Word: bbl
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Dates: during 2000-2009
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...production was lagging, the Pentagon asserted that this was a function of escalating demand for power. Electrical output, it said, now tops what the country was generating before the invasion. The Pentagon also zinged the GAO for using, as an oil-production benchmark, the "arbitrary goal" of 3 million bbl. a day set by the U.S.-run occupation authority immediately following the invasion. More importantly, the Pentagon said, is that petroleum exports are at their highest level since the fall of Saddam Hussein's government...
...goal is to bring back stability to the oil market.' IBRAHIM AL-MUHANNA, adviser at the Petroleum Ministry of Saudi Arabia, after officials announced plans to increase output to a record 10 million bbl...
...while it looked like a boneheaded move. At the end of 1998, the price of oil fell below $10 per bbl. Regular gas sold for 90¢ a gal. While Internet billionaires were being minted to the right and left of him, Rainwater was getting poorer...
...guess what Rainwater did a few weeks ago, right after oil prices topped $129 per bbl. for the first time? "I sold my Chevron," he says. "I sold my ConocoPhillips. I sold my Statoil. I sold my ENSCO. I sold my Pioneer Natural Resources. I sold everything...
...definitely thinks oil prices are due for a fall. That's why he sold. But he makes no claim to having gotten the timing perfect. After he sold out in May and oil kept rising, past $135 per bbl., Rainwater briefly thought he'd made a terrible mistake. The price has since subsided a little, and he has calmed down a little. Still, he says, "It's a call that I've made, but who knows? Who knows if I'm early...