Mozilla Firefox 1.5.0.1 released

Firefox 1.5.0.1 is a stability and security update that is part of our ongoing program to provide a safe Internet experience for our customers. We recommend that all users upgrade to this latest version.

Here's what's new in Firefox 1.5.0.1:

* Improved stability.
* Improved support for Mac OS X.
* International Domain Name support for Iceland (.is) is now enabled.
* Fixes for several memory leaks.
* Several security enhancements.

The Burning Edge has more detailed lists of notable bug fixes.

(2006-02-02 16:27:30 SGT) [Tech] Permalink

Bush : 'America Addicted to Oil'

peakoil.com (thread1, thread2) -> news.yahoo.com :

President Bush said "America is addicted to oil" from the Middle East and must break its dependence, in a State of the Union speech that promised aggressive U.S. engagement around the world in defiance of critics. With three years left in office, Bush is hoping to lift his political fortunes and those of his Republican allies in an election year with control of Congress up for grabs. He is coming off one of the toughest stretches of his presidency, and his job approval ratings hover in the high 30s to low 40s in most polls. Soaring gasoline prices are a central factor in Bush's fall from grace with Americans. Oil prices are close to record levels and Exxon just reported record profits of $10.7 billion in the fourth quarter of 2005.

"America is addicted to oil, which is often imported from unstable parts of the world," Bush said. He set a six-year goal for making the alternative fuel ethanol practical and competitive, and vowed to fund additional research into ways to make ethanol not just from the commonly used corn but also from wood-chips or grasses. The goal, he said, is to "move beyond a petroleum-based economy, and make our dependence on Middle Eastern oil a thing of the past."

Critics doubted Bush ever really severed his ties from the oil industry and were skeptical he would put the kind of effort into conservation and alternative-fuel research they say is needed. His previous energy initiatives have had little impact on prices or supplies.

US savings rate dips below zero, lowest since Depression

business-times.asia1.com.sg :

The personal savings rate in the US dropped below zero last year for the first time since the Great Depression as Americans spent more than they earned. The national savings rate as a percentage of disposable income fell to -0.5% last year, according to Commerce Department data. That's the first negative savings rate since 1933, when the rate was -1.5% and the country was in the longest and most severe economic decline of its history.

'The negative savings rate gives you an indication of how much people are living beyond their means,' said Robert Brusca, president of Fact & Opinion Economics in New York. 'It's like the US, as a whole, is living off a credit card. We don't know when or where we're going to hit the limit of that card.' The negative savings rate implies 'the economy is more fragile than the spending suggests', and will pose a problem for the Federal Reserve, Mr Brusca said.

Americans spent US$41.6 billion more than they earned last year - the biggest dip into savings since record keeping started in 1929, the Commerce Department said. Rising home values and low interest rates contributed to the spending spree, allowing Americans to borrow against home equity to finance purchases.

(2006-02-02 00:23:38 SGT) [Biz] Permalink

Sanyo, VW to co-develop hybrid batteries

greencarcongress.com -> sanyo.co.jp :

Sanyo Electric and Volkswagen will jointly develop next-generation Nickel Metal Hydride (NiMH) batteries for hybrid electric vehicles (HEV). Sanyo has already provided HEV batteries for Ford's Escape Hybrid and Honda's Accord Hybrid on the North American market.

Sanyo is working to reduce the size and weight of its HEV NiMH systems, while increasing output. The company also is working with lithium-ion technology.

Sanyo is focusing on batteries as one of the major drivers of a financial rebound, and has set an ambitious goal of obtaining 50% of the hybrid vehicle battery market by the end of 2010.

A double gain if Singapore imports oil sands

business-times.asia1.com.sg :

Energy-hungry Singapore could potentially source cheaper oil to generate electricity and also increase the supply of sand in the island republic by exploring Canada's oil sands resources. Oil sands, located mostly in North Alberta, Canada, have an estimated reserve of 1.7 trillion to 2.5 trillion barrels. The Athabasca Oil Sands deposit, Alberta's largest and most accessible source of bitumen, contains more than one trillion barrels of bitumen over an area encompassing more than 30,000 square kilometres.

Oil sands are sand grains surrounded by bitumen, a heavy thick form of crude oil with a molasses-like consistency. Shallow oil sands deposits can be mined from the surface. It requires upgrading to make it transportable by pipeline and usable by oil refineries and utility companies but can be transported as dry cargo by railcar.

What have oil sands got to do with Singapore power companies and supply of sand to Singapore? If Singapore utility companies can import Orimulsion - 80 per cent bitumen and 20 per cent water - from Venezuela to be burnt in power plants to generate electricity, then with some investment, Singapore power companies can import raw oil sands, separate the oil and use the bitumen for burning while selling the sand to the domestic construction industry. At current crude oil (WTI) prices, raw oil sands cost about than US$10 per barrel or less.