SUDAN WATCH: Solar in Africa or falling back in love with oil? - Sharia courts operating in Britain

Wednesday, September 17, 2008

Solar in Africa or falling back in love with oil? - Sharia courts operating in Britain

British Prime Minister Gordon Brown and French President Nicolas Sarkozy have supported plans to build a 45 billion Euro ($64 billion) "super grid" that would connect renewable energy resources across Europe and Africa.

Read more in a report by Ben Block at World Changing, September 12, 2008 - African Renewable Energy Gains Attention. Excerpt:
The potential for renewable energy development in Africa is experiencing an increase in attention lately as investors and world leaders seek a new clean energy frontier.

The continent could become a gold mine for renewable energy due to abundant solar and wind resources. But roadblocks to clean energy worldwide are amplified throughout the troubled regions of Africa - financial resources are thin and infrastructure is often unreliable.

Solar in Africa.jpg

A researcher from the European Commission's Institute for Energy reported earlier this year that 0.3 percent of the sunlight that shines on the Sahara and Middle East deserts could supply all of Europe's energy needs. British Prime Minister Gordon Brown and French President Nicolas Sarkozy have supported plans to build a 45 billion Euro ($64 billion) "super grid" that would connect renewable energy resources across Europe and Africa.

Along the Great Rift Valley - a 6,000 kilometer terrain stretching from Syria to Mozambique - a huge amount of untapped geothermal energy may soon be developed. In June, Kenya announced that it would install some 1,700 megawatts of geothermal capacity within the next 10 years - 150 percent of the country's total electricity generating capacity. Djibouti plans to supply nearly all of its electricity needs through geothermal energy, with the help of Reykjavik Energy Invest and the World Bank.
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FALLING BACK IN LOVE WITH OIL?

Here is an excerpt from today's Snowmail, just in - courtesy of UK Channel 4 News' Jon Snow - Wednesday 17 September 2008:
FALLING BACK IN LOVE WITH OIL?
One last thought: OIL. Have you noticed how it's crashed from $140 a barrel to around $90 in just three months? All those weeks ago, at the beginning of the hike in prices, I asked one of the foremost oilmen, Sir Mark Moody Stewart, formerly head of Shell, now on the board of the Saudi state oil company Aramco, what it was all about.

"Not the oil supply" he said. "There's plenty of it... not India or China either
they amount to 2 per cent of the market
this is about sentiment and speculation."

So there you have it. Having grown tired of the money markets and the rest, the hedge funds and private equity characters and the rest had bundled out of Wall Street into commodities, particularly oil. Now they are back with their first love, barracuda attacks on rivals in the markets, and - hey presto! - having left the oil speculation game, the price of oil falls.

Gotta run see you at seven, Best, Jon
BUSINESS
At the time of sending the FTSE-100 index was: 4956.70
The US Dollar to Sterling was: 1.79535
The Euro to Sterling was: 1.26780

Source: CHANNEL 4 NEWS SERVICES
RSS feeds and mobile phone bulletins
Online video reports

PS If you want to reply to Snowmail please email news@channel4.com and put Snowmail in the subject header.

PPS Sharia courts have been operating in Britain for over a year it has emerged.
Source: Telegraph News - Sharia courts operating in Britain September 14, 2008

[Cross posted to sister site Niger Watch]
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UPDATE: MARKET DATA 23:32 UK GMT, Wednesday, 17 September 2008

FTSE 100 4912.40 down -113.20 -2.25%
Dow Jones 10609.66 down -449.36 -4.06%
Nasdaq 2098.85 down -109.05 -4.94%

UPDATE: MARKET DATA 20:54 UK GMT, Thursday, 18 September 2008

FTSE 100 4880.00 down -32.40 -0.66%
Dow Jones 11023.85 up 414.19 3.90%
Nasdaq 2187.17 up 88.32 4.21%

Source: BBC - Market Data

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