tv Counting the Cost Al Jazeera October 23, 2022 6:30am-7:01am AST
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keep going and get back up again. generation of footballers out to prove that inclusive body is a reality. not a distant target far is small al jazeera, doha. qatar 2022 will break new ground as the 1st man's woke up with female referees taking charge of matches out of $36.00 match. rephrase 3, our women and most experiences. stephanie papa from france who's been fee for listed for 13 years. joining her is wander sally, mom will come sango, who has been refereeing at the top level since 2012. the 3rd is japan's. your she, me, yamashita. who was he for listed in 2015. she has described her selection for this tournament as a dream and says she is ready to handle the big acacia. and they'll put a shell. i'm what it all of course. i think the pressure is huge and i have a lot of responsibility properties. but i'm really happy to take on this duty and pressure, so i'll try to take it positively. one of the big goals as
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a referees to bring out the beauty of soccer. i will do my best and do what i can to make that happen in games. so if i need to communicate with the players, i will do that. if i need to show a card and i would show a card, rather than just control, i'm thinking about the bigger goal of bringing out the appeal of soccer mccardle smith. i would be very happy if my being a female referee helps women play inactive, rolling sports. and especially in soccer in japan, there is still a long way to go for women in the world of soccer. so it would be great if this event could help promote female participation in all sorts of different ways. not only in sports, ah. hello again, i'm fully valuable with the headlines on al jazeera report say that 2 of the likely candidates in the race to be, britons next prime minister of hell talks. but neither boys, johnson noise,
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former ally richie soon. i have said they're definitely running. only penny warden has declared she is standing in ukraine, russian appointed officials in the city of kasan, have told old civilians to leave immediately as ukrainian forces advanced in the region. there warning of an increase danger of shelling, saying thousands have already left. mommy jam june has more from keith. there is effectively been a media blackout in place when it comes to the ukranian counter offensive. and what ukrainian forces are doing to try to recapture their saw. this has been in place for close to a week now. i can tell you that when watching media figures here, when hearing from certain politicians, there is a sense that these folks are indicating that they believe that the ukrainian forces are steadily advancing. that there is a belief here in ukraine. the ukrainian forces will be successful in recapturing at least part of course on an unusual scene played out at the chinese communist,
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40 congress in beijing on saturday during the closing session, former president origin towers escorted out of the hall by 2 men. he was sitting next to present. she jan thing in the front row. chinese state media reported the former president was feeling unwell early a communist party members approved an amendment to its charter that could give more power to president. she jane being late on sunday. she is expected to be confirmed as party leader for an unprecedented 3rd term. and those are the headlines on al jazeera. i'll be back with more news after counting the cost. i will just whatever you
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choose, how long has and seeker, this is counting the cost on just here to your weekly look at the world of business and economics. this week, news trucks is gone, leaving the u. k. in political and economic term, or can a new prime minister steady to ship? also this we turning the taps back on russia office to supply gas to europe. again . european leaders on fighting and historic gas t o between lebanon and israel could supplies in the eastern, mediterranean, east europe. energy crunch the less trust his term was mod, by economic policies, the world financial markets and spark rebellion in her own party. the prime
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minister is now out after her finance minutes. the scrapped pretty much all of her free market agenda. but trust his departure has plunged the u. k. into yet another period of economic uncertainty and money. but his people are asking whether her replacement, the 3rd this year will be able to tame soaring inflation and kickstart economic growth. we delivered on energy bills and on cutting national insurance. and we set out a vision for a low tax, high grace economy that would take advantage of the freedoms of bracket. i recognize that given the situation, i cannot deliver the mandate on which i was elected by the conservative party. i therefore, spoken to his majesty the king to notify him the i am resigning as leader of the conservative party. the pound rose against the dollar and government borrowing cost
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dipped after the prime minister announced her resignation. trust is low tax and low regulation policies sent investors fleeing and pushed the pound to an all time low against the greenback. at one point, a trust had tried to save her position by admitting her plan was a mistake and a pointing jeremy hunt as a new finance mister hunt has reversed almost all of her tax cut and spending plans in an effort to restore the government's credibility. among the measures, jeremy hunt announced scaling back the government's costly state intervention, the camp energy prices, which will now and next april. reduction of the basic income tax rate would also be shalt off the plans. the scrap, the 45 percent rate of tax, the top owners were previously dropped. a planned increase in corporate taxes will now go ahead. after the government initially said it will cancel the rise. and
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hunter says he was open to imposing a windfall profits. tax on energy produces a measure the government had previously rejected were joining us now from london is greg when a chief economist at the global council, thanks very much for being with us. so how is all of this political turmoil right now affecting the markets in the economy? well, we can see some very visible signs of affecting the markets darling has been under pressure for some time, several weeks. and in the financial markets, the carpets calling after you get government has gone up and he's gone up quite significantly. and how, how profound is the economic damage caused by mrs. trust, his original tax plans, and then the decision to reverse all of that? well, certainly damaged the credit. busy of, of the, the u. t. government's financial markets in difficult circumstances. always want to
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know that government a credible fiscal strategy and have not been absent for some time. and the u. k. and the priority, right, be establish credibility, but financial markets by making sure that this strategy is clear and that you can buy sensible sets of this bill at rooms. that doesn't happen then of course it is damaging that the higher interest rates that the government is having to pay now on it's borrowing that's being reflected the cost of borrowing for high schools and farms and mortgages. mortgage rates are going up not will impact on the cost of living. busy for many households and businesses will also come under pressure at the rely on credit and credit becoming more expensive. but the, the back tracking on the original task comp plans does seem to have steady the ship
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for now, doesn't it? and do you see the potential for this conservative government to eventually fix the economy? well, the but tracking steady to ship to quite an extent, there's still a positive job that needs to be done, which is the chancellor night step. i spending funds for the next year and possibly further ahead the light. so the change economic circumstances and also the fiscal rules. explain how ups the government will meet at those fiscal rules. so which, which the job is partly done. it's not, it's not completed yet. i think whether it's best government or, or renew got or the next you know, labor got an election that does that. i think one thing that will happen is the political discussion room, fiscal policy will change, and the result took this whole episode and the days of just ignoring the
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trade off the road is required. disco policy, i think has gone. does that mean that the numbers and future i just one other thing i would emphasize, i think it was trusted. one thing it grew back on the agenda and i think that will probably be around the focus or policy discussions or something to come from income tax to energy bills as well as budget cuts. how is all of this going to affect the british people? are we looking at another era of austerity here? it's definitely already impacting on household budgets just a couple of days ago. we have the latest place and places creeping about 10 percent and big price inflation tripping about 14 percent. so those are hit the hardest and of course, you know, the energy prices are also rising rapidly. i don't. so borrowing,
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mortgage rates going up, then. yes, home sol. finances are under pressure on that on the economy. i'll be going to another each of a study. i think much, i don't think we can see that just yet. i think the key thing for you can government know after this for episodes is to keep in mind that whether your government or low tax governments numbers have to add up. so you can just borrow it indefinitely. large one is unique, a credible strategy, the present to financial markets. if you're not sort of at the bottom, the scene in financial markets, borrowing spiking as it has done. so can the government fill the fiscal hall and eventually deal with this tax with this deficit? yes, it turn and it's already made some programs find rebecca saying most of the tax changes
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that were originally amone's. i start which on monday at class right now that will take us suddenly to filling the gap is august, something more that needs to be done spent, they will come under pressure. and actually i think what financial markets want to see is that the gap is not just billed at no financial year in the next. but unto the sense that actually there's a computer system in place and years as well. and doesn't necessarily mean that it's the though it means that you need to at match your you're, you're spending ambition to your tax at policy. that was the mistake. one of the many mistakes at made by the trust got great. oh, and thanks for being with us. and you the europe has been busy lining up, alternative gas supplies, in an effort to reduce its reliance on russian energy. it's cutting demand and
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preparing for a complete whole to rush and gas. but despite its efforts, things are likely to get worse next year. and russian president vladimir putin has offered to resume deliveries through the north stream to pipeline. germany immediately rejected the offer. berlin hold to the approval of a north stream to after russia's invasion of ukraine. and moscow has stopped gas deliveries to europe through the nor stream one pipeline fighting technical problems. the pipeline have been leaking gas into the baltic sea after explosions ruptured the lines. in september. the europe suspects an act of sabotage, while putin blame the attacks on those who quote, benefit in the west hinting to u. s. involvement. washington denies the allegations. the president says it was possible to repair the pipelines if their future use were guaranteed. and he is offering to reroute deliveries. you are sure no more you is dealing with you more better than we could move the volume of transit and last along the nord streams,
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along the bottom of the baltic sea to the black sea region. i make the main route for the supply of our fuels, our natural gas to europe, through turkey, grating in turkey, the largest gas hub for europe. if, of course, our partners are interested in this, with them. or joining us from oxford is mike forward, a senior research fellow at the oxford institute for energy studies by somebody. what is. so what's putting, trying to do here? what's, what's behind this decision to offer gas supplies again to your you know, i think it's given me on laura. so they offer to maybe utilize the remaining stream. ready straight to which is not the damage. gotcha, america. they thought a very short notice already going to happen because the european no longer trust russia allowed the street to slow. obviously you have to wait till
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north street one to like their fixed. i think the app is not like the really alexi military to get from said it was 8 years to fix the basically fixed in a relatively short time scale. i mean, you know, 6 months if you can get me equipment there and that would be sweet. but you shouldn't take that long, but i think the politics sort of my, my will get in the way. we don't really shandey russia more russian gas coming to the will to your dangers. of course with bullying on you, ukraine, in structure, ukraine flows, i get, i get as you say, there are clearly trust issues here. germany has already refused the offer, but it leaves the question of whether yours has enough gas to survive without russia. supplies. in terms of this coming winter was to, to scale. what is coming with lane is a rapid 40 russian gas, but that spain with european demand falling dramatically because about
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a weather. but also this of the district about falling sharply and with all the energy coming in because of the pretty supply at charter particularly. and that should be able to so storage to very high level. so getting to this winter with a couple of caveats was a mild winter. and secondly, there's no real big search creation. shively should look like a baggy probably just about get through this winter storage could end up being relatively low levels as we enter the refill period. the problem that is, the lack of russian gas buildings is very difficult to, to, to, to fill story even to 5560 percent of the passage a. so next, when they die, shoot you a ship with no russia flows if ukraine's office was so now no return
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to to russian gas at all to the north stream pipelines. but can you replace all russian gas supplies? not, not in the what you might call the short medium. and the reliance really is waiting to be more supply to come on. well, next year they should be a little bit of fatty strong supply with around just like freeport determined the us, big down. yeah. we have the wild all the channels at most a certain areas that she has. supply looks ok and that's ation demand luxury about a little bit. the $2420.00 fall does not much most likely on. it's not until we get into late to put shakes where this next huge wavelength supply is expected to cologne. and we went to the 8 amount of supply but increased by 44 and
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50 percent at that point. and so i am then providing we, we've built, initiate infrastructure europe, a rig pipeline connections to the us around. and we know we since say some degree of normality in terms of the sort of panel re balancing the market issues please 4, maybe 5 years away. but puts in, it's suggesting turkey as a, as a gas hub. one of the challenges to that and is, is you are ready to buy gas from a project like this is not really politics with $1.00 to $2.00 is not already going to happen. is solar talks about gas. they may have to k either to be traded into your but it's still still russia gas and he's in the to buy more russia gas or more bizarrely, mostly liquid for gas in shipping oil. and even more bizarre,
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economical idea is not really a router or i think it's the same. the politics is what i'm going to happen. but alternative, alternative supplies seem to be a lot more costly. at this point, the french president demanding the u. s. in norway sell sell at lower gas prices. what do you make of that politics? i mean the is all going to legs up with the, the idea of capping the price of ts units repeated message. but the problem is it is no l. the us, for example, sold it lower than the market price remain, then somebody else just makes the margin and out of it. besides the market price, even the, the nature of the euro market, liquid trading market. huge about a trade going on between various parties. it just may no, no why not captured different rents will be able to capture the rent. so again, it's really a non mike for the moment. thank you,
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but stay with us. we will come back to a little bit later in the program. ok, 11 on an israel have recent historic agreement on a disputed maritime border. the countries are technically at war and have no diplomatic relations, but they've managed to agree on how to share gas fields lying off their coasts. if rectified by both governments, the u. s. broker cord could lead to both nations ramping up off shore gas production. and to israel exporting supplies to europe. israel is expected to produce natural gas from the cash maritime reservoir, together with the tan in field, is asked to make it to hold as much as 3 trillion cubic feet of natural gas. while lebanon, which is in a deep economic crisis, hopes the neighboring con field, could provide the country a financial lifeline, worth billions of dollars. but the production is likely years away. a significant
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quantities of natural gas have been discovered in the eastern mediterranean, in recent years, the use has the region can help when the block of russian energy, the block signed a trilateral gas agreement with israel and egypt in june. it enables israel to increase the export of its natural gas to egyptian port where it can be liquified, then transported to europe. several other nations are also looking to boost gas applies to european markets, but greece and turkey are locked in a dispute over sea bed territories, believe to contain lucrative gas deposits. and the divided island, the cypress, is yet to begin drilling in 3 major gas fields. the internationally recognized greek cypriot government and a turkish controlled northern cypress. can't agree on how to divide the resources. well back now to mike forward senior research fellow at the oxford institute for energy studies. so mike, how significant is this israel lebanon deal for both countries?
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and how much of a part the europe, gas supply problems play in that. yeah, and it should be, should be really sort of about the, the maritime borders to where the use will draw a line out into the, into the city to which she has control over the resources either side of it. so now come to some sort of agreement on that effectively what, what sort of belongs to level and what sort of love to israel. i think the details on this, on the qana gas trail, which is not whole level area, but he's ro, my, well out some sort of rice, at least the revenues from it's sort of sharing basis. and i think it's obviously given the security situation level and surround the region, maybe difficult, but it possibly means because gastro get developed. i think lebron itself the need some gas, some energy for electricity system also,
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possibility obviously exporting it. but that, that's where it kind of becomes tricky because they're going to feel failed in that region which are being developed or could be developed to either become an jay or possibly less likely pop pipeline gas to europe. can these, the fields, these fields fill a supply shortage gap in europe and it should be in the short term. i think that the probably on it is what we were discussing earlier. it says, rushing gas, and then it will take quite a while to develop these failed. so you're, you're talking about maybe 3 or 5 years before they was market. i'm not sure if it was full and i would, it was probably the moment israeli sort of selling into egypt let it be liquified in an export and the state is the cypress, failed the id and other fields of the area. the if the st. mary's quite prolific.
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it says it's potential. but how you actually evacuate just the market. it looks like it is possibly the preferred option gives you flexibility where pipeline yasser, your little sort of problem in terms of construction and also brazil problems and how do you deal with the debris? turkish issues on cyprus. yeah, you mentioned cyprus there. and so if we expand is to talk about the whole the mediterranean region and the gas applies there is there enough to eventually allow europe to win itself off of russian gas? i think it will help you put possibly comes a little bit to light. i think your can sort of, to some extent we did over russian gas obliged and bought a lot more and, and g am and with some sort of normalization of the market. so will 5 years out.
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and, but i guess every little helps in a sense of additional ploy and the fact that is close to your it would probably be helpful. i think there are number of political issues is to sort out given the nature of the disputes politics in the li. so what will it take for, for europe to, to make the full use of eastern mediterranean fields? i think in terms of it becomes and j. i mean, you may need to build more liquefaction facilities to fully sort of develop the reserve could back to be floating ela juice quicker than trying to build on shore g facilities. i don't think we'll see more on it, but there is a potential capacity and need gyptian co existing plants to take some of the gas in the food development. you may require a floating option, it could be relatively quickly,
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but you need to develop the reserves fails in parallel, or no that's going to happen before you bring it in. and so it's, it does not lead to your it also get elsewhere a lot more flexibility in sort of doing that. but it's, it's helpful. it's not, not mailed to the solution. all right, good to get your perspective on all this mike forward, thanks very much for being on counting. the cost cutter has launched its 1st solar power plant is expected to become the largest in the world, covering the equivalent of $1400.00 football fields, or some have been jav aid reports of their wants to expand. it's renewable energy as a step towards that, it's launch, it's 1st not scale solar power plant, which is going to be generating $800.00 megawatts about 10 percent of peak capacity here in there. this is one of 3 power plants which are going to be coming up in the
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next few years. and the minister for energy says that they are on track to make sure that this country which relies on its exports of hydrocarbons and usage of hydrocarbons goes to words green your sources. so a lot is going to actually become more efficient and cheap over time. and maybe the most important for us element is to try and reduce the size of land the to need. you know, a couple of us scarcity of land is a very small country. and you can see this is a joint project as follows. then this is the 1st project, the 2nd project is already under construction. as i mentioned it to the 75 of energy in on industrial cities that will take us to 1600. and then we will see, you know, with time we will increase the $1800000.00 solar panels installed in this power plant are jointly operated by total energy. these a japanese firm and
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a consortium of battery investors are the people behind it say that this is not just a p r exercise, but this keen energy will have a real impact on how people utilize energy is the just to greenwashing is because we shifted those strategy, the ambition of foot arlena jesus to become a merchant energy company, which means or jobs and explicitly electricity from renewables is the 1st. i would say will skid plant but that i know she's as built really great ambition to build 35 was by 2025. we have already be 16 and up in kids. it's a big one. so it's a song contribution to all i would say. road map, in addition, and you have all of her saw solar power plant, goes online as well. grab the energy prices and cut you off ortiz, believe perhaps the world needs to move to where it will cleaner and sustainable forms of energy. and that is our show for this, we get in touch with us by tweeting me at hasn't speaker, and do use the hash tag
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a j c t c. when you do or drop an e mail counting the cost that al jazeera dot net is our address. but it's more for you online at agitated dot com slash ctc. that'll take you straight to a page which has individual reports linked an entire episode for you to catch up on . so that is it for this edition of counting, the cost hasn't think from the whole team here. thanks for joining us. the news on edge data is next. the wow defines how wow we live here. we make the rule. not them people empower, investigate, expose those and questions. the youth and abuse of power around the globe on al jazeera ah
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