Word: globalization
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Dates: during 2000-2009
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That's no reason to party. Here's why: unlike the global crude-oil market, the market for natural gas is incredibly localized. The U.S. produces nearly 90% of what it consumes, and the rest is imported from Canada or from overseas - the latter amounting to only about 2.5% of U.S. consumption. Thus, a glut of domestic gas doesn't really affect imports...
...market will be priced in steep contango, meaning prices of natural gas for future delivery will hang far above the current price. The low prices now represent the abundance of unusable and potentially unstorable gas, a situation that will not last. (Read "Can Steven Chu Win the Fight Over Global Warming...
...chairman, Ed Whitacre, isn't convinced that a sale is in the company's best interests. He still sees GM as a global manufacturer and is determined to retake the No. 1 spot from rival Toyota. To do so, GM needs a European manufacturing base. At the very least, GM wants to avoid creating a new competitor by providing the dowry for a tie-up among Magna, Sberbank and Opel. So on Aug. 21, the GM board rejected Merkel's plan and sent point man Smith back to Berlin. (Read "Busting Out: German Pol Plays the Cleavage Card...
...cleanup projects. A small, courageous network of NGOs is naming and shaming the worst polluters. The huge number of pollution-related protests-an estimated 50,000 took place in 2005-unambiguously demonstrates grass-roots resentment of the ecological burden of industrialization. So did a survey by the Pew Global Attitudes Project about a year ago, which found that some 80% of Chinese felt protecting the environment should be a priority-a stark contrast to the global perception of the Chinese as a people in feckless pursuit of wealth...
...McElwee, "the old-fashioned green" of money has become equated with "the new green" of such industries as alternative fuels and energy-efficient materials. That's not as far-fetched as it sounds. In fact, as the Climate Group outlined in an August report, China is already a global leader in environmental technology. It is the world's largest manufacturer of electric bicycles, and may dominate production of electric cars. Chinese factories churn out 30% of the world's solar panels-including those used in Baigong village-and the country is doubling its wind-power capacity annually. "This...