Rising oil prices – the situation in the Middle East
Rising oil – to be concerned?
Simply, yes. Why?
- Many of the oil producing countries in the Middle East are facing Political turmoil and civil unrest…
- Subsidies are said to be cut for many of these countries, especially Iran (which has a considerable subsidy scheme) due to heavy sanctions by the EU and USA.
- Demand for water and petrol are constantly rising yet the increase in supply of oil is not exponential, the demand for it however is looking to be.
- Saudia Arabia, the main exporter of oil is developing other forms of energy aside of oil.
- According to the Economist (http://econ.st/FQGL5i) projected demand for oil is supposed to rise to 100 million barrels a day by 2030. China’s demand for oil has risen 90% { now 4.3 million barrels a day}.
Source: http://bit.ly/IAHRhY
What can we do?
We are really stuck with two options here. Either find alternative solutions to oil {a very costly project but seems to be the only plausible solution} OR continue sanctioning Iran and other oil producing countries for rising oil prices.. However sanctions do entail political problems and perhaps even cuts in supply. OPEC need to make a move quickly before things get out of hand and we are left with another Gulf war.
Our first society video!
Make a change, no matter what area you are interested in.
Creativity is thinking up…
Creativity is thinking up new things. Innovation is doing new things.
~ Theodore Levitt
Where good ideas come from
Using innovative ways of teaching – drawing animated pictures! Who would’ve guessed.. Do you think this is the way to go? Is it really that useful, does it keep you interested and does it stick to your memory? Does are the most important questions, and to be honest, they do. It works really well, the only problem is the time associated with making such a short video. Perhaps with some more advances in technology can we use these sorts of methods to teach students at primary, middle and high school – seeing as the attention span of most students is quite low. According to a BBC article in 2010, students have an attention span of 10 minutes… {Source: http://news.bbc.co.uk/1/hi/education/8449307.stm}
It is time to get the animation on!
How can we prevent such a global economic crisis next time?
Capitalism, is it working?
The World Economic Forum, a non-profit organization based in Switzerland, with huge media attention and influence, has recently held a debate on the future of capitalism. Being a student, and a keen one thinking about venturing into the investment and banking world, this debate marks an important episode in my life, and I am sure that the debate on capitalism is one to remember for a long time. The biggest problem of capitalism is the gap of inequality, the gap that clearly separates the gainers from the losers. For centuries we have thoroughly defended capitalism, embraced it and marked its inner foundation as part of our economic system in most developed countries around the world. What if it isn’t the way to go? I am not proposing an extreme structural change that will make private property less valuable, instead I am proposing the Nordic model system. A form of capitalism that caps the total allowance from bonuses, salaries and offers a extensive welfare system that is both highly credible and worthy. We live in a world that undergoes innovation in nearly every sector and area of the economy every single day but when it comes to politics most of us are not aware of the endless possibilities that it offers for ourselves, and the common good. Right now capitalism is outdated, because greed has rendered it incapable of satisfying everyone. Self-interest has always played a role in keeping both sides of the transaction happy but it seems to have taken another step in the 21st century. Self-interest, let us not forget, is about seeking the best outcome for oneself, but other people who are also part of that transaction, seek the best outcome as well. It does not have to be equally beneficial for both parties involved in the transaction, but some sort of benefit has to arise from both sides. The advances in innovative technologies has made us able to purchase bonds in Germany or in Japan. They have given us a new horizon of dealing with financial instruments but the innovation has also caused more risk and greed. Credit default swaps have lead to global financial companies purchasing what they believed to be ‘extremely safe’ CDS (rating agencies had given most junk swaps a triple A rating). When those CDSs were defaulted, the whole system came crashing down, taking everything with them.
Click image to read about Credit Default Swaps
Source: http://www.goldonomic.com/credit_default_swaps.htm
With innovation we can create a new array of talent, of people who can handle the next coming financial instruments with more care. We seek change by innovation, for the better. Innovation does make tasks simpler but it does not ensure they are more safe, or to say, less risky. We have to be more careful what sort of innovation we seek for but if we follow the Nordic model we might find out that it can work. Separation of powers, a more transparent government that seeks opinions from citizens more often than usual and a solid welfare system will ensure the greater common good for us all.
Source: http://bit.ly/IJn0bT
“Capital isn’t so impor…
“Capital isn’t so important in business. Experience isn’t so important. You can get both these things. What is important is ideas. If you have ideas, you have the main asset you need, and there isn’t any limit to what you can do with your business and your life.”
~ Harvey Firestone
Innovation 2012
Seeking change by innovation
What is Lancaster University Innovation Society?
Lancaster University Innovation Society will consist of various elements that will make it different to any other society on offer. It will directly involve students, involving them in discussions about how innovation can bring change. The Innovation Society will focus on key areas of innovation, not just one area.
The chosen areas of focus are:
- Political innovation
- Management innovation
- Technology innovation
From these areas we will have discussions and presentations on what effective measures can be made in order to combat the problems of the 21st century. Innovation is key to life and without it we would never be able to transform or develop society. If one or more of these areas interest you and you want to learn more about it, either from other student discussions or you just want to meet open-minded people then please let me know.
The Innovation Society will also try to organize social events and ensure sponsors and hosts can give talks to members of the society.
