Word: crudely
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Dates: during 2000-2009
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...Peak Oil" theory fits nicely on a cocktail napkin. Its curve looks like this: Colonel Edwin Drake starts pumping crude in Pennsylvania in 1859. We've been pumping faster and faster ever since. Sooner or later, on this finite planet of ours, it just has to run out. U.S. production peaked in the 1970s. Global production will soon be on the downside of the same dismal curve...
...drilling off the Florida and California coasts and then in much of Alaska. With oil, as with textiles, domestic production peaked because others began producing the same stuff cheaper, while we contrived to make our production more expensive. Today Alaska contains 18 billion bbl. of off-limits crude. We've embargoed at least an additional 30 billion bbl. beneath our coastal waters. And we could fuel many of our heavy trucks and delivery vehicles for a decade with the 20 billion bbl. worth of natural gas we've placed off limits in federal Rocky Mountain lands...
...worth of those frozen hydrocarbons off the shores of Alaska, the continental coasts and under the Rockies. There's little doubt they too can be extracted economically. If we try, we'll certainly find cheap ways to transform North America's 1 trillion bbl. worth of coal into crude as well. General Patton's Third Army completed its roll across Europe on coal liquefied with German technology...
...shortage. But we also need to tackle problems on the demand side. Developing countries such as India and China require vast quantities of oil, but they don't have a lot of energy-saving technology and aren't taking concrete steps to promote energy conservation. Our sources of crude oil are not everlasting. Governments must do their best to educate their people about the need to save energy. Citizens must play a part in energy conservation in their daily lives, or oil prices will not come down. Kenny Tan Singapore How to Help the Poor Joe Klein's Column...
...anti-oil" portfolio, as Miller calls it, should rally sharply if the price of crude slumps. But will it happen in time for him to beat the market for the 15th straight year? Miller knows the odds are against him. If only he had bought those oil and gas stocks, he laments, "we'd be nicely ahead of the market now." For once, he understands how hapless the market makes the rest of us feel, but in Miller's case, that lesson in humility may prove as ephemeral as the gathering gloom over the price...