Estonia

Andrus Ansip Visits Silicon Valley

San Jose Mayor Chuck Reed welcomed Estonian PM Andrus Ansip to Silicon Valley on Friday November 30.  More >>

Chinese to Invest in Estonia

According to People's Daily Online, "Estonia welcomes China's investment in Tallinn port".  More >>

"The Singing Revolution" opens in Los Angeles December 7

The film The Singing Revolution about Estonia's independence movement from the Soviet Union in 1991 will be opening in Los Angeles December 7, 2008. For screening times in Los Angeles and around the US, click here.

Click here for trailer.

Estonia Really a Leading Producer of Oil Shale?

A recent article in EU Business claims that Estonia has plans to further "diversify energy sources and boost electricity exports to other Baltic region EU states".  It goes on to say that Estonia is the "world's leading oil shale producer".  Is this possible for such a tiny country? 

For those with little background like me in oil exploration and production, the following research reveals some surprising results:

According to a 2004/2005 published account of the US Geological survey, there are approximately 410 billion tons, or three trillion US barrels of known oil shale deposits stashed throughout the world.  The US maintains 62% of these deposits, 70% of which are under federally managed land.  Oil shale is not to be confused with "oil" or "tar sands", most of which is buried in Canada - approximately two trillion barrels worth.

Mining and refining oil sands becomes cost effective when world oil prices reach $30 / barrel, whereas refining oil shale is much more expensive and only becomes cost effective at $80 / barrel... like now.

In any case, while Estonia may only maintain 14 billion barrels of oil shale reserves, i.e., just 0.5% of the world's total, it is a leading producer at 14 million barrels annually (see figure 19 of the US Geological Survey).  Given Estonia's tiny population and it's use of oil shale to generate electricity, the Baltic country could maintain energy independence from Russia and the EU - a huge relief given how the rest of the EU is dependent upon Russia for energy needs. 

According to EU Business, "The recently modernized Soviet-built stations are the world's largest oil shale-fired electrical power facilities. They play a crucial role in Estonia's economy, making it one of the few EU states boasting electricity self-sufficiency." 
Indeed, Estonia plans on being a net exporter of electricity given it's relatively low usage and large production capacity.

Nevertheless, refining oil shale is a messy and destructive business and environmental groups are pressuring the Estonian government to stop oil shale production.

In the meantime, Jordan has tapped Estonia's production expertise.  Should the US ever feel the need to refine oil shale, Uncle Sam may one day seek help from it's tiny Baltic ally.

Former Estonian PR Blasts Communism

In an interview with NTDTV, Former Estonian Prime Minister Mart Laar sounds off on the devastating effects of communist rule and how China needs to shape up its human rights record prior to the 2008 Olympics.

"I hope awareness of the atrocities occuring in communist countries continues to grow, because when we ignore this, it's dangerous and bad for the entire free world."

Estonia: Economic Freedom, Capital Hospitality, and Globalization Rankings

 #8 in Cato Institute Economic Freedom Index; download report here.
#10 in Foreign Policy Globalization Index
#24 in Forbes Capital Hospitality Index

Estonia Opens Human Rights Center

The Human Rights Centre at the International University Audentes was opened on 12 November. The Centre is dedicated to better the understanding and protection of human rights.  More on the story here >>

The Globalization Index 2007

Worth Noting:

WASHINGTON, Oct. 22 /PRNewswire/ -- Hong Kong, Jordan, and Estonia debuted among the top 10 most globalized nations in their first year on the Globalization Index, an annual study produced by A.T. Kearney and Foreign Policy which assesses the extent to which nations are becoming more or less globally connected. The index is published in the November/December issue of Foreign Policy and is available at http://ForeignPolicy.com/globalizationindex.

Estonia Q1 Consumer Prices Rise 1.8% On Quarter, Up 5.2% On Year

(RTTNews) - Estonia Consumer Price Index - CPI gained 1.8% sequentially in the first quarter, the Statistics Estonia indicated Friday. Prices of food and non-alcoholic beverages recorded an increase of 3.0%. Price of manufactured goods gained 0.5% and service charges climbed 2.5%. On a yearly basis, consumer prices moved up 5.2% versus 4.5% in the fourth quarter

Estonia Q1 Construction Costs Surge On Higher Labor Costs

(RTTNews) - Estonia's construction price index rose 3.6% sequentially in the first quarter and climbed 15.6% from last year, the Statistics Estonia said Friday. The increase was due mainly to higher labor costs, the report said.

       

Labor cost showed an increase of 6.1% from the prior quarter for an annual rise of 17.3%. Costs of building machines rose 1.8% sequentially, while building material costs were up 2.3%. Annually these components rose 5.4% and 6.1% respectively in the first quarter.

       

Price indices for detached houses, industrial buildings and office buildings rose 3.6% each from the prior quarter. On a year-over-year basis, these indices showed increases of 15.5%, 15.9% and 15.5% respectively. The index for blocks of flats was up 3.5% on quarter, while rising 15.3% from a year ago.

       

Meanwhile, costs on repair and reconstruction work rose 3.2% on quarter and climbed 15.9% on year. Higher labor costs, with a monthly rise of 3.2% and a yearly growth of 15.9% were instrumental for the rise in repair and reconstruction costs.