Word: barrell
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...boom. But recently, Arab exchanges have been hit with a double whammy. Western investors have pulled out of Arab markets to cover bad deals back home, at the same time that Western economic problems have pushed down the price of oil from its high of $145 a barrel in July to just under $100 a barrel on Monday. On Monday, Saudi Arabia's Tadawul exchange - the largest in the Arab world - dropped 6.5%, bringing this year's loss...
...Still, even amidst a global economic slowdown, the outlook for the Arab economies will remain sunny. As long as oil stays above $60 a barrel, governments won't have to cut their budgets, says John Sfakianakis, the chief economist at Saudi's SABB bank. And jitters on Wall Street could sharpen the eyes of Arab regulators for the kind of irrational exuberance that got American investors in hot water. "The unscrupulous spending of the past will be slowed in the months to come, which will have a positive impact overall," says Sfakianakis. "Many Gulf economies were growing so quickly that...
Palin’s career in Juneau mirrors McCain’s tenure in Washington. McCain pilloried former Defense Secretary Donald H. Rumsfeld’s military strategy in Iraq , scrutinized lobbyist Jack Abramoff’s dealings with Indian tribes , and railed against the pork barrel projects approved by a Republican Congress . While Palin scraped the pork barrel for federal dollars herself, she also line-item-vetoed $268 million worth of hometown projects from the state budget, or about 10 percent of state spending. These political victories have enabled the McCain campaign to sell her as a bull moose...
...Alaska is, in essence, an adjunct member of OPEC. It has four different taxes on oil, which produce more than 89% of the state's unrestricted revenue. On average, three-quarters of the value of a barrel of oil is taken by the state government before that oil is permitted to leave the state. Alaska residents each get a yearly check for about $2,000 from oil revenues, plus an additional $1,200 pushed through by Palin last year to take advantage of rising oil prices. Any sympathy the governor of Alaska expresses for folks in the lower...
...world is better off without Saddam Hussein. I believe it's clear that he had every intention to acquire and use weapons of mass destruction. I can only imagine what Saddam Hussein would be doing with the wealth he would acquire with oil at $110 and $120 a barrel. I was one of the first to point out the failure of strategy in Iraq under [former Defense Secretary Donald] Rumsfeld. I was criticized for being disloyal to the Republicans and the President. I was the first to say I would lose a campaign rather than lose a war. I supported...