Lavelle, Marianne,
Hostage to Oil. Marianne Lavelle. - U.S. News & World Report, 2005. - SIRS Enduring Issues 2006. Article 65, Environment, 1522-3205; .
Articles Contained in SIRS Enduring Issues 2006. Originally Published: Hostage to Oil, Jan. 10, 2005; pp. 42+.
"If you gasped at the spiraling price of gasoline last year [2004], your dismay might have been still more acute if the true cost had also been posted on the pump. America's 21 million-barrel-a-day petroleum habit reverberates far beyond the gas tank, from lackluster holiday sales at discount superstores to airlines ending the year awash in red ink despite robust travel and manufacturers in booming industries shutting their doors. Although as of last week [Jan. 2005] crude oil had slid to $43 per barrel from its peak of $56 in mid-October [2004], its price was still 32 percent higher than a year ago and 67 percent more than the day President Bush declared major combat operations over in Iraq. An immeasurable damper remains on the economy; just as hurricanes and pre-election jitters sparked the autumn run-up, the market knows that any new round of terrorism, political strife, or even a blast of cold weather could send the price skyward again." (U.S. NEWS & WORLD REPORT) This article examines the worldwide supply of oil, noting that "the supply is still there, but it is increasingly difficult to access and deliver to ever more oil-hungry consumers around the globe."
1522-3205;
Energy consumption
Oil fields
Petroleum industry and trade
Petroleum products--Prices
Petroleum reserves
Political stability
Terrorism
AC1.S5
050
Hostage to Oil. Marianne Lavelle. - U.S. News & World Report, 2005. - SIRS Enduring Issues 2006. Article 65, Environment, 1522-3205; .
Articles Contained in SIRS Enduring Issues 2006. Originally Published: Hostage to Oil, Jan. 10, 2005; pp. 42+.
"If you gasped at the spiraling price of gasoline last year [2004], your dismay might have been still more acute if the true cost had also been posted on the pump. America's 21 million-barrel-a-day petroleum habit reverberates far beyond the gas tank, from lackluster holiday sales at discount superstores to airlines ending the year awash in red ink despite robust travel and manufacturers in booming industries shutting their doors. Although as of last week [Jan. 2005] crude oil had slid to $43 per barrel from its peak of $56 in mid-October [2004], its price was still 32 percent higher than a year ago and 67 percent more than the day President Bush declared major combat operations over in Iraq. An immeasurable damper remains on the economy; just as hurricanes and pre-election jitters sparked the autumn run-up, the market knows that any new round of terrorism, political strife, or even a blast of cold weather could send the price skyward again." (U.S. NEWS & WORLD REPORT) This article examines the worldwide supply of oil, noting that "the supply is still there, but it is increasingly difficult to access and deliver to ever more oil-hungry consumers around the globe."
1522-3205;
Energy consumption
Oil fields
Petroleum industry and trade
Petroleum products--Prices
Petroleum reserves
Political stability
Terrorism
AC1.S5
050