Word: crudely
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Dates: during 2000-2009
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...trial that has already spanned two decades and two continents. It began in the early 1990s in New York, after settlers and indigenous tribes in the Amazon oil towns of Coca, Lago Agrio and Shushufindi accused Texaco - which was bought by Chevron in 2002 - of recklessly dumping crude and wastewater into their lakes and rivers, seriously damaging the public health and livelihoods of tens of thousands of people. A court-appointed expert estimated the total damage to be a remarkable $27 billion, a figure Chevron says is baseless...
...violence doesn’t awe me. Politics has been violent—or at least violently crude and crass—for all of my generation’s time. Although there’s special irony about an AR-15 at a healthcare debate, it’s not altogether unexpected...
...quickly expand gas consumption. At this stage, anyone who can use natural gas instead of crude oil is already burning gas, as the price goes lower still. There is really only one other form of energy that natural gas will replace - coal. Yes, in some geographic areas, it is currently cheaper to use natural gas than coal. Shocking, right...
Take no comfort in that excess. Unlike crude, natural gas cannot be stored just anywhere we want; we also cannot transport it very easily. Gas is typically stored in underground reservoirs. The pressure of the gas and the type of reservoir can make injection and extraction cycles difficult and lengthy processes. Until traders see extra storage realized, the natural gas market will be priced in steep contango, meaning prices of natural gas for future delivery will hang far above the current price. The low prices now represent the abundance of unusable and potentially unstorable gas, a situation that will...
Just as in the case of crude oil, supply and demand do not paint the full picture. As of Aug. 24, the U.S. Natural Gas Fund, an exchange-traded fund listed as UNG on the NYSE, held about 10% of the contracts in the October 2009 futures market traded on NYMEX. Combine that position with its over-the-counter swap holdings, and UNG held the equivalent of more than 50% of the October contract's open interest. In following its plan to buy and hold natural gas, UNG keeps rolling its position into the next futures month. In other words...