China launches second manned space mission

China launched its second manned space mission Wednesday, sending two astronauts into orbit as it opened a new chapter in its ambitious drive to become a global space power. Shenzhou VI, based on Soviet Soyuz technology, lifted off on a Long March 2F carrier rocket from Jiuquan Satellite Launch Center at 9 am (0100 GMT) for a 119-hour, five-day mission carrying air force pilots Fei Junlong and Nie Haisheng.

Having two crew on board is a departure from October 2003, when Yang Liwei spent 21 hours on a solo odyssey - a mission that made China only the third country after the United States and former Soviet Union to achieve the feat. Unlike Yang Liwei, the two astronauts will leave their capsule for lengthy experiments in the orbital module at the nose of the spacecraft.

The flight of Shenzhou VI will also be a comprehensive test of China's tracking network, which includes tracking stations as far away as Namibia and four tracking ships placed around the oceans of the world.

Oil Majors Hitting Peak Production Within 48 Months

peakoil.com -> energypulse.net :

Wall Street firm John S. Herold Inc. of Norwalk, CT has estimated peak production for about two dozen oil companies. Without substantial new investment and additional discoveries, the company believes that French oil company, Total S.A., will reach peak production in 2007. Exxon Mobil, ConocoPhillips, BP, Royal Dutch/Shell Group, and the Italian producer, Eni S.p.A. will hit peak production in 2008. In 2009, Herold expects ChevronTexaco Corp. to peak. In Herold's view, each of the world's seven largest publicly traded oil companies will begin seeing production declines within the next 48 months or so.

- Since forecasting is a tricky business, and we won't know for sure until a few years *after* the fact, we'll have to check back again, say around 2012 or so. A credible-enough range so far for the Peak Oil date seems to be 2010 +/- 5 years.

(2005-10-12 16:41:41 SGT) [Energy] Permalink

Could GM go bankrupt?

news.yahoo.com, reuters.com :

The pressure is mounting on General Motors CEO Wagoner with its main auto parts supplier in bankruptcy, GM's share price near multiyear lows and its once-robust sales of gas-guzzling SUVs stalled. Among other problems, GM's September U.S. vehicle sales fell 24%, as high gasoline prices slammed the sales of giant sport utility vehicles. In more bad news, it said a bankruptcy filing by auto parts supplier Delphi Corp. could put it on the hook for as much as $11 billion in additional health-care, pension and life-insurance liabilities. Delphi's Chief Executive Steve Miller warned that a collapse of Delphi could "fatally wound" its former parent.

e-composites.com :

After Delphi's Chapter 11 filing, GM shares tumble 10% as one analyst sees a 30% chance the auto giant will also seek protection. A big question for the stock market today was whether General Motors would follow its one-time subsidiary Delphi into bankruptcy court. Standard & Poor's Corp. downgraded the company's credit rating to BB- from BB. GM has $284 billion in debt outstanding, S&P said.

(2005-10-12 15:30:55 SGT) [Biz] Permalink

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