The 2008 hurricane season officially begins on Sunday, and active season could have serious implications for energy prices."Just the mere threat of a hurricane, if it comes from June to September 15, is probably enough to send prices up 25 cents or more just on the proviso that it could hit the U.S. Gulf Coast," says Tom Kloza, senior analyst at the Oil Price Information Service.As high as energy prices are, traders have barely begun to factor in the risk of a hurricane, according to Kloza, and that could be a problem. The government is predicting as many as nine hurricanes this season, and Colorado State University's William Gray sees as many as eight.
The 2008 hurricane season officially begins on Sunday, and active season could have serious implications for energy prices.
"Just the mere threat of a hurricane, if it comes from June to September 15, is probably enough to send prices up 25 cents or more just on the proviso that it could hit the U.S. Gulf Coast," says Tom Kloza, senior analyst at the Oil Price Information Service.
As high as energy prices are, traders have barely begun to factor in the risk of a hurricane, according to Kloza, and that could be a problem.
The government is predicting as many as nine hurricanes this season, and Colorado State University's William Gray sees as many as eight.
This is the froth, the issue is the high price of oil for a country that has based its entire lifestyle on an increasingly expensive (and obviously diminishing) resource. keep to the Fen Causeway
At least six people died and more were injured in a car bombing outside the Danish embassy in Islamabad, Pakistan. An officer at the scene said there were no diplomats among the dead and injured. The suicide blast came from a car bomb, officials said. More than 30 people were injured, and a huge crater was left in front of the building, officials at the scene said. Past protests about Mohammed caricatures Several cars were destroyed by the force of the explosion, a reporter at the scene said. Security forces had roped off the attack site. No one claimed responsibility for the bombing. In the past, radical Islamic terror groups have led similar attacks. In early 2006, and then again in February of this 2008, caricatures of the prophet Mohammed published in the Danish media set off widespread protests in Pakistan. Denmark had recently downgraded the embassy and moved out most foreign staff due to threats from those earlier protests.
An officer at the scene said there were no diplomats among the dead and injured.
The suicide blast came from a car bomb, officials said. More than 30 people were injured, and a huge crater was left in front of the building, officials at the scene said.
Past protests about Mohammed caricatures
Several cars were destroyed by the force of the explosion, a reporter at the scene said. Security forces had roped off the attack site.
No one claimed responsibility for the bombing. In the past, radical Islamic terror groups have led similar attacks.
In early 2006, and then again in February of this 2008, caricatures of the prophet Mohammed published in the Danish media set off widespread protests in Pakistan. Denmark had recently downgraded the embassy and moved out most foreign staff due to threats from those earlier protests.
The UN nuclear agency has said that Syria is to allow inspectors to visit the country to investigate allegations that it was building a nuclear reactor. The International Atomic Energy Agency says its inspectors are due in Syria between the 22 and 24 June. The alleged nuclear site was bombed by Israeli jets in September 2007. In April, the United States accused North Korea of helping Syria build a nuclear reactor that "was not intended for peaceful purposes".
The UN nuclear agency has said that Syria is to allow inspectors to visit the country to investigate allegations that it was building a nuclear reactor.
The International Atomic Energy Agency says its inspectors are due in Syria between the 22 and 24 June.
The alleged nuclear site was bombed by Israeli jets in September 2007.
In April, the United States accused North Korea of helping Syria build a nuclear reactor that "was not intended for peaceful purposes".
Abu Dhabi: Syria has presented to Israel its vision of peace between the two countries and is waiting for the Israeli response, President Bashar Assad said here on Monday. "The talks with Israel continue through the Turkish mediator and we have presented our vision for peace, based on the principles of land for peace and now we are waiting for the Israelis to respond," the Syrian president told Gulf News. "We will not offer any concessions. The conditions for peace are clear." He was speaking in a meeting with the editors-in-chief of UAE newspapers in the second day of his visit to the UAE. On the first day of his visit, Al Assad held official talks with the President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on ways to improve bilateral and Arab relations.
Abu Dhabi: Syria has presented to Israel its vision of peace between the two countries and is waiting for the Israeli response, President Bashar Assad said here on Monday.
"The talks with Israel continue through the Turkish mediator and we have presented our vision for peace, based on the principles of land for peace and now we are waiting for the Israelis to respond," the Syrian president told Gulf News. "We will not offer any concessions. The conditions for peace are clear."
He was speaking in a meeting with the editors-in-chief of UAE newspapers in the second day of his visit to the UAE. On the first day of his visit, Al Assad held official talks with the President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on ways to improve bilateral and Arab relations.
ROME: Brazilian President Luiz Inacio Lula da Silva said on Sunday he would seek to convince world leaders gathering in Rome this week that ethanol is not to blame for global food inflation threatening millions with hunger. Brazil is the world's largest ethanol exporter and a pioneer in sugar-cane based biofuels, making it a target of critics who say ethanol is behind increases in world commodity prices. Lula said the U.N. summit on food security which begins on Tuesday would give Latin America's biggest economy an opportunity to shape the debate about biofuels -- and hopefully win over some sceptics. "This gathering that the (U.N. Food and Agriculture Organisation) is promoting will be a great opportunity for Brazil," Lula told reporters in Rome ahead of the event. "I'm convinced that we're at the beginning a debate. ... It's up to Brazil, a centre of excellence in ethanol production, to prove that it's fully possible to make ethanol output compatible with the production of food." U.N. Secretary-General Ban Ki-moon, who has set up his own task force to find answers to the food security crisis, is expected to hold private talks with Lula in Rome on Monday ahead of the June 3-5 summit.
ISTANBUL: Airlines ratcheted up the pressure on governments Monday to roll back regulations that they argue are damaging their industry at a time when soaring fuel prices have pushed many carriers into a "desperate" situation. At its annual meeting here, the global trade body for the airline industry, the International Air Transport Association, or IATA, warned of a significant drop in profitability and a collective loss of up to $2.3 billion due to the effects of high oil costs and the slowing economy in Europe and the United States. Other issues that are vexing the industry include uncertainty about the approach by the European Union and national governments toward state aid and mergers and the exact role that airlines will be expected to play in emerging emissions trading projects. "After enormous efficiency gains since 2001 there is no fat left and skyrocketing oil prices are changing everything," Giovanni Bisignani, the chief executive of IATA, said . "The situation is desperate and potentially more destructive than our recent battles with all the Horsemen of the Apocalypse combined."
ISTANBUL: Airlines ratcheted up the pressure on governments Monday to roll back regulations that they argue are damaging their industry at a time when soaring fuel prices have pushed many carriers into a "desperate" situation.
At its annual meeting here, the global trade body for the airline industry, the International Air Transport Association, or IATA, warned of a significant drop in profitability and a collective loss of up to $2.3 billion due to the effects of high oil costs and the slowing economy in Europe and the United States.
Other issues that are vexing the industry include uncertainty about the approach by the European Union and national governments toward state aid and mergers and the exact role that airlines will be expected to play in emerging emissions trading projects.
"After enormous efficiency gains since 2001 there is no fat left and skyrocketing oil prices are changing everything," Giovanni Bisignani, the chief executive of IATA, said . "The situation is desperate and potentially more destructive than our recent battles with all the Horsemen of the Apocalypse combined."
Budget airline Ryanair today said it would ground up to 10 per cent of its fleet this winter to combat soaring airport charges. The carrier - which unveiled a 17 per cent rise in pre-tax profits to 528 million euro (£419m) in the year to March 31 - said it would be more profitable to keep 20 aircraft on the ground at Stansted and Dublin than put them in the air. Chief executive Michael O'Leary blamed the "unjustified" doubling in landing and handling charges levied by Stansted operator BAA and higher charges at Dublin Airport.
The carrier - which unveiled a 17 per cent rise in pre-tax profits to 528 million euro (£419m) in the year to March 31 - said it would be more profitable to keep 20 aircraft on the ground at Stansted and Dublin than put them in the air.
Chief executive Michael O'Leary blamed the "unjustified" doubling in landing and handling charges levied by Stansted operator BAA and higher charges at Dublin Airport.
also, they charge for a lot of things supplied for free by other companies. check-in, luggage, priority boarding. Noticeably high prices for food and drink keep to the Fen Causeway
But mostly by outsourcing of services to passengers - you carry your own bags or pay for them, you get your own food, you clean your own plane etc
You even have to look at Ryanair ads on the overhead lockers throughout the flight. You can't be me, I'm taken
THE International Monetary Fund has come under a withering attack from its own internal self-policing watchdog, which demanded far-reaching reforms to improve its effectiveness and accountability to member countries. The IMF was accused of failing to adapt to changing global realities, and of being widely perceived as both slow to respond to emerging world issues, and as ineffective in agreeing and delivering strategies to tackle these problems. The charges were levelled in a report from the IMF's Independent Evaluation Office, the IEO, which called for action to bolster the legitimacy of the fund's top governing bodies and tougher international oversight of its day-to-day management, led by its managing director. The report said that an overhaul of the fund's operations and governance also needed to go still further than a recent spate of reforms of its 185 member countries' voting rights, which gave some increasingly important emerging market countries a bigger say in decision making, reducing the traditional dominance of the United States and Europe. "Our evaluation finds that reforms have not kept pace with broader changes in the environment in which the fund operates," Tom Bernes, the head of the IEO, said. "In our view, if left unaddressed this could likely undermine effectiveness over time."
President Hamid Karzai has come under fire for not doing enough to stem corruption in Afghanistan. He speaks to SPIEGEL about the coalition forces' ties with warlords, rumors about his family's influence and why he believes dirty deals are sometimes necessary. Taliban militants are a resurgent force in Afghanistan. SPIEGEL: Mr. President, much has been written about the failures of the international community in Afghanistan. But a good part of the so-called insurgency in the south and east of your country appears to have more to do with a protest movement against a bad government and corrupt elite. It doesn't seem like much of an exaggeration to talk about a resurgence of the Taliban. Is it not true that many Afghans are only joining the Taliban because they don't consider them to be corrupt? Hamid Karzai: I disagree. That is absolutely wrong. SPIEGEL: Some Afghan people say that the president himself, who is appointing high-ranking officials in Kabul and in the provinces, is fueling the insurgency with these personnel decisions. Is that there any truth in that? Karzai: Governance has improved immensely in Afghanistan. For the first time in six years, the Afghan budget has become transparent, there are no longer any secret funds. Before, the governors did whatever they wanted. Now there is a reporting requirement and there are former governors who were criminal or corrupt who are now in prison, like the former governor of Baghdis province. Of course the country needs more time, but the problems we have in the south and east are not because of bad governance.
President Hamid Karzai has come under fire for not doing enough to stem corruption in Afghanistan. He speaks to SPIEGEL about the coalition forces' ties with warlords, rumors about his family's influence and why he believes dirty deals are sometimes necessary.
Taliban militants are a resurgent force in Afghanistan.
SPIEGEL: Mr. President, much has been written about the failures of the international community in Afghanistan. But a good part of the so-called insurgency in the south and east of your country appears to have more to do with a protest movement against a bad government and corrupt elite. It doesn't seem like much of an exaggeration to talk about a resurgence of the Taliban. Is it not true that many Afghans are only joining the Taliban because they don't consider them to be corrupt?
Hamid Karzai: I disagree. That is absolutely wrong.
SPIEGEL: Some Afghan people say that the president himself, who is appointing high-ranking officials in Kabul and in the provinces, is fueling the insurgency with these personnel decisions. Is that there any truth in that?
Karzai: Governance has improved immensely in Afghanistan. For the first time in six years, the Afghan budget has become transparent, there are no longer any secret funds. Before, the governors did whatever they wanted. Now there is a reporting requirement and there are former governors who were criminal or corrupt who are now in prison, like the former governor of Baghdis province. Of course the country needs more time, but the problems we have in the south and east are not because of bad governance.
The depth of U.S. involvement in Iraq and the difficulty the next president will face in pulling personnel out of the country are illustrated by a handful of new contract proposals made public in May. The contracts call for new spending, from supplying mentors to officials with Iraq's Defense and Interior ministries to establishing a U.S.-marshal-type system to protect Iraqi courts. Contractors would provide more than 100 linguists with secret clearances and deliver food to Iraqi detainees at a new, U.S.-run prison. The proposals reflect multiyear commitments. The mentor contract notes that the U.S. military "desires for both Ministry of Interior and Ministry of Defense to become mostly self-sufficient within two years," a time outside some proposals for U.S. combat troop withdrawal. The mentors sought would "advise, train [and] assist . . . particular Iraqi officials" who work in the Ministry of Defense, which runs the Iraqi army, or the Ministry of Interior, which runs the police and other security units.
The depth of U.S. involvement in Iraq and the difficulty the next president will face in pulling personnel out of the country are illustrated by a handful of new contract proposals made public in May.
The contracts call for new spending, from supplying mentors to officials with Iraq's Defense and Interior ministries to establishing a U.S.-marshal-type system to protect Iraqi courts. Contractors would provide more than 100 linguists with secret clearances and deliver food to Iraqi detainees at a new, U.S.-run prison.
The proposals reflect multiyear commitments. The mentor contract notes that the U.S. military "desires for both Ministry of Interior and Ministry of Defense to become mostly self-sufficient within two years," a time outside some proposals for U.S. combat troop withdrawal. The mentors sought would "advise, train [and] assist . . . particular Iraqi officials" who work in the Ministry of Defense, which runs the Iraqi army, or the Ministry of Interior, which runs the police and other security units.
Iran's supreme leader has insisted it will continue its nuclear activities for civilian purposes only and will not manufacture nuclear weapons. "No wise nation would be interested in making a nuclear weapon today. They are against rational thought," said Ayatollah Ali Khamenei in a speech. The comments come a day after the UN's atomic watchdog urged from Iran "full disclosure" about its atomic work.
"No wise nation would be interested in making a nuclear weapon today. They are against rational thought," said Ayatollah Ali Khamenei in a speech.
The comments come a day after the UN's atomic watchdog urged from Iran "full disclosure" about its atomic work.
A referendum approving a new military-backed constitution for Myanmar has "washed away" the victory claimed by Aung San Suu Kyi's opposition party in 1990 elections, state media said Tuesday.Her National League for Democracy (NLD) won by a landslide 18 years ago, but the military never recognised the result and has kept the Nobel peace prize winner under house arrest for most of the years since then.The government mouthpiece New Light of Myanmar said Tuesday that the NLD's election mandate was "outdated" after the constitution was approved last month in a controversial referendum -- held while the impoverished nation was still reeling from the devastating effects of Cyclone Nargis.
Her National League for Democracy (NLD) won by a landslide 18 years ago, but the military never recognised the result and has kept the Nobel peace prize winner under house arrest for most of the years since then.
The government mouthpiece New Light of Myanmar said Tuesday that the NLD's election mandate was "outdated" after the constitution was approved last month in a controversial referendum -- held while the impoverished nation was still reeling from the devastating effects of Cyclone Nargis.
Soaring gas prices are pushing more Americans to take public transit, with streetcars, trolleys and other light rail experiencing a 10.3 percent increase in ridership for the first quarter of the year, according to a report released yesterday by the American Public Transportation Association. Americans took 2.6 billion trips on all modes of public transportation, including subways and buses, in the first three months of 2008, a 3.3 percent increase, or almost 85 million more trips than in the same period last year, the report said. "There's no doubt that the high gas prices are motivating people to change their travel behavior," APTA President William Millar said in a statement.
Americans took 2.6 billion trips on all modes of public transportation, including subways and buses, in the first three months of 2008, a 3.3 percent increase, or almost 85 million more trips than in the same period last year, the report said.
"There's no doubt that the high gas prices are motivating people to change their travel behavior," APTA President William Millar said in a statement.
(Some copy editor having fun with the deck hed there... gas prices "fuel" increased use of public transit, get it? Har har.)
