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Archive for April 5, 2011

UPDATE 2-Oil could hit $200-$300 on Saudi unrest-Yamani

April 5, 2011 Comments off

reuters.com


LONDON, April 5 (Reuters) – Oil prices could rocket to $200- $300 a barrel if the world’s top crude exporter Saudi Arabia is hit by serious political unrest, former Saudi oil minister Sheikh Zaki Yamani told Reuters on Tuesday.

Yamani said he saw no immediate sign of further trouble following protests last month calling for political reforms but said that underlying discontent remained unresolved.

“If something happens in Saudi Arabia it will go to $200 to $300. I don’t expect this for the time being, but who would have expected Tunisia?” Yamani told Reuters on the sidelines of a conference of the Centre for Global Energy Studies (CGES) which he chairs.

“The political events that took place are there and we don’t expect them to finish. I think there are some surprises on the horizon,” he said in a speech.

Saudi King Abdullah offered $93 billion in handouts in March in an effort to stave off unrest rocking the Arab world.

So far, demonstrations in the Kingdom have been small in scale and police were able to easily disperse a Shi’ite protest in the oil-producing eastern province last month.

But Yamani said that the reluctance of people to participate in popular protests was merely concealing underlying discontent.

“Some people relax about the situation in Saudi Arabia because the Saudi Islamic brand prohibits people to go to the street and to talk,” he said in a speech.

 

SAUDI TIME BOMB

Oil traded at two-and-a-half-year highs above $121 a barrel LCOc1 on Tuesday. Libya’s rebellion has shut its oil exports, stoking fears of disruptions in other major producers.

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U.S. wants to use India in missile shield against Russia, China

April 5, 2011 Comments off

thehindu.com


The United States has been trying to rope in India for its plans to build a global missile defence system threatening Russia and China, the Komsomoloskaya Pravda, a popular Russian daily published from Moscow reported on Thursday.

In a story based on the WikiLeaks releases, the report said the U.S. has not only been planning to deploy a missile shield against Russia in Europe, but had also been negotiating with countries along Russia’s borders, such as Japan and India, to jointly build missile defences that would also target Russia.

“The noose [around Russia] is tightening,” the newspaper said. “Thanks to WikiLeaks, it has become known that Washington has been simultaneously conducting talks with countries in other parts of the world for building U.S. missile defences on their territories. Those are different countries, but they form a chain around Russia.”

A 2007 confidential cable from the U.S. embassy in New Delhi carried by the daily refuted media reports that India had abruptly turned its back on a 2005 agreement with the U.S. to cooperate on missile defences. The cable said the Indian media had misinterpreted remarks by External Affairs Minister Pranab Mukherjee after the Russia-India-China trilateral meeting in Harbin, China, on October 24, 2007. Mr. Mukherjee had dismissed as “groundless” the idea that India was going to join a U.S.-led missile defence system.

Misconstrued

“MEA contacts confirm this did not mean India was not interested in continuing to cooperate with the U.S. on missile defence technology and that there has been no change from the current level of bilateral missile defence cooperation,” the U.S. embassy cable said.

The “MEA contacts” explained that Mr. Mukherjee’s comments were “misconstrued” by the Indian press. When Mr. Mukherjee said that “India does not take part in such military arrangements,” the officials said, he had had in mind the U.S. plan to install a missile-detection system in Europe, which his Russian and Chinese counterparts referred to in the same press interaction. Read more…

Is this the first ever portrait of Jesus? The incredible story of 70 ancient books hidden in a cave for nearly 2,000 years

April 5, 2011 Comments off

dailymail

The image is eerily familiar: a bearded young man with flowing curly hair. After lying for nearly 2,000 years hidden in a cave in the Holy Land, the fine detail is difficult to determine. But in a certain light it is not difficult to interpret the marks around the figure’s brow as a crown of thorns.

The extraordinary picture of one of the recently discovered hoard of up to 70 lead codices – booklets – found in a cave in the hills overlooking the Sea of Galilee is one reason Bible historians are clamouring to get their hands on the ancient artefacts.

If genuine, this could be the first-ever portrait of Jesus Christ, possibly even created in the lifetime of those who knew him.

Discovery: The impression on this booklet cover shows what could be the earliest image of Christ
Discovery: The impression on this booklet cover shows what could be the earliest image of Christ Read more…