Within two decades, IEA analysts expect Iraq to surpass Russia to become the second largest oil exporter.Iraq is coming back on the scene just when demand for oil was poised to surge in a way that threatens to drive up oil and gasoline prices to destabilizing levels. The world got a glimpse of what surging demand in emerging markets can do to oil prices when the price of premium crude shot up to an unprecedented $145 a barrel in July 2008 the last time the world economy was experiencing robust growth. Economy into recession even before the global financial crisis hit months later..

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Government to investigate more than 80 Chinese laws and practices that appear to violate China’s WTO commitments. In the last year, Congress has let expire two vital tax credits for advanced energy manufacturing. The lesson from the Solyndra bankruptcy cannot be that the government should stop providing loan guarantees for promising new technologies.