Word: crude
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Dates: during 2000-2009
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Alaska will also be staring down a budget crisis: crude oil slipped below $60 a barrel just before the election, and Alaska's budget balances only if oil is in the mid-$70 range or higher. The days of Palin's $1,200 bonus check to every Alaskan may be over, and if her popularity at home suffers, so does her national profile...
Border measures, as such restrictions are commonly labelled, attach a penalty to imports that violate the environmental standards of the importing country, and are typically imposed on products such as fuels or crude materials...
However, analysts say that for Calderon to be able to touch the sacred cow of Mexican oil at all is a major advance, which could open the door to deeper changes in the following years in Mexico, the third biggest supplier of crude to the United States after Canada and Saudi Arabia. "The law creates a very important framework on which more regulations can be developed," said energy analyst David Shields. "It allows for contracts with foreign companies that can be much more flexible than anything we have seen before...
...maritime find less attractive to the potential international partners Cuba needs to extract the oil. The effort is all the more urgent, they add, because reduced oil revenues could also make friends like left-wing Venezuelan President Hugo Chávez less able to aid Cuba with cut-rate crude shipments and capital to improve the island's aged refineries. "The Cuba numbers from my point of view are not valid," says Jorge Pinon, an energy fellow at the University of Miami and an expert on Cuba's oil business. "I think they're feeling a lot of pressure right...
...Miami's Pinon says the more serious issue is refining capacity: even if Cuba has only the low estimate of 5 billion bbl. - which could yield more than 300,000 BPD - it needs Venezuela's investment to upgrade refineries like the Soviet-built plant at Cienfuegos. But plummeting crude prices mean that Chávez may have a lot less wealth to spread around for his petro-diplomacy projects. "Like the collapse of the Soviet Union," says Pinon, "this kind of thing has always been Cuba's Achilles' heel...