Word: oil-rich
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...enjoyed the cover story on Africa's Oil. Although West Africa has the potential to be the next Persian Gulf, its oil probably won't make the region an economic powerhouse. There should be a commitment by all stakeholders to redistribute oil wealth among Africa's people. The oil-rich states should stop channeling the proceeds from oil sales into the bank accounts of the ruling élite while the majority of their citizens suffer economic stagnation and social deterioration. That pattern fuels only political instability. Oluwole Akinbi, lagos...
...Oil-rich Russia (its leaders refer to it as an "energy superstate") in some ways is reminiscent of Nigeria, as corruption and money laundering fritter away a great deal of the country's wealth. To an extent, Russia can use its vast profits to get its way. But buying influence, even in Washington (where money goes a long way), cannot match the clout the Soviet Union once enjoyed as the beacon of an ideology with broad international appeal...
...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 are out to sea - which means there's no need to construct pipelines through different nations to get the stuff to market. Equally important: unlike some other oil-rich...
...Oil-rich Venezuela's left-wing President, Hugo Chavez, is the shock jock of international politics - as he demonstrated in the U.N. General Assembly last year, when he referred to President George W. Bush as "the devil." To complement his anti-U.S. tirades, he has created a new alternative Latin American television network, Telesur - and has left free-speech advocates wringing their hands as he prepares to revoke the license of one of Venezuela's largest and most outspoken opposition networks, RCTV...
...live in Mather and you’ll score a single bedroom for three years, but good luck finding it. To say nothing of the fact that the Mather HoCo is evidently completely and totally insane. (Secession? Really? Who do you think you are? Ukraine? At least they have oil-rich pipelines. Mather has exposed pipes...