Brent crude traded at $107.68 today as West Texas crude prices moved to $94.24. Oil prices don’t immediately transfer to gasoline pump prices, but they surely have an impact as crude moves through refineries into finished produ…
Proponents of the peak-oil theory can muster studies and statistics backing their claim that declining global oil output is nigh. Critics point to new technologies and unconventional oil fields as saviors. Either way, a return …
Iraq raised its level of proven oil reserves by 24% in the first revision since Saddam Hussein was toppled from power.
The country has 143.1 billion barrels of known and extractible oil, compared with 115 billion barrels at the end of Saddam Hussein’s reign, BBC News reported
That means Iraq has more proven reserves than neighbor Iran.
In the final years of Hussein’s reign, UN…
Continue reading Iraq Raises Proven Oil Reserves 24%
Iraq Raises Proven Oil Reserves 24% originally appeared on DailyFinance on Mon, 04 Oct 2010 08:55:00.
Filed Under: Energy, Technology, Economy, Green