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The letter from the reader (Elizabeth Cress-Sweet; Sept. 4, 2013) who urges that the final section of the Keystone Pipeline be built cracked me up. According to the writer, finishing the Keystone Pipeline will allow Canadian oil to flow into the United States and “get us out from under the whims of foreign oil producers.” Ignoring the fact that Canada is a foreign country, she apparently does not know that Canada already is the main provider of oil to the United States.
With a war on Syria becoming more of a reality, the price of crude oil continues to increase. Our ever-increasing reliance on foreign oil has left us in a financial tough spot whenever turmoil in the Middle East flares up. With the situation in Syria continuing to worsen, there appears to be no end in sight.
Although I agree with Don Kennedy (“Are you ready for this,” AFN, March 30) that the United States should greatly expand oil drilling, he expresses a common misconception about our ability to be independent of foreign oil. It is unlikely that the U.S. will be able to increase its oil production enough to offset a major part of the oil we import. Last year the U.S. imported 57 percent of the oil it used. It is naïve to believe that we will be able to double our oil production by drilling in U.S. territory. I believe that we should drill for whatever increase we can get and to establish reserves for the future, but the only way the U.S. will achieve independence from foreign oil is to use less.
With the war on terrorism a top national and local priority, the mere possibility that some Arizona public funds might be underwriting rogue nations is chilling.
WASHINGTON - Government-backed investors from the Middle East and China have pumped billions of dollars into U.S. companies this year without stirring the kind of national security concerns that have scuttled previous deals.
BEVERLY HILLS, Calif. - Movies from a record 58 countries are in contention for this year's foreign-language Academy Award, including the first entries ever from Iraq, Costa Rica and Fiji.
When Venezuelan leader Hugo Chavez survived a vote to oust him last week, the victory eased worries that the world’s fifth-largest oil exporter might erupt in political turmoil.
NEW YORK - Oil prices plunged Monday, pulling back at least temporarily from record levels as investors feared that the financial crisis that forced the sale of Bear Stearns Cos. is a sign of deep economic trouble.
Amory Lovins drives a hybrid that gets 64 miles per gallon and lives in a solarpowered house that is so energy-efficient he’s able to grow bananas in an indoor jungle high in the Colorado Rockies.
TEHRAN, Iran - Iran's top leader, Ayatollah Ali Khamenei, warned Sunday that oil shipments from the Gulf region would be disrupted if the United States attacked his nation, but his threat was dismissed by Secretary of State Condoleezza Rice.
NEW YORK - Stocks retreated from historically lofty levels Monday as rising oil prices chilled investor enthusiasm for strong earnings reports and new takeover activity. The Dow Jones industrials came within 17 points of 13,000 before pulling back.
More than five years after the U.S.-led invasion, Iraq is now beginning the process of developing new oil and gas fields.
BEIJING - The chairman of CNOOC Ltd. and the public face of its $18.5 billion bid for Unocal Corp. prides himself on his — and his company’s — Western ways.
ABQAIQ, Saudi Arabia - Suicide bombers in explosives-laden cars attacked the world's largest oil processing facility Friday, but were prevented from breaking through the gates when guards opened fire on them, causing the vehicles to explode, officials said.
NEW YORK - Oil surged Wednesday, rising a remarkable $5 a barrel to a new record over $104 after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady.
BEIRUT, Lebanon - Several OPEC members expressed support Wednesday for a Saudi plan to raise the group's oil production ceiling by 10.6 percent in the hope of calming jittery markets and reducing crude prices from near record heights. Oil prices sank more than 5 percent in trading in Ne York and London.
BAGHDAD - Falling oil prices will force Iraq to cut back on military spending, leaving questions about whether it can handle tasks such as protecting oil platforms in the Gulf once the American pullout is complete, a top U.S. commander said.
CRAWFORD, Texas - President Bush prodded Saudi Arabia's Crown Prince Abdullah on Monday to help curb skyrocketing oil prices, and the White House expressed hope that the kingdom's plans would ease U.S. gasoline prices that have shot above $2.20 a gallon.
NEW YORK - The dollar’s rebound and oil’s tumble breathed some serious optimism into Wall Street last week. But no one knows for sure yet whether the two trends are truly antidotes for what’s been ailing the stock market.
NEW YORK - Oil futures rallied again Wednesday, pushing briefly past $101 a barrel after the Federal Reserve lowered its forecast for economic growth this year, convincing energy investors that the central bank will slash interest rates further.
The outlook for increasing domestic oil production is bleak, even with higher prices on world markets.
Hundreds of years ago, Machiavelli advised rulers facing unpopularity at home to consider picking a fight with some other city-state or nation, noting that a threat, even a phony threat, from some foreign power tends to unite people and help them to forget their differences (and discontent with the ruler).
BEIRUT, Lebanon - OPEC would do "its best" to ensure crude supplies are adequate to meet global demand, Saudi Arabia's oil minister said Tuesday as prices surged after weekend terrorist attacks in his country.
WASHINGTON -— It's an attention-grabbing claim: Americans each year are sending $700 billion to unfriendly countries for oil, as much as the entire cost of the Wall Street bailout plan. In rare agreement, both presidential candidates use the number. But is it real?
KHARTOUM, Sudan - Nine Chinese oil workers were kidnapped in an oil-rich region of southwestern Sudan in the latest attack on China's interests in the African country, officials said Sunday.