...As a result of the rapid advance of shale technology, the United States now has an abundance of low-cost natural gas — at one-third the price of European gas. European industrial electricity prices are twice as high as those in some countries and are much higher than those in the United States. To a significant degree, this is the result of a pell-mell push toward high-cost renewable electricity (wind and solar), which is imposing heavy costs on consumers and generating large fiscal burdens for governments. In Germany, it was further accentuated by the premature shutdown of its existing nuclear industry after the 2011 Fukushima nuclear accident in Japan.
All this puts European industrial production at a heavy cost disadvantage against the United States. The result is a migration of industrial investment from Europe to the United States — what one CEO called an "exodus." It involves, not only energy-intensive industries like chemicals and metals, but also companies in the supply chains that support such industries.
U.S. Oil Production Keeps Rising Beyond the Forecasts →
Despite the 2013 increases, oil use in most developed countries remains well below the levels of 2007, the last pre-recession year. The United States is estimated to have used 8.5 percent less oil in 2013 than it did in 2007, while demand is down by about 25 percent in Italy and Spain, European countries that were hard hit by the euro area’s problems. Germany stands out, with 2013 usage equal to that of 2007.
Just as interesting:
In the developing world, oil use has been rising steadily. Demand in China and Brazil is up more than 30 percent since 2007, and India’s consumption is 17 percent higher.
The agency estimates that in 2014, the 34 mostly rich countries in the Organization for Economic Cooperation and Development will consume less than half the oil used in the world. That would be a first: As recently as 2004, their share was over 60 percent, and in 2013, it was estimated to be 50.5 percent.
Sisi running for president of Egypt, against previous promise
Sudan's president to announce government, constitution shake-up →
Bashir will announce wide-ranging political reforms in a live television address late on Monday, Rabie Abdelati, a senior member of the ruling National Congress Party (NCP), said.
"The president will invite the opposition parties today to participate in the preparation of a new constitution and to participate in organizing new elections and then in sharing in government," Abdelati said.
70 Killed in Iraq Violence; 65,000 Displaced in Anbar over Past Week →
More Oil Spills From Railroad Accidents in 2013 Than Past 40 Years Combined →
DESVARIEUX: So, Scott, let's take a look at the graph here. There were about 800,000 gallons of crude oil spilled in rail accidents between 1975 and 2012, and 1.15 million gallons spilled in 2013 alone. Why such a vast jump in the number of oil spills?
SMITH: Well, a couple simple reasons: a dramatic increase in volume from about 9,000 railcars in 2008 to 400,000 in 2013; and you've got an aging infrastructure for all this transport that's not adequately prepared to deal with the amount of traffic and the new explosive oils that are being pumped from beneath the surface of the earth.
Military brass, behaving badly: Files detail a spate of misconduct dogging armed forces →
It sounds like the military is stuck in an episode of Mad Men.
Tunisia Finally Passes Progressive Constitution →
The new constitution sets out to make the North African country of 11 million people a democracy, with a civil state whose laws are not based on Islamic law, unlike many other Arab constitutions. An entire chapter of the document, some 28 articles, is dedicated to protecting citizens' rights, including protection from torture, the right to due process, and freedom of worship. It guarantees equality between men and women before the law and the state commits itself to protecting women's rights.