United States Supplanted by China’s Thirst for Oil
Six world powers – the United States, Russia, China, France, Britain and Germany – hold talks with Iran on its nuclear programme in Geneva on Tuesday and Wednesday. No one should expect a breakthrough overnight, a senior U.S. administration official told reporters. Washington is ready to offer Iran rapid relief from economic sanctions if Tehran moves quickly to address concerns that the ultimate goal of its nuclear work was to make bombs, the official said, speaking on condition of anonymity. Any potential sanctions relief, the official said, would be targeted, proportional to what Iran puts on the table. Iran says its nuclear programme is peaceful. Im sure they will disagree about what is proportionate, the official said. But we are quite clear about what the menu of options are and what will match what. On the eve of the talks, EU foreign policy chief Catherine Ashton, who represents the so-called P5+1 nations in negotiations, had dinner with Iranian Foreign Minister Mohammad Javad Zarif, who said Tehran would put its case on Tuesday. We had a good dinner, Zarif told Reuters as he returned to his hotel after the two-hour dinner at the Iranian diplomatic residence in Geneva. When asked if he had given Ashton details of an Iranian proposal, he responded: Proposal is for tomorrow. In a hint that Washington is seriously considering easing sanctions, the U.S. delegation at the talks includes one of its leading sanctions experts – Adam Szubin, the director of the Treasury Departments Office of Foreign Assets Control. The European Unions top sanctions official has also joined the blocs delegation at the talks. Since 2006, Iran has rejected U.N. Security Council demands that it halt uranium enrichment and has continued to expand its nuclear fuel programme, leading to increasingly harsh sanctions. This weeks meeting follows the June election of President Hassan Rouhani, a relative moderate who says he wants to thaw Irans icy relations with the West to secure the removal of punitive sanctions that have hobbled its oil-based economy.
And yet for more than a century, most regional rivalries in the United States have been over football games or who makes the best pizza. Americans can be born in New Jersey, move to California, then wind up in Florida or the other way around all the while retaining regional accents and tastes, but still living in one nation. British author Simon Winchester explores how this national unity came about in his new book, The Men Who United The States: America’s Explorers, Inventors, Eccentrics, and Mavericks, and the Creation of One Nation, Indivisible. In it, he depicts some of the men, the inventions and the enterprises from the transcontinental railroad to Morse code, from the Erie Canal to the Internet that helped make the United States whole. Winchester talks to NPR’s Scott Simon about the uniting influence of canals, roads and (our favorite) radio. Interview Highlights On how his perspective as an Englishman allows him to appreciate the United States’ unity I think our experience in Europe shows how very difficult it is for a polyglot peoples to be welded into one. … It is, to me, quite remarkable that a nation full of as many peoples and ethnic varieties and languages and religious affiliations can nonetheless call itself united. On the Chicago Sanitary District Canal, a unifying solution to a very messy problem Chicago is beguilingly close to the Mississippi River, so why not link the two? And there was an additional problem … all Chicago’s sewage and I don’t want to put people off their breakfasts here but all the sewage would sweep through central Chicago out into the lake. And of course, on a hot day, the effluent, it was a ghastly smell. And so there were numerous pleas from the citizens of Chicago, saying, “Let’s get the sewage out and send it to the West and to where people don’t care about it.” So, they did build first of all the Illinois and Michigan Canal …
It’s FREE! Click one of these fan favorites to get started: Apple ; Google ; Ford . United States Supplanted by China’s Thirst for Oil October 13, 2013 | Comments (1) This segment is from this week’s Digging for Value, in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors, @TMFEnergy . The United States appears to be losing its status as the world’s top oil importer, thanks to the colossal turnaround in crude oil production caused by hydraulic fracturing and horizontal drilling techniques. While China’s 6.3 million barrels per day of crude oil imports are just slightly higher than the United States 6.1 million per day, the trajectory of the two countries’ crude consumption varies significantly. The United States could be the world’s largest crude oil producer by the end of the decade while oil demand drops as fuel efficient cars takeover our highways. Meanwhile, China is in the early stages of unconventional shale exploration, and with a growing middle class, fuel consumption is set to rise precipitously. See more on this topic in the following video. Stocks to buy to play the United States energy bonanza Record oil and natural gas production is revolutionizing the United States’ energy position. Finding the right plays while historic amounts of capital expenditures are flooding the industry willpad your investment nest egg. For this reason, The Motley Fool is offering a comprehensive look at three energy companies set to soar during this transformation in the energy industry. To find out which three companies are spreading their wings, check out the special free report, ” 3 Stocks for the American Energy Bonanza .” Don’t miss out on this timely opportunity; click here to access your report — it’s absolutely free. Alison Southwick and Taylor Muckerman have no position in any stocks mentioned. Joel South owns shares of Ford.