Word: venezuela
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Dates: during 2000-2009
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...split hairs.) With U.S. sailors dead in a likely terrorist attack on a Navy ship in the Persian Gulf and Israel bombing Palestinian headquarters in retaliation for a Palestinian lynching of Israeli soldiers (and with Iraq threatening to suspend crude production in some wacky euro-support blackmail scheme and Venezuela mired in oil-labor troubles) there was only one commodity scarcer than confidence Thursday, and that was black gold...
...other jaw dropper was that instead of making a quick jaunt to a neighboring desert kingdom, the heads of state and their massive entourages (Saudi Arabia brought 340 people) jetted all the way to Venezuela--the only Latin American member of this exclusive club, and long a member in poor standing for consistently flouting production quotas...
...bother? Because their host had incited in OPEC's leaders a belief that their moment had arrived and that they'd better seize it. Hugo Chavez Frias, 46, the fiery nationalist President of Venezuela, saw an opportunity in the booming economies of the developed world to turn a moribund cartel back into a global economic powerhouse. Against the backdrop of soaring energy prices, which have tripled during the past two years to a high two weeks ago of $36 per bbl., Chavez took center stage in Caracas last week to proclaim OPEC's "resurrection...
...years, the combination of drought, human despoiling and fire can transform wet tropical forest into permanent savanna. So argues Bruce Nelson, an ecologist who has worked since 1979 with inpa, the Brazilian institute for the study of the Amazon. Nelson believes pre-Columbian Indians created the Gran Sabana in Venezuela, a 75,000-sq-km area of veld stretching across the southeast corner of the country, by repeated burning of the forest. As evidence, he points out that unlike neighboring natural grasslands, the Gran Sabana lacks fire-tolerant tree species. In other words, forests burned down hundreds of years...
There is mounting evidence that it may. According to an internal Ford memo in the hands of congressional investigators, the company concluded after looking into accidents in Venezuela that "the high incidence [of] vehicle rollover after a tire blowout or tread loss has not been detected for other vehicle brands," such as Toyota, GM or Chrysler. Last May, according to a confidential Firestone document obtained by TIME, Firestone officials suggested to their colleagues at Ford in Venezuela that the Explorer's suspension was a factor. Ford disagreed, as it still does...