Resource-scarce economies, such as China, India, Japan and South Korea, have long been heavily dependent on oil from the Middle East, giving producers there the upper hand in pricing. The surcharge, known as the “Asian premium,” has averaged about $1.20 a barrel since 1988.
Now, the tables are turning, handing an advantage to the region’s fast-growing countries in the form of relatively less expensive energy.
In March, Saudi Arabia, the world’s largest oil exporter, sold its Arab Light crude to Asia for $6.37 less per barrel than it charged European buyers … Kuwait and Iraq also followed suit … though official statistics aren’t yet available.
The latest flip in prices has led many analysts to conclude that fundamental changes in the global oil trade will soon eliminate the Asian premium for good, eliminating a drag on the region’s economy. In 2008, for example, Asian customers bought about 14 million barrels of oil a day from the Middle East, according to BP Statistical Review of World Energy. The premium averaged $8.08 a barrel that year, amounting to about $41 billion. (via Economic Clout Earns Asia an Oil Discount – WSJ.com).
One by one, each Asian country has been able to pull itself out colonial cess-pit that seemed bottomless at one point of time. Barring a few like Pakistan, Bangladesh, Afghanistan, some Central Asian republics, Asia is truly on its way out of the 20th century misery.
There are two economic miracles. One we have seen.
It is a miracle that Asia has been able to come out of its poverty pit, where it found itself in the 20th century – especially after WW2.
The greater miracle will be when Europe and Middle East find a way to rebuild their economic model – without the Asian premium!
And that is the miracle we may not see!
We can challenge India on Copenhagen goals: US – Global Warming – Environment – Home – The Times of India
White House senior advisor David Axelrod told CNN that the Copenhagen Accord would allow US verification. “Now China and India have set goals. We are going to be able to review what they are doing. We are going to be able to challenge them if they do not meet those goals,” Axelrod said.
While this was probably intended to keep the enraged constituencies of US labour unions at bay, who had insisted that Barack Obama come back with a commitment from India and China for carbon cuts and their verification, these statements will only fuel a fire in countries like China and India. (via We can challenge India on Copenhagen goals: US – Global Warming – Environment – Home – The Times of India).
Like last time
This time around, based on similarly dubious research, India is being pressured to accept monitoring of climate change. Climate control and the Copenhagen meet is that fast growing octopus which is spreading out. It tentacles can be found in all kinds of places. One of its tentacles has reached India – which was any way the target. The Aspen Institute, India (AII).
To ’soften’ up India, the AII organized a gab-fest. Who could be a good candidate for a gathering of such worthies? At least, Nobel Prize winners. Rajendra Pachauri? Al Gore? Any better candidates. Yes.
Amartya Sen – who ‘graced’ this gab-fest, hosted by Aspen Institute, India (AII) – an ‘associate’ of Aspen Institute, USA. Amartya Sen is tenderizing up the media, the academia, to accept Copenhagen outcome – which is primarily International ‘monitoring’ of India’s climate control and administration. Does Amartya Sen raise any of these questions? For his efforts to weaken Indian position and interests, Amartya Sen will soon qualify as a unique category of Indian passport holder – Non-Resident, Non-Indian, holding an Indian passport.
The AII-Board of Trustees reads more like Who’s Who of Indian industry – Bajaj, Birla, Godrej, Thapar et al.
The carbon credits ‘opportunity’
The rich fat-cats are already licking the chops. Estimates have been put out that the ‘carbon-credits business s worth Rs.28,000 crores.
Interestingly, note one thing very carefully. No one, but none, is talking up about cleaning up on pollution. No industry is being asked to reduce their pollutants (think of inks, dyes and chemicals), manage by-products (sulphur from petroleum refining), eliminate contamination (paper plants), decrease waste (electronics), recycle (just imagine the number of mobile phone batteries).
Dada Amartya, you got a memory lapse! How come you don’t talk about any of this?
Polluter cleans – not pay
One of the fundamental flaws of the Kyoto Protocol was the principal of ‘polluter pays’. Based on retributive justice logic, it was something that was bound to fail. Instead it should have been based on the Indic justice principle – ameliorative and make good. The operating principle should have been ‘polluter cleans and does not pollute again.’
Camels … in the kingdom of heaven
Copenhagen is for the rich (from poor countries), by the rich (from rich countries) to the rich (from poor and rich countries) – and may the poor and common be damned. And one thing you can be absolutely, completely, definitely, positively, wholly sure of.
The poor will never, ever, at all, in any manner, benefit from climate control.
Environmental writer and activist Bill McKibben of 350.org voiced his disapproval. (and) summarized what Obama accomplished:
He formed a league of super-polluters, and would-be super-polluters. China, the U.S., and India don’t want anyone controlling their use of coal in any meaningful way.
On Aug 14, 2009, a Quicktake post wondered if this entire climate change and global warming had something to do with coal-fired power plants.
Bill McKibben’s peeve does prove that this is indeed the case.
Now, coal is the cheapest way to generate electricity. Looking at the shortfall in electricity, and Indian consumers’ ability to pay, coal is the answer.
To low costs, add the fact that India has coal reserves that will last for the next 100 years – at least. But, coal-generated electricity, will also makes India industrially competitive.
And we don’t want that, do we? Right, Billy Boy!
Inside Indian bedrooms
60years ago, an assault was made by foreign ‘observers’ into Indian bedrooms. Foreign ‘observers’
- Tied ‘development aid’ to India’s population control.
- Trained Indian ‘health workers’ to control India’s human reproductive behaviour.
- Paid for by Western Governments, soon after that, we had ‘health workers’ fanning out across the Indian country-side, conducting vasectomies /tubectomies on India’s (especially poor) population.
It did not matter then, who the ‘observers’ were – foreign or Indian. Neither does it matter now. What matters is someone’s monitoring. And I don’t like that at all.
Even if the monitors have brown skins (my liking for brown skin notwithstanding). Even if it comes with a recommendation from Nobel prize winner, Amartya Sen. How Indian power producers generate electricity is our business.
Getting a handle on the Indian economy is the second and related part of the agenda.
An agenda, I don’t like.
All that nice, fresh, white newsprint …
Just the amount of newsprint that has been devoted to climate change and global warming must have raised temperatures (going by the ‘warmers’ calculations and estimates) enough to make this debate of questionable value. To that add, the amount of gimmickry and media overdrive (through slick PR) that raises many doubts and questions.
Hush, boy! Do not even mention ‘scientific manipulation’.
Just look at the record.
The most prominent and vocal votary of Climate Change was Al Gore – who was promptly awarded the Nobel Prize. The recruitment of Maldives and the positioning of President Mohammed Nasheed was again a very slick operation. The underwater Maldives cabinet meeting had a interesting story.
Maldivian officials said the idea to hold the attention-grabbing underwater cabinet meeting came from President Mohamed Nasheed when he was asked by an activist group to support its “environmental day” action on October 24.
“The 350.org group asked if the Maldives can hold an underwater banner supporting environmental day,” an official from the president’s office said.
“The president thought for a while and then came up with the idea to have an underwater cabinet meeting.” (via Maldives cabinet rehearses underwater meeting).
Propping up Maldives as ‘fifth’ column was done over the last more than 20 years. Based on excellent PR and media management skills, the Maldives was the trojan horse loosed on the G77+Basic grouping.
350.org is rather well armed on the PR front – with a specific agency for South Asia itself. The PR agency for the Maldives Travel and Tourism Authority McCluskey International does seem to either bask in reflected glory – or is hinting at the authorship of this stunt. The Maldives climate change campaign seems to be headquarted in Britain also.
Been there and done that
The hallmark of the Maldives’ climate change campaign has been it slick PR. Dramatic statements, intriguing sound bites, the Maldives’ campaign was beyond the common bureaucratic ‘creature’ – much less a Maldives’ bureaucrat. This is consistent and in line with Al Gore’s media and public relations management – which won the PR agency, the campaign of the year award. And Al Gore the Nobel Prize.
All this is much like, how from the early 1950’s to the late eighties, the Western world created hysteria regarding ‘population explosion’ in India and China. Enormous pressures were brought onto the Chinese and Indian Governments to ‘control’ their populations.
Same game, different name! Doesn’t wash. Just like last time.
- Climate change – How India is falling for propaganda
- Climate Change at Copenhagen – Britain mounts a Trojan operation
- Indian cows were blamed for global warming!
- US Euro Clubs hobble Third Wold
- Climate head steps down over e-mail leak
- NASSCOM wakes after 15 months
- PR Stunts – The Maldives underwater meeting