Wednesday, February 22, 2006

Quick Overview

  • Following two months of downturns, the U.S. consumer prices rose 0.7% in January the most in a year, the Labor Department reported Wednesday. Excluding food and energy costs, prices were up just 0.2%.

  • Turkey is surrounded by 75% of the world’s known reserves of oil and gas. Long-term strategies plus recent developments are turning the country into an energy hub for the region.

  • Canada's consumer price index rose 0.5% in January and up 2.8% YoY.

  • Factory orders in the U.K. increased from -28 to -18 in February, more than expected.

  • ED&F Man predicted that world cocoa production will be down 3% in 2005-2006, resulting in a production deficit of 221,000 tons.

  • U.S. refineries want to end their use of MTBE as a gasoline additive and switch to ethanol, however the Department of Energy warned there may not be enough ethanol around.

1 comment:

Van Arnold said...

The US Refineries want to end their use because of the thing of this MTBE LITIGATION going on against the oil companies as being liable for the clean up cost of MTBE in water bodies.

Of course MTBE is legal. But still the oil companies will have to face law fro using something which the government had legalized , and as a matter of fact -- mandated its use in 1990.

Do you wanna know more? It sure is interesting.
Check out this link MTBE LITIGATION