Word: developed
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...money rolling into your coffers will help expand the studio. If not, you may be stuck making grainy art-house flicks for the rest of your days. Success comes with a hefty emotional price tag: watch that your stars don't get too much adulation or they may develop a drinking problem...
Before the U.S. invasion, so resolutely opposed by President Vladimir Putin, the Russians had signed contracts to develop new fields in Iraq and produce an additional 710,000 bbl. a day. Whether a new U.S.-sanctioned Iraqi government will honor those contracts remains to be seen. But beyond gaining access to Iraq's oil fields, the Russians have little interest in seeing Iraq become a major producer on the scale of Saudi Arabia. That's because Russia is a major exporter itself, earning billions in oil revenue. Though Russia might ultimately open its spigots wider than Saudi Arabia's, which...
...long enjoyed a close trading relationship with Iraq. French oil companies have operated there for most of the past 75 years. Although no oil contracts were signed, the French and the Hussein government in the early 1990s entered into a memorandum of understanding calling for French companies to develop oil fields and produce 1 million bbl. a day. Like most of Europe, France relies on imported oil and petroleum products to meet its needs, which amount to about 2 million bbl. daily...
...short, Iraq has never come close to achieving its potential. Production peaked at 3.5 million bbl. daily in 1979. How much the new Iraq produces will turn on many variables: Whether a new government encourages foreign oil companies with the technical expertise and financial wherewithal to develop fields. Whether Iraq returns to its status as a dutiful member of OPEC and abides by the group's production quotas--or ignores them and produces whatever volume is good for Iraqi citizens. Whether Iraq forms alliances with Russia, France and China, among others, to manage production--and whether American and British companies...
...Both Bombardier and Embraer are gambling big money on ever larger regional jets. New 90-plus-seat models, the Bombardier CRJ900 (rolled out in January) and the Embraer ERJ190 (expected next year), cost each firm nearly $1 billion to develop, but might face competition from Boeing's and Airbus' smallest models. Bombardier and Embraer are also beefing up international operations, especially in jet-hungry China. Embraer last year launched a $25 million joint venture to build 50-seaters in China for that market. Bombardier is in negotiations with Chinese partners to build 70- and 90-seat jets. The fates...