At the recent US summit of largest greenhouse gas emitters, the Bush government presented a matrix of US policy achievements to convince others that the US administration is tackling climate change. Seven NGOs reworked the document and tell the “true story” behind the US climate/energy policy. Anyone who volunteers to produce a similar matrix for EU policies? I am sure it would also show more rhetoric than reality.
CNBC TV today had an interesting interview with CIBC World Markets chief economist, Jeff Rubin. Mr. Rubin expects oil prices of 100 dollars next year as oil exporters will increasingly use their production for domestic use. The export capacity of OPEC, Russia and Mexico will drop 2.5 million barrels a day by 2010, according to CIBC. Most of the oil producing countries subsidise gasoline prices leading to surging rates of domestic oil production. More on the Low Carbon Kid blog.