"We have said all along there is dispersed oil subsurface -- that oil is out there, " she said.
To the extent that high oil prices played a role in the recessions of the early 1980s and 2008-09, the main reason is that oil-producing countries tend to have a lower marginal propensity to consume their income, denting global demand.
The deadly logic of addiction -- the drive to acquire oil at all costs -- is experienced with particular ferocity in the oil-producing states of the equatorial region and global south.
Bitumen, otherwise known as tar sand, is oil-soaked dirt that needs to be cooked to extract the oil.
But, the United Arab Emirates is an oil-rich nation containing approximately 10 percent of the world's oil reserves.
Until recently, the country - which is a minor oil producer - was unable to export oil from its existing fields in the north and east of the country because of a Western embargo.
It vies with Angola as sub-Saharan Africa's largest oil exporter, mainly to America, and is the eighth-biggest oil exporter in the world, with stated reserves of 38.5 billion barrels.
Meanwhile, the energy for everything else--offices, factories, homes and data centers is 85% supplied without oil, and most of it is delivered as kilowatt-hours. (Only a vanishingly 2% of electricity is generated by oil.) Once you connect automobiles to the electric grid, you access a trillion-barrel-of-oil-equivalent energy infrastructure almost entirely fueled by domestic sources: coal, uranium, natural gas and hydro dams.
Rosneft is buying TNK- BP, which is a vertically integrated oil company co-owned by British oil firm BP and a group of Russian billionaires known as AAR.
Malaysia is the world's largest producer of palm oil--a cheaper substitute for vegetable or sunflower oil--and it is also blessed with an abundance of forestry, fertile agricultural land and minerals like copper and iron ore.
Non-oil business is also booming: a survey of some 114, 000 non-oil companies shows an average 43.9% increase in profits.
That is partly because annual oil-price inflation is running at 17%, compared with 100% at its peak in 2008.
Nearly all the unused, and thus available installed capacity that could be ramped up quickly is oil-fired.
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One company getting high marks--an 86% approval rating across all of Reese's guru screens--is Frontier Oil Corp.
Venezuela is oil-rich, a resource of obvious importance to the American economy.
This, together with restrictive labour regulations, means that there is little non-oil foreign direct investment in Iran, except for pilot projects in the free-trade zones.
Weeks after the Apr. 22 explosion and sinking of the Deepwater Horizon in the Gulf of Mexico, BP is facing oil-slicked coastal swamps, dead fish, grieving families and howling environmentalists.
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Iran is an oil-producing state.
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This increase in the oil spill liability tax moves forward a planned increase in 2017 of 1 cent per barrel, and sets a tax of 10 cents per barrel starting in 2017 to make sure that there is long-term oil industry financing for the Trust Fund.
Marathon Oil ( MRO - news - people )(28, MRO) is the U.S.' fourth-largest integrated oil and gas firm (one, that is, combining production with refining) and the fifth-largest refiner, with a million barrels per day of capacity.
Now oil is again outside the oil-gold price ratio band, slightly, and this time to the other side.
We are very much interested in responsible but effective oil exploration and recovery, and that is why we have approved 37 shallow-water permits and why overall, as I noted, domestic oil production is at its -- last year was at its highest level since 2003.
Tatneft is the fifth-largest oil firm in Russia, while the much smaller Bashneft is still in the top ten.
Venezuela's state-owned oil company, PDVSA, is 100 percent owner of the Tulsa-based CITGO oil company.
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But this is -- simply observing where the oil is coming out is insufficient to really calculate any flow rate with any degree of accuracy.
Chad has the second largest development program, the World Bank funded program, that is the Chad-Cameroon Pipeline that is pushing oil from Chad into Cameroon and off here to the U.S. and many other cities.
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