Word: summits
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When Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas sit down with other Arab leaders and U.S. Secretary of State Condoleezza Rice at a forthcoming Middle East summit in Annapolis, Md., the future of Jerusalem, a city holy to three religions, will be a constant shadow over the negotiations. Palestinians have long demanded that the eastern part of the city should be the capital of the state of which they have dreamed for decades. For Jews, who pined 2,000 years for Jerusalem, victory in the Six-Day War of 1967--and with it, control over the whole...
...STING Spanish King Juan Carlos I made headlines when he cut off a ranting Venezuelan President Hugo Chávez at a Chilean summit by saying "Why don't you shut up?" Now the comment has become a cultural phenomenon...
Saudi officials used the occasion of an OPEC summit in Riyadh in mid-November to say they could up production at any time. But that raises the pesky question of why they don't. So far, the answer from OPEC leaders has been that high prices are the fault of speculators and the falling dollar, not low production. They're not just blowing smoke. Lynn Westfall, chief economist of refiner Tesoro Corp., says there's more than enough oil for sale right now. The price pressure, he explains, "is coming from financial participants in futures markets...
...OPEC's members are not able to boost production in coming years, though, it will be impossible to keep blaming the traders as prices rise. What happens then? "If we had better data, we could hold a global summit and say, 'Gentlemen, it's nobody's fault, but we've peaked,'" says Simmons. "We've got to embrace some conservation practices that are draconian, or we will be at war with each other...
...European and Arab allies, fearful that the stalemate raises the likelihood of military confrontation before President Bush leaves office in January 2008, there was another lifeline - or straw, depending on your perspective - offered by President Mahmoud Ahmadinejad at the weekend. During a visit to Saudi Arabia for an OPEC summit, the usually provocative Iranian President told an interviewer Iran would consider an Arab proposal for offshoring its industrial uranium enrichment in a neutral country such as Switzerland...