Word: eurasia
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...live peacefully in the "common house" of Eurasia, especially after two hot world wars and one cold one, is of course a perfectly rational desire. But a desire is not a strategy, and that is where Europe sells itself short. The E.U. has a population around three times larger than Russia's. Its GDP dwarfs Russia's by a factor of 12. And the 27 members of the E.U. heavily outspend Moscow on defense...
...sent oil prices rocketing, and helped to ignite a scramble for new oil exploration and drilling in numerous developing countries from Ecuador to Angola, whose economies have surged along with the oil prices. "OPEC needs to see China maintain its rate of growth," Robert Johnston, energy director for the Eurasia Group in Washington said before the OPEC meeting. Without China's continued thirst for new oil, OPEC production cuts will have a limited impact...
...prices force his government to cut its heavy gasoline subsidies, he won't help his chances of reelection in a tough presidential race next June. "There is a lot of popular unrest when they cut subsidies or put on gas quotas," says Robert Johnston, Director of Energy for the Eurasia Group in Washington. For similar reasons, Venezuela President Hugo Chavez wants OPEC to cut production by about 1 million barrels a day, warning that his country would face dire economic problems if oil prices continue falling...
...chief prosecutor, who sought to outlaw the party on the grounds that it was antisecular. But these political struggles have been an awkward distraction at a critical time, and may have scared off potential foreign investors. In a report this month, Wolfango Piccoli, a Turkey expert at consultants Eurasia Group, wrote: "Despite its large parliamentary majority and past pragmatism, the government has remained essentially idle while Turkey is facing the double challenge of a slowing economy at home and a global credit crunch...
...first time early this year, Americans (who consume one-quarter of the world's energy) began cutting back. When gas began selling above $4 a gallon, American consumers made "a psychological shift into the sense of crisis and a sense of permanence," says Greg Priddy, oil analyst for the Eurasia Group in Washington. Instead of believing that gas prices would finally fall again, many began changing their daily habits - they started driving the smaller car in a two-car garage or consolidating shopping trips. That has meant a huge slump in Americans' gas use. Even before the market meltdown, Americans...