Word: oils
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Dates: during 2000-2009
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GEOPOLITICS The Near Abroad Just as Russia won't help much on Iran, Obama will likely tell Medvedev and Putin that America's ties with Ukraine and Georgia are based on shared values - they're both democracies - and strategic interests, including the protection of vital oil and gas supply routes. To underscore that point, Biden plans to visit Kiev and Tbilisi shortly after the President's trip to Moscow. The Vice President's visit, says Blacker, will "demonstrate to the Russians that we have equities in the region." (See pictures of Joe Biden...
...also knew there was an emerging market in wood power generation. Wood may not be the most efficient energy source, but replacing a tree with a growing sapling is basically carbon neutral because the sapling sucks in more carbon dioxide per mass than a mature tree. With volatile oil prices and environmental concerns boosting interest in wood energy on both sides of the Atlantic, Strickland saw an opportunity. "We're the closest supplier to Europe and the U.S.," Strickland says. Back in Toronto, his hedge fund formed a company, Buchanan Renewable Energies (BRE), and readied an IPO. (See pictures...
...reversal in Russia's economic fortunes is particularly painful. Since 1998 - the year of Russia's last financial crisis - the economy has expanded eight-fold. As oil prices rocketed, so did the country's self-confidence. Not content with presiding over the economic boom, then President (now Prime Minister) Vladimir Putin vowed to restore his country's great power status. Talk about a partnership with the West gave way to belligerent statements about a new Cold War. In the summer of 2008, Russian tanks trundled into Georgia. In early 2009, a dispute with neighboring Ukraine led Russia...
Sustainable development needs good government. On the back of oil exports to China, Angola's economy has grown by up to 20% a year since civil war ended in 2002. But a corrupt and inept ruling party that has neglected to spread the wealth or diversify the economy means that when the good times end, as they now have, the effects are severe. Ricardo Gazel, the World Bank's representative in Angola, says Angola's GDP is likely to fall by anything from 17% to 23% in 2009. (Read: "World Bank: Crisis Hits Developing Nations Harder...
...economic revitalization. A U.N. peacekeeping force and an embargo on arms are keeping conflict at bay. Schools and hospitals have reopened. Tax receipts are up. Bureaucracy is down. U.N. sanctions on diamond and timber exports have been lifted. Liberia is attracting foreign investment in iron ore, timber, palm oil and construction. Though steel giant Arcelor Mittal recently mothballed a $1.5 billion project to reopen an iron-ore mine and rebuild a railway in the eastern interior, Liberia has signed a deal with Sime Darby of Malaysia for an $800 million, 20-year concession to a 494,000-acre...