Word: crude
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Dates: during 2000-2009
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...seat home of the Toronto Blue Jays (now called Rogers Centre) with sticky, bitumen-laced soil from the Aurora North mine in a weekend is mind-boggling. But it puts the business conducted on this chunk of boreal real estate into perspective: there are 173 billion bbl. of crude contained in an area roughly the size of Florida. It just...
Syncrude, headquartered just north of Alberta's booming Fort McMurray, is a consortium of U.S. and Canadian oil companies including Imperial, Petro-Canada and ConocoPhilips that produces 350,000 bbl. of light, sweet crude per day from tar sands at three mines on the banks of the Athabasca River. About two-thirds of that gets piped to the U.S. Syncrude accounts for about 27% of the 1.3 million bbl. extracted by oil companies every 24 hours from this stark landscape of jack pine, spruce and poplar forests shot through by a bright northern light...
...worker calls in sick ($1,000 an hour in company revenue). Economic risk is as ever present as the physical danger, and--by pushing workers to go faster and harder--one feeds the other. The workers know precisely how much everything costs, not just the crab and the crude but also their family time, their rest, even their safety...
Facing record gas prices, President Bush reluctantly signed a bill to halt the deposit of 70,000 barrels of oil per day into the Strategic Petroleum Reserve, a two-month buffer of crude last tapped to offset disruptions caused by Hurricane Katrina. The amount of extra oil is relatively tiny--the world produces close to 75 million bbl. per day--meaning the move will have little impact on prices. Still, the measure sailed through Congress with overwhelming support...
...Interpol report vindicates the Bush Administration's claims about Chavez, it also raises the tricky question of how to respond. After all, Venezuela supplies almost 15% of U.S. crude oil imports, and it controls the hemisphere's largest reserves. Although such a move would probably be disastrous for his own economy, Chavez has long threatened to suspend oil exports to the U.S. if it took steps he considers aggression against Venezuela - which could include any terrorism-sponsor designation. Chavez may not follow through, but in light of the current energy crunch, few in Washington would be willing to call...