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Age Of Low Economic Growth
WHETHER it's by the IMF, Jose Manuel Barroso or bond fund Pimco's Bill Gross, the limits to austerity are slowly being recognised. Attempting to cut the deficit is all very well, but if an economy subsequently collapses, it's a case of one step forward, two steps back. In southern Europe, deficit-cutting intentions have been undermined by subsequent - in some cases, truly terrible - economic weakness. And now one of the key claims of austerians, that economic growth has a tendency to collapse when government debt rises above 90 percent of national income, seems to ...
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THE Middle Class is in a funk, its view of the future growing dim as fear rolls in like a storm. An Allstate/National Journal Heartland Monitor poll released on Thursday found that while most Americans (56 percent) hold out hope that they'll be in a higher class at some point, even more Americans (59 percent) are worried about falling out of their current class over the next few years. In fact, more than 8 in 10 Americans believe that more people have fallen out of the middle class than moved .
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Total keen to explore Qatar’s energy sector: CEO

SANTHOSH CHANDRAN

PARIS

FRENCH oil giant Total, the major player in Gulf region’s energy sector, is sketching strategies to develop technologies to explore the energy sector of Qatar.

Speaking to media persons at Total’s headquarters in Paris recently, CEO Christophe de Margerie said, “Total is eager to explore the potentials of energy sector in Qatar. Total has given much priority for business in the region. Discussions and researches in this regard are under process.” He said, “Qatar should take the decisions. Our partnership with Qatar will strengthen further in future.” “An agreement recently signed by Total with Qatar Petroleum to begin the second phase of Ras Laffan development projects is considered as positive move in this direction. What’s important is to compete and to compete in offering the best of what you have. That’s a promise I’ve made to the concerned authorities in Qatar”, Margerie said.

The project has a high exposure in Qatar not only due to increasing demand of domestic market for transportation fuels but also as it is part of Qatar’s strategy to diversify its energy activities downstream in a context of tougher competition of natural gas market.

Total has long-term partnership with Qatar in oil and gas, LNG operations and petrochemicals.

The presentations made by the Total’s high-level officials on various subjects featured current projects operated by Total and researches and new technology developed by Total in the energy sector.

Delivering a speech on ‘Solar Power and New Energy’ President of New Energy Philippe Boisseau said that production costs of solar energy will steadily fall in the nearest future.

“Countries like Saudi Arabia have already gone long in this direction. Qatar has also some plans in renewable energy. Governments in Middle East are seeking new ways to generate power to face a strong increase in the power demand.

“The researches, which are under progress jointly by Total and Qatar Foundation will help to explore new opportunities in renewable energy,” Boisseau said.


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