Gas heads back toward $2 per gallon; Mideast crisis blamed
Birmingham News – Jan. 7
…The strife in the Middle East is to blame for the sudden rise, said Peter Clark, a University of Alabama chemical engineering professor who follows the energy markets. “Historically whenever there has been a crisis in the Middle East, the price of oil goes up,” Clark said. “Everybody’s watching to see how OPEC will react.” The Organization of Petroleum Exporting Countries already has announced production cutbacks in an attempt to drive up crude prices from the December lows. Clark, however, doesn’t think OPEC can take extreme steps to protest Israel’s actions. “I doubt they would go as far as to threaten oil production because it would hurt them economically,” Clark said. “OPEC countries like Iran are already being hurt because of the cutback in oil consumption.”…Clark, the UA professor, thinks crude could return to $80 a barrel over the next month or so if fighting in the Middle East escalates or lasts much longer. But he doesn’t expect a return to $3 or $4 gasoline like last summer, given the gravity of the nation’s economic crisis, which has sapped demand.”Things could get worse if OPEC sticks to its oil production cutbacks, but I doubt they will,” Clark said. “I think oil prices will stay high as long as the Israeli conflict lasts but as soon as it is resolved oil will drop again because there isn’t enough demand to warrant high prices.”
WVUA-TV (Tuscaloosa) – Jan. 6
Wiregrass area sees jump in bankruptcies in 2008
Dothan Eagle – Jan. 7
…Ahmad Ijaz, an economic analyst with the University of Alabama Center for Business and Economic Research, said the increase in bankruptcies, combined with a jump in foreclosures, are “lagging” indicators of a weakening economy. “With a recession being predicted for 2009, we will definitely see an increase in both foreclosures and bankruptcies,” Ijaz said. Ijaz also said other indicators of a weakening economy could include slow retail sales, declining consumer confidence, increase in the unemployment rate…
The four-year plan
Education Week – Jan. 7
…Business and university officials have urged on those state efforts. For too long, Alabama only produced students with top-notch math and science skills “in various pockets around the state,” said Charles R. Nash, who chairs the Alabama Mathematics, Science, Technology, and Education Coalition, an advocacy group of education and business officials. Alabama’s economy has shifted from an agricultural and textile base to one served by automobile, space and technology, maritime, and new manufacturing interests, said Mr. Nash, who is also vice chancellor for academic affairs for the University of Alabama System. To prepare students for the new jobs, “we couldn’t wait until [students] got to middle or high school,” Mr. Nash said. “We had to start earlier.”…
Alabama lends math, science resources
Education Week – Jan. 7
…Alabama math and science educators told the committee that the professional development they received on entering the field “didn’t sustain them beyond a few years” of teaching, and that they craved ongoing help, a point that resonated among industry and university officials, recalled Charles R. Nash, who served on that blue-ribbon panel…“They said,” If we don’t have the materials, we’re not going to be able to teach except the way we’ve been teaching,” said Mr. Nash, the vice chancellor for academic affairs for the University of Alabama System, which represents three public research universities in the state, including the flagship campus in Tuscaloosa. That process yielded a series of recommendations for a statewide math and science program, which were melded together in AMSTI. The first AMSTI site was launched at the University of Alabama in Huntsville, with the help of a $3 million grant from NASA. Other locations followed…
UA professors offer economic insight
Crimson White – Jan. 7
Despite the world’s economic woes, some UA professors are predicting improvement to be ushered in with the new year. Billy Helms, professor of finance and head of the Department of Economics, Finance and Legal Studies, said there is still hope for a more prosperous new year amidst the financial crisis. “If recent historical patterns are an accurate predictor, then conditions will improve in 2009,” Helms said…An improvement in the market will come when all markets begin to function normally, Helms said…Low gas prices are a direct result of the economic crisis, and Peter Clark, an associate professor of chemical and biological engineering, predicts the price of oil will remain under 60 dollars a barrel in 2009, though the price hinges on a variety of factors. “The price of oil will depend upon the speed of the economic recovery and events like the Israeli move into Gaza….
University administrators give advice on starting semester positively
Crimson White – Jan. 7
How can you keep your stress levels in check while balancing new classes, a new roommate and being away from home after winter break? Four University administrators offered their advice on how to start the spring semester off right mentally and academically….
UA starts new green campaign
Crimson White – Jan. 7
…The Energy Conservation Campaign is intended to promote awareness to students in the residence halls about energy consumption and further encourage students to reduce their energy consumption, said Justinn Trott, a junior and the director of environmental concerns at the SGA. The campaign will start Jan. 7 and end April 17, Trott said. Within that time period, residence halls around campus will be in a competition to try to reduce their energy consumption by at least 10 percent. Whichever dorm reduces its energy consumption by the highest amount will receive its choice of a Wii or an Xbox 360 that will be available for community usage, Trott said. Andy Beville, an associate director of the housing and residential communities, said, “Reaching 10 percent is easily done. Hopefully the winner will reach 12 to 13 percent.”
More baby boomers return to classroom
NBC6 (Miami) – Jan. 6
…Note that if special services and counseling are not enough, some colleges truly are going to extremes. They are planning housing complexes just for baby boomers…Already the Web site universitybusiness.com reports that 22 of these communities are thriving on or near campuses, ranging from the huge University of Alabama to the tiny Lasell College in Massachusetts…