News bites: Risky business around the world

Energy risks abound for nations across the globe.

The Los Angeles Times reports on the European Union’s oil embargo against Iran taking effect as Iranian officials announced new military exercises.

Reuters reports that falling oil prices “could trigger a prolonged slump in Russia.”

The Associated Press reports that Iraq’s oil revenues fell sharply from May to June.

The Wall Street Journal reports that India is “facing an energy crisis that is slowing economic growth in the world's largest democracy.”

Back in the United States, AP reports that utilities are trying to restore power to 3 million people after violent storms two days ago left many sweltering in the heat wave.

The Houston Chronicle looks at environmentalists’ campaign against Shell’s Arctic drilling plans.