In crude oil trading, we have seen a 46 percent increase over 1 year in the margins there.
About 75 percent of the crude oil marketed here is sold off the books, and they are doing trades that would be illegal if it was a regulated market, and of course they do not want to regulate it.
If I think too much about all of those Chinese factories where all the stuff in a Wal-Mart is made, I get that woozy feeling you get when you see ducks covered in crude oil.
As we all know, no crude oil refineries have been built in the United States since 1976. During that time, close to 100 ethanol refineries have been built.
Bitumen is junk energy. A joule, or unit of energy, invested in extracting and processing bitumen returns only four to six joules in the form of crude oil. In contrast, conventional oil production in North America returns about 15 joules. Because almost all of the input energy in tar sands production comes from fossil fuels, the process generates significantly more carbon dioxide than conventional oil production.
This young wine may have a lot of tannins now, but in five or 10 years it is going to be spectacular, despite the fact that right now it tastes like crude oil. You know this is how it is supposed to taste at this stage of development.
The future looks like gasoline. . . . crude oil . . . is the future before it has been refined. It is like a dream of the future, really, and like any dream it ends with a rude awakening.
Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.
About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.
Running out of energy in the long run is not the problem.... The bind comes during the next 10 years: getting over our dependence on crude oil.
By Interstate 70: a dog skeleton, a vacuum cleaner, TV dinners, a doll, a pie, rolls of carpet.Later, next to the South Platte River: algae, broken concrete, jet contrails, the smell of crude oil. What I hope to document, though not at the expense of surface detail, is the form that underlies this apparent chaos.
Energy companies, such as Chevron and Shell, and oil producing countries, such as Kuwait and Venezuela, pump crude oil from their vast land holdings and sell it on the world market
Global crude oil demand is increasing, particularly in places like China
A variety of factors contribute to the price of gasoline in the United States. These factors include worldwide supply, demand and competition for crude oil, taxes, regional differences in access to gasoline supplies and environmental regulations
Low oil prices played a part in a major move by Congress voting to end the 40-year-old ban on exporting American crude oil.
In 1973, America imported 30 percent of its crude oil needs. Today, that number has doubled to more than 60 percent. Gas prices are as high as they are now in part because we've had no comprehensive national energy policy for the past few decades
Even if America tomorrow - and it won't happen overnight - but if we did reduce our demand for gas and natural gas and crude oil by a significant degree, that does have an exponential effect on producers in the Middle East, everything else being equal. But if China's demand is growing and India's demand is growing, they are not going back.
The crude oil market, unlike every other commodity in America, is virtually unregulated.
There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.
or simply:
