Oil not at the end of rollercoaster ride says International Energy Agency November 14, 2013 The recent fall in oil prices may be a temporary blip, according to the International Energy Agency (IEA). Oil prices fell to their lowest point in five months on Tuesday. However, the IEA said that problems with production in Libya and Iraq will have a significant effect on supply. The oil price rose dramatically over [...]
Here’s how the US could be energy self-sufficient by 2020 January 9, 2014 The US has the potential to become energy self-sufficient by the end of the decade, according to the head of Exxon Mobil. Rex Tillerson, chairman & CEO of Exxon Mobil, told CNBC that US energy self-sufficiency had become "a realistic aspiration." Tillerson pointed to the fact that the US was already the world's largest natural [...]
US to overtake Saudi Arabia as top oil producer November 12, 2013 THE UNITED States is set to overtake Saudi Arabia as the world’s biggest producer of oil in two years, transforming the world market, according to a major energy organisation. The US is now almost able to meet all of its own energy needs, according to yesterday’s annual outlook from the International Energy Agency (IEA), and [...]
Train with no seats may ease congestion November 25, 2013 BRITAIN’S railways could carry more commuters without spending billions on upgrades if trains offered third-class carriages with almost no seats, a report out yesterday claimed. Passengers could pay a fifth less to travel in a “high-density” section that would be modelled on the London Overground carriages, the paper by transport expert David Starkie for the [...]
Sin taxes and VAT hit low income families hardest October 13, 2013 THE POOREST fifth of British households spend nearly one third of their disposable income on the Treasury’s indirect taxes, twice as much as the richest fifth, according to research published today. The new report, from the Institute of Economic Affairs (IEA), says that taxes on cigarettes, alcohol, fuel and other consumer goods impact the worst-off [...]
Tomorrow’s Opec meeting and why the pressure’s on for oil next year December 3, 2013 It'd be unlikely that the Organisation of the Petroleum Exporting Countries (Opec) doesn't freeze its output ceiling tomorrow. Speaking ahead of the cartel's meeting, Saudi oil minister Ali al-Naimi (pictured) told reporters today, "the market is in the best position it can be". But a note from investment bank Citi warns that pressure will mount [...]
HS2 rubbishes claim that costs could hit £80bn August 19, 2013 THE COMPANY developing the High Speed 2 (HS2) railway last night hit out at claims that the cost of the route will eventually hit £80bn, insisting the figure is based on ideology rather than reality. A report released today by the free market Institute for Economic Affairs (IEA) think tank concludes that local lobbying campaigns [...]
HS2 rubbishes claim that costs could hit £80bn August 18, 2013 THE COMPANY developing the High Speed 2 (HS2) railway last night hit out at claims that the cost of the route will eventually hit £80bn, insisting the figure is based on ideology rather than reality. A report released today by the free market Institute for Economic Affairs (IEA) think tank concludes that local lobbying campaigns [...]
Why HS2 won’t cost £80bn August 19, 2013 The Institute for Economic Affairs has a report out this morning on the High Speed 2 (HS2) railway that claims the real cost of the project will be "more than £80bn" – around double the government's current estimate. But even if you think HS2 is a costly white elephant, don't be taken in by these [...]
Damaged UK growth could linger for years September 9, 2013 Weak economic growth may now be the norm for the British economy unless major reforms are undertaken, according to a report out this morning. New research by the Institute of Economic Affairs (IEA) claims that after the longest crisis in British economic history, the country may not ever be able to return to previously typical [...]