Word: indonesia
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...years ago, with a barrel of oil dipping to about $10, there was little interest in Southeast Asian petroleum, other than established deposits in Indonesia and Brunei. But now, global instability and rising demand from India and China have spiked oil prices to over $80 per barrel, and governments are nationalizing major fields from Russia to Venezuela. At the same time, as offshore technology improves, oil firms can hunt in deeper, tougher waters, like the Timor Gap between Australia and East Timor. So the region has exploded with oil fever. Vietnam plans to explore in seven offshore blocks, Malaysia this...
...best examples of putting black gold to good use, to manage its oil money. But noble intentions are not enough. East Timor NGOs worry that their country's oil laws are so vague that they open the door to mismanagement and skimming. A damning World Bank-Indonesia joint study earlier this year showed Indonesia was struggling to spend state funds on decent development projects...
Grimsson expressed astonishment at the paucity of geothermal generation in the United States, given that the nation sits atop the second-largest geothermal resources in the world—following only Indonesia...
...crowds of delegates around nearby televisions. The essential deadlock that has held up stronger international action on climate change - striking an acceptable balance of responsibilities between developed and developing countries - remains unbroken, and there was little evidence that would change before the next major U.N. climate conference in Bali, Indonesia, at the end of the year...
...buzzer will require innovation, and there were glimpses of the necessary creativity on Monday. Representatives from the Carbon Disclosure Project, a non-profit connected to hundreds of institutional investors controlling $41 trillion in assets, reported that major corporations have begun to increasingly act on climate change - outpacing many governments. Indonesia, the third-biggest carbon emitter after the U.S. and China, hosted a side meeting of rainforest nations, where they called for forest protections to be a larger part of Kyoto's successor agreement when negotiations start in Bali. (Deforestation is responsible roughly 20% of global carbon emissions.) "There...