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2008 Bulgarian Energy Crisis
The 2008 Bulgarian Energy Crisis was a crisis in Bulgaria. The crisis affected more than a million households, mainly in the capital Sofia but also in Burgas, Pleven, and Vratsa. As of late September 2008, the issue was not resolved. Background Bulgaria imports natural gas from Russia. It is used in combined heating plants in most Bulgarian cities in order to produce electricity during the summer months and heat during winter. In 2001, the Russian Gazprom signed an agreement with former Bulgarian Energy Minister Rumen Ovcharov which stated that Bulgaria would receive Russian gas at lower cost as a way to compensate for allowing the transfer of Russian gas through Bulgarian pipelines to other parts of Europe. Gas remained relatively cheap in Bulgaria until 2008 when Gazprom changed the terms of the contract. By then the price of gas had skyrocketed and Gazprom refused to sell cheap gas to Bulgaria. Meanwhile, a large embezzlement scandal raged in Sofia. The managing director of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chimney Sofia
A chimney is an architectural ventilation structure made of masonry, clay or metal that isolates hot toxic exhaust gases or smoke produced by a boiler, stove, furnace, incinerator, or fireplace from human living areas. Chimneys are typically vertical, or as near as possible to vertical, to ensure that the gases flow smoothly, drawing air into the combustion in what is known as the stack, or chimney effect. The space inside a chimney is called the ''flue''. Chimneys are adjacent to large industrial refineries, fossil fuel combustion facilities or part of buildings, steam locomotives and ships. In the United States, the term ''smokestack industry'' refers to the environmental impacts of burning fossil fuels by industrial society, including the electric industry during its earliest history. The term ''smokestack'' (colloquially, ''stack'') is also used when referring to locomotive chimneys or ship chimneys, and the term ''funnel'' can also be used. The height of a chimn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgarian Lev
The lev ( bg, лев, plural: / , ; ISO 4217 code: BGN; numeric code: 975) is the currency of Bulgaria. In old Bulgarian the word "lev" meant "lion", the word 'lion' in the modern language is ''lаv'' (; in Bulgarian: ). The lev is divided in 100 ''stotinki'' (, singular: , ). Stotinka in Bulgarian means "a hundredth" and in fact is a translation of the French term "centime". Grammatically the word "stotinka" comes from the word "sto" (сто) - a hundred. Since 1997, the lev has been in a currency board arrangement with initially the Deutsche Mark at a fixed rate of BGL 1000 to DEM 1. After the introduction of the euro and the redenomination of the lev in 1999, this has resulted in a fixed rate to the euro of BGN 1.95583 : EUR 1. Since 2020, the lev has been a part of the European Exchange Rate Mechanism (ERM II). The lev is scheduled to be supplanted by the euro on 1 January 2024. Etymology The currency's name comes from the archaic Bulgarian word "lev," which meant "lionhtt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 In Bulgaria
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Events in the year 2008 in Bulgaria. Incumbents * President: Georgi Parvanov * Prime Minister: Sergei Stanishev Events * September – The European Commission permanently strips Bulgaria of half of the aid frozen in July over what it says is the government's failure to tackle corruption and organised crime. Deaths * 13 September – Konstantin Pavlov, screenwriter, author and poet (b. 1933). References 2000s in Bulgaria Years of the 21st century in Bulgaria Bulgaria Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 In Economics
October * October 5: **The German government moves to back troubled Hypo Real Estate with a 50 billion euro rescue plan(MarketWatch)**German Chancellor Angela Merkel announces that Germany will explicitly guarantee the deposits in banks held by its citizens(MarketWatch)* October 9: Iceland nationalises Kaupthing Bank. * October 9: IMF: World on brink of recession; prepares special loan program. * October 9: Markets down across the world; Dow Jones falls below 9,000. * October 10: Hampshire councils have £3 million invested in Icelandic banks. * October 10: Dow Jones recovers hundreds of points, before losing them in minutes. * October 10: Global markets plunge. * October 10: WTO calls meeting on trade finance and economic crisis. * October 11: G7 says "all available tools" will be used to solve crisis. * October 11: Iceland and United Kingdom in diplomatic dispute over financial crisis. * October 11: George W. Bush George Walker Bush (born July 6, 1946) is an American p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2000s Energy Crisis
From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel in 2008 dollars. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008. Commentators attributed these price increases to many factors, including Middle East tension, soaring demand from China, the falling value of the U.S. dollar, reports showing a decline in petroleum reserves, worries over peak oil, and financial speculation. For a time, geopolitical events and natural disasters had strong short-term effects on oil prices, such as North Korean missile tests, the 2006 conflict between Israel and Lebanon, worries over Iranian nuclear plans in 2006, Hurricane Katrina, and various other factors. By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession. The recession caused demand for energy to shrink in late 2008, with oil prices c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peak Oil
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price. A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions. Numerous predictions of the timing of peak oil have been made over the past century before being falsified by subsequent growth in the rate of petroleum extraction.David White, "The unmined supply of petroleum in the United States," ''Transactions of the Society of Automotive Engineers'', 1919, v.14, part 1, p.227.Daniel Yergin“There will be oil,”Wall Street Jou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Crisis
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy. In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply national electricity grids or those used as fuel in industrial development and population growth have led to a surge in the global demand for energy in recent years. In the 2000s, this new demand – together with Middle East tension, the falling value of the US dollar, dwindling oil reserves, concerns over peak oil, and oil price speculation – triggered the 2000s energy crisis, which saw the price of oil reach an all-time high of in 2008. Causes Most energy crises have been caused by localized shortages, wars and market manipulation. Some have argued that government actions like tax hikes, nationalisation of energy companies, and regulation of the energy sector, shift supply and demand of energy away from its economic equilibrium. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crisis Of 2008
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NEK EAD
Natsionalna Elektricheska Kompania EAD (NEK) ( bg, Национална електрическа компания ЕАД ; en, National Electricity Company) is a single-owned joint-stock electric company headquartered in Sofia, Bulgaria. Bulgarian Energy Holding is the holder of the capital of NEK. The main company's activities are the generation of electrical energy, purchase and sale of electrical energy, import and export of electrical energy. NEK is the owner of 30 hydro and pumped storage power plants with a total installed capacity of 2713 MW. Most of the hydropower is generated within four hydropower cascades: Belmeken-Sestrimo-Chaira; Batak, Vacha, and Dolna Arda. All are used to cover peak loads, and to regulate the grid system. NEK is a holder of hydro (HPP&PS) generation license, electricity trading license and public power supply license, all issued by SEWRC. NEK, through its branch Dams and Cascades, manages 40 dams and the total capacity of the storage res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boyko Borisov
Boyko Metodiev Borisov ( bg, Бойко Методиев Борисов, ; born 13 June 1959) is a Bulgarian politician who served as the prime minister of Bulgaria from 2009 to 2013, 2014 to 2017, and 2017 to 2021, making him Bulgaria's second-longest serving prime minister to date. Borisov was elected Mayor of Sofia in 2005. In December 2005, he was the founding chairman of the conservative political party Citizens for European Development of Bulgaria (GERB), becoming its lead candidate in the 2009 general election. Borisov led GERB to a landslide victory in 2009, defeating the incumbent Socialist Party, and resigned as mayor of Sofia to be sworn in as Prime Minister. He resigned in 2013, after nationwide protests against the government's energy policy, but after leading GERB to victory in the 2014 general election, he became Prime Minister again. His second term ended similarly to his first, after Borisov resigned in January 2017, this time following GERB's defeat in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Dimitrov
Peter may refer to: People * List of people named Peter, a list of people and fictional characters with the given name * Peter (given name) ** Saint Peter (died 60s), apostle of Jesus, leader of the early Christian Church * Peter (surname), a surname (including a list of people with the name) Culture * Peter (actor) (born 1952), stage name Shinnosuke Ikehata, Japanese dancer and actor * ''Peter'' (album), a 1993 EP by Canadian band Eric's Trip * ''Peter'' (1934 film), a 1934 film directed by Henry Koster * ''Peter'' (2021 film), Marathi language film * "Peter" (''Fringe'' episode), an episode of the television series ''Fringe'' * ''Peter'' (novel), a 1908 book by Francis Hopkinson Smith * "Peter" (short story), an 1892 short story by Willa Cather Animals * Peter, the Lord's cat, cat at Lord's Cricket Ground in London * Peter (chief mouser), Chief Mouser between 1929 and 1946 * Peter II (cat), Chief Mouser between 1946 and 1947 * Peter III (cat), Chief Mouser between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kindergartens
Kindergarten is a preschool educational approach based on playing, singing, practical activities such as drawing, and social interaction as part of the transition from home to school. Such institutions were originally made in the late 18th century in Germany, Bavaria and Alsace to serve children whose parents both worked outside home. The term was coined by German pedagogue Friedrich Fröbel, whose approach globally influenced early-years education. Today, the term is used in many countries to describe a variety of educational institutions and learning spaces for children ranging from 2 to 6 years of age, based on a variety of teaching methods. History Early years and development In 1779, Johann Friedrich Oberlin and Louise Scheppler founded in Strasbourg an early establishment for caring for and educating preschool children whose parents were absent during the day. At about the same time, in 1780, similar infant establishments were created in Bavaria. In 1802, Princess P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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