
World oil reserves at current demand are sufficient for the next century and the global oil industry should aim to produce at least 3 trillion bbl from conventional recoverable resources in known fields and discoveries over the next several decades, according to the head of Saudi Aramco.

The European Union consumer protection chief has accused low-cost airlines of obscuring the true price of airfare. The carriers were given four months to change their advertising practices or face restrictions on their Web sites.

Government officials and scientists from around the world are gathered in Valencia, Spain, for a United Nations conference that will culminate with the release later this week of a seminal report on addressing the impacts of climate change.
The European Parliament voted Tuesday to include airlines in the EU strategy to cut greenhouse gases, giving all carriers flying within or into the 27-nation bloc until 2011 to offset some of their emissions by buying carbon dioxide allowances on the open market.

The world's largest travel fair opened this week in London with a strong focus on green issues highlighting the ever-increasing pressure on the tourism industry to promote environmentally friendly ways of seeing the world.

The type of bird flu found in turkeys on an English farm is the virulent H5N1 strain, according to UK government veterinarians. The virus was discovered on Sunday at Redgrave Park Farm near Diss, Suffolk where all 6,500 birds, most of them turkeys, are being slaughtered.

China's consumer prices rose sharply in October reaching a decade-high monthly inflation rate of 6.5% adding to pressure for measures to cool the politically sensitive continuous surge in food prices.

Airbus revealed the name of the first individual to purchase the A380 super-jumbo, the world's largest passenger plane. Saudi billionaire Prince Alwaleed bin Talal is the mystery buyer of the VIP A380 version also called the Flying Palace.

Developing countries are deeply divided about how to advance on global trade talks and few ministers will attend a meeting this week meant to show their unity.

Euro-zone finance ministers urged China to bear more responsibility for global financial stability as they prepared a top-level mission to lobby Beijing about its runaway trade surplus with Europe.