Free Republic

SAUDI Arabia, the world’s largest oil producer, is planning to boost future production capacity by 1.5m barrels a day to counter potential supply disruptions expected from Iran, Venezuela and Iraq. The Kingdom, which owns 25% of the world’s proven reserves, has previously said production capacity would be sustained at 12m barrels. But in a private briefing to investment bankers on Thursday, executives at Lehman Brothers in London were told by representatives of the Kingdom that the revised figure for production will be up to 13.5m barrels a day by 2011. They were presented with an “updated assessment” document entitled Saudi...

China hit by strongest typhoon for half a century · 1.5 million evacuated, state of emergency declared· Summer of damage for storm-devastated region Jonathan Watts in Beijing Friday August 11, 2006The Guardian (UK) The most powerful typhoon to strike China for half a century tore into one of the country's manufacturing heartlands yesterday, killing at least two people, injuring 80 and forcing the evacuation of 1.5 million residents. With winds of up to 135mph, typhoon Saomai hit the coastal town of Mazhan in Zhejiang province, dumping a torrent of rain on a region still recovering from earlier floods. A dozen...