Word: oiled
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...fall? People have been anxiously wondering as they watch the plunging stock market. But increasingly the same question is being asked about another crucial figure: the price of oil. It has plummeted nearly 40% in just three months, from about $147 a barrel in July to below $83 on Friday, with no obvious bottom in sight. If that sounds good, you are probably a driver who winces these days at filling your gas tank. But the downward spiral could mean trouble for oil-rich countries and for the environment...
...Oil analysts admit that most of them failed to predict how fast oil prices would drop. Just a few months ago, some were saying oil might reach $200 a barrel by year's end. "The analysts have been quite surprised by the pace and volatility of the decline," says David Fyfe, senior oil analyst for the International Energy Agency in Paris, which as a rule does not predict oil prices. "The volatility has been quite marked...
This year's sky-high oil prices are partly responsible for the drop. Since oil hit $100 a barrel for the first time early this year, Americans (who consume one-quarter of the world's energy) began cutting back. When gas began selling above $4 a gallon, American consumers made "a psychological shift into the sense of crisis and a sense of permanence," says Greg Priddy, oil analyst for the Eurasia Group in Washington. Instead of believing that gas prices would finally fall again, many began changing their daily habits - they started driving the smaller...
...hissed Felicity, lightly slapping the Prince’s hands, both of which had gone exploring in the folds of her dress. “Later. Soon!” She ran off after Frederick.She found him frozen in front of a large oil painting. The Englishman had depicted some kind of incomprehensible allegory–a leopard, a sextant, philosophical books, and in the middle of it all a painted man, naked.Felicity stood, aghast. She felt the rising tide within her breast, the swelling of a liquid blaze that she could not suppress. She knew not from whence this...
...question will arise: What to do about those tanks? There is mounting evidence from U.S. officials and other experts that the tanks aboard the Faina were not destined for Kenya, as both the Kenyan government and the tank's Ukrainian shippers claim, but for South Sudan, the autonomous oil-rich region of Sudan, which has a fractious relationship with the central government in Khartoum. If the standoff is resolved, will the three American warships encircling the Faina just clear a path and allow it to proceed...