Word: hydrocarbons
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...hydrocarbon windfall that fueled the Russian state's recent revival appears unable to offer a solution to the crisis. Russian foreign-currency reserves that stood at almost $600 billion last August have shrunk to $485 billion as the state has been forced to spend to bail out state-run banks and prevent abrupt devaluation of the weakening ruble. There is no telling if the policy has worked, though, and there's worse to come: major state-run corporations such as Gazprom and Rosneft, as well as Russia's regional governments, have accumulated debts amounting to some $448 billion that...
...Russia since Soviet times?" as Victor Tatarintsev, Russian ambassador to Iceland, noted in an interview on Russian television. More likely, this act of benevolence is being viewed as a way for Russia to help secure a bridgehead for an advance into the Arctic regions to claim the vast hydrocarbon and other mineral deposits there. Iceland also happens to possess a once vital NATO base, which has been in mothballs since 2006, and the Russians may be eyeing that as well...
...peace." He tried to remind Europeans that "America is a force for good. America is a force for liberty. America is a force to fight disease." He even conceded - this from a Texas oilman - that the rich nations of the world would have to "transfer out of the hydrocarbon economy...
...blanket visa approval as signaling a thaw in relations, rather than simply a necessary move to remain onside with European soccer authorities. This week, Russian security offficials again raided the Moscow headquarters of the British oil company BP, whose operation and holdings in Russia are coveted by Russia's hydrocarbon state...
...crunch? Prices for rice, wheat, corn and soybeans have soared in the last ten months as rising oil prices drove up food production costs: from the fuel to power farm machinery, to the hydrocarbon-based fertilizers, to the gasoline needed to transport food to stores. At the same time, demand for grains has grown as developed countries produce more biofuels from food-crop feedstocks, and as people in China and India take advantage of their rapid income growth and start eating more meat (which requires more grain to feed more animals). Add to that a few short-term weather shocks...