Showing posts with label petroleum. Show all posts
Showing posts with label petroleum. Show all posts

Wednesday, January 2, 2008

Crude oil hits $100/barrel; Justice launches criminal investigation of CIA destruction of videotapes; Pakistan asks UK to head Bhutto investigation...

2 January :: Crude oil prices hit record $100, before falling to $99, amid claims of high demand, violence in oil producing countries, driving prices higher; the rapidly weakening dollar is also considered to be a factor in the rising prices... US Justice Dept. launches criminal probe of CIA destruction of hundreds of hours of videotape, allegedly showing use of harsh or banned interrogation techniques; tapes had been concealed during previous inquiries, Congress also investigating... Pakistan pres. Pervez Musharraf has requested UK's Scotland Yard head investigation into assassination of opposition leader Benazir Bhutto; gov't has also said it will consider exhuming body to perform autopsy, after it was alleged gov't agents threatened doctors attempting to perform autopsy... Pakistan's parliamentary elections, slated for next week, will be postponed till 2nd half of February, with gov't saying security situation has made it impossible to hold free and fair polls... US intelligence officials have said they are not convinced that Pakistan's official explanation of Benazir Bhutto's killing is definitive, call for broader investigation with international assistance... Gray wolves in western US to lose endangered species protected status, meaning ranchers in Wyoming, or surrounding states may feel emboldened to 'cull' at will to prevent further spread of reintroduced species... On eve of Iowa caucuses, WSJ hosting "predictive" market community where users can "trade" on probability of candidates' winning; WSJ reports "On New Year's Eve, markets ranked each of Barack Obama, Hillary Clinton and John Edwards at least a 30% chance of winning", while "they have upgraded Mr. Obama's chances of winning (he's now a better than 50-50 bet), while Ms. Clinton is a clear second-favorite, with a just-under one-in-three chance of winning"; there is no clear track-record for this sort of predictive matrix in electoral politics...

Tuesday, November 20, 2007

US military to hand detained AP photographer over to Iraqis; FBI says hate crime up 7% in US; Chávez threatens $200 oil if Iran attacked...

20 November :: US military to turn over AP photographer to Iraqi authorities for prosecution, accusing him of links to terrorist groups; AP says no such links have even been demonstrated, Iraq native —who won Pulitzer Prize with team of AP photographers— was detained by US after offering shelter to people fleeing a bombing raid in Ramadi, allegedly knowing none of them; AP further says identity of alleged militants among those sheltered has never been demonstrated, calls process "a sham of due process"... FBI reports 7% rise in hate crimes across US last year, to more than 7,700 officially recognized cases nationwide; 19% are reported to have been cases where individuals were targetted for their religious beliefs... While Iowa is reported to be "up for grabs", a Wash. Post/ABC News poll shows Obama leading Democrats with 30% support, Clinton with 26%, Edwards with 22% support; the poll represents an overall gain for Obama, but also, according to the Post, "strategic gains for Obama. His support is up eight percentage points since July among voters 45 and older -- who accounted for two-thirds of Iowa caucus-goers in 2004. He also runs evenly with Clinton among women in Iowa, drawing 32 percent to her 31 percent, despite the fact that her campaign has built its effort around attracting female voters"... Hugo Chávez says oil prices will double, to $200/barrel, if the US takes military action against Iran, also calling on OPEC to drop the dollar-based pricing scheme, use "basket" of currencies; Chávez made declaration as he, Iran pres. Ahmedinejad annoucned binational joint bank, invited other OPEC members to join... Pakistan announces 8 January date for parliamentary, regional assembly elections; opposition leaders say they will boycott if emergency rule not lifted, jailed opposition figure Khan on hunger strike until ousted supreme court justices reinstated...

Monday, November 19, 2007

Blair proposes jobs plan for West Bank, Gaza; oil nears $100/barrel, fears of widespread recession; Senate bill bars telecom immunity in wiretap...

19 November :: Fmr UK PM Tony Blair, envoy for 'Quartet' —UN, US, EU, Russia— to Middle East, has proposed a sweeping economic regeneration, job-creation plan for Palestinian territories, to dissuade militancy, get territories on path to viable statehood, long-term peace; plan to include Jericho trade-park, a checkpoint-free Jordan-Jericho trade corridor, public works projects like new sewage system for beleaguered Gaza strip... Oil nearing $100/barrel, observers worry record price could cause recession in several economies around the globe; CSM report suggests OPEC, created to stabilize oil prices, has lost control of pricing due to market, political factors... US Senate committee has voted to strip telecommunications firms of immunity from prosecution for collaborating in illegal NSA wiretaps; telecoms have contended they were forced by gov't to cooperate, while critics charge the companies knowingly violated the law, aided in assault on Constitutional liberties... Transport strike deepens in France, as unions oppose Sarkozy's proposed pension reforms across nation; as more groups join work stoppages, threat of real national 'general strike' looms for president... AP reports "Everyone will feel its effects, [said Yvo de Boer, director of the UN Framework Convention on Climate Change] but global warming will hit the poorest countries hardest and will 'threaten the very survival' of some people", as UN scientists gather at Valencia IPCC talks to prepare language, agenda for Bali climate meetings...

Monday, November 12, 2007

Mukasey takes helm as AG; 4,000-year-old temple found in Peru; IPCC expected to push binding emissions cuts...

12 November :: Judge Mukasey was sworn in Friday as US attorney general, after key senators said they were re-assured by his promises not to endorse any interrogation practices beyond the law... "A 4,000-year-old temple filled with murals has been unearthed on the northern coast of Peru, making it one of the oldest finds in the Americas, a leading archaeologist said on Saturday" according to Reuters news service... IPCC meeting in Valencia, Spain, gathers representatives and scientists from 140 countries "to draft a report that could increase pressure on countries like the United States and China to make binding cuts in greenhouse gas emissions"; meeting comes just weeks before Bali conference expected to begin draft for replacement to Kyoto Protocol... Texas legislature caught violating rules, multiple members franticly voting multiple times for absent colleagues; rules already propose penalties, new law would make such abuse criminal offense... Oil spill spreads across San Francisco Bay as weather condiditons make containment, clean-up hazardous, unpredictable; state officials continue to call for probe into lax response in early stage of spill... At least 7 were killed, 80 injured in Gaza demonstration when gunfire broke out, allegedly between supporters of rival Fatah, Hamas factions; Hamas said to be planning crackdown on Fatah after deaths...

Saturday, November 10, 2007

Musharraf plans to lift state of emergency within 30 days; San Francisco demands answers for fuel spill; Georgia parliament backs martial law...

10 November :: Pakistan gov't announces plans to lift state of emergency within one month, saying it was declared to fight radical fundamentalist militia allegedly spreading from country's northwest border provinces... NY Times reports "The Pakistani police allowed the opposition leader Benazir Bhutto to leave her house today, but blocked her from visiting the home of the ousted chief justice, who has been detained"... Officials from San Francisco, Bay area cities, California gov't, demand answers from US Coast Guard on why it waited so long to notify public of 58,000 gallon fuel spill; Coast Guard acknowledges it might have moved more quickly, but says no inappropriate actions were involved; SF may seek legal action... Reuters reporting "Georgia's parliament on Friday endorsed President Mikhail Saakashvili's state of emergency decree in defiance of local opponents and Western allies, and accused an opposition tycoon of plotting a coup"... 7 human rights groups, including Amnesty Int'l have called on Iranian authorities to release a woman sentenced to 2 1/2 years in prison and flogging for peaceful demonstration in which she called for increased rights for women under Iran's Islamic law... British gov't plans to request new legislation to extend detention without charge in terrorist cases, possibly to as long as 56 days; current anti-terrorist legislation permits detaining suspects for up to 28 days without charge, leading many to accuse gov't of discarding cherished freedoms in exchange for prosecutorial assistance which may only erode the integrity of the judicial process, with no clear benefit for catching actual terrorists... European Central Bank pushing efforts to slow growth in value of Euro against dollar, concerned it may be hampering business opportunities for European businesses...

Friday, November 9, 2007

Bhutto home surrounded by Pakistan security forces; CA sues EPA for emissions inaction; Mukasey approved by Senate as next AG...

9 November :: Musharraf's forces in riot gear have surrounded home of Bhutto's home, alleging suicide bombers are waiting to strike, no one being allowed in or out; move is aimed at preventing her holding massive rally in Rawalpindi; after she attempted to leave, she was prevented by gov't forces, she has been placed under house arrest by 30-day detention order... California leads lawsuit by 15 states against EPA, alleging negligence in responsibility to act to diminish risk of global climate change; CA gov. Arnold Schwarzenegger said if the EPA does not move to permit the state's new emissions regulations, "We sue again, and sue again and sue again until we get it"... US Senate has voted 53-40 to approve Judge Mukasey as next attorney general; vote came even as leaders like judiciary committee chair Leahy stiffly opposed the nomination, declaring "I do not vote to allow torture"... Senate votes 79-14 to override Bush water bill veto, confirming first override of Bush presidency; CNN reports "Supporters said the projects authorized under the Water Resources Development Act are necessary to rebuild the Gulf Coast after the devastation of Hurricane Katrina, restore the Everglades and Great Lakes fisheries and build flood-control projects nationwide", while Sen. Barbara Boxer (D-CA), a major backer of the measure told president "You should respect the Senate, the House, the Congress and American people because we are elected, too"... Georgian pres. Mikheil Saakashvili, facing demands for his resignation and having declared martial law alleging media conspiracy to overthrow him, has set date for early elections, saying he seeks to demonstrate his democratic mandate, also alleging "cunning plots" by hostile foreign powers to steal Georgian land; security forces had targeted press, arresting reporters, opposition politicians, confiscating cellular phones in alleged effort to prevent reporters' informing outside world or asking for US diplomatic pressure... Brazil announces major oil discovery, which could turn it into a major oil exporter; new find estimated to equaal 40% of all petroleum ever found in Brazilian territory... Fmr NY police commissioner, Giuliani ally Bernard Kerik to be indicted for corruption; while Kerik and Guiliani were business partners, the presidential candidate has not been implicated in the investigation, to date... US military in Iraq has released 9 Iranians it had held for up to 3 years, saying they are neither threat nor of intelligence value...

Thursday, November 8, 2007

Musharraf forces beat, gas attorneys calling for rule of law; US energy bill could produce massive shift in national fuel consumption, wean off oil...

8 November :: Musharraf forces beat and tear-gassed demosntrating lawyers before taking them into custody; reports suggest intimidation has been widespread, with int'l press reporting security forces "charged" a group of more than 1,000 lawyers chanting anti-Musharraf slogans in Lahore; deposed supreme court chief Chaudry calls on lawyers to step up demonstrations nationwide, as demands grow for restoration of law-based democratic gov't, Scotsman reporting "A strongly-worded White House statement demanded that those detained under emergency regulations be released immediately, saying it was 'deeply disturbed'"; int'l press reportedly under strict censorship guidelines in new martial regime... CS Monitor reports "Energy-conservation measures in House and Senate bills approved earlier this year could by 2030 save the US twice as much oil as it now imports from the Persian Gulf, slash greenhouse-gas emissions by 40 percent, and reduce electricity use by at least 10 percent"; bill would push major nationwide shift in modes of energy consumption, fuel sources... 1.2 billion sms or text messages being sent per week across Britain in 2007, figure equates to 4,000 sms per second, making it the fastest growing means of wide-market communications; original developers admit they believed the technology would be used for limited business-to-business usage... Voters in NJ on Tuesday rejected a state-borrowing ballot measure to fund stem-cell research at state level, Utah voters similarly rejected school voucher program; worries about gov't debt, personal savings, income stagnation and economic slowdown, reported to be primary concerns driving opposition to spending-based ballot measures; Texas voters supported ballot initiative to spend $3 billion raised from bonds, over 10 years, to expand cancer research... Democrats gain Kentucky governorship, control of Virginia legislature, as corruption, support for Bush policies hamper GOP electoral efforts nationwide; Mississippi governor, Haley Barbour, a Republican, won re-election easily, Reuters reporting "Barbour was one of the few politicians to win praise after Hurricane Katrina in 2005 for working to reopen casinos quickly in coastal cities such as Gulfport that were devastated by the storm as a way of kick-starting the local economy"...

Friday, November 2, 2007

CBS reveals key fraud in Iraq WMD intel; Bhutto leaves Pakistan, rumors of martial law; crude reaches $96/barrel record high price...

2 November :: 60 Minutes reveals WMD intel fraud, Iraqi emigré known as 'Curve Ball' by spy agencies said to have lied to officials about involvement in WMD work in Iraq in order to get asylum in Germany; US later used his false claim as support for invasion of Iraq; program to air Sunday in US... Fmr PM Benazir Bhutto, touted to be hope for democracy, stability if she regains PM post, leaves country for Dubai, rumors Musharraf to decree martial law; Pakistan's Supreme Court to rule on validity of Musharraf's latest re-election to presidency, militant Islamist attacks on rise across country, including military facilities, as Musharraf steps up efforts to bring northwestern border region under central control... Crude oil trading in New York yesterday reached $96/barrel for the first time in history; prices fell slightly by the end of trading, continuous climb attributed to continuing scarcity, projected short supplies, OPEC plans not to increase production levels... Water scarcity tensions high in Australia as man watering lawn murdered by passerby who objected to his wasting water; victim was rushed to hospital after being brutally beaten during argument, but later died; he was watering lawn by hand, on officially assigned day, was within law... 29 US senators, including Democratic presidential candidates Hillary Clinton (NY) and Chris Dodd (CT), have signed a letter warning Pres. Bush that vote labeling Iran Revolutionary Guard a terrorist group does not authorize attack on Iran; Sen. Obama (D-IL), a campaign rival of Clinton and Dodd, has said he believes the letter is too weak, that the matter requires a binding resolution from the Senate...

Monday, October 29, 2007

ABA recommends freeze on all execution, nationwide; Cristina Fernández de Kirchner wins Argentine presidency; Exxon seeks to reduce Valdez judgment...

29 October :: American Bar Association finds irregularities throughout death-penalty system in US, says moratorium should be imposed by all states until thorough examination, correction of systemic flaws is carried out; "After carefully studying the way states across the spectrum handle executions, it has become crystal clear that the process is deeply flawed" an ABA panel found, after reviews of procedures used in 8 states; DNA evidence has been used in recent years to demonstrate conclusively the innocence of over 200 inmates awaiting execution... First Lady Cristina Fernández de Kirchner elected president of Argentina, will succeed her husband when his first term expires; many have said the popular senator's victory in yesterday's election was essentially a "referendum" on her husband's economic reforms... Democrats in Iowa move primary caucuses to 3 January 2008, matching Republicans, maintaining tradition by which both parties meet on same night across state; NH has indicated it will hold its primary balloting no later than 8 January, but no change to the originally scheduled date of 22 January has yet been made... Thousands of civilians have fled Mingora, in the Swat region of northwestern Pakistan, fearing bloodshed in clashes between gov't forces and Taliban-style fundamentalist militia... US Supreme Court agrees to hear Exxon-Mobil appeal of $2.5 billion punitive damages ruling for 1989 Exxon-Valdez oil spill in Prince William Sound, in Alaska; the most profitable corporation in US history says the damages, which have already been reduced twice in favor of Exxon-Mobil appeals, is too high; the spill devastated over 1,200 miles of pristine coastline, destroying commercial fisheries and jeopardizing local ecosystems; in July, Exxon announced quarterly profits of $10.36 billion, its record —for all corporations, globally— being $10.71 billion in the 4th quarter of 2005, its next best being Q3 2006, at $10.49 billion; in that quarter, its gross revenues of $99.59 billion exceeded the entire economic output of major oil producers like Kuwait (which it nearly doubled) and the United Arab Emirates...

Friday, October 26, 2007

GAO finds terrorist watch list may target too many people; St. Bernard breed may prove Darwin's evolution; oil over $92/barrel...

26 October :: Report from Government Accountability Office (GAO) finds terrorist watch list may be targetting too many people to be effective, including 755,000 names as of May 2007, 860,000 at present; critics of the list say it threatens civil liberties, contravenes Constitutional protections; Sen. Lieberman has expressed concern about its "500 percent increase in three years", Justice Dept. inspector-general's report questions quality of data used... Scientists say study of St. Bernard skulls over 120 year period show selection in dog breeding demonstrates Darwin's theory of evolution; in case of dog breeds, human selection accelerates the process of natural selection, which would likely take longer to show evidence... US announces stiffest sanctions regime against Iran in nearly 3 decades, targeting three state banks, declaring elite Revolutionary Guard "proliferators of weapons of mass destruction" for efforts to enrich uranium, making it a crime for any US citizen to do business with any of the cited entities; Russia has already denounced the new sanctions, some fear move could be provocation, further escalate tensions; US sec. of State Condoleezza Rice said in announcing the sanctions that the US is still fully committed to a diplomatic solution... Financial firm Merrill Lynch has added $2.9 billion to its already massive write-down of losses, now totalling $7.9 billion for this quarter; the firm's revenues fell 94% against this time last year, and spokesman says firm still faces some exposure from sub-prime related accounts... Oil hits record high $92.22 in trading Friday, as falling dollar, mounting violence in Iraq, tension between Turkey, Kurds, dwindling US supplies, Iran sanctions provoke fears of further scarcity; OPEC says it has no plans to increase production at next meeting...

Wednesday, October 24, 2007

Half million Californians forced to flee wildfires; fossil record shows high temps correspond to mass extinction; China launches lunar probe...

24 October :: More than 500,000 Californians have been evacuated as wildfires blaze out of control, more than 1,000 structures destroyed; firefighters admit they cannot control the fires, can only hope at present to protect people; Gov. Schwarzenegger has warned the White House the fires are too vast to be dealth with by state agencies... UK researchers have found link between elevated global temperatures and mass extinction throughout fossil record; findings suggest escalating global temperatures could lead to a new mass extinction; Le Monde Diplomatique has reported UN figures showing high concentrations of CO2 correspond to highest temperature spikes... Sentence for Pinochet security forces chief extended 15 years; he has been found guilty of masterminding, ordering abduction of dissident last seen at Villa Grimaldi detention center in 1974... China launches unmanned orbiter, its first lunar probe; Japan has just put its first satellite into lunar orbit, with India planning to follow; some worry 'nationalism' in region fueling new 'space race', though for now there does not appear to be a plan to militarize... Turkey has admitted it launched airstrikes against PKK positions inside Iraqi Kurdistan, crossing as far as 20km into Iraqi airspace; pres. of Kurdish regional assembly, Iraqi pres. Talabani, also a Kurd, have called on PKK to renounce the use of violence; Turkish ground forces have allegedly made isolated incursions as well, through for now no large-scale ground invasion has occurred... NYT reports "In a report made public on Tuesday, a review panel found that there were too few American officials in Iraq to enforce the rules that apply to Blackwater and other security contractors. It also found that the conduct of the contractors had undermined the broader mission of ending the insurgency and establishing a democratic government in Iraq"... China, world's #2 oil consumer, tells OPEC oil prices are too high; contacts were part of OPEC-China 'roundtable' to help steer OPEC policy with regard to China's explosive growth in petroleum demand...

Friday, October 12, 2007

UN Security Council unanimously 'deplores' Burma crackdown; Gore wins Nobel Peace Prize; Afghanistan closes 2 security firms, probing 10 more...

12 October :: UN Security Council passes unanimous non-binding declaration that it "strongly deplores" the violence used by Burma's military gov't against peaceful demonstrators; statement also calls for release of "all political prisoner and remaining detainees", as well as urging direct talks with opposition, pro-democracy leader Aung San Suu Kyi, significant action to move Burma toward a lasting democratic process; statement is first ever Council action on Burma's military junta... Fmr US VP Al Gore and the UN's Intergovernmental Panel on Climate Change have been awarded the Nobel Peace Prize for their efforts to raise global awareness of the climate change crisis; since spring 2007, Gore has won an Academy Award, an Emmy and now the Nobel, he said in response "We face a true planetary emergency. The climate crisis is not a political issue, it is a moral and spiritual challenge to all of humanity", two advisers told the press the award does not make it more likely he will run for US presidency... CNN reported yesterday "Afghan authorities this week shut down two private security companies and said more than 10 others —some suspected of murder and robbery— would soon be closed, Afghan and Western officials said Thursday"; move comes amid growing concerns over role of private security firms in Iraq violence, UN urging US to investigate alleged crimes... Crude oil hits record high trading price of $84/barrell, just after noon New York time; cost for alternative fuels expected to drive adoption of new fuel sources, transport costs straining overall economic output... Russian Soyuz rocket launched from Kazakhstan carrying American, Russian, Malaysian to Int'l Space Station; Peggy Whitson to be first woman to command Space Station, Sheikh Muszaphar Shukor 9th Muslim in space, 1st Malaysian...

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