Word: trillion
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...commentators, members of Congress and policymakers, including a minority within the Bush Administration, are questioning the closeness of the U.S.'s relationship with this backward, authoritarian, fundamentalist state. Maybe the 600 families that lost loved ones in 9/11 and are holding the House of Saud accountable in a $1 trillion lawsuit have a point. This July a bill to add Saudi Arabia to the U.S. list of states that sponsor terrorism garnered 191 votes in the House before going down. Some critics of Saudi Arabia are even suggesting that the U.S. invaded the wrong country and seized the wrong...
...skepticism, even inside the firm, that Prince is anything more than a seat warmer to get through this turbulent period. A quiet man and a consummate insider, Prince also faces a personal challenge: he will have to step out of his shell to lead a complex company with $1 trillion in assets spanning more than 100 countries...
...then, reaching a record 686 billion kW-h last year. Nearly a fifth of all U.S. electricity is now generated with natural gas, and 88% of all new generating plants built in the past decade use the fuel. Meanwhile, U.S. production of natural gas has remained stagnant at 19 trillion cu. ft. a year, about the same as a decade ago. But the U.S. consumed 22 trillion cu. ft., up 8% during that time. Because natural gas moves more efficiently by pipeline than tanker (for which it needs to be liquefied), the difference comes mostly from Canada. Now the Canadians...
According to Baer, the Saudis can do no right. Even when they sink a trillion dollars into U.S. banks, he sees only potential blackmail and warns of dire consequences if the money is ever withdrawn. Or when the Saudis help the U.S. by keeping a lid on oil prices, he labels the assistance nothing more than blood money. Baer argues, somewhat implausibly, that the monarchy's demise is imminent. In that event, he suggests--even more implausibly--that the U.S. seriously con-sider a military takeover of the oil fields...
...companies see value, then we should see value. It has to be good for sentiment." Some entire sectors, such as biotech (see next story), seem reignited. No, we're not reliving the frothy days of 2000, when there were almost 20,000 mergers and acquisitions valued at $1.5 trillion in Europe alone. But the long, steep decline over the past three years may have bottomed. Deal volume continued to drop slightly in the first half of this year, but early July has seen a big bounce. The turnaround has been expected. Interest rates are at historic levels (last week...