Word: crude
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Dates: during 2000-2009
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...lungs, shouts something loud and incomprehensible, but I'm sure very manly. I can only understand every fifth word he yells, but the pure volume of his five-minute-long rant pumps me up for his forthcoming match. His opponent is Chris Jericho, a leaner, and certainly less crude wrestler. I know the Dogg will win this one. He does. Not a spectacular fight, but you can't expect too much from the first match. Christina looks bored already...
...vigorously pushing a proposal that would pour millions of barrels of oil from America's Strategic Petroleum Reserve onto the market in coming weeks. The proposal, which has circulated among a few top Administration officials and could soon be approved by President Clinton, involves offering a "swap" of crude oil from the 580 million-bbl. SPR to private oil companies. They would bid to take the oil now, then make repayment in kind, plus a premium, in 12 months or less. In other words, for every barrel an Exxon-Mobil took out, it would return that barrel and a little...
...prices that have hit a nine-year high, courtesy of the Organization of Petroleum Exporting Countries (OPEC), whose members have by agreement kept supplies tight. As the cost has surged, some industries have reacted. Airlines such as American and United have slapped fuel surcharges on tickets. With crude stocks dwindling, further price increases threaten to ratchet up inflationary pressure...
Releasing crude from the SPR--the oil is stored in underground caves in Texas and Louisiana--could be a dam breaker. Says Daniel Yergin, chairman of Cambridge Energy Resources, a leading consultant: "Any effort to tap the strategic reserve now will add to pressure on oil producers to put more crude on the market, which will start to bring prices down." The last time the government announced it was unloading oil from the SPR, in April 1996, petroleum-futures prices plummeted nearly 8% almost immediately and the cost of gasoline soon dropped 10[cents...
...clear how many oil companies will participate in a swap that would, in effect, sell the commodity short, the bet being that the price of crude will be lower when the time comes to return the borrowed oil several months down the road. That deal could prove an attractive gamble, however, as oil prices often slide with the advent of warmer weather. Participants can also cover the risk that prices might unpredictably rise by hedging in futures markets...