Word: barreler
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Dates: during 2000-2009
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...sunny Friday morning two summers ago, Daniel Vasella got quite a wake-up call. Outside his lakefront home near Zug, Switzerland, gigantic speakers blasted Wagner's Gotterdammerung loud enough to rattle the windows. From across the lake, several boats carrying protesters converged on his house. A helicopter delivered a barrel marked with a skull and crossbones to one of the boats. Baffled, Vasella watched as the barrel was ferried to shore and plunked on his lawn...
...Gore wins the Nobel Peace Prize - and an Oscar. Hardly a day goes by without major corporations like Wal-Mart announcing new green initiatives. Priuses are still hot, oil is near $100 a barrel and even Detroit is hyping fuel efficiency. With all that attention, global warming is surely set to become one of the biggest issues of the 2008 Presidential campaign, right...
...what the Norwegian firm lacks in size, it could well make up for in expertise. Many onshore reserves, which are relatively easy to exploit, are being depleted. So Big Oil is being forced offshore into increasingly complex projects, often at great depths and in harsh conditions. "Each barrel of oil produced tomorrow contains a higher degree of R&D than a barrel produced yesterday," Reiten, a former Norwegian Minister for Petroleum and Energy, told TIME a couple of days before his resignation. With StatoilHydro's decades of experience operating in the tricky terrain and climate off Norway's coast...
...April 1980, oil prices went stratospheric, peaking at about $100 a barrel, adjusted for inflation. Some of the causes might sound familiar. Constantly rising demand. Political crises in Iran and Iraq. Uncertainty about the extent of future reserves. And, of course, the edgy enthusiasm of commodities buyers, whose fears drive up the price...
...Forecasting prices, however, has become an increasingly inexact science for analysts, as prices in recent months have galloped ahead of their worst predictions. Says Oswald Clint, a London-based analyst for Sanford Bernstein: "A year ago, our predictions for November 2007 were about $50 to $62 dollars a barrel" - at least $35 short of Tuesday's price. The oil-research firm predicts that expanded production will bring oil prices back to $70 a barrel by 2010. But to Birol, that sounds optimistic...