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<channel>
	<title>Investing In the Future of Energy &#187; Water</title>
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	<link>http://globalfundexchange.com/press</link>
	<description>Investing In the Future of Energy - Alternative Energy Investing, Carbon, Water, Scarce Natural Resources, Energy</description>
	<lastBuildDate>Wed, 01 Sep 2010 19:26:31 +0000</lastBuildDate>
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		<title>Water vs. Energy &#8211; The Supply Conundrum</title>
		<link>http://globalfundexchange.com/press/?p=1559</link>
		<comments>http://globalfundexchange.com/press/?p=1559#comments</comments>
		<pubDate>Fri, 30 Jul 2010 15:16:36 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Water]]></category>
		<category><![CDATA[Population Growth]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1559</guid>
		<description><![CDATA[The future of global energy supplies must be judged in terms of water.  Water is arguably the world&#8217;s most essential resource, and is intrinsically linked to increasing global energy demand, especially as population grows. Key Facts from the IEEE Spectrum Special Report on Water vs. Energy: By the year 2030, the 8 billion people living [...]]]></description>
			<content:encoded><![CDATA[<p>The future of global energy supplies must be judged in terms of water.  Water is arguably the world&#8217;s most essential resource, and is intrinsically linked to increasing global energy demand, especially as population grows.</p>
<p>Key Facts from the IEEE Spectrum Special Report on Water vs. Energy:</p>
<ul>
<li>By the year 2030, the 8 billion people living on Earth will demand  45% more water than today.  Annual water shortfall may be as high as  2,700 billion cubic meters</li>
<li>Vast quantities of water are need for electricity generation.  Over 500 billion liters of freshwater travel through  power plants in the U.S. everyday &#8211; twice what flows in the Nile River.   39% of all withdrawn freshwater in the U.S. goes to cool thermoelectric  power plants</li>
<li>IT activity and data storage are heavy energy users, and therefore  also dependent upon water.  For example, it requires 150,000 liters of  water to run the 300 million daily Google searches worldwide</li>
</ul>
<p style="text-align: center;"><img class="size-full wp-image-1560 aligncenter" title="Source: IEEE Spectrum" src="http://globalfundexchange.com/press/wp-content/uploads/2010/07/population_freshwater.png" alt="" width="445" height="370" /></p>
<p style="text-align: left;"><a title="The coming clash between water and energy" href="http://spectrum.ieee.org/energy/environment/the-coming-clash-between-water-and-energy" target="_blank">Read more here&#8230;</a></p>
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		<title>China Diverts Rivers to Supply Water to Industrial North</title>
		<link>http://globalfundexchange.com/press/?p=1552</link>
		<comments>http://globalfundexchange.com/press/?p=1552#comments</comments>
		<pubDate>Fri, 30 Jul 2010 14:45:22 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[* Global Fund Exchange]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Water]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1552</guid>
		<description><![CDATA[To combat massive water shortages, China has begun construction on a $62 billion project which would essentially re-route the flow of the nation&#8217;s largest rivers from southern river deltas to parched northern regions. The drought in China&#8217;s industrial north is reaching dangerous levels &#8211; the area is home to 44% of the population, but only [...]]]></description>
			<content:encoded><![CDATA[<p>To combat massive water shortages, China has begun construction on a $62 billion project which would essentially re-route the flow of the nation&#8217;s largest rivers from southern river deltas to parched northern regions.</p>
<p>The drought in China&#8217;s industrial north is reaching dangerous levels &#8211; the area is home to 44% of the population, but only 14% of the water.  As industrial production increases, Chinese power plants in the north will need 82 million ML of water each year by 2030.</p>
<p><a href="http://globalfundexchange.com/press/wp-content/uploads/2010/07/china_rewires_rivers.png"><img class="alignleft size-full wp-image-1555" title="Source: Indiana University Press" src="http://globalfundexchange.com/press/wp-content/uploads/2010/07/china_rewires_rivers.png" alt="" width="627" height="675" /></a></p>
<p>This project will transport 44.8 million megaliters of water every year through a complex, three-pronged plan which consists of an eastern, western and a central route.  Encompassing nearly 1800 km of pipelines, 23 pumping stations, up to 7 dams and 2 giant tunnels beneath the Yellow River, the project will drain one river to fill another and pump water flow against gravity.</p>
<p>Although officials say this project may &#8220;ease the water shortage in the north&#8221; in the short term, conservation and new efficiency measures are the true long-term measures to solve China&#8217;s water woes.</p>
<p><a title="China rewires its rivers" href="http://spectrum.ieee.org/energy/environment/map-china-rewires-its-rivers" target="_blank">Read the full article here&#8230;</a></p>
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		<title>&#8220;Where Water Meets Watts&#8221; &#8211; Special IEEE Spectrum Report on Water</title>
		<link>http://globalfundexchange.com/press/?p=1546</link>
		<comments>http://globalfundexchange.com/press/?p=1546#comments</comments>
		<pubDate>Thu, 29 Jul 2010 20:58:23 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[* Global Fund Exchange]]></category>
		<category><![CDATA[Water]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1546</guid>
		<description><![CDATA[As the world&#8217;s population and energy demand increase, water and energy are increasingly coming into conflict as resources become strained. Click on the image below to visit the interactive &#8220;Where Water Meets Watts&#8221; graph by IEEE Spectrum magazine:]]></description>
			<content:encoded><![CDATA[<p>As the world&#8217;s population and energy demand increase, water and energy are increasingly coming into conflict as resources become strained.  Click on the image below to visit the interactive &#8220;Where Water Meets Watts&#8221; graph by IEEE Spectrum magazine:<br />
<a href="http://spectrum.ieee.org/static/watermap" target="_blank"><img class="alignleft size-full wp-image-1589" title="water_meets_watts" src="http://globalfundexchange.com/press/wp-content/uploads/2010/07/water_meets_watts1.png" alt="" width="788" height="622" /></a></p>
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		<title>BP Containment Test Successful &#8211; Gulf Spill Sealed after 85 days</title>
		<link>http://globalfundexchange.com/press/?p=1505</link>
		<comments>http://globalfundexchange.com/press/?p=1505#comments</comments>
		<pubDate>Fri, 16 Jul 2010 21:10:21 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Oil]]></category>
		<category><![CDATA[Traditional Energy]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Water]]></category>
		<category><![CDATA[environmental consequences]]></category>
		<category><![CDATA[Gulf Oil Spill]]></category>

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		<description><![CDATA[After 85 days, BP has finally succeeded in containing the gushing oil spill in the Gulf of Mexico waters.  After closing valves and vents on the containment cap during a test on Thursday, the well has stayed in place for two full days. Although this is a very positive sign, both BP and the White [...]]]></description>
			<content:encoded><![CDATA[<p>After 85 days, BP has finally succeeded in containing the gushing oil spill in the Gulf of Mexico waters.  After closing valves and vents on the containment cap during a test on Thursday, the well has stayed in place for two full days.</p>
<p>Although this is a very positive sign, both BP and the White House have warned that the containment cap does not represent a permanent fix &#8211; there is still much more work to do to seal the well shut for good, and to clean up the hundreds of millions of spilled oil.  &#8220;We&#8217;re encouraged by this development, but this isn&#8217;t over,&#8221; said the U.S. government&#8217;s lead contact in the region, retired Coast Guard Admiral Thad Allen.</p>
<p>BP will likely release the flow of oil again, siphoning it up to ships on the surface as it continues to drill a relief well to permanently shut the well with mud and cement.  The well is expected to be ready in early August.</p>
<p>Investors welcomed news of the containment caps success, sending BP shares higher in trading today.  However, since the rig explosion in April nearly $65 billion has been knocked off BP&#8217;s market value.</p>
<p><a title="BP containment cap seals Gulf oil spill" href="http://www.reuters.com/article/idUSTRE65O5TA20100716?feedType=RSS&amp;feedName=environmentNews&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+reuters%2Fenvironment+%28News+%2F+US+%2F+Environment%29" target="_blank">Read the full article&#8230;</a></p>
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		<title>African Water Supplies are World&#8217;s Most Vulnerable: New Study</title>
		<link>http://globalfundexchange.com/press/?p=1439</link>
		<comments>http://globalfundexchange.com/press/?p=1439#comments</comments>
		<pubDate>Mon, 28 Jun 2010 13:53:41 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Africa]]></category>
		<category><![CDATA[Asia]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Water]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1439</guid>
		<description><![CDATA[A recent survey confirms that African nations are home to the world&#8217;s most vulnerable water supplies, and face substantial risks from climate change and population growth. British consultancy group Maplecroft crafted a &#8220;water security risk index&#8221; of 165 nations around the world based on criteria such as access to drinking water, per capita demand and [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft size-thumbnail wp-image-1440" src="http://globalfundexchange.com/press/wp-content/uploads/2010/06/neyyar-india-150x150.jpg" alt="" width="150" height="150" />A recent survey confirms that African nations are home to the world&#8217;s most vulnerable water supplies, and face substantial risks from climate change and population growth.</p>
<p>British consultancy group Maplecroft crafted a &#8220;water security risk index&#8221; of 165 nations around the world based on criteria such as access to drinking water, per capita demand and dependence on water from rivers which first travel through other neighboring nations.</p>
<p>The survey showed primarily African and Asian nations had the most vulnerable supplies, with Somalia, Mauritania, Sudan, Niger and Iraq leading the list of &#8220;riskiest nations.&#8221;</p>
<p>However, poor countries are not the only ones facing increased water risk, noted Anna Moss, an author of the study.  Regions of the United States and Australia are also at high risk levels., as are European countries like Bulgaria, Belgium and Spain.</p>
<p>On the other end of the spectrum, the most secure water supplies can be found in Iceland, Norway and New Zealand.</p>
<p>Read the full article <a title="African nations face increased water risk" href="http://www.reuters.com/article/idUSTRE65M6GU20100623?feedType=RSS&amp;feedName=environmentNews&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+reuters%2Fenvironment+%28News+%2F+US+%2F+Environment%29" target="_blank">here</a>&#8230;</p>
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		<title>Explosion Increases Anxiety over Natural Gas &#8220;Fracking&#8221; Technique</title>
		<link>http://globalfundexchange.com/press/?p=1406</link>
		<comments>http://globalfundexchange.com/press/?p=1406#comments</comments>
		<pubDate>Fri, 11 Jun 2010 18:59:06 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Natural Gas]]></category>
		<category><![CDATA[Natural Resources]]></category>
		<category><![CDATA[Traditional Energy]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Water]]></category>
		<category><![CDATA[environmental consequences]]></category>
		<category><![CDATA[natural gas]]></category>
		<category><![CDATA[water. pollution]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1406</guid>
		<description><![CDATA[A recent well explosion in Pennsylvania which blew contaminated gas and water 75 ft in the air has renewed awareness, and in some cases anxiety, over the highly productive yet controversial natural gas drilling technique known as hydraulic fracturing, or &#8220;fracking.&#8221; Conventional gas drilling processes use approximately 80,000 gallons of water per well.  However,  the [...]]]></description>
			<content:encoded><![CDATA[<p>A recent well explosion in Pennsylvania which blew contaminated gas and water 75 ft in the air has renewed awareness, and in some cases anxiety, over the highly productive yet controversial natural gas drilling technique known as hydraulic fracturing, or &#8220;fracking.&#8221;</p>
<p>Conventional gas drilling processes use approximately 80,000 gallons of water per well.  However,  the new method of horizontal drilling combined with &#8220;fracking&#8221; uses millions of gallons of water that has been laced with a cocktail of sometimes toxic chemicals.  These new techniques have opened up gas resources in many previously inaccessible areas, and dramatically increased U.S. natural gas production.</p>
<p>However, environmental pollution concerns have steadily increased in New York, Pennsylvania, Ohio, and West Virginia, across which spans the giant Marcellus Shale formation.  New York has already limited drilling in certain areas because of fears of possible groundwater contamination in watershed regions.   It is likely that similar regulations will soon be put in place to ensure protection of the environment as fracking drilling expands.</p>
<p><a title="Anxiety increases over Natural Gas Fracking Techniques" href="http://green.blogs.nytimes.com/2010/06/10/will-new-york-rebel-against-fracking/" target="_blank">Read the full article here&#8230;</a></p>
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		<title>UK&#8217;s Offshore Renewables Equivalent to One Billion Barrels of Oil</title>
		<link>http://globalfundexchange.com/press/?p=1349</link>
		<comments>http://globalfundexchange.com/press/?p=1349#comments</comments>
		<pubDate>Fri, 21 May 2010 20:45:42 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Alternative Energy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Green Building]]></category>
		<category><![CDATA[Investments]]></category>
		<category><![CDATA[Water]]></category>
		<category><![CDATA[Wind]]></category>
		<category><![CDATA[Alternative Energy Investing]]></category>
		<category><![CDATA[Cleantech Investments]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1349</guid>
		<description><![CDATA[The United Kingdom&#8217;s offshore renewable energy capacity could one day generate as much electricity every year as would one billion barrels of oil, according to a recent report from the Offshore Valuation Group. The Group projects that utilizing just one third of the available wind and tidal resources off the UK coast could eventually transform the [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft size-thumbnail wp-image-1350" src="http://globalfundexchange.com/press/wp-content/uploads/2010/05/submitplan-150x150.gif" alt="" width="150" height="150" />The United Kingdom&#8217;s offshore renewable energy capacity could one day generate as much electricity every year as would one billion barrels of oil, according to a recent report from the Offshore Valuation Group.</p>
<p>The Group projects that utilizing just one third of the available wind and tidal resources off the UK coast could eventually transform the nation from a net importer to a net exporter of electricity by 2050.  At the same time, deploying these resources would result in a savings of 1.1 billion tons of carbon dioxide emissions and create infrastructure with a positive net present value of £35 billion.</p>
<p>&#8220;We have long been saying that the North Sea will become the Saudi Arabia of wind energy,&#8221; says Peter Madigan, head of offshore renewables at industry advocacy body RenewableUK.</p>
<p><a title="UK renewables could equal one billion barrels of oil" href="http://www.newenergyworldnetwork.com/alternative-energy-knowledge-bank/uk%E2%80%99s-offshore-renewable-energy-could-match-one-billion-barrels-of-oil-report-shows.html" target="_blank">Read the full article here&#8230;</a></p>
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		<title>Saudi Aramco Sets Sights on Solar</title>
		<link>http://globalfundexchange.com/press/?p=1307</link>
		<comments>http://globalfundexchange.com/press/?p=1307#comments</comments>
		<pubDate>Mon, 10 May 2010 20:59:20 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Alternative Energy]]></category>
		<category><![CDATA[Desalination]]></category>
		<category><![CDATA[Investments]]></category>
		<category><![CDATA[Middle East]]></category>
		<category><![CDATA[Solar]]></category>
		<category><![CDATA[Alternative Energy Investing]]></category>
		<category><![CDATA[Cleantech Investments]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1307</guid>
		<description><![CDATA[At first glance, Saudi Arabia may seem an unlikely supporter of renewable energy, considering the vast oil resources under its control.  On the contrary, Saudi Arabia is looking to take advantage of its other prolific resource &#8211; sunlight &#8211; with new solar power projects designed to keep the country competitive as renewables increasingly play a role [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright" src="http://www.lestout.com/modules/article/images/lestout/article-saudi-arabia-looks-to-solar-energy-to-provide-clean-water.jpg" alt="" width="252" height="158" />At first glance, Saudi Arabia may seem an unlikely supporter of renewable energy, considering the vast oil resources under its control.  On the contrary, Saudi Arabia is looking to take advantage of its other prolific resource &#8211; sunlight &#8211; with new solar power projects designed to keep the country competitive as renewables increasingly play a role in the overall energy mix.</p>
<p>Mohammed Y. Al-Qahtani, executive director of petroleum engineering and development at Aramco believes &#8220;renewables will have an important place in the total energy equation.&#8221;   Saudi Arabia is looking to use its substantial solar resources as a substitute for oil to generate power domestically as well as to power desalination plants.  Although solar is currently more a more expensive means of power generation than oil or gas, Al-Qahtani expects this will shift over time.</p>
<p>The Kingdom recently invested in one of the world&#8217;s largest solar-heated complexes at a school in the northwestern part of the country, and is considering participating in the Desertec Initiative which would transmit electricity from North Africa and Middle Eastern solar power plants to Europe.</p>
<p><a title="Saudi Arabia sets sights on Solar" href="http://www.rechargenews.com/energy/solar/article214265.ece" target="_blank">Read more here&#8230;</a></p>
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		<title>UK water use &#8216;worsening global crisis&#8217;</title>
		<link>http://globalfundexchange.com/press/?p=1281</link>
		<comments>http://globalfundexchange.com/press/?p=1281#comments</comments>
		<pubDate>Wed, 05 May 2010 18:50:45 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Europe]]></category>
		<category><![CDATA[Water]]></category>
		<category><![CDATA[Embedded Water]]></category>
		<category><![CDATA[environmental consequences]]></category>
		<category><![CDATA[Sustainability]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1281</guid>
		<description><![CDATA[Climatic change will increase water stress in many places, the report says The amount of water used to produce food and goods imported by developed countries is worsening water shortages in the developing world, a report says. The report, focusing on the UK, says two-thirds of the water used to make UK imports is used [...]]]></description>
			<content:encoded><![CDATA[<div></div>
<div>Climatic change will increase water stress in many places, the  report says</div>
<p><!-- E IIMA --><!-- S SF --><strong>The amount of water used to produce food and goods imported by  developed countries is worsening water shortages in the developing world, a  report says.</strong></p>
<p>The report, focusing on the UK, says two-thirds of the water used to make UK  imports is used outside its borders.</p>
<p>The Engineering the Future alliance of professional engineering bodies says  this is unsustainable, given population growth and climate change.</p>
<p>It says countries such as the UK must help poorer nations curb water use.</p>
<p><!-- E SF -->&#8220;We must take account of how our water footprint is impacting on the rest of  the world,&#8221; said Professor Roger Falconer, director of the Hydro-Environmental  Research Centre at Cardiff University and a member of the report&#8217;s steering  committee.</p>
<p><!-- S IBOX --></p>
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<p>&#8220;If we are to prevent the &#8216;perfect storm&#8217;, urgent action is necessary.&#8221;</p>
<p>The term perfect storm was used last year by the UK government&#8217;s chief  scientist, Professor John Beddington, to describe future shortages of energy,  food and water.</p>
<p>Forecasts suggest that when the world&#8217;s population soars beyond 8bn in 20  years time, the global demand for food and energy will jump by 50%, with the  need for fresh water rising by 30%.</p>
<p>But developing countries are already using significant proportions of their  water to grow food and produce goods for consumption in the West, the report  says.</p>
<p>&#8220;The burgeoning demand from developed countries is putting severe pressure on  areas that are already short of water,&#8221; said Professor Peter Guthrie, head of  the Centre for Sustainable Development at Cambridge University, who chaired the  steering group.</p>
<p><!-- S IINC --></p>
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<p>&#8220;If the water crisis becomes critical, it will pose a serious threat to the  UK&#8217;s future development because of the impact it would have on our access to  vital resources.&#8221;</p>
<p>Key to the report is the concept of &#8220;embedded water&#8221; &#8211; the water used to grow  food and make things.</p>
<p>Embedded in a pint of beer, for example, is about 130 pints (74 litres) of  water &#8211; the total amount needed to grow the ingredients and run all the  processes that make the pint of beer.</p>
<p>A cup of coffee embeds about 140 litres (246 pints) of water, a cotton  T-shirt about 2,000 litres, and a kilogram of steak 15,000 litres.</p>
<p><!-- S IINC --> <!-- 	div#embedded_water { 		margin-bottom: 10px; 	} 	div#embedded_water .tdata1 th { 		text-align: left; 		background: #EDF2F6; 		padding: 3px; 	} --></p>
<div id="embedded_water">Using this methodology, UK consumers see only about 3% of the water usage  they are responsible for.</div>
<p>The average UK consumer uses about 150 litres per day, the size of a large  bath.</p>
<p>Ten times as much is embedded in the British-made goods bought by the average  UK consumer; but that represents only about one-third of the total water  embedded in all the average consumer&#8217;s food and goods, with the remainder coming  from imports.</p>
<p>The UK is not unique in this &#8211; the same pattern is seen in most developed  countries.</p>
<p><!-- S IBOX --></p>
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<p>The engineering institutions say it means nations such as the UK have a duty  to help curb water use in the developing world, where about one billion people  already do not have sufficient access to clean drinking water.</p>
<p>UK-funded aid projects should have water conservation as a central tenet, the  report recommends, while companies should examine their supply chains and reduce  the water used in them.</p>
<p>This could lead to difficult questions being asked, such as whether it is  right for the UK to import beans and flowers from water-stressed countries such  as Kenya.</p>
<p>While growing crops such as these uses water, selling them brings foreign  exchange into poor nations.</p>
<p>In the West, the report suggests, concerns over water could eventually lead  to goods carrying a label denoting their embedded water content, in the same way  as electrical goods now sport information about their energy consumption.</p>
<p>The Engineering the Future alliance includes the Institution of Civil  Engineers (ICE), the Royal Academy of Engineering (RAE) and the Chartered  Institute of Water and Environmental Management (CIWEM).</p>
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<div>By Richard Black<br />
Environment correspondent, BBC News &#8211; <a title="UK water use 'worsening global crisis'" href="http://news.bbc.co.uk/2/hi/science/nature/8628832.stm" target="_blank">Click here for full article</a></div>
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		<title>Major Oil Leak Threatens Louisiana Gulf Coast; May Derail Plans to Expand U.S. Offshore Drilling</title>
		<link>http://globalfundexchange.com/press/?p=1267</link>
		<comments>http://globalfundexchange.com/press/?p=1267#comments</comments>
		<pubDate>Fri, 30 Apr 2010 18:47:49 +0000</pubDate>
		<dc:creator>globalfundexchange</dc:creator>
				<category><![CDATA[Natural Resources]]></category>
		<category><![CDATA[Oil]]></category>
		<category><![CDATA[Traditional Energy]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[Water]]></category>
		<category><![CDATA[BP]]></category>
		<category><![CDATA[environmental consequences]]></category>
		<category><![CDATA[Offshore Drilling]]></category>
		<category><![CDATA[water. pollution]]></category>

		<guid isPermaLink="false">http://globalfundexchange.com/press/?p=1267</guid>
		<description><![CDATA[A veritable environmental catastrophe is developing in the Gulf waters around the Louisiana coastline following a fatal explosion on an offshore BP oil rig. Last week&#8217;s incident left eleven workers missing and presumed dead,  and broke open a deep-sea pipe, which is currently leaking an estimated 5,000 barrels a day into the ocean.  Coordinated efforts [...]]]></description>
			<content:encoded><![CDATA[<p>A veritable environmental catastrophe is developing in the Gulf waters around the Louisiana coastline following a fatal explosion on an offshore BP oil rig.</p>
<p>Last week&#8217;s incident left eleven workers missing and presumed dead,  and broke open a deep-sea pipe, which is currently leaking an estimated 5,000 barrels a day into the ocean.  Coordinated efforts from the U.S. Coast Guard and BP &#8211; which as leaser of the rig is responsible for all clean-up costs &#8211; have not succeeded in containing the oil slick.  Today&#8217;s reports indicate that strong winds are pushing the oil towards the shoreline, which is home to a variety of sensitive ecosystems and species that would all be in danger if the oil were to reach land.</p>
<p>The consequences of this major spill could spell disaster for President Obama&#8217;s proposal to expand offshore drilling in the United States, which he was offering as a way to encourage bipartisan support for a more far-reaching climate bill.  The President has ceased issuing new offshore drilling leases until a deeper investigation into this explosion is conducted.</p>
<p><img class="alignleft size-full wp-image-1270" title="rig_disaster1" src="http://globalfundexchange.com/press/wp-content/uploads/2010/04/rig_disaster11.png" alt="" width="604" height="278" /></p>
<p><img class="alignleft size-full wp-image-1271" title="rig_disaster2" src="http://globalfundexchange.com/press/wp-content/uploads/2010/04/rig_disaster2.png" alt="" width="606" height="275" /></p>
<p><a title="Oil spill threatens Louisiana Coast" href="http://www.nytimes.com/2010/05/01/us/01gulf.html?hp" target="_blank">Read the full article here&#8230;</a></p>
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