Updatingofcommoditystocks

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Move away would need transformation in whole economy as heavy industries such as steel, cement and chemicals heavily depend on coal.The government has already been trying to boost less polluting sectors of the economy, such as high‐tech, and in fact coal use fell by a percentage point last year.60 REMOVAL OF GOVERNORS 60 INDIA’S EBOLA READINESS 61 Steps Taken .............................................................................................................................................

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Challenges Coal still fuels about 80% of China’s electricity.

No clarity on x‐axis( time) as to whether emissions would plateau or decline quickly or slowly after that. Now it is being speculated that prices may even fall to the level in the near future.

Moreover, China’s increase in emissions till 2030 will dwarf, US’s decreases and hence overall global emissions will continue to rise. On Dec 1st , one benchmark, West Texas Intermediate (WTI) was trading at less than per barrel. One reason for this decline was the discovery of huge non‐traditional hydrocarbon sources, especially shale reserves in North America.

The increase in oil and product stock levels in OECD countries coupled with the ongoing rise in non‐OECD inventories, are indications of an extremely well‐supplied market. The decision not to cut production went against the demand of OPEC members like Iran and Venezuela, who had demanded that production be cut.

A falling oil price is hurting these countries badly given that money earned from selling oil is a major source of revenue for the respective governments.

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