IEA Warns U.S. Shale Boom Masks Oil Supply Threat

In 2014, major banks were fined billions for manipulating foreign exchange rates, with UBS facing the largest penalty. The US shale boom is concealing global oil supply challenges, as conflicts in the Middle East and Ukraine pose threats. Meanwhile, the US and China reached a significant climate change agreement, with the US committing to reduce greenhouse gases and China setting a carbon emissions cap for the first time.

Which bank faced the largest fine for manipulating foreign exchange rates?

• UBS

• JP Morgan

• HSBC

• Citigroup

What is one of the challenges facing the global oil supply according to the International Energy Agency?

• Overproduction in Europe

• US shale boom

• Decreasing demand in Asia

• Lack of investment in renewable energy

What geopolitical issues are mentioned as potential threats to the oil market?

• Trade wars in Asia

• Middle East turmoil and Ukraine conflict

• Economic sanctions on Russia

• Political instability in South America

By what percentage does the US aim to reduce its greenhouse gas emissions by 2025?

• 10% to 15%

• 30% to 35%

• 20% to 25%

• 26% to 28%

What significant step did China agree to take for the first time in the climate change agreement?

• Increase renewable energy production

• Ban all fossil fuel vehicles by 2030

• Set a target for capping carbon emissions

• Reduce coal consumption by 50%