Economics

Image: Oil derricks like this one outside of Williston, North Dakota, are part of a shale oil boom that has helped put the United States on track to overtake Saudi Arabia as the world's leading oil producer. Photograph by Gregory Bull, AP

news.nationalgeographic.com - November 12th, 2012 - Theodore K. Grose

In an indication of how "fracking" is reshaping the global energy picture, the International Energy Agency today projected that the United States will overtake Saudi Arabia as the world's largest oil producer by 2017.

And within just three years, the United States will unseat Russia as the largest producer of natural gas.

Both results would have been unthinkable even a few short years ago, but the future geography of supply has shifted dramatically due to what IEA calls America's "energy renaissance."

Image: Pedestrians walk past graffitti in Athens – a growing number of Greek workers remain nominally employed but have not been paid for some time. Photograph: EPA

guardian.co.uk - October 31st, 2012 - Julia Kollewe and Phillip Inman   

Unemployment in the eurozone has risen to a new record, with more than one in four out of work in Spain and Greece.

There are now 18.49 million people without jobs in the 17 countries sharing the euro, said the European statistics office Eurostat on Wednesday with an extra 146,000 joining the ranks of the unemployed last month.

Youth unemployment – joblessness among under-25s – rose to 23.3%, up from 21% during the same month a year ago.

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reuters.com - November 4th, 2012 - Krista Hughes and Julien Toyer

Finance chiefs of leading economies pressed the United States on Sunday to avert a rush of spending cuts and tax hikes that could hurt global output next year, though some countries still saw Europe's debt crisis as the No. 1 danger.

Unless a fractious Congress can move quickly to reach a deal after Tuesday's U.S. elections, about $600 billion in government spending cuts and higher taxes are set to kick in from Jan. 1, threatening to push the American economy back into recession.
   
"They need to act swiftly on the fiscal cliff and then they will need to put in place a medium-term fiscal consolidation," Australian Treasurer Wayne Swan told Reuters before ministers from the Group of 20 countries gathered for talks.

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Image: Chief executive Sir Stuart Etherington says government should open up commissioning and make other initiatives less complex

submitted by Albert Gomez

thirdsector.co.uk - October 25th, 2012 - Tim Tonkin

Charity leaders are feeling more optimistic about their organisations’ financial prospects in the forthcoming year, according to a new report by the National Council for Voluntary Organisations.

The umbrella body’s latest quarterly Charity Forecast Survey, carried out last month and published today, shows that 31 per cent of the 200 or so NCVO members who responded feel the overall situation of their organisations will improve over the next year, compared with 21 per cent in the poll carried out for the last Forecast Survey.

The proportion who feel their organisation’s overall position will worsen over the coming year is down slightly, from 46 per cent in the last survey to 42 per cent.

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