Word: bbl
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Dates: during 2000-2009
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After several near misses, crude-oil prices briefly hit $100 a bbl. on the first day of trading in 2008. The doubling of crude prices over the past year hasn't been fully felt at the pump, but it will be if prices stay high. What's driving the increase...
...certain metals and grain, "it's pretty hard to tell which is which, down to every little squiggle," says TD Bank Financial Group chief economist Don Drummond. It's no coincidence the loonie was at its strongest against the U.S. dollar when oil prices first shot toward $100 per bbl. That same week, the loonie posted record values for the year against every other major currency as well. One Canadian dollar was buying 14% more euros than it had at the beginning of January, 16% more pounds, and 21% more...
With oil over $90 per bbl., First Solar is in vogue...
...less certain that PDVSA really recovered. Before the strike, Venezuela pumped more than 3 million bbl. of oil a day (m.b.d.). Chávez and his loyal Energy Minister, Rafael Ramírez, who is also PDVSA's president, say they're back to 3.2 m.b.d., but even OPEC says Venezuela's output is 2.4 m.b.d. PDVSA's exploration and production vice president, Luis Vierma, warned last July of an "operational emergency" because of a lack of drilling rigs. In recent years, there has been a troubling string of accidents; and oil corruption, the blight that Chávez vowed to eradicate, became...
Venezuela may be sitting atop one of the world's largest oil deposits--Chávez claims there are more than 200 billion bbl. in the Orinoco Belt, which, if true, is nearly 10 times as many proven reserves as the U.S. has. But most of the stuff is extra-heavy crude. Tapping and processing that tarlike oil require billions in investment. Analysts say PDVSA has been slow to start those projects, including joint stakes with China's CNPC, Brazil's Petrobras and Iran's Petropars in southeastern Venezuela...