The super-rich saw their fortunes grow by $2.5 billion a day last year, Oxfam claims

Winnie Byanyima, executive director of Oxfam International, said those in authority needed to reevaluate their systems in order to address poverty and tackle inequality. “The size of your bank account should not dictate how many years your children spend in school, or how long you live, yet this is the reality in too many countries across the globe. While corporations and the super-rich enjoy low tax bills, millions of girls are denied a decent education and women are dying for lack of maternity


Winnie Byanyima, executive director of Oxfam International, said those in authority needed to reevaluate their systems in order to address poverty and tackle inequality. “The size of your bank account should not dictate how many years your children spend in school, or how long you live, yet this is the reality in too many countries across the globe. While corporations and the super-rich enjoy low tax bills, millions of girls are denied a decent education and women are dying for lack of maternity
The super-rich saw their fortunes grow by $2.5 billion a day last year, Oxfam claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: chloe taylor, stephan levesque, getty images
Keywords: news, cnbc, companies, saw, 25, superrich, long, oxfam, healthcare, spend, women, children, fortunes, tax, twice, education, grow, needs, billion, claims, day


The super-rich saw their fortunes grow by $2.5 billion a day last year, Oxfam claims

Winnie Byanyima, executive director of Oxfam International, said those in authority needed to reevaluate their systems in order to address poverty and tackle inequality.

“Governments must now deliver real change by ensuring corporations and wealthy individuals pay their fair share of tax and investing this money in free healthcare and education that meets the needs of everyone – including women and girls whose needs are so often overlooked,” she said in a press release on Monday.

“The size of your bank account should not dictate how many years your children spend in school, or how long you live, yet this is the reality in too many countries across the globe. While corporations and the super-rich enjoy low tax bills, millions of girls are denied a decent education and women are dying for lack of maternity care.”

Around 10,000 people die every day because they cannot access affordable healthcare, according to Oxfam. Children in developing countries are twice as likely to die before the age of five if they come from a poor family, while rich children spend twice as long in education.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: chloe taylor, stephan levesque, getty images
Keywords: news, cnbc, companies, saw, 25, superrich, long, oxfam, healthcare, spend, women, children, fortunes, tax, twice, education, grow, needs, billion, claims, day


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Hong Kong’s port has fallen behind rivals. Industry experts say it needs to be more competitive

Hong Kong’s once world-beating port needs to raise its game or risk falling further behind competitors in Shanghai, Singapore and elsewhere, industry experts said. Since 2004, Hong Kong has gone from being the biggest port in the world in shipping containers processed to a ranking, according to Lloyd’s List, of fifth in 2017. According to Lloyd’s List, Shanghai handled just over 40 million containers in 2017, which was nearly double Hong Kong’s total of less than 21 million. Peter Levesque, grou


Hong Kong’s once world-beating port needs to raise its game or risk falling further behind competitors in Shanghai, Singapore and elsewhere, industry experts said. Since 2004, Hong Kong has gone from being the biggest port in the world in shipping containers processed to a ranking, according to Lloyd’s List, of fifth in 2017. According to Lloyd’s List, Shanghai handled just over 40 million containers in 2017, which was nearly double Hong Kong’s total of less than 21 million. Peter Levesque, grou
Hong Kong’s port has fallen behind rivals. Industry experts say it needs to be more competitive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: kelly olsen, paul yeung, bloomberg, getty images
Keywords: news, cnbc, companies, lloyds, fallen, trend, rivals, region, stop, port, say, shipping, competitive, experts, kongs, industry, list, needs, shanghai, hong


Hong Kong's port has fallen behind rivals. Industry experts say it needs to be more competitive

Hong Kong’s once world-beating port needs to raise its game or risk falling further behind competitors in Shanghai, Singapore and elsewhere, industry experts said.

The city’s massive container facility has seen rivals, especially in mainland China, expand and improve at a faster pace, air and rail options for shipping goods increase and, more recently, uncertainty resulting from the ongoing Washington-Beijing trade war.

Since 2004, Hong Kong has gone from being the biggest port in the world in shipping containers processed to a ranking, according to Lloyd’s List, of fifth in 2017. Industry expectations are for further declines.

According to Lloyd’s List, Shanghai handled just over 40 million containers in 2017, which was nearly double Hong Kong’s total of less than 21 million.

Peter Levesque, group managing director at Modern Terminals, a container terminal operator, told CNBC’s Emily Tan on Monday that Chinese and other ports in the region have become more competitive and that has put pressure on Hong Kong.

“So we need to do something to stop that trend, to stop the downward trend, and to maintain Hong Kong’s competitiveness in the region,” Levesque said.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: kelly olsen, paul yeung, bloomberg, getty images
Keywords: news, cnbc, companies, lloyds, fallen, trend, rivals, region, stop, port, say, shipping, competitive, experts, kongs, industry, list, needs, shanghai, hong


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Fridges, planes and soldiers: How the UK is preparing for a no-deal Brexit

Nobody seems to really want it, but everyone argues the U.K. needs to be ready for it: A no-deal Brexit — the possibility that the U.K.’s departure from the European Union on March 29 is abrupt. Stephen Barclay, the U.K.’s Brexit secretary, said earlier this month: “A responsible government needs to ensure that we are ready for that default option.” A no-deal Brexit would mean that the UK would leave the EU without a transition period and without any big agreement over their future relationship.


Nobody seems to really want it, but everyone argues the U.K. needs to be ready for it: A no-deal Brexit — the possibility that the U.K.’s departure from the European Union on March 29 is abrupt. Stephen Barclay, the U.K.’s Brexit secretary, said earlier this month: “A responsible government needs to ensure that we are ready for that default option.” A no-deal Brexit would mean that the UK would leave the EU without a transition period and without any big agreement over their future relationship.
Fridges, planes and soldiers: How the UK is preparing for a no-deal Brexit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: silvia amaro, justin tallis, afp, getty images
Keywords: news, cnbc, companies, uk, needs, ready, european, preparing, eu, brexit, planes, month, uks, nodeal, soldiers, secretary, fridges


Fridges, planes and soldiers: How the UK is preparing for a no-deal Brexit

Nobody seems to really want it, but everyone argues the U.K. needs to be ready for it: A no-deal Brexit — the possibility that the U.K.’s departure from the European Union on March 29 is abrupt.

Stephen Barclay, the U.K.’s Brexit secretary, said earlier this month: “A responsible government needs to ensure that we are ready for that default option.” A no-deal Brexit would mean that the UK would leave the EU without a transition period and without any big agreement over their future relationship. But pay no huge sums of money and wouldn’t be tied to the EU for an indefinite amount of time.

During an interview to Sky News, he added that the government is “increasing communications” with pharmaceutical companies and European citizens living in the U.K.

But what else is the U.K. government doing? And is it enough?

“We have contracts in place for 5,000 (fridges) – and these are big, industrial refrigeration units,” Health Secretary Matt Hancock told the BBC this month. He added that the government spent “just over £10 million” with these items.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: silvia amaro, justin tallis, afp, getty images
Keywords: news, cnbc, companies, uk, needs, ready, european, preparing, eu, brexit, planes, month, uks, nodeal, soldiers, secretary, fridges


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Labour leadership needs to ‘grow up’: UK Conservative lawmaker

Labour leadership needs to ‘grow up’: UK Conservative lawmaker12 Hours AgoJames Cleverly, deputy chairman of the U.K.’s Conservative Party, says the leadership of the Labour Party should stop talking about “fantasy politics” and the idea of a general election.


Labour leadership needs to ‘grow up’: UK Conservative lawmaker12 Hours AgoJames Cleverly, deputy chairman of the U.K.’s Conservative Party, says the leadership of the Labour Party should stop talking about “fantasy politics” and the idea of a general election.
Labour leadership needs to ‘grow up’: UK Conservative lawmaker Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15
Keywords: news, cnbc, companies, labour, lawmaker, conservative, uks, needs, grow, talking, leadership, politics, party, stop, uk


Labour leadership needs to 'grow up': UK Conservative lawmaker

Labour leadership needs to ‘grow up’: UK Conservative lawmaker

12 Hours Ago

James Cleverly, deputy chairman of the U.K.’s Conservative Party, says the leadership of the Labour Party should stop talking about “fantasy politics” and the idea of a general election.


Company: cnbc, Activity: cnbc, Date: 2019-01-15
Keywords: news, cnbc, companies, labour, lawmaker, conservative, uks, needs, grow, talking, leadership, politics, party, stop, uk


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Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst

Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained wor


Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained wor
Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, production, company, house, buy, ives, apple, video, terms, lionsgate, services, needs, a24, tv, sony, plans, pictures, deal


Apple needs to buy a production house like A24, Lionsgate, or Sony Pictures: Analyst

Performance of FANG will be mixed in 2019, says analyst 5 Hours Ago | 08:38

Apple must get serious and acquire a movie production company or the tech giant will not succeed as a services business, noted analyst Dan Ives told CNBC on Wednesday.

Apple should look into buying independent A24, or a bigger entertainment company such as Sony Pictures or Lionsgate, suggested the managing director of equity research at Wedbush Securities. “If they’re not aggressive in M&A from a content perspective … this will be, in our opinion, the biggest mistake that [CEO Tim Cook] and Apple has made, because that’s the way that the services flywheel is going to work in terms of the install base.”

With plans to jump into the crowded pool of online video, Apple is rumored to be launching its own streaming services as soon as March. The venture would allow the iPhone maker to enter an key market as it focuses more on providing subscription services and compete with established video providers like Netflix, Amazon Video, and Hulu.

Last year, Apple announced a multiyear deal with A24, a New York-based production company, that plans to make movies and TV shows for Apple device owners. Apple obtained worldwide rights to “The Elephant Queen,” a documentary directed by Emmy-Award winning filmmakers Victoria Stone and Mark Deeble, in September. It also cut a deal, according to Variety, with director-producer Justin Lin for TV content.

“The clock has struck midnight for Apple in terms of content,” Ives said on “Squawk Alley.”

Apple did not immediately respond to CNBC’s request for comment.

Shares of Apple were lower at midday on Monday. The stock has been working to recover ever since losing about 10 percent after cutting its fiscal first quarter guidance earlier this month.

Apple’s last major acquisition was a $400 million purchase of song-identification app Shazam in December 2017, which followed the $3 billion acquisition of Beat Electronics in 2014.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, production, company, house, buy, ives, apple, video, terms, lionsgate, services, needs, a24, tv, sony, plans, pictures, deal


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Asia stocks mostly higher amid improving investor sentiment following US gains

Asia stocks mostly gained Friday amid improved investor sentiment following overnight gains on Wall Street. The mainland Chinese markets, watched in relation to the ongoing trade war between Beijing and Washington, were higher on the day. The moves followed after officials from Washington and Beijing met for trade talks earlier this week — details about the progress were sparse. U.S. and China have halted an ongoing trade war to try and resolve sticking issues on a number of areas. “There are so


Asia stocks mostly gained Friday amid improved investor sentiment following overnight gains on Wall Street. The mainland Chinese markets, watched in relation to the ongoing trade war between Beijing and Washington, were higher on the day. The moves followed after officials from Washington and Beijing met for trade talks earlier this week — details about the progress were sparse. U.S. and China have halted an ongoing trade war to try and resolve sticking issues on a number of areas. “There are so
Asia stocks mostly higher amid improving investor sentiment following US gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, gained, investor, trump, higher, beijing, amid, improving, think, sentiment, needs, gains, asia, war, stocks, following, washington, deal, win


Asia stocks mostly higher amid improving investor sentiment following US gains

Asia stocks mostly gained Friday amid improved investor sentiment following overnight gains on Wall Street.

The mainland Chinese markets, watched in relation to the ongoing trade war between Beijing and Washington, were higher on the day. The Shanghai composite was up about 0.74 percent to close around 2,553.83 while the Shenzhen composite gained 0.758 percent to about 1,313.36. The Shenzhen component also rose 0.611 percent to close around 7,474.01.

Meanwhile, Hong Kong’s Hang Seng index gained about 0.5 percent, as of its final hour of trade.

The moves followed after officials from Washington and Beijing met for trade talks earlier this week — details about the progress were sparse. U.S. and China have halted an ongoing trade war to try and resolve sticking issues on a number of areas. Analysts who spoke to CNBC on Friday were divided whether a deal between the two economic powerhouses would be forthcoming.

“I think (U.S. President Donald) Trump wants to have a win and (Chinese leader) Xi Jinping desperately needs to have a win. So, I think they’re gonna come to some agreement … probably in the first quarter,” Andrew Collier, managing director at Orient Capital Research, told CNBC’s “Street Signs” on Friday.

Collier said, however, trade frictions between Washington and Beijing are unlikely to end as “China clearly … is a threat to the United States and plus it has done many things that many countries disagree with.”

Others did not agree.

“There are some that would argue that the Trump administration needs a deal, given that they’re walking into an election cycle in 2020 … I would respectfully disagree,” James Sullivan, head of equity research ex-Japan at J.P. Morgan, said. “What the Trump administration needs to do is incite his base. A deal, by definition, means compromise. Compromise doesn’t incite.”


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, gained, investor, trump, higher, beijing, amid, improving, think, sentiment, needs, gains, asia, war, stocks, following, washington, deal, win


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North Korea’s Kim appears to have a big goal: Winning Belt and Road investments from Beijing

There was ‘frustration’ in Kim Jong Un’s message: Expert 4:50 AM ET Wed, 2 Jan 2019 | 03:00But to do so, Pyongyang needs help from its rich neighbors. The nuclear-armed nation is seeking more than $7.7 million in investment, the Seoul-based online newspaper NK News reported last month, citing information from a website run by North Korea’s foreign trade ministry. Xi’s Belt and Road project offers the perfect answer to those needs. Pyongyang “would love to be part of Belt and Road,” Dane Chamorro


There was ‘frustration’ in Kim Jong Un’s message: Expert 4:50 AM ET Wed, 2 Jan 2019 | 03:00But to do so, Pyongyang needs help from its rich neighbors. The nuclear-armed nation is seeking more than $7.7 million in investment, the Seoul-based online newspaper NK News reported last month, citing information from a website run by North Korea’s foreign trade ministry. Xi’s Belt and Road project offers the perfect answer to those needs. Pyongyang “would love to be part of Belt and Road,” Dane Chamorro
North Korea’s Kim appears to have a big goal: Winning Belt and Road investments from Beijing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: nyshka chandran, kcna, -mintaro oba, former us state department official
Keywords: news, cnbc, companies, investments, north, winning, koreas, worth, website, pyongyang, goal, pyongyangs, chamorro, needs, big, kim, road, beijing, belt


North Korea's Kim appears to have a big goal: Winning Belt and Road investments from Beijing

There was ‘frustration’ in Kim Jong Un’s message: Expert 4:50 AM ET Wed, 2 Jan 2019 | 03:00

But to do so, Pyongyang needs help from its rich neighbors. The nuclear-armed nation is seeking more than $7.7 million in investment, the Seoul-based online newspaper NK News reported last month, citing information from a website run by North Korea’s foreign trade ministry.

Xi’s Belt and Road project offers the perfect answer to those needs. China has historically been Pyongyang’s largest trading partner.

Pyongyang “would love to be part of Belt and Road,” Dane Chamorro, a senior partner in the Asia Pacific division of Control Risks, a consulting firm specializing in politics told CNBC on Friday. Kim’s government is waiting for an invitation so his country can get assistance on the construction of railway links and ports and other facilities, Chamorro said.

Beijing also seems keen on Pyongyang’s inclusion, with the Chinese government inviting a North Korean delegation to attend a Belt and Road summit in 2017 — but it’s unlikely to take any action for now.

Including Pyongyang in the BRI is “probably more trouble than it’s worth” at the present moment, said Mintaro Oba, a former U.S. State Department official who specialized in the Koreas during the administration of former President Barack Obama.

For one, sanctions still remain in place. Beijing, however, has called for those penalties to be eased.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: nyshka chandran, kcna, -mintaro oba, former us state department official
Keywords: news, cnbc, companies, investments, north, winning, koreas, worth, website, pyongyang, goal, pyongyangs, chamorro, needs, big, kim, road, beijing, belt


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Apple needs to overcome a core challenge, and it’s not China, says top analyst Toni Sacconaghi

In a rare acknowledgment of slowing sales, Apple lowered revenue guidance to $84 billion, down from the $89 billion to $93 billion it had previously projected. But the initial reaction is that it was worse than we thought,” Sacconaghi said. However, it could decide to come out with second, lower-priced versions of its higher-end phones, he explained. For one, Apple is still not that inexpensive in relation to the rest of the market, he said. “That makes Apple a better company and provides a road


In a rare acknowledgment of slowing sales, Apple lowered revenue guidance to $84 billion, down from the $89 billion to $93 billion it had previously projected. But the initial reaction is that it was worse than we thought,” Sacconaghi said. However, it could decide to come out with second, lower-priced versions of its higher-end phones, he explained. For one, Apple is still not that inexpensive in relation to the rest of the market, he said. “That makes Apple a better company and provides a road
Apple needs to overcome a core challenge, and it’s not China, says top analyst Toni Sacconaghi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: michelle fox, john gress, magdalena petrova
Keywords: news, cnbc, companies, core, challenge, iphone, china, apple, analyst, needs, overcome, sacconaghi, numbers, come, toni, billion, second, worse, phones, supply


Apple needs to overcome a core challenge, and it's not China, says top analyst Toni Sacconaghi

In an interview with CNBC’s Josh Lipton on Wednesday, Cook said, “Our shortfall is over 100 percent from iPhone and it’s primarily in greater China.”

“It’s clear that the economy began to slow there for the second half and what I believe to be the case is the trade tensions between the United States and China put additional pressure on their economy,” the CEO added.

In a rare acknowledgment of slowing sales, Apple lowered revenue guidance to $84 billion, down from the $89 billion to $93 billion it had previously projected. The company cut its gross margin forecast to about 38 percent from between 38 percent and 38.5 percent.

“The magnitude of the decline in iPhones was bigger than anyone had anticipated. There were lots of warning signs from the supply chain that iPhones would be weak. But the initial reaction is that it was worse than we thought,” Sacconaghi said.

He doesn’t expect Apple to necessarily drop the cost of the phones because it is a “premium brand” and would instead try to bring new innovation to the marketplace rather than a lower price. However, it could decide to come out with second, lower-priced versions of its higher-end phones, he explained.

Apple shares tumbled after the news, closing down 10 percent on Thursday.

Sacconaghi wouldn’t buy the the dip right now.

For one, Apple is still not that inexpensive in relation to the rest of the market, he said. Also, we don’t know if the company’s numbers can still come down further, he added. “Things could get worse in China.”

“Given that valuation isn’t compelling, given that numbers might still need to come down and given that we don’t think next year’s iPhone cycle is going to be particularly compelling, I’m not so sure you need to run out and buy the stock,” he said.

However, he’s not selling because the services business is still growing.

“That makes Apple a better company and provides a road map for improving earnings going forward,” Sacconaghi said.

— CNBC’s Steve Kovach contributed to this report.

WATCH: The journey of an iPhone — a look at the complex, global supply chain and dozens of minerals needed to build one phone


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: michelle fox, john gress, magdalena petrova
Keywords: news, cnbc, companies, core, challenge, iphone, china, apple, analyst, needs, overcome, sacconaghi, numbers, come, toni, billion, second, worse, phones, supply


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Facebook needs to make ‘radical changes’: Aegis Capital

Facebook needs to make ‘radical changes’: Aegis Capital8 Hours AgoThe scandals that Facebook has encountered necessitate “some level of management changes” or even changes at the board level, says Victor Anthony of Aegis Capital.


Facebook needs to make ‘radical changes’: Aegis Capital8 Hours AgoThe scandals that Facebook has encountered necessitate “some level of management changes” or even changes at the board level, says Victor Anthony of Aegis Capital.
Facebook needs to make ‘radical changes’: Aegis Capital Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-27
Keywords: news, cnbc, companies, changes, necessitate, aegis, facebook, level, management, scandals, radical, capital, needs, victor


Facebook needs to make 'radical changes': Aegis Capital

Facebook needs to make ‘radical changes’: Aegis Capital

8 Hours Ago

The scandals that Facebook has encountered necessitate “some level of management changes” or even changes at the board level, says Victor Anthony of Aegis Capital.


Company: cnbc, Activity: cnbc, Date: 2018-12-27
Keywords: news, cnbc, companies, changes, necessitate, aegis, facebook, level, management, scandals, radical, capital, needs, victor


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Energy needs and climate challenges: Gas on the march

Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters. According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. Using agricultural by products would yield an energy content of roughly


Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters. According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. Using agricultural by products would yield an energy content of roughly
Energy needs and climate challenges: Gas on the march Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-24
Keywords: news, cnbc, companies, trillion, challenges, power, global, reserves, meters, cubic, energy, needs, oil, natural, climate, gas


Energy needs and climate challenges: Gas on the march

Global Tour of Planet Gas

The five countries with the biggest proven reserves are1:

Russia, with 35 trillion cubic meters, or 18.1 percent of global reserves.

Iran, with 33.2 trillion cubic meters, or 17.2 percent of the world’s reserves.

Qatar, with 24.9 trillion cubic meters, or 12.9 percent of global reserves. Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001.

Turkmenistan, with 19.5 trillion cubic meters, or 10.1 percent of global reserves.

The United States, with 8.7 trillion cubic meters, or 4.5 percent of global reserves.

As with oil, recent technological innovations are enabling gas exploration to reach offshore, Arctic Circle and ultra-deepwater reserves considered difficult to develop before. Today nearly two-thirds of new finds are offshore. Technological innovations are also keeping costs low and increasing productivity for onshore shale gas and tight gas production. IFP Énergies nouvelles (IFPEN) expects production to increase 50 percent by 2020. Potential yet-to-find gas resources could cover up to 120 years of global consumption.

The unconventional gas — shale gas and coalbed methane — revolution has upset the global applecart in the last decade. Found worldwide, in North and South America, China, Australia and Russia, among others, technically recoverable reserves have soared to almost 240 years of consumption1. Many experts believe that unconventional gas resources2 are every bit as sizable as their conventional counterparts.

Global production is dominated by the United States, which is now the world’s top gas producer, with output of 750 billion cubic meters in 20163. Today, gas is the country’s second-biggest energy resource, supplying more than half of U.S. households. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters.

Reserve estimates are tricky given how much reserve volumes change with shifting economic and technological parameters; no one can confirm the accuracy of the figures. Because governments aren’t subject to shared standards, only publicly listed oil and gas companies are required to provide exact figures. Yet many of the biggest ones are national oil companies.

As global demand climbs, the energy mix includes more natural gas (a quarter of demand in 20174). According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. China alone accounts for a third of gas demand (31 billion cubic meters1). Power generation and industry are — and will remain — the main drivers of this expansion. Gas will increasingly replace coal in both sectors.

Most important, however, natural gas is the lowest-carbon fossil fuel. It emits fewer air pollutants such as PM 2.5, or fine particulates that become suspended in the air; NOx, or gases composed of nitrogen and oxygen; and SOx, or gases made up of sulfur and oxygen. All are harmful to human health and regularly singled out by the WHO (World Health Organization). Greater use of natural gas in transportation, housing and industry will sharply curtail those emissions. Already, big cities such as New York, Toronto, Dublin, Istanbul and Berlin have seen their air pollution rates drop by 69 to 98 percent after natural gas was substituted for heavy fuel oil or coal in industry and power generation5.

Gas also partners well with the growing use of renewables, certain of which suffer from intermittent availability. The operational flexibility of gas-fired power plants — fast restarts and fast build-up to full capacity — makes them a good match for renewables. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. That makes gas an ally in the energy transition to carbon-neutral, less polluting economies.

Gas can also be a renewable energy. Biogas, obtained by treating agriculture, forest or any other organic waste source, has strong future potential. According to France’s Association technique énergie environnement (ATEE), 750 million tons of oil equivalent (Mtoe) could be produced worldwide each year via methanation of municipal waste. Using agricultural by products would yield an energy content of roughly 1,000 Mtoe a year, enough to cover global gas consumption.


Company: cnbc, Activity: cnbc, Date: 2018-12-24
Keywords: news, cnbc, companies, trillion, challenges, power, global, reserves, meters, cubic, energy, needs, oil, natural, climate, gas


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