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Tag Archives: Oil
Saudi Arabia: We Could Increase Oil Reserves by 77 Percent in Just a Few Years
Just how much oil is there, and when will the world begin to run out of it (if ever)? Part of the problem answering that question is the amount of known oil in the world keeps increasing, especially in the … Continue reading
Tagged Oil, Saudi Arabia
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Billions in Oil Revenue Disappeared from Angola
According to a report by Human Rights Watch, more than $4 billion in oil revenue collected by the government of Angola simply disappeared between 1997 and 2002. That is an amount equal to the same amount Angola spent on all … Continue reading
Tagged Angola, Oil
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Iran Discovers Major Oil Field
Reuters reports that Iran recently made a major oil discovery, finding an oil field that has estimated reserves of 38 billion barrels of oil. If true, that would make it one of the world’s largest undeveloped oil fields. Reuters quoted … Continue reading
Tagged Iran, Oil
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OPEC Finding It Difficult to Control Oil Prices
After the 9/11 terrorist attacks in the United States, demand for oil dropped causing the price of oil to bottom out. In late November, the price for a barrel of oil reached a two-year low of only $16.65 per barrel. … Continue reading
Tagged Oil
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OPEC’s Problem: Too Much Oil
Once again the Organization of Petroleum Exporting Countries has a big problem on its hands — despite all its efforts, there is still too much oil. Excess oil supply has the price for barrel stuck well below the $22-28 price … Continue reading
Tagged Oil
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