Word: saudi
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...home. Whereas in July, with futures at a record high of $147 a barrel, the daily oil earnings for Opec's 11 members stood at $4 billion, this week, with oil hovering at around $43 a barrel, the cartel's combined daily earnings stood closer to $1.2 billion. Saudi Arabia's oil minister Ali Al-Naimi said last month that Opec members needed a price range of between $60 and $80 a barrel in order to sustain their exploration and costly production. To achieve that, he recommended that the cartel, which pumps 42% of the world's oil output, makes...
...World oil prices began surging late last year partly because of the soaring demand from China and India's fast-growing economies, leading many to speculate that the world could actually run short of oil. But just as some long-planned new oil projects in Saudi Arabia and elsewhere came on line, those emerging economies began to slow, and the United States - the world's biggest energy consumer - faced its biggest economic crisis in decades. One result has been that Americans are driving less - 100 billion miles fewer in the first 10 months of this year than in the same...
...Saudi Princes or Skull and Bones or the Daughters of the American Revolution, ranks as the most traditional among us; that distinction belongs to our kids, who if they organized into a guild or a club or a denomination would have more cherished rituals than the Mormon Church or Mardi Gras...
...Furthermore, foreign occupiers wear out their welcome quickly in Afghanistan. Ask the Russians. Recall that the Soviets invaded Afghanistan in 1979 seeking to protect a threatened client regime, but an armed resistance quickly rose up calling itself the mujahideen. One outsider who aided this resistance force was a wealthy Saudi named Osama bin Laden. Our CIA supported the mujahideen as well. Russian troop strength was eventually increased up to 108,000, and vigorous offensive actions were launched in the countryside, but control could never be established. The effort became a moral and political calamity. Over a decade 13,000 Soviet...
...movies made in some lost developing country or the extremely successful Disney franchise Pirates of the Caribbean. Some gravity, however, is called for: This year alone, pirates with land bases in Somalia have attacked over 100 ships off the coast of Africa. Most notably, they have held a Saudi tanker with over 100 million dollars in oil and a Ukrainian ship full of Soviet-era tanks (the destination of which remains unknown). According to CNN, as of December 5, almost 300 crew in 14 vessels adrift at sea remained hostage to Somali pirates. Clearly, these guys are not your regular...