Word: petroleum
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...short plan contained in “Out of Iraq” does have its provocative parts. McGovern and Polk call for releasing all prisoners of war and closing of all detention centers, withdrawing American forces from the Green Zone, and allowing the Iraqi government to void petroleum contracts signed by the American-run government. But the plan quickly slides into clichés, advocating such things as more funding for Iraqi civil society, more humanitarian assistance, and a greater role for intergovernmental institutions...
...Another is the growing ill will among Ecuadorans toward foreign and U.S. firms like Occidental Petroleum, which recently had its operating contract in Ecuador revoked and $1 billion of its assets there seized for what the government called "unethical and illegal actions." (Occidental denies the charges.) What's more, Correa has pledged to kill free-trade talks with the U.S.; he has threatened to freeze Ecuador's foreign debt payments and says the country's economy should not "indefinitely" remain dollarized. (Ecuador switched its currency to the dollar in 2000.) Says Michael Shifter of the Inter-American Dialogue think tank...
...grease for more than its infamous deep-fried selections. “It’s a cheaper, smarter, and cleaner way to use our resources,” Michael Y. Wu ’10 said. “It’s not like the petroleum is going into my stomach, so it works,” Lauren M. Weiss ’10 said...
Having vanquished Venezuela's political establishment, Chvez has set his sights on bigger targets. Exploiting the fact that the U.S. gets about 15% of its foreign oil from Venezuela, he pushed the Organization of Petroleum Exporting Countries, of which Venezuela is a founding member, to pump up crude prices. In 1998, Venezuela's state-run oil monopoly, PDVSA, earned less than $14 billion in export revenue; this year it is expected to rake in almost $40 billion. In 2002 the White House was widely perceived to have backed a failed coup attempt against Chvez. (The Bush Administration denies...
...supplies of petroleum become scarcer and more costly, the notion of hydrogen-powered cars becomes more appealing. Hydrogen provides a tremendous boom for its bang: burning hydrogen releases more energy per pound of fuel than any other material on earth. Spurred by the key invention of the fuel cell, which allows for a controlled consumption instead of a rocket-launching burn, automobile manufacturers have developed concepts for hydrogen-powered cars, touting their vehicles as the future of transportation. Last week, for instance, General Motors announced that it will place 100 hydrogen-fueled cars on the road next year, with...