Posts tagged “developing countries”
I hate the phrase “Innocent until proven guilty.” When serial killer Ted Bundy killed his first victim, he wasn’t innocent just because a court had yet to convict him. The correct phrasing — which practically nobody uses — is “Presumed innocent until proven guilty.” Yet nearly everyone says that a person is innocent until proven guilty. Most people know what is meant when someone says this, but there is the potential for confusion.
Language is important. The way we write and say things is important. I can’t count the number of times I have seen a news headline that would lead most people to conclude something entirely different than what the data actually suggested.
Note: I am still traveling, and my posting schedule won’t return to normal until after August 11th. This article was originally written for World Business Magazine in Singapore, and explores one of the themes I covered in my book Power Plays. I am breaking it up into two parts. The first deals with petroleum demand in developing countries, and the second explores the climate change implications.
Oil Prices Rise, But Demand Growth Remains Strong
Access to affordable, stable energy supplies is critical for economies throughout the world. For developing countries, affordable energy can offer a pathway to a better quality of life. But between 2000 and 2010, world oil prices became much less affordable. The average global oil price advanced from approximately $25 per barrel to more than $100 per barrel – far outpacing rates of inflation in most countries.
Many books and articles have been published that argued that the increase in prices has been due to oil speculation, the restriction of supplies by OPEC, growth in developing countries, peak oil, or various geopolitical factors. Regardless of the cause, the response to higher prices in developed and developing countries may be surprising. CONTINUE»