The increase in demand for oil gives credence to the fact India’s economy is growing at a rapid pace. Oil product consumption in India expanded at the fastest pace in a decade in October as petrol prices fell amid a global commodity slump. “There is no doubt of a pickup in the economy, and that’s fueling India’s oil demand,” said Amrita Sen, a London-based analyst with Energy Aspects Ltd. who holds an economics degree from Cambridge University. “This is a clear indication that India’s middle class is going out and spending.” The economy is growing at a rate of greater than 7%, according the Economist reports. This is a clear sign of bigger things to come and that the economy is picking up steam quickly.
Oil consumption in October grew at the fastest pace in a decade!
Oil imports are set to rise to an estimated 90% by the year 2040, from a present 70%, as domestic energy consumption rises according to International Energy Agency [IEA]. This is a strong indicator of where the country is headed in terms of economic growth and developments, as oil is a strong indicator of wealth and affluence. With this increase in demand, India will be pinned as the second biggest oil importer only behind China, making it a major contributor in world energy demand in the next 25 years. Plans are being made to import more of the country’s oil from Middle East and parts of Latin America. Continue reading
Article written in September, 2011. Just my thoughts and ideas on what the US could have implement as a potential resolve to there deep unemployments sores. Moreover I believe that this can even be implemented as of today!
The United States is plunging into a deep hole, struggling to make consensuses and cure unemployment. The country is going through some rough times and its economy has seen an humongous downturn in 2011. Stock prices gave way, Europe debt crisis became worse, S&P lowered the debt rating and the country was on the verge of default. What could be worse? Continue reading
With the 2012 London Olympics right around the corner, everyone around the globe is gawking in anticipation of what might possibly be the most awaited event of the year. London will be at the centre of the sporting universe on Friday. But as we might all suspect, the country has been wrestling with the tides to get this event underway. UK has an outlay of a staggering £9.3bn est. Just want to point out: Bill Gates could provide the funding for the whole extravaganza right out of his pocket. Err… Sounds pretty daunting but the guy is filthy rich. Humor aside, could the income from the Games possibly make the weight of the cost unfelt?
The Dept. of Trade and Industry [UKTI] Continue reading