In The News

Plan Would Lift Saudi Oil Output

Jad Mouawad June 16, 2008
The world’s biggest oil exporter is increasing production this summer to its highest levels in history – and New York Times reporter Jad Mouawad suggests it’s a signal that Saudi Arabia is nervous about the growing furor over rising oil prices and demands for new sources of energy. Governments around the globe blame rising oil prices for hikes in food prices and increasing unrest. The Saudis...

Oil Majors Say US Restrictions Delay Iran Projects

Benoît Faucon June 12, 2008
Despite surging oil prices, companies investing in Iranian energy projects confront long delays. The US has long imposed sanctions on Iran, and as a result, it becomes more difficult to use American technology or equipment, hindering many foreign ventures in Iran. US companies once exploited legal loopholes to continue operations in Iran, but the September 11th attacks ended that strategy. The...

Distance Does Matter

Nayan Chanda June 10, 2008
As fuel and transportation costs rise, regional networks are likely to become more essential. High transport costs will slow international trade for certain products, especially those with low value-to-freight ratios, such as apparel or industrial machinery. Producers will pass increased costs on to the consumer, but the most significant changes may emerge in the supply-chain production system...

In Nigeria, Oil Wealth Delivers Grief

Salil Tripathi June 10, 2008
Overdependence on oil is dangerous for both customers and producers: The soaring price of oil derivatives and transportation brings home the danger to the customer; but some producers are not immune either, as corruption, neglect and resulting conflict take their toll. Nigeria, fifth largest producer with the Organization of the Petroleum Exporting Countries, is a case in point, explains analyst...

Act Now to Prick the Oil Price Bubble

Meghnad Desai June 6, 2008
Analysts give plenty of reasons for the price of oil to climb – including increased demand from China and India, unrest in Nigeria, conflict in the Middle East, increased costs associated with exploration, limited refinement capacities. But these events are not new or sudden and probably don’t fully account for the steep increases, explains Meghand Desai, professor with the London School of...

To Cope With Oil Shock, Emulate Japan

Dilip Hiro June 3, 2008
The world has become too dependent on oil for security and comfort. Conflicts leading to disruptions in oil supply were behind past price shocks, but the most recent shock has been largely spurred by tightening supply and rising demand from emerging economies, explains historian and journalist Dilip Hiro. Plenty of buyers, armed with cash, eye diminishing natural resources. With no short-term...

Polar Bear to Be Designated As Threatened Species

Ian Talley May 15, 2008
The Bush administration has shown little fervor for environmental protection, and only recently acknowledges that climate change has imperiled earth’s ecosystems. By designating the polar bear as a “threatened" species, President George Bush also acknowledges that thinning sea ice poses a threat to the bears’ long-term prospects for survival. Though polar bears are not yet listed as “...