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0Study: Global spending on advanced oil, gas exploration tech to hit $10.17 billion in 2011 1317427260
Although the Arctic has incredible potential energy resources – the United States Geological Survey (USGS) estimates 90 billion barrels of undiscovered oil and 1,668 trillion cubic feet of undiscovered gas – extracting that fuel will be costly. A calculated and cautious approach to ...
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Did you know Venezuela has the most oil? Meet the man in charge of it 1314213000
Quick, name the country certified by OPEC as number one in national oil reserves. Saudi Arabia? No. Canada? Nope. Venezuela? Bing! After redefining as extra-heavy crude a field previously classified as tar, OPEC certified the South American nation of Venezuela as the controller of the world's ...
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Barron's says oil likely to hit $150 a barrel next spring, gas $4.50 a gallon 1309996200
In early May of 2011, the national average price of gasoline in the United States hit exactly $4 a gallon before falling to the current level of $3.56. However, if predictions from Barron's hold true, then prices will shoot back up in early 2012, hitting $4.50 by next spring. Barron's, America's ...
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U.S. to release 30 million barrels of oil from Strategic Petroleum Reserve 1308923760
On Thursday, U.S. Department of Energy Secretary Steven Chu announced that the U.S., along with its partners in the International Energy Agency, has decided to release a total of 60 million barrels of oil from strategic reserves within the next 30 days. This move is to offset the disruption in ...
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U.S. oil usage on the upswing 1293369900
More than two years ago, the price of oil soared to over $100 dollars a barrel. Today, it's not nearly that high, but at a price of $88.21 in the U.S., oil is slowly creeping up, thanks in part to soaring fuel consumption that's linked to a rebounding economy. According to the American ...
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API: First-half demand for gasoline 0.6% lower than last year 1280343180
According to the American Petroleum Institute's (API) Monthly Statistical Report, U.S. gasoline deliveries for the first half of 2010 averaged 8.88 million barrels per day, 0.6 percent lower than the corresponding period a year ago. Though the drop in demand is minuscule, it does provide us with an ...
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What's the "real" cost of gas? Dollar figures don't tell the whole story 1277135160
Opening an article with the question, "how much does gas cost?" seems like it requires a fairly straightforward answer. You could hop in your car, drive to the nearest gas station and answer it in no time. Similarly, you could hit up the site GasBuddy and find an answer even quicker. Using either ...
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U.S. demand for gasoline sets all-time record for March, trend expected to continue throughout summer 1271684280
Apparently the slew of hybrids and a handful of electric vehicles on the roads here have had little, if any, impact on gasoline consumption. The numbers for March show that we are more thirsty for the stuff than ever. According to the American Petroleum Institute (API), our refineries produced more ...
