Oil and Gas Production - An Introduction

US leads world in oil and gas production, IEA says. (2017, November 14). BBC News . Retrieved from https://www.bbc.com/news/business-41988095

This article discusses the International Energy Agency’s (IEA) annual energy report forecast which indicates that the US leads the world in oil and gas production while China overtakes it as the biggest consumer. The report further claims that the global energy demand will continue to rise to hit 30 percent in 2040 due to high energy consumption in India. Consequently, the sources of renewable energy will become increasingly important. By 2025, the U.S. will account for over 80 percent increase in the total global oil supply making the U.S. the undisputed global gas and oil producer. This is mainly attributed to the United States’s ability to unlock new resources such as shale cost effectively. However, the renewable energy source will meet only 40 percent of the new demand . Besides, the article further claims that in the European Union (EU), renewable energy will account for 80 percent of new capacity.

Plumer, B. (2011, December 5). OECD: “The benefits of economic growth do not trickle down.” Washington Post . Retrieved from https://www.washingtonpost.com/blogs/ezra- klein/post/oecd-inequality-is-growing-almost- everywhere/2011/12/05/gIQAqSbqWO_blog.html?noredirect=on&utm_term=.f0281a41a 613

This Article discusses the report by the Organization for Economic Cooperation and Development (OECD) which highlights the rising inequality among wealthy countries. The articles state that the level of income inequality is currently at its peak in 30 years. The OECD ranks the U.S. the fourth most unequal country in OECD while Turkey, Mexico, and Chile take the first three positions. As such, the article claims that inequality has been rising rapidly in the U.S. as the wage disparity between the richest and the poorest increases by more than 10 percent with egalitarian hotspots such as Denmark and Sweden being worst affected. The OECD report attempts to pinpoint the reasons for the unbalanced increase in inequality globally. As such, OECD claims rise of trade and globalization as the main contributing factor. Besides, the report claims marriage as another factor that reinforces inequality since high-income earners marry each other. However, the OECD reports that advancement in technology has benefited the educated and highly skilled workers but public policies have done little to mitigate the inequality.

Hicks, C. (2016, November 18). Africa is tired of being in the dark’: bank chief on plans to boost energy. The Guardian . Retrieved from https://www.theguardian.com/global- development/2016/nov/18/africa-tired-being-in-dark-bank-chief-plans-boost-energy- akinwumi - Adesina -cop22 

This article discusses the highlights of the African Development Bank (AfDB) on its new initiative on energy including a fresh deal on energy which pumps $12 billion in the energy sector over the next five years. According to the article, the organization’s officials claim that electricity is one of the major problems in Africa, and without power, African industries cannot be competitive. The organization’s renewable power initiative will be generating 10GW of power by 2020 which will rise to 300GW by 2030. Therefore, as a result of how the project will impact African countries, the G7 countries contributed $10 billion to fund the initiative during the Paris COP21 meeting. The AfDB has invested in various projects in Africa related to the energy sector such as the 160MW Noor solar energy project at Ouarzazate, Morocco, which is currently being expanded to reach a generation capacity of 500MW. Besides, Morocco has signed another deal to build a wind farm projected to generate 1720MW.

McVeigh, K. (2018, November 15). World Bank pulls $300m Tanzania loan over pregnant schoolgirl ban. The Guardian . Retrieved from https://www.theguardian.com/global- development/2018/nov/15/world-bank-pulls-300m- Tanzania -loan-over-pregnant- schoolgirl-ban 

This article discusses the move by the World Bank after it withdrew its $300 million in loans to Tanzania after concerns regarding the country’s policy of expelling pregnant girls from schools. The funds were intended to be used in helping Tanzania’s ministry of education to promote the accessibility of secondary education. The blow on Tanzania came right after Denmark withheld another $10 of aid funding owing to the unacceptable homophobic remarks by a Tanzanian government official. The government of Tanzania has routinely enforced expulsion of pregnant girls from schools approximately 8,000 a year , a discriminatory move that intensified after President John Magufuli took over the office in 2015. The article claims that President Magufuli further announced that expelled students would not be allowed back to schools after giving birth, a move that has been condemned by many campaigners. Besides, this discriminatory policy, statistics law which imposes fines or jail time for anyone who questions the accuracy of government figures, and discriminations against the LGBT community were some of the cited reasons for the World Bank to withdraw its funding initiative. As such, the article claims that the World Bank officials commented on the issue and stated that the intergovernmental organization supports policies that improve that girl’s literacy until they reach full potential considering they have high social and economic returns after finishing their education.