Word: oil
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...jetty along the Irrawady, two nearly week-old bodies, an adult and a child, lay among the storm's detritus of plywood, bamboo and coconut husks. Near the corpses, people went about their lives, tying bamboo poles together to build temporary lodging and jostling for limited supplies of cooking oil and diesel fuel. Prices have at least doubled, a further blow to people who lost all their savings when Nargis swept through...
...huge oil pipe spewing rubles might have been a more fitting emblem of Russia's resurgent strength than the arms of the moribund Russia Army. But even the rattling of a rusty saber served the political point of reminding NATO-friendly neighbors like Georgia and Ukraine, as well as other ex-Soviet Republics, who is still the big guy on the block. Still, with the price of bread and other foodstuffs skyrocketing, there was some grumbling about the circus. The popular Moscow daily Moskovski Komsomolets calculated that the cost of today's military parade could have bought the city...
...anyone had any doubt that Iraq was a lot about oil, they shouldn't after the recent Capitol Hill appearance by our ambassador to Baghdad, Ryan Crocker. In a closed House hearing, Crocker put the fear of god in Congress. His message: If we leave Iraq, Iraq will destabilize the Gulf, and a destabilized Gulf equals unstable oil prices...
...With oil bumping pushing past $120 a barrel, you can bet you could hear a pin drop in the room. But what exactly was he talking about? Iraqi Shi'a militias invading Kuwait and Saudi Arabia, burning their oil fields, driving the price of gasoline up to $10 a gallon and us into a depression? Crocker wouldn't elaborate on his vague warnings, preferring to leave it at a sense of dread...
...from New York, I was of two minds. My high-minded policy brain was, of course, appalled. The gas-tax holiday was a scam. It had been tried at various times - Barack Obama had voted for a local version in the Illinois legislature - and prices never came down. The oil companies and gas-station owners simply pocketed the difference. Clinton's "responsible" version of the plan was also a scam. She wanted to pay for it with a "windfall profits" tax on the oil companies, but she had earlier, and more responsibly, called for the elimination of tax breaks...