Word: bbl
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Dates: during 2000-2009
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...Without the energy revolution that the IEA says is necessary, oil prices will rise by 2020 to about $100 a bbl. in pre-2008 dollar values and by 2030 to about $115 a bbl...
...official questioned the prediction in last year's World Energy Outlook that oil production could be raised from the current level of 83 million bbl. a day to 106 million bbl. a day, saying the estimate was higher than is feasible. This year's report lowers that prediction to 105 million bbl. a day. But critics of the IEA have long said the world has passed its peak in oil production and that such levels are unrealistic. (See how to plan for retirement...
...live like we do," he notes. That emerging megaforce, says Rogers, will put a supertight squeeze on commodity prices across the board, from beef to bullion. For the unconvinced, he pulls out a chart showing the average daily per capita consumption of oil in the U.S. at 0.677 bbl., vs. India's infinitely smaller consumption (0.021 bbl.) and China's (0.049 bbl.). "Even if the Chinese and Indians just start consuming as much electricity as Koreans now do, the price of oil will take off," he says. (See the best business deals...
Iran sits atop mammoth energy reserves -about 136 billion bbl. of oil and some 14 trillion cu m of natural gas. But because its refineries are too few and too old, the country refines just two-thirds of the gas it needs to keep its economy working and its 65 million people lit, driving and heated. The remaining third - about 120,000 bbl. a day - has to be imported...
...sanctions. Earlier this year, it began importing far more than it was using. Intelligence consultancy Stratfor noted last week that Iran has probably stockpiled at least three months' worth of gasoline. The National Iranian Oil Refining and Distribution Co. estimates that the country has some 15.7 million bbl. of gasoline - about four months' worth - stockpiled in tankers on land and off its Persian Gulf coast. After BP and Reliance halted exports to Iran, Chinese state-owned oil companies filled the gap, supplying about one-third of Iran's gasoline imports as of last month, according to the Financial Times. Lawrence...