Word: fuel
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...guzzling Iran could cut its consumption. As any visitor can testify, driving across Tehran can take hours in clogged traffic, which barely eases up at night. That's because Iran's regime, keen to keep voters happy, heavily subsidizes gas. Iranians are entitled to 26 gal. (100 L) of fuel a month at 38 cents per gal. (about 10 cents per L) - a tiny fraction of what it costs in the U.S. or Europe. If the U.S. blocked imports of refined gas, Tehran could simply ease its subsidies while pointing to Washington as the cause of the pain. As Iranian...
...Chinese multinational corporations rank among FORTUNE's top 500 global companies, up from just six a decade ago, while 450 out of the FORTUNE 500 American companies have production lines and a business presence in China. China has become the world's largest recipient of foreign direct investment. To fuel its economic boom, China's voracious and insatiable appetite for raw materials has led it to absorb large amounts of global commodities. China now consumes 16% of global energy resources and is the world's third largest consumer of oil. (Read "Can China Save the World's Economy...
Still, the summit wasn't a total loss for greens. President Barack Obama introduced the idea of phasing out fossil fuel subsidies over time, to help improve energy efficiency and "transition to a 21st-century clean energy economy." Phasing out subsidies for fossil fuels would save money - the Environmental Law Institute estimated that the U.S. paid out $72 billion in subsidies between 2002 and 2008 - and correct a market that has been warped against low-carbon alternatives precisely at a time when nations are supposed to be cutting carbon. But again, specifics of a concrete plan were wanting in Obama...
...resolved through cooperation. In fact, and issue can be resolved through cooperation provided it is a form of collaboration based on honesty, sincerity, and on the observance of the principle of justice among nations. We have said that for our reactor in Tehran for example, we do require fuel in which to the level of 20 percent. This can be a good start for a cooperation area. We even went farther to suggest that our nuclear experts can work together. I mean these are very good, solid proposals to talk...
...Peter Churchouse, a director at a Hong Kong investment research and advisory firm, says he doesn't think Hong Kong's housing market is a bubble. But some analysts worry that low interest rates, high liquidity and a tight supply of new apartments could fuel irrational exuberance. Churchouse says: "I could easily see this market developing into a bubble, but it's not a bubble yet." That should be of some comfort for the buyer who just paid $3.16 million for a 590 sq. ft. apartment...