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...Most notably, the company has agreed to a 2.5% ownership stake in the mine for a group of local landowners, although many others say they have been iced out of the deal. "For Chinese and Papua New Guineans, who are from such different cultures, it will naturally take some time for us to truly understand each other, and sometimes it is not easy," says Wu Xuefeng, deputy general manager at Ramu NiCo. "Our proposal to tackle all these challenges is to address them within our overall sustainability development framework, [and] we are glad that we have been improving along...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...Clinton deserves high praise for having publicly said what no U.S. diplomat heretofore has had the sand to say: If Osama bin Laden and his confederates are indeed in Pakistan, the government there is not doing enough to help find them and bring them to justice. And she said it while she was in Pakistan! Tracy Leverton Vienna...

Author: /time Magazine | Title: Inbox | 12/7/2009 | See Source »

...believe that Iraq's untapped oil reserves total at least 115 billion barrels - the third largest in the world. When fully developed, Iraq's oil industry could significantly boost global crude supplies and even bring down oil prices. Tapping Iraq's oil is an industry event of historic proportions, says Alex Munton, a Middle East analyst at global energy consultancy Wood Mackenzie. "There are very few examples in history you can point to and say, 'A similar thing happened there,' because there really have not been any," he says. After a flurry of initial oil field - development deals were completed...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

...industry and for world supply," he said. Even though Total dropped its bid in June for one of Iraq's fields, it is now considering several others on offer in a second round of bids, which Iraq's government has scheduled for mid-December; Iraqi oil officials say they expect about 45 companies to compete for 15 fields. Says Darricarrère: "It is difficult for any major oil company not to be in Iraq...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

Clinton deserves high praise for having publicly said what no U.S. diplomat heretofore has had the sand to say: If Osama bin Laden and his confederates are indeed in Pakistan, the government there is not doing enough to help find them and bring them to justice. And she said it in Pakistan. Tracy Leverton, VIENNA...

Author: /time Magazine | Title: Give 'Em Hell, Hillary | 12/7/2009 | See Source »

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