HOUSTON — The European Union’s embargo on most Russian oil imports could deliver a fresh jolt to the world economy, propelling a realignment of global energy trading that leaves Russia economically weaker, gives China and India bargaining power and enriches producers like Saudi Arabia.
Europe's Russian Oil Ban Could Mean a New World Order for Energy - The New York Times - 0 views
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Europe’s hunt for new oil supplies — and Russia’s quest to find new buyers of its oil — will leave no part of the world untouched, energy experts said. But figuring out the impact on each country or business is difficult because leaders, energy executives and traders will respond in varying ways.
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China and India could be protected from some of the burden of higher oil prices because Russia is offering them discounted oil. In the last couple of months, Russia has become the second-biggest oil supplier to India, leapfrogging other big producers like Saudi Arabia and the United Arab Emirates. India has several large refineries that could earn rich profits by refining Russian oil into diesel and other fuels in high demand around the world.
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Amazon Rainforest May Be Approaching a Critical Tipping Point, Study Finds - The New Yo... - 0 views
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The Amazon is losing its ability to recover from disturbances like droughts and land-use changes, scientists reported Monday, adding to concern that the rainforest is approaching a critical threshold beyond which much of it will be replaced by grassland, with vast consequences for biodiversity and climate change.
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The scientists said their research did not pinpoint when this threshold, which they described as a tipping point, might be reached.
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Losing the rainforest could result in up to 90 billion tons of heat-trapping carbon dioxide getting put back into the atmosphere, he said, equivalent to several years of global emissions. That would make limiting global warming more difficult.
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