Word: petroleum
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Worried about the high cost of filling up? President Bush is on the case. Last Friday he arrived in Riyadh to urge King Abdullah, the leader of the world's largest petroleum producer, Saudi Arabia, to put more oil on the market...
...tanker ship from Marseilles will pull into a specially equipped dock in Barcelona's busy port, connect to a new pipeline, and discharge a liquid cargo essential to the running of the city. The ship will not, however, be carrying oil or petroleum. It is the first of many shipments of drinking water that form part of a program to slake the thirst of this drought-plagued city. Other proposals, such as a controversial plan to divert water from the Ebro river, have pitted the Catalan capital against farmers and other cities, in a mild foretaste of the water-wars...
...suggests, China's African honeymoon appears to be over. When President Hu Jintao embarked upon his first trip there, in 2004, African nations, flush with the romance of a first date, fell over themselves in welcome. China inked deal after deal: a $2.3 billion stake in a Nigerian offshore petroleum field; a $1.5 billion pact to upgrade Ethiopia's telecom system; massive investments in Angola, now China's largest source of oil imports. China won diplomatic victories, too, getting Chad, Malawi and Senegal to switch recognition from Taipei to Beijing in just the past three years. And in 2006, Beijing...
...worries make sense. In nations like Angola and Chad, Chinese aid has allowed venal governments to ignore multinational donors seeking conditions to ensure that governments buy bread, not BMWs. In a world where easily recoverable oil is dwindling and the price has hit record highs, competition for untapped offshore petroleum in West Africa could spark conflict, with Chinese and Western firms jockeying to build new infrastructure, control ports and woo political leaders. Through its training programs for African technocrats, many of whom return from China amazed, Beijing could indeed promote its authoritarian development model to a continent where democracy still...
...terrorism-supporting countries. Northern Trust, a huge fund manager that caters to both individuals and institutions, will soon roll out investment products based on that index. A source familiar with the naughty list says both ABB, a Swiss engineering giant that does business in Iran, and the China National Petroleum Corp., which operates in Sudan, are included...