Word: barrelers
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...wasn't clear before it should be now: the Bush Administration can't afford to attack Iran. With gas already at $4 a gallon and rising almost every day, Iran figuratively and literally has the United States over a barrel. As much as the Administration is tempted, it is not about to test Iran's promise to "explode" the Middle East if it is attacked...
...speculator told me that oil would hit $200 a barrel within minutes. But Iran's official news agency, Fars, puts it at $300 a barrel. I asked him if Iran is right, what does that mean...
...been more than a century since any major producer shipped oil in an actual barrel, but the unit has been the industry's standard since the mid-1800s, when overwhelmed Pennsylvania oilmen collected the substance in whiskey barrels after striking their first gushers. Before U.S. drilling began in 1859, "rock oil" (to differentiate it from vegetable oil or animal fat) was sopped up with rags, wrung out and peddled as a cure for everything from headaches to deafness. Spurred by demand for lamp fuel as whale blubber grew scarce, derricks popped up all over Pennsylvania's oil region...
...million bbl. With daily world demand at about 85 million bbl., petroleum represents about a third of all international cargo. And even though the commodity is also measured in kiloliters (in Japan) and metric tons (in Russia), thanks to whiskey, the units are always converted to the 42-gal. barrel for trading and selling...
...McCain is right about this. He's right that he has a far longer, far more substantive record of forging bipartisan consensus - and of resisting the demands of party loyalty - than does Obama. On the environment, energy policy, campaign finance, tobacco, torture, pork-barrel spending, immigration and more, McCain has repeatedly worked against his party or his President, or both. But the problem for McCain is that on the three issues that matter most to voters this year - the economy, health care and Iraq - it's hard to make the case that he is charting a course different from Bush...