Word: guinea
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...Principe is part of a string of countries on the Gulf of Guinea, the right angle in Africa's west coast, which is the oil industry's new El Dorado. By some estimates, Africa holds 10% of the world's reserves, but that figure belies the importance West Africa has already achieved as a source of energy. According to Poisoned Wells, a new book on African oil by Nicholas Shaxson, an associate fellow with international affairs institute Chatham House in London, the U.S. imported more oil from Africa than from the Middle East in 2005, and more from the Gulf...
...demand from India and China and worries over instability in the Middle East have fueled higher oil prices, and those in turn have precipitated a new scramble for energy - oil rigs worldwide now have to be rented a year in advance. There are several reasons why the Gulf of Guinea is a key focus of this rush. African oil is high quality, with a low sulfur content that requires little refining to get it to the pump. The Gulf is relatively close to the U.S., cutting shipping costs to the world's biggest oil consumer, and most of the reserves...
...National Intelligence Council, a U.S.-government think tank, predicts that the Gulf of Guinea will supply 20-25% of total U.S. imports by 2020, but Americans are not alone in their mounting dependence upon West Africa. Angola is now China's top oil supplier. Gabon is a key supplier of France. Oilmen from countries as diverse as Russia, Japan and India are showing up in places like Equatorial Guinea, Cameroon, Chad - even perennial war zones like the Democratic Republic of Congo. With all that interest, Paul Lubeck, Michael Watts and Ronnie Lipshutz of the Center for International Policy...
Angola is following a path that's painfully familiar among African oil states from Equatorial Guinea to Sudan. The pattern is this: well-connected businessmen and unscrupulous government officials grow impossibly rich, and the ruling élite uses its wealth and largesse to consolidate its own power. Much of this money is funneled into banks and assets abroad, while the majority of the population stagnates or even grows poorer...
...come up with the next big things for the nose or taste bud, fragrance-and-flavor companies send their scientists on "scent treks." On a recent trip to Papua New Guinea, Roman Kaiser, director of smell research for Givaudan, collected more than 50 samples, including a rare hoya plant. "The scent reminds you of dark chocolate, with olfactory notes rarely found in flowers," Kaiser says. He has amassed more than 2,500 natural scents over the years and has reconstituted more than 450. To create authentic flavorings, Givaudan's researchers go on "taste treks" to gourmet restaurants and popular street...