Organization of Petroleum-Exporting Countries
Global Emissions Are Shrinking--And It's Not Just The Recession
September 21, 2009
Over in the Financial Times today, Fiona Harvey gets a sneak peek at a new International Energy Agency report, which finds that worldwide carbon-dioxide emissions have undergone a "significant decline" this year—shrinking 2.6 percent, the steepest CO2 drop in the last four decades. Steeper even than the drop after the OPEC oil crisis in the late '70s. Okay, well, no kidding, there's a severe recession going on. Industrial output is declining.
Obama Is Making A Big Mistake In Saudi Arabia
June 02, 2009
President Obama is on his way to Saudi Arabia, and Secretary Geithner is done with his major initiative in China. In part, this is just the U.S. normalizing its relations with the rest of the world and rebuilding some basic diplomatic niceness.
Debt Man Walking
December 03, 2008
For those Americans who are not daily readers of the Financial Times, the past few months have been a crash course in the abstract and obscure instruments and arrangements that have derailed the nation's economy. From mortgage-backed securities to credit default swaps, the financial health of the country has undergone a gory public dissection.
Sue Opec? Are You Crazy?
June 19, 2008
A bit strangely, two separate op-eds appear today in the Los Angeles Times and New York Times arguing that it would be a good idea to sue OPEC for violating the Sherman Antitrust Act. Here's the crux of the matter: Unfortunately, over the years, courts have made it nearly impossible to use the act against OPEC, whose members claim they are sovereign nations and thus immune from such prosecution. But OPEC's behavior is commercial, not governmental or diplomatic. It is perfectly appropriate for Congress to remove these legal obstacles.
The End of Big Oil
February 27, 2008
When historians one day dissect the long arc of humankind's use of fossil fuels, they may very well zero in on October 9, 2006, as a turning point for Big Oil. That's when it became clear that the major oil companies--the giants that had survived numerous predicted extinctions and gone on to ever-greater profit and influence--were undergoing a tectonic shift and would either reinvent themselves or die.
Kim Murphy is a London correspondent for the Los Angeles Times. London, England One night last June, 400 A-list guests and several packs of wolvesdescended upon Althorp, the ancestral home of the late PrincessDiana. The guests--who included Orlando Bloom, Elle MacPherson, andSalman Rushdie--had been invited to attend a fund-raiser for theRaisa Gorbachev Foundation, which helps childhood cancer victims inRussia.
February 12, 2007
IF THERE WAS one thing George W. Bush and his clique were supposed to know, it was oil. That, at least, was the widespread consensus back in 2000, when Bush first sought the White House, and it was easy to understand why. Bush’s grandfather was an oilman. His father was an oilman. He himself had worked in oil. His vice presidential nominee, Dick Cheney, was the former CEO of energy giant Halliburton. His campaign’s chairman, Donald Evans, was CEO of the oil company Tom Brown.
October 18, 2004
George W. Bush and John Kerry probably differ more on energy policy than on any major issue except abortion, yet news organizations have said barely a word about their positions. Energy policy ought to be a limelight issue this election year. Congress has not passed an energy bill in more than a decade. Oil consumption and oil imports continue to rise. Natural gas prices are high and supplies are tight. Average fuel efficiency of new cars is the lowest in 15 years. The United States continues to supplicate to Persian Gulf dictators for petroleum.
December 01, 2003
In early 2002, Vice President Dick Cheney spoke to President George W. Bush from the heart. The war in Afghanistan had been an astonishing display of U.S. strength. Instead of the bloody quagmire many predicted, CIA paramilitary agents, Special Forces, and U.S. air power had teamed with Northern Alliance guerrillas to run the Taliban and Al Qaeda out of their strongholds.
August 01, 2003
Since the joint congressional committee investigating September 11 issued a censored version of its report on July 24, there's been considerable speculation about the 28 pages blanked out from the section entitled "Certain Sensitive National Security Matters." The section cites "specific sources of foreign support for some of the September 11 hijackers," which most commentators have interpreted to mean Saudi contributions to Al Qaeda-linked charities.