Word: petroleum
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...plastic sacks, some 88 billion of which are consumed each year in the U.S. alone, with many ending up stuck in trees, clogging roadside drains and killing the birds and sea creatures that accidentally ingest them. As legislators around the globe debate whether to tax or ban outright these petroleum-based products--which experts estimate take up to 1,000 years to decompose--celebrities have been doing their part to steer consumers down a greener path. This year's trendy eco-tote has been photographed on the arms of actresses Keira Knightley, Alicia Silverstone and Reese Witherspoon...
...minerals in Africa and elsewhere. Much of this has gone largely unnoticed. Chinese companies, for example, quietly invested $4.2 billion in Russian companies last year. But some, of course, has been decidedly noticed. The country's investments in Sudan, which increased in early July when China National Petroleum Corp. said it would spend an additional $25 million developing an offshore field there, have become a global flash point given the carnage the Khartoum government has allowed to continue in Darfur...
...Africa and elsewhere. Much of this has gone largely unnoticed. Chinese companies, for example, quietly invested a total of $4.2 billion in Russian companies last year. But some, of course, has been decidedly noticed. The country's investments in Sudan, which increased in early July when China National Petroleum Corp. said it would spend an additional $25 million developing an offshore field there, have become a global flashpoint given the carnage the Khartoum government has allowed to continue in Darfur...
Praxeres, executive director of the National Petroleum Agency, insists it won't happen. São Tomé has constructed a watertight system of oversight and transparency, he says, that will take petrol revenue out of government hands and put it under the control of an independent commission. The government has even set up an account at the Federal Reserve in the U.S. to hold all the cash that it expects to flood in. "We've learned the lessons of Africa," says Praxeres. "We have to use the money to invest in education, infrastructure and health - a future that...
ExxonMobil's official mantra is that "we are doing all we can to bring more petroleum products to market to meet growing energy needs." The numbers say otherwise, and this is a company where numbers speak louder than words. The number that matters most is return on capital employed--that is, net profits divided by what's been invested in oil rigs, pipelines, refineries, etc. ExxonMobil's ratio, 32.2% last year, is consistently the industry's best. When ExxonMobil gives more money to shareholders than it spends on capital and exploration, that means its executives can't find enough...