In The News

World Is Heading for Oil Price Shock

George Magnus August 16, 2005
Global oil prices have been gradually approaching record levels. While many analysts believe the implications of this increase are minor, there may actually be cause for concern. Increasing demands for energy, particularly from China and India, highlight a growing supply problem. The global supply of oil is not going to run out, per se, but producers will likely struggle to meet the increased...

Is Iraq War Fueling GCC's Economic Boom?

Emilie Rutledge August 12, 2005
Since the US-led invasion of Iraq in March, 2003, all six Gulf Cooperation Council (GCC) states have experienced high levels of economic growth, and the price of oil has doubled. Although the "Iraqi factor" can partly account for this upward trajectory in the price of oil, Emilie Rutledge writes that the unprecedented rise in global demand and lack of spare capacity are the more...

Iran Vows New Steps to Enrich Uranium

Thomas Fuller August 10, 2005
Iran has announced its intention to break the remaining seals on uranium-converting equipment at the Isfahan nuclear facility. The decision comes shortly after its government rejected a package of incentives offered by Europe to curtail nuclear activity. In the developing world, there appears to be more sympathy for Iran's cause. On Tuesday, led by Malaysia, developing countries of the...

Is Nuclear Diplomacy with the Mullahs Possible?

August 8, 2005
After calling an agreement drafted by European officials "unacceptable," Iran has announced its plans to resume uranium enrichment activities. Despite Tehran's claims that its nuclear program is for civilian purposes only, the general consensus is that Iran is building a bomb. If the nation succeeds in developing nuclear arms, the power structure in the Middle East would be...

Globalization Is an Anomaly and Its Time is Running Out

James Howard Kunstler August 4, 2005
While American intellectuals continue to portray globalization as a new permanent fixture of the world, writes James Howard Kunstler, the global trade fair is nearing its end. Kunstler opines that the "cheerleaders of globalization" fail to recognize that today's global economic relations are based on relative world peace and reliable supplies of cheap energy. He points to...

Chinese Company Ends Unocal Bid, Citing Political Hurdles

David Barboza August 2, 2005
The China National Offshore Oil Corporation (CNOOC) has withdrawn its takeover bid for America's Unocal, discouraged by political opposition that complicated the deal. CNOOC's offer was the largest takeover bid ever attempted by a Chinese company, and considerably larger than Chevron's competing bid, but it faced strident opposition in Washington. Set on the backdrop of a rapidly...

Finally, Washington Is Ready to Play Ball

Jonathan D. Pollack July 19, 2005
On July 9, North Korea announced its willingness to return to six-party discussions, after exiting negotiations more than a year ago. Anticipating the next round of talks, analyst Jonathan D. Pollack reviews the Bush administration's interaction with Pyongyang during "this oddest and most slow moving of crises." In the past, Washington has sought an unequivocal end to North Korea...