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Crude Oil, Oil Price falls to $81
Oil fell near $81 a barrel on Monday as investors took profits from near-record highs of last week. But a weak dollar helped check losses sparked by worries of an economic slowdown in top consumer the United States.
U.S. crude lost 63 cents to $81.03 by 11:37 a.m. EDT, having sunk more than $1 to $80.59 [...]
Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
Venezuela Strengthens Its Relationships in the Middle East
Venezuela has long cultivated ties with Middle Eastern governments, finding common ground in trying to keep oil prices high, but its recent engagement of Iran has become a defining element in its effort to build an alliance to curb American influence in developing countries.
In a visit late last month to Tehran by President Hugo Chávez [...]
Peak-oil theory warns tank’s almost empty
FORGET pipeline problems in Alaska. The real elephant in the corner is “peak oil”. This issue is in the same category as global warming – although there is a division of opinion as to whether or not it’s real, it is probably prudent to assume the worse-case option.
Peak oil is the point at which it [...]
