Word: hydro
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Dates: during 2000-2009
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Lugo sees the electricity deals as one solution. Rising demand has created an energy crisis in South America, especially in growing economies like Brazil; and Paraguay's hydro-electric dams on the Parana River provide one of the nation's most valuable commodities (and almost two-thirds of its GDP). The market value of the electricity Paraguay sells to Brazil and Argentina each year is estimated to be more than $3 billion; but Paraguay receives less than $1 billion for it. Lugo wants to renegotiate that arrangement, and many if not most Paraguayans back him. "We've been robbed...
...parliament. As long as we can maintain - which we have demonstrated we could - the level of security that exists. What they did in February - on the de-baathification law, on establishing the provincial elections, on reconciliation - are major steps forward. And if they can complete the job on the hydro-carbon law, I think we have a chance to gradually withdraw, turn over the security to the Iraqi troops, of which we now have 500,000 trained and in uniform. Then we will have accomplished the goal of a fledgling democracy in the Middle East...
Smeraldi put the rise down to a controversial government decision to license two hydro-electric dams on the Madeira river, the longest tributary of the Amazon. The dams could provide as much as 8% of Brazil's energy needs but they have been compared to China's Three Gorges project because of the potential ecological damage. Lula dismissed claims by his own environmental agency that the dams could cause serious harm to the environment and ordered a shakeup that resulted in the ousting of officials who opposed the project. The tender process went ahead last year, prompting a land grab...
...decades, Statoil and Hydro relied on the plentiful reserves on the Norwegian continental shelf for almost all their output; last year that area off the country's north and west shores accounted for more than four-fifths of the two firms' production. That bounty has made this nation of just 4.6 million people rich. Government taxes on the country's oil business--Norway is the world's fifth largest exporter by volume--have helped bloat Norway's national pension fund to around $350 billion. But those good times couldn't last forever. With fields beginning to dry up, oil production...
...however, the company must also focus on investigating those suspect payments in Libya and limiting the damage if wrongdoing is uncovered. On Oct. 4, Hydro said it had contacted Okokrim, the Norwegian national authority that investigates economic crime, after an initial probe suggested Hydro had done more business with the consultancy than was previously thought. Packed into a room with reporters in Molde, a short drive and ferry trip from Nyhamna, StatoilHydro's new boss Lund scoffed at any talk that the revelations might disrupt the smooth integration of the two firms. "I'm the strongest guarantor for that...