Countries like China will be obliged to take even less Iranian oil over time to continue to avoid American attention.
Investor frustration regarding the inability of most crude oil ETFs to successfully track the spot price of oil over time is well documented.
Of course that should be done but to date there is no evidence that we will be able to generate enough energy from these sources to replace oil any time in the near future.
Mr. YERGIN: This is the fifth time that we've run out of oil, and the last time we ran out of oil was in the 1970s, and since then, we've increased production by about 60 percent.
The government's new investment and export-promotion department aims to lure enough foreign companies to the country to provide jobs for most of Oman's school-leavers by the time the oil runs out in 15 years' time.
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Mr. Monis doesn't salt or oil fish ahead of time because salt draws out precious moisture and oil can cause flare-ups that mar the meat's delicate flavor.
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But every time oil prices go up, gas prices go up here and in Europe.
Each time oil prices more than tripled, followed by a downturn in the world economy.
The last time oil spiked upward, into the summer of 2008, no such rebellions or revolutions existed.
And today we are less dependent on foreign oil than any time in the last two decades.
According to some economists, every time oil prices rise by 10 percent, on average 150, 000 Americans lose their jobs.
Special offer: The last time oil prices retreated, smart investors made gains of 40% and more buying cheaply priced oil services stocks.
As those methods mature , they become less costly (and, eventually, rather conventional), increasing supply and putting downward pressure on oil prices over time.
Special offer: The last time oil prices retreated in the fall, smart investors made gains of 40% and more buying cheaply priced oil services stocks.
The last time oil was this high was Sept. 26, 2008, the last trading day before the U.S. House rejected the first bank bailout bill.
And today, the United States of America is less dependent on foreign oil than any time in nearly two decades. (Applause.) That's what we've done.
In other words, the investors that Messrs Lieberman and Ghanem accuse of unfounded speculation may instead have concluded that the world will be short of oil for some time to come.
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The prosecution's star witness, one-time oil industry executive Bill Allen, has testified that he sent people on his payroll to work on the Stevens renovation, and that he absorbed tens of thousands of dollars in labor and material cost.
But in the early hours of this morning they will burning the midnight oil one last time as Australia's latest national hero cycles down the Champs-Elysees wearing a yellow jersey and with a flute of champagne in his hand.
The issue of energy efficiency and everything we need to do to shift away from dependence on foreign oil, we're making huge progress. (Applause.) We're actually importing less oil than any time in the last eight years.
This is obviously big time oil.
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Second, my plan will cut our oil imports in half by 2020 so we control more of our own energy here in America. (Applause.) And by the way, today we are less dependent on foreign oil than any time in 20 years.
This increase will allow us to further intensify this already historic response, contain and remove oil more quickly, and help minimize the time that any oil comes into contact with our coastline.
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.
In one of those coincidences that look corny in novels but happen all the time in real life, the price of oil hit an all-time high this week just as President Bush was signing the new energy bill into law.
Dearer oil had been on the cards for some time, as the oil producers strengthened their cartel, partly as a consequence of the massive rise in the demand for oil from the rapidly-growing industrial countries.
The company bought oil rigs at low prices from Seahawk Drilling, another oil company with debt on the balance sheet, at a time when larger oil companies are spending cash to rebuild rigs, they say.
What's more, oil's share of the global energy market is down from almost 50% at the time of the oil shock of 1973.
Today America is less dependent on foreign oil than at any time in two decades.
WHITEHOUSE: Remarks by the President at Ohio University, Athens, OH
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