S Korea to take further steps to tackle oil price surge

xinhuanet.com 09-Jul-2008

SEOUL, July 9 (Xinhua) -- South Korea will enforce extra energy-saving measures earlier than planned if international crude oil prices surpass 150 U.S. dollars per barrel, Yonhap news agency quoted the Ministry of Strategy and Finance as saying. According to the ministry, the second-phase contingency plan could include restriction of private-sector vehicles and outdoor lights usage in addition to possible oil tax cuts. The energy-saving measures were originally planned to take effect when international oil prices exceed 170 U.S. dollars per barrel but the South Korean President Lee Myung-bak ordered his economic team to enforce it earlier during a Cabinet meeting held on Tuesday, the ministry said. The move comes just two days after the South Korean government announced similar measures to reduce energy consumption mostly in... [read full story]

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(anonymous) - 11-Jul-2008 20:52:33

We should leave Iran an honorable path of retreat. Engaging Iran in the global economy is the only approach that has merit. Regardless of Iran's size however, we should be careful what we assume about Iran; it has some ten million men of military age. Puor bien savoir les choses, il en faut savoir le detail, et comme il est presque infini, nos connaissances sont toujours superficielles et imparfaites. Unfortunately, what we do know is that the Bush administration cannot be trusted to do what it says. Iraq taught us that lesson. Many experts have long been predicting that Bush would invade Iran before he leaves office. But of course, the Bush administration would never admit to such a thing. “On ne donne rien si liberalement que ses conseils.” But it is the man who follows his own counsel, he’s the one that should lead.

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