Changes – David Bowie (1972)

This past week I was named North American Sales Director in addition to my role as Global Marketing Director here at The Oxford Princeton Programme. I am both honored and humbled by the confidence placed on me to positively affect the business and service our clients in both regards.

I, along with all the teams I am a part of, are committed to you and your employees gaining the acumen and know-how to weather volatility in today's marketplace and maintain a competitive edge in the long-run.

If you have already attended training with us, thank you for your continuing support. If I or any of our account executives can assist in identifying and sorting out your training needs, please do not hesitate to contact us.

We realize that these are not ordinary times. But we are also confident today's circumstances do not dictate tomorrow's progress. We invite you to harness the energy of training with us today and unleash your potential.

Jobert E. Abueva

Tough Times Don’t Last – Bad English (1989)

The title of the article linked below says it all: even during an economic downturn, training is still worth the investment. Many clients already understand this as evidenced in their ongoing commitment to ensure their employees are in tiptop shape, especially in these trying economic times which will eventually turn.

Is your company one of them?

See: Top Firms Still Train... Even in Tough Times
By Jacqueline Durett

What a Price to Pay – Michael Damian (1991)

Last Sunday's edition of 60 Minutes took on the question head on whether the volatility in the price of oil the world markets have faced this past year is caused by an "invasion of speculators" who are holding the paper in order to make money and not the actual industry participants who deal with the supply and demand fundamentals when trading the commodity.

See for yourself and draw your own conclusion.

The Heat Is On – Glen Frey (1984)

Both Russia and Ukraine finally signed a deal yesterday, again, to resume gas supplies into Europe. But is this the end of the dispute (at least until winter is over)?

Read on...

Expecting to Fly – Neil Young (1968)

There has been increased interest and activity surrounding alternative aviation fuels. The most recent to make headlines is Continental Airlines which this week will have tested a fuel made from algae and a tropical shrub known as jatropha, and in a twin-engine jet no less. It's all in an effort to not rely solely on oil should costs cause headaches as they have in recently. There's the environmental PR game to be played as well.

Other airlines are in test mode as well including Air New Zealand which flew a Boeing 747 last week with an engine running on 50% biofuel mix and Japan Airlines which will repeat the test shortly. I remember the fanfare surrounding Virgin Atlantic's flight last year.

Read further as to why this trend is accelerating. It looks like every conceivable biofuel is fair game to get tomorrow's jets off the ground.

Would you fly on a jet that is run purely on biofuels?

Running the Risk – Foreigner (1994)

VaR or Value-at-Risk took center stage in last Sunday's edition of The New York Times Magazine in a cover story entitled "Risk Mismanagement" by Joe Nocera. The subtitle summarizes the debate: What Led to the Financial Meltdown: Mathematical Models Used to Evaluate Wall Street Traders? Or Bankers Who Misread or Ignored them?

If anything, it's a fascinating account of how the concept came about and became a "gold standard" as far as risk-models are concerned. Yes, it has it does have its proponents and detractors.

After reading the article, let me know where you fall on this debate.

Bits and Pieces – Joan Jett and the Blackhearts (1981)

A few weeks away from the office and so much to catch up on from my previous postings:

1. Light sweet crude was on a bit of a rebound closing at $44.50 a barrel on December 31st for February delivery. All in all, oil fell 54% in 2008, the biggest drop since futures trading began over 25 years ago. The winner of The Oxford Princeton Pipeline’s annual challenge is Adrian Wey of Migrol AG who came closest with his guess of $38.50. Others seemed even more pessimistic. Adrian won a free web-based course.
   
   
2. Steven Chu, director of the Lawrence Berkeley National Lab and 1997 Nobel Laureate in Physics for his work in laser cooling of atoms, has been nominated to be the next Secretary of Energy in the Obama administration. Many in the scientific and alternative energy community view this choice as a huge plus in sorting out funding in physics and a lot of other R&D work not to mention the U.S.’s energy policy.
   
   
3. Ghana has a new president. John Atta-Mills, of the National Democratic Congress, beat out his opponent, Nana Akufo-Addo of the New Patriotic Party by a narrow margin of 50.23% to 49.77% or yes, a ridiculously close spread of 0.46%! Mr. Atta-Mills promises an inclusive style of government. How this translates into Ghana’s newly discovered oil fortunes, it is too soon to tell.

And now for the energy news stories early into 2009 that has my attention. Tensions in Gaza aside, what about Moscow’s decision to shut off gas supplies to the Ukraine over a billing dispute while relying on pipelines that cross the country to get to the likes of Poland, Bulgaria, the Czech Republic and Romania?

London's Financial Times reported that Russian gas deliveries to Poland were down 11 percent over the weekend, and others are experiencing the same.

Russia has accused the Ukrainians of stealing gas supplies destined for Europe as the two sides remain far apart on how much Ukraine should pay for Russian gas. The Financial Times noted that Russia's state-owned gas company, Gazprom, now plans to take the matter to the international arbitration court, although this may do little for the situation in the short term.

The pricing dispute is unlikely to ease immediately. The New York Times reported Monday that Russia is now seeking a price of $418 for 1,000 cubic meters, up from a previous offer of $250. The Times also noted that the shortages in Eastern Europe were reaching 30 percent, reminiscent of the previous Russia/Ukraine gas dispute in 2006.

What happens when common folk start to feel the effects of this dispute in the dead of winter?

Jobert E. Abueva
Global Marketing Director