The Great Recession gave birth to a lost generation across the world, where youth unemployment rates stretch into the 20s, 30s and even 40s. Those millions have responded with violence.
The riots and fires consuming London are a story about senseless violence and crime. They are also a story about urban politics, race relations, education inequality, and British culture and society. But underneath all of that, they are part of an economic story that is universal.
For the last year, Great Britain has embraced austerity to a degree that would make some American conservatives blush. The purpose of shrinking government was to reduce debt. But the effect has been to kill the economy. With the UK tottering on the razor’s edge of recession, consumer confidence is at a record low, unemployment is rising, and even the Read more…
CALGARY, Alberta: In the northern reaches of Alberta lies a vast reserve of oil that the U.S. views as a pillar of its future energy needs.
China, with a growing appetite for oil that may one day surpass that of the U.S., is ready to spend the dollars for a big piece of it.
The oil sands of this Canadian province are so big that they will be able to serve both of the world’s largest economies as production expands in the coming years. But that will mean building at least two pipelines, one south to the Texas Gulf Coast and another west toward the Pacific, and that in turn means fresh environmental battles on top of those already raging over the costly and energy-intensive method of extracting oil from sand.
Most believe that both will eventually be built. But if the U.S. doesn’t approve its pipeline promptly, Canada might increasingly look to China, thinking America doesn’t want a big share in what environmentalists call “dirty oil,” because they say it increases greenhouse gas emissions.
Alberta has the world’s third largest oil reserves, more than 170 billion barrels. Daily production of 1.5 million barrels from the oil sands is expected to nearly triple to 3.7 million in 2025. Overall, Alberta has more oil than Read more…
Categories: Canada, China, Oil
Alberta, Canada, China, Iran, middle east, Oil, PetroChina, Russia, Saudi Arabia, Syncrude, United States, Venezuela
Yemenis protesting against the government in Sana’a
27 May 2011 – The United Nations human rights office today voiced alarm at the escalating violence in Yemen, which it said may push the country to the brink of civil war, and called on the Government to stop its deadly crackdown.
The Office of the UN High Commissioner for Human Rights (OHCHR) said it is trying to confirm reports it has received of dozens of civilian casualties, including women and children, in the fighting over the past few days, as well as reports of shelling by Government troops in residential areas.
The death toll has reportedly approached 100 since fighting began Monday after Yemen’s President, Ali Abdullah Saleh, refused for a third time to sign a deal to transfer power amid the pro-democracy protests that began earlier this year.
“The dangerous escalation of violence in Yemen over the past few days is very Read more…
President Barack Obama meets with Israel’s Prime Minister Benjamin Netanyahu in the Oval Office at the White House in Washington, May 20, 2011.
WASHINGTON (Reuters) – When Israeli Prime Minister Benjamin Netanyahu addresses Congress on Tuesday, many will be watching to see whether he escalates a war of words with the White House over how to make peace in the Middle East.
Netanyahu has a mostly sympathetic ear in Congress, where few lawmakers in either party speak up for the Palestinians, hewing to decades of Read more…