Morning Brief: Gas hits $4
Top Story Darren Hauck/Getty Images The average gasoline price in the United States has surged to a record $4 per gallon. Goldman Sachs expects crude prices to hit $150 a barrel this summer. Even BP’s CEO admitted that “supply is not responding adequately to rising demand.” G8 countries, meanwhile, issued a statement Sunday committing themselves ...
Top Story
Top Story
The average gasoline price in the United States has surged to a record $4 per gallon. Goldman Sachs expects crude prices to hit $150 a barrel this summer. Even BP’s CEO admitted that “supply is not responding adequately to rising demand.” G8 countries, meanwhile, issued a statement Sunday committing themselves to cutting oil consumption.
Global Economy
Stock markets tanked Friday after a lousy U.S. jobs report and hedge funds unwound their bets on declining oil. Instead, West Texas oil rose by a record $11.33 on the day. Asian markets followed the Dow downward Monday.
Timothy Geithner, chief of the Federal Reserve Bank of New York, is calling for a global regulatory framework for finance.
Newsweek‘s Daniel Gross on why the economy is worse than you think.
Americas
Venezuelan President Hugo Chávez urged FARC to end its guerrilla war.
Its top two leaders were fired last week. What’s next for the U.S. Air Force?
Decision ’08
The New York Times asked 13 leading politicos to diagnose what went wrong with Hillary’s Clinton’s White House bid.
The Washington Post looks at how the Iraq war may define the coming campaign.
Meet the foreign-policy teams of Barack Obama and John McCain.
Middle East and Africa
Visiting Tehran, Iraqi PM Nuri al-Maliki promised that Iraq’s territory would not be used to launch an attack on Iran. Iran is seeking a defense pact with Iraq.
Northern and southern Sudan have reached a preliminary agreement on Abyei, a disupted, oil-rich area along the (also disputed) boundary between north and south.
A free and fair election in Zimbabwe is impossible, according to Human Rights Watch. Also: Why does South Africa’s Thabo Mbeki keep covering up for Robert Mugabe?
Asia
Pakistan’s President Pervez Musharraf, responding to the ruling party’s bid to cut his power, vowed he would not become a “useless vegetable.”
Terrorist networks are being methodically dismantled in Southeast Asia, according to regional officials.
First Lady Laura Bush visited Afghanistan.
Europe
Spanish truckers are striking to protest high fuel prices.
Western energy companies are still paying fealty to Russia despite weak property rights.
Italy is shipping its trash to Germany.
Today’s Agenda
U.S. President George W. Bush leaves for an eight-day trip to Europe today. FP alum James Forsyth gives his take for the Washington Post.
German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Bavaria this week.
Australia and Japan are holding high-level talks in Tokyo.
The Apple rumor mill expects Steve Jobs to debut a new iPhone today.
Blake Hounshell is a former managing editor of Foreign Policy.
More from Foreign Policy
America Is a Heartbeat Away From a War It Could Lose
Global war is neither a theoretical contingency nor the fever dream of hawks and militarists.
The West’s Incoherent Critique of Israel’s Gaza Strategy
The reality of fighting Hamas in Gaza makes this war terrible one way or another.
Biden Owns the Israel-Palestine Conflict Now
In tying Washington to Israel’s war in Gaza, the U.S. president now shares responsibility for the broader conflict’s fate.
Taiwan’s Room to Maneuver Shrinks as Biden and Xi Meet
As the latest crisis in the straits wraps up, Taipei is on the back foot.
Sign up for World Brief
FP’s flagship evening newsletter guiding you through the most important world stories of the day, written by Alexandra Sharp. Delivered weekdays.
By submitting your email, you agree to the Privacy Policy and Terms of Use and to receive email correspondence from us. You may opt out at any time.