| Boom or bust?
Crop experts are downplaying the significance of a corn surge on the valley's ag sector. Politicians are asking questions about the industry's effects on trade and the environment. Local contractors have walked off the job site at one of the plants near Heyburn, where construction has halted.The future seemed much brighter just a year ago, when plans for two Cassia County ethanol plants were announced by Renova Energy, a London-based company with offices in Boise, and Pacific Ethanol, a California business. The facilities would be the state's first commercial fuel-grade ethanol facilities, and company officials lauded the economic surge that would come from 70 new jobs. They touted the environmental benefits of 70 million gallons of environmentally friendly fuel that could be produced at the plants each year.
Oil price hits record $US100 a barrel
THE price of oil in New York has spiked to a record $US100.10 a barrel in the wake of supply concerns. The price for a barrel of light, sweet crude, eclipsed the record set in January of $US100.09 a barrel. The market rallied amid speculation that OPEC, which supplies about 40 per cent of the world's oil, would cut output at its March 5 meeting in Vienna, analysts said. Another factor was the ongoing row between Venezuela and ExxonMobil over nationalised assets of the US giant. "Oil futures surged higher amid technical buying underpinned by the ongoing saga between Venezuela and Exxon and on speculation surrounding OPEC's next move when they meet in March," said Sucden analyst Nimit Khamar. "There is clear evidence that speculators are coming back in to the oil market." Iran has declined to rule out that OPEC would cut production next month.
KCA observes moderate trading session
KARACHI: The Karachi cotton market witnessed a moderate trading session on Wednesday while the spot rates remained firm, dealers said. Some deals changed hands between ginners, withholding fine stocks and spinners on future delivery on slightly higher prices, brokers said. A senior trader, Ghulam Rabbani said the spot rates at Karachi Cotton Association (KCA) stayed firm at Rs 3,150 per maund. Traders in the domestic market traded cotton in a range of Rs 3,050 per maund to Rs 3,350 per maund. There is a contract brought on the records for about 13,000 bales at Rs 3,300 per maund in upper Sindh. He said international spot market activity remains subdued but somewhat active according to some international merchants. The ICAC issued monthly supply and demand estimate for 2007-08. World production was estimated at 123.8 million bales down from 124.0 million bales in January.
No plans to quit, says Musharraf
WASHINGTON: Pakistan President Pervez Musharraf has said he is not planning to resign or retire despite his allies suffering a crushing defeat in the general election and asserted that he intends to stay in office to guide the democratic transition in the country.
A day after pro-Musharraf PML-Q was hammered at the hustings, the former military ruler told The Wall Street Journal he is neither contemplating retirement nor resigning.
"No, not yet. We have to move forward in a way that we bring about a stable democratic government to Pakistan," he said adding, he is even prepared to work with former Prime Minister Nawaz Sharif, who was accused by Musharraf at one time of trying to kill him.
"We are running a parliamentary system. The government is run by the Prime Minister.
Society depends on more for less
Taxation has the great merit that it provides a clear floor price of carbon. So for me the preferred option is a combination - a tax, but with the ability to reduce it through trading, getting the best combination of a floor price and efficiency of investment. Most people think that a price of something around 40 dollars a tonne of carbon dioxide (CO2) to producers would do the trick. Market decides Before you panic about the cost to you and industrial transport, that is only about 5p a litre on fuel - within the noise of oil price variations. On the other hand, for efficiency we need regulatory frameworks - very tough efficiency standards on buildings, on lighting and on personal transport. That means banning the manufacture or import of old fashioned light bulbs.
Al Qaeda in Northern Africa Has Become Pipeline for New Iraq Recruits
According to an intelligence report, Al Qaeda has smuggled up to 800 AK-47s into the region over the past two years to supply training camps. "They train in the desert, return to Morocco and then plan attacks," said a senior intelligence official who asked not to be named. "One hundred percent of new recruits go straight to Iraq." .
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