I am Steve Clemons and i have a question to ask these days its hard to filter out the noise and keep track of whats really important the bottom line tackles the big issues this issue United States its people its economy and the way it deals with the rest of the world the bottom line only on. A low im adrian figure this is counting the cost on aljazeera a look at the world of business and economics this week carving up the riches of the mediterranean could prove to be a costly mistake as a liberty as well comes up dry of Oil Companies delayed drilling could nations miss out on the oil and gas but on zob. Perus economy has tanked millions of lost their jobs as the government tries to stop the spread of the coronavirus people are desperately trying to make ends meet. At adapting to a changing economy why University Degree may no longer be the key to success for many americans. Turkey claims to have found a big store of natural gas in the black sea if it proves to be commercially viable it could be a huge relief for a nation thats dependent upon oil and gas imports but its turkeys exploration in the hotly contested east mediterranean thats raising tension with its neighbors turkey has dispatched a drilling ship flanked by naval vessels to an area off the southwestern coast of cyprus aljazeera as alex go topless takes a closer look at a regional dispute. In february 2018 and Italian Oil Company found something in the Eastern Mediterranean. A huge gas field right off the coast of cyprus this field was part of the regions vast gas deposits estimated to be as big as 3 and a half trillion cubic meters thats enough potential energy to power the United States for nearly a decade tension is mounting in the Eastern Mediterranean over these discoveries as countries vie for control in an area rich with unclaimed resources. The potential for military action is rising as neighbors forge new alliances and old wounds flare up in the regional scramble to secure Energy Rights for the coming century and beyond its no surprise the everyone in the region wants as big a piece of the pie as they can get for the most part theyve all claimed their shares egypt has started to exploit its oil and gas reserves and is now a regional exporter europe has long been wanting to cut its reliance on russian gas and the Energy Hungry trading block would be an ideal market for Eastern Mediterranean natural gas so whats the Sticking Point the main cause of friction here is cyprus and the overlapping and competing claims different groups of made over it since a bloody conflict took place in 1974 the islanders remain divided between greek and Turkish Cypriots the southern half the majority greek republic of cyprus is recognized by the United Nations the turkish republic of Northern Cyprus is not internationally recognized but its autonomy is nonetheless guaranteed by turkey relations have got so bad between the fractious neighbors the both sides of threatens military action to defend what they say are their territorial rights over the sea normally these territorial rights are defined by the Uns Convention of the law of the sea this document allocates up to 12 nautical miles from any nation sure as is territorial waters and up to 200 nautical miles as its easy to add or exclusive Economic Zone as the name suggests anything found in or under the ocean out to this distance is its own exclusively but dont like greece the republic of cyprus a most of the worlds nations turkey did not sign that un convention. Instead it has its own way of deciding limits o. B. E. Turkey uses the Continental Shelf theory which says that the countrys landmass and therefore the ease it extends under water to the very edge of the Continental Shelf using this theory they refused to accept the islands can have these they say any islands influence is only as far as 12 nautical miles these 2 calculation methods have triggered a cascade of claim and counterclaim early last year the Energy Ministers of cyprus greece egypt jordan israel and palestine all met in cairo to discuss cooperation in the setting up of the east med gas forum turkey was pointedly not invited cyprus so. Its taken steps in order to. Delineate its exclusive Economic Zones its planning in the future when it will be feasible to export its gas through a pipeline fames pipeline that to trance or israeli. If you have guys. Grace and further European Union markets its up for the contest that project is very expensive project it will be. A guest undersea pipeline in the world almost a 1000 kilometers is our highly symbolic act whether the pipeline would happen or not it shows that it is an agreement it shows that there is a strong cooperation between cyprus egypt and israel in the area turkey is feeling diplomatically isolated a left out of this emerging system of cooperation with a rapidly growing population and a reliance on imports for 90 percent of its natural gas turkey is desperate to secure its own regional supplies are refusing to acknowledge cyprus is easier said turkey does also not accept the bilateral deals cyprus has made with greece lebannon egypt and israel instead turkey has made its own deals. With this large armed forces turkey is now involved not just in Northern Syria but also in the rapidly expanding war in libya in November Turkey and un recognized government of National Court of libya signed a bilateral maritime deal the carved up a large portion of the Eastern Mediterranean between them using their Continental Shelf method they allocated themselves blocks for drilling and Gas Exploration but several of these blocks were just off the greek islands of crete and come up with us this immediately invoked heavy condemnation from greece and the International Community as not only illegal but a major destabilizing move turkeys go it alone attitude is upsetting its neighbors last december it sent armed drones to mind over exploration ships in contested waters. In may a french Aircraft Carrier conducted drills off the coast of the island where france felt turkey had encroached on an area french Oil Companies were themselves exploring in a clear message to anchor the United States announced in july that it would start training the cypriot military with so much at stake and so much wealth and security to be had the region stands to greatly benefit if everyones interests a satisfied the cypriot republic has already requested a ruling from the interNational Court of justice in the hague on its and turkeys overlapping claims and both parties have much to gain from cooperation however as it stands a single incident could unravel this tense and fragile peace triggering a cascade of events that could easily draw the region into a devastating war but could this rush for gas turn out to be a costly mirages or oil and Gas Companies put off drilling due to the coronavirus and nations turn towards renewables joining me now from budapest is thomas cosmos thomas heads the asian and African Relations Department of the put a pest based think tank antonios of Knowledge Center towers good to have you with us so trillions of dollars worth of oil and gas its a big prize for all nations in the Eastern Mediterranean but with the current economic climate and big oils desire to cut back on drilling is this just a pipe dream for a nation i would say hopes used to be very high and now they are fading away to some extent we have to see that pandemic a slowdown the economy the Global Economy oil and gas prices are low moreover there is a glutton the Global Market and Major Energy Companies such as united were total for example in oust that they are postponing their Gas Exploration operations in the region until 2021 it least snow day apply the wait and see approach if economic characterized the past 10 years. As that it kind of great natural gas hyping the. Eastern mediterranean then 2020 is definitely a breaking point and it is a question what comes afterwards. I would say that the present outlook is definitely less promising than it was a couple of years ago and previous expectations we would regard to gas projects in the region might easily fall short thats because as well one well in lebanon is patches come up dry this is a huge risk for countries in the region is minute yes well we have to see that in the past decade hundreds of 1000000000 cubic meters of natural gas reserves have been discovered in the waters of cyprus egypt and israel does a very significant warnings that will be available for a long time. It is a question if other really thorough states can join them on the way to become more relevant Gas Producers so after lengthy delays and full of hopes. Around february march this year. It was widely broadcast to start with these offshore drilling for oil and gas but within a relatively short period of time they got to very disappointing results for many years turkey has also been seeking for offshore gas reserves in the Eastern Mediterranean but has remained without major discoveries d the situation is deaf or very competitive and it is not only about economic benefits but also about geopolitics and the regional balance of power in cyprus isaf the interNational Court of justice for a ruling on overlapping claims with turkey who do you think is going to win well in general it can be said that proceedings at the interNational Court of justice might take many years but in this case this is not the most crucial factor that we need to consider instead that it should be highlighted that turkey does not recognize the republic of cyprus betrays a sort of questions according to the us that uta of the interNational Court of justice only states may appear or apply before the court if turkey would give its consent to take part. In the proceeding which the republic of cyprus initiated in december last year it would mean that turkey implicitly a recognized the republic of cyprus and this would be of course contradicting with turkeys position therefore i can hardly imagine that turkey would give its consent to be a party to these proceeding and what about the pipeline that is planned to Service Israel and cyprus the gore court theyve got to find willing buyers of course and by the time they have europes switch to renewables might make it not worth doing anyway yes this is the socalled east met pipeline project which is aimed at transporting 10000000000 cubic meters of natural gas per year to european markets from european perspective it is another project that could top european economies to diversify their guess up lies and to shift of a from russian gas and from the perspective of the signatory parties it is an attempt to cumulate their powers not only in terms of Energy Policy but also in the whole geopolitical rivalry in the Eastern Mediterranean we have to see that the economic and commercial viability of this project is seriously debated says it is rather a geo politically driven initiative on the other hand we have to see that there is a shrinking support for force if you have projects in you know in the European Union especially in the light of the European Green deal that is a key European Initiative to reach Carbon Neutrality by 2050 we have to also add that by 2030 the European Union aims to increase their share of renewables to 32 percent in its final Energy Consumption and of course the strategy course can easily undermine future gas Pipeline Projects finally thomas very little is known about turkeys black sea find how much of a game changer is that going to be for turkey well this is definitely a historic discovery from turkeys point of view since we are talking about 320000000000 cubic meter. Years which is a significant result considering that turkey has been almost fully dependent on gas imports once guess will be produced that these fields it can be a source of the transformation of turkeys guest supply structure and we did discuss turkey will be able to reduce its reliance on foreign gas what is very important to read regard to these gas discovery is a defect that it came at a very good time from turkish perspective because in the upcoming years some of turkeys long term gas contracts will expire including a contract with russias gust from for instance until last year russia was the key source of gas for turkey so now turkey will probably be able to use its new discoveries as a bargaining chip to reach more favorable contract terms when it will be of a negotiating its gas contracts for a suppliers thomas has been really good to talk to accounting across many thanks indeed for being with us thank you thank you it is my pleasure. Perus economy has shrunk by more than 30 percent as a result of the covert 19 pandemic millions of lost the jobs the government is trying to enforce measures to control the virus but people are breaking the rules as they desperately try to make ends meet i was there as money on a sanchez reports from lima. Before you have little rock arkansas over a little children a selling bamboo plants the businessman turned Street Vendor says hell do whatever he can to put food on the table for his wife and children. I had a Small Business but when the pandemic began i tried to stay home with my family and lost everything now i have no choice but to sell anything on the streets to make all the 6 or 8 dollars which is not enough for food. The deuce National Statistics institute says nearly 7000000 peruvians lost their jobs as a result of the government restrictions to prevent people from getting checked it with covert 1000 thats 40 percent of produce urban population before in the last 3 months market i would have all been asked theres so much poverty no work we have to sell whatever theres no money to eat. Businesses especially retail and services have gone bankrupt analysts say the worst recession in more than 100 years throwing a comic achievements back 10 years surely cannot be the effects of brutal its the worst recession since the 19th century the economy was shut down completely in 12 or 24. 00 regions there wasnt one covert case instead of isolating them the quarantine was also imposed on them which reveals a lack of understanding of the effects of such a measure. Since the pandemic began the government approved that aid package of nearly 36000000000. 00 to reignite the economy including tax relief sent cheap loans the government is handing out more than 200. 00 in subsidies to more than 5 and a half 1000000 corporal vs the Distribution Process is slow and inefficient and it doesnt reach everyone who needs it maybe they simply dont want it for any Historic Context including joining a war the numbers a staggering in the long term effects a huge loss of Human Capital children with education amelle nutrition problem. Well see the effects for the next 10 or 15 years since june colvin 1000 cases have doubled the worst tell you that in america to brazil in the last 2 weeks more than 100000 peruvians were infected the government we imposed curfews and banned family gatherings. They want to avoid getting infected without food on their tables the choice is tough. In the midst of an identity crisis the World Trade Organization is looking for a new director general President Trump says the w t o is broken it has been taken advantage of by the likes of china the comments were made during a tit for tat trade war one of the 8 candidates for the post is liam fox a member of the u. K. Parliament and former trade minister but hes also backed briggs it the irony of his candidacy hasnt been lost at home or abroad aljazeera is laura kyle spoke to mr fox began by asking if he was the right candidate for the job well i hope so i think the w. T. Was a Great Organization i think its got great Technical Skills i think its been great institutional memory but it doesnt apples political waves and at the moment most of the disputes in the Global Trading system are political and you can buy in Technical Support but you cant really buy in political experience and i think that is the elected politician in this race i think i can bring an understanding or how you operate at the top. Or trade on defense secretary for a g 7 country ok but what about your support for bracks that youre a strong and ardent bracks a teddy and thats going to work against you just really in the spirit unplayable ization as. Well but thats what happens but bretta doesnt it that centrist thing that the only time in my 65 bilateral that the issue really comes up is when talking to a journalist so i dont think it really matters. Because i think its not the address of the next d. J. That matters its what agenda they bring with them and whether or not they can actually carry that agenda through ok well lets have a look at some of the key challenges that are facing the World Trade Organization massive mistrust between china and the us and china china and the e. U. How would you address that but i think the i think the biggest problem with the word to use is trust i think is key a lot of members feel but they are not properly listen to the w t o the view amongst members is that small not countries that cause trouble get listened to big quantities get listened to but more so in the middle to have their voice heard so i think there is a mechanism that needs to be developed to w. To to get countries voices properly then there is of course the dispute resolution mechanism that needs to be dealt with to have a rules based system but nor mechanism to resolve disputes is very difficult then you have as you mention some of the bilateral issues between members. I would like to see them solved within the trading system but countries of course have their ability to to bring disputes bilaterally with one another they have done so in tariffs in this case i think that the in terms of the u. S. China we have to ask whether the Economic Cost of maintaining tariffs at 28 percent or so is actually going to be viable in the most corporate environment given the slump in the Global Economy and general of the way that treat disputes trade wars tend to finish this because the cost becomes too high and the parties negotiates a solution ok i mean you mention the dispute mechanism that the u. S. Of course says muzzles the highest court the apple it court some say theres some merit has gone beyond its mandate would you agree. Yeah i really do and i think thats a reasonable criticism i think you have to go back to why we created the apple of all these because the annals system was regarded as too political body was brought in to be a much more narrow definition of the of the global trade rules and states and others feel that some of the judgments taken by the outlet body went beyond that strictly that and theres a 2nd complaint which i also think is legitimate which is it takes 2 law for disputes to be resolved and if you think about that if youre a big economy and you think you have a 3 to happier headstart if you break the rules you can get a competitive advantage theres a fair chance to get might choose to do so so speeding is not tightening it up are key elements ok just one final question if i can how relevant is that in this day and age its lost international that Many International agreements on trade since 2015 well thats a very good point and i think this is a key moment for the organization the work extensions used far too much in politics i think this is an existential moment we have to recommit ourselves to the principles of a rule based multilateral system because the alternative is a free for all its the rule of the jungle where the most powerful get what they want and the rest of us get left behind that is no basis for. Trading system where at the time that has shown us we are more interdependent an interconnected than ever before and and trade is the bridge between for spirit and security and if we do not give people a chance to access prosperity through trade then we shouldnt be surprised if we get more mass migrations more radicalization and more failing states and that will be a security challenge to us all so absolutely correct this is a big chance. Now since world war 2 the belief that a University Degree was the key to success has been imprinted on to generation after generation of americans now a new Jobs Campaign promoted by the trumpet ministration in partnership with corporations and nonprofit organizations is challenging that motion with millions of americans forced off the job due to the pandemic the push to find something new may take on greater urgency on a serious natasha good name reports from chicago. At the end of his 10 hour work day camille the benedict is tired and dirty. Yet since he shed his scrubs as a medical assistant to become a wind turbine technician 4 years ago he says hes more fulfilled on the job but 1st it was difficult you know a lot of people dont like change you get accustomed to where you are your home whatever it may be but it just takes a little pushing a usually it ends a better i am very happy that i made this choice. According to the u. S. Bureau of labor statistics the demand for wind turbine technicians is expected to surge 57 percent in the next 8 years as more people rely on wind power i dont know where to go or what to do in july the tribe administration with partners in the corporate and nonprofit sectors launched a campaign promoting skills based jobs so i found a Welding Program i got my certifications they require training but not a 4 year University Degree the goal is to steer the young unemployed and even people big career to in demand jobs the campaign is also trying to steer americans away from the deeply ingrained mindset that going to university is the best foundation to build a stable life it will be important for us to continue to advance this narrative that every role in our economy is vital that individuals can have an expected life of progress that one opportunity can move to the next opportunity and that learning and the work itself is going to weave together in a pretty strong fabric the national Jobs Campaign was in the works prior to the pandemic now the timing of its launch comes as economists at the university of chicago predict that 32 to 42 percent of coded 1000. 00 related layoffs will be permanent. Patrick clete runs the Electrical EngineeringTechnology Program at Kankakee Community college in rural illinois he says theres still a lingering stigma that working in the trades is inferior to a white collar job but he says by conducting outreach to high schools and parents people are slowly learning what his former students already know one of the main things that is going to happen is people are going to see the people in the trades havent taken much of a financial hit compared to other some of the other fields that maybe arent as required to make. They run and function at just its most basic level. Meanwhile camille but panic says given the physical demands and dangers of scaling Wind Turbines will eventually transition to another role in the Renewable Energy field and thats just what the work landscape of the future may look like for many it was time to look for Something Else experts say americans must adapt to the evolving economy by learning new skills throughout their working lives and preparing to change jobs or careers multiple times you will find solution to this hotshot a name for counting the cost. Thats our show for this week if youd like to comment on anything that youve seen you can tweet me im at a finnigan on twitter please use the hashtag a j c to see when you do or you could drop us a live counter the cost of 00 dot net is our email address and as always theres plenty more few online at aljazeera dot com slash c. T. C. That takes you straight to our web page and there youll find individual reports links even a time episodes for you to catch up. But thats it for this edition of counting the cost im Adrian Finnegan from the whole team here in doha thanks for being with us but he was on aljazeera is next. Thousands of children were removed from east timor during the indonesian occupation decades later why dont want to join the last generation if they can find a head. On aljazeera. To own their own school is the government not taking the necessary action to really address some of the structural issues we listen i still think that air travel is the safest mode of travel and to spend that we meet with global news makers and talk about the stories that matter on the soldiers 0. 0000. 000 raising their voices against Racial Injustice thousands march in washington d. C. On the anniversary of Martin Luther kings civil rights rally 57 years of. Follow one down in jordan this is out of there alive and also coming up donald trump get some