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...without them, oil futures would currently trade at between $25 and $30 a bbl., according to Edward Morse, head of economic research at Lewis Capital Markets in New York. But in reality, some OPEC leaders simply ignore their quotas, because they need every penny they can earn from oil. Among the bad boys: Venezuelan President Hugo Chávez and Iranian President Mahmoud Ahmadinejad, whose oil revenues offset the impact from Western sanctions and help finance their vote-getting social programs. Angolan officials this month told OPEC they needed an exemption from their quota of 1.5 million...
Since stocks are pushing higher, the VIX has obviously come down partially as a result of an easing of fear among investors. But these investors have not forgotten their fear, and it could easily escalate...
...million to help survey herds for H1N1. In a similar letter from state governors, lawmakers requested that the government urge overseas markets to start buying U.S. pork again, and Vilsack said he would lean on the international trading partners who haven't yet lifted their U.S. pork bans. "Among the ones who have been open to reason and logic," he says tartly, "many of the barriers are already down." (Read "Swine Flu: Don't Blame...
Another goal of the speech, officials say, was to install a circuit breaker - not only to the mythology and false claims about the legislation but also to the wars that have been waged between the left and the right over actual provisions. Chief among them: the "public option," a government-run alternative like Medicare to cover the uninsured. "What's happened is that has become sort of a Rorschach test for the left and the right," the White House official said. "There are those on the left who believe this would be the nose under the tent for single-payer...
...discrimination in Australia, a nation still raw from the 2005 Cronulla race riots where thousands of Anglo-Australians engaged in violent clashes with Australian youth of Middle Eastern appearance at a well-known beach in Sydney's south. The country is also grappling with an upsurge of ultra-nationalism among some younger Australians. The issue facing South Asian students is far larger than a few isolated - and possibly opportunistic - attacks, says Unni, the Sydney coordinator of the Federation of Indian Students of Australia. The far bigger problem, he says, is the long-term systemic neglect of the welfare of foreign...