Word: oiling
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After months of false starts, OPEC claims it is ready to drop production far enough to pull more money out of the pockets of the oil-consuming nations...
...cartel has been humiliated more than once as it has chopped output only to see the price of oil drop further. Since September, OPEC said it has taken four million barrels a day out of circulation. That number is in dispute. It may be smaller. But, the fact of the matter is that some of the organization's members probably did not follow the rules and cut as fast or deep as had been planned. Nations including Iran and Venezuela may need the capital too much to drop the number of barrels that they export...
...Once oil prices started to cascade from over $141 a barrel this last summer to well below $40, OPEC knew that its members would not be able to support their own economies which, in many cases rely almost entirely on income from crude sales. Russia, which is not a member of the cartel, is facing similar trouble, so the incentive to move oil back toward $70 gets greater as each day passes. (See pictures of oil...
...restaurants on the Grand Canal's south bank. Ancora is the latest to cause a stir with its all-white décor, nightly jazz sessions and Mediterranean-with-a-twist menu - try the raw tuna and avocado salad with kabayaki sauce, or the bass with olive oil and white beans...
...Kurds and forcibly displaced hundreds of thousands more, resettling the territory with Iraqi Arabs from further south. After the 1991 Gulf War, the U.S. protected a Kurdish enclave in northern Iraq, and after the 2003 invasion, the Peshmerga moved down to take control of parts of Diyala, Nineveh and oil-rich Kirkuk, all of which they claim as historically Kurdish. Iraq's new constitution promised that the future status of those areas would be settled in a referendum, after a census had been held. But the census and the referendum have yet to take place, and the government in Baghdad...