LONDON, Nov 12 (Reuters) – The joint statement by the United
States and China on climate change, issued on Wednesday, is more
important for its political and diplomatic symbolism than any
practical effect it might have in reducing emissions.
The statement reiterates policies China and the United
States have been developing on their own and contains no new
binding limits on greenhouse emissions.
LONDON, Nov 10 (Reuters) – “The Silk Road, no longer just a
concept in history books, has evolved into a story of modern
logistics and Sino-European cooperation,” Yang Jiechi, China’s
top diplomat, told a conference this month.
The New Silk Road Economic Belt – from China across Central
Asia and Russia to Europe – and the 21st Century Maritime Silk
Road – through the Malacca Strait to India, the Middle East and
East Africa – have become the centrepiece of China’s economic
LONDON, Nov 6 (Reuters) – The Environmental Protection
Agency’s (EPA) Clean Power Plan could harm the reliability of
the power grid and may need to be modified before it is
In an initial review released on Wednesday, the North
American Electric Reliability Corporation (NERC) assessed how
proposed limits on greenhouse emissions from existing
fossil-fuelled power stations would affect the reliability of
the bulk power system (“Potential reliability impacts of EPA’s
proposed clean power plan”, Nov 5).
LONDON, Nov 6 (Reuters) – In the three months ending in
August, the United States and Canada swapped a record amount of
crude oil with each other, one of the more bizarre consequences
of outdated U.S. export controls.
Because U.S. oil producers cannot export crude oil to any
other country, crude is sent north to refineries in Canada, even
if it would make more sense to ship it to refineries in Europe,
Latin America or Asia.
LONDON, Nov 4 (Reuters) – Saudi Aramco cut the price of
December crude deliveries to U.S. refiners on Monday in order to
protect its competitiveness amid an erosion of its U.S. market
share by rival exporters such as Canada and Iraq.
In August, U.S. crude imports from Saudi Arabia slipped
below 900,000 barrels per day, according to the U.S. Energy
LONDON, Nov 3 (Reuters) – Cristina Fernandez, president of
Argentina, is the sort of populist political leader financial
markets love to hate.
For business interests and the media, she has become an
archetypal villain, a symbol of everything that has gone wrong
with the country’s economy over the last century.
LONDON, Oct 31 (Reuters) – Gasoline prices in all parts of
the United States are tied to Brent rather than the domestic
crude oil benchmark WTI, according to a detailed study published
on Thursday by the Energy Information Administration (EIA).
The EIA study removes the last principled objection to
lifting the ban on U.S. crude oil exports – namely that it would
lift domestic oil prices and through them the cost of filling up
at the pump.
LONDON, Oct 30 (Reuters) – According to many commentators,
cheap natural gas is producing a renaissance in U.S.
manufacturing and putting European competitors at a
But empirical studies show the impact has been small and
concentrated in a handful of energy-intensive industries that
account for only a small share of manufacturing value-added.
LONDON, Oct 30 (Reuters) – “If you can keep your head when
all about you are losing theirs and blaming it on you,” is the
famous opening line of a poem by Rudyard Kipling that was once
voted Britain’s favourite verse.
Published at the start of the 20th century, when Britain’s
empire was at its greatest extent, “If” captures the country’s
self-image as phlegmatic and unflappable.
LONDON (Reuters) – “In a very real sense, the North American electricity market is borderless,” Canada’s electric industry wrote to U.S. energy regulators last month.
There are more than 35 high-voltage connections across the border. Another six lines will be in service by the end of the decade or are planned, the Canadian Electricity Association wrote to the U.S. Department of Energy, which is currently conducting the first Quadrennial Energy Review.