Iran's economy is now shrinking by 1 percent a year. Its oil production is down 40 percent.

Our bottom line, if you want to call it a red line, president's bottom line has been that Iran will not acquire a nuclear weapon and we will take no option off the table to ensure that it does not acquire a nuclear weapon, including the military option.

In the big oil shocks that really damaged the economy, the tax on the consumer was many times more than that, but that alone wasn't enough. You also had to have people worrying that prices were going higher forever.

Oil prices are effectively a tax and we want a low-tax global economy. I am happier with lower prices, even if the profits of oil companies come down.

This project is hanging by a thread. Chad remains unprepared for the complexities of an economy increasingly dominated by oil.

Cameroon's current oil revenue does not enter the local economy. Oil revenues go abroad to the overseas accounts of the elite.