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Despite Slowing Oil Demand, IEA Sees Continued Market Tightness Over the Medium Term
Madrid, Spain 01 July 2008  “Record prices in the oil market in recent months have become a threat to the global economy and social welfare of millions of people - some are calling it the third oil shock. While we have seen some weakening in demand in the OECD, supply constraints, refinery limitations and continued demand growth in key emerging markets will maintain pressure in the market over the medium term”, Nobuo Tanaka, Executive Director of the International Energy Agency (IEA) said today in Madrid at the launch of the IEA Medium-Term Oil Market Report (MTOMR). Speaking at a press conference at the World Petroleum Congress, Mr. Tanaka emphasized that market fundamentals were the main underlying factor behind high oil prices. “OPEC production is at record highs and non-OPEC producers are working at full throttle, but stocks show no unusual build. These factors demonstrate that it is mainly fundamentals pushing up the price,” he added. 
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Above Average Growth In Middle East Oil Consumption
Dubai, U.A.E. 01 July 2008  Middle East oil consumption showed above average growth of 4.4% during 2007 as regional and global production fell for the first time since 2002, according to the recently released 2008 BP Statistical Review of World Energy.
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The 2nd Dubai Green Conference Introduces The Novel Concept Of C02 Neutral Events To U.A.E.
Dubai, UAE 25 June 2008  The American University in Dubai and Sesam Business Consultants are organizing a two-day conference on the major sectors of the Leadership in Energy and Environmental Design (LEED) requirements, solutions and rating system, along with an in-depth analysis of the latest “Green Buildings” trends. The conference is a sequel to the “Dubai Green” seminar of February 2008 that was held following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Prime Minister and Vice-President, and Ruler of Dubai, to adopt the 'Green Building' model in Dubai. The conference kicked off today and was officially opened by His Excellency Mr. Johann-Adolf Cohausz, German Consul General in Dubai and the Northern Emirates.
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Production Begins for the New Honda FCX Clarity Fuel Cell Vehicle
London, United Kingdom 16 June 2008  Honda's advanced hydrogen fuel cell powered vehicle, the FCX Clarity, came off the line at the world's first dedicated fuel cell vehicle manufacturing facility in Japan. After 19 years of development, the arrival of this 'real world' fuel cell car marks the beginning of a new era of cleaner motoring.
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NASA's Shuttle Discovery Glides Home After Successful Mission
Cape Canaveral, Florida 16 June 2008  Space shuttle Discovery and its crew landed at 11:15 a.m. EDT Saturday June 14, 2008, at NASA's Kennedy Space Center, Fla., completing a 14-day journey of more than 5.7 million miles in space. Seven astronauts flew space shuttle Discovery back to NASA's Kennedy Space Center on Saturday to end the latest construction mission to the International Space Station.
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