China Surpasses US as World's Top Energy Consumer

China Surpasses US as World's Top Energy Consumer
China is now king of the world in energy consumption, surpassing the U.S. years ahead of forecasts in a milestone that left the Asian giant immediately rejecting its new crown. Sensitive to its status as the world's biggest polluter, China has long pointed fingers at developed nations in climate change talks and resists any label that could increase international pressure for it to take a larger role in curbing greenhouse gas emissions. When the Paris-based International Energy Agency released its data on Tuesday, China branded it "unreliable." The United States still consumes more energy and oil per capita than China. But China's faster-than-expected shift has global consequences for markets and the environment, reflecting its transformation from a nation of subsistence farmers to one of workers increasingly trading their popular bicycles for cars and buying air conditioners and other energy-hungry home electronics.

Consumer At Fault

Toyota Concedes 2 Flaws Caused Loss of Control
Toyota said Wednesday that its investigation of about 2,000 vehicles reported to experience sudden acceleration found evidence that sticking accelerator pedals and interference by floor mats — the subjects of two big recalls — did indeed cause some of the incidents.

Steve Wynn

Keep The Euro Low

Afghanistan Minerals Worth Trillons

Deposits Worth Up To $3 Trillion
Initial discoveries of untapped mineral deposits in poverty-stricken Afghanistan are "worth up to three trillion dollars", the country's mines minister said Thursday. The government tally came three days after US officials put their estimate of the value of the country's reserves of iron, copper, cobalt and gold at at least one trillion dollars.

Jeff Rubin on Oil

Lou Dobbs Shot At

$1 Billion Security Bill For Canada

$1B Security Bill Cost
Finance Minister Jim Flaherty says the $1 billion security bill for the G8 and G20 summits is just the cost of doing business if Canada wants to be a leading country on the world stage.

The Upcoming Crash

Newsnight 26th May: Hugh Hendry