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News

Scientists Reverse Engineer Firefly to Improve LED Efficiency

Scientists Reverse Engineer Firefly to Improve LED Efficiency

Jan 09, 2013 at 16:46 | James Burgess

Scientists are always looking to improve the efficiency of mechanisms in order to reduce energy wastage. In the past fireflies have been studied and their light producing chemical reaction imitated…

Domino's Pizza Invests in Electric Delivery Vehicles, Slashing Running Costs

Domino's Pizza Invests in Electric Delivery Vehicles, Slashing Running Costs

Jan 09, 2013 at 16:45 | Charles Kennedy

The Swindon (in South West England) branch of Domino’s Pizza (NYSE: DPZ) has bought two electric vehicles to add to its delivery fleet, in order to aid its attempts to…

Why Central Bank Independence is not all it's Cracked up to be

Why Central Bank Independence is not all it's Cracked up to be

Jan 09, 2013 at 16:43 | Editorial Dept

In 2009 a number of prominent economists signed a petition arguing for central bank independence. I was less enthusiastic writing:There is nothing magical about independence that makes for…

US Government Says EV's are too Quiet and Pose Risk to Pedestrians

US Government Says EV's are too Quiet and Pose Risk to Pedestrians

Jan 08, 2013 at 15:52 | James Burgess

Electric cars have been deemed too quiet when travelling at slow speeds, and as such pose a safety risk to pedestrians and cyclists. The US government has told EV, and…

Oil Tanker Collides with San Francisco Bay Bridge

Oil Tanker Collides with San Francisco Bay Bridge

Jan 08, 2013 at 15:51 | Charles Kennedy

Yesterday at 11.20am an oil tanker collided with San Francisco-Oakland Bay Bridge.The tanker, the Overseas Reymar, was damaged above the water line, and there was no breach to…

Chesapeake's New Board has Completely Cut CEO McClendon's Bonus

Chesapeake's New Board has Completely Cut CEO McClendon's Bonus

Jan 08, 2013 at 15:49 | Joao Peixe

Chesapeake Energy Corp (NYSE:CHK) is the second largest natural gas company in the US, and one of the giants that has led the US shale gas boom over the last…

Kuwait still Plans to Build Middle East's Largest Oil Refinery Despite Delays

Kuwait still Plans to Build Middle East's Largest Oil Refinery Despite Delays

Jan 08, 2013 at 15:49 | Joao Peixe

Despite years of delays caused by political tensions, the Kuwait National Petroleum Company (KNPC) has stated that it still intends to construct the Middle East’s largest oil refinery.A…

Will a $1 Trillion Coin Solve the US Debt Problem?

Will a $1 Trillion Coin Solve the US Debt Problem?

Jan 08, 2013 at 15:46 | Editorial Dept

There is a lot of crazy talk out there regarding the minting of a $1 trillion coin to get around the debt ceiling.Today Paul Krugman hopped on the…

Iran Spent $25 Billion in 2012 to Retain its Position in OPEC

Iran Spent $25 Billion in 2012 to Retain its Position in OPEC

Jan 07, 2013 at 16:47 | James Burgess

As Western sanctions have started to take real effect on Iran’s oil exports its production volumes have been reduced sharply throughout 2012, which allowed Iraq to overtake Iran as the…

Natural Disasters Cost the World $160 Billion in 2012

Natural Disasters Cost the World $160 Billion in 2012

Jan 07, 2013 at 16:46 | Charles Kennedy

The world’s largest reinsurance firm, Munich Re (MUV2.DE), has stated that Natural Disasters alone have cost the world $160 billion in 2012.The US accounted for 67% of those…

Shell Leads the Way to Move Offshore Production Process to the Seabed

Shell Leads the Way to Move Offshore Production Process to the Seabed

Jan 07, 2013 at 16:45 | Joao Peixe

Shells latest fiasco with offshore drilling in the Arctic highlights the risks involved with such ventures; so it is of little surprise that many oil & gas companies, Shell (NYSE:…

Japan's Poor Rural Communities Need Nuclear Industry's Jobs

Japan's Poor Rural Communities Need Nuclear Industry's Jobs

Jan 07, 2013 at 16:44 | Joao Peixe

Following the Fukushima nuclear disaster all but two of Japan’s 50 existing reactors were closed for safety checks. Once receiving the all clear from the new regulator they could only…

Engineers to Build House Entirely from Waste

Engineers to Build House Entirely from Waste

Jan 04, 2013 at 16:31 | Joao Peixe

Many projects which push the bounds of traditional thinking and ways of doing things are often not about the acceptance of the actual project as a whole, but the development…

Transocean Agrees to Pay $1.4 Billion for Role in BP Oil Spill

Transocean Agrees to Pay $1.4 Billion for Role in BP Oil Spill

Jan 04, 2013 at 16:29 | James Burgess

The details of the Deepwater Horizon oil spill back in 2010 are well known around the world, as is that fact that cases are still being fought to determine liability…

Firefighters Sent to Repair Leak may have Caused Huge Fire at Chevron Refinery

Firefighters Sent to Repair Leak may have Caused Huge Fire at Chevron Refinery

Jan 04, 2013 at 16:28 | Charles Kennedy

An investigation is underway into the cause of the huge fire at the Chevron refinery in August which destroyed part of the refinery and sent 15,000 people to hospital seeking…

Middle East's Largest Refuelling Station Struggles Due to Iran Sanctions

Middle East's Largest Refuelling Station Struggles Due to Iran Sanctions

Jan 04, 2013 at 16:27 | Charles Kennedy

The Middle East’s biggest ship refuelling station, at the port of Fujairah in the UAE, may soon have to start charging higher costs as the West’s sanctions against Iran start…

Study Finds Shale Gas is not as Clean as Thought

Study Finds Shale Gas is not as Clean as Thought

Jan 04, 2013 at 16:26 | Joao Peixe

Last February scientists from the National Oceanic and Atmosphere Administration (NOAA) and the University of Colorado, released the findings of a study that claimed that around four percent of methane…

Warren Buffet Buys Antelope Valley Solar Projects for $2.5 Billion

Warren Buffet Buys Antelope Valley Solar Projects for $2.5 Billion

Jan 03, 2013 at 16:06 | Charles Kennedy

MidAmerican Energy Holding Co., the energy utility owned by Warrant Buffett’s Berkshire Hathaway, has agreed to pay SunPower Corp. between $2-2.5 billion for the design, development, and installation of the…

UAE Agrees $12 Billion Deal to Help Develop Turkey's Coal Reserves

UAE Agrees $12 Billion Deal to Help Develop Turkey's Coal Reserves

Jan 03, 2013 at 16:04 | Joao Peixe

Turkey has just signed a $12 billion agreement with the United Arab Emirates (UAE) to develop its huge coal fields in the southern part of the country. The deal between…

Installing Cable Car Systems in Cities to Reduce Congestion

Installing Cable Car Systems in Cities to Reduce Congestion

Jan 03, 2013 at 16:03 | Joao Peixe

As the world population grows, and economies expand, then the population in cities increases; this leads to more vehicles on the road, and in turn congestion.One way in…

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