I was hoping he would tell her to bring her gun
Vodpod videos no longer available.
No not our illustrious House Speaker. The Russians are set to take advantage of Pelosi’s folly
Russia’s Security Council is set to meet to work out the country’s strategy in the Arctic. The region contains an estimated 25 per cent of the world’s remaining oil and gas. Russia is among those keen to claim it.
According to the United Nations’ Law of Sea, any state with an Arctic coastline that wishes to stake a claim to the region must lodge its submission with the UN’s Commission on the Limits of the Continental Shelf.
And that is exactly what Russia intends to do.
Geologists estimate there are around 10 billion tonnes of fuel equivalent in the Arctic seabed – the same as Russia’s total oil reserve.
The country’s specialists want to prove that the Lomonosov ridge, a vast underwater mountain range that runs underneath the Arctic, is an extension of the Siberian continental shelf.
Should they succeed – it would be the icing on the Arctic cake. But whether Russia’s claim cuts any ice with the UN is anybody’s guess – as the other contenders will certainly not give up without a fight.
“The challenge for Russia is that its Arctic neighbours have long started to formulate their own Arctic strategy, while Russia needs a great deal of inter-ministry and inter-departmental coordination in order to come up with a solid strategy in terms of diplomacy, geology and economy. It’s for that reason that the Security Council wants to set up some very specific goals and then an action plan,” political analyst Mikhail Troitsky said.
In August 2007, Russia’s Arktika expedition scored a spectacular success. It achieved the first crewed descent to the North Pole’s ocean floor, bringing fame and recognition to the crew.
But it also began a 5-way tug of war.
Russia, Canada, the USA, Norway and Denmark are now fighting for the right to claim the ocean bed as their own.
And while the subject matter may be ice cold – the debates are heating up.
“Canada’s government understands the first rule of Arctic sovereignty: use it or loose it,” Canada’s PM Stephen Harper has said.
The smoking gun is coming into veiw.
The bankruptcy filing of Lehman Brothers is another blow for the hedge fund industry, though the writing has been on the wall long enough for many to have reduced their exposure to the U.S. investment bank, according to Reuters.
Legendary fund manager George Soros, who runs around $18 billion in assets, looks likely to have had his fingers burned after raising his stake in Lehman to 9.5 million shares in the second quarter, according to the news service.
British activist hedge fund Algebris will also probably have taken a hit from the fall in the share price of what was the fourth-largest U.S. investment bank, Reuters said. The hedge fund firm owned just over 4.45 million shares at end-June, Thomson Reuters data show. Algebris sold its stake this year, a spokesman told Reuters, declining to give further details.
Dealings through Lehman’s prime brokerage business were also suspended on Monday, which will have caused problems for some hedge funds, though the industry has been seeking to increase the number of banks they deal with to spread risk.
The slump in Lehman’s share price is unlikely to have benefited many hedge funds, even though they have the ability to “short” a stock — which is essentially a bet that makes them money when the share price falls.
Many had taken their bets off the table in recent weeks following the spike in bank shares in July, and shorting also becomes more costly as the share price falls, because fewer people are willing to be on the other side of the trade.
“At the end of the day, how many hedge fund managers will be shorting Lehman at $3.75, when it’s come from $70?” one fund of hedge funds manager told Reuters. “Many have been reducing or taking off their short positions over the last few weeks or so.”
Meanwhile, the slump in markets — the FTSE 100 closed 3.9 percent lower at 5,204.2 on Monday — will prove painful for long-short equity funds, most of which are positioned for rising markets.
MIAMI (CBS4) ― The documentary, “Obsession: Radical Islam’s War Against the West,” a DVD distributed nationally inside certain newspapers, is being alluded to as inflammatory by Muslim groups in South Florida, showing scenes encouraging children to become suicide bombers.
Altaf Ali was shocked when he opened his Sunday paper and found a copy of the DVD. He is the director of the Florida Chapter of the Council on American Islamic Relations.
He explained to CBS4 Reporter Ileana Varela that he has gotten numerous calls from Muslims worried the DVD will promote hate and bigotry against their community.
“Obsession” had been inserted into newspapers aimed at voters in the battleground states in order to raise security concerns ahead of all other issues in the election.
There has been no traditional distributors picking up the film, and this month, it was distributed in more than 70 newspapers across the nation, including The Miami Herald.
The Clarion Fund paid millions of dollars to get the DVD out. It’s a non-profit organization that claims to focus on national security and is listed with contact information below the credits.
The DVD release was timed to coincide with the seventh anniversary of the terrorist strikes of Sept. 11, 2001.