of the region and leave small nations vulnerable to dangerous transnational organized crime networks.

The Sequoia’s crew also sought out volunteer opportunities while deployed. They conducted a high school visit with several hundred students in Koror, Palau, where Coast Guard missions and navigation, damage control and seamanship skills were showcased. A number of the crew attended the Palau Community College observance of Sept. 11, alongside local and embassy officials. A diverse team from Sequoia spent the day with the Civic Action Team at Camp Katuu in Airai, Palau, assisting with facility improvements and equipment maintenance at the joint military installation. Sequoia also transported 21,800 pounds of construction supplies and parts for the CAT significantly reducing logistics costs and shipping time. All of these efforts further the Compact of FreeLearning to live with cheaper oil in the Middle East

New oil market realities in the Middle East will force energy-exporting countries to reassess their spending plans and implement big subsidy, fiscal and labour market reforms.

The steep decline in global oil prices, by 55 per cent since last September, has changed the economic dynamics of oil exporters in the Middle East and North Africa.

Our update of the Regional Economic Outlook, released yesterday, shows that these countries are now faced with large export and government revenue losses, which are expected to reach about $US300 billion (21 per cent of GDP) in the Gulf Cooperation Council and about $90bn (10 per cent of GDP) non-oil exporters in the region.

Where prices will eventually settle is, of course, uncertain, making it hard for