Commodity Trading on the International Market-World body forecasts millions of “bio-fuel” jobs |26 September 2008

More than a million people already work in bio-fuels, but a UN report says that could rise by 12 million by 2030.

It says "green jobs" depend on a shift of subsidies from oil and natural gas to wind, solar, and geothermal power.

New jobs could also include the expansion of recycling and making environmentally friendly vehicles.

The report, 'Green Jobs: Towards Decent Work in a Sustainable, Low-Carbon World', was commissioned and funded by the UN's Environment Programme (Unep).

It says the manufacture, installation and maintenance of solar panels should add 6.3 million jobs by 2030, while wind power should add more than two million jobs.

Unep director Achim Steiner said that if the world did not transform to a low-carbon economy it would "miss a major opportunity for the fast tracking of millions of new jobs".
 
The report was written before the current global economic crisis.
However, Steiner said that to ditch green energy policies because of the crisis would be a mistake because in the long term the new jobs will make economies stronger and help make goods with less oil and gas.

Late next year, delegates from around the world will try to reach a successor agreement to the Kyoto Protocol to control climate change, in a UN meeting in Copenhagen.

But Mr Steiner said the movement toward green jobs would happen whether there was an agreement or not.

He said that was because the world's population is heading toward eight or nine billion by 2050, and resources like metals, oil and gas are becoming more expensive to find.

If the world waits 10 years to take serious action on greenhouse gases the costs for moving to a green economy will be much higher, he said.

Bill Gates sees slump in “rich-world” generosity from market crisis

Microsoft Corporation founder Bill Gates said the U.S. financial crisis would likely reduce support of Western governments for programs to combat hunger, poverty and disease to which his foundation has contributed $17 billion.

“There are the rich-world economies and the developing world economies and, while the degree to which they are linked is not well understood, when one suffers it can't be good for the other,” Gates said in a Bloomberg News interview on Wednesday after speaking at a United Nations event in New York.

“Rich- world budgets may not have room for increased generosity,” he pointed out.
Gates addressed the financial market meltdown after announcing that the Seattle-based Bill and Melinda Gates Foundation will commit $66 million to a UN initiative to help 350,000 poor farmers in 21 African and Asian nations increase productivity. The program will provide farmers with equipment and irrigation techniques and show them how to improve processing and storage of crops.

The worst financial upheaval since the Great Depression is dominating speeches and meetings of the more than 100 world leaders gathered for the opening of the UN General Assembly. The U.S. has come under attack from friends and foes alike for creating an economic crisis that threatens UN goals for reducing poverty, hunger and disease.

Generosity is one aspect of the so-called Millennium Development Goals, “along with scientific advances and good governance,” Gates said.

UN Secretary-General Ban Ki-moon said this week that no country is on course to achieve all of the goals, which include halving chronic hunger by 2015.

Rising food prices in the past year have added 75 million hungry people in the world, bringing the total to 923 million, according to Josette Sheeran, executive director of the UN's World Food Program. Another 100 million may have to be added next year, she said.

Commodity briefs from around the world

• India eyes end of export ban on back of bumper rice crop

• United States rice prices climb following damage from Gustav and Ike storms

• Experts are predicting high oil and cereals prices

• Dubai carving itself a position as commodities trading hub

• Korea to double feed wheat imports on back of falling prices

• European Union to use 10% of its arable land for bio-fuels by 2020

• Jamaica bio-fuel project will halve sugar/molasses output

• Zimbabwe to boost maize production by 500,000 hectares

 
Crude Oil prices

As at 25/09/08

Nymex Crude Future 106.38 US dollars per barrel
Dated Brent Spot 100.32 US dollars per barrel