Fracking Link has shoddily impact the health of infants

The word ‘fracking’ which is also known as hydraulic fracturing is a well intrusion performed on an oil or gas well, in order to increase the production by improving the flow of hydrocarbons from the drainage area into the well bore. As an allegedly bio-hazardous industry fracking has already attracted controversy, as the early researches have marked that this practice has increase the risk of infant birth defects living near the fracking sites.

Over past few decades in the U.S., the use of fracking a method to extract gas through which chemicals, water and sand are pumped into the ground to discharge trapped fuel deposits has been increased significantly and about 5 years ago the country had produce oil for around 5 million per day and today it produces 7.4 million due to fracking.

According to the research conducted in the month of January 2014 by Lisa McKenzie of the Colorado School of Public Health had discovered that number of congenital heart defects in the infants born to mothers living close to gas wells in Colorado.

Furthermore, two more studies that have not been looked closely shows that in the Pennsylvania, United States new born babies born close to fracking sites were more prone to have low birth weight, which is a sign of developmental problems. Moreover local authorities in Utah which is one of the states of United States are examining a rise in stillbirths after tests, where they found hazardous levels of air pollution from the oil and gas industry.

However, with the rising fracking wells that were also examined by few researchers were resulted in the incidence of neurological defects despite the fact that it was only at high levels of exposure, also premature birth, low birth weight and oral clefts were scrutinize by the researchers for a correlation.

One of the studies that was conducted in Colorado where fracking in five cities of Colorado were banned or drilling within municipal boundaries were also sought long-term moratorium after wells popped up near schools and backyards and industry were also pushed back.

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Saudi crude production to remain high in 2014-2015

Saudi crude production, according to a recent report, will remain high in 2014 as well as 2015.

This report is based on OPEC outages, geopolitical crisis (Libya, Ukraine and Iraq), rising domestic use from the power and transport sectors, growing demand from the refining sector as well as the improving global economy.

The report suggested that the outlook for gas looks bleak, in spite of efforts and plans to tap unconventional resources. The increasing consumption and tight supply may force Saudi to consider imports.

Saudi oil reserves are expected to increase as much as 273 billion bbls by 2017, but may decline to 265 billion by the end of 2023.

 In 2013, Saudi had planned to add 160 billion bbls in additional reserves in the coming years.

The Kingdom has succeeded in maintaining high oil production levels and exports in the first half of 2014.

Experts suggested that crude oil and lease condensates production will stay at current levels throughout the current year.

2014 will see production of nearly 9.78 billion bpd, an increase of 1 per cent from 2013 production levels, but lower than output in 2012.

2015 will likely see a decline in oil production, at 9.8 million bpd.

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Europe’s economy in a fragile state

The fragile economy of Europe is likely to be affected by the never ending conflicts in Ukraine and Iraq. While, the economies of Britain and the US grow strongly, output in the euro bloc has come to a standstill. Germany is losing its hold and Italy is plagued by recession.

The global markets have been affected by the sanctions fight between Russia and the West as well as the US air strikes to stop Islamist militants in Iraq. The sanctions war between Moscow and the European Union and the growing concern over Russia’s invasion of eastern Ukraine have slowed down the economic growth.

Moscow supplies nearly a third of the European Union’s gas needs, Europe has strong trade ties with Russia. Thus, the increasing political conflicts in Ukraine and Iraq could have a major impact on the already weak economy of Europe.

Europe’s sluggish economy may help the US come to the forefront. Investors will test the strength of US rebound, while others are in search of reassurance that the recovery will stick even when central banks make borrowing expensive.

In Britain, unemployment rates may decline but earnings are expected to be lower than the previous year. The situation is similar in the United States. The cost of living is much higher than wage growth.Thus, to trust the recovery of the economies of the US and UK, wages need to rise in line with credit.

China’s economy has witnessed improved growth in the second quarter as the government has taken steps to improve construction of railways and public housing. However, the declining property prices and the high local government debts are slowing down the economy. The government will have to bring in deeper reforms to help push the economy forward. 

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Iranian government announces new economic policy package

The Iranian government recently announced its new economic policy package to help the country emerge from stagflation. This policy is focused on expanding domestic demand, resolving financial shortages and obstacles faced by the country as a result of the western sanctions.

The government is also looking to improve Iran's economic efficiency, especially considering the access to limited resources.

The government plans to boost the economy through a number of financial and foreign exchange policies, and at the same time improved ease of doing business will also help develop the economy.

The new economic policy will help stimulate economic growth through channeling economic resources towards the most efficient economic sectors in order to boost exports and reduce dependence on oil revenues. It focuses on four main areas-

• Macroeconomic policies

• Policies on ease of doing business

• Financial policies

• Economic stimulants

The government has been working toward reducing the rising inflation through monetary regulation and macroeconomic stability. The new policy has helped the government reduce inflation over the past 12 months from 37.5% to 27.7%.

The dual currency exchange system has impacted the economy, which the government hopes to resolve by stabilizing the currency exchange regime and bring down costs in the manufacturing sector.

The government hopes that stable currency and predictable inflation could lay the foundation  for macroeconomic stability.

The new economic policy will focus on eliminating dual currency exchange regime, lowering currency exchange regulations and improve the flow of foreign investment.

Financial restrictions by the banks in their lending to the manufacturing sector has also affected growth, primarily becuase of the increasing government debt.

The repayment of debt could help boost credit expansion and domestic production.

The government is planning to improve ease of doing business through less intervention in the market in terms of pricing goods and services. SMEs have had restricted access to financial resources and bank credits. Thus the banking and credit policy included in the new policy will help regulate the banking sector.

Non-oil exports will help improve domestic demand and reduce dependence on oil revenues and diversify the country's financial resources.

The oil, gas and petrochemical sectors hold a crucial position in the Iranian economy. Backward and forward linkages with several sectors across the economy could help boost production and growth.

This new policy will put emphasis on boosting energy production and consumption efficiency. The Iranian government has adopted the following policies-

• Investment in roads and public transport, introduction of 17,000 buses and 37,000 taxis across the country

• Improving the efficiency of the national railways

• Increasing the country’s gas exports

• Producing 700,000 barrels of crude oil per day from West Karoun oilfield

• Boosting petrochemical exports from $9.9 billion currently to $12.2 billion in 2014-15

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Global alcoholic raw material market is expected to rise in future

The global alcoholic raw material industries in geographical markets is more or less divided in North America, Europe, Asia and other markets where European region is noted as the largest share of alcohol consumption with an overall sales of 30% revenue that is followed by the North American market. According to the researched report, over a period the constituents market of alcohol globally is projected to experience a steady growth.

Driven by a combination of new trends through changing demandpatterns and emerging economies, the growth of global alcohol raw material market such as colours, flavour and other raw materials are expected to reach USD 1.18 billion by the 2019 which is noted to be up from 989.2 million in 2013.

According to the recent reports done by Frost & Sullivan, due to rising demand for yeast and enzymes, strong growth has been projected in the other ingredients sector of alcohol, however flavor is noted as the major sector of the alcohol raw material market. Geographically in developing regions such as Asia-Pacific focus is projected to boost, as in this region the consumer spending on alcohol is mounting high.

Furthermore, the main components of most alcoholic beverages are Ethanol and water, where Ethanol is the most important alcohol fuel that can be formed by converting the starch substance of biomass feedstock into alcohol.

As per analysts, development of new product is likely to gain swiftness in the ingredients legroom as in the alcohol beverage industry innovation is noted as a key success factor, moreover with consumers embracing legitimacy and sticking to products they know best the customer loyalty and brand image will also coerce growth.

Moreover, as smaller and regional industries have substantial knowledge of the local market, companies with a global presence are likely to firm up with them as it will help them to modify alcoholic beverage production to go well with varying regional and local tastes. Furthermore in next few years, the global alcoholic raw material market will uphold a constant growth along with greater investment potential.

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