Word: area
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...energy bonanza - and that could be bad news for the rich array of plants and wildlife the forest supports. Finer points out that there are approximately 180 separate zones of development for oil and gas exploration in the western Pacific, run by at least 35 multinational energy companies. The area covers almost 700,000 sq. km. and it's growing fast. In 2003 Peru cut oil and gas royalties in an effort to kick start energy investment; that discount, compounded by the rapidly rising price of oil, sparked a mini-boom in energy exploration. Oil and gas zones now cover...
...along with the heavy equipment and personnel needed for oil exploration. "Our attention has always been focused on the rainforest in eastern Brazil, because that's where the road network is," says Finer. "But the roads being put into the western Amazon have the potential to open up the area...
...cycle. Months pass as homes are foreclosed on, banks can't sell them, home prices stay low, and that sets off even more foreclosures. A report released earlier this month showed that it takes longer to sell a house in the south Florida market than in any other metropolitan area in the country...
...greater distraction it will prove from the challenges of Islamist militancy. That threat was underscored 10 days ago when fighting broke out in the Bajaur tribal agency along the Afghan border. Pakistani military jets and helicopter gunships have been targeting an estimated 3,000 armed militants in the area. More that 460 militants and 22 troops have been killed in the operation...
...what's flowing through Khur al-Zubar is coming into Iraq rather than heading out. These days, the facility, originally built more than 30 years ago for exporting oil, takes in roughly 66,460 metric tons of fuel a month, only slightly less than the amount of oil the area pumps for sale on the world market. (Iraq, as a whole, imports roughly a fifth of its oil.) "It's a problem," says port manager Hussein Hamid al-Maliki, who's working on building another jetty to up the inflow still further. "Iraq bringing benzene and gasoline from outside...