Word: gas
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Dates: during 2000-2009
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...those issues are crucial to both Europe and the U.S. Libya's massive reserves include more than 44 billion bbl. of oil and about 53 trillion cu. ft. (1.49 trillion cu. m) of natural gas. Some of that gas is now piped under the Mediterranean to southern Italy - a valuable alternative to the politically unreliable Russian gas supplies, on which Europe is heavily dependent. U.S. officials have previously said that Washington's renewed links with Libya have proved an important source of intelligence; the U.S. dropped its sanctions and resumed diplomatic relations in 2004, after Gaddafi publicly renounced his nuclear...
Because anyone could purchase unlimited amounts of gasoline for about 30 cents a gallon, the benefits of the gasoline subsidy, as well as subsidies for cooking gas and electricity, were overwhelmingly going to wealthier Iranians, simply because they spent more on consumption. In 2005, the World Bank estimated that 94% of Iran's energy subsidies in urban areas were benefiting the nonpoor. In other words, those who least needed their consumption subsidized were getting most of the benefits. In the run-up to the 2005 presidential elections, all the candidates across the political spectrum, including the subsequent winner Mahmoud Ahmadinejad...
Many Iranians were not happy with the new limits and prices, naturally, and several gas stations were torched in the initial days of the program. Today, fewer complaints are heard, but Iranians still use more gas than they can refine inside the country. Iran's domestic production of gasoline over the past year averaged 45 million liters a day, yet consumption has averaged 67 million liters a day, even after the rationing program was implemented. New proposals are being discussed in Iran's parliament to further limit the rationed amount, and would gain extra heft if any serious moves...
With new refineries in construction - thanks to incoming Chinese, Russian and Indian investment - Iran predicts it will be self-sufficient in gasoline production by 2013. That seems a little optimistic, but further tough talk by the U.S. on a gas embargo may just help Iran reach its long-held goal a little faster...
...border region is a valuable conduit for Burmese natural resources, which China has become increasingly dependent on. For instance, the planned route for a Chinese-financed natural-gas pipeline from western Burma to China runs near the Kokang region. That project is slated to become the biggest-ever foreign-investment commitment in Burma. As Beijing sends People's Liberation Army reinforcements to its land across from the conflict zone, it can only hope that the Burmese regime keeps a fragile peace with the various ethnic groups in other border areas. "This area has always been like a bomb waiting...