Word: bbl
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...value of the credit to the price of crude oil. If oil prices were to rise above a certain level, the synfuel industry would no longer need the credit to make a profit and the subsidy would be phased out. As long as oil prices were below $50 per bbl., synfuel producers could claim the full value of the credit. But in the past year, as prices have risen to as much as $66 per bbl., anxiety has spread through the synfuel ranks that their boondoggle is imperiled...
Lurking in the background, however, are the usual suspects, threats as familiar and ominous as the Three Bears. The worldwide supply of oil can barely keep pace with the huge surge in demand that has been driving up prices to more than $60 per bbl.--which puts supply at the mercy of politically fickle energy producers like Russia and Iran. "We will have some shocks because supply is so tight," warned Zhu Min, executive assistant president of the Bank of China. He also expects a surge in volatility in financial markets this year and, like the other panelists, worries about...
...past two decades, is suddenly back in fashion. The public still shudders when recalling the accident at Pennsylvania's Three Mile Island plant in 1979 and the disaster at Chernobyl seven years later. But with worldwide demand for energy rising sharply, oil spiking at more than $60 per bbl. and fears growing about the lasting impact of greenhouse gases, the outlook for nuclear power today is, well, quite radiant...
...years to break out of their torpor. Lurking in the background, however, are a few threats as ominous as the three bears. The worldwide supply of oil can barely keep pace with the huge surge in demand that has been the force driving up prices to more than $60 bbl. - and which potentially puts the world at the mercy of politically fickle energy producers from Russia to Iran. "We will have some shocks because supply is so tight," warned Min Zhu, executive assistant president of the Bank of China. He's also expecting a surge in volatility in financial markets...
...regard this interest rate move as too early," said Jean-Claude Juncker, chairman of the group of euro-zone finance ministers. He disputes one of the bank's key arguments: that the current abnormally high inflation rate of 2.5%, driven in part by oil prices of over $60 bbl., will spark demands for higher wages that will set off a cycle of price increases. ECB officials point out that their benchmark interest rate of 2% is less than inflation and that high oil prices are probably here to stay. They're also keen to fire a shot at governments...