Many people have discovered that solar cooking and baking is more than just a science project or cleaver novelty. Cooking with the sun can be fun, but it can also saves money while decreasing your carbon footprint. Sun ovens use the free unlimited energy of the sun to cook or bake. rather than the normal. Nonrenewable energy resources, such as gas, electric, coal or wood, not only cost money, they all pollute our atmosphere, whereas the sun is free energy and pollution-free.
The main reason sun oven cooking has never become popular, America have always taken its source of gas and electric for granted plus it has always been cheap, plentiful and convenient. However, we are now becoming more aware that we are paying a big price for this nonrenewable energy, not only economically, but environmentally. “In the time it takes most people to read this sentence, the world will have used up (forever) about 8,000 barrels of oil – 336,000 gallons; at 1000 barrels per second, it's going fast.”
With growing demand and shrinking domestic production, America is importing more oil each year – much of it from the world's most unfriendly or unstable regions. We spend more than $200,000 per minute — $13 million per hour — on foreign oil, and more than $25 billion a year on Persian Gulf imports alone.”
With so much emphasis and focus placed on the claims of “Global Warming” and “Climate Change”, it is only a matter of time before the cost of electricity soars in order to offset the cost of coal-powered electrical generation plants.
The true winners in this financial and political game of chess will be the bankers and power brokers at the top of the carbon-credit pyramid. In light of current events, it would make since to for us to examine other sources of alternative energy, such as in the use of hybrid automobiles, and harnessing wind and solar energy for power to cook and bake.
The next obvious question would be which one? Which car? Which solar panel? Which heater? Which wind generator? Which solar generator? Which solar cooker or oven? The answer is related to price, quality, efficiency, convenience and durability.
The cheapest sun oven would be one that you build yourself using materials you can purchase from your local grocery store or hardware. The major factors to consider would be efficiency and durability. Regardless of the fact you can build a solar oven from cardboard and aluminum foil, these type solar ovens are not durable or efficient. Do it yourself plans are plentiful on the internet, with free plans to construct a solar oven ranging from a pizza box or dashboard fold-up reflector to modifying a old discarded satellite dish.
A parabolic cooker is very effective in reaching high cooking temperatures (400+ F), however they are heavy, bulky and expensive. They also are not designed to hold or maintain a constant cooking temperature during short periods of cloudiness.
The collapsible type reflector ovens that can be folded up are inexpensive but are not durable or efficient at reaching and maintaining higher, consistent temperatures needed for the safe cooking temperatures necessary for meat and they do not hold up well under continuous use. This characteristic explains their limited warrantees. The best, most efficient, durable and cost effective sun oven is the insulated box type with reflectors. The box-type sun ovens not only are lighter and smaller than most other styles, they reach higher effective cooking and baking temperatures and maintain them effectively.
There are several box-type reflector sun ovens available. Your needs would determine which is right for you and there are several internet sites that compare the most popular brands on the market such as Consumers Report.
Remember sun ovens are not just fun to use, but they pay for themselves in a short period of time in the energy savings. The additional benefits to sun oven cooking and baking are: reducing your carbon footprint, reducing your dependency on expensive energy and as a bonus, you are ending up with a more nutritious and better tasting food product as compared to cooking in a conventional oven. Go green, save money and the environment, go solar.
Learn the history of solar ovens, FAQ, how to build your own solar oven, discover the consumers reports and best prices: http://www.sunovenchef.com.
SHANGHAI, China–(BUSINESS WIRE)–May 18, 2005–China Foreign Exchange Trade System, a subsidiary of the People’s Bank of China, today launched its multi-bank portal built with foreign exchange technology from Reuters (LSE:RTR, Nasdaq:RTRSY), the global information company. This major project, completed on schedule, supports Reuters position as the leading provider of foreign exchange systems and technology.
China Foreign Exchange Trade System (CFETS) is the only organisation licensed to trade foreign exchange in China. CFETS member banks will benefit from a real-time, internet-based foreign exchange multi-bank portal, thereby facilitating the growth of FX trading in China. The financial institutions which have the permission to trade foreign currencies will be able to trade streaming executable FX prices contributed by 10 price making institutions. The FX prices are provided by leading global institutions namely ABN AMRO, Bank of China, Bank of Montreal, Citic, Citibank, Deutsche Bank, HSBC, ICBC, ING and the Royal Bank of Scotland.
This CFETS portal will enable China’s foreign exchange market to begin trading of eight foreign currency pairs – the U.S. dollar against the Euro, Yen, Hong Kong dollar, Sterling, Swiss franc, Australian dollar and Canadian dollar, plus the Euro versus the Yen.
CFETS’ portal is based on a customised version of Reuters Electronic Trading (RET) platform and is deployed in its data centre in Shanghai. With Reuters Electronic Trading, CFETS can now offer its member banks access to executable prices from leading global liquidity providers and thereby allow domestic financial institutions, that may otherwise not had the credit, to trade in the international currency markets.
The 10 liquidity providers contribute competitive executable prices on a ‘best bid’ and ‘best offer’ basis. CFETS also offers a full trading, settlement and clearing facilities to all its members and market makers. Domestic banks in China can leave orders, request a price or execute FX transactions with a single click for any of the non-RMB currency pairs quoted on the portal.
Mark Redwood, Managing Director, Reuters Automated Dealing Technologies, said: “Reuters is pleased to have been chosen by CFETS as their preferred supplier to customise and deliver this multi-bank portal. Reuters has not only met the tight delivery timeline set by CFETS, but also worked with the liquidity providers to ensure a successful delivery. Reuters is committed to meeting the increasing technology, connectivity and information needs of the global forex marketplace and we believe that this is just the beginning of a new era in electronic trading in China.”
Serena Wang, Managing Director, Reuters China, said: “We are very proud to be associated with CFETS’ multi-bank portal launch. This is a historic event for both Reuters and CFETS as it marks the beginning of a relationship that we hope will grow from strength to strength. CFETS customised Reuters Electronic Trading solution will enable it to expand its foreign exchange business and introduce greater transparency while providing a foundation for future growth and expansion.”
Steven Metzler, Executive Director, Technology Alliances – FX, ABN AMRO, said: “We are pleased to partner with CFETS to be one of the first international financial institution liquidity providers for this important new eFX trading platform for the Chinese market. ABN AMRO has been present in China for more than 100 years and we are committed to playing an active role in the development of China’s financial markets.”
Mr Sun Xiaofan, Chief Dealer, Bank of China, said: “Bank of China has long been an active partner of China FX Trading Centre. This time, we join each other, together with some major banks home and abroad, to launch the CFETS live trading platform, which we believe will further enhance our traditional edge in FX trading, and more importantly, provide better access to liquidity for those small and medium-sized domestic financial institutions. And, with our extensive global network and local advantages, we are also made the sole settlement bank for all the participants of this system. We will work closely with all parties of this project to ensure it is a full success. We think this will greatly contribute to the healthy development of the domestic FX market.”
Rod Jones, Executive Managing Director, International Capital Markets, Bank of Montreal, said: “The CFETS multi-bank portal will help to build a link between the domestic and overseas markets and trading in internationally traded currencies will give CFETS a very good international profile. More importantly, the liquidity from this portal will create market efficiencies and greater transparency in China.”
Ms.Wang Wenhua, GM, Treasury Department, CITIC Industrial Bank, said: “This CFETS FX trading platform will further promote the development of China’s financial market. As a liquidity provider, CITIC Industrial Bank will enhance the cooperation with member banks through this trading platform, and provide better service to our clients.”
Richard Stanley, CEO, Citigroup China, said: “This is an exciting moment and Citigroup is very pleased to participate in this project. This system will help the banks to conduct their foreign exchange activities more effectively and improve the liquidity of the foreign exchange market in China.”
Michele Wee, Vice President, Corporate & Investment Banking at Deutsche Bank, said: “The CFETS – FX platform allows liquidity providers such as Deutsche Bank to provide streaming FX prices with one-click trading, order module and RFQ functionality. This new platform will encourage development of China’s FX market and provide opportunities for both Deutsche Bank and CFETS member banks.”
Hong Gao, Vice Director, Dealing Room, International Department, Industrial and Commercial Bank of China, said: “It is our honour to help establish the domestic foreign exchange market and to be its market maker together with the top FX banks within and outside China. We’ll meet the need of its development through our business operation in the future. The launch of the interbank FX market will help to quicken the establishment of the FX market in China and help build an exchange rate mechanism for the Chinese currency.”
Alistair Reid, Managing Director, Head of Financial Markets Sales, Asia at ING, said: “With the initial introduction of eight trading pairs, we believe that in due course the system will develop further including forward contracts and other Asian currencies. The CFETS system allows banks such as ING to further develop and leverage their existing trading platforms while building a partnership relationship with customers not normally served by international banks.”
Dr Charles Q Li, Country Head China and Branch Manager, Shanghai of The Royal Bank of Scotland, said: “The new CFETS FX trading platform is part of China’s continued efforts to establish a market-driven FX rate mechanism and will provide a platform to introduce further market-based operations and products. As one of the major players in the global FX market, RBS is glad to be able to play a similar role in China’s financial centre, Shanghai and to strengthen relationships with local member banks.”
Reuters Automated Dealing Technologies business specialises in providing leading-edge technology to financial institutions and their customers to conduct FX and money-market transactions in a real-time environment. The group has provided Reuters Electronic Trading solutions to over 90 leading global financial institutions including ABN AMRO, Bank of America, Bank of New York, Dresdner Kleinwort Wasserstein, HSBC, UBS, amongst others.
Note to Editors
In February 1994, the People’s Bank of China (PBOC) decided to set up CFETS in Shanghai to meet the demands of the country’s FX administration system reform. The CFETS officially started operation on April 4 of the same year. From then, China’s interbank market has grown from small to large and has expanded its business from the mainland to Hong Kong and Macau. Its financial infrastructure improves constantly, and market operational efficiency rises with each passing day. All these historic evolutions and advances have laid a solid foundation for a national unified interbank market.
Over the past ten years, under the direct leadership of the PBOC and the SAFE, with great support from the central and local governments, and also with the joint efforts of all the market participants, the CFETS has fulfilled the obligations prescribed by the PBOC and devoted itself to establishing and improving a national unified, diversified, and highly efficient money market system. Under the guideline of using “multiple technological means and trading patterns to meet market demands of various levels”, and with respect to market principles, the CFETS carries out constant innovations of service content, service means, and market mechanisms, working hard to provide market members with qualified services. By using advanced electronic information technology, the Internet and leased line, CFETS has set up the three service platforms of trading, information and supervision. The CFETS thus plays an increasingly important role in facilitating financial institutions’ managing liquidity and adjusting capital structures; improving the RMB exchange rate forming mechanism; communicating and implementing RMB monetary policy; forming RMB exchange rates, interest rates, and yield curves; and offering online surveillance to supervisory authorities.
CFETS’ system includes interbank FX trading, RMB interbank lending and bond trading, searching and quotation of commercial paper transaction, information and supervision and surveillance. Up until the end of September 2004, the volume of the FX trading market reached USD 812.4 billion. CFETS has signed foreign currency lending agreements with 125 institutions. In the interbank credit lending and bond market, there are 1001 member organizations, and they have three spot instruments including credit lending, bond repo and spot bond. Up until the end of September 2004, the trade volume of credit lending and bond markets has reached RMB 48.4 trillion, compared to RMB 17.2 trillion in 2003. 243 institutions have signed RMB voice broking service agreements.
Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 14,500 staff in 91 countries. This includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world’s largest international multimedia news agency. In 2004, Reuters Group revenues were GBP 2.9 billion.
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