Word: oiling
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...coded language of central bankers that means inflation is a non-issue at the moment and that Europe's monetary czars are now focused on ensuring that there is enough liquidity in circulation to keep the economy moving. With prices for oil and other major commodities falling, Trichet predicts a sharp drop in the inflation rate to between 1.1% and 1.7% next year from 3.2% to 3.4% this year. "This is a very significant rejection of everything that they've said before," said Jörg Krämer, chief economist at Commerzbank. "There will be a further interest rate...
Somalia is yet another example of international failure. For the United States, the lack of interest in the country is further evidence that the Bush Administration's foreign policy is merely a quest for oil. Had the U.S. been serious about fighting terrorists and stabilising the world, Iraq would still be ruled by Saddam Hussein and Somalia would be a region under American control. Somalia is the place that supports terrorism and threatens world interests by hosting the pirates that launch attacks on one of the world's busiest trade routes. Those are real threats. That the international presence...
...environment, Alcoa believes it can mitigate the hundreds of thousands of tons of carbon dioxide a smelter emits every year. "If you compare the offset, it's six to eight times cleaner to produce here" than in a location where a smelter would get electricity from a coal- or oil-based source, says Tomas Mar Sigurdsson, general manager of Alcoa Iceland...
...poorest nations in Europe for centuries, and a smoky haze choked Reykjavik, thanks to the coal inhabitants burned during the interminable winters. In the 1930s, Icelandic engineers successfully diverted underground water to heat an elementary school, and the rest of the capital slowly followed suit. When the global oil crisis hit in the 1970s, efforts to turn this local resource into electricity - by drilling holes into underground heat pockets and reservoirs to release pressurized steam that then runs turbines - moved into high gear. Today, if it's not raining or snowing (or both), views from Reykjavik's harbor are relatively...
...emotional argument that the Kurds are using, but it's also grounded in regional self-interest - which is the Prime Minister's case against those who oppose him. Maliki has lambasted the Kurdish regional government for unilaterally signing oil deals with international companies and cutting Baghdad out of the loop, as well as opening representative offices overseas. He has also pushed back against the Kurds' attempts to extend their military presence into territory south of their regional border. "The central government thinks the Kurdish regional government behaves like a state, and the Kurds think Maliki wants to flex his muscles...