With many oil companies cutting investment and production, the price may well be higher than that by the time the oil comes up from below the ocean.
"He came to us before the 2008 election and said that everyone keeps talking about reducing oil reliance and cutting greenhouse gas emissions, but no one knows which approaches are more cost-effective than others, " says Phil Sharp, president of RFF.
Oil-industry analysts believe that cutting the flow of Saudi oil to the U.S. would be painful--but far from fatal--to the U.S. economy.
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And cutting our oil dependence by a third is part of that plan.
The Japanese Prime Minister Yoshihiko Noda has said he will consult the business community before making a final decision on cutting any oil imports from Iran.
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The second thing buoying MLPs is that there's a buyer's market for pipelines and other so-called midstream assets, which asset-cutting big oil companies and bankruptcy-mired Enron are selling off.
So the Unger Report releases its eight-point plan for cutting back on oil consumption this summer.
Point three for cutting back on oil, turn your home into colonial Williamsburg.
Oil prices could surge, cutting demand for other goods and services.
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And the Unger Report eight-point plan for cutting back on oil involves a bonus ninth point, just sit in your car and listen to NPR until your battery dies.
Interface built the carpet industry's most oil-independent cost structure while cutting its greenhouse gas emissions 82%.
Farmer's markets known as "Kiosks" sprang up providing city-dwellers with access to locally-grown fruit and vegetables, cutting the use of oil in transporting food in from the countryside.
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It is also in the midst of cutting back desperately needed oil supplies to countries in Eastern Europe such as Czechoslovakia, Hungary, Poland, and Bulgaria by some 20-30 percent.
Until that's settled, Uncle Sam doesn't want any oil company, American or otherwise, cutting deals with any group.
And the President has a very long-term vision about where we need to go in terms of cutting our dependence on foreign oil, investing in clean energy, investing in renewables.
On oil subsidies, he says he believes in cutting corporate tax rates.
The oil company was in financial straits in the early 1990s when oil prices were low, but instead of cutting his losses, Li increased his shareholdings.
Those costs would only increase, possibly exponentially, in the event regulators responded to public concerns that further oil leaks might emanate from offshore platforms by cutting back on production in the Gulf of Mexico.
The rising cost of imports added significantly to the overall figures, as iron ore imports were up 83 percent in value during the quarter, with soybeans up 25 percent, crude oil up 39 percent, and metal-cutting machinery up 72 percent in value.
And that's why my administration will keep cutting red tape and speeding up new oil and gas permits.
By the early 1990s, with oil money tapering off and the Sultan of Brunei cutting back on his jewelry purchases, Graff decided his shop near Harrods needed an upgrade.
As the big oil firms have sacked thousands of staff in cost-cutting drives, the independents have recruited geologists and engineers.
Local activists in the Niger Delta, which produces most of Nigeria's oil, regularly kidnap oil workers for ransom or smash installations, sometimes seriously cutting production.
Mr. McClendon pledged that it was "now time to transition" from being an aggressive company that discovered and leased new oil and gas fields to one that would focus on cutting costs and delivering "exceptional returns" for investors.
High crude oil prices would result in high fees charged by MasterCard, cutting into the margins of the gas station owner.
Crude prices have retreated somewhat after a senior OPEC official stated that the oil market was oversupplied and that Saudi Arabia has responded by cutting output.
According to this report, a worker on the rig was cutting a pipe that he may not have realized had oil in it, when the oil ignited.
In California this November, voters will be offered an initiative that cuts the use of oil by 25 percent and creates new funding to support innovation and cutting edge technology.
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