Word: petroleum
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...support of all your friends in the Middle East." In e-mails and Internet chat rooms, informal networks organize boycotts of American products, from Hollywood films to fast food. There is no sign that Arab producers will use the "oil weapon" and follow Saddam Hussein's decision to halt petroleum production to spike up world prices. Nonetheless, Arab leaders - especially those with close links to the U.S. or relations with Israel - have been quick to react, lest the anger turn to domestic unrest. In Egypt, after days of protesters chanting "Where is the Egyptian army?" the government cut off most...
...claimed to recall the Hamdis, who returned to Saudi Arabia in the early '80s, according to officials. His father might have worked in the petrochemical industry, which forms the industrial base of Baton Rouge, or at Louisiana State University, where hundreds of Saudis have taken part in a petroleum-engineering program over the years. But oil companies have not been able to find a record of Hamdi's father or mother, nor has Louisiana State...
Though Bush would later brand Iran part of the "axis of evil," the task force proposed factoring in U.S. energy needs when reviewing sanctions against Iran and Libya. In addition to Exxon Mobil, two other oil giants, Conoco and Phillips Petroleum--each a $25,000 gala donor--have long opposed the sanctions, which deprive them of markets. Conoco president Archie Dunham, an old Cheney pal, visited him March 21 to press the case. Big Oil saw the task force's proposal as a victory, though hopes of lifting sanctions were dashed last summer. Congress voted to renew them...
Security concerns aren't new, of course. Oil companies have pumped petroleum out of the Middle East for the better part of a century; they did not need to be told that the region could be dangerous. The same can be said of the insurance industry, which has been ratcheting up rates since the U.S. terror attacks, in the face of wildly higher demand for political-risk coverage. "No light bulb went off on Sept. 11," says Patricia Skold, who is head of CHUBB GROUP's political risk worldwide and has experience working for the U.S. intelligence community...
...Though Bush would later brand Iran part of the "axis of evil," the task force proposed factoring in U.S. energy needs when reviewing sanctions against Iran and Libya. In addition to Exxon Mobil, two other oil giants, Conoco and Phillips Petroleum-each a $25,000 gala donor-have long opposed the sanctions, which deprive them of markets. Conoco president Archie Dunham, an old Cheney pal, visited him March 21 to press the case. Big Oil saw the task force's proposal as a victory, though hopes of lifting sanctions were dashed last summer. Congress voted to renew them...