Mexicans fear gasoline hike resulting in higher food prices
Mexicans who already feel the pinch from a gasoline price hike share economists fears it will now drive up the cost of food and other basics, adding to the unpopularity of the government ahead of elections this year and next. Riots that broke out after a 14 percent increase in regular gas prices on Jan. 1 also reflected anger at President Enrique Pena Nieto over corruption, crime and the failure of reforms to improve living standards.
Where Does Britain's Inflation-Busting Oil Come From?
Oil priced in sterling is set for its biggest yearly rise since 1999 and has already pushed UK fuel prices to their highest since August 2015, even thought much of the crude that Britain uses comes from UK-based oilfields. Expectations of lower supply and stronger demand have put the oil price in dollar terms on course for its first yearly rise since 2012, having touched a one-year high above $52 a barrel this month.
EU Moves to Curb Speculative Commodity Trading
European regulators moved on Monday to curb the influence of speculative trading in commodity markets and impose tests to determine whether a non-financial firm's trading activities should make them subject to new regulation. The European Securities and Markets Authority (ESMA) announced its final rules to flesh out the Markets in Financial Instruments Directive II (MiFID II) law that comes into force in January 2017. MiFID II is the biggest overhaul of the bloc's securities rules in a decade.
Zambia Cuts Power as Dam Level Drops on Drought
Africa's second-biggest copper producer Zambia has cut its power generation by 300 megawatts after water levels in the Kariba dam, a key source of hydro power, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia planned to reduce its hydro-power generation by up to 600 MW if water levels continued dropping. "Our generation capacity is 2,200 megawatts but now we have reduced to 1,900 megawatts," Zulu said.
Cameroon Unions Call for National Strike over Fuel Subsidies Cut
Twelve trade union groups in Cameroon have called for a national strike from July 28 to protest cuts in fuel subsidies that have pushed up pump prices and transport costs. Oil and cocoa-producing Cameroon removed some subsidies on petrol, diesel and cooking gas on July 1. Petrol prices rose 14 percent, diesel prices 15 percent and gas 8 percent. The government took measures to soften the impact of the cuts, such as increasing base salaries for government workers and the military.
Act Fast To Curb Global Warming, Or Extract CO2 From Air - UN
extract greenhouse gases from the air, a U.N. report said on Sunday. solar or nuclear power was affordable and would shave only about 0.06 percentage point a year off world economic growth. Edenhofer, co-chair of a Berlin meeting of the Intergovernmental Panel on Climate Change (IPCC). "I'm not saying it's costless. I'm not saying climate policy is a free lunch. But it's a lunch worthwhile to buy," he said. The report, endorsed by governments, is meant as the main scientific guide for nations working on a U.N.
Scientists Make Ethanol without Corn or Other Crops
Scientists said on Wednesday they have developed a new way to make liquid ethanol efficiently without using corn or other crops needed in the conventional method for producing the biofuel. The scientists said their process turns carbon monoxide gas into liquid ethanol with the help of an electrode made of a form of copper. They said the new technique may be more environmentally friendly and efficient than the current method.
