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Dates: during 2000-2009
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...Billions of dollars - and Iraq's future - are at stake. Virtually all the revenues Iraq has to rebuild its shattered economy will come from its mammoth energy deposits - some of the world's biggest untapped reserves - of about 115 billion barrels of oil and about 110 trillion cubic feet of natural gas. In addition, Iraq's major creditors have made clear they expect a working oil industry, as a precondition for forgiving billions of dollars in Iraqi debt incurred largely by Saddam Hussein's wars against Iran and Kuwait and by his mega-splurging at home...

Author: /time Magazine | Title: Troubles for the Iraq Oil Deal | 2/28/2007 | See Source »

...that include U.S. oil companies Chevron, ConocoPhillips and Hess. By spring, about 1 million bbl. a day will move down the pipe, and BP could increase that soon after to about 1.5 million bbl. a day. A parallel BP pipeline opened last month to send hundreds of billions of cubic feet of natural gas from the Caspian to Western Europe, in order to break the Continent's overwhelming reliance on Russia...

Author: /time Magazine | Title: Oil's Vital New Power | 1/12/2007 | See Source »

...Whichever companies arrive, their finds could be massive. The country sits atop about 115 billion barrels of oil reserves - the fourth largest in the world after Saudi Arabia, Canada and Iran - and about 110 trillion cubic feet of natural gas. What is more, much of the oil is relatively easy to reach and cheap to pipe out. There is a catch, however: the infrastructure is in dire shape. Even before this war, rigs and wells had lain rotting for years, since the crippling war with Iran in the 1980s sapped the economy and international sanctions in the 1990s left Iraq...

Author: /time Magazine | Title: A New Oil Plan for Iraq | 1/11/2007 | See Source »

...under his thrall. This year, however, the focus is Belarus, the nouvelle Stalinist state run by Alexander Lukashenko, a man who has tried to appear to be Putin's acolyte. On Jan. 1, unless Belarus agrees to pay double what it used to for Russian gas ($105 per 1000 cubic meters instead of the current $46), Moscow will cut off gas supplies and leave its erstwhile ally in the cold. Other observers believe something more shadowy than a pure grab for more money is in the works: a reincorporation of Belarus into a reconfigured Russian Federation. "It does feel like...

Author: /time Magazine | Title: Belarus Heads Toward a New Year's Face-off With Putin | 12/28/2006 | See Source »

...have a problem," says Paul Brachfeld, a former Secret Service agent who's the Archive's inspector general. Just how big the problem is, however, is something nobody really knows. The National Archives has about 10 billion documents that take up 28.4 million cubic feet in three dozen facilities around the country, plus another 543,000 assorted artifacts like paintings and mementos. "We don't know what's missing here because we don't know what we have," Brachfeld told TIME. "We obviously know we have the Declaration of Independence. But there is such a volume of documents here that...

Author: /time Magazine | Title: On the Trail of Pilfered History | 12/21/2006 | See Source »

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