How the American credit society has developed (05/12/2010)
(...) American Express responded to the bank card challenge, expanding both its customer recruitment and its merchant base. In 1986 Sears entered the all-purpose card market with its Discover card. By the 1990s the all-purpose card gained dominance over traditional store cards, making it possible for millions of cardholders to charge anything from their dental fillings to their parking tickets. (...)

Vital resources for the world economy (01/01/2010)
(...) Among all MENA countries (twenty-one countries according to the World Bank), thirteen are net oil exporters and eight possess vast oil and gas resources. In 2006, the oil reserves of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Algeria and Libya were estimated at 785 billion barrels, 65 per cent of the world oil reserves for 3 per cent of the world's population and 2 per cent of the world's GDP. These countries' oil resources represent about 80 per cent of OPEC reserves. (...)

Russia as oil producer and exporter (12/29/2009)
(...) Russia has a wide natural resource base, which includes the world's largest natural gas reserves and the second largest coal reserves. It also has an important hydroelectric potential, as the country possesses about 9 per cent of the world's hydro resources. The Russian power sector has a relatively diversified fuel mix. (...)

Radical market reforms based on price liberalisation (12/29/2009)
(...) The former Soviet republics, previously interdependent, experienced severe electricity, oil and gas shortages. Exports from Russia were sporadically cut off for chronic non-payment. Ukraine, then a major consumer of Siberian gas, was particularly hit by the energy crisis. (...)

Oil routes diversification (12/29/2009)
(...) 4 million barrels per day corresponding to 16 per cent of the global oil supply (and close to onethird of trade volume). Growing tensions have highlighted the potential risks of piracy and terrorism and, more generally, the risk of supply disruptions. Therefore, countries have recently tried to bypass these two routes. (...)

Remarkable evolution of energy company (12/29/2009)
(...) Mr Tchernomyrdine, the Chief Executive of Gazprom, became Prime Minister of Russia. Mr Medvedev, a protégé of former President Putin who served as the chairman of Gazprom’s board of directors, was elected Russian president in 2008. During the depression period, the non-payments for gas deliveries severely undermined the company’s finances and had a negative impact on its investment policy. (...)

Fossil fuel extraction is a polluting industry (12/29/2009)
(...) As oil production is increasing, so are the numbers of oil spills. According to the official statistics recorded between 2000 and 2004 there were 10,647 pipeline accidents with more than 27,000 tons of oil spills in the Khanty-Mansy region alone in north-west Siberia. The number of reported accidents has almost doubled since 2000. (...)

Rising oil and gas sales (12/29/2009)
(...) Recurrent non-payment for oil and gas deliveries, the poor state of the transport network, plus high transit fees and disputes over fuel prices prompted Russia to diversify its export routes. Political issues such as the pending entrance to NATO of the Baltic States and the discrimination against the Russian-speaking population have influenced the decision to develop transport hubs on Russian territory as well. Crude oil, which was traditionally transported through the Baltic States, has been re-routed through the new Baltic Pipeline System (BPS). (...)

Low rate of electrification in poor countries (12/29/2009)
(...) In addition, decentralised power systems often face operational and maintenance problems due to a lack of skilled human resources. However, the combination of high oil prices with progress in cost and efficiency of renewable energy systems (batteries) could enhance the attractiveness of decentralised systems in areas difficult to reach with the grid. Large programmes of decentralised electrification, through solar systems and bio-digesters, have been developed successfully in Bangladesh. (...)

Huge flow of foreign direct investments (12/29/2009)
(...) They are able to propose ‘global packages' to developing countries which may combine an oil, gas or coal investment combined with the building of roads, railways, power plants, refineries, hospitals and schools - and some luxurious private homes for the ruling class. In addition, the Chinese government may propose loans and financial facilities to local governments. The Chinese way of doing business tends to fit the governance structure of developing countries. (...)