Word: crudely
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Dates: during 2000-2009
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...Where Crude Heads After Hitting...
High petroleum prices might hit your wallet hard, but $100-a-barrel oil has some environmentalists quietly celebrating. The more expensive oil gets, the more attractive alternative - and climate-friendly - fuels become. Biofuels that would be buried by $17-a-barrel crude - the price as recently as November 2001 - are suddenly competitive when oil is in the triple digits. Ultra-efficient cars, public transit, plug-in hybrids - they all become better investments as oil gets and stays expensive. Global greenhouse gas emissions have skyrocketed over the past few decades on the back of relatively cheap oil, but as the price...
...embarrassment. The New Year's debacle capped what has been a dismal few months for the radical, anti-U.S. leader, who controls the hemisphere's largest oil reserves. He started the year seemingly at the height of power, taking office after a landslide reelection and with crude prices breaking records by the day. But in November, during one of Chavez's rants at a summit in Chile, the King of Spain publicly told him to "shut up." That rebuke was followed this month by another from Venezuelans, who in a constitutional referendum voted down his bid to deepen...
Chávez insisted in a TIME interview last year that "capitalism is the way of the devil." But while Chávez, who controls the hemisphere's largest crude reserves, has used his awesome oil windfalls to reduce poverty, Venezuelans now suggest they want to increase capitalist investment, satanic as it may be, to solve their nagging unemployment. They appreciate his shrewd efforts to raise oil prices, but they'd also like him to lower inflation, Latin America's highest. And while they admire him for enfranchising the majority poor, they'd applaud as loudly if he did something to reduce...
...sitting atop one of the world's largest oil deposits--Chávez claims there are more than 200 billion bbl. in the Orinoco Belt, which, if true, is nearly 10 times as many proven reserves as the U.S. has. But most of the stuff is extra-heavy crude. Tapping and processing that tarlike oil require billions in investment. Analysts say PDVSA has been slow to start those projects, including joint stakes with China's CNPC, Brazil's Petrobras and Iran's Petropars in southeastern Venezuela...