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Western Oil Companies Back in Iraq With Unusual Contracts
Thirty-six years after Saddam Hussein nationalized oil and kicked out Western companies, Iraq's Oil Ministry has awarded Exxon Mobil, Shell, Total, and BP contracts set to bring the oil giants back.
Despite the fact that high oil prices put these contracts in high demand, Iraq granted very unusual no-bid contracts, meaning the companies did not have to compete with their counterparts in China, Russia, and India. Today's New York Times explains:
There was suspicion among many in the Arab world and among parts of the American public that the United States had gone to war in Iraq precisely to secure the oil wealth these contracts seek to extract.
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The 10 Most Financially Sound Companies of 2008
The numbers are finally in from 2008, and among all of the big-named bankruptcies that occurred last year there were some financial knights. Strength in numbers wasn't easy to come by during a year that beat up most everyone, but Fortune managed to find ten that came out on top of the business world in 2008.
Front Page: US Economy Shrinks Like It's 1982
- The US economy shrank 3.8 percent last quarter, the most it has shrunk since 1982. — Bloomberg
- President Obama will be rooting for the Pittsburgh Steelers to win the Super Bowl this Sunday. — CNN
- Exxon Mobil's profits dropped 33 percent last quarter, thanks to lower demand for gas and cheaper oil prices.
Feeling Gassy? The Government Is Too.
It's no secret that gas is completely expensive. This week the news about it has been a gusher. Big Oil execs were called in front of Congress to explain the hit we're all taking at the pump.
News Flash: Exxon Reported Its Best Quarterly Profit in History
- Exxon Mobil reported its best quarterly profit in history, but investors sold off shares in morning trading after expecting even higher earnings because of soaring oil and natural gas prices. — New York Times
- MasterCard Inc., the world's second largest credit-card company, suffered the biggest decline in New York trading since it went public in May 2006 as personnel expenses exceeded analysts' estimates. — Bloomberg
- Have you ever wondered what would happen if you responded to one of those Nigerian scam emails, offering millions of dollars in exchange for moving a little money around or writing a small check?
The Clarisonic Diaries: A (Greasy) Update!
Now that I've been using my Clarisonic ($195) for a few weeks, I think it may be time for an intervention. As dorky as this sounds, I now look forward to washing my face; the brush just leaves my skin so soft and smooth that it's hard not to get hooked.
Unfortunately, I learned a lesson the hard way.
Link Time
- Bush's Wikipedia entry a love letter from Karl Rove? — Beggars Can Be Choosers
- Smug alert: leather-free SUV Hybrid spotted in San Francisco — SFist
- Leo DiCaprio, Stevie Wonder, sexy-time mayors, etc, at last night's debate — Politico
- Mentally retarded female bombers cause deadliest day since surge in Iraq — Huffington Post
- Ann Coulter says if McCain wins, she will campaign for Hillary — Red State
- Exxon-Mobil reports record profits, adding insult to injury — Daily Kos
- Microsoft + Yahoo = bringing Google to its knees? — Pandagon
- What the National Journal "liberal" ranking really means — Swampland
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