Word: gas
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...booming global economy, are viewed suspiciously by those who fear foreign powers might use them to gain competitive advantages or push political agendas. But now, thanks in part to the bank deals, some fears have been allayed; companies in need of capital are courting investments from oil- and gas-rich states such as Abu Dhabi and Russia as well as from rising economies like China, which recently formed a $200 billion SWF to help the government invest its burgeoning foreign exchange reserves. SWFs, says a senior banker at JPMorgan Chase, "are the new It girl of global finance. Everyone wants...
...other states the right to set their own standards for carbon dioxide emissions from automobiles was an unpleasant surprise, even by Bush standards. The announcement, made by EPA Administrator Stephen Johnson, temporarily torpedoes state efforts led by California to drastically reduce CO2 emissions from cars by treating the greenhouse gas as a pollutant that could be regulated like any other. The California initiative, part of the state's landmark climate change plan, could have provided a nationwide model for cutting automobile emissions, one of the single biggest sources of greenhouse gas in the U.S. "The Administration has done a number...
...Bali on the next stage of global climate change negotiations after the Kyoto Protocol expires in 2012. The E.U. executive says that if Europe is to stake a credible claim for leadership on climate change, it will have to show serious resolve in cutting car emissions, the main gas blamed for global warming...
...German carmakers like BMW, Mercedes-Benz and even Volkswagen (through its subsidiary Audi) dominate the European market for high-performance, luxury vehicles. They resent being blamed for global warming, and say it is unfair that they have to bear the lion's share of cuts to meet greenhouse gas targets. A spokesman for BMW said, "Premium manufacturers are being disproportionately burdened and makers of small cars have to do little." Volkswagen called the penalty regime an "unacceptable burden...
...emissions from German cars actually increased by 0.6 percent. "Germany's fine automotive engineers should be focusing on making cars leaner and more fuel efficient," said T&E director Jos Dings. "Sadly, based on recent progress, they mostly seem to be intent on building ever heavier, larger and more gas-guzzling cars that simply don't belong in the 21st century...