Global Warming. Who is responsible Essay Example | Topics and Well Written Essays - 1250 words

Global Warming. Who is responsible - Essay Example And the major part of the warming that has been reported this century took place from 1900-1940. Ironically, the release of greenhouse gases was less during this period of the century when compared to the second half. In reality, the rise in temperatures over the recent years has been relatively higher when compared with the increase in greenhouse gases.1 Over the last few years, the issue of global warming has gained widespread media coverage. It has been the subject of many TV debates and now has a central role in the ongoing U.S. presidential elections campaigns. Many TV programs depict polar bears stranded as huge chunks of ice continue to melt into the polar waters. This has even been the subject of advertisement for many cruise lines that lure customers by promising them to enroll on a trip to witness the effects of global warming as it melts down polar ice that has been there for more than two million of years.2 According to a document released by the United Nations' International Panel on Climate Change (IPCC), "Global atmospheric concentrations of carbon dioxide [generated by fossil fuel consumption], methane and nitrous oxide [due to agriculture] have increased markedly as a result of human activities since 1750 and now far exceed pre-industrial values determined from ice cores spanning many thousands of years."3 However, the document is also optimistic and states that global warming can be curbed if effective measures are put in place to cut down global carbon emissions. That's because slowing down human activity, which according to the panel is the major cause of climate, can be the first step towards overturning the current situation. Global warming is a genuinely dynamic problem today's world. The current level of excess concentration of carbon dioxide in the atmosphere is as a result pass human activities. In the same light, the fossil fuels we burn today and related activities will affect future generations. That's because carbon gases emitted today will settle in the atmosphere and leave a negative effect on our planet when we are all gone. As a result, we have to take into account the welfare of our grandchildren each time we make a decision that can affect the environment.4 There is need for us to consider alternative sources of energy, and that's because fossil fuels have two major drawbacks. In addition to pollution, fossil fuels have become expensive.5 More recently, the issue of global warming has been gaining grounds even in religious spheres. More and more people of faith are now adopting global warming as one of their religious concerns. "As with concern regarding the nature and reality of the Holy, as with concern about one's relation to divine things, to God, to the sacred, as with concern for what may be one's ultimate purposes in life, global warming puts radically reorienting questions to life. Global warming puts life itself into question--not only our own individual lives, or the lifeline of our species, but all of life and its future possibilities. Global warming evokes the fragility of life and its mysterious contingency and begs caring response on our part."6 Another reason why global warming should attract religious concern is that most religions have some common principles that guide their teaching. These include having concern for the vulnerable as well as appreciation for the majestic works of God. "Global warming, by

Week Five Exercise Assignment Essay Example for Free

Week Five Exercise Assignment Essay Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: Edison Stagg Thornton Cash $6,000 $5,000 $4,000 Short-term investments 3,000 2,500 2,000 Accounts receivable 2,000 2,500 3,000 Inventory 1,000 2,500 4,000 Prepaid expenses 800 800 800 Accounts payable 200 200 200 Notes payable: short-term 3,100 3,100 3,100 Accrued payables 300 300 300 Long-term liabilities 3,800 3,800 3,800 a. Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why? Account Edison Stagg Thornton Cash 6,000.00 5,000.00 4,000.00 Short term investments 3,000.00 2,500.00 2,000.00 Accounts receivable 2,000.00 2,500.00 3,000.00 Inventory 1,000.00 2,500.00 4,000.00 Prepaid Expense 800.00 800.00 800.00 Total Current Assets: 12,800.00 13,300.00 13,800.00 Account Edison Stagg Thornton Accounts payable 200.00 200.00 200.00 Notes payable 3,100.00 3,100.00 3,100.00 Accrued payables 300.00 300.00 300.00 Total Current Liabilities: 3,600.00 3,600.00 3,600.00 Edison: Current ratio 12,800.00 / 3,600.00 = 3.56 Quick ratio (6,000 + 3,000 + 2,000) =3.06 Stagg: Current ratio 13,300.00 / 3,600.00 =3.69 Quick ratio (5,000.00 + 2,500.00 + 2,500.00)/ 3,600.00 = 2.78 Thornton: Current ratio 13,800.00 / 3,600.00 = 3.83 Quick ratio (4,000.00 + 2,000.00 + 3,000.00) / 3,600 =2.5 The most liquid company is Edison because they have the most access if necessary. 2. Computation and evaluation of activity ratios. The following data relate to Alaska Products, Inc: 20X5 20X4 Net credit sales $832,000 $760,000 Cost of goods sold 530,000 400,000 Cash, Dec. 31 125,000 110,000 Average Accounts receivable 205,000 156,000 Average Inventory 70,000 50,000 Accounts payable, Dec. 31 115,000 108,000 Instructions a. Compute the accounts receivable and inventory turnover ratios for 20X5. Alaska rounds all calculations to two decimal places. Accounts Receivable Ratio = Net Credit Sales / Average Accounts Receivable $832,000 / 205,000 = 4.10 Inventory Turnover Ratio = Net Credit Sales / Average Accounts Receivable $530,000 / 70,000 =7.60 (205,000 + 156,000) / 2 = 180,500 (70,000 + 50,000) / 2 =60,000 3. Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The com ­pany reported the following information for 20X7: Net sales $1,750,000 Interest expense 120,000 Income tax expense 80,000 Preferred dividends 25,000 Net income 130,000 Average assets 1,200,000 Average common stockholders equity 500,000 a. Compute the profit margin on sales ratio, the return on equity and the return on assets, rounding calculations to two decimal places. b. Does the firm have positive or negative financial leverage? Briefly ex ­plain. Profit Margin = 130,000/1,7500,00 =7.43% Return on equity = 130,000/5,000=26% Return on assets = 130,000/1,200,000=10.83% (120,000 + 80,000 + 130,000) / (80,000 + 130,000) =1.57 It has a positive financial leverage of around 1.57 times. The net profit ratio states Digital Relay made a 9% profit off its sales. 4. Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow. 20X2 20X1 Current Assets $86,000 $80,000 Property, Plant, and Equipment (net) 99,000 90,000 Intangibles 25,000 50,000 Current Liabilities 40,800 48,000 Long-Term Liabilities 153,000 160,000 Stockholders’ Equity 16,200 12,000 Net Sales 500,000 500,000 Cost of Goods Sold 322,500 350,000 Operating Expenses 93,500 85,000 a. Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work. Horizontal Analysis 202 201 Difference %Change Current Assets 86,000.00 80,000.00 -4,000.00 -5.00% Property, Plant, and Equipment (net) 99,000.00 90,000.00 9,000.00 10.00% Intangiables 25,000.00 50,000.00 -25,000.00 -50.00% Total Assets 200,000.00 220,000.00 20,000.00 -9.09% Current Liabilities 40,800.00 48,000.00 -7,200.00 -15.00% Long Term Liabilities 143,000.00 160,000.00 -17,000.00 -10.63% Total Liabilities 183,800.00 208,000.00 -24,200.00 -11.63% Stockholders Equity 16,200.00 12,000.00 4,200.00 35.00% Total Liabilities and Stockholders Equity 200,000.00 220,000.00 -20,000.00 -9.09% Net Sales 500,000.00 500,000.00 0.00 0.00% Cost of Goods Sold 332,500.00 350,000.00 -17,500.00 -5.00% Gross Profit 167,500.00 150,000.00 17,500.00 11.67% Operating Expense 935,000.00 85,000.00 8,500.00 10.00% Net Income 74,000.00 65,000.00 9,000.00 13.85% (4,000) / 80,000 =-5% The company decreased its liabilities which is good but also decreased its assets and costs of goods sold. The operating expenses increased and kept the same amount of net sales. Their Stockholders’ Equity increased so they were able to purchase additional equipment, property, and plant. 5.Vertical analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow. 20X2 20X1 Current Assets $86,000 $80,000 Property, Plant, and Equipment (net) 99,000 80,000 Intangibles 25,000 50,000 Current Liabilities 40,800 48,000 Long-Term Liabilities 153,000 150,000 Stockholders’ Equity 16,200 12,000 Net Sales 500,000 500,000 Cost of Goods Sold 322,500 350,000 Operating Expenses 93,500 85,000 a. Prepare a vertical analysis for 20X1 and 20X2. Briefly comment on the results of your work. Current Assets 15.20% 16.00% Property, Plant, and Equipment 19.80% 18.00% Intangibles 5.00% 10.00% Current Liabilities 8.16% 9.60% Long term Liabilities 28.60% 32.00% Stockholders Equity 3.24% 2.40% Net Sales 100.00% 100.00% Cost of Goods Sold 66.50% 70.00% Operating Expenses 18.70% 17.00% It seems as if the findings were the same as in the horizontal analysis. There is a difference, which is, seeing the sections changed based upon the previous. There is a 35% increase in the Stockholders’ Equity which is great for the company. 6. Ratio computation. The financial statements of the Lone Pine Company follow. LONE PINE COMPANY Comparative Balance Sheets December 31, 20X2 and 20X1 ($000 Omitted) 20X2 20X1 Assets Current Assets Cash and Short-Term Investments $400 $600 Accounts Receivable (net) 3,000 2,400 Inventories 3,000 2,300 Total Current Assets $6,400 $5,300 Property, Plant, and Equipment Land $1,700 $500 Buildings and Equipment (net) 1,500 1,000 Total Property, Plant, and Equipment $3,200 $1,500 Total Assets $9,600 $6,800 Liabilities and Stockholders’ Equity Current Liabilities Accounts Payable $2,800 $1,700 Notes Payable 1,100 1,900 Total Current Liabilities $3,900 $3,600 Long-Term Liabilities Bonds Payable 4,100 2,100 Total Liabilities $8,000 $5,700 Stockholders’ Equity Common Stock $200 $200 Retained Earnings 1,400 900 Total Stockholders’ Equity $1,600 $1,100 Total Liabilities and Stockholders’ Equity $9,600 $6,800 LONE PINE COMPANY Statement of Income and Retained Earnings For the Year Ending December 31,20X2 ($000 Omitted) Net Sales* $36,000 Less: Cost of Goods Sold $20,000 Selling Expense 6,000 Administrative Expense 4,000 Interest Expense 400 Income Tax Expense 2,000 32,400 Net Income $3,600 Retained Earnings, Jan. 1 900 Ending Retained Earnings $4,500 Cash Dividends Declared and Paid 3,100 Retained Earnings, Dec. 31 $1,400 *All sales are on account. Instructions Compute the following items for Lone Pine Company for 20X2, rounding all calcu ­lations to two decimal places when necessary: a. Quick ratio 1.17 b. Current ratio 1.86 c. Inventory-turnover ratio 10 d. Accounts-receivable-turnover ratio 13.33 e. Return-on-assets ratio 0.51 f. Net-profit-margin ratio 0.1 g. Return-on-common-stockholders’ equity 2.67 h. Debt-to-total assets 0.81 i. Number of times that interest is earned 15

Mental Health Begins in Early Childhood

Mental Health Begins in Early Childhood Children mental development alludes to the changes that happen as a youngster develops and creates in connection to being physically solid, rationally caution, sincerely sound, socially skilful and prepared to learn. The initial five years of a youngsters life are on a very basic level paramount. They are the establishment that shapes children future health, bliss, development and learning accomplishment at school, in the family and group, and in life all in all. The research affirms that the initial five years are especially essential for the development of the children’s mind, and the initial three years are the most discriminating in moulding the youngsters cerebrum structural engineering. Early encounters give the base to the minds hierarchical improvement and working all through life. They have an immediate effect on how youngsters create learning abilities and social and passionate capacities. The objective of this paper is to clarify why a lot of people immoderate issues for society, extending from the disappointment to finish secondary school to imprisonment to homelessness, could be drastically lessened if consideration were paid to enhancing children surroundings and experiences that encounters the problem and their solutions that rises ahead in life. Children take in more rapidly amid their initial years than at whatever other time in life. They need love and supporting to create a feeling of trust and security that transforms into certainty as they develop. Children develop, learn and create quickly when they get affection and love, consideration, support and mental incitement, and in addition nutritious and great human services (honkoff, 2014). Understanding the phases of child mental development and improvement helps folks comprehend whats in store and how to best backing the youngster as she or he develops and creates. In numerous settings, early adolescence projects help folks and their children from the earliest stages through age 8, which incorporates the paramount move from home to class. All youngsters have the right to be brought up in a family and to have entry to quality medical services, great sustenance, instruction, play and insurance from damage, misuse and segregation (honkoff, 2014). Children have the right to experience childhood in an environment in which they are empowered to achieve their maximum capacity in life. It is the obligation of folks, different parental figures and relatives, groups, common society and governments to guarantee that these rights are regarded, secured and satisfied. Sound mental health gives a key establishment of solidness that backings all different parts of human development from the framing of kinships and the capacity to adapt to misfortune to the accomplishment of achievement in school, work, and group life. Like the way an unstable table may not capacity well if the floor is uneven, the legs are not adjusted, or the tabletop is not level, the destabilizing outcomes of issues in mental health could be created by numerous associated components. Pretty much as little wobbles in a table can get to be greater and harder to alter about the weather, the viable administration of mental health concerns in childrens childhood requires early recognizable proof of the reasons and fitting regard for their source, whether they dwell in nature, the tyke, or (most every now and again) in both. This report from the National Scientific Council on the Developing Child outlines in clear dialect why seeing how enthusiastic prosperity might be fortified or ups et in ahead of schedule childhood can help policymakers push the sorts of situations and encounters that forestall issues and immediate early troubles so they dont destabilize the formative methodology. This report reflects a development agreement that the conventional degree and grouping methodology for educational program with its stress on drill and practice of secluded, scholastic aptitudes does not reflect current information of human learning and neglects to deliver understudies who have the sort of higher-request intuition and critical thinking capacities that will be required in the 21st century. Past achievement in enhancing essential aptitudes in the 3 Rs has not been matched by accomplishment in enhancing perusing appreciation, composition familiarity, or math critical thinking capability. Furthermore, it is apparent that our schools are neglecting to deliver future eras with even a working information of the characteristic, physical, and social sciences, a great deal less the sorts of brains that will make new learning in these regions. Particularly, these national associations call for educating to place more prominent accentuation on: active learning conceptual discovering that prompts seeing alongside the procurement of fundamental abilities meaningful, important learning encounters interactive showing and helpful learning a wide scope of important substance, incorporated crosswise over customary topic divisions In the meantime, these national associations collectively scrutinize repetition retention, bore and practice on detached scholarly aptitudes, educator address, and dull seatwork. These national associations likewise have raised worries about the negative impacts of conventional routines for assessment, especially institutionalized paper-and-pencil, various decision accomplishment tests. There is expanding distinguishment that educational program change must be joined by testing change. National associations are currently calling for more execution based appraisals that adjust to current perspectives of educational module and all the more precisely reflect youngsters Early childhood mental health is the same as solid social and passionate development in childhood, including things like figuring out how to express and direct feelings, framing close and secure individual connections, and investigating and researching the earth. So why dont we call it early childhood social and passionate improvement? Other than that being very much a sizable chunk, the dialect of mental health is vital not just for its instructive esteem in fighting shame against mental health issues, additionally for its understood update that in the event that we dont do our occupation with counteractive action with childrens childhood, their issues may require more genuine intercessions sometime down the road. We really do need them to create great mental health in the good feeling of that term. References honkoff, J.P. (2014). A Healthy Start Before and After Birth: Applying the Biology of Adversity to Build the Capabilities of Caregivers. In K. McCartney, H. Yoshikawa, L.B. Forcier (Eds.), Improving the Odds for America’s Children (pp. 28-39).

The Nursing Shortage Essays -- Nurse Medical Medicine Health 2014

Table of Contents The Problem 2 The Causes of the Nursing Shortage 2 The Impact of the Nursing Shortage 5 Current Federal Legislation 6 Alternatives 8 Recommendations 9 Works Cited 11 The Problem Current literature continues to reiterate the indicators of a major shortage of registered nurses (RNs) in the United States. The total RN population has been increasing since 1980, which means that we have more RNs in this country than ever before (Nursing Shortage). Even though the RN population is increasing, it is growing at a much slower rate then when compared to the rate of growth of the U.S. population (Nursing Shortage). We are seeing less skilled nurses â€Å"at a time of an increasingly aging population with complex care needs and an increasingly complex technological care environment† (Mion). According to recent data from the Bureau of Labor Statistics and the Department of Health and Human Services, it is estimated that â€Å"more than a million new and replacement nurses will be needed over the next decade† (Diagnosis: Critical). A chronic nursing shortage has been a reoccurring problem that impacts the future of our health care system and, even more so, the future quality of long-term care in this country. Currently, there are several federal and state initiatives, organizations, and agencies dedicated to solutions of the shortage. However, we continue to lack the necessary number of RNs needed to deliver quality care to a population with growing health care demands. The Causes of the Nursing Shortage There are several factors that are considered the causes of the nursing shortage. Literature suggests that the shortage is linked to factors related to current population trends and the nature of the health care e... ...rvey.htm>. Spetz, Joanne, and Sara Adams. "How Can Employment-Based Benefits Help the Nurse Shortage?" Health Affairs 25 (Jan.-Feb. 2006): 212-218. ProQuest . Ithaca Coll. Lib., Ithaca, NY. 10 Dec. 2012. . "State Legislative Initiatives to Address the Nursing Shortage." American Association of Colleges of Nursing. Oct. 2006. 11 Dec. 2012 . "Toward a Method for Identifying Facilities and Communities with Shortages of Nurses." Health Resourses and Services Administration. 2004. U.S. Department of Health and Human Services. 5 Dec. 2012 . "What Works: Healing the Healthcare Staffing Shortage." Modern Healthcare 37.29 (July 2007). ABI/INFORM. ProQuest. Ithaca Coll. Lib., Ithaca, NY. 2 Dec. 2007   Ã‚  Ã‚  Ã‚  Ã‚  .

A Worldview Definition Essay

A worldview is the way you interpret everything that happens around you and the rest of the world. Everyone has some sort of worldview whether it is conscious or subconscious. People have different worldviews and it can be affected by several different factors around them. A Biblical/Christian worldview is â€Å" It’s any ideology, philosophy, theology, movement or religion that provides an overarching approach to understanding God, the world and man’s relations to God and the world,† quoted by David Noebel, author of Understanding the Times. There are five questions that help justify our beliefs in the Christian/Biblical worldview. The first is the Question of Origin, which is how did life begin? In Genesis 1:1 and Psalms 139:13-16 it tells us about the beginning and the reason for all of creation. The second is the Question of Identity. Identity asks the question, who are we? Genesis 1:27 and Jeremiah 1:5 are scriptures that cover the question of Identity. Both tell us that we were made in Gods image and that before we were created we were appointed a prophet to the nations. The Third question is the Question of Meaning/Purpose. This question is asking why we are here. Everyone is born with a purpose for life. John 17:3 states we were put on earth so that we may come to know God. Another scripture is Galatians 5:13-14 which states we were called unto liberty by love to serve one another. The fourth question is the Question of Morality. The Question of Morality asks what is meant by right and wrong or good and bad? Ephesians 2:9-10 states that following Jesus is the best way to have righteous morals. When you follow Jesus, not men you don’t have to worry about what is right or wrong, you know! Acts 5:29 Peter and the Apostles say â€Å"we must obey God rather than men.† The last question is the Question of Destiny. The Question of Destiny asks is there life after death. A scripture that everyone knows that refers to destiny is John 3:16, it says â€Å"should not perish but have everlasting life.† The book of Revelations talks a lot about Destiny, a scripture that goes along with that is Revelation 21:3-5. In those scriptures it tells about how there will be life after death and no more crying or pain. The biblical worldview influences me to always do what Jesus would do and treat people the way I would want to be treated. I have been raised under those sayings and I raise my kids under them also.

buy custom Future LNG essay

buy custom Future LNG essay The present and future LNG trade is influenced by a number of factors. However, the structure of the global market of LNG impacts significantly on the present and future LNG trade (Yergin and Stoppard, 2003, pp. 103-114). The main issues are variations in the mechanisms of pricing and the history of LNG in the Pacific and the Atlantic basins. Other matters revolving around the nature of LNG market are basically recent changes in the market that have been found to propagate flexibility in LNG trading. The declining trend in the cost of LNG conneced with a value chain and emerging participants in the LNG market also have a hand in the dynamism of the current market (The Global Liquefied Natural Gas Market 2003, par. 1-4). LNG trading started from different perspectives and forms in the Pacific and Atlantic basins. This has affected the volume of LNG import, the systems of pricing and the terms of contracts in the market. Importing nations in the Pacific Basin are nearly absolutely reliant on LNG, whereas nations in the Atlantic Basin utilize pipeline imports and home-based supplies together with LNG to suffice the demand of natural gas. In fact, current changes that have been realized in the LNG market proved to be increasingly flexible. It is no doubt that the terms of contracts in the market have loosened based on both quantity and price. Thus, market negotiations will be shorter, before being signed and executed (Hallouche 2006, pp.15-23). These trends seem good, although there could be some uncertainties in determining the final retail prices of LNG. Liquefaction costs, shipping fees and degasification costs have been reduced greatly with time, hence, cutting down the cost of production. The market for LNG is basically facilitated through lasting contracts concerning mechanisms of pricing fixed for products of petroleum. However, this may not necessarily lead to less retail prices. Cheaper costs of operations may not benefit the final person in the supply chain. Therefore, sellers and buyers take reversed roles in the market. Those involved in purchasing have currently been investing entirely in the upstream. This even includes plants that liquefy gas. Both the Tokyo Electric Power and the Tokyo Gas Company have invested in the Darwin Gas Liquefaction Company located in Australia. On the other hand conventional sellers like Shell and BP have leased out their capacity terminals diversifying their role in trading. Among emerging buyers there are the Dominican Republic and Puerto Rico (Hughes 2011, pp. 11-21). There are notable differences between the Pacific and Atlantic Basins. Original supplies of natural gas towards the end of the 20th century were enormous for many nations in the Atlantic Basin. Pipeline gas was readily available. It was not easy for LNG to contend and, as a result, the import of LNG into the Atlantic Basin experienced a slow growth. LNG forms a small part of the scale of natural gas available in Europe and American markets. LNG competes with both pipeline imports and domestic supplies. However, the Pacific Basin LNG importers like South Korea, Taiwan and Japan have very little production of domestic gas and there are no pipeline import sources for natural gas. Current LNG importers around the Pacific Basin do not access natural gas through pipeline imports. However, LNG imports came into the region mainly in 1980s and up to early 1990s. This took place, because there was a need to supplement oil energy sources. The security of supply was a more significant considerat ion in this region than the price (The Global Liquefied Natural Gas Market 2003, par. 1-4). The above issues, taking place in the second half of the 20th century, are likely to be replicated in current and future trends in LNG market. Pricing around the world in LNG markets revolves around the same factors of availability and supply of supplementary fuels. LNG prices are normally expressed in American dollar per million Btu (MMBtu). Prices can be determined by the free on board (f.o.b.) or even calculated through delivered ex-ship. Most emerging contracts in the LNG market are based on f.o.b. The reason for this is that those making purchases regard this as getting more control over the already determined price and, thus, allowing buyers to trade excess LNG cargos. Gas hubs that involve both pipeline gas and LNG are emerging in the United Kingdom, America and Belgium offering opportunities for the arbitrage pricing and the ultimate convergence pricing (Eberhardt 2002, pp. 21-44). In the past, LNG prices were high in the Pacific basin reaching a maximum of US$4/MMBtu. Pricing is generally less in the Atlantic Basin as compared to the Pacific Basin by US$1/MMBtu for the last decade. The increasing growth of LNG supply in the Middle East could lead to the convergence of the Pacific and Atlantic prices. Currently, the volume of Middle East LNG in the Atlantic Basin is comparatively small. However, a number of Middle East projects take efforts to supply North American and Europeanmarkets. Moreover, when terminals of LNG import are constructed in the West Coast of North America, suppliers from the Pacific Basin may finally get enhanced access to the market in the United States. Therefore, accessibility is a very important aspect in the LNG market. Prices can easily be controlled by means of the accessibility and availability of LNG supplies in various markets of the world (Eberhardt 2002, pp. 21-44). It is very clear that LNG prices are benchmarked to supplementary competing fuels. There are different and autonomous markets of LNG each having its specific pricing structure. The risk of price is inherent in the particular structure of pricing, even though the level of risk varies for different markets. In America, competing fuel in the market is pipelined natural gas and the target price may be either in a particular market in lasting contracts or the Henry Hub value for short-term LNG sales. Exporters and importers, taking part in LNG transactions in the United States, are faced with a very big risk, because of the high price volatility degree. In Europe, LNG prices are connected with competing fuel prices (Hughes 2011, pp. 11-21). Low-sulfur residual oil refers to this competing fuel. At the same time, LNG is currently connected with a natural gas spot and market prices in the future. In Asia, prices are influenced by the import of crude oil. The formula of pricing basically inv olves a basic indicator of prices for crude oil. A constant is also taken into consideration and may be a mechanism of formula review. Prices in Asia are usually higher as compared to other prices in other parts of the world. There have been current changes in the LNG market based on pricing and contracts. Even though, long-term contracts in the LNG market will not disappear, companies taking part in importing must look for increased flexibility and at the same time seek good terms of contract. Contracts, that cover the sale of about thirty million tons annually to people in Asia, are likely to search for adjustment in the future. Conventional contracts of LNG emphasized the supply security of buyers. Contracts in the LNG market could last for a long time and were very rigid. It was not easy to adjust them. Take-or-pay clauses moved the risk of volume to buyers. LNG was normally delivered ex-ship. This means that LNG was transported in the selected tankers. Contracts also included destination clauses that hampered buyers from selling cargos they had bought from the third parties. Changes have been made in the process towards the end of the 20th century. Suppliers of LNG provided more encouraging condition s, like significantly lower prices to emerging importers in China and India (Sen 2002, pp. 1-10). This made conventional LNG buyers look for lower prices when negotiations concerning contracts required an adjustment. As LNG continues being a very important product in the market, more changes are likely to be realized. These include both changes in contracts and pricing procedures. The market is likely to experience some turbulence caused by the changing world economics. For instance, the Northwest Shelf Project of Australia decided to sell out LNG to China for a price that was said to be about $3 per million Btu. At this time, prices for crude oil were $20 per barrel. The actual price for LNG varied from the price realized in crude oil. Existing contracts with buyers from Japan are reportedly higher than contracts in China by about twenty percent (Yergin and Stoppard, 2003, pp. 103-114). Again, when the utilities of Japan entered into a 20-year, 360-Bcf-per-year contract expiring for LNG of Malaysia, reports indicated a 5% reduction in price and a two-tier management of contract, when 1.2 million tons were annually sold out for the period of 4 years and the remaining for the period of 15 years. The other consequence was an agreement that almost a quarter of quantities will be sold out f.o.b. This increased flexibility of shipping and, at the same time, reduced the costs of freight for buyers. The contract also included short-term buying (Sen 2002, pp. 1-10). In the United States market, the prices for LNG are connected with Henry Hub prices. These have been rising steadily in the market. Natural gas prices in America are expected to range from $3 to $4 MMBtu. This will remain so and will cut down the differential that exists between the Atlantic and Pacific markets on LNG prices. At the same time, the European Union holds the position that sellers of LNG must remove clauses of destination from contracts that they have been using. The dynamism of marketing enhances short-term sales of LNG. This accounted for 8% LNG trading in 2002. The short-term market of LNG was practically not there. It was only experienced several years ago, and few facilities of LNG were constructed until contracts of sales were signed for the whole capacity. In the recent past, some projects have gone ahead with unclaimed capacity. More flexible contracts and spare capacity will lead to increased sales within a short period (Drewry Shipping Consultants 2007, pp. 23- 34). One of the vital consequences of changing market environment is materialization of short-term LNG market. All cargos that have not traded in long-term contracts are described as short-term sales. This means any cargos that traded in contracts during less than one year together with individual LNG cargos purchased and sold out (Sen 2002, pp. 1-10). The short-term market will continue to be driven by the long-term market. These include uncommitted capacity of production, since some emerging plants are increased without making commitment to full production quantities. The example of this is Malaysia. Among other factors there is an increasing demand of LNG and more importantly in the United States and Spain, where receiving terminals have surplus capacity, and Korea, which normally requires large quantities during winter. Moreover, the availability of ships, not making commitment to projects, also contributes to these short-term trends in the LNG market. Other contributing factor of the short-term scenario will definitely be realized, if there is a greater flexibility of contracts. Short-term trading is likely to continue growing, particularly in the Atlantic Basin. There could be a notable 15-20% increase in short-term trading in the Atlantic Basin in the near future. The subject of whether LNG will ever be a true product is still debatable (Sen 2002, pp. 1-10). Generally an emerging global energy business of natural gas trading has been gradually developing. It will have a very big impact on the international economy, exposing new risks and opportunities, geopolitical arrangements and interdependencies. Natural gas is internationally traded. This will definitely cause addressing many urgent needs. The United States is to beware a looming shortage in energy, while Europe is to rejuvenate industry. Developing countries need to accelerate growth. To realize this, a clean environment is of paramount importance. The change will be realized both in LNG and pipeline supplies. LNG has been experiencing an increase in application, and the market has been diversifying worldwide (Yergin and Stoppard, 2003, pp. 103-114). There is an emerging international market for this commodity. This is more particular for offering lighting services and its use in factories and in air conditioning in the United States (Drewry Shipping Consultants 2007, pp. 23-34). Well, one of the disturbing aspects of this emerging business of LNG trading is a recall of transformational years towards the end of 1960s that went on to cover during some part of early 1970s. This was a time when the United States integrated itself with the international market of oil. With a very little span of time, the United States became a major importer of petroleum. The surge in the total demand from the international market pulled through the engine of the United States economy. It helped to set the scene for the crises of oil in1970s and created reliance with which countries have wrestled internationally. Within a time exceeding half a century, America was largely self-sufficient in LNG, despite importing from Canada. In the near future, the United States are likely to be a big LNG importer. This could witness the United States overtake Japan and shift the market westward. The question is whether the United States will inadvertently amount new issues of security or whethe r emerging interdependencies will assist in reducing risks in the future (Parfomak 2003, pp. 9-23). As LNG has been experiencing a growing trend in the market, constant attention should be paid to ensure transparent and fair regulation. There is an increasing demand to educate all stakeholders in the industry and the entire public concerning growing importance of LNG as a part of sustainable and viable supply of energy portfolio leading to extenuating volatility and increasing pressure on prices of LNG and electricity (Hallouche 2006, pp.15-23). Moreover, both regulators and industry participants need to gain trust and confidence from local stakeholders on matters of the LNG delivery on the regular basis in large quantities within a lengthy period of time. Matters of environmental and outstanding safety form an important component in the supply and, therefore, are to be taken care of in trading procedures. With the increasing gas import in the United States, quality is also a determining factor. Varying heat content may affect the market in specific regions and, therefore, quality will influence importing in the future. Generally, LNG offers a way of connecting remote gas to markets. Notwithstanding a significant growth in the recent past, LNG has remained a small contributor to the international demand of gas (Parfomak 2003, pp. 9-23). Pipeline gas has dominated in the international market and, therefore, measures are to be taken to promote LNG trading. Unstable pricing and market conditions can be controlled by good foreign and fiscal policies. At the same time, the current LNG development is a growing trend towards the future of the market. The increasing demand has been growing and can ensure a fully developed market for LNG. Buy custom Future LNG essay