Word: oiling
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Russia has crafted its role by using its two most valuable assets - vast energy resources and mountains of military hardware - to cut a series of clever deals. In 2006, for example, then President Vladimir Putin flew a delegation of oil, gas and defense executives to Algeria. Putin negotiated to sell $7.5 billion worth of combat jets, missiles and tanks to the government, while Russian energy giants Gazprom and Lukoil secured key oil and gas concessions in the North African nation. And Putin offered an extra sweetener: he wrote off Algeria's near $5 billion Soviet-era debt. Then there...
...Using eco-friendly detergent kills two birds with one stone: saving the environment and wasting less money on oil. So why don’t more of us use eco-friendly detergent...
That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. Indeed, when prices spiked sharply in 2007-08, it wasn't because the planet was running out of natural resources. The problem was that there hadn't been enough investment in many sectors to produce those resources and bring them to market. The recession is making that situation worse. The amount of investment in the oil sector, for example...
...oilfields and copper mines take years to get into full production, lower investment today causes tighter supply down the road. At the same time, there is every reason to believe that emerging markets such as China and India will continue to be ever more voracious consumers of iron ore, oil and food as their economies get bigger and their citizens richer. Palm oil prices, for example, have been rising of late partly because demand from India, with its population of 1 billion, is holding up. In March, China imported a record amount of iron ore and coal, while imports...
...supply and demand conditions. This makes timing a turnaround complicated. Rogers says he expects commodities prices to be among the first to rise, out of all asset classes, when economic growth begins to return. Other experts argue against a rapid rebound, because inventories are high for commodities such as oil, and because demand for natural resources has been so thoroughly squelched in some industries that it may not fully recover anytime soon. Francisco Blanch, head of commodities research for Merrill Lynch in London, says he doesn't expect overall demand will return to 2007 levels until 2011 at the earliest...