Word: oil
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...Latin America, these past five years have seen the best growth run in memory, and so far signs of slowdown outside the U.S. and Europe are few. India and China are posting astonishing growth numbers, while economies of countries from Africa to Latin America that export raw materials, like oil from Nigeria and copper from Chile, have benefited from high commodity prices - themselves a function of the Asian giants' performance. "The economic bleakness in the West I don't think is matched by economic bleakness in the East," says Kamal Nath, India's Minister of Commerce and Industry. There...
...Exporters would benefit, though they account for only 12% of the economy. A gradual global slowdown would also give the Fed far more room to maneuver without the threat of stoking inflation. But there are downsides too: the U.S. would see high energy prices as Asia's demand for oil kept soaring, a continued dollar slump as low interest rates made it less attractive to hold dollar-denominated securities, and the threat of rising inflation as a weak dollar made imports more expensive. And a global recession (generally defined as growth of less than 2.5%; since the Depression, global growth...
...climate change as a pressing threat to national security. This danger is perceived to be physical, in the form of rising seas and superstorms, as well as geopolitical. Remaining addicted to fossil fuels mires the U.S. in the labyrinth of Middle East politics and keeps the country dependent upon oil-rich antagonists such as Iran and Russia. Conservatives who have jumped the fence on global warming have done so chiefly because of this issue. Many were convinced after a panel of retired generals and admirals delivered a report last year warning of the security implications of rising temperatures, including resource...
...which kind of photovoltaic technology works best in Abu Dhabi's punishing environment. (Extreme heat and dust - common in the desert - can reduce the efficiency of many solar panels.) For Gulf nations like the UAE, blessed with no shortage of sunlight, solar power could potentially be the oil of the future. "I think there is great, great potential here," says project manager Sameer Abu Zaid, as he toured the testing facility, the sound of the call to evening prayers echoing over the desert. "This is very exciting...
...emphasize, when they weren't announcing a new hydrogen plant, almost every projection of energy use over the next several decades says that fossil fuels aren't going anywhere. Abu Dhabi will develop hundreds of megawatts of clean solar power, but it will export far more polluting power in oil - because the world will need it and there is nothing else feasible to replace it. "The World Future Energy Summit is nothing less than the future of the world itself," said Jonathan Porritt, founder of the UK sustainability organization Forum for the Future, one of the few speakers...