As oil prices tumble.

Aljezeera news had this headline today and just thought of sharing with you guys given recent developments.
As global oil prices tumble , we ask why the country that is
OPEC ‘s kingpin is doing nothing to stop it .
There are winners and losers in every economic situation , but
few have the impact of one involving oil . The price of Brent
crude, which at one time priced 90 percent of the world ‘s oil ,
has tumbled by one- fifth . And analysts believe the price
could fall to as low as $ 60 a barrel.
Already at $ 80 , it is a major adjustment for countries trying
balance their budgets . And the question is not what, but who is
driving oil prices , and what the fallout means for ordinary
people and the global economy .
Many would expect Saudi Arabia to be defending higher
prices , but that is not exactly the case . So why is Saudi doing
this? And what will be the outcome for everyone else ? The
answer depends on where you are standing.
In Russia , the belief is that this is punishment for what has
happened in Ukraine and for Russia’ s ongoing support of
Syria’s Bashar al – Assad . While in the shale fields of the
United States , it is thought the Saudis are trying to maintain
lucrative oil contracts with Asia , which would set back those US
company attempts to get their export ban lifted by
Washington. At $ 80 a barrel, US oil companies would need to
shut down or cancel new shale projects .
For some perspective on the current situation , Hilda Mulock-
Houwer, the global head of energy at KPMG, speaks to
Counting the Cost about the different theories behind Saudi
Arabia not defending higher oil prices and the impact on the
global economy .
Tunisia’ s youth unemployment crisis
Four years ago, Tunisia was the trigger for the rest of the
Arab Spring. And the trigger for so much of the Arab world ‘s
revolution was jobs . Joblessness and the economy are
important things everywhere in the world .
From Tunisia , where 17 percent of people are still jobless and
almost one- third of graduates cannot find work , Al Jazeera’ s
Nazanine Moshiri filed a report ahead of the elections .
Kenya’s economic revision
Kenya has revised the size of its economy by reinterpreting
the figures and the measures used to create a new reality .
It is now the ninth – largest economy on the African continent .
But despite that , Kenya does have a vision – on paper at
least. And the man charged with charting a course for
Kenya’s economy is Gituro Wainaina , the CEO of Vision 2030 in
Kenya. He speaks to Counting the Cost from Nairobi.
Al Jazeera ‘s Catherine Soi also investigates whether an
economic revision means anything to the everyday Kenyan.
Chile’s unstealable bikes
Finally this week, we look at bicycles , which are the number
one form of transportation in the world .
Easy to use , cheap , environmentally friendly , and ridiculously
easy to steal – except for one from Chile, which is the
unstealable bike . Lucia Newman met its inventors in Santiago .

As oil prices tumble.

Aljezeera news had this headline today and just thought of sharing with you guys given recent developments.
As global oil prices tumble , we ask why the country that is
OPEC ‘s kingpin is doing nothing to stop it .
There are winners and losers in every economic situation , but
few have the impact of one involving oil . The price of Brent
crude, which at one time priced 90 percent of the world ‘s oil ,
has tumbled by one- fifth . And analysts believe the price
could fall to as low as $ 60 a barrel.
Already at $ 80 , it is a major adjustment for countries trying
balance their budgets . And the question is not what, but who is
driving oil prices , and what the fallout means for ordinary
people and the global economy .
Many would expect Saudi Arabia to be defending higher
prices , but that is not exactly the case . So why is Saudi doing
this? And what will be the outcome for everyone else ? The
answer depends on where you are standing.
In Russia , the belief is that this is punishment for what has
happened in Ukraine and for Russia’ s ongoing support of
Syria’s Bashar al – Assad . While in the shale fields of the
United States , it is thought the Saudis are trying to maintain
lucrative oil contracts with Asia , which would set back those US
company attempts to get their export ban lifted by
Washington. At $ 80 a barrel, US oil companies would need to
shut down or cancel new shale projects .
For some perspective on the current situation , Hilda Mulock-
Houwer, the global head of energy at KPMG, speaks to
Counting the Cost about the different theories behind Saudi
Arabia not defending higher oil prices and the impact on the
global economy .
Tunisia’ s youth unemployment crisis
Four years ago, Tunisia was the trigger for the rest of the
Arab Spring. And the trigger for so much of the Arab world ‘s
revolution was jobs . Joblessness and the economy are
important things everywhere in the world .
From Tunisia , where 17 percent of people are still jobless and
almost one- third of graduates cannot find work , Al Jazeera’ s
Nazanine Moshiri filed a report ahead of the elections .
Kenya’s economic revision
Kenya has revised the size of its economy by reinterpreting
the figures and the measures used to create a new reality .
It is now the ninth – largest economy on the African continent .
But despite that , Kenya does have a vision – on paper at
least. And the man charged with charting a course for
Kenya’s economy is Gituro Wainaina , the CEO of Vision 2030 in
Kenya. He speaks to Counting the Cost from Nairobi.
Al Jazeera ‘s Catherine Soi also investigates whether an
economic revision means anything to the everyday Kenyan.
Chile’s unstealable bikes
Finally this week, we look at bicycles , which are the number
one form of transportation in the world .
Easy to use , cheap , environmentally friendly , and ridiculously
easy to steal – except for one from Chile, which is the
unstealable bike . Lucia Newman met its inventors in Santiago .

EU reaches deal on CO2 emissions

This could be a step in the right direction for mankind as European Union leaders agree to cut greenhouse gas emissions
by 40 percent by 2030, and set renewable energy targets .
European Union leaders have reached what they described as
the world ‘s most ambitious climate change targets for 2030,
paving the way for a new UN – backed global treaty next year.
The 28 leaders on Friday finally overcame divisions at an EU
summit in Brussels to reach a deal including a commitment to
cut greenhouse gas emissions by at least 40 percent compared
to 1990 levels.
They also agreed on 27 percent targets for renewable energy
supply and efficiency gains, despite of reservations from
some member states about the cost of the measures .
“Deal ! At least 40 percent emissions cut by 2030. World ‘s most
ambitious , cost- effective , fair EU 2030 climate energy policy
agreed, ” EU president Herman Van Rompuy tweeted .
The EU wanted to agree on the targets ahead of a summit in
Paris in November and December 2015, where it is hoped the
world will agree to a new phase of the Kyoto climate accords
which run until 2020.
The agreement puts the EU “in the driving seat” ahead of the
Paris conference , European Commission head Jose Manuel
Barroso said .
Environmental groups said the deal did not go far enough to
cut global warming .
The climate deal builds on the EU ‘s targets for 2020 of a 20
percent cut in greenhouse gases, blamed for global warming ,
a 20 percent boost in renewables such as solar and wind power
and a 20 increase in energy efficiency .
While the new 40 percent target for greenhouse gases and 27
percent for renewables agreed Friday were as expected, a 30
percent goal for an increase in energy efficiency set in July
by the Commission was watered down to 27 percent .
Environment group Greenpeace said the EU had “pulled the
handbrake on clean energy “.
“These targets are too low , slowing down efforts to boost
renewable energy and keeping Europe hooked on polluting and
expensive fuel , ” it said British- based humanitarian group
Oxfam called for targets of 55 percent in emissions cuts , 40
percent for energy savings and 45 percent for renewables.

as reported on Aljezerra news