Word: petroleum
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...from the Snohvit (Snow White in Norwegian) gas field, some 90 miles (145 km) offshore, was a beacon of promise: After 25 years of false starts, planning and construction, the first Arctic industrial oil-and-gas operation outside of Alaska was up and running. Norway's state-owned petroleum firm Statoil could finally exploit once unreachable reserves, expected to deliver an estimated $1.4 billion worth of liquefied natural gas each year for the next 25 years...
...Saddam's dictatorship, international sanctions and bloody conflict. Oil revenues, which are potentially worth $70 billion a year--virtually all of Iraq's export earnings--are desperately needed to rebuild the shattered economy and end its overwhelming dependence on Washington. And oil companies from ExxonMobil to China National Petroleum Corp. are elbowing for position...
Chaudhry Nisar Ali Khan, a former petroleum minister and close adviser to Nawaz Sharif, the Prime Minister Musharraf overthrew in 1999, tells TIME that discontent within the army is growing. Khan comes from a family of military men - his grandfather was in the army, his father was a brigadier general, his brother was a lieutenant general and he has cousins and nephews who are still serving - who tell him, he says, of "the deep simmering dissatisfaction over how the army is being used for political means." Soldiers have been told not to wear their uniforms on the street, and many...
Nestor and Cristina Kirchner, President and First Lady-Senator of Argentina, should love Venezuela's Hugo Chavez unequivocally. After all, Chavez is using Venezuela's petroleum riches to shore up Argentina's struggling economy, buying $1 billion of the country's bonds and investing $400 million in a natural gas plant to bolster Buenos Aires' energy needs. Indeed, there used to be a lot of mutual affection among the Latin American leaders, fellow leftists all. Last March, the couple played host to Chavez, and allowed him to use his visit to stage a rally against the U.S. and President Bush...
...Airplanes operate on petroleum fuel, which means they release large amounts of carbon dioxide when they fly. Commercial air travel is currently responsible for a relatively tiny part of the global carbon footprint -just 3.5% of total greenhouse gas emissions, according to the Intergovernmental Panel on Climate Change. But the unique chemistry of high-altitude jet emissions may produce an additional warming effect, while the explosive growth in air travel makes it one of the fastest-growing sources of carbon gases in the atmosphere. And unlike energy or automobiles, where carbon-free or lower-carbon alternatives already exist, even...