...Our Outperform expectation is even more compelling in 2016 given the spread widening that the sector experienced in the last six months, as the sector fundamentals remain strong. Another record year of auto sales is predicted and even if we do see declines from cyclical production peaks, breakeven profitability levels have been materially lowered, allowing both OEMs and suppliers to be highly profitable at cycle volumes well below what is forecast. The sector has engaged in prudent balance sheet management since the peak of the crisis; likely issuance (which will be biased to refinancing) should find more-than-adequate demand. M&A could inject some headline risk, and VW is still a wildcard that could cause a bout of spread weakness. We would see such volatility as presenting an opportunity, however, given the solid underpinnings of the Auto Sector storage. The positive side of the sector's story is its still strong credit quality even if the group did see some modest deterioration on that from increased M&A and pockets of end-market weakness. They're not bulletproof, however, and there are still a number of sources of potentially negative headline risk that we expect to be at play out in the coming year. Additionally, even if the economy does perform to consensus. we expect the expansion will be reliant upon the US domestic consumption story and it will be heavier going in the global arena in which the manufacturing conglomerates compete, particularly as regards to economic...
Words: 279 - Pages: 2
...Success is not an eventual pinnacle. It is an odyssey that has multiple peaks, and at each peak one must strive to attain his goal and culminate his efforts into something fruitful. Different people have myriad opinions about success. Some relate it with money, some with power. However, for me “success is peace of mind, which is a direct result of self-satisfaction in knowing you made the effort to do your best, to become the best of that you are capable of becoming.” It consists in being content with what you do!! Success is something one assembles from components he discovers in his soul and his imagination. It can be achieved by knowing, understanding, believing in oneself, and executing the apposite actions required to achieve it. “The truth is that all of us attain the greatest success and blithe possible in this life whenever we use our native capacities to their greatest extent.” “Do not aim for success if you want it! Just do what you love and believe in, and…it will come naturally.” Sorrowfully, success has been commercialized with fame and popularity. “The common idea that success spoils people by making them vain, egotistic, and self-complacent is erroneous; on the contrary it makes them-for the most part- humble, tolerant, and kind.” Setbacks also help in achieving success. It is very aptly said that discouragement and failure are two of the surest stepping stones to success. Multi-faceted success doesn’t lie in not...
Words: 299 - Pages: 2
...across the world. It is the most common form of energy used in societies. It accounts for 33 percent of worldwide energy usage. Oil is the preferable form of energy because it is readily refined and contains high-energy content. It is not easily substitutable with other forms of energy. Oil is not a renewable source of energy. Peak oil is approaching. The available oil will not be enough to meet the market demand. Constant oil supply is important to run most aspects of the society. The end of oil will have negative impacts on society. Inflation is the greatest impact of peak oil in anticipation. Price levels will increase rapidly. The demand of oil will surpass the supply. This will trigger an increase in oil prices subject to the law of demand. Most aspects of humanity depend on oil. A reflection of the increasing effect will be notable in most of the commodities that require oil in the production process. Food prices will increase. This is because of an increase in transportation and production costs. This will have a negative impact on the standards of living across many societies. Commodities will be too expensive to purchase. Peak oil will cause a reduction in economic activities across many societies. Effective running of most economic activities depends on oil. Inaccessibility of adequate oil supply will alter the process of carrying out economic activities. The world will experience an economic recession. This is because of the difference in demand and...
Words: 551 - Pages: 3
...reportR.LAKSHMI ANVITHA (1226213102) OIL TRADING - SUPPLY AND DEMAND ANALYSIS SUMMARY: Oil, also known as petroleum, is the most actively traded commodity in the world. The price is usually quoted per barrel. Oil trading is transacted on changes in the price of crude oil and does not involve a physical purchase of the commodity. The direction of the price movement determines whether a trader will profit or not. The two kinds of contracts that are traded are oil futures and options. The price of oil can be significantly affected by political factors, as well as environmental factors such as natural disasters. Other influencing factors include demand such as that driven by modernizing populations in India and China, as well as supply - that is, production rates in oil producing countries. In addition, technological advances in alternative energies may also affect the price of oil. In short, oil trading can involve significant price fluctuations making it an exciting and potentially profitable market. Oil prices also affect currency trading. Sometimes, a weakened US dollar may cause a rise in the price of oil. Other currencies that rely on commodity prices, such as CAD can also be affected by changes in oil prices. In this report we are analyzing the demand and supply , price factors of crude oil. INTRODUCTION: Until as recently as the early 1970s, the main channel for oil supply was the integrated system of the major oil companies. Each company had its own source of crude...
Words: 1844 - Pages: 8
...Motivation Letter Stars have always fascinated me. So it was when I was a child. On a dark summer night they appear a lot brighter and closer overhead and I asked my father, “What are those things”? The answer could have been anything but the truth. Instead he told me everything about the stars, their composition, the fusion reaction, the life cycle of the stars and about the black hole. To tell you the truth I was not able to understand everything at that time but truth can be more riveting than a fairy tale. But these stuck in mind, I always think and correlate them with the scene, when standing in a balcony of my house in mid night and looking into entire city of “Phnom Penh”. The city looks exactly like brightens star in the night. I think a lot and try find relation between them and the reason behind all these. I came to know that both are lighting with inside energy. Energy related to star may be some natural or else that I didn’t found. But the reason behind lighting city was Electrical Energy. And that’s how I got hooked to Electrical Engineering. From then only I never looked backed, study Electrical Energy their implantation and trying for new and new experiments to have different lighting becomes nature and Destiney of my life. Soon after I finished high school, I sat in the entrance exam for undergraduate course in Institute of Technology of Cambodia. When I was chosen for that in which only 50 students selected out of 2500 candidates and offered a seat in the Electrical...
Words: 673 - Pages: 3
...mail.com Guide to Energy Management Seventh Edition Guide to Energy Management Seventh Edition by Barney L. Capehart, Ph.D., CEM Wayne C. Turner, Ph.D. PE, CEM William J. Kennedy, Ph.D., PE Library of Congress Cataloging-in-Publication Data Capehart, B. L. (Barney L.) Guide to energy management / by Barney L. Capehart, Wayne C. Turner, William J. Kennedy. -- 7th ed. p. cm. Includes bibliographical references and index. ISBN-10: 0-88173-671-6 (alk. paper) ISBN-10: 0-88173-672-4 (electronic) ISBN-13: 978-1-4398-8348-8 (alk. paper) 1. Energy conservation--Handbooks, manuals, etc. 2. Energy consumption--Handbooks, manuals, etc. I. Turner, Wayne C., 1942- II. Kennedy, William J., 1938- III. Title. TJ163.3.C37 2011 621.042--dc23 2011021960 Guide to energy management by Barney L. Capehart, Wayne C. Turner, William J. Kennedy--Seventh Edition ©2012 by The Fairmont Press. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Published by The Fairmont Press, Inc. 700 Indian Trail Lilburn, GA 30047 tel: 770-925-9388; fax: 770-381-9865 http://www.fairmontpress.com Distributed by Taylor & Francis Ltd. 6000 Broken Sound Parkway NW, Suite 300 Boca Raton, FL 33487, USA E-mail: orders@crcpress.com Distributed by Taylor & Francis Ltd. 23-25 Blades Court Deodar Road London...
Words: 73070 - Pages: 293
...Underground living refers simply to living below the ground's surface, whether in naturally occurring caves or in built structures. Underground dwellings are an alternative to traditionally built above-ground dwellings for some home seekers, especially those who are looking to minimize their negative impact on the environment. Some of the advantages of underground houses include resistance to severe weather, quiet living space, an unobtrusive presence in the surrounding landscape, and a nearly constant interior temperature due to the natural insulating properties of the surrounding earth. The greatest draw for most is the energy efficiency and environmental friendliness of underground dwellings. When combined with renewable energy sources, energy cost can be greatly reduced. Initial building costs are often low, as underground building is largely subtractive rather than additive, and because the natural materials displaced by the construction can be recycled as building materials. However, underground living does have certain disadvantages; such as the potential for flooding, which in some cases may require special pumping systems to be installed. Underground living has been a feature of fiction, such as the hobbit holes of the Shire as described in the stories of J. R. R. Tolkien and The Underground City by Jules Verne. It is also the preferred mode of housing to communities in such extreme environments as Australia's Coober Pedy, Berber caves as those in Matmâta, Tunisia,...
Words: 329 - Pages: 2
...Why I want to be an Engineer There have been different reasons at different stages of my life why I developed a passion for the engineering profession. It started from a youthful age watching my father, who was a mechanical engineer and wanting to emulate him when I got to adulthood. I liked the way he talked about his occupation with great excitement. He tended to travel a lot but also had time to spend with his family. I was impressed with his knowledge of Mathematics, Physics and Chemistry. He was always helping my older brother with his calculus assignments even though he had been through school for a long time. The engineering profession afforded my father with the resources to provide for his family and to do some philanthropic work as well. There was always something technological being discussed with his friends. In my early years when I wanted to be an engineer, it was always because I just wanted to be like my father, not until I got into school. When I started school, I realized I was very interested in mathematics and the sciences. The tougher the subject, the greater satisfaction I had at the end of the term when I succeeded. I loved working in the science labs and learning how science works. I always wanted to challenge myself with an occupation that will keep me on my toes, so engineering being my first love was an obvious choice. I liked reading about the great inventors and scientists of our time like Sir Isaac Newton, Thomas Edison, The Wright...
Words: 912 - Pages: 4
...Visit Peak District & Derbyshire Green Questionnaire Sustainable tourism is changing, from being relatively niche and misunderstood into the mainstream of the tourism industry and is increasingly being sought by consumers. We’re interested in learning how green your tourism business is. Complete our Green Survey and return to j.price@visitpeakdistrict.com. |Name | |Address | | | |Email address | |1a |What type of business do you have? (please tick as appropriate) | | |B&B/Guesthouse | | |Hotel/Inn | | ...
Words: 666 - Pages: 3
...Corporate Social Responsibility: Shell Introduction An Overview to Shell Shell is a global company dealing in energy and petrochemical products. The company has its operation spread in more than 80 countries and has employed around 90,000 employees. The organisation helps to satisfy the rising energy demand in socially, environmentally and responsible way. During last few years, corporate social responsibility has been gaining more and more prominence and Shell had been one of the first organisations to weave corporate social responsibility into the firm’s business Philosophy. The group undertook a number of projects which all aimed at the sustainable development of those regions where the company carried out its operational activities. Across the globe, the Shell foundation, which was founded with an initial endowment of USD 250 million from Shell, has been actively involved in a number of sustainable development projects. The group’s initiatives were well appraised by World Environment Council. Corporate Social Responsibility Modern business is oblige to satisfy demanding environmental, ethical, commercial, ethical and public standards as specified by the wider society (Crane et. al., 2007; Burchell, 2008). It is an appraised fact these days that economic value enhances through voluntary cooperation between the companies and its stakeholders (Schwartz, 2011; Bacher, 2007). In Nigeria Delta, Shell has been accused of poor stakeholder management (Idowu...
Words: 2748 - Pages: 11
...To Drill or Not To Drill Hum/111 1/25/13 Angela Funk To Drill or Not To Drill As the population in the United States increases, so is the need to keep up with the energy demand. Developing new energy sources such as solar, wind, clean coal, natural gas and nuclear power the US can become less dependent on foreign countries. Although off shore drilling is a good resource that has been in existence for years, with the recent oil explosion (2010) and 11 lives and a massive spill of oil in the Gulf of Mexico, that had a major affect on the economy and the wildlife caused the US to take a look at alternative resources for energy. The option of alternative resources allows the US to be more self- sufficient and could overall be less cost effective for the US. The perceptual blocks that I am experiencing with these assignments is the various pros and cons that come with both off-shores drilling & using alternative resources. Off –shore drilling already in place and with the drilling moratorium expanding into the Mediterranean and off the coast of East Africa after a hug discovery of natural gas. However “Exploration in deepwater fields remains dangerous because of high temperatures and high pressure when drilling 6,000 feet or more under the sea floor”. (Krauss & Broder, 2012). On the other hand with alternative resources we would no longer have to rely on other countries to supply our energy because it would be created here in the US. Research and testing does take...
Words: 493 - Pages: 2
...Biofuel | Hydro-Power | Solar-Power | Wind-Power | Hybrid Systems | Tradable Renewables | REFIT | | | | overview | The White Paper on Renewable Energy (2003) [PDF, 2.28MB] has set a target of 10 000GWh of energy to be produced from renewable energy sources (mainly from biomass, wind, solar and small-scale hydro) by 2013. Following Cabinet approval of the White Paper, the DoE proceeded with the development of its renewable energy strategy. The implementation plan of the various technologies was identified in a macroeconomic study undertaken in 2003. The White Paper's target of 10 000GWh renewable energy contribution to final energy consumption by 2013 was confirmed to be economically viable with subsidies and carbon financing. Achieving the target will: | Add about 1.667MW new renewable energy capacity, with a net impact on GDP as high as R1.071-billion a year; | | Create additional government revenue of R299-million; | | Stimulate additional income that will flow to low-income households by as much as R128-million, creating just over 20 000 new jobs; and | | Contribute to water savings of 16.5-million kilolitres, which translates into a R26.6-million saving. | Renewable energy sources, other than biomass (the energy from plants and plant-derived materials), have not yet been exploited optimally in South Africa. The DoE has strengthened international relationships in this area via partnerships established during the World Summit...
Words: 637 - Pages: 3
...Project: CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND Economics is the management of scarce resources. Scarcity is a universal phenomenon. It is the scarcity which is basic economic problem not the shortage. Shortage could be overcome by taking different short run and long run measures, but scarcity is a permanent phenomenon. All countries in the world are facing this problem and in less developed countries the situation is specially worsen because of the availability of limited resources. There are so many problem faced by developing countries like poverty and unemployment, which puts negative impact on GDP and on the masses. Why are these problems visible in a country like Kenya? Because so many other problem are putting multiplier times negative impact on GDP and other macro economic variables such as inflation. Oil and other petroleum products are scarce commodities in the world. Like prices of other commodities the price of crude oil experiences wide price swings in times of shortage or oversupply. The crude oil price cycle may extend over several years responding to changes in demand as well as OPEC and non-OPEC supply. Throughout much of the twentieth century, the price of U.S. petroleum was heavily regulated through production or price controls. In the post World War II era, U.S. oil prices at the wellhead averaged $28.52 per barrel adjusted for inflation to 2010 dollars. In the absence of price controls, the U.S. price would have tracked the world price averaging...
Words: 11224 - Pages: 45
...l. First main change: The government needs to stop creating long term programs and start to focus on creating more short term programs that are easy to start up A. “I’m also issuing a new goal for America: Let’s cut in half the energy wasted by our homes and businesses over the next 20 years,” Obama said”-Brad Plumer, Washington Post (Pres. Plan to be more energy efficient) 1. The president is definitely thinking about renewable resources and wants to incorporate them into the average American’s life, but again and again he uses words like “hope to”, “proposals”, words implying that these plans are loosely constructed and not in the forefront of the United State’s government’s mind. Maybe this is because his deadline is 20 years away. Obviously long term programs haven’t worked thus far. Making short term projects will make for stricter deadlines, a more focused and motivated team of officials and more projects getting up and running for the near future. 2. We believe that some of the short term programs that should be enacted first are getting the federal government agencies and the White House itself to start using renewable resources. To start having half of the energy these buildings are using to come from renewable energy resources like solar or wind power. By incorporating these types of renewable energy resources into their everyday lives, they will soon encourage the American peoples to use them to, not to mention benefiting the economy. 3. Advertising...
Words: 759 - Pages: 4
...hearts out in front of the government to provide them with the basic necessity of electricity but the government seems to have no clue about how to solve this problem. Energy shortage is the result of the power demand and supply gap. So what causes this gap to exist is the main question. There are various reasons because of which Pakistan could not create more electricity which include the rising fuel prices, rising burden of circular debts, lack of availability of inexpensive fuel, no new power projects being started, poor electricity production and distribution methods, power theft and nonpayment of electricity bills. The issue of circular debts is not something new when it comes to energy crisis. When the circular debts reach their peak the government intercepts by increasing the subsidy given to the power companies. However this does not provide a permanent solution to the problem because the subsidies given are not sufficient to pull the power supply companies out of difficulty. At present only Rs3/kilowatt subsidy is given where as 20-30% of electricity is being stolen and the electricity bills of government offices remain due for months. This burden is then passed on to the end consumers in terms of higher prices or excessive amounts of load shedding. The problem of energy theft is something which needs to be addressed at the governmental level. It signifies the inefficient law and order situation of the country as the government knowing who the thieves are still...
Words: 518 - Pages: 3
