So more profits are generated per barrel of sweet, light than heavier or sour crude oils.
From 1999 to present, the price of crude oil per barrel has increased by 650 percent.
Nonetheless it closed the year costing 44% more per barrel than at the start of 2002.
Light crudes also produce more gasoline than heavy crudes on a per barrel basis.
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On a per barrel basis, much less gasoline or heating oil will be produced.
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Every crude petroleum source material can produce so many gallons of gasoline and other distillates per barrel.
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That is, unless the economy slows substantially and oil prices spike by more than a few dollars per barrel.
If the play pans out, even more money could pour into Ohio via royalties, typically 12.5% per barrel of oil.
Further the number of gallons of gasoline produced per barrel heavy crude oil is lower than for light crude oils.
Because oil always returns to its average value of 0.0735 ounces of gold per barrel, there is an opportunity for arbitrage.
Then there's oil, and after the wild fluctuations in 2008, the setting of the price per barrel also came under scrutiny.
And of course, we're always watching the price per barrel of oil because that sort of plays into just about everything.
In other words, what is the dollar amount per barrel that would be required for an oil-producing country to balance its fiscal budget?
Under the new rule, importers are prevented from knowing the price of Iraqi oil per barrel until after they have taken possession of it.
All this heating, plus refining bitumen into something approximating everyday petroleum, gobbles 1, 300 to 2, 100 cubic feet of natural gas per barrel of crude produced.
Using his country's oil money and an oil price over seventy dollars per barrel, the first step is to build strong support within Latin America.
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We forecast the price per barrel of crude oil and NGL based on data reported by the company, the Energy Information Administration and our own estimates.
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It remains to be seen how Iraq could impact oil prices, but the price per barrel for crude has seen double-digit declines over the past month.
On a per barrel basis, fewer workers are needed than ever before and since there are fewer barrel produced each year, the total employment will not increase.
Light, sweet crudes are cheaper to pump, transport, and distill and produce more gasoline per barrel than other types of crudes so it generally goes for more dollars per barrel than others.
Sweet light crude oil yields the most gallons of gasoline per barrel of oil and since it has low viscosity and low density, it is comparatively inexpensive to pump, transport, and refine.
The Administration proposes to increase the tax that oil companies pay to finance the Oil Spill Liability Trust Fund from 8 cents per barrel (per 42 gallons) to 9 cents per barrel starting this year.
Long before vast numbers of such Flexible Fuel Vehicles are on the roads, the OPEC cartel-induced speculative bubble that has contributed to the recent run-up in the price per barrel of oil will be lanced.
Fuel costs are roughly one third of expenses and WTI has climbed back up to the mid-nineties per barrel so the spiral of fare increases and capacity reductions will continue making travel even less tolerable than it already is.
And while they say there can be significant variations in some of these, it seems one of the reasons Brent crude continues to appeal is that there's least variation in its price, at around one US cent per barrel over a long period.
This increase in the oil spill liability tax moves forward a planned increase in 2017 of 1 cent per barrel, and sets a tax of 10 cents per barrel starting in 2017 to make sure that there is long-term oil industry financing for the Trust Fund.
However, it says while average emissions per oil barrel are declining, since the demand for oil production has increased, overall emissions have increased as well.
Back when oil cost three- and four-dollars-per-barrel, the increased use of ethanol was blamed for high food prices, food riots and starvation of the poor.
Bush and Obasanjo were scheduled to retire to the White House shortly after the Rose Garden announcement to discuss a wide variety of issues -- most notably Bush's hope to convince OPEC to boost its daily per-barrel production of crude oil, as the U.S. anticipates a supply shortage heading into the summer.
In the U.S. demand has been growing robustly, now consuming 19.2 million barrel per day.
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