And of course it didn't help that oil set a new high with its largest single-day gain, putting further pressure on consumers who are already sweating record gas prices.
Such gratitude is not, of course, due the Saudis - who, we are endlessly told, are among our most reliable "friends" in the Middle East - because they are working to drive down the price of oil set by the OPEC racketeers' cartel.
Stocks fell sharply in Asia and Europe, and oil prices set fresh records in Asian trading.
All this means that the price of oil is set to drop, the bears growl.
The SNP has said it would like to see an oil fund set up in the event of independence to provide a revenue stream for future generations of Scots.
While drilling in that depth of water was prohibitively expensive a decade ago, it's now easy for a company Triton's size to rent a drillship to find the oil and set up a floating production platform to process it.
And while other sectors of the energy complex, such as natural gas and oil appear set to benefit from the fall from grace that uranium is facing, the situation in Japan has created an inflection point in the market.
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Both the oil cartel Opec and the International Energy Agency (IEA) have raised their forecasts for oil demand next year, but they say economic growth and hence demand for oil is set to remain relatively subdued in the developed world.
Europeans realize that the oil price is set by the world market, Dings said.
In Britain, oil giant BP set up a trading scheme among its own companies in 1998 and in three years reduced emissions by one-fifth.
When seismic surveys show that there is a good chance of finding oil, companies set about the delicate process of drilling an exploratory well.
However, in September the leaders of both nations signed a deal, mediated by the African Union, to resume oil sales and set up a demilitarised buffer zone.
In exchange, Iraq is being offered what amounts to a timetable for an expanded and improved version of the oil-for-food agreement (the deal under which Iraq sells a set amount of oil to pay for humanitarian relief and war reparations).
Nobody of course wants to see an oil crisis that might set prices spiralling.
The US believes oil prices should be set by market forces in order to ensure adequate supplies.
Bakken crude even trades at a discount to West Texas Intermediate (WTI), the benchmark oil for the US set by prices in Cushing, Oklahoma.
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Furthermore, we will learn how SAP is partnering with the German Development Organization (GIZ) to support Ghana in meeting the global standard for transparency in the oil and mining industries set by the Extractive Industries Transparency Initiative.
The combination of oil dependence and production constraints set up a self-sabotaging boom and bust cycle.
As finance minister, he wound up a fund that set aside some oil revenue for buying back debt.
Trenches have reportedly been dug around Iraqi cities and filled with oil, which, when set ablaze, could confuse laser-guided munitions.
But, even if the fund is set up and oil money is used for it, there is still plenty to spend on weapons.
He moved to Stavanger seven years ago to provide IT services for an oil company and has now set up permanent home in Norway.
Unconventional sources of oil and gas that are set for further exploitation include Canada's tar sands, shale and coal-bed methane deposits around the world.
In the next chapter of the Great North American Oil And Gas Boom, a wave of consolidation is set to hit the U.S. oil and gas industry.
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In real terms, adjusted for inflation, Opec's revenues in 2012 were also the highest ever, surpassing the peaks set during the oil crises of 1973-74 and 1979-81.
While some exporters will hurt - notably oil companies whose exports are set to be taxed - it is importers who will feel the brunt of the devaluation.
With that in mind, it sounds like it's time for a movie of love, loss, big bucks and dirty dealing set in the oil sands boom town of Calgary.
The fund Lula wants to set up with oil revenues could, as he says, help Brazil to overcome poverty, low standards in education and limited investment in science and technology.
Capiapo, Chile (CNN) -- Hedging their bets, officials in Chile said on Sunday they will set up an oil drill as a third option to rescue the 33 miners trapped underground since August 5.
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