Oil is a stew of hydrocarbon molecules.

It follows that the use of force should not be recognized as a general solvent of treaty obligations.

Working in conjunction with risk management software, the sensor system was reducing the risk of potential environmental contamination from hydrocarbon spillage.

But in order to do this, one of the things we really need to do, is we need to remember we are people of the hydrocarbon.

What it turned out, that all that we are seeing, all this liquid, is made of hydrocarbon and ethane and methane, similar to what you put in your car.

These include fisheries police activity in the South Atlantic, seismic hydrocarbon surveying activities and the granting of licences for the exploration and exploitation of minerals and related aeromagnetic surveying activities.

And it turns out that ants will respond to the right rate of contact with a glass bead with hydrocarbon extract on it, as they would to contact with real ants.

TEAP had noted that since the last CTOC report in 2002, no new alternative solvents had been developed and it was unlikely that there would be new solvent alternative breakthroughs.

But this approach does not work. If macroprudential policy limited additional credit to marginal borrowers effectively, monetary policy would have no impact on demand (as long as the most solvent agents refuse to spend more).

Sovereign wealth funds, too, are increasingly involved in financing development. But, despite being state owned and subject to policy decisions, they function as commercial enterprises (with the possible exception of Norway s hydrocarbon funded state owned investment vehicles).

For example, adequate transport and broadband infrastructure favors the burgeoning of business initiatives. At a time when markets are willing to lend to solvent governments at historically low rates, there should be little room for hesitation.

Eurobonds would cut borrowing costs for the European Union s two large troubled members. And it would spare German and other taxpayers from the EU s solvent northern countries from having to fund yet another bailout of a southern member state.

But, by lowering long term interest rates, central bank purchases of government debt can help contain government debt service. In this way, QE can keep solvent a government that otherwise would be insolvent a nightmare scenario for a central bank.

Fourth, large scale liquidity provision for solvent governments is necessary to avoid a spike in spreads and loss of market access that would turn illiquidity into insolvency. Even with policy changes, it takes time for governments to restore their credibility.

China has managed to secure new hydrocarbon supplies through pipelines from Kazakhstan and Russia. But this option is not available to Asia s other leading economies Japan, India, and South Korea which are not contiguous with suppliers in Central Asia, Iran, or Russia.

Indeed, the Fed, unlike the ECB, does not buy any bonds from individual states investors must bear the costs of any state insolvency. In 1975, New York had to pledge its future tax revenues to its creditors in order to remain solvent.

The logic is that conditionality will ensure that countries are solvent, while OMTs will restore trust to a market that has broken down because investors fear that the countries concerned will exit the eurozone. Again, its effect, thus far, has been significant.

The Technology and Economic Assessment Panel has reported that, over the past few years, the use of n PB has grown in some areas, including as an industrial solvent, and that current use estimates range from 2,200 metric tonnes to 9,100 metric tonnes.

It would also help if creditors understood that their contributions, like their decades of support to cohesion funds, will not impoverish them (by, say, depleting their public pensions). On the contrary, creditor countries will benefit from more stable, solvent commercial partners for their exports.

Resources are the available volumes of hydrocarbon without reference to constraints as to their accessibility and or cost. Resources impose an upper bound on what ultimately can be produced thus, it is the relevant concept for determining the likely dates of peak production and ultimate exhaustion.

But that debt costs only 1 2 of GDP to service, allowing Japan to remain solvent. Likewise, Greece can now manage its public debt burden, which stands at about 175 of GDP, thanks to the ultra low interest rates and long maturities (longer than those on Japan s debt) granted by its European partners.

To avoid an additional credit crunch as banks deleverage, banks should be given some short term forbearance on capital and liquidity requirements. Also, since the US and EU financial systems remain unlikely to provide credit to small and medium size enterprises, direct government provision of credit to solvent but illiquid SMEs is essential.

During the first decade of the new century, Russia benefited from the combined effect of an old hydrocarbon industry that privatization in the 1990s had made more efficient and high oil prices. The reversal of sought after economic diversification, and the reduction of modernization to little more than a slogan, caused no immediate concern.

In recent years, aid for students at public schools and maternity assistance for pregnant women at health centers have been created, but these have a greater political than economic impact. Indeed, Morales s economic initiatives usually turn out to be empty, such as his deals with Venezuela for hydrocarbon supplies and with India for iron.

If savers in Portuguese banks start moving their money to Germany, the ECB will recycle these euros back to Portugal through interbank deposits. Again, there is no limit to how much money the ECB can recycle, provided Portuguese banks remain solvent which they will, so long as the ECB continues to buy Portuguese government bonds.

Without central bank involvement, investors panicky prophecy would be self fulfilling, with the resulting spike in borrowing costs making it impossible for the government to repay its creditors. In other words, prohibiting the central bank from acting as lender of last resort can push solvent economies into a needless debt crisis, undermining output and employment.

But governments soon realized that the main issue was solvency. They pledged to implement programs aimed at asset purchases (to clarify the balance sheets of financial institutions), recapitalization (to make sure that, if solvent, they could operate and continue to lend), and guarantees (to reassure depositors and some investors that their funds were safe).

This partly explains the current tensions between China and Japan over their conflicting territorial claims to islands in the East China Sea, which occupy an area of only seven square kilometers, but are surrounded by rich hydrocarbon reserves. Disputes in the South China Sea involving China and five of its neighbors, and in southern Asia, are equally resource driven.

Moreover, even under the most optimistic scenario, the US and the world will still be relying mainly on conventional fossil fuels until the hydrocarbon era comes to an end (which few of us will live to see). Last but not least, diverting vast tracts of agricultural land into fuel production has contributed to a doubling of prices for wheat and other grains.

The muddle through scenario with financing provided to member states in distress (conditional on fiscal adjustment and structural reforms), in the hope that they are illiquid but solvent is an unstable disequilibrium. Indeed, it could lead to the disorderly breakup scenario if institutional reforms and other policies leading to closer integration and restoration of growth in the eurozone s periphery are not implemented soon.

In an ideal world, distressed countries would default as soon as private markets stopped funding them, and they would impose the losses on private bondholders. In the real world, however, if Italy and Spain are viewed as being solvent, or too big to fail, official funding should be structured so that it gives these countries their best chance to regain market confidence.

The committee must enact a new hydrocarbon law that guarantees each of Iraq s factions a fair share of the country s oil wealth, which accounts for 97 of total export revenue. Under the current constitution, local governments have the right to exploit (and profit directly from) oil extracted from new sites beneath their territory, while only a share of the income from existing sites must go to Iraq s central government.

Of course, in the highly indebted peripheral countries, there was room for interest rates to fall and for credit supply to grow and they have, leading governments and households to increase their spending. While the asymmetrical impact of the ECB s policy is appropriate in principle (because unemployment is much higher in the periphery), the reality is that a recovery supported by the least solvent economies is not sustainable.

In North America, the shale energy revolution in the US, Canada s oil sands, and the prospect of more onshore and offshore oil production in Mexico (now that its energy sector is open to private and foreign investment) have made the continent less dependent on Middle East supplies. Moreover, South America holds vast hydrocarbon reserves, from Colombia all the way to Argentina, as does East Africa, from Kenya all the way to Mozambique.

South Korea s evolving foreign policy also may involve moving closer to China, as Korean nationalists join the Chinese in resisting Japan s rival claims to potential hydrocarbon deposits in the East China Sea and the Sea of Japan. New generations of South Koreans, who have no personal recollections of and perhaps only casual interest in the Korean War, apparently resent what they regard as America s undermining South Korea s sunshine policy toward North Korea.

Such measures would serve notice to investors that they cannot hope to be saved by the printing press in times of crisis, and would thus compel them to demand higher interest rates or deter them from granting credit in the first place. This would lead to greater discipline among the eurozone s indebted countries and save Europe from a debt avalanche that could ultimately drive currently solvent states into bankruptcy and destroy the European integration project.

Because, many of you will know, that the biggest pollution burden that we have on the New York, New Jersey harbor right now is no longer the point sources, no longer the big polluters, no longer the GEs, but that massive network of roads, those impervious surfaces, that collect all that cadmium neurotoxin that comes from your brake liners or the oily hydrocarbon waste in every single storm event and medieval infrastructure washes it straight into the estuary system.

But insufficient and sometimes counterproductive actions, coupled with panic and overreaction in financial markets, have brought some countries, such as Spain, which is a fundamentally solvent and strong economy, to the edge of the precipice, and with it the whole eurozone. In the immediate short run, nothing makes sense, not even a perfectly good public investment project, or recapitalization of a bank, if the government has to borrow at interest rates of 6 or more to finance it.