ENERGY

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china and the United States have agreed to work together on research into 
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The oilindustry needs“massive investment”to ward 
off a possible energy crisis in the next 20 years,the Inter- 
advanced solar energy technologies. 
The Institute of Electrical Engi— 
naonal Energy Agency(EA)said November 6. 
“The immediate risk to supply is not one of a lack of global resources,bu rather a lack of investment where 
neerng(IEE)under he Chinese Acad— 
emy of Sciences fCAS and the U.S. 
National Renewable Energy Laboratory 
fNREL1,which is affiliated with the 
Department of Energy,signed a memo— 
randum of understanding in November 2008.Under the pact,they’ll share re- 
 is needed,’the agency said in a summary of ts annual 
W0rld Energy Outlook report to be published in fu11 next week.“Massive investment in energy infrastructure will be needed'’to raise production capacity to meet lncreas- ng demands,the report said. 
Statistics showed tha lack ofinvestment would cause 
earch on photovolaic(PV)power generaton echnologies 
One facet of colaboration,IEE director Xiao Liye said,will be a sophis— 
heoutputofsome 800oi1feldstofal1byupt0 0.5%ayear 
on average from 2008 to 2030.Meanwhie.the IEA said 
cated PV cel and modul es center,probably n Being.The program also 
ncludes research data sharing,personnel exchanges and battery—related el- 
orts,Xiao said. 
Dan Arvizu,head of he NREL,said he hoped to extend cooperation in ine with the common nterests ofboth countries. 
IEE is a national faciliy that carries out high—technology research and 
global daiy oi1 consumption would rise to 106 milion bar- 
rels by 2030.or an overall increase of45%. 
The world needs to invest 26 trillion U.S.dollars during that period,over 4 trillon dollars more than last years’forecast,the report said.The global fnancial crisis 
would not“affect long-term investment”in the oil indus— 
development.NREL focuses on solar,wind,biomass,geothermal,hydrogen 
energy and uel cel esearch.(Xinhua) 
y,but could delay he completon of urrent projects. www.chinaview.cn 
ran proposed anothe Organizaon ofthe Petoleum Exporng Countes(0PEc)oi cut of 1.5 mion barel per day(bpd)on No— 
vember 15,reported state elevision IRIB’s website. 
“It s better for a decision o be made r another cu ofone million to 1.5 million barrels per day,'’Iran’ OPEC representative Moham— 
mad Ali Khatibi was quoted as saying.“SO that a balance between supply and demand s reached,”he added. Khatibi made the proposal fr a forthcoming OPEC meeting in Cairo 1ater,which is seen as a preparation for a special oPEC ministe- rial meeting in the western Algerian town ofOran on December 17 on prospects ofinternational oi markets in he rst halfof2009. 
At the emergency meeting in Vienna on October 24,OPEC ministers agreed to reduce output by 1.5 million bpd to 27.3 million bpd from November 1 in an attempt to prevent prices fom falling further.The organization also said on November 14 it will announce further cutS in oil output at the end ofthis month ifglobal oi prices continued falling. 
0il prices feU to below US¥65 a barrelin New York from November 3 to 9 as the prospect ofa shrinking global economic growth and 
weakening energy demand weighed on the market. 
The OPEC weekly prce。whih has contnued o drop afer eaching ecord highs n uly hi year,alo d o 56.83 dolars per barel 
as week.Ian.which holds estmated ecoverable oi eserves of 38 bion barrels,produces oi ofsome 4.2 mion bpd.(Xinhu 
The European Union(EU)has caled on countries to sep up 
coordination in scientic research in the Arctic in efforts to con— ont global warming. 
At a meeting hosted in Monaco by the EU’s presidency France, 
Scientists believe the Arctic provides an early indicator of climate change,signaled by the decline of sea ice and melting of 
French Ecology Minister Jean—Louis Borloo said countries should strengthen coordination to work fr a‘‘unifed’’research system on the Arctic.“Research is not being coordinated,’Borloo said. He also called on countries to make necessary efforts to establish a woddwide information network and shae relevant scienc data. 
The two—day event,focusing on the Acrtic’s role in climate change,brought together representatives and climatologists fom countries ofthe 27一nation EU,as wel as Norway,Iceland and inter national organizations. 
glaciers.Jean Jouzel,French glaciologist and climatologist,said the 
Arctic can serve as a 1aboratory,from where scientists can observe he effects of climate change.However,human beings have been unable to utilize this properly. 
The Arctic region consists of a vast ice.covered ocean SUF- rounded by treeless permafost.In recent years,the extent of the sea ice in the region has declined.A photo released by the Euro— 
pean Space Agency(ESA)which was aken n September by a ra— 
dar aboard its Envisat satellite.showed hat ce retreat in the Arctic had reached record levels since satellite monitoring began in 1978. 
www.chinaview.cn) 
he company will not offer any sort of discount or re— Brazian mining giant Valewi adiust iron ore supply o However,t
some of ts clients due to the ongoing globa1 fnancial crisis.the negotate the prces spulated in he long—erm contmct wih i 
company announced onNovember 11. 
Vale.or Companhia Va1e do Ri0 Doce.understands the dif- 
culties frms around the world are facing due to the fnancial meldown,said CEO Roger Agnelli.The crisis has led to weaker demand fr iron ore fom many 0f Vale’s clients.he explained. 
c“ems. 
Vale has also decided tO reduce aluminum operatiOns due 
to the丘nancialturmoil as weU as h h ene唱y c0sts,and wil1 there— 
0re suspend a pre—easbiy sudy for a bauxie and aluminum p 0ect n Ghana. 硷 “ 
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