The economy as a whole runs more efficiently by using less oil and producing less pollution.
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Not just oil and gas, but also wind and solar and biofuels. (Applause.) We've got to keep developing the technology that allows us to use less oil in our cars and trucks, less oil in our buildings and our factories.
As traditional oil fields yield less and less, major producers are looking for crude in less conventional places, from oil sands and shale plays to ultra deepwater.
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Natural gas emits 29% less carbon dioxide than oil and 45% less than coal, and it can be used in high-efficiency combined cycle power stations.
Because most of the big, easy-access reserves have already been tapped, the average well today is more complicated, takes longer to drill and yields less oil and gas than a decade ago.
Rich economies are also less dependent on oil than they were, and so less sensitive to swings in the oil price.
Fresh vegetables and fruit are commonly available and we use a lot of olive oil in cooking, and less animal fats than is found in British dishes.
The dollar was firmer off the back of surprisingly strong U.S. gross domestic product figures on Friday, making crude oil and other commodities less attractive.
Furthermore, points out Rainer Schaefer of Dresdner Bank, some big developing countries, such as Brazil and India, have boosted their domestic oil production and are therefore less vulnerable than they used to be.
Despite this looming deficit and the glaring price signal, all the big companies except Total produced less oil and gas in the third quarter than they did in the same period last year.
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The Goldman analysts argue the latter because oil exporters import more from Europe than America and hold less of their oil revenues in dollars.
"High oil prices are going to make people use less oil, pure and simple, " Pizer says.
Its domestic fields are said to be declining, spewing up less oil and more water.
The Geological Survey report, said Patrick Creighton, a spokesman for the Marcellus Shale Coalition, an industry group, found that oil and gas activity affected less than 1 percent of the forest area in Allegheny and Susquehanna counties.
In the first five and a half months of 2011, Canadian energy companies sold a total of 231 million barrels of oil and gas reserves, less than half the 482 million barrels sold in the same period in 2010.
In real terms, oil prices are much lower than at previous peaks and the economy uses oil less intensively than before.
But Bahrain is suffering from low oil prices and, though it has less than its neighbours, it relies on oil for 50% of government revenue.
For the environment this means far less air emissions, far less water usage and disposal needs, and far less land impacted to produce a similar amount of oil and natural gas.
Higher prices tell consumers to use less oil, and producers to go find more.
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If we have less cheap oil and fuel to burn, our carbon emissions will necessarily fall.
Houston's revival is of course rooted in the current oil and gas bonanza, though less than in the past.
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We buy more American cars than we have in five years, and less foreign oil than we have in 20.
We buy more American cars than we have in five years, and less foreign oil than we have in twenty.
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As a nation, we now buy more American cars than we have in 5 years, and less foreign oil than we have in 20 years.
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Green aficionados are familiar with the statistic that the sun bathes the Earth in trillions of barrels of energy (in oil equivalent terms), and less familiar with the fact that total known hydrocarbon resources are also countable in the trillions of barrels (from the oil-sands and ultra-deep-water sub-salt fields, to methane hydrates and coal, not to mention shale gas).
So as we replace oil with fuels like natural gas and biofuels, we can also reduce our dependence by making cars and trucks that use less oil in the first place.
And within the next thirty years the U.S. will rely less on oil from Saudi Arabia and the Middle East, and more from its own backyard, Canada and Mexico.
U.S. and Iraqi officials agree that smuggling of crude oil seems to be less than was previously thought, and some of the pipeline failures that were routinely put down to acts of sabotage may have been due to corrosion or faulty welding.
Chevron was slammed in the press for the accident, though the oil sheen was cleaned off the surface of the Atlantic in less than two weeks and no oil washed up on the famed Rio de Janeiro beaches.
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