Archive
Reuters blog archive
from The Great Debate:
The looming U.S.-China rivalry over Latin America
President Barack Obama meets with Chinese President Xi Jinping (L) in California, June 7, 2013. REUTERS/Kevin Lamarque
Though the U.S. and Chinese presidents heralded a “new model” of cooperation at their weekend summit, a growing competition looks more likely. The whirlwind of activity before President Barack Obama met with President Xi Jinping in the California desert revealed that Beijing and Washington’s sights are set on a similar prize -- and face differing challenges to attain it.
Their focus is Latin America and the prize is increased trade and investment opportunities in a region where economic reforms have pulled millions out of poverty and into the middle class. Latin America is rich in the commodities and energy that both China and the United States need, largely stable politically and eager to do deals.
Consider the travel itinerary: Obama visited Mexico and Costa Rica last month. Vice President Joe Biden recently went to Colombia, Trinidad and Tobago and Brazil. Chile’s president paid Obama a visit last week, Peru’s leader arrived Tuesday and Brazil’s is due in October.
from Breakingviews:
Efficiency revolution would put shale to shame
By Kevin Allison and Christopher Swann
The authors are Reuters Breakingviews columnists. The opinions expressed are their own.
Move over, shale. Fracking might produce roughly the equivalent of 15 million barrels of oil (boe) a day by 2050 in the United States, more than Saudi Arabia’s crude output. But investments in already available technologies to boost energy efficiency could save 23 million boe per day in the United States, according to a lobby group. Bad information and skewed incentives are keeping most of this low-hanging fruit on the tree.
from Breakingviews:
Europe rightly throws shade on solar tariffs plan
By John Foley
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own)
European opposition to tariffs on Chinese solar panels sounds like turkeys voting for Christmas. After all, China has used cheap state financing to lower the cost of making solar equipment - and European companies like Germany’s Solar World have borne the brunt. Yet the reluctance of most EU member states to back proposals for a punitive tariff is smart. In a world of cross-border supply chains, Europe has too much to lose by pushing the point.
from Global Investing:
Turkey: investment grade, peace and FDI?
Turkey's elevation to investment grade last week may or may not be a game changer for its stock and bond markets, but the country is really hoping for a boost to FDI - bricks-and-mortar foreign direct investment into manufacturing or power generation. Its peace process with Kurdish separatists should help.
Speaking last week at Mitsubishi-UFJ's annual Turkey conference, Finance Minister Mehmet Simsek cited data showing an average 2 percentage-point pick-up in FDI in the two years immediately after a country moves into investment grade.
from Ian Bremmer:
Washington’s scandals won’t stunt America’s recovery
Scandal has visited the Obama administration, and thanks to the media narrative it’s larger than the sum of its parts. With a talking-point imbroglio after Benghazi, the IRS’s discriminatory practices and the Justice Department’s procurement of Associated Press phone records, the Obama administration and its allies are right to be worried.
But those of us invested in U.S. growth have little reason to fret. The past few years have proved that dysfunction in Washington has almost no effect on America’s attractiveness to investors. As the rates of U.S. Treasury bonds prove, America continues to be the place for investors to park their money. That’s because petty politics don’t control the fate of the country.
from Breakingviews:
Shell must hope Voser successor mimics his ways
By Kevin Allison
The author is a Reuters Breakingviews columnist. The opinions expressed are his own
When a chief executive unexpectedly leaves to spend more time with his family, it's usually a cue to start a post-mortem into a failed tenure. Shell looks like an exception. Actually, it is shame Peter Voser is leaving. The Anglo-Dutch oil major could do worse than hope his successor mimics his ways.
from Breakingviews:
Exxon Mobil running hard just to stand still
By Christopher Swann
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Exxon Mobil is having to run hard just to stand still. The world’s biggest company is pumping only a trickle more oil than 12 years ago - and maintaining even that is getting more expensive. Only buybacks are making growth in earnings per share look decent.
from Breakingviews:
New oil dynamics may challenge crude growth logic
By Christopher Swann and Kevin Allison
The authors are Reuters Breakingviews columnists. The opinions expressed are their own.
Fears for the wobbly world economy have pushed Brent crude below $100 a barrel for the first time since July. Long-term trends at work in the oil market mean it could stay depressed. That’s good, since cheaper energy helps industry. Better still, booming shale output, greater efficiency and the rise of natural gas as a rival transport fuel may keep the oil price subdued even as growth is stimulated.
from Photographers Blog:
Adventures on the western frontier
North Dakota
By Shannon Stapleton
It had been a couple months since I traveled somewhere to cover an assignment and I have to admit I was really looking to get out of town.
So when I heard that the Reuters text operation was covering a story in Williston, North Dakota on the Bakken Oil boom I thought it would be the perfect opportunity to visit a place that I had never been before. That same day I picked up the month's edition of National Geographic and saw on the cover that one of my favorite photographers Eugene Richards had spent some time there this past summer. I was excited to embark on an adventure to the western frontier and see for myself this modern day gold rush.
from Breakingviews:
How to go public and private all in one go
By Robert Cyran
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
A Brazilian company seems to have found a way to go public and private all in one go. Biosev, an ethanol producer, is preparing to sell new shares next month. As part of the deal, parent company Louis Dreyfus is offering to buy them back in 15 months. It’s essentially an initial public offering, convertible bond and potential buyout packaged together. And it’s an overly clever solution to a unique problem.
