Mianyang Group Bronze Star Township Central Primary School activity summary
1.
Overview of activities in 2008, 7 9 - July 11, 2008, Mianyang early members of the group group, in Sichuan Province Jiangyou City Bronze Star Township Central Primary School carried out the the
2. Activities undertaken
Although the activities are concentrated in just 3 days, but the preparation, activities carried out follow-up attention to the formation of a more complete activities as combing:
2.1.
preparation preparation volunteers, we need to implement the main room and board, venue, timing and so on. The event and the school teachers we eat together, live together; because of the specific number of participants can not be determined in advance, so the school can only roughly estimate the time arrangements; Henan Luoyang reconstruction team is on the National Security Group, to build our board room, not delivered, the original plan activities in the tent, but in half a day later, we have aided in Henan national security team support to the venue moved to the board room; reconstruction of the school and Henan to carry out our activities provided great support.
Figure 1: Copper Star Township Central Primary School of the gate
Figure 2: The Bronze Star Township Central Primary School houses all of the front can not be used
map 3:7 On the morning of May 9 and subsequent use of the temporary tents used board room
Figure 4: The activities of the board panorama
2.2. Activities
I will follow the following categories, time combination will make the following summary of our activities:
2.2.1. English learning
< br> activities from July 9 to July 11 the morning of the afternoon, we have arranged for English learning activities, mainly to learn some simple English words, such as digital, classroom space items, stationery, body parts, weather, week, etc. and constantly review and extension, such as the last will be integrated into simple words the dialogue.
Figure 5:7 on the morning of 9 English
Figure 6: July 9 afternoon of English
Figure 7:7 on the morning of May 10 English
2.2 .2. game: play this game
sandbags can organize a play, or you can let the children play during recess themselves, they are more familiar with the game, usually have to play. Activities found in the course, the boys are playing the game without any weight, so the comparison suggested that the boy from the girls back to play the game.
Figure 8: sand bag 1
Figure 9: sand bag 2
darts
tools may be due to the game is not very easy to get at the local, this is not how the children are familiar with, this is very interested in this game, and we organize many times, but also conducted two games, one to take the best results, take one score.
Figure 10:7 9 PM darts
Riddles (riddles)
7 月 9 morning, in the tent, we held Riddles and puzzles games. Taking into account the participation of students from different grades, the difference between the larger number of literacy, we require that riddle can not be a charade. The beginning of the volunteers to the children out of question, say
Figure 11: Riddles - riddles game
singing contest
7 月 9 pm, we board room and held a singing competition, took part in the vast majority of children, some children attended by the team approach, a few children also performed two shows.
Figure 12: The quartet singing competition show
boys and girls pull songs
7 月 9 pm after the end of the singing contest, we held the boy - girl pull song contest, the children's enthusiasm.
Figure 13: The decision to pull the order
Tiaopi Jin Song
usually play this game with the girls, usually also play does not require much organization.
Diushou Juan
7 月 9 pm, board room and the children play in the game, nearly half of the students performed in the game program.
Figure 14: Diushou Juan wind blows
this game is also more welcome by the children, but this game can be seen in children keen powers of observation, they always find some features to our surprise.
Figure 15:7 with everyone the afternoon of 10 January the wind blows
blind - dumb this game is very
welcomed by the children, in the July 11 morning and afternoon we were playing this game, in the two games, we can see the children progress in the cooperation.
Figure 16:7 AM March 11, the blind - dumb game
2.2.3.
painting activities kids their paintings, we have basically retained, but also by the children's request, we want to select some part of the children affected by floods.
I am most afraid of ... ...
7 morning of October 10, drawing the children of our organization, , afraid of what their further understanding of the formation or to obtain a sense of control. Fear of such types of things: snakes, floods, earthquakes, war, death, mother, myself, ghosts and so on. Many children flood
morning of October 10 Figure 17:7 Figure 18: draw a good like the retro style of the rural scenery; some like splendid, some like elegant and simple ... ... the children of his own paintings are full of confidence, rushed to the cameras before the rush.
Figure 19:7 11 paintings, >
Figure 20: The rush to show their work
2.2.4. other learning activities
7 月 10 afternoon, the children learn the
2.3. and in the sixth grade interaction
7 morning of October 10, we have adaptation problems with the middle school sixth grade students of the interaction. Zhang Xiaodong, to physiological changes, adjustment, learning methods, and several other aspects of the children made a speech.
Figure 21:7 AM March 10, interaction with the sixth grade,
2.4. material handling
the main items we brought the kids some toys, stationery, and game prizes, toys and stationery and as a prize at the most, basically dealt with properly, the other would like to thank the Bronze Star for our Township Central Primary School provides 30 sets of painting supplies (including a pencil, a box of crayons, five paintings White), and to provide us with children can be automatic pencil. Articles dealing with the following list:
2.5. Follow-up attention
activities in the whole process, we all notice establish contact with the parents, hoping to end the event, the children also receive continued attention, the other school is also actively collect opinions and suggestions of activities to make our support activities will continue. Concrete are: attention during the event in time feedback to the parents of our implementation of activities, activities using the document to seek views and suggestions the school, leaving the necessary contact information, the children wanted to pursue painting sent to flood-affected children their aspirations and so on.
3.
activities received results of the activities the children, parents, teachers generally welcomed. We are having left the children on; parents for the children of our activities that provide a good place, but also can learn a lot of knowledge; teachers that our children have brought some new things, and activities in the form of Children easily accept.
involved in this event, there are 33 people registered, the following will be our case the number of participants during the event as a simple statistic:
addition to a lot of pictures outside and the outside of the children smiling faces, the children also drew a lot of pictures for us, and some hope that we can send flood-affected kids .
4. reflect concluded
because the weather here is hot indeed, some children still relatively far away from the venue, but because the reconstruction work is a busy, is not realistic for parents to pick, so from the way the children have to consider the security issues; Moreover, because schools to resume classes on time, building demolition and reconstruction are very heavy, making use of the venue issue has become more apparent. For these reasons, we have three days after the end of our activities.
The event overall was relatively successful, and some places worth learning to share with you here, and some do not have enough hope to encourage one another and strive to do better later.
4.1. preparations
4.1.1. Benefits: room and board for volunteers, venues, activities and time to understand a quite comprehensive, so although only after some are determined to , but does not affect the overall activities.
4.1.2. drawback: the children involved in the security responsibility from the way such issues are not well understood in advance, and coping strategies during the course of the only things clearly, and no other reasons because of the time implementation of our strategy.
4.2. activities
4.2.1. Benefits: We are most of the activities carried out by children, to have the kids pay attention to local materials and the adoption of the proposal, making the game more flexible ; English learning activities suitable for the content of the overall participation of children; organizations painting activities will be integrated into the psychological counseling, such as make the children feel afraid of things such as access control; Also note that in the game to encourage children to helpful, brave responsible for such fine quality.
4.2.2. Disadvantages: When there are several volunteers, each person's role should be not very clear, of course, we have gradually formed in the activities of a certain division of labor, such as who is responsible for meeting to discuss organization, who is mainly responsible for the records, who is primarily responsible for classroom and so on.
4.3. organization
4.3.1. advantages: the participation of enthusiastic volunteers are very high.
4.3.2. drawback
overall difficult to adjust to a consistent schedule, making arrangements for volunteers who can not be predetermined, which also gives us the continuity of the whole event caused some impact.
5. this event members of the
5.1. Volunteer Members: Zhang Xiaodong, Guang-Wei Chen, Huang Jieqiong, Zhu Qiang
5.2. in the basic situation of the children (in order to protect children, here omitted)
6. follow-up to do
1, the implementation of paintings for the children sent to the wishes of children flooded;
2, some of the activities of photos (photo) returned to the students;
3, the Bronze Star for tracking children and some of the requirements Township Central Primary School, and actively fight for their support of a number of follow-up;
4, this event will make a more detailed summary, in order to facilitate the conduct of other group activities and so on.
7. Annex
7.1. Annex I
from the way we are aware of the safety of students is necessary to focus the time to write with a
7 月 9-day course at the end of each participating child we wrote a summary of the performance of the day, mainly to day activities, we found that some of the advantages of such inform parents of children in September 10 a total of 12 children (check out a total of 15) and the teachers read the list back to the venue, of which 10 were with parents signature.
in July 11 end of the activity, each child wrote a report for the activities described in the corresponding local write performance of children in the event, while leaving the activity side of Tel easy to get in touch with us later, as follows:
Logistics Group, took the express
2008 年 7 月 13 morning
Sunday, February 27, 2011
Thursday, February 24, 2011
Michel Gondry to head Cannes short film jury
Filmmaker Michel Gondry, perhaps as well-known for films such as Eternal Sunshine of the Spotless Mind and this year’s The Green Hornet as for his music videos for The Chemical Brothers and The White Stripes, will be leading the Cannes Film Festival’s short film jury, it was announced on Wednesday.
Gondry, who was born in Versailles, France, began his career making music videos, and has gone on to work with such bands as Radiohead, Beck and Daft Punk. And while the director has made a total of five full-length films, he is a considerably more prolific commercial and short film artist, with his TV spot for Levis 501 jeans, called “Drugstore,” holding the distinction for most awards ever won by a television commercial.
The 2011 Cannes Film Festival takes place from May 11-22.
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Gondry, who was born in Versailles, France, began his career making music videos, and has gone on to work with such bands as Radiohead, Beck and Daft Punk. And while the director has made a total of five full-length films, he is a considerably more prolific commercial and short film artist, with his TV spot for Levis 501 jeans, called “Drugstore,” holding the distinction for most awards ever won by a television commercial.
The 2011 Cannes Film Festival takes place from May 11-22.
burberry sale
burberry outlet
chanel 2.55
nike factory outlet
America's corporate tax nightmare
In his State of the Union address and in comments since, U.S. President Barack Obama has demonstrated a remarkable ability to talk around the corporate tax policy nightmare taking shape across America. Not only are U.S. corporate tax rates now essentially the highest in the world, other elements of U.S. tax policy are distorting investment decisions.
Much has been said about the fact that U.S. corporations are sitting on as much as US$2-billion in cash. But some new research suggests as much as US$1-trillion may be sitting on U.S. corporate books outside the United States, money that American businesses are reluctant to bring home to distribute or invest -- because high U.S. corporate tax rates and rules discourage repatriation of foreign profits.
The President's idea of corporate tax reform is to get out a shotgun and hunt down corporate loopholes that he and other Democrats claim are draining U.S. government coffers and undermining growth.
He was at it again last week, taking aim at his favourite corporate target: "We shouldn't provide special treatment to the oil industry when they've been making huge profits," he said, ignoring the fact that there are no special
oil industry loopholes to be found. As for across-the-board cuts in U.S. corporate taxation, Mr. Obama said he wouldn't sign on to any reductions in corporate tax rates until the existing loopholes are removed.
In Mr. Obama's view, America needs high corporate tax rates to reduce astronomical deficits -- a fiscal strategy that plays to the anti-corporate crowd that still seems to dominate the Obama administration. But here's an idea: If the administration doesn't like U.S. corporate interests influencing the debate, maybe they'll take some guidance from a Canadian, Jack Mintz, head of the School of Public Policy at the University of Calgary.
In a paper released yesterday by the Cato Institute in Washington, Mr. Mintz produced the latest data on corporate taxation around the world. For some countries, including Canada, the numbers look good. Since 2005, the marginal corporate tax rate on new capital investment has dropped by five percentage points to 20.5%. In other countries, from Germany to Italy and Denmark, marginal corporate rates have been cut by as much as nine percentage points.
As the nearby table shows, the result is an American disaster in the making. And as such, there is no reason for complacency in Canada. Even though Canadian corporate tax rates have dropped and are expected to continue to fall in coming years, the high U.S. corporate tax rate remains a threat to the health of the Canadian economy.
In a speech in Toronto on Wednesday, excerpted at right, Mr. Mintz noted that Canada is part of a North American economic region that very much depends on U.S. economic expansion and success. Canada's lower tax rate might provide a competitive advantage against the United States, but the gains from that advantage will be slim if the U.S. corporate tax rate remains outrageously uncompetitive with the rest of the world. "A poor economic environment in the United States can hurt Canada through trade. Canada and Mexico benefit from a competitive North American region."
If the U.S. fails to attract investment due to high marginal tax rates on corporate profits, Canada will lose out. In political terms, Canadians should have as great an interest in pushing U.S. corporate tax reform as they have in lowering Canadian rates.
The perverseness of the U.S. high-tax regime was reinforced by a recent paper from the Sloan School of Management's Michelle Hanlon. In the paper -- The Real Effects of Accounting Rules: Evidence from Multinational Firms' Investment Location and Profit Repatriation-- Ms. Hanlon and others demonstrate that U.S. corporate tax rules and the world's highest corporate tax rates shape U.S. corporate investment decisions.
The high marginal tax rate -- almost 35% -- is a problem in itself. But the United States is the only country in the world that taxes its corporations on the basis of world profits. Every dollar earned abroad must bear a 35% tax rate. If the profits are earned in Canada, the corporation would pay 20.5% to Canadian governments, but then be forced to pay 14.5% more when profits are distributed back to the United States.
To avoid paying that U.S. tax, corporations are allowed to defer payment and also keep the profits abroad, where the money continues to earn income at reduced foreign tax rates. The perverse effect is to promote cash hoarding by U.S. corporate interests abroad. Some say as much as US$1-trillion may be sitting offshore, tax deferred, as executives continue to make money without paying U.S. tax.
Mr. Obama may be hoping to get his hands on that cash storehouse to lower the U.S. deficit. But if he does, it would be a major blow to U.S. corporate balance sheets. As Jack Mintz suggests in his Cato report, closing loopholes isn't the answer. "The aim of corporate tax reforms should be to create a system that has a competitive rate and is neutral between different business activities." He called for a sharp drop in U.S. corporate rates of 10 percentage points --something that would be as good for Canadians as it would be for America.
Much has been said about the fact that U.S. corporations are sitting on as much as US$2-billion in cash. But some new research suggests as much as US$1-trillion may be sitting on U.S. corporate books outside the United States, money that American businesses are reluctant to bring home to distribute or invest -- because high U.S. corporate tax rates and rules discourage repatriation of foreign profits.
The President's idea of corporate tax reform is to get out a shotgun and hunt down corporate loopholes that he and other Democrats claim are draining U.S. government coffers and undermining growth.
He was at it again last week, taking aim at his favourite corporate target: "We shouldn't provide special treatment to the oil industry when they've been making huge profits," he said, ignoring the fact that there are no special
oil industry loopholes to be found. As for across-the-board cuts in U.S. corporate taxation, Mr. Obama said he wouldn't sign on to any reductions in corporate tax rates until the existing loopholes are removed.
In Mr. Obama's view, America needs high corporate tax rates to reduce astronomical deficits -- a fiscal strategy that plays to the anti-corporate crowd that still seems to dominate the Obama administration. But here's an idea: If the administration doesn't like U.S. corporate interests influencing the debate, maybe they'll take some guidance from a Canadian, Jack Mintz, head of the School of Public Policy at the University of Calgary.
In a paper released yesterday by the Cato Institute in Washington, Mr. Mintz produced the latest data on corporate taxation around the world. For some countries, including Canada, the numbers look good. Since 2005, the marginal corporate tax rate on new capital investment has dropped by five percentage points to 20.5%. In other countries, from Germany to Italy and Denmark, marginal corporate rates have been cut by as much as nine percentage points.
As the nearby table shows, the result is an American disaster in the making. And as such, there is no reason for complacency in Canada. Even though Canadian corporate tax rates have dropped and are expected to continue to fall in coming years, the high U.S. corporate tax rate remains a threat to the health of the Canadian economy.
In a speech in Toronto on Wednesday, excerpted at right, Mr. Mintz noted that Canada is part of a North American economic region that very much depends on U.S. economic expansion and success. Canada's lower tax rate might provide a competitive advantage against the United States, but the gains from that advantage will be slim if the U.S. corporate tax rate remains outrageously uncompetitive with the rest of the world. "A poor economic environment in the United States can hurt Canada through trade. Canada and Mexico benefit from a competitive North American region."
If the U.S. fails to attract investment due to high marginal tax rates on corporate profits, Canada will lose out. In political terms, Canadians should have as great an interest in pushing U.S. corporate tax reform as they have in lowering Canadian rates.
The perverseness of the U.S. high-tax regime was reinforced by a recent paper from the Sloan School of Management's Michelle Hanlon. In the paper -- The Real Effects of Accounting Rules: Evidence from Multinational Firms' Investment Location and Profit Repatriation-- Ms. Hanlon and others demonstrate that U.S. corporate tax rules and the world's highest corporate tax rates shape U.S. corporate investment decisions.
The high marginal tax rate -- almost 35% -- is a problem in itself. But the United States is the only country in the world that taxes its corporations on the basis of world profits. Every dollar earned abroad must bear a 35% tax rate. If the profits are earned in Canada, the corporation would pay 20.5% to Canadian governments, but then be forced to pay 14.5% more when profits are distributed back to the United States.
To avoid paying that U.S. tax, corporations are allowed to defer payment and also keep the profits abroad, where the money continues to earn income at reduced foreign tax rates. The perverse effect is to promote cash hoarding by U.S. corporate interests abroad. Some say as much as US$1-trillion may be sitting offshore, tax deferred, as executives continue to make money without paying U.S. tax.
Mr. Obama may be hoping to get his hands on that cash storehouse to lower the U.S. deficit. But if he does, it would be a major blow to U.S. corporate balance sheets. As Jack Mintz suggests in his Cato report, closing loopholes isn't the answer. "The aim of corporate tax reforms should be to create a system that has a competitive rate and is neutral between different business activities." He called for a sharp drop in U.S. corporate rates of 10 percentage points --something that would be as good for Canadians as it would be for America.
Power clients stuck with bill
The latest increase in your power bills is easy to explain. The power companies broke the law when they overcharged customers who paid late. Now you will pay for their mistake. The story behind that simple explanation is complex, but one has to conclude that, when it comes to power rates, no one is on the consumers' side.
An Ontario Energy Board ruling this week makes a mockery of a seeming victory for Ontario power consumers. It took two trips to the Supreme Court of Canada to make the point, but it was finally determined that Ontario power companies had overcharged people who paid their bills late. The law prevents interest rates in excess of 60 per cent, and the industry thought it had settled just on the legal side of usury with its five-per-centper-month late fee. The court ruled differently because the compounding of the interest takes it over the limit. Rates have now been reduced to 1.5 per cent a month on overdue balances.
In a settlement, the power companies agreed to pay a little more than $17 million in compensation. Keeping track of who had actually overpaid for the late fees would be an enormous undertaking, so the companies are allowed to make a donation to a charity that helps the poor pay power bills. In the case of Hydro Ottawa, the cheque will be just over $1 million. Rather than make up that money from efficiencies or reductions in profits, the energy board will allow the power companies to get it back from their customers. The only lucky ones are those served by the provincial power company Hydro One, which isn't involved in this decision because it didn't stick customers with the big penalties.
In summary, some customers paid exorbitant late fees, the power companies have to pay a penalty, charity gets the money and the current customers get the bill.
Could there be a more cockeyed chain of events?
What makes all of this worse is that the Ontario Energy Board is supposed to act in the interests of consumers. That's difficult to see here. The board's decision notes that consumers strongly opposed getting stuck with this bill, but the board chose to side with the power companies.
There is an element of ass-covering in the decision. It was the board that originally told the power companies to charge a five-per-cent-amonth late fee. Even if that had not been found to be usury, it was ridiculously high. Now the board is sitting in judgment on its own decision. What a surprise that it would conclude that no one was at fault and the customers should pay.
The board decision argues that the high latepayment fees kept down the number of delinquent accounts and generated revenue, thus lowering the cost of electricity for everyone. They did it all for us, you see, so logically we would be the ones who have to pay the price of their overenthusiastic actions on our part.
It's important to note that the energy board decision gives power companies the permission to raise rates to cover the cost of the settlement. It doesn't oblige them to do so. There is nothing to stop the people's power company here in Ottawa from sucking up the cost corporately. With annual revenues of more than $750 million at Hydro Ottawa, there has to be a little wiggle room.
Even if absorbing the cost ultimately meant a lower dividend paid to the city, it's still preferable. The effect of a lower dividend is that the city government has a little less money to spend.
Under the Jim Watson regime, taxes can't go up more than 2.5 per cent, so the city can't really pass the cost on to us.
Unfortunately, Hydro Ottawa would not agree to an interview on this subject, although a spokesperson did say the company intended to pass the cost on to customers. That was news to Hydro Ottawa board member Councillor Peter Hume, so one would infer that it was a management decision. The board needs to take responsibility and explain to the public what it will do, and why.
The charge to fix this problem is small, only about 20 cents a month for the average customer. The principle is much larger. Surely a publiclyowned company should treat the public fairly.
The hydro utilities have screwed some of their customers, so now they want to fix their problem by screwing all of their customers. It's difficult to give that one a positive spin.
Contact Randall Denley at rdenley@ottawacitizen. com or 613-596-3756.
© Copyright (c) The Ottawa Citizen
Read more: http://www.ottawacitizen.com/Power+clients+stuck+with+bill/4336674/story.html#ixzz1EroBRub6
An Ontario Energy Board ruling this week makes a mockery of a seeming victory for Ontario power consumers. It took two trips to the Supreme Court of Canada to make the point, but it was finally determined that Ontario power companies had overcharged people who paid their bills late. The law prevents interest rates in excess of 60 per cent, and the industry thought it had settled just on the legal side of usury with its five-per-centper-month late fee. The court ruled differently because the compounding of the interest takes it over the limit. Rates have now been reduced to 1.5 per cent a month on overdue balances.
In a settlement, the power companies agreed to pay a little more than $17 million in compensation. Keeping track of who had actually overpaid for the late fees would be an enormous undertaking, so the companies are allowed to make a donation to a charity that helps the poor pay power bills. In the case of Hydro Ottawa, the cheque will be just over $1 million. Rather than make up that money from efficiencies or reductions in profits, the energy board will allow the power companies to get it back from their customers. The only lucky ones are those served by the provincial power company Hydro One, which isn't involved in this decision because it didn't stick customers with the big penalties.
In summary, some customers paid exorbitant late fees, the power companies have to pay a penalty, charity gets the money and the current customers get the bill.
Could there be a more cockeyed chain of events?
What makes all of this worse is that the Ontario Energy Board is supposed to act in the interests of consumers. That's difficult to see here. The board's decision notes that consumers strongly opposed getting stuck with this bill, but the board chose to side with the power companies.
There is an element of ass-covering in the decision. It was the board that originally told the power companies to charge a five-per-cent-amonth late fee. Even if that had not been found to be usury, it was ridiculously high. Now the board is sitting in judgment on its own decision. What a surprise that it would conclude that no one was at fault and the customers should pay.
The board decision argues that the high latepayment fees kept down the number of delinquent accounts and generated revenue, thus lowering the cost of electricity for everyone. They did it all for us, you see, so logically we would be the ones who have to pay the price of their overenthusiastic actions on our part.
It's important to note that the energy board decision gives power companies the permission to raise rates to cover the cost of the settlement. It doesn't oblige them to do so. There is nothing to stop the people's power company here in Ottawa from sucking up the cost corporately. With annual revenues of more than $750 million at Hydro Ottawa, there has to be a little wiggle room.
Even if absorbing the cost ultimately meant a lower dividend paid to the city, it's still preferable. The effect of a lower dividend is that the city government has a little less money to spend.
Under the Jim Watson regime, taxes can't go up more than 2.5 per cent, so the city can't really pass the cost on to us.
Unfortunately, Hydro Ottawa would not agree to an interview on this subject, although a spokesperson did say the company intended to pass the cost on to customers. That was news to Hydro Ottawa board member Councillor Peter Hume, so one would infer that it was a management decision. The board needs to take responsibility and explain to the public what it will do, and why.
The charge to fix this problem is small, only about 20 cents a month for the average customer. The principle is much larger. Surely a publiclyowned company should treat the public fairly.
The hydro utilities have screwed some of their customers, so now they want to fix their problem by screwing all of their customers. It's difficult to give that one a positive spin.
Contact Randall Denley at rdenley@ottawacitizen. com or 613-596-3756.
© Copyright (c) The Ottawa Citizen
Read more: http://www.ottawacitizen.com/Power+clients+stuck+with+bill/4336674/story.html#ixzz1EroBRub6
Skyrocketing oil prices put recovery at risk
Oil has cracked $100 (U.S.) a barrel for the first time since the global economic implosion in 2008, sparking new fear that the crucial commodity will undercut the recovery around the world.
Oil – which has shot higher because of the uprising in Libya – threatens several important and fragile corners of the economy. Airlines are bracing for higher costs and worry that people will fly less, or not at all. As the price of gasoline rockets higher, it brings trouble to auto makers just as they regain their balance after multibillion-dollar bailouts.
More related to this story
* Gadhafi’s grip on Libya weakens as international condemnation rises
* Canada at $100 oil
* How do oil shocks cause recessions?
Light Sweet Crude Oil (CL-FT)
98.89 0.79 0.81%
As of Feb 23, 2011 11:48
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A demonstrator holds a caricature of Libyan leader Gaddafi as he shouts slogans at rally in Tokyo
Video
Libya unrest hits world markets
Infographic
Foreigners in Libya
As vulnerable sectors are buffeted, the shock ripples through the rest of the economy: transportation industries from trucks to trains try to pass costs on to shippers, who then try to load the extra weight on consumers’ final bills.
“It’s a new and unwelcome risk,” said economist Douglas Porter of BMO Nesbitt Burns.
“Oil has a long and storied history of causing serious problems for the global economy, and the United States economy in particular. But it’s not the short-lived spikes – it’s the sustained periods of major increases.”
While Libya is a relatively small oil producer – it pumps only about two-thirds of Canada’s output – traders are concerned about other oil-rich countries descending into chaos and taps going dry. On Wednesday, the Libyan leader was preparing to make a final stand with his last remaining supporters as cities and towns around the capital were falling to opposition protesters and foreign countries scrambled to evacuate thousands of citizens.
The darkest forecasts are starting to factor in the ongoing civil unrest. An analyst at the brokerage Nomura on Wednesday said oil could leap past $200 a barrel if oil production in Libya and neighbouring Algeria was completely halted. The figure is far beyond oil’s peak near $150 in 2008. That price strained some sectors of the global economy, which compounded the subsequent financial crisis when bad housing loans nearly destroyed U.S. banks. All together, it led to recession.
A long period of high oil prices would sink the world’s economies and plunge the fragile global economy back into recession, said Nobuo Tanaka, chief of the International Energy Agency, a policy adviser to Western countries.
“If $100 continues through 2011 – we call it the oil burden – this will create the same level of crisis as in 2008,” Mr. Tanaka told Reuters in an interview.
The potential economic damage was clearly visible in the stock markets on Wednesday. Share prices plunged 7 per cent for United Continental airlines in the United States, and Air Canada stock fell 4 per cent. General Motors was down 3 per cent, and auto parts makers also lost ground.
In Canada, the average price of gasoline has climbed to $1.15 (Canadian) a litre, 10 per cent higher than a year ago, according to statistics compiled by Kent Marketing. The current price is also higher than at the same point in 2008, the year gasoline reached a record $1.40 a litre in the middle of July, peak driving season.
Beyond oil, food prices have also soared. The cost of staples such as wheat and corn is dangerously high, the World Bank said this week, particularly for poor countries. Economists in general are warning of a “twin commodity shock” that would force people in rich and poor countries to pay more for fuel and food and slash the kind of discretionary spending that has bolstered the economic recovery.
A Reuters tally suggested about 400,000 barrels of oil in Libya – a quarter of the country’s production – have been cut off. Saudi Arabia, the world’s No. 2 oil producer behind Russia, has tried to calm consumers, insisting it has enough oil in reserve to replace any lost production. Saudi Arabia produces about 8.3 million barrels a day now, with spare capacity of about four million barrels.
Oil – which has shot higher because of the uprising in Libya – threatens several important and fragile corners of the economy. Airlines are bracing for higher costs and worry that people will fly less, or not at all. As the price of gasoline rockets higher, it brings trouble to auto makers just as they regain their balance after multibillion-dollar bailouts.
More related to this story
* Gadhafi’s grip on Libya weakens as international condemnation rises
* Canada at $100 oil
* How do oil shocks cause recessions?
Light Sweet Crude Oil (CL-FT)
98.89 0.79 0.81%
As of Feb 23, 2011 11:48
Range:
* 1 Day
* 5 Day
* 1 Year
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A demonstrator holds a caricature of Libyan leader Gaddafi as he shouts slogans at rally in Tokyo
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Libya unrest hits world markets
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Foreigners in Libya
As vulnerable sectors are buffeted, the shock ripples through the rest of the economy: transportation industries from trucks to trains try to pass costs on to shippers, who then try to load the extra weight on consumers’ final bills.
“It’s a new and unwelcome risk,” said economist Douglas Porter of BMO Nesbitt Burns.
“Oil has a long and storied history of causing serious problems for the global economy, and the United States economy in particular. But it’s not the short-lived spikes – it’s the sustained periods of major increases.”
While Libya is a relatively small oil producer – it pumps only about two-thirds of Canada’s output – traders are concerned about other oil-rich countries descending into chaos and taps going dry. On Wednesday, the Libyan leader was preparing to make a final stand with his last remaining supporters as cities and towns around the capital were falling to opposition protesters and foreign countries scrambled to evacuate thousands of citizens.
The darkest forecasts are starting to factor in the ongoing civil unrest. An analyst at the brokerage Nomura on Wednesday said oil could leap past $200 a barrel if oil production in Libya and neighbouring Algeria was completely halted. The figure is far beyond oil’s peak near $150 in 2008. That price strained some sectors of the global economy, which compounded the subsequent financial crisis when bad housing loans nearly destroyed U.S. banks. All together, it led to recession.
A long period of high oil prices would sink the world’s economies and plunge the fragile global economy back into recession, said Nobuo Tanaka, chief of the International Energy Agency, a policy adviser to Western countries.
“If $100 continues through 2011 – we call it the oil burden – this will create the same level of crisis as in 2008,” Mr. Tanaka told Reuters in an interview.
The potential economic damage was clearly visible in the stock markets on Wednesday. Share prices plunged 7 per cent for United Continental airlines in the United States, and Air Canada stock fell 4 per cent. General Motors was down 3 per cent, and auto parts makers also lost ground.
In Canada, the average price of gasoline has climbed to $1.15 (Canadian) a litre, 10 per cent higher than a year ago, according to statistics compiled by Kent Marketing. The current price is also higher than at the same point in 2008, the year gasoline reached a record $1.40 a litre in the middle of July, peak driving season.
Beyond oil, food prices have also soared. The cost of staples such as wheat and corn is dangerously high, the World Bank said this week, particularly for poor countries. Economists in general are warning of a “twin commodity shock” that would force people in rich and poor countries to pay more for fuel and food and slash the kind of discretionary spending that has bolstered the economic recovery.
A Reuters tally suggested about 400,000 barrels of oil in Libya – a quarter of the country’s production – have been cut off. Saudi Arabia, the world’s No. 2 oil producer behind Russia, has tried to calm consumers, insisting it has enough oil in reserve to replace any lost production. Saudi Arabia produces about 8.3 million barrels a day now, with spare capacity of about four million barrels.
Libya unrest may unleash wave of 350,000 migrants: Italy
ROME: The violent unrest in Libya may spark a wave of up to 350,000 immigrants toward European shores, warned Italian Foreign Minister Franco Frattini, who asked the European Union for help.
"We ask that Europe do its duty," he said during a Wednesday address to parliament in Rome. "We want Europe to do more managing the flow of migrants because countries cannot be left alone."
Italy in May 2009 agreed to begin controversial joint patrols with Libya, turning back thousands of illegal immigrants aboard boats in the Mediterranean.
Libyan leader Muammar Gaddafi hinted that he may unilaterally scrap cooperation, warning that he would allow thousands of migrants to pass through his country on the way to Europe if the EU sided with opponents of his embattled rule.
Italy says more than 5,000 Tunisians have arrived by boat to its shores following the fall of that country's ruler in January amid anti-government protests. Italy has asked the EU for 100 million euros to help bring the situation under control.
An Italian fishing boat rescued 38 Tunisian migrants early Wednesday in rough seas off the southern Italian island of Lampedusa near Sicily.
Frattini dismissed Libya's official number of 300 dead during a week of protests, putting the death toll at 1,000 - the same figure used by reports citing eye-witnesses in the north African country.
"We don't have exact numbers but the figure of 1,000 is likely," he said.
"We ask that Europe do its duty," he said during a Wednesday address to parliament in Rome. "We want Europe to do more managing the flow of migrants because countries cannot be left alone."
Italy in May 2009 agreed to begin controversial joint patrols with Libya, turning back thousands of illegal immigrants aboard boats in the Mediterranean.
Libyan leader Muammar Gaddafi hinted that he may unilaterally scrap cooperation, warning that he would allow thousands of migrants to pass through his country on the way to Europe if the EU sided with opponents of his embattled rule.
Italy says more than 5,000 Tunisians have arrived by boat to its shores following the fall of that country's ruler in January amid anti-government protests. Italy has asked the EU for 100 million euros to help bring the situation under control.
An Italian fishing boat rescued 38 Tunisian migrants early Wednesday in rough seas off the southern Italian island of Lampedusa near Sicily.
Frattini dismissed Libya's official number of 300 dead during a week of protests, putting the death toll at 1,000 - the same figure used by reports citing eye-witnesses in the north African country.
"We don't have exact numbers but the figure of 1,000 is likely," he said.
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