Given their huge stockpile of national savings from the oil boom years, plus plenty of continued income despite the drop in oil prices, Kuwaitis can probably afford to go on bickering anyway.
They would be better off had they hedged against higher oil prices years ago.
McCain acknowledged, this week, his offshore drilling plan would not produce any additional oil for years.
Today, there are many fewer US and European workers in Saudi Arabia than during the oil boom years of the 1970s and early 1980s.
Nieto's PRI party -- the very party that nationalized Mexican oil 80 years ago -- is expected to vote this weekend to approve the new policy.
Ambassador GUIJIN: (Through Translator) The Western countries and Western oil companies have, for years, carried out oil exploration in the most oil-rich regions in the world.
"Experts in the oil industry have been saying for a number of years now that there is not enough oil left in the ground to continue our current level of consumption, not to mention no way to meet growing demand, and we can expect half as much oil available to us in the next 20 years, " said Andy Kunz, president and CEO of the rail association.
It is estimated that the installation will save 34, 000 barrels of oil over 30 years.
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We have enough coal, when converted to liquid fuel, to replace oil for 200 years.
The Awa started to fight the takeover of their territories for palm oil plantations 16 years ago.
For five years oil refiners have been coining money, as capacity fell just a little short of demand.
This graph is consistent with a world surplus of oil in coming years.
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Simmons prophesies that in ten years oil will be down to 60 million bpd and natural gas production will be off 20%.
It discovered the biggest offshore oil find in years back in 2007, off the coasts of Rio de Janeiro and Espirito Santo states.
With the continued investment of world oil, the U.S.A. and Canada, the oil sands would be able to supply North America with over 300 years of oil at todays consumtion rate.
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If the supply is cut off even for a few days, modern economies come to a halt, as Britain discovered when tax protestors blockaded some domestic oil depots two years ago.
The second category of losers would be the economies of East Asia, which the International Energy Agency says will be the main consumers of Persian Gulf oil in the years ahead.
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If you know the history of global oil in the years before World War Two, then you realize there is nothing new about America enjoying energy independence as Asia worries about its own needs.
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No oil and gas is flowing yet, but if all goes well in Iraq, Oryx states in its prospectus that it could be handling as much as 300, 000 bpd of oil within five years.
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The same is true of China, which has a currency peg to the dollar and is thus fully exposed to the rising oil price, and has also, like many other developing countries, become much more reliant on oil in recent years as their economies have moved from agriculture to heavy manufacturing.
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The same is true of China, which has a currency peg to the dollar and is thus fully exposed to the rising oil price, and has also, like many other developing countries, become much more reliant on oil in recent years as its economy has moved from agriculture to heavy manufacturing.
Legacy of an Oil Spill: Ten Years After the Exxon Valdez is sponsored by the Exxon Valdez Oil Spill Trustee Council and the Alaska Sea Grant College Program.
That was rebound growth from the late 90s crisis years, coupled with steadily rising oil prices in the bubble years between 2000 and 2007.
The IEA has warned of an oil supply shock within five years and on Thursday raised its oil demand forecast for 2010 to 86.5 million barrels a day.
Federal acreage onshore and offshore holds more than 2, 000 trillion cubic feet of natural gas (about 75 years worth of current domestic consumption) and 229 billion barrels of oil (about 50 years worth).
Over the past four years, US oil production has posted strong gains after nearly 40 years of steady declines.
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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The experienced management of American Eagle Energy has extensive oil exploration, development and production expertise, focusing in recent years on exploiting oil-prone formations in the Northern Rockies and Bakken Resources.
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Chavez, though cancer-stricken in recent years, had led the oil-rich Latin American nation for years by espousing a fiery brand of socialism.
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