FXSTD – Alternative Energy Center

By: Patrick Omari
British Prime Minister Gordon Brown has stated that the average household in the UK is wasting around 8 pound sterling per week on unnecessary food bills. Brown's suggestion that the British public should think more carefully about their food shopping in an attempt to reduce the horrifying effect of the credit crunch seems laughable. With the cost of oil soaring and the cost of living up by a reported 9.5 per cent, it seems like a drop in the ocean to have two sausages for dinner instead of three.

As Brown and the rest of the G8 gather in Japan to discuss the world's dilemmas, we must reuse our leftovers and make a list before we go shopping. Don't forget to ignore the 'special offers' at the supermarket too, these usually get thrown away in the end as you simply have too much food. So, Gordon Brown heads to the G8 summit with the nation's hopes in his hands and the end of the credit crunch a long way off in the future.

Rising fuel costs, food prices and a global credit crunch have severely damaged many of the world's economies including in Britain where house prices are plummeting amid fears of a recession. The Labour government in the UK have also suffered a massive dip in popularity with public fears that a recession will affect millions of families across the country. Labour maintains that the financial difficulties have occurred due to uncontrollable external factors, so the UK continues to look for answers from a government that seemingly has none.

Brown is reported to be optimistic that a deal will be put in place to secure more liberal global markets. The summit is gaining importance with every day that passes as prices continue to rise and the countries' economies are stretched further and further. Fuel price rises and food shortages are the main problems for the western world while promises of aid to Africa remain undelivered thirteen years later. So, where will the G8 take us and will they prevent the seemingly inevitable global recession?

The key issues that are increasing the risk of a global recession have been the agricultural price rises of 40 per cent as well as the oil prices doubling to almost 150 dollars a barrel. As the world struggles to come to terms with economic uncertainty, it becomes clearer that even with the new supplies of oil reported in Iraq we must continue to search for and develop alternative fuels.

U.S. energy secretary, Samuel Bodman, stated the country's intention when he admitted that industrialised nations will have to aggressively promote 'investment in renewable energy and other alternative energies technologies.' The nations that are represented at the G8 - USA, Russia, UK, Japan, Italy, France, Germany and Canada are responsible for more than half of the world's energy consumption.

So the world will look on as the 'Big 8' meet at the Hokkaido Toyako Summit to discuss global issues including environment and climate change, African development and peacebuilding. With so many major problems to tackle and overcome, it makes it even more difficult to listen to Gordon Brown and count out your chicken nuggets when you're preparing your dinner.