Word: suez
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...together with allies such as France - has taken the lead in providing security in a vital shipping lane leading to and from the Suez Canal. Somalia has been convulsed by civil war since 1991, and as an attendant humanitarian disaster involving millions of refugees has spread chaos and lawlessness across the land, piracy at sea has rocketed. The primary strategic concern of the U.S. in the region appears to be rooting out al-Qaeda, which is why the U.S. military backed an Ethiopian invasion of Somalia to prevent a popular Islamist movement from taking power. But the Islamists remain powerful...
Soon after the first long-distance pipelines were laid in the Northeast in the late 1870s and early 1880s, the first oil tankers were allowed to pass through the Suez Canal, and the modern shipping system was born. Today crude oil travels in tankers that can carry up to 4 million bbl. With daily world demand at about 85 million bbl., petroleum represents about a third of all international cargo. And even though the commodity is also measured in kiloliters (in Japan) and metric tons (in Russia), thanks to whiskey, the units are always converted to the 42-gal. barrel...
...idea of Olympic boycott as political protest goes back at least to 1956. Several European countries refused to go to Melbourne because the Soviet Union had crushed the Hungarian uprising, while some Middle East nations stayed away because of a fight over control of the Suez Canal...
...soaring - the economic boom in China and, to a lesser extent, India. "No one saw this coming down the line 10 years ago," says Harry Tchilinguirian, senior oil market analyst for BNP Paribas in London. "You have to look at where demand growth is. Everyone looks West of the Suez Canal. But in fact all the action is happening east of that...
...after the attack, as the Argentines launched a mopping-up operation against 22 marines on the island of South Georgia, the full storm of recrimination broke over the Thatcher government. In the first emergency weekend sitting of Parliament since the Suez Canal crisis of 1956, both the opposition Labor Party and even many Conservative backbenchers called for the resignation of Foreign Secretary Carrington, Defense Secretary Nott, the man ultimately responsible for British military preparedness, and of Thatcher herself...