Word: oil
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...Many of the classic reasons companies set up shop in far-flung locales, like gaining a foothold in a new market, are still in the mix. Nissan, for instance, is among the carmakers now building a plant in Russia, a country flush with money from the skyrocketing price of oil. In 2003, Nissan sold 8,000 cars in Russia, a number that jumped to 24,000 in 2004, and to 50,000 in 2005. "We started thinking, if this isn't a fluke, we need to think about localization," says Dominique Thormann, Nissan's senior vice president for administration...
...says a change of course would require a change of government, but Angola's President Jos Eduardo dos Santos has not held an election since 1992. The observer describes the state as a ship heading for the reef of authoritarianism, corruption and popular discontent--a pattern seen in other oil-rich nations like Nigeria. Africa's oil wealth is all the more important now that China is investing huge sums of money. In Mauritius, the Chinese government is building a $500 million business park. Angola, China's leading supplier of oil, has received at least $5 billion in loans...
DILMA ROUSSEFF, chief of staff for Brazilian President Luiz Incio Lula da Silva, on the discovery of huge oil reserves off the nation's coast that could turn Brazil into one of the world's biggest oil producers...
...Oil spill closes more than two dozen beaches...
...company that underwrites GENOCIDE?” The group’s efforts are directed at helping people understand the role UBS plays in genocide in Sudan, said Political Advocacy Chair Trevor J. Bakker ’10. UBS underwrote the initial public offering for PetroChina, a Chinese oil company. PetroChina’s parent company, China National Petroleum Corporation, develops projects that generate funds for the government of Sudan, which is accused of genocide in Darfur. While PetroChina and CNPC are technically separate entities, Bakker argues that there is enough evidence of asset flow and overlap in management...