[color=blue:c1e38d2462]For complete text of Chronicle see http://www.wednesday-night.com/Wed1195.asp The “Greens” may frequently be right and have forced some good decisions, but the pressure from Hydro Québec to harness wind power could prove to be a mixed blessing. In addition to higher production costs (8.7 cents per kwh), the visual pollution caused by windmill farms is considered by some to be as distasteful as the pollution caused by other sources of energy, although they certainly do not generate the environmental devastation of huge hydro projects. Those rejecting this admittedly cleaner power source, prefer a strategy of price as a deterrent in an admittedly flexible market, citing the gasoline prices in Europe that can range from two and a half to five times those in North America. Water meters would drastically reduce consumption, if the cost were sufficiently high. The strategy of taxing petroleum at the wellhead rather than at the pump would both reduce the overuse of petroleum domestically and in countries importing from Canada, and increase federal revenue. Unfortunately, this strategy risks retaliation on the part of the U.S. which appears to be relatively unconcerned about the effect of gas emissions and the possible influence of overconsumption on the political scene in the Middle East. China As a result of severe pressure from G-7 countries, China will start to move towards a flexible exchange rate. To this end, it is expected China will begin to tie its currency to a basket of world currencies rather than to the U.S. Dollar, as suggested by a senior Chinese official at the World Economic Forum today. This, in turn, could lead to a reduction in the purchases of U.S. Treasuries, leading to larger deficit in the U.S current account, hence a weaker U.S. dollar which could lead that country, either to a decreased trade deficit or to a disastrous financial crunch. The effect on the Chinese economy would be limited. On Feb 1, it was reported by Xinhua online that "The time wasn’t ripe for China to revalue the yuan as the country had not yet decided on a suitable foreign exchange system, domestic media reported." http://news.xinhuanet.com/english/2005-02/01/content_2534093.htm