R & D and support to poorer countries in adapting to climate change are all key proposals in the Review.

A leaked letter from David Miliband, Environment Secretary, to Chancellor Brown contains a package of tax proposals to promote the use of public transport and to encourage people to buy smaller cars and fly less. The proposals also include charges on petrol-guzzling cars, road pricing, levies on air travel and increased charges for landfill waste disposal.

The findings of the Review and the promise of a Government Climate Bill, containing measures in response to the Review, received a mixed reception from employers and unions.

Miles Templeman, Director-General of the Institute of Directors, said: “Without countries like the US, China or India making decisive commitments, UK competitiveness will undoubtedly suffer if we act alone. This would be bad for business, bad for the economy and ultimately bad for our climate.”

The Confederation of British Industries, the British Chambers of Commerce and asset managers F&C all pointed out the dangers to business of additional taxation.

Brendan Barber, General Secretary of the Trades Union Congress, was optimistic about the opportunities for industry to meet demands created by investment in technology to combat climate change. The Prince of Wales’ Corporate Leaders Group on Climate Change, formed by 14 of UK’s leading companies shared this hope. Chairman of Shell UK, James Smith, expressed the hope of the group that business and Government would discuss how Britain could obtain “first mover advantage” in what he described as “massive new global markets.”

The markets for low-carbon energy products are expected to be worth £300 billion by 2050.

Nigel Farage, leader of the UK Independence Party, questions the assertions that there is scientific consensus on global warming. At best, he said, there is uncertainty. Politicians world-wide are jumping on the ‘green’ bandwagon, but, if they want popular support, they’d better be sure that this is not simply the ‘new witchcraft’.

Ruth Lea, Director of the Centre for Policy Studies, also questions the notion that there is a ‘scientific consensus’ over global warming. She alleges that “authorities on climate science say that the climate system is far too complex for modest reductions in one of the thousands of factors involved in climate change (i.e. carbon emissions) to have a predictable effect in magnitude, or even direction.” About economic models, upon which Stern relied for his projections, her experience was that forecasting just two or three years ahead was usually wrong. She described the problem of drawing conclusions from combining scientific and economic models as ‘monumentally complex’. She doubted whether international cooperation was really possible. She concluded that she thought that this Review was designed to cloak the motives of a government that wanted some moral justification for increasing taxation on fuels.

An unconfirmed report on BBC 24 early Tuesday morning, October 31, stated that the White House had not yet seen a copy of the Stern Review.

In response to the Stern Report Australia‘s Prime Minister John Howard promised a AU$60 million to fight climate change. The projects are part of the Asia-Pacific Partnership on Clean Development and Climate. “The Asia-Pacific Partnership includes countries that represent about half of the world’s emissions, energy use, GDP (gross domestic product) and population, and is an important initiative that engages, for the first time, the key greenhouse-gas emitting countries in the Asia-Pacific region,” Mr Howard said in a statement.

A statement by Australian Greens senators Rachel Siewert and Christine Milne criticised the Australian Bureau of Agriculture and Resource Economics saying “ABARE indicated that the type of research undertaken for the Stern Report is beyond them. They can put a price on what ratifying the Kyoto protocol would cost but have no idea or capacity to put a price on the cost of not acting. They are tinkering around the edges of the problem and don’t seem to know whether climate change is real or whether there is any urgency.”

German intelligence participated in U.S. bombing of Iraq, media alleges

Friday, January 13, 2006

The Bundesnachrichtendienst (BND) helped the U.S. military during the 2003 invasion of Iraq, the daily Süddeutsche Zeitung, ARD‘s Panorama magazine and the Los Angeles Times concordantly reported on Thursday.

According to their information, two agents of the BND stayed in Baghdad during the war even after the German embassy was evacuated on March 17, 2003. A former “high-ranking official” in the U.S. Department of Defense told Panorama that the agents helped to track down targets throughout the Iraqi capital for the U.S. Defense Intelligence Agency (DIA) as they didn’t have enough reliable sources in Baghdad. A BND official, also speaking on condition of anonymity, told the Süddeutsche Zeitung that there was “no dumbness between the BND and DIA” during that time and that it was part of the BND’s “job” in Iraq to identify “non targets” like hospitals or embassies. He said this was authorized by the chancellor’s office.

The Pentagon informant of Panorama however said that the German agents were much more involved. A common saying during the war was supposedly: “Do we have anything from the Germans?” According to him, they drove to a restaurant in Mansur district of Baghdad on April 6th where Saddam Hussein was assumed to be dining. The BND agents reported back to the DIA that many Mercedes cars were parking there. As those cars were presumed to be of Saddam Hussein, the U.S. military conducted an air strike on the location. Hussein escaped, but twelve civilians were killed.

The BND confirmed that two of its agents operated in Iraq during the war but denied all other reports. A spokesperson told Panorama that it’s agency “did not provide target information or target coordinates to the warfaring parties.” The intelligence committee of the Bundestag exculpated the BND. Its chair Norbert Röttgen said that the in secret sitting committee, controlled by government parties, concluded with two-third majority that there are no indications that the agents aided the U.S. in selecting targets.

German foreign minister Frank-Walter Steinmeier called the accusations “schizophrenic” while opposition parties are demanding an parliamentary investigation committee. And during a visit of German chancellor Merkel to the White House, U.S. president Bush said in a response to a reporter’s question whether he knew anything about the allegations: “The truth of the matter is, the Chancellor brought this up this morning. I had no idea what she was talking about. The first I heard of it was this morning, truthfully”.

Global markets plunge

Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

Contents

  • 1 Stock markets
    • 1.1 Dow Jones Industrial Average
    • 1.2 FTSE 100
    • 1.3 Nikkei 225
  • 2 International reaction
    • 2.1 George W. Bush
    • 2.2 Gordon Brown
    • 2.3 Jim Flaherty
  • 3 Market data
  • 4 Sources

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

20:15, 10 October, 2008 (UTC)
  • DJIA
  • 8.451,19 128,00 1,49%
  • Nasdaq
  • 1.649,51 4,39 0.27%
  • S&P 500
  • 899,22 10,70 1,18%
  • S&P TSX
  • 9.264,57 335,61 3.50%
  • IPC
  • 19.952,30 357,87 1,76%
  • Merval
  • 1.215,990 71.340 5,54%
  • Bovespa
  • 35.615,26 1,474.03 3,97%
  • FTSE 100
  • 3.932,06 381,74 8,85%
  • DAX
  • 4.544,31 342,69 7,01%
  • CAC 40
  • 3.176,49 266,21 7,73%
  • SMI
  • 5.347,22 451,62 7,79%
  • AEX
  • 258,05 23,92 8,48%
  • BEL20
  • 2.123,44 117,44 5,24%
  • MIBTel
  • 15.438,00 1,081,00 6,54%
  • IBEX 35
  • 8.997,70 905,20 9,14%
  • All Ordinaries
  • 3.939,50 351,80 8,20%
  • Nikkei
  • 8.276,43 881,06 9,62%
  • Hang Seng
  • 14.796,90 1,146,37 7,19%
  • SSE Composite
  • 2.000,57 74,01 3,57%

    Laser Hair Removal: Get Permanent A Solution

    Laser Hair Removal: Get Permanent A Solution

    by

    Cutis Medical Laser Clinics

    The laser technology has taken a great revolution in the area of medical science and it is considered as the best alternate to cosmetic surgeries. It offers treatments solution for various skin issues such as wrinkles, dark spots, vein, eye bags, and many others. When it comes to get the solution to remove unwanted hair, laser technology becomes an operative option. No doubt, unwanted hair can cause self-esteem of people. If, we talk about the traditional methods of hair removal such as waxing and shaving, these were very painful, inconvenient, and temporary as well. Today, we are thankful to the incredible laser technology that now we have fabulous solution to remove unwanted hair without having any pain and inconvenience.

    Laser hair removal surgery as a painless treatment

    It is one of the most prominent features of laser surgery treatment to remove the unwanted hair is that it is painless. When we compare this treatment solution with other options of removing unwanted hair such as waxing, it is much more painless and patient feel very minimal pain while ripping the unwanted hair out at the root. It helps people to dissolve the root of the hair.

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    It offers a permanent solution

    It is an eminent fact that the laser technology offers a permanent solution to this problem. Earlier, people used to go for waxing and shaving options for removing hair. And as these methods were temporary, people have to follow them again after a certain time of period. It was very troublesome, as they had to approach the beauty salon twice in a month to get the treatment for hair removal and it used to cost them a lot as well. But, it is not like in the case of laser technology, as it is a long-lasting solution and people don t need to follow the procedure of hair removing again after a certain time.

    How the laser hair removal technology works?

    Now, you must be keen interested to know that how the laser technology works for eliminate annoying hair. This method is simple but at the same time it is ingenious as well and we can say that it is a good example of how developments in the area of science & technology endure to make life more satisfying. In this process, the lasers are used to get rid of hair are plagued towards the darker pigment, which appears on the roots of the hair. There are dual benefits of these plagued lasers; one is that hair follicles themselves are easily located for treatment, where the close cells are sheltered and other is that here, only melanin is affected by lasers, so the skin area that has a lighter pigment doesn t get spoiled.

    Here, you will glad to know that there are number of benefits going under the laser treatment for hair removal. For people, treatment cost matters a lot and so, they prefer to choose this method to get rid of this issue, as it is very cost-effective than spending bucks on waxing and shaving again and again in the beauty salon.

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    New edition of Canada’s Food Guide released

    Thursday, February 8, 2007

    A new version of Canada’s Food Guide was announced by Canadian Health Minister Tony Clement on Feb. 5, 2007. The guide has helped Canadians with healthy eating habits since 1942 but was last updated in 1992. It is the Canadian government’s most-requested publication after income tax forms.

    Changes to the Food Guide include:

    • a first-time recommendation to include a small amount of unsaturated fat in regular diets;
    • physical activity to complement healthy eating;
    • advice for some people to take vitamin supplements;
    • an advisory to limit foods with excess salt, sugar, fat and calories, which is considered an unprecedented caution regarding junk food.
    Examples of the Food Guide’s four groups (clockwise from top left): vegetables and fruit, grain products, meat and its alternatives, milk and its alternatives

    Oil spewing from crack in seafloor of Gulf of Mexico was fifty feet from Deepwater Horizon well

    Monday, July 19, 2010

    After an investigation, Wikinews has learned that oil spewing from a rupture in the seafloor of the Gulf of Mexico on June 13 was 50 to 60 feet from the Deepwater Horizon leak.

    A nearly four and a half minute video posted on YouTube on June 13 was from the Viking Poseidon ROV (Remote Operated Vehicle) 1. It shows oil and methane leaking from the seafloor at around 2:48 a.m. on June 13. The ROV monitors the leak for a minute and even gets covered in a plume of oil and sand before it moved on to the next spot. Smaller eruptions were seen as the ROV traveled, making the leak locations vary from 50 to 60 feet from the damaged well.

    Until now, there was no way to determine the location of the ROVs in relation to the previously leaking Deepwater Horizon well. Alexander Higgins, an independent computer programmer, developed the ‘Gulf Oil Spill ROV UTM Distance Calculator.’ Using the coordinates for the location of the Deepwater Horizon, and the location of the Viking Poseidon on June 13, Wikinews was able to determine that the first rupture and leak was approximately 50.45 feet from the leaking well or “21.56 feet [n]orth and 45.61 feet [w]est” of the Deepwater leak point.

    Higgins told Wikinews how he created the calculator, and says it is “very accurate,” but that the tool would “not give you accurate measurements over a large distance, e.g. from the well head to New Orleans.”

    “This tool was created using java script that uses basic Pythagorean theorem ( A 2 + B 2 = C 2 {\displaystyle A^{2}+B^{2}=C^{2}} ) to calculate the distance between two points. The distance is simply ( N 1 ? N 2 ) 2 + ( E 1 ? E 2 ) 2 {\displaystyle {\sqrt {(N_{1}-N_{2})^{2}+(E_{1}-E_{2})^{2}}}} . ROV coordinates match the location within a few feet when looking at the well because obviously the ROV can not be over the exact center because that is where the BOP is,” said Higgins.

    BP, who owned and operated the Deepwater Horizon, has denied that any oil or methane gas is leaking from the sea floor. On July 16, Kent Wells, the senior vice president of BP, said on their official Twitter page that “4 ROVs using sonar scanning [are] looking for anomalies in seabed floor. No indications any oil or gas escaping.” Seismic tests were conducted on July 16; Admiral Thad Allen of the United States Coast Guard said that “no anomalies” were found, but also that the tests were “not comprehensive.”

    On Sunday, Wikinews contacted BP, who authenticated the video, and asked if any ROVs were sent back to the crack and leak location on June 13 for further investigation. According to their office in London, England, they “sent ROVs to investigate and monitor that and no further signs of oil or gas were found.” They also stated that they “have continued to monitor” and “have also carried out seismic surveys. Nothing found to give concern.” Wikinews also asked if they could confirm the location of the leak and crack, but no response was given.

    However, on July 18, the Associated Press reported that there was “seepage” coming from the area at the bottom of the Deepwater well head. For the past two days, ROV cameras showed bubbles coming from the base of well. BP said it would test the bubbles to determine what they are and as of Sunday, COO of BP Doug Suttles says the bubbles are not methane, but further tests are being conducted. “If you can imagine, it is not an easy operation to collect those bubbles so that they can be tested to see what their make-up is.”

    Since the June 13 video surfaced, other videos have been posted to YouTube allegedly showing some of the ROVs being tossed around by large amounts of oil seeping through the seafloor. One video showed an alleged eruption spraying oil and debris around the BOA DEEP C 2 ROV before it was tossed from side to side. It then immediately retreated to the surface. Some of the cracks on ocean floors, where oil has leaked from, have occurred naturally. One such oil spill in California in 2005 was the result of a naturally occurring crack in the floor of the Pacific Ocean. Some of those cracks can cause oil to leak through at a rate as high as 5,000 gallons a day, with most of the oil not even reaching the water’s surface. In the Gulf of Mexico, oil leaks through natural cracks at a rate several times less than leaked from the Deepwater well.

    “The Deepwater Horizon site releases 3 to 12 times the oil per day compared to that released by natural seeps across the entire Gulf of Mexico. By May 30, the Deepwater Horizon site had released between 468,000 and 741,000 barrels of oil, compared to 60,000 to 150,000 barrels from natural seeps across the entire Gulf of Mexico over the same 39 day period,” said Cutler Cleveland, a Boston University professor at the university’s Department of Geography and Environment.

    The Deepwater Horizon oil spill started on April 20 after an explosion on the rig. Efforts to put out the fire failed and the rig subsequently sank to the bottom of the Gulf. On April 22, an oil slick appeared on the surface of the Gulf. BP capped the leaking well on July 13 which effectively stopped oil from leaking into the Gulf. The company has been running a pressure integrity test on the 150,000 pound cap for 48 hours. Earlier on July 17, they announced the test would continue for another day. BP hopes for the well’s pressure to rise to or above 7,500 PSI. As of Saturday morning the well’s pressure was just above 6,700 PSI. BP fears anything lower than the expected PSI could mean a leak in the cap or elsewhere, such as oil or methane seeping up from the seafloor.

    “We are feeling more comfortable we have integrity. We will keep monitoring and make the decisions as we go forward. The longer the test goes the more confidence we have in it,” said Allen.

    New edition of Canada’s Food Guide released

    Thursday, February 8, 2007

    A new version of Canada’s Food Guide was announced by Canadian Health Minister Tony Clement on Feb. 5, 2007. The guide has helped Canadians with healthy eating habits since 1942 but was last updated in 1992. It is the Canadian government’s most-requested publication after income tax forms.

    Changes to the Food Guide include:

    • a first-time recommendation to include a small amount of unsaturated fat in regular diets;
    • physical activity to complement healthy eating;
    • advice for some people to take vitamin supplements;
    • an advisory to limit foods with excess salt, sugar, fat and calories, which is considered an unprecedented caution regarding junk food.
    Examples of the Food Guide’s four groups (clockwise from top left): vegetables and fruit, grain products, meat and its alternatives, milk and its alternatives

    Google News seeks patent for search system that returns ‘quality’ links

    Tuesday, May 10, 2005

    Google News submitted patent applications both in the United States and world-wide in September 2003 for a system of ranking search returns. The patent protection filings seek to control Google’s approach that filters headlines through a complicated algorithm, including the quality of the news organization. How much of this system is currently in use by the search engine giant is unknown.

    Primitive search engines are expected to organically evaluate links based on how closely the keywords typed in the search field match an object link, and how many other links are attached to the object. Then a measure of relevance is calculated before returning a reply.

    It seems some measure of the work being done at Google is a reaction to search engine optimization (SEO) campaigns which can, if done effectively, skew results to certain domains. A challenge for Google is to develop its technology to nullify efforts on the dark side of SEO and link-spamming.

    What also seems to be coming out from this, according to research from the Internet Search Engine Database, is that Google does indeed have a ‘sandbox’ where domains are evaluated first by a human factor before being released into its algorithms.

    In its first ever Securities and Exchange Commission filing since the company went public last year, Google indicated that it intends to spend US$500 million on technology development, more than double the $177 million it spent two years ago.

    The language used in the lengthy patent application itself is difficult to understand. An excellent article titled “Google United – Google Patent Examined” found below, describes some of the nuts and bolts of Google’s techniques.

    Former Texas nurse charged with murder for allegedly injecting bleach into patients

    Thursday, April 2, 2009

    A former nurse from Texas is in jail after a grand jury in Angelina County indicted her over allegations she murdered patients by injecting bleach into them. Kimberly Saenz is suspected of killing five people at the DaVita Dialysis Center in Lufkin.

    A sudden string of deaths caused the center to close on April 28, 2008. The center reopened that July. Saenz was fired in April, and arrested last May under suspicion of having caused harm to two patients. It is now believed by authorities she injected ten people with bleach, killing five.

    Our patients and the caregivers have been outraged at how the alleged actions of one person have caused so much pain and trauma to so many

    She is accused of killing Clara Strange, Thelma Metcalf, Garlin Kelley, Cora Bryant and Opal Few and of harming Marva Rhone, Carolyn Risinger, Debra Oates, Graciela Castenada and Marie Bradley. The 35-year-old is being held without bond after turning herself in.

    DaVita’s regional vice president Larry Crisp said of the developments “The grand jury has issued an indictment for capital murder for the death of five patients and further, five additional indictments for aggravated assault. Our patients and the caregivers have been outraged at how the alleged actions of one person have caused so much pain and trauma to so many.”

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