Word: petroleum
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...shadow over its mostly optimistic outlook. On the motored canoe ride from Coca to the lodge, several major worksites reveal the presence of oil operations in the region; barges laden with trucks drift by. Oil has been instrumental in Ecuador’s expanding economy, but pursuit of petroleum increasingly puts at risk the country’s most vast and irreplaceable resource—the rainforest...
...Iranian threat - if Russia would help bring Iran into compliance with its international nuclear obligations. Back home, Ross has persuaded Howard Berman, the top Democrat on the House Foreign Relations Committee, to flip positions and introduce a bill that would impose a ban on the sale of refined petroleum to Iran...
...particularly concerned about the nation's image because of the bottom line. In 2008, foreign tourists spent $13.3 billion in Mexico, the third biggest source of foreign income after remittances and oil exports. This year all three of these moneymakers are being clobbered. While the price of petroleum nose-dived with the crisis, the recession north of the border pushed Mexican remittances down 18.6% in April compared with the same time last year. To add to these woes, Mexico's manufacturing sector has been battered by a drop in spending in the U.S. In total, the Mexican government predicts...
...China Petroleum (PTR) is buying 45.5% of Singapore Petroleum for just over $1 billion and will probably move to purchase the balance of the company. China recently proposed a deal to lend $10 billion to Brazilian oil giant Petrobras to help it develop deep sea crude deposits. In exchange, the world's most populous nation has negotiated getting a steady flow of oil from Brazil at market prices...
...question of whether some assets are too important to allow China to buy puts the interests of Congress against the interests of shareholders. PetroChina is paying a 24% premium to buy its new stake in Singapore Petroleum. If a Chinese firm offered a similar premium to buy a US-based energy or refining operation, would Congress block the deal? If the 3Com transaction is any indication, potential shareholder profits would be trumped by a government decision that it does not want China to have control of assets that are part of the fabric of American economic and business interests...