Word: barrelers
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...prices have passed $50 a barrel, and fears abound that they're headed higher over the long term. What's next for oil, and what might higher prices mean for the global economy? To find out, AMY FELDMAN debriefed DANIEL YERGIN, one of the world's foremost oil experts. Yergin, 58, is chairman of Cambridge Energy Research Associates, a member of the Secretary of Energy's advisory board and author of the Pulitzer prizewinning book The Prize: The Epic Quest for Oil, Money and Power...
...entered a new era of oil prices. It sneaked up on people, but now it's all too evident. There is a new floor under the price of oil of around $40 a barrel. I'm struck that the oil market today is tighter than it was on the eve of the 1973 crisis. And with markets this tight, you'll see a lot more volatility, and you could see prices spike up as high as $65 to $80. How high they go depends on geopolitics and market psychology...
...meekly accepting the make-believe re-election of deeply corrupt leaders, average citizens courageously took to the streets, demanded honest government and honest elections, and led a democratic revolution. Neither this nor the first flowering of democracy in the Middle East has been foisted upon reluctant people by the barrel of a gun; rather, it reflects the action of individuals who demanded a say in their government. Before our faith in the common man, the ability of average people, succumbs to cultured intellectual cynicism or sophisticated anti-democratic snobbery, we should pause to appreciate the beauty and promise of these...
...impoverished dancer, as an artist's model (pay: $30 a session). Instead, Guccione purchased the work of another New York photographer, who had paid Madonna $50 for a two-hour sitting in 1978. "Play boy's photos were coarse, uncomplimentary and rather like scraping the bottom of the barrel," said Guccione. Nonsense, says Playboy. Guccione offered at least $100,000 for Playboy's pictures, but the photographers turned him down. "Guccione is rattling his chains to try to get attention," said Playboy Editorial Director Arthur Kretchmer. Neither magazine would say how much it paid for the photos...
...Emirates faces some obstacles on its way to achieving its world-class ambitions. Fifty-dollars-a-barrel oil has hit the airline hard: it has instituted a wide-scale hiring freeze and delayed starting service to San Francisco and other U.S. cities. The neighborhood is getting crowded as well: the government of Abu Dhabi?next door to Dubai?has just launched not one but two carriers: Etihad Airlines and low-fare Gulf Traveller. The emirate of Sharjah last year started Air Arabia. Doha-based Qatar Airlines, meanwhile, is improving and expanding. Then there is the reality that Dubai...