Word: barrelfuls
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Dollars per barrel...
...unsettling return to the Reagan Era—still the cause of some mourning in America—viewers of major news programs were treated to the reappearance of 72-year-old Geraldine Ferraro, former congresswoman and the second barrel on the souped-up Daisy Air Rifle that was the 1984 Mondale presidential ticket. Ferraro was defending her claims made in that bastion of political reporting, Torrance, Calif.’s “The Daily Breeze,” that Barack Obama’s political success is tied in some way to the fact that he?...
...stakes could hardly be higher: With a U.S. recession looming and the dollar at its lowest-ever value against major currencies, oil prices reached a new record high on Thursday, crashing through the $111-a-barrel mark. That's a climb of about 30% in just six months, and this week it sent the prices at U.S. gas pumps soaring to a record national average of $3.27 a gallon...
...OPEC members are also haunted by the organization's misstep in 1998, when they voted to boost production quotas shortly before the Asian economic crisis hit. That sent oil crashing to $10 a barrel. Such prices may now seem like ancient history, but as Cheney flies out to the Middle East, he'll be visiting a region where ancient history can seem very fresh indeed...
...economies are too interdependent. Bilateral trade reached $5.5 billion last year, a 25% increase over 2006. Colombia buys Venezuela's petroleum products - Chavez controls the hemisphere's largest reserves - and Venezuela needs Colombia's agricultural produce even more. Despite the massive windfall Venezuelans have accrued from $100-a-barrel oil, they face sharp food shortages and the region's highest inflation rate. If Chavez were to exacerbate the situation by entering a war, his political popularity - which has dropped since he lost a referendum last year in which he sought greater powers and an unlimited tenure - would plummet...