It’s like Eskimos running out of ice: A recent report by Citigroup warns that Saudi Arabia — the world’s biggest crude exporter — may need to import oil by 2030. How did Saudi Arabia allow its fortunes to slip, even as it supplies an eighth of the world’s oil and natural gas liquids? The country […]
Venezuelan President Hugo Chavez pledged to deepen his socialist revolution after a comfortable election victory that could extend his divisive leadership of the OPEC nation to two decades. The new six-year term clears the way for Chavez, who is recovering from cancer, to consolidate state control over Venezuela‘s economy, possibly with more nationalizations, and continue […]
Edelmina Flores thanks God and Hugo Chávez for her apartment in a new housing complex in the Venezuelan president’s home state of Barinas. She might also want to thank the Chinese government. Since 2007, the China Development Bank has lent Venezuela $42.5 billion, backed by revenue from Venezuelan crude. That sum accounts for nearly a quarter […]
looking beyond borders 