Survey Shows Speedy Sales in SoCal Luxury Housing Markets

High end homes in both Malibu and Pacific Palisades are
selling faster, according to a Westside Estate Agency (WEA)
analysis of housing data in the two luxury markets through the
third quarter. The report, which reviews overall total sales
in

Bridging the great divide between home buyers and sellers

With mortgage rates below 4% and prices near bottom in many
markets, it's a good time to buy a house. But many owners won't
sell because they can't get the price they want.Where do you side
in the great real estate buy-sell divide of 2012? If you're a
homeowner considering selling sometime in the new year, are you
apprehensive that you won't get the price you need or want, and
therefore it's possible you won't even try to sell?

Actions on Housing Policy Will Make or Break Recovery

We have many reasons to be optimistic about housing. Past-due
mortgages and foreclosure filings have been trending down in recent
months, not to mention inventory is decreasing, interest rates are
lower than ever and home prices are stabilizing. But the

Regional Spotlight: Florida Tops U.S. for International Web Real Estate Traffic

Point2 recently released third quarter international consumer
real estate-traffic data for the United States on the Point2 Homes
consumer portal. Florida properties emerged as the lead attraction
for foreigners online, followed by Arizona and Nevada real estate
listings. Florida

Realogy Enters Into Agreements to Amend and Extend Apple Ridge Securitization Facility

Realogy Corporation (the company) announced recently that it
and its subsidiaries have entered into agreements to amend and
extend the existing Apple Ridge Funding LLC securitization program
utilized by the companys relocation services operating unit, Cartus
Corporation. Under the terms

Kiplingers Housing Forecast: Positive Signs Offset the Negative

The median home price in the U.S. has plunged nearly 40% in a
little over five years, but the worst is definitely over, according
to a recent report by Kiplinger: The market has finally wrung out
the last excess valuations

Prudential Network Realty Agent Ranked No. 1 Sales Associate in Florida

Prudential Network Realtys Elizabeth Hudgins of the Ponte
Vedra Beach office was recently recognized as the No. 1 sales
associate in the Prudential Real Estate Network in Florida, which
encompasses more than 10,000 agents, the company announced. In
year-to-date statistics

Prudential Network Realty Supports Jacksonville Children

The team of real estate professionals at Prudential Network
Realtys Avondale and San Marco, Fla. offices are helping make the
holiday season a little brighter for some Jacksonville children and
families this year by supporting several charitable events and
activities

Coldwell Banker Prime Properties Announces Several Promotions

Coldwell Banker Prime Properties, a leading Coldwell Banker
Residential Affiliate in New York State, has promoted several
individuals within the organization in its various Capital Region
offices, the company has announced. In the Green Island office,
Mary Huls was promoted

The RREIN Roundtable: Whats in Store for 2012?

For most in real estate, 2011 was yet another rough and
tumble year. As we tried our best to deflect the continued slings
and arrows of a challenged economy, many adjusted to the market and
unearthed new opportunities for growth

Put conditions in writing when letting tenant alter property

Taking steps such as having the tenants and landlord sign an
agreement regarding the proposed work, and getting the proper
permits for the job, can avert disputes and headaches down the
road.Question: I own a second home that I rent to a couple. They
have lived there for eight months. Recently, the wife told me they
would like to install a 220-volt electrical outlet in the garage so
that they can use a heavy-duty washer/dryer combo. I trust them,
but I still want to check whether I am required to allow them to
make this alteration and, if so, what my rights are if something
goes wrong.

Regional Spotlight: Nevada Law Slows Foreclosure Activity

(MCT)For years, the housing news in Nevada has been
unrelentingly bleak: Nearly 3 in 5 homeowners, and even the states
attorney general, are underwater on their home loans. In Las Vegas,
home prices have tumbled further than in any U.S.

BHG Rand Realty Owners Honored with Award of Distinction

The Rand Family recently received the Rockland Economic
Development Corporations (REDC) Award of Distinction for their
ongoing dedication, commitment and contributions to economic
development in Rockland County, NY. Better Homes and Gardens Rand
Realty Founder and CEO Marsha Rand opened

HUNT Real Estate ERA Creates Super Branch

At a meeting held recently at the Craftsman Inn in
Fayetteville, N.Y., HUNT Real Estate ERA announced plans to open a
new Super BranchThe Workplace for the Real Estate Professional
Elite. To create this Super Branch, the existing HUNT
offices

NAR Pulse: This Weeks Top Stories from the NATIONAL ASSOCIATION OF REALTORS

This weeks headlines from the NATIONAL ASSOCIATION OF
REALTORS include: Save $130 on the new Buyers/Sellers Profile;
access your member guide anywhere and NAR applauds mortgage reform
bill. Save $130 on the New 2011 Buyers and Sellers Profile
The

PCMS Consulting Partners with Pulse Realty Software

In an effort to help clients differentiate themselves by
offering enhanced agent and consumer experiences, PCMS Consulting
has signed a partnership agreement with Pulse Realty Software.
Pulse was founded in 2006 with the goal of streamlining brokerage
operations. By eliminating

Long Nguyen of J. Rockcliff REALTORS Named REALTOR of the Year

J. Rockcliff REALTORS, a premier San Francisco East Bay
residential real estate firm, has announced that Long Nguyen of the
companys Walnut Creek office has been named REALTOR, of the Year by
the Contra Costa REALTORS (CCRIM) in Motion organization

Life in Mobile: Market Snapshot

As 2011 draws to a close, it makes you wonder; where did the
time go? On the other hand, one thing youre not left wondering is
whether mobile will remain an important part of the technological
and marketing landscape moving

30-Year Fixed-Rate Mortgage Matches All-Time Record Low

Freddie Mac recently released the results of its Primary
Mortgage Market Survey (PMMS), showing average fixed mortgage rates
at or near their all-time lows. The 30-year fixed matched the
average all-time record low of 3.94 percent, and a new
all-time

10 Simple Steps for Making 2012 a Success

In recent years, it has been hard to ignore all of the
negative publicity that has been circulating about the national
economy, the stock market and current events. The state of the real
estate market in particular has received a

Signs of Stability: November Home Sales in Metro Chicago

Home sales activity in the metropolitan Chicago real estate
market during November delivered another indication that a gradual
increase in the number of homes changing hands is beginning to help
stabilize home prices, according to an analysis by RE/MAX of

Showing Suite Productivity Software Enables Agents to Provide Top-Notch Service

Maintaining a competitive edge in todays market takes more
than positioning yourself as an educated, trusted advisor. As
buyers and sellers alike continue to turn to the Internet to start
their real estate search, its more important than ever that

A classic Italian villa in Long Beach

Mature Cypresses line the driveway of a classic Italian villa
in a gated community in Long Beach. An arched entrance opens to
soaring ceilings hand-painted by artisans. Wall murals inspired by
different periods of art history, original plaster crown moldings
and floor-to-ceiling doors with arched tops continue throughout the
main living spaces.

Homeowners want to change association board's meeting time

How can owners get the board to change the meeting time?
Also: An association dislikes the way its management company
handles its money.Question: Our monthly homeowner association board
meetings are Wednesdays at 4 p.m., when most owners are at work.
This ensures a low turnout. Of 200 owners, maybe two can attend.
How can owners get the board to change the meeting time?

Hot Property: Dennis Quaid sells Pacific Palisades estate

The actor's property, which sells for $9.5 million, came on
the market in March at $16.5 million.Actor Dennis Quaid has sold
his equestrian estate in Pacific Palisades for $9.5 million.

The Truth Behind Late Mortgage Payments: How Being Behind on Payments Can Affect You

If you fall behind on your monthly mortgage payments it is
important to know the consequences. Equally important is learning
techniques to managing money so that you can avoid
repossession.

The ARM Crisis : A Pending Mortgage Meltdown

If you thought the Subprime Mortgages caused a shakeup, be
prepared for an even larger one. Adjustable Rate Mortgages.

Lender Options for a Home Loan Mortgage

Home loan mortgage lender options include a mortgage broker,
credit union, mortgage bank, national bank, savings
association...

Senators get Special Mortgages, while Homeowners Get Shafted

While Senators Chris Dodd and Kent Conrad deny receiving
getting special mortgage benefits, former Countrywide Executives
testify that they knew well of the special treatment.

Mortgage Rates Finding The Lowest Rate Available

Factors affecting Mortgage Interest Rates offered by
different Mortgage Companies and the purpose of using an Online
Mortgage Calculator to shop for the Lowest Home Mortgage
Rates.

FHFA to Expand Mortgage Refinancing Program

As the housing market continues to struggle, the Obama
Administration and the FHFA are looking at new ways to help
homeowners refinance their mortgages.

Protect Your Investment with Mortgage Protection Plans

Popular Mortgage Protection Insurance Plans that homeowners
should consider including Private Mortgage Insurance, Mortgage Life
Insurance, and Mortgage Disability Insurance

Essential Vocabulary for Mastering a Mortgage Transaction

Learn important Mortgage Terms and Terminology to assist in
the process of evaluating Mortgage Companies, Mortgage Points,
Monthly Payments, and Current Mortgage Rates

Fed Chair Bernanke Charts Home Loan Mortgage Plan

Fed chairman Bernanke outlines four measures to help and
protect Home Loan Mortgage borrowers.

Making Home Affordable, The Government Program, Expanded to Help More Homeowners

Obama seeks to boost participation in the anti-foreclosure
programs started in February 18th by making more individuals
eligible.

Mortgage News Recap for November 18th, 2009

The Fed forces banks to disclose to consumers when their
mortgages are sold, housing applications drop, and Rep. Barney
Frank has a potential solution for unemployed homeowners.

Pay 30-year loan vs. refinance to 15 years

Paying down your mortgage before retiring is a great idea.
Consider refinancing, too.

Cut taxes with early mortgage payment

Paying your January mortgage and annual property tax bill in
December can pay off at tax-filing time.

6 ways to throw a great party for less

Ring in the New Year on the cheap with these party tips from
the pros.

Mass Foreclosures Cause Bottle Neck between Banks and U.S. Courts

Still feeling the effects of the mortgage crisis, banks have
been using shady techniques to pass foreclosure paperwork through
the system. Foreclosure proceedings have been put on hold until the
review of the banks' practices is complete.

Three Key Home Buying Tips

Important guidelines to consider when Buying a Home whether
it may be Old or New Homes. Learn how to evaluate Home Values for
Homes For Sale By Owner and Foreclosure Listings

Government Insured Mortgages Highest Since 1990s in United States

The governments insuring of US Mortgage Loans is the highest
that its been in almost two decades.

Consumer Protection Bureau to Look at Mortgage Lending First

The new U.S. Consumer Financial Protection Bureau has chosen
to take a look into the mortgage industry as its first
project.

North Carolina Company Offers Help to Seniors with Mortgage Problems

A credit counseling service based in Greensboro, North
Carolina is offering assistance to senior citizens experiencing
mortgage problems.

Rising Home Loan Mortgage Delinquencies Forecast Lower Home Prices

Home loan mortgage delinquencies and defaults on the rise,
forecasting lower home prices

Cut taxes with early mortgage payment

Paying your January mortgage and annual property tax bill in
December can pay off at tax-filing time.

Surge in Home Loan Mortgage Applications

Low Mortgage Rates and Interest Rates lead to increased
Mortgage Home Loan and Mortgage Refinance Applications in the first
week of January

New Plan for a Mortgage Rates Freeze

Subprime mortgages and arresting foreclosures main focus of
new Bush plan.

Help with your Home Loan Mortgage is on the Way

Congress proposes legislation to help Americans with their
Mortgage Home Loans and to stem further Foreclosures

Affordable Mortgages and Residential Real Estate Available for Home Buyers

Low Home Loan Mortgages, Mortgage Refinancing, Mortgage
Rates, and home prices offer consumers unparalleled
opportunities

Understanding Mortgage Types: A Toolkit for the Future Borrower

An explanation of Mortgage Types in order to help homeowners
Compare Mortgages and find a Real Estate Mortgage that can best
meet their financial needs

How Much Mortgage Can I Afford?

Reasons to Figure Out Monthly Payments by the use of Home
Mortgage Rate Forecast Techniques and Tables used to determine
Mortgage Payments and Mortgage Interest Rates

Mortgage Brokers and Other Mortgage Services

A comparison of the different roles and services offered by a
Mortgage Banker, Mortgage Broker, Mortgage Originator and a general
Mortgage Company

Bernanke Looking for 4% Mortgage Interest Rates

It may be getting to be the best time to refinance as
mortgage rates may hit lows now seen since the 1950s.

How Adjustable Rate Mortgages Went Bad

A new dirty word in the world of mortgages have become ARM /
Adjustable Rate Mortgages. Learn about what made these good loans
go bad.

Mortgage Insurers helping those in Hardship

Stressed homeowners are finding an unlikely ally in their
struggle to keep their homes.

The $8,000 New Homebuyers Tax Credit Set to Expire

The tax credit responsible for 350,000 new home sales may be
expiring soon. Will Congress extend it?

Mortgage Calculators Make Finding the Best Mortgage Easy

Many Americans have a dream of one day owning their own home.
Purchasing a home is likely to be the largest investment ever made
by the average consumer...

Mortgage Terms and Explanation: The Knowledge You Need

The threat of Mortgage Foreclosure makes FHA Mortgages and
FHA loans more accessible with lower, more affordable FHA mortgage
rates.

Mortgage Rate Predictions Can Save You Money

In todays economy, mortgage interest rates are always
changing. When considering applying for a mortgage...

After Being Ordered to Delist, Fannie Mae and Freddie Mac Stocks Drop

After being ordered to delist from the NYSE by the Federal
Finance Housing Authority, Fannie Mae and Freddie Mac stocks have
dropped significantly.

Obama Administration Establishes Plan to Renegotiate Mortgage Rates

In 2009 the Obama Administration passed the Financial
Stability plan to confront and combat the credit crisis that was
threatening to topple to U.S. economy. Part of the plan, the Home
Affordable Modification Program, established guidelines for lenders
to refinance the mortgages of homeowners who were struggling to
keep their homes.

Dropping Home Values has some Borrowing from 401K

Instead of taking out a reverse mortgage many people have
been withdrawing from their 401k to pay off bills and expenses.
This practice could have dire questions and cost you thousands of
dollars towards your retirement.

Thirty-Year Mortgage Rates Dropping to Record Lows

According to a survey performed by mortgage originator
Freddie Mac, after months on the up swing, 30-year fixed mortgage
rates fell to 4.32% this week, the lowest they have been since last
November when they were threatening all-time lows.

Government Fighting Housing Slump on Multiple Fronts

After many tepid attempts at boosting the housing market, the
federal government is finally pulling out all the stops by
instituting new policies through three different agencies.

'The craziest thing I did to save money'

Consumers get creative and colorfulwhen they are forced
to stretch their dollars!

Pay 30-year loan vs. refinance to 15 years

Paying down your mortgage before retiring is a great idea.
Consider refinancing, too.

Video: Switch banks if fees rise

Consumers are willing to switch financial institutions if
their checkingfees increase.

'The craziest thing I did to save money'

Consumers get creative and colorfulwhen they are forced
to stretch their dollars!

Pay 30-year loan vs. refinance to 15 years

Paying down your mortgage before retiring is a great idea.
Consider refinancing, too.

6 ways to throw a great party for less

Ring in the New Year on the cheap with these party tips from
the pros.

Cut taxes with early mortgage payment

Paying your January mortgage and annual property tax bill in
December can pay off at tax-filing time.

Mortgage Rates Increase Today: 30 Year Mortgage Rates at 4.03%

Mortgage rates today are higher on both fixed conforming home
loans and fixed jumbo home loans.Current mortgagerates
on 30 year home loans are averaging 4.03%,an
increasefromyesterdays average30 year mortgage
rate of 4.02%. Todays mortgage rates on 15 year mortgage loans are
averaging 3.35%,an increasefromyesterdays average
15 year rate of 3.30%. Search and comparemortgage rates
from

Mortgage Rates This Week: 30 Year Mortgage Rates at 3.91%

Mortgage rates aremixedthis week as fixed
conforming 30 year mortgage rates stayed under 4.00% for the third
consecutive week. Current mortgage rateson 30 year home loans
are averaging 3.91%, a slight decreasefrom last weeks average
30 year mortgage rate of 3.92%. Mortgage rates on 15 year mortgage
loans areaveraging 3.24%,down from last weeks average
15

Mortgage Rates: 15 Year Mortgage Rates at 3.33%

Mortgage rates are mixed today, no major changes in average
mortgage rates. Todays mortgagerates on 30 year home loans
are averaging 4.03%,unchanged fromyesterdays
average30 year mortgage rate. Current mortgage rates on 15
year mortgage loans are averaging 3.33%,a decrease from
yesterdays average 15 year rate of 3.35%. Search and
comparemortgage rates from several lenders
byusing

Joseph Stiglitz on a Renewed IMF

Professor Stiglitz talks about the greatly expanded role for
the International Monetary Fund. One of the things that is of great
concern to many developing countries, is if the IMF is to become
this source they can rely on when they need reserves, it needs to
become automatic. They can't go through an examination process
where sometimes they pass and sometimes they fail.

Ester Fuchs Reappointed to FDIC Committee

Professor Ester Fuchs, director of SIPAs Urban and Social
Policy Concentration, was reappointed to the FDIC's Advisory
Committee on Economic Inclusion (ComE-IN). The committee provides
the FDIC with advice and recommendations on expanding access to
banking services by under-served populations. FDIC Chairman Sheila
Bair said Professor Fuchs', "...insight and participation as a
representative of the academic community has been
invaluable.

Stuart Gottlieb on U.S. Strategy toward Afghanistan and Pakistan

In a letter to the editor, Professor Gottlieb says, The Obama
administrations desire to find a middle way between all-in and
all-out in United States strategy toward Afghanistan and Pakistan
is certainly understandable. But a policy based primarily on
fighting Al Qaeda in Pakistan is fraught with peril.

Complacency Kills: Counterinsurgency and the Future of Iraq

SIPA's Alumni Relations Office presents an alumni policy
forum with Professor Austin Long, "Complacency Kills: Observations
from the Field on Counterinsurgency and the Future of Iraq."
Professor Long teaches security policy at SIPA, focusing on
national security, counterinsurgency, and political science.

Steven Cohen on the 2009 NYC Mayoral Election

Professor Cohen commented on Michael Bloombergs last-minute
ad campaign. He said, Its unfortunate that its sunk to this level.
It didnt have to. He called the last-minute advertising blitz
intensely nasty.

Guillermo Calvo on Brazils Stocks and Securities Tax

Professor Calvo said, Several empirical studies show that
taxes on capital inflows have little effect on total flows and,
therefore, are unlikely to succeed in slowing down the appreciation
of Brazil's currency.

Alumnus Appointed to Post in Colombia

Diego Andres Molano Aponte (MPA '00) was appointed High
Commissioner and Director of the Presidential Agency for Social
Action and International Cooperation (ACCION SOCIAL) in Colombia.
Molano Aponte was previously the Coordinator of MIDAS, a USAID
program. Molano Aponte is a recipient of SIPA's Harvey Picker Prize
for Public Service.

James Rubin on Democracy and the Obama Administration

Professor Rubin writes "...by putting a premium on listening,
not lecturing, and by injecting a corrective dose of pragmatism, an
impression has been left that America's historic support for the
spread of democratic values has diminished."

Gary Sick on Irans Plans for New Nuclear SitesSample item

Professor Sick commented on Iran's plans for ten new nuclear
sites, saying At a minimum, this is a project that would require
Iran to mobilize all of its resources in a national effort over
many years. In my view, this is a classic Ahmadinejad blustery
response to the recent IAEA resolution and is the kind of
ante-raising that one might expect in a negotiating game of
'chicken.'

Environment, Natural Resources and Eco-tourism: Tools for Peace Building and Sustainable Development in the Balkans

The Center for International Conflict Resolution (CICR) in
partnership with the Italian Ministry for Environment Land and Sea
co-host a two-day symposium, exploring issues related to
sustainable development, environmental policy-making and peace
building in the Balkans. January 28 29, 2010

Hassan Abbas Appointed Visiting Professor

Hassan Abbas has been appointed the 2010 Quaid-i-Azam
Professor, associated with the South Asia Institute. Professor
Abbas teaches courses focusing on politics, religion and security
in South Asia. He previously served in the administrations of
Pakistani Prime Minister Benazir Bhutto and President Pervez
Musharraf.

Guillermo Calvo: Keynote Speaker at Global Development Conference

Professor Guillermo Calvo addressed credit flow in the
keynote address at the 11th Annual Global Development Conference in
Prague, Czech Republic. He proposed that the 2008 financial crisis
saw a bank run that connected the financial and real sectors by a
sudden freeze in credit.d.

Iran: After the Election

Leading Iranian scholars and analysts discuss the impact of
the recent elections, Iran's relationship with the international
community and the theocratic foundations of the Islamic Republic.
The conference was co-sponsored by SIPA and the Middle East
Institute.

Robert Jervis on the Biggest Challenge for American Intelligence

Professor Jervis writes " The problems with our intelligence
system aren't primarily problems with information. They are
problems with how we think."

Joseph Stiglitz on a Second Stimulus for Job Creation (Forbes)

Professor Stiglitz says the economy could dip back into
recession unless the banks ease the terms of mortgages. Unless
there is a stimulus "unemployment will rise in 2010, not
decline."

Joseph Stiglitz on Freefall: America, Free Markets and the Sinking of the World Economy,

Professor Stiglitz says back in the spring of 2008, people
like Bernanke were saying we're over the worst. Regulators didn't
want to admit that they had made really bad regulatory decisions.
They didn't want to admit that they had allowed a housing bubble to
grow.

Dorian Warren on the State of the Union Address

Professor Warren analyzed President Obama's State of the
Union address, saying "He kept his cool. He struck the right theme
throughout the speech. He took responsibility for some of the
mistakes the administration made the first year. ... He gave what
amounts to a really grown-up speech."

Jeffrey Sachs on the Rebuilding of Haiti (USA Today)

Professor Sachs says Haiti's rebuilding should be
orchestrated by a single powerful entity. He's calling for a $3
billion reconstruction fund, including $1 billion from the USA, run
through a multinational agency with a governing board including
Haitians.

Joseph Stiglitz on Greeces Budget Plans

Professor Stiglitz says I would give a strong cautionary note
against deficit fetishism. If you have less success stimulating the
economy through other means, then I start getting worried.

Rodolfo de la Garza on U.S. Remittances and the Mexican Economy

Professor de la Garza said (Remittances) reduce familial
costs, thereby reducing poverty. What it does is enable the state
to effectively put out less money for the poor, because the poor
are making money off of remittances.

Aldo Civico on the President Elections in Colombia

Professor Civico, director of the Center for International
Conflict Resolution, says (Juan Manuel) Santos may be vulnerable to
criticism over some of the Uribe government's perceived problems.
(Opposition Senator Gustavo) Petro may focus on accusations that
the government collaborated with paramilitary groups in its effort
to destroy the Revolutionary Armed Forces of Colombia, the
country's biggest guerrilla group.

Sue Sheridan on the Coalition for Fair Transmission Policy

Adjunct professor Sue Sheridan said The geographic breadth of
these (electric) companies illustrates the nationwide significance
of the debate on transmission policy, and each company's
recognition of its local consumers' need to keep energy costs as
low as possible.

Policymaking in the Digital Age

The Morningside Post, SIPAs student-run blog, hosted a
conference examining the intersections of digital technology and
international affairs. The conference included panel discussions on
information communication technology and development, open
governance, and how policy schools can be involved in the
process.

The U.S. Census: The Future of Racial and Ethnic Categories

Racial identification on the U.S. census goes back to the
nations roots. Despite many changes over time, the census uses the
same basic racial classification scheme introduced in the 18th
century. The civil rights revolution of the 1960s raised the stakes
for racial classification, as the data are increasingly used to
draw congressional districts and allocate government
resources.Professor Kenneth Prewitt, director of the 2000 census,
led off a panel discussion on the census and racial and ethnic
categories

Kenneth Prewitt on the Census Advance Letters

Professor Prewitt says advance letters first went out in
2000, based on research conducted after the 1990 census. He says he
has no doubt that the letter campaign boosted participation rates,
calling it "a very good investment."

Aldo Civico on the Release of Colombian Hostages

Professor Civico, director of the Center for International
Conflict Resolution, says the rebels, whose ranks have thinned by
half to about 8,000 since 2002, are seeking to draw attention to
their 46-year-old insurgency after suffering crippling setbacks in
2008. The FARC are looking to recover political space. Theyre
desperate.

SIPA Inks Agreement to Host Energy Students from Portugal

Beginning in 2011, Columbia Universitys School of
International and Public Affairs (SIPA) will host each fall
semester nearly two dozen students from Portugals Instituto
Universitário de Lisboas Business School (ISCTE). The students,
from ISCTE Business Schools MBA program in energy systems, will
enroll in energy-related courses at SIPA, such as those offered
through the schools Energy and Environment concentration in
collaboration with SIPAs Center for Energy, Marine Transportation
and Public Policy.

Alumnus Awarded for Exposé on Silicon Sweatshops

Silicon Sweatshops, an investigative series for GlobalPost
co-authored by Jonathan Adams (MIA '03), won a Best in Business
Journalism award from the Society of American Business Editors and
Writers. The report exposed working conditions at factories in
China that build components for American companies. The series was
co-reported by Kathleen McLaughlin. Adams reports on Taiwan for
GlobalPost, and has covered China and Taiwan since 2002.

Helen Clark: The UN and Development Challenges in a Time of Multiple Crises

SIPAs United Nations Studies Program hosted Helen Clark, the
first woman administrator of the United Nations Development Program
and former Prime Minister of New Zealand. The discussion was
moderated by UNSP director Professor Elisabeth Lindenmayer.

Hassan Abbas on the Radicalization of Faisal Shahzad

Professor Abbas writes "Based partly on my studies of Muslim
youth in the West, I suspect that Shahzad was first influenced by
various websites that encourage and propagate extremist religious
views, mixing religious bigotry and dogma with conspiracy theories
specifically targeting a younger generation of Muslims living in
the West."

SIPA Spotlight: Graduate Focuses on Building Peace

Twenty-seven year old Monique Tuyisenge-Onyegbula (MIA '10)
has already witnessed four wars in Rwanda, Cote dIvoire, Iraq and
Afghanistan. It has been a long journey for Tuyisenge-Onyegbula.
Her goal: To help bring peace to communities affected by violence.
More from ColumbiaNews.

SIPA and São Paulo: New Dual Degree Established

As part of SIPAs effort to expand its network of global
partners, the School is establishing a new dual degree in São
Paulo, Brazil. The deans from Columbias School of International and
Public Affairs (SIPA) and Fundação Getulio Vargas Escola de
Administração de Empresas de São Paulo (FGV-EAESP) signed the
agreement in New York on May 3. The first class is expected to
enroll in the fall of 2010.

Global Warming and Game Theory

Professor Scott Barrett says "If we break up the problem into
smaller pieces were more likely to have a dramatic impact in the
end."

SIPA's Global Leaders: Paul Volcker, WITNESS, Mitchell Silber (MIA 05)

On April 14, SIPA will honor a trio of guardians of the
public interest in economic policymaking, human rights advocacy,
and homeland security practice.

A Beachgoers Duty

SIPA News: The Water Issue features a surfer and a fisherman
leading the way to curb runoff pollution on the New Jersey
shore.

Panelists On Egypt: Arab World's First Democracy?

Five experts on democracy and Middle Eastern politics
discussed Egypt's uprising at a panel at SIPA "The Egyptian
Transition in Context." Alfred C. Stepan, Professor of Government
and former Dean of SIPA, noted that Egypt's political upheaval is
extraordinarily significant because no Arab country is currently
considered a democracy.

Chief TARP Strategist to Discuss Programs Success, Future of Markets

Programs Success, Future of Markets David Miller, chief
investment officer for the U.S. Treasurys Troubled Asset Relief
Program (TARP), will deliver SIPA's Investcorp Lecture on February
25.

UN Woman: Michelle Bachelet in Conversation at SIPA

Former President of Chile Discusses Life as a Female Leader
and Her New Role at the UN By Marie OReilly, Communiqué

BRICLab: SIPA to Corner the Emerging Markets with a Center for the Study of Brazil, Russia, India and China

Four of the worlds fastest growing economies Brazil, Russia,
India and China, the so-called BRIC nations now have a special
forum at SIPA: the BRICLab.

SIPA Faculty Discuss the Implications of Osama bin Laden's Death

SIPA faculty and alumni are discussing the implications of
the death of Osama bin Laden, Al Qaeda leader and 9/11
mastermind.

Dean John Coatsworth Named Interim Provost

Columbia President Lee C. Bollinger has appointed SIPA Dean
John H. Coatsworth as interim provost of the University.

SIPA Graduate is 2011 Columbia Alumni Medalist

Jian Ni Nina Sun (MIA 01) was awarded the Columbia Alumni
Medal at the 2011 University Commencement. The Alumni Medal is the
highest honor bestowed by the Columbia Alumni Association for
distinguished service to the University.

Saving the Forests: An Environmental Challenge in Haiti

As international attention focused on Haiti after the
devastating earthquake in January 2010, SIPA students focused their
Capstone workshops on Haiti as well. One team joined an Earth
Institute workshop to study environmental issues, examining the
energy and deforestation challenges in the country. John Burnett
(MPA 11), who concentrated in Energy and Environment at SIPA, knows
Haiti, its people, and its challenges well. He was in
Port-au-Prince during the earthquake.

Behavior in the Voting Booth

Professor Michael Ting's new book, A Behavioral Theory of
Elections, examines the "bounded rationality" of voters and
political actors.

In Vogue: From Conflict Resolution to Peace Building

SIPAs Center for International Conflict Resolution hosted its
11th annual Peace Building Fieldwork Symposium on September 26. The
symposium is the capstone event of Applied Peacebuilding: Core
Competencies for Fieldwork, led by Zachary Metz, who gave a brief
introduction: This class was founded eleven years ago when actually
the terminology of peace-building was really not in vogue, said
Metz. There was a move from a paradigm of conflict resolution to a
notion of building something.

Every Woman Every Child: Celebrating UN Day

Modesta, a Malawi mother-to-be, groans in pain from a
contraction. She is in labor. Not too long ago, she may have been
alone during this time, with only her medically untrained family
for support. She would have risked complications and even death for
her and her child because her village had no clinic and was too
remote to reach any medical facilities in time.

Lawrence H. Summers: Gabriel Silver Memorial Lecture

Lawrence H. Summers, Charles W. Eliot University Professor at
Harvard University, former Director of the White House National
Economic Council, andformer U.S. Secretary of theTreasury,
delivered the Gabriel Silver Memorial Lecture on December 1.

A Conversation with Scott Barrett, Lenfest-Earth Institute Professor of Natural Resource Economics

As the Lenfest-Earth Institute Professor of Natural Resource
Economics at Columbia University's School of International and
Public Affairs and the Earth Institute, Scott Barrett is focused on
transnational and global challenges, ranging from infectious
disease eradication to climate change. In addition to teaching and
research, Barrett has advised a number of international
organizations, including the European Commission, the World Bank,
and the United Nations. He is the author of Environment and
Statecraft: The Strategy of Environmental Treaty-Making and Why
Cooperate? The Incentive to Supply Global Public Goods.

10 Year Fixed Mortgage Rates

Why Fixed Rate Mortgages are Ideal for First Time Buyers
Buying a house is not an easy task and the process is made even
more difficult because the buyer also has to find the perfect
mortgage to pay for the purchase. For the uninitiated first time
buyer, understanding various mortgage loan options and identifying
the

30 Year Fixed Mortgage Rates

Advantages of Fixed Rate Mortgages Fixed rate mortgages are
immensely popular among home buyers in the US when the prevailing
interest rate is low. During the recession, interest rates
sustained severe hits, pushing the cost of mortgages down. However,
the uncertainty in the economy and financial crunch also resulted
in dramatic reduction in salaries. Several

Humbled and Honoured

This month, Alberta Venture came out with Albertas 50 Most
Influential People of 2011 list and I was truly honoured to be
selected as one of the recipients. In the past, this list has
included prominent Albertans including Premier Ed Stelmach, Ron
Liepert and OSDGs current Executive Director, Ken Chapman. This
year is no different with people such as Stephen Harper, Patrick
Daniel and Elizabeth Cannon. The list is quite diverse with
individuals of every age and from various sectors and industries
all with one commonality; making Alberta a great place to call
home. My life in Alberta has provided me with many opportunities to
benefit this province as well as an industry that I so strongly
believe in. The article went as far as to title me an Oil Sands
Evangelist as I spend my time criss-crossing the continent in an
effort to spread affection for the oil sands. I have not found it
difficult at all to get involved with, and promote, an industry
that benefits so many. I consider my time well spent and a
contribution to my own personal growth. I am very appreciative of
this acknowledgement and Im humbled to be named among the group
that was chosen.

What is double-entry bookkeeping?

Double-entry bookkeeping refers to the 500-year-old system in
which each financial transaction of a company is recorded with an
entry into at least two of its general ledger accounts. For
example, if a company borrows $10,000 from its bank, the companys
asset account Cash is increased with a debit entry of $10,000 and
the companys

What is bookkeeping?

Bookkeeping involves the recording, storing and retrieving of
financial transactions for a company, nonprofit organization,
individual, etc. Common financial transactions and tasks that are
involved in bookkeeping include: Billing for goods sold or services
provided to clients. Recording receipts from customers. Verifying
and recording invoices from suppliers. Paying suppliers. Processing
employees pay and the related

What is the difference between a contingent liability and an estimated liability?

A contingent liability is a potential liability (and a
potential loss). It is dependent upon a future event occurring or
not occurring. For instance, if someone files a lawsuit against Jay
Corp, Jay Corp will have a contingent liability. The lawsuit
liability is dependent upon Jay Corp losing the lawsuit. (Some
lawsuits are nuisance suits

Are estimates allowed in bookkeeping?

While bookkeeping involves mostly precise amounts from sales
and purchase invoices, cash receipts and checks written, etc. there
are situations when estimates need to be entered. This is
especially true when monthly financial statements are prepared
under the accrual method of accounting. For instance, the monthly
bookkeeping entries for depreciation, property taxes, utilities,
fringe benefits

What is an outlier?

In cost accounting, an outlier could be a cost or its related
level of activity that is out of line with other observations. An
outlier can be detected by plotting each observations cost and
related level of activity onto a graph or scatter diagram. If one
of those points deviates from the pattern of the

In bookkeeping, why are revenues credits?

In bookkeeping, revenues are credits because revenues cause
owners equity or stockholders equity to increase. Recall that the
accounting equation, Assets = Liabilities + Owners Equity, must
always be in balance. The asset accounts are expected to have debit
balances, while the liability and owners equity accounts are
expected to have credit balances. Therefore, when

Has the IRS changed its mileage rate for the business use of a car in 2011?

As of July 1, 2011 the IRS optional standard mileage rate for
business use of an automobile is 55.5 cents per mile. This new rate
will apply for the six-month period of July 1 through December 31,
2011. The rate for January 1 through June 30, 2011 was 51 cents per
mile. In addition to

Where does the interest paid on bank loans get reported on the statement of cash flows.

The interest paid on bank loans is included in the operating
activities section of the statement of cash flows. This is the case
for both short-term and long-term bank loans. However, the
principal amounts that were borrowed and the amounts that were
repaid are reported separately under financing activities. Under
the indirect method, the interest

What does a debit signify in bookkeeping?

In bookkeeping, a debit can signify an increase in an asset,
an expense, and the owners draws. A debit can also signify a
decrease in a liability, revenues, and owners equity. A debit is
one-half of bookkeepings double-entry system. The other half is a
credit. A debit is also the amount entered on the left-side

2 Billion Results

Tuesday morning we reached 2 Billion BOINC results processed
by SETI@home! Or to be more accurate, 2 to the power of 31 results
(2,147,483,648). This explains why we haven't yet recovered from
the weekly outage: we need to update code to accept larger
numbers.

What is owners equity?

Owners equity is one of the three main components of a sole
proprietorships balance sheet and accounting equation. Owners
equity represents the owners investment in the business minus the
owners draws or withdrawals from the business plus the net income
(or minus the net loss) since the business began. Mathematically,
the amount of owners equity

What is prime cost?

Prime cost is the combination of a manufactured products
costs of direct materials and direct labor. In other words, prime
cost refers to the direct production costs. Indirect
manufacturing costs are not part of prime cost. Related
QuestionsWhat is a line of credit?What is historical cost?How do
you calculate the cost of goods sold for

The TEAM Principle - Podcast 3

In the third edition of the Setting the Record Straight
podcast, Im pleased to discuss cooperation among oil sands
organizations. This is an important subject because unlike most
competitive industries, producers in the region are highly aware
that working togetheron non-competitive mattersis an advantage. My
members understand cooperation benefits the environment, the people
of the region and the industry. To hear more about how we are
working together, please in tune in. As always, if you have any
questions or comments, please direct them to
info@oilsandsdevelopers.ca or leave a comment below. Thanks again
for listening.

What is the segregation of duties?

The segregation of duties is associated with the safeguarding
of an organizations assets and the topic known as internal control.
An example of the segregation of duties would be a companys
requirement that the bank statement for its checking account must
be reconciled by someone other than a person writing checks and
someone other than

What is cash flow net of tax?

I view cash flow net of tax as the amount of cash spent minus
the income tax savings when the amount is deductible on the
corporations income tax return. To illustrate this, lets assume
that a U.S. corporation pays a combined federal and state income
tax rate of 40% on its last increment of income.

What is the maximum amount of earnings subject to the Social Security tax in 2012?

The maximum amount of an employees 2012 earnings that is
subject to the Social Security tax is $110,100. That amount is an
increase from the 2011 taxable maximum of $106,800. The combination
of the Social Security tax and the Medicare tax is often referred
to as the FICA tax. However, there is no taxable maximum

What is a purchase return?

A purchase return occurs when a buyer returns merchandise
that it has purchased from a supplier. Under the periodic inventory
system, the cost of the merchandise that was returned is recorded
as 1) a credit to the general ledger account Purchase Returns or
the account Purchase Returns and Allowances, and 2) a debit to
Accounts

Why does LIFO usually produce a lower gross profit than FIFO?

LIFO usually produces a lower gross profit than FIFO only
because the costs of the goods purchased or produced have been
increasing over the past decades. Since LIFO assigns the latest
costs of the goods purchased or produced to the cost of goods sold,
the rising costs mean a higher amount of cost of goods

Where are short-term bank loans reported on the statement of cash flows?

The cash inflows from new short-term bank loans and the cash
outflows to repay the principal amount of short-term bank loans are
reported in the financing activities section of the statement of
cash flows. This is also true for long-term bank loans. The
interest payments for short-term and long-term bank loans are
reported in the

Why are sales a credit?

The account Sales is credited because a corporations sales of
products will cause its stockholders equity to increase. A sole
proprietorships sales will cause the owners equity to increase. The
Sales account is used in order to keep a tally of the sales made
during an accounting year. However, when the accounting year is
completed,

What is a sole proprietorship?

A sole proprietorship is a form of business organization that
is owned by one person. The owner is referred to as a sole
proprietor. In accounting, the balance sheet of the sole
proprietorship reflects the accounting equation: Assets =
Liabilities + Owners Equity. Owners Equity consists of the owners
capital account and also a drawing

Which date is used to record a credit card transaction?

When a business uses its credit card, the transaction date is
the date the credit card is used, not the date that the credit card
statement is paid. For example, if a business uses its credit card
to purchase an asset on December 30, both the asset and the
liability to the credit card company

Where can I find the amount of income taxes paid by a corporation?

You can find the amount of income taxes paid by a corporation
by reading its statement of cash flows and its notes to the
financial statements. US GAAP requires corporations to report the
amount of income taxes paid. The AICPAs Accounting Trend and
Techniques indicates that approximately half of the 500 large
corporations that it

What is LIFO?

LIFO is the acronym for last-in, first-out. It is a cost flow
assumption that can be used by U.S. companies in moving the costs
of products from inventory to the cost of goods sold. Under LIFO
the latest or more recent costs of products purchased (or produced)
are the first costs expensed as the cost

How do I start a petty cash fund?

To start a petty cash fund you need to open a general ledger
account entitled Petty Cash. This will be an additional cash
account that you could report either separately or have its balance
included with other cash accounts when preparing a balance sheet.
Next you need to write a check for the amount that

Exciting News for the Oil Sands Developers Group

June 1
^st will be an exciting day at the Oil Sands Developers
Group this is the day we officially welcome our new executive
director, Ken Chapman. After an extensive search, Ken joins us with
a versatile background in public policy, facilitation and
consultation. Kens extensive experience as a lawyer, a consummate
political analyst and social justice advocate has allowed him to
contribute to building thriving communities across Canada. We are
thrilled that he will be working out of the OSDG office in Fort
McMurray to help build a flourishing oil sands community for the
people who live, work and play in Wood Buffalo. His primary focus
will be facilitating collaboration between OSDG and our key
stakeholders in the region. Im looking forward to getting to know
him while we continue finding solutions to the issues surrounding
oil sands development. Please join me in welcoming Ken!

Most popular accounting questions from 2011

Here are the 20 most popular posts from the Accounting Coach
Blog during 2011. New questions will be answered starting January
2012. Why does LIFO usually produce a lower gross profit than FIFO?
What is depreciation? Why is interest expense a nonoperating
expense? When do you put parentheses ( ) around a number? What
are

Humbled and Honoured

This month, Alberta Venture came out with Albertas 50 Most
Influential People of 2011 list and I was truly honoured to be
selected as one of the recipients. In the past, this list has
included prominent Albertans including Premier Ed Stelmach, Ron
Liepert and OSDGs current Executive Director, Ken Chapman. This
year is no different with people such as Stephen Harper, Patrick
Daniel and Elizabeth Cannon. The list is quite diverse with
individuals of every age and from various sectors and industries
all with one commonality; making Alberta a great place to call
home. My life in Alberta has provided me with many opportunities to
benefit this province as well as an industry that I so strongly
believe in. The article went as far as to title me an Oil Sands
Evangelist as I spend my time criss-crossing the continent in an
effort to spread affection for the oil sands. I have not found it
difficult at all to get involved with, and promote, an industry
that benefits so many. I consider my time well spent and a
contribution to my own personal growth. I am very appreciative of
this acknowledgement and Im humbled to be named among the group
that was chosen.

Why is interest expense a nonoperating expense?

Interest expense is a nonoperating expense when it is not
part of a companys main operations. For example, a retailers main
operations are the purchasing and sale of merchandise, and a
manufacturers main operations are the production and sale of
goods. Neither the retailer nor the manufacturer has as its
main operations the borrowing and

Network routing problems have been fixed

For the last few months, network routing issues have been
interfering with the connectivity of some participants. The actual
problem turned out to be a lack of sufficient memory in our router
at the PAIX in Palo Alto. Two days ago we increased the memory in
that router by a factor of four. This fixed the problem. We would
like to thank Hurricane Electric, Packet Clearing House, and CENIC
for their great technical help in diagnosing and fixing this
problem.

Isnt objectivity violated when estimates are used in bookkeeping and accounting?

The use of estimates does not necessarily violate
objectivity. If it is not possible to determine the exact amount of
an expense and/or liability within a reasonable time, estimates may
be necessary. In that situation, objectivity is met when the
estimated amounts are similar to the amounts that another
professionally-trained person would also compute with

When are expenses credited?

While general ledger expense accounts are typically debited
and have debit balances, there are times when the expense accounts
are credited. Some instances when general ledger expense accounts
are credited include: the end-of-year closing entries the reversing
entry for a previous accrual adjusting entry involving an expense
an adjusting entry to defer part of a

What is a purchase allowance?

A purchase allowance is a reduction in the buyers cost of
merchandise that it had purchased. The purchase allowance is
granted by the supplier because of a problem such as shipping the
wrong items, the incorrect quantity, flaws in the goods, etc. In
the case of a purchase allowance, the buyer does not return
the

What are cost flow assumptions?

The phrase cost flow assumptions often refers to the methods
available for moving the costs of a companys products from its
inventory to its cost of goods sold. In the U.S. the cost flow
assumptions include FIFO, LIFO, and average. (If specific
identification is used, there is no need to make an assumption.)
FIFO, LIFO,

What is the difference between the direct method and the indirect method for the statement of cash flows?

The main difference between the direct method and the
indirect method involves the cash flows from operating activities,
the first section of the statement of cash flows. (There is no
difference in the cash flows reported in the investing and
financing activities sections.) Under the direct method, the cash
flows from operating activities will include

What is a purchase discount?

A purchase discount is a deduction that may be available to a
buyer if the buyer pays an invoice within a prescribed time. For
example, a suppliers invoice for $10,000 with the credit terms 2/10
net 30 indicates that the buyer will be allowed a purchase discount
of $200 (2% of $10,000) if the buyer

Fall Funding Drive

Our annual fall funding drive has started. If you haven't
gotten our message in your email, you can see it here. Please help
us keep SETI@home going by donating today.

BOINC download server is down.

The BOINC download server is offline, and will remain so for
a day or two while we effect repairs.

How do you divide the cost of real estate into land and building?

We will use the following example to illustrate how to divide
the cost of real estate into the cost of the land and the cost of
the building. Assume that the entire cost of a real estate purchase
is $220,000. The appraisal made at the time of the purchase
indicates that the land has a

What are payroll withholding taxes?

In the U.S. payroll withholding taxes are the taxes that an
employer is required to deduct from its employees gross wages,
salaries, bonuses, and other compensation. The typical payroll
withholding taxes include each employees portion of the Social
Security and Medicare taxes (also referred to as FICA), federal
income tax, and often state income tax.

Are depreciation, depletion and amortization similar?

In accounting the terms depreciation, depletion and
amortization often involve the movement of costs from the balance
sheet to the income statement in a systematic and logical manner.
For example, the systematic expensing of the cost of assets such as
buildings, equipment, furnishings and vehicles is known as
depreciation. The systematic expensing of the cost

What is the difference between a bookkeeper and an accounting clerk?

I envision a bookkeeper as a person employed by a smaller
company and being responsible for recording nearly all of its
transactions. Hence, the bookkeeper would likely process sales
invoices, customers remittances, purchases, payments to vendors,
payroll, monitoring receivables, preparing journal entries, and
more. I view an accounting clerk as a person employed by a

What is meant by the full cost of a product?

Many (perhaps most) accountants use the term full cost to
mean the full manufacturing or production cost of a product. To
these accountants this means a products cost of materials, labor,
and both variable and fixed manufacturing overhead. These
accountants do not include selling, administrative, or interest
costs in their definition of the full cost

What is a valuation account?

In accounting, a valuation account is usually a balance sheet
account that is used in combination with another balance sheet
account in order to report the carrying amount of an asset or
liability. An example of a valuation account that is associated
with an asset is the Allowance for Doubtful Accounts. This accounts
credit balance

What are the two methods for recording prepaid expenses?

The two methods for recording prepaid expenses have to do
with the general ledger account that is initially debited at the
time of the cash payment. The two methods or approaches are: 1.
debit an asset account (such as Prepaid Insurance) which is the
balance sheet method, or 2. debit an expense account (such
as

Why is an amount in the cash flows from investing activities shown in parenthesis?

An amount shown in parenthesis within the investing
activities section of the cash flow statement indicates that cash
was used to purchase a long-term asset. For example, if a company
spent $350,000 to purchase property, plant and equipment, it will
be reported in the cash flows from investing activities as Capital
expenditures.(350,000). The amounts appearing

What is depreciation?

Depreciation is the assigning or allocating of a plant assets
cost to expense over the accounting periods that the asset is
likely to be used. For example, if a business purchases a delivery
truck with a cost of $100,000 and it is expected to be used for 5
years, the business might have depreciation expense

New Numbers Backing Positive Economic Impacts

As my readers know, Ive been on the road for the past three
years promoting an industry that I am passionate about because it
benefits so many. A topic I am sure to highlight during my speaking
tour is the positive economic impacts of the oil sands industry. Im
pleased to tell you the Canadian Energy Research Institute (CERI)
released a report on May 16, showing oil sands production ramping
up from the current 1.7 million bpd to 2.1 million bpd by 2015, 4.8
million by 2030 and 4.9 million by 2035. What does this mean? More
money, more jobs, more contribution to the GDP than even the large
contributions previously forecast. All of this is great news. CERIs
report has two main themes: the impact of oil sands development on
Canadian provincial and national economies and the ripple effects
on U.S. state and federal economies. Over the next 25 years, $2.077
trillion will be invested in building and maintaining the oil
sands. That includes $253 billion in initial capital for
construction and $1.8 trillion for operation, maintenance and
sustaining capital. In terms of jobs, the oil sands currently
support 75,000 jobs in Canada with this growing to over 900,000 in
2035. Do the math. Thats 825,000 more jobs (both directly and
indirectly related to oil sands); 825,000 people with work, and
there is nothing that gives an individual more dignity and
self-respect than a job. It may also surprise you that our friends
to the south actually receive the second largest economic impact
from Albertas oil sands after the province itself. In the United
States, new jobs are expected to leap from 21,000 in 2010 to
465,000 by 2035. Over this 25-year period, the total GDP impact as
a result of new oil sands projects is estimated to be $2.1 trillion
for Canada, and $521 billion for the U.S. These are remarkable
numbers. This is why I am proud to be a part of Canadas dynamic oil
sands industry; an industry thats delivering large-scale economic
growth while providing reliable, affordable energy to North
American businesses and families alike. I know that our industry
will continue to play a major role in providing economic stability
through responsible development of Canadas greatest resource. If
you have any comments, please be sure to leave them for me. And, if
you want to see the full CERI report (a long but informative read),
you can do so here.

Still Going Strong

I often refer to the results of The Energy Resources
Conservation Boards (ERCB) findings in my presentations and I was
happy to see this year that the results highlighted another solid
year and a bright futurefor our industry. The report, Albertas
Reserves 2010 and Supply/Demand Outlook 2011-2020, showed over
2,300 successful oil wells were drilled in 2010 more than double
from 2009. Furthermore, according to the report, the total amount
of oil sands produced represents an 8 per cent increase since 2009
with 589 million barrels being the 2010 yearly total (i.e., on
average, 1.61 MBbl/d). These are great numbers. This means that our
industry is continuing to deliver economic benefits for the
province and across the country. And, the expectation is that these
numbers will just continue to grow. The ERCB forecasts a total of
1.3 billion barrels per year (i.e., on average, 3.56 MBbl/d) by
2020. The results underline the need for our resource to meet
growing energy demands. Since 1967 when the industry began, Alberta
has produced 7.5 billion barrels of raw crude bitumen from the oil
sands and crude oil production has produced 16 billion barrels. I
know that our industry will continue to play a key role as an
economic driver through the development of this great resource. For
more information on the report and other highlights, please visit
www.ercb.ca.