Word: oil
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...optimism where people know that our state can be better, but an anxiety that if we don't get it right now, we may not get this chance again in our lifetimes. I've described this as the fourth boom cycle in my lifetime in Louisiana. We had an oil boom, a gambling boom, and a health care boom. Whether this is being caused by the hurricane recovery or the oil and gas economy, it's another boom. There's over a billion-dollar surplus. The last three times there was a boom cycle, Louisiana in general invested those dollars...
...Despite his feisty talk, Gaddafi is a near-perfect customer for Sarkozy, if not quite yet his savior. Flush with revenues from record-high oil prices, the Libyan leader is rebuilding his military virtually from scratch, since decades-long Western sanctions banned him from purchasing arms and replacing broken equipment. "Libya's military inventories during the embargoes degraded to the point of being useless," says Matthew Smith, economics analyst for Jane's, the London-based defense research group. The organization this week estimates Libya's military spending was about $620 million last year - small change for the gargantuan defense industry...
...Europe itself is not a big arms customer. The real hunger lies in oil-rich and third-world countries eager to modernize their armies. Unlike the 1980s, when France nurtured military ties with African governments - selling massive arms systems in return for political backing - France has few natural allies to whom to sell weapons. Two months ago Morocco - France's former colony and close neighbor - rejected the Rafale and instead bought Lockheed Martin's F-16 fighter jet, which has seen years of combat, including in Afghanistan and Iraq. "Even the French Air Force hasn't bought all the Rafale...
...nation's worst oil spill blackens beaches...
CONTEXT Much like an oil spill, rat spills can wreak havoc on delicate ecosystems and are a major problem for many far-flung islands. One of Alaska's western Aleutians was even named Rat Island after it was overrun by the critters following a shipwreck in the 1780s...