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Global update
Oil and gas updates from around the globe
Rising oil costs could affect the recovery
According to a recent report, the International Energy Agency (IEA) believes that the latest rise in the cost of oil could derail the economic recovery. The agency predicts that this rise may also affect the growth in oil demand.
More electric cars may not reduce emissions
A report from the UK’s Environmental Transport Association suggests that only 25% of cars worldwide will be powered by electricity by 2050: most will still run on gasoline or diesel.
Ferrari and Shell look forward to 2010
With newcomer Brawn GP Formula One Team winning the constructors’ and drivers’ championships in the 2009 Formula One season, Ferrari, in fourth place, just slipped from its outstanding track record of having been one of the top three constructors for the previous 15 years.
Mexican hedging of oil prices pays off
The Mexican government enjoyed a $13.2 billion payout by hedging that the price of oil would not rise above $70 a barrel.
German election result looks set to benefit big businesses
The Free Democratic Party’s joining of the governmental coalition following the September 2009 elections will probably create a more pro-market economy in Germany.