Word: gas
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Indeed, voters in Utrecht seem more concerned by the antics of Dutch anti-Muslim populist Geert Wilders than they are with, say, the E.U.'s plan to cut greenhouse-gas emissions by 20% by 2020. Wilders wants to abolish the European Parliament altogether. "Every voter who wants to signal that the European Union is good for nothing in its current form can do so by voting for Geert Wilders," he said. His PVV party, like other political outliers, is expected to benefit from mainstream voter apathy. The Trotskyite anti-capitalist movement of Olivier Besancenot could muster 10% of France...
...Fueled by abundant and cheap gas and the availability of rubber-tire production, the U.S. vehicle market grew to a 16 million-unit-per-year business. This year that number will be under 10 million, which will cause nearly every auto company doing business in the U.S. to show red ink. (See the 50 worst cars of all time...
...According to the U.N.'s Food and Agriculture Organization, meat production accounts for 18% of annual greenhouse-gas emissions - more than transportation, which accounts for roughly 14%. Each year, millions of acres of rain forest are cleared for cattle ranchers and suppliers of animal feed, further accelerating climate change. Then there are the urgent human-health issues: the world feeds much of its grain to cattle and other animals even as millions of people starve. Those wealthy enough to consume fatty animal products are themselves at higher risk of certain health problems, including heart disease and some cancers. (See pictures...
...prices could still block a recovery. Just a month ago, no one believed that gas could possibly hit $3. A heavy summer driving season and forecasts of a cold winter in the northern hemisphere would transform the psychology of crude trading and make the majority opinion that oil will rise throughout the year, whereas in the early spring nearly everyone was convinced that it would fall...
...Kudrin said that even a 5% budget deficit - lower than Medvedev's new prediction - would be enough to exhaust the government's $113 billion Reserve Fund, which is generated mostly through oil and gas export revenues. But he said that since the government is tightening spending and basing its budget on "conservative" oil price forecasts of $50 a barrel in 2010, $52 in 2011 and $53 in 2012, he believes the fund could begin replenishing itself as early as in 2011. Part of the reason for Russia's current predicament is earlier over-optimistic estimates for oil revenues, which make...