In The News

The $40-a-Barrel Mistake

Edward L. Morse May 25, 2004
The ever-swelling prices for crude oil worldwide have many consumers and governments concerned. The authors of this article – a former US energy official and an oil adviser to Saudi Arabia – attribute the problems to ineffective policies pursued by the United States and Saudi Arabia over the past year. According to them, the initial catalyst for these policy decisions was the 2003-2003 Venezuelan...

A Change in the Climate

Vanessa Houlder May 19, 2004
The efficacy of the 1997 Kyoto environmental treaty, designed to limit greenhouse gas emissions worldwide, hangs on Russia’s actions in the coming months. The protocol requires the participation of 55 percent of industrialized nations, and without Russian support, it lacks a deciding vote. Internal debate in Russia has focused the potential economic impacts on its struggling economy; those in...

World Set Back 10 Years by Bush's New World Order, Says Blair Aide

Paul Brown April 14, 2004
In a recent statement, the British prime minister's senior advisor Jonathan Porritt says US President George W. Bush has had a "devastating impact" on the world's work on sustainable development. Porrit accused the Bush administration's bad policies in a wide range of issues related to sustainable development, including climate change, international aid, family planning,...

World Trade Growth Picks Up Speed

April 5, 2004
The World Trade Organization (WTO) is reporting a 4.5 percent increase in trade in 2003, up 1.5 percent from their original cautious estimate. The gains are due, analysts say, to the partial recovery of the American economy and very strong growth in Asia and the post-Soviet states. China alone saw a 40% increase in merchandise imports and a 35% increase in exports. Numbers for 2004 are looking...

Australia's Greedy Oil Deals in East Timor

April 1, 2004
Ownership and control of the rich gas fields in the East Timor Sea – the subject of recent bilateral discussions between Australia and East Timor – provides a "harsh" but valuable lesson in international relations, says this editorial in Thailand's The Nation. Australia played a critical role in ending violence in East Timor and in ensuring the country's independence from...

OPEC Heayweights Back Production Cut

Carola Hoyos March 30, 2004
Saudi Arabia, the leading oil-producing nation, wants the Organization of Petroleum Exporting Countries to cut oil production by 1 million barrels per day in April. Fears of an oversupplied market, seasonal drop in demand, and US stock-building have motivated Saudi Arabia's position. Venezuela, Algeria, Libya and other members of OPEC also support the production cut. Kuwait, however, wants...

Shell Withheld Reserves Data to Aid Nigeria

Jeff Gerth March 19, 2004
Shell Oil recently downgraded its oil reserve estimates by 20%, sending the company's stock spiraling and investors panicking. Now, reports indicate that Shell's revisions include a downgrading of its Nigerian reserves by 60% - a diminution the company has kept "confidential in view of host country sensitivities." The fragile Nigerian government, which depends on oil export...