It was a smallish buyer and a member of the RSPO, with a palm-oil policy in line with the industry standard.
If we accept that these three principals are guiding Saudi oil policy, we have to conclude that they are producing at capacity.
Thus, Baduel has tried to bring Venezuelans into a debate on national issues of importance such as oil policy and how to use oil resources and oil income.
Against stiff odds, he has held a referendum on a new oil and gas policy (which stops short of renationalising oil companies but does impose higher taxes on them).
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But, under the basic law's draft, the government in Baghdad would be responsible for defence as well as oil and foreign policy.
And the Bush administration's policies have driven up the price of oil, while its energy policy has made us more dependent on foreign oil and gas.
The government is also looking to tweak its taxation policy on oil to make technically challenging exploration more lucrative to foreign players.
Since these savings are in unaudited funds, it is hard to judge how long the government can withstand a low oil price without big policy changes.
To understand the power the Federal Open Market Committee has on the price of oil, consider this quick review of the relationship between monetary policy and the price of oil.
But by looking at the region exclusively through the oil lens, he reduces foreign policy to simplistic energy imperialism, concluding with exaggerated visions of endless energy wars, floods of refugees, oil price shocks and ever-growing foreign military commitments.
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This strained logic will only delay development of a coherent energy policy, so oil prices will remain volatile.
Further, by keeping an artificial lid on pump prices until recently, Indian policy encouraged these oil sector producers to look for clients overseas.
To be fair and blunt the political unrest in the Middle East will have more to do with pushing oil prices higher than monetary policy for the time being.
Mr Allawi is tightening his hold on government, setting up committees for oil, security and media policy to ensure the key portfolios remain in his, not his ministers', hands.
The Fed inadvertently triggered the bubble in oil prices through its inflationary monetary policy.
His policy to nationalize the oil and gas industries has alienated foreign governments and investors.
The 2008 oil-price spike and 2009 policy shifts all helped too.
For example: OGX was supposed to be the new Brazilian Petrobras, a state owned juggernaut that exists more as a policy instrument than as an oil and gas explorer.
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So without a major change in our energy policy, our dependence on oil means that we will continue to send billions of dollars of our hard-earned wealth to other countries every month -- including countries in dangerous and unstable regions.
They argue that Mr Bush has in effect let the oil industry dictate the state's environmental policy.
Only a small shift in national energy policy to favor natural gas over oil would make this play even more attractive as cars shift to natural gas from oil as their primary fuel.
They also provide a clearer picture of a country's oil earnings, an important U.S. policy goal.
The oil and gas industry has also prevailed in Russian policy towards the Caspian Sea.
Similarly, the Saudis have rejected the use of oil exports to America as a lever to force policy changes.
Ms. ELISA DAVIDSON: I'm not a big fan of how much of our foreign policy seems to be based ultimately on oil.
According to the World Policy Institute, coal-and-oil-fired power plants consume roughly twice the water than that of gas-fired facilities while nuclear generation needs three times that of natural gas.
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The combination of higher volumes of domestic oil and gas being pumped and the loosest monetary policy in history should make mid-stream master limited partnerships one of the safest bets for 2013.
Specifically, the Center recommends that the United States and its allies agree to a firm policy on the immediate release of Western oil stocks in the event of any disruption of oil supplies or price increases caused by speculators.
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