Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, March 04, 2008

The Non-Oil News ...

There is stuff happening today that does not involve oil ...

Australia Forecasts Record Commodity Sales In Fiscal 2009 on China Demand Australia, the world's largest shipper of coal, iron ore and wool, forecast the biggest gain in commodity exports in 29 years, driven by demand in China.

Australia Raises Benchmark Rate to 12-Year High of 7.25% to Cool Inflation Australia's central bank increased its benchmark interest rate for the second time in four weeks and said there are signs the highest borrowing costs in 12 years are prompting consumers and companies to temper spending.

China May Triple Production of Natural Gas in 10 Years, PetroChina Says China's natural gas production may triple to between 150 billion and 200 billion cubic meters in the next 10 years, PetroChina Co. said.

China Minmetals Invests in First Steel Mill in India to Tap Rising Demand China Minmetals Corp., the nation's biggest steel-trading company, invested in its first steelmaking joint venture in India to tap rising demand for the alloy in the world's second-fastest growing major economy.

Carney May Cut Rate in Bank of Canada Debut as U.S. Slowdown Spreads North Bank of Canada Governor Mark Carney will probably cut interest rates at his first decision as central bank chief today to help offset a slump in exports to the U.S., Canada's biggest market.

Check out my new gold and energy blog at