Saturday, June 18, 2005
Non Cruise News
The Danes Demand Junk Food Labels. Flabbius Maximus seen nearby, protesting this legislation.
Black Gold, Texas Tea Update: Part 3, "Jed, come quick, the oil is gonna start flowin'." Story below:
Putin Sidelined as Oil Flows West from the Stans
(BUSINESS) 2005.05.26
A new oil pipeline gives Russia the boot and may help the US and Europe cut down their dependence on Middle East oil. And, Germany's left wing Social Democrat Oscar Lafontaine is back with more pipe dreams. Plus, why June bugs are better for you than steak and an update of the ever-crumbling attempt to revamp the nuclear Non-proliferation Treaty.
On Wednesday, the $3.6 billion Baku-Tbilisi-Ceyhan oil pipeline is scheduled to open with a ceremony in Azerbaijan. We hope it's a big one. The 1,750 km pipeline has been 11 years in the making and does the once unthinkable -- bypasses Russia in linking the rich light crude reserves in Azerbaijan and, later, Kazakhstan and other neighboring countries, with the Turkish port of Ceyhan on the Mediterranean Sea. From there the oil can be exported conveniently to world markets. And all without a single fingerprint from Russian President Vladimir Putin.
The pipeline is owned by a consortium led by energy giant British Petroleum, the biggest foreign investor in Azerbaijan, which holds a 30% stake, and includes the Azerbaijani state company Socar as well as Amerada Hess, ConocoPhillips, Eni, Inpex, Staoil and Unocal.
Source: service.spiegel.de
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