Word: petroleum
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Dates: during 2000-2009
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...seven months of the year, Daylight Saving Time recovers an hour of this wasted daylight and allows us to use the sun for an additional hour in the evening, free of charge. For the other five months, it’s a different story. To the delight of petroleum exporters, we burn large quantities of oil to power the light bulbs that keep this country’s homes and businesses running for many hours after sunset in the winter. What can we do to keep the air a little cleaner and our deficits a little lighter? A 2001 study...
...investment from American and European firms. In April, the country’s biggest and fourth-biggest oil companies, Yukos and Sibneft, merged to form the largest Russian company in post-Soviet history; ExxonMobil and Shell immediately announced their interest in joining the new partnership. Prior to this, British Petroleum merged with Russian oil company TNK, and the new company rebounded financially. Such an influx of foreign investment is the first step toward linking Russian oil with the United States...
...time when prices are rising again and America's dependence on foreign oil is once more creating economic pain. As TIME reported in July, Congress's failure to adopt a serious energy strategy over the past three decades is taking its toll on consumers in bloated prices for petroleum products and natural gas, looming shortages of certain fuels, lost jobs, rolling brownouts and little hope for any relief, given that lawmakers are fixated on passing out subsidies, like the synfuel credit, that will do little or nothing to ease U.S. dependence on foreign...
...change a country's energy fortunes? The answer can be found 700 miles north of Montana near a onetime frontier outpost in Alberta called Fort McMurray. At Syncrude Canada's North Mine, a huge open pit nearly two miles across and 250 ft. deep, giant shovels scoop out a petroleum-soaked deposit called oil sand that is beginning a long journey from here into the gas tanks of American cars. The region contains enough of the crude mixture to produce an estimated 175 billion bbl. of oil, eight times the known deposits of conventional crude...
...that converts it to crude oil. From there, it goes by pipeline to refineries in the U.S. The output of the Alberta operations is expected soon to reach 1 million bbl. a day, surpassing U.S. crude production on Alaska's North Slope. The U.S. now imports more oil and petroleum products from Canada than from any other country...