Megan McArdle has a good post on the future of the Iraqi oil industry and why oil-rich countries tend to be illiberal (my wording, not hers). Both her insights and the comments on her post are worth reading, as is the Washington Post article she references.
Bravo! to Susan Lee for her articulation of the important distinctions between conservatism and libertarianism, particularly in cultural dimensions. An excerpt: To push my argument further, libertarian thought, with its fluid cultural matrix, offers a better response to some of the knottiest problems of society. It is, especially when contrasted with the conservative cultural matrix, …
Data on OPEC’s January production from Platts shows that production went up by 500,000 barrels/day. Not enough to compensate for Venezuela’s lack of production, thus the price rise from around $32 to around $35.
Upon the completion of her first knitted sock, Bonne Marie Burns asks “what the heck does *gusset* mean anyway?” gusset n. A triangular piece of material let into a garment to strengthen or to enlarge some part, esp. in order to afford ease in movement. One of the usage examples they offer is splendid: c1570 …
According to the OED: calyx n. The whorl of leaves (sepals), either separate or grown together, and usually green, forming the outer envelope in which the flower is enclosed while yet in the bud. corolla n. The whorl of leaves (petals) either separate or grown together, forming the inner envelope of the flower, and generally …
I heartily second Megan McArdle’s recommendation for Valentine’s flowers. I have often bought flowers from Calyx and Corolla for my parents and grandmother. In fact, for her birthday this year I sent my mother a bouquet from another company, but in a lovely Waterford vase, and while she liked it she said that she wouldn’t …
BP has committed to invest $6.75 billion in a new Russian oil company, the largest foreign investment ever in Russia. This investment, with two Russian partners, will create Russia’s third largest oil company, and will complement BP’s planned investment over the next five years: more than $20 billion developing projects in the U.S. Gulf of …
BP Invests In Russian Oil: Russia Friendly For Foreign Investment? Read More »
Alexi Barrionuevo has written an insightful and informative profile of Venezuela’s national oil company in Monday’s Wall Street Journal (subscription required). He goes through the history of the company, PdVSA, and how Chavez’s opposition to it influenced his initial coup and run for presidential office. An excerpt: For 30 years, Rogelio Lozada was the sort …
According to this Reuters story from 1 February, the Iraqi opposition is thinking about how to encourage investment in Iraq’s oil industry if Saddam Hussein is deposed. An excerpt: While Iraq has huge oil reserves, they remain under-developed because U.N.-imposed sanctions have blocked the foreign investment needed to exploit them at full capacity. The group …
Here are some recent articles on oil and gasoline price increases due to the cold weather and anticipated military action in Iraq, from Forbes, Oil and Gas Journal, CNN, and the Houston Chronicle.
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