You are hereiraq-war
iraq-war
Whom to blame? EU Energy Commissioner and ICE: speculators not driving oil prices
(quote)
Intercontinental Exchange is cooperating with regulators in their efforts to restrict oil trading, but the Atlanta-based company insists that speculation is not the reason for soaring prices.
The company, commonly known as ICE, operates a number of commodities trading exchanges, including a major oil futures exchange based in London.
They also made it clear they don't believe that's happening. "There is no evidence that regulators or researchers have found demonstrating that excessive speculation is driving crude oil prices," said Sarah Stashak, an ICE spokeswoman.
The cost of a barrel of crude oil has edged closer to its all-time high after OPEC president Chakib Khelil warned that oil prices “will not come down”. Ahead of a meeting with EU officials in Brussels today, he said that the cartel had done all it could to ease prices. read more »
Sound familiar? In 80s, massive oil shortage, prices soared; economies into recession; prices flattened out, in 1985, collapsed
(quote)
The world's thirst for oil is growing so quickly humanity will consume more of it this decade than over the previous hundred years. Production can't possibly keep up. And the consequences will be dire. "This surge of demand will soon begin to send shock waves through the American economy and transportation system," wrote one expert. The American interior secretary agreed.
A massive oil shortage was coming in the 1980s. Everyone knew that. But before the predicted crisis could arrive, the world was hit with one that wasn't predicted: The Iranian revolution of 1979 turned a major American ally into a major American enemy. Oil prices soared. Economies slipped into recession.
Experts were certain the age of scarcity had arrived ahead of schedule. "The cardinal issue is how vicious the struggle for energy supplies will become," the head of the CIA told a Senate committee. In the summer of 1980, the journal Foreign Affairs captured the dismal mood in an article headlined "Oil and the Decline of the West."
Then a funny thing happened. The price of oil stopped rising. Instead, it fell. And fell some more. High prices had encouraged oil companies to explore like never before and producers to open their spigots. Supply gushed onto the market.
In 1985, the price of oil collapsed.
(unquote) read more »
Reasons for invading Iraq? "Misleading", former Bush aide McClellan writes in a book and testifies
“Ideals of candor, transparency and integrity,” ... should outweigh “loyalty to an individual officeholder.” - Scott McClellan
(quote)
WASHINGTON — Scott McClellan, President Bush’s former press secretary, told the House Judiciary Committee on Friday that he had been unfairly vilified by Bush supporters for his recent book criticizing former White House colleagues over the Iraq war and their involvement in leaking the identity of an intelligence officer. Mr. McClellan, however, offered little new information in his testimony on those issues beyond what he wrote in the book, “” (PublicAffairs), which was published in May and last week topped the nonfiction best-seller list in The New York Times.
In the book, Mr. McClellan says senior White House officials misled the nation about the reasons for invading Iraq and maneuvered him into lying to the public about their roles in the leak case. The book, with Mr. McClellan’s lacerating criticism of his former colleagues, has generated a rich discussion about the obligations of political loyalty, and his appearance Friday on Capitol Hill provided another stage for that debate. The man who once regularly and seemingly by rote defended Mr. Bush in the White House press room was attacked by the committee’s ranking Republican, Representative Lamar Smith of Texas, who grilled Mr. McClellan as ferociously as any reporter had in his three years as press secretary. Committee Democrats, on the other hand, were much gentler, treating Mr. McClellan as if he were an author promoting a book in an interview. read more »
Oil prices soar, leaders gather for Saudi Arabia summit, OPEC president says output increase would be "illogical and irrational"
(quote)
Oil prices surged as some members of the Opec producers' cartel rejected demands to increase output ahead of tomorrow's meeting in Saudi Arabia to discuss soaring fuel costs. The president of Opec, Chakib Khelil, said yesterday that it would be "illogical and irrational" for it to increase output.
On Thursday oil prices fell sharply - around $5 a barrel - after Saudi Arabia announced a production hike of 200,000 barrels a day and China increased fuel prices by dropping subsidies.
But yesterday, New York's main oil futures contract, light sweet crude for July delivery, jumped $4.27 to $136.20 a barrel at one stage and in London Brent North Sea crude for August rose $3.46 to $134.46.
Venezuela initially refused to attend the meeting, but energy minister Rafael Ramirez reportedly changed his mind at the last minute after blaming speculators and the falling dollar for the high prices. Meanwhile, Iran said raising output would not curtail prices.
Saudi Arabia, the world's largest producer and the de facto leader of Opec, called the summit in the hope of easing the strains on consuming economies caused by soaring oil prices.
Charm of diplomatic optimism: EU, Britain, France, Germany, Russia & China, direct talks with Iran while Bush quick to condemn
(quote)
They are not usually used to the limelight. In fact you might imagine them blinking as they emerge into the sunshine. The political directors of the foreign policy departments of the great powers are the archetypal bureaucrats - more used to influencing policy behind closed doors, than appearing before the glare of television lights.
But in the stylish residence of the German ambassador to Iran, they took their place alongside the EU foreign policy envoy Javier Solana, in what was, not for the first time in Tehran, a rather bizarre news conference. The aim was to demonstrate the unity of the international community, in the face of Iran's nuclear programme. In the event, it showed rather the opposite.
Mr Solana's mission was to bring a new package of incentives, designed to encourage Iran to suspend the enrichment of uranium - the process the West fears could be used to make a nuclear bomb.
Diplomatic optimism
But while he was in the process of delicately explaining his offer to various Iranian officials, US President George W Bush jumped the gun, and announced that Iran had already rejected the package "out of hand".
In fact, as Mr Solana quietly explained later on, Iran has agreed to take away the ideas and think about them.
It was more than just a misunderstanding on Mr Bush's part.
What was so striking was the difference in tone. President Bush was quick to condemn the Iranian government at the earliest opportunity. read more »
European Union foreign policy chief Javier Solana denies agreement on new sanctions against Iran
(quote)
LUXEMBOURG, June 16 - European Union foreign ministers neither discussed nor agreed a new round of sanctions against Iran at a meeting on Monday, a spokeswoman for EU foreign policy chief Javier Solana said.
Asked about a statement by British Prime Minister Gordon Brown announcing new EU sanctions on Iran's financial, oil and gas sectors, the spokeswoman said: "There was no discussion of sanctions today. I know nothing about that."
"No decision has been taken today. That is the answer to your question: no decision has been taken today," said Solana when asked to clarify whether the ministers have come up with a decision on Iran. He emphasized the EU's "double track" strategy to Iran -- offer to open negotiations on the one hand and UN sanctions on the other.
(unquote)
Photo courtesy of Xinhua Agencies
Original Source: Reuters and Xinhua
Exceeds 11 million in 2007: world's refugees, half in two war zones: 2 million Iraqis & 3 million Afghans fled to Pakistan, Iran
(quote)
Conflicts in Iraq, Afghanistan drive up world refugee numbers, accounting for more than half of the world’s refugees in 2007. More than two million Iraqis have sought refuge in Syria and Jordan, and three million Afghans have fled to Pakistan and Iran, the refugee agency said. Iraq and Afghanistan are behind a rise in the number of refugees worldwide for the second year in a row.
The U.N. refugee agency says the number of people fleeing violence and repression worldwide has risen to 11.4 million, largely due to the conflicts in Iraq and Afghanistan. VOA's Sonja Pace reports from London on UNHCR's status report for 2007.
Launching the report, the U.N. High Commissioner for Refugees, Antonio Guterres, said that for the second year in a row the number of people fleeing their countries and displaced from their homes is on the rise. "We have today 11.4 million refugees worldwide, but we have 26 million people displaced within the borders of their own countries," he said.
Guterres says conflicts are largely to blame. Refugees from Iraq and Afghanistan alone make up half the world's total. The 11.4 million tally does not include the millions of Palestinians living as refugees in the Middle East and elsewhere in the world. read more »
Contact Us
RSS feed
