Monday, July 19, 2010

[RED DEMOCRATICA] CFR.org Daily Brief, July 19, 2010

 

From the Council on Foreign Relations

July 19, 2010

View this newsletter as a web page on CFR's website.

EXECUTIVE SUMMARY

- U.S. Fears BP Oil Well Leakage
- Iraq Local Forces Targeted in Bombings
- Clinton Unveils Projects for Pakistan
- 5 Somalis Die in Mogadishu Battle

Top of the Agenda: U.S. Fears BP Oil Well Leakage

The U.S. government is worried oil may be leaking (BBC) from the seabed near the damaged Gulf of Mexico oil well that BP capped last week. BP had hoped the cap could stay in place until relief wells stopped the leak altogether, but pressure readings within the well are lower than expected, meaning that some oil could be leaking undersea. The U.S. official in charge of clean-up, Thad Allen, ordered BP to submit a plan to reopen the capped well if seepage is confirmed, and such a plan would aim to funnel oil to the surface. BP is concerned this process could take three days to start and allow tens of thousands of barrels of oil to resume spilling into the water.

In a statement Monday, Allen authorized BP to keep the cap on the well (AP) for another twenty-four hours.

Federal investigators are looking at whether better coordination (WSJ) between BP and Transocean might have prevented the spill.

Analysis:

On TIME.com, Bryan Walsh says the odd chain of events on testing the well cap indicates another split between BP and the government and raises the question of who is in charge.

The volume of oil that leaked may never be known if the well is not reopened, potentially allowing BP to evade liability (NYT).

Background:

Read U.S. President Barack Obama's remarks on the BP cap.

MIDDLE EAST: Iraq Local Forces Targeted in Bombings

Two suicide bombings targeting local Iraqi forces killed at least forty-eight people southwest of Baghdad on Sunday, raising concerns about the strength of local forces amid a drawdown of U.S. troops (WashPost).

Iran: Iran has used a small Iranian-owned bank in Germany, the European-Iranian Trade Bank AG, to evade sanctions (AFP) on blacklisted firms involved in Iran's nuclear program.

Decades of economic and diplomatic sanctions have failed to substantively alter the actions of the Iranian regime, especially regarding its nuclear program, says this CFR.org Backgrounder. But experts say they remain an important tool to isolate and pressure Iran.

PACIFIC RIM: China Surpasses U.S. Energy Consumption

The International Energy Agency says China has surpassed the United States as the world's biggest energy consumer (WSJ), consuming 4 percent more oil than the United States last year.

ASEAN: Tension on the Korean peninsula, elections in military-ruled Myanmar, and the question of nuclear arms development in former Burma will dominate the meeting of Asian foreign ministers (Reuters) this week in Vietnam.

SOUTH AND CENTRAL ASIA: Economic Projects for Pakistan

The Obama administration persuaded Afghanistan and Pakistan to take a first step toward bilateral trade agreement (WashPost), just before Secretary of State Hillary Clinton's arrival in Pakistan for a two-day visit. Clinton also plans to unveil another bilateral agreement for $500 million in new U.S. economic assistance to Pakistan.

As the United States and India move toward cementing their relationship, India's rival, Pakistan, is broadening its ties with China.

India: India's petroleum secretary said the latest round of U.S. sanctions against Iran could complicate the activities of Indian state-controlled companies (WSJ).

AFRICA: 5 Somalis Die in Mogadishu Battle

At least five people were killed during a battle between Al-Shabaab(AP) militants and government forces backed by African Union peacekeepers in Mogadishu.

This Backgrounder examines Somalia as a terrorism haven.

This recent Council Special Report argues for a new U.S. approach to dealing with a failed Somalia.

Sudan: An Amnesty International report accused Sudan of using arrests and torture to brutally suppress dissent, days after the International Criminal Court filed charges of genocide (AFP) against Sudanese President Omar al-Bashir. Read the report (allAfrica).

This Backgrounder examines Sudan's fractured internal politics.

AMERICAS: Mexican Gang Attack Kills At Least 17

Suspected drug gang members burst into a birthday party in the northern city of Torreón and opened fire (NYT), killing at least seventeen people.

EUROPE: IMF, EU Suspend Loan Talks with Hungary

The IMF and EU suspended negotiations on a $25.1 billion emergency loan package to Hungary (DeutscheWelle), stressing that the country needs to take more stringent measures to reduce its deficit to attract domestic and international investors.

Ireland: Moody's cut Ireland's credit rating (Reuters) to Aa2, a day ahead of a scheduled sale of up to 1.5 billion euros of Irish debt.

TRANSNATIONAL: IMF Wants Boosted Lending Capacity

The IMF wants country contributions by as early as November to boost its lending capacity to $1 trillion from $750 billion to build safety nets that would avert financial crises.
 

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