Search Details

Word: barreling (lookup in dictionary) (lookup stats)
Dates: all
Sort By: most recent first (reverse)


Usage:

...wildcatter" Ray Cullen's efforts to convince a man named Judge R. E. Brooks to invest in drilling for crude in 1920: "That the judge couldn't find oil in a barrel didn't matter to Cullen; all that mattered was that Brooks and a dozen other leading Houston citizens had committed money to this drill site. Cullen politely suggested Judge Brooks pick the spot to break ground, and he did. When Cullen realized they had nothing to mark it, he walked to a mound of what Texans tastefully call "cow chips," pick up a few dry chunk, and piled...

Author: /time Magazine | Title: The Big Rich | 2/2/2009 | See Source »

...relative to the current price. Therein lies opportunity: buying and holding oil now, then selling it in the future, can generate an almost risk-free profit. Citigroup has already leased a supertanker to store oil that it will sell later this year. (Read "A Brief History of the Oil Barrel...

Author: /time Magazine | Title: How Citigroup Makes Hay in the Oil Market | 2/2/2009 | See Source »

...NYMEX), oil settled with over a $22 spread between the February 2009 and February 2010 contracts. In other words, if a company bought oil on the February 2009 contract, stored it for a year and sold it on the February 2010 contract, it would make more than $22 per barrel, excluding the costs of the operation. This represents a greater than 60% gross return! Since interest, storage and delivery costs should amount to significantly less than the $22 spread, the venture would yield a virtually riskless profit, or arbitrage. When the February contract ended trading in late January, an enormous...

Author: /time Magazine | Title: How Citigroup Makes Hay in the Oil Market | 2/2/2009 | See Source »

Since then, future oil prices have come closer together, averaging just over a dollar between contract months over the next year, or slightly more than the $1.02 per barrel per month price tag that Morgan Stanley had reportedly been negotiating in mid-January. The apparent correction is unlikely to have been caused directly by an institution like Morgan Stanley, but instead by a perception among traders that the average $1.25 spread between monthly contracts is reasonable. Of course, leasing a tanker is an extreme measure of storage, and the cost of storing at a more traditional location is much lower...

Author: /time Magazine | Title: How Citigroup Makes Hay in the Oil Market | 2/2/2009 | See Source »

...Year’s Day in Oakland, a bullet seared through the back of unarmed 22-year-old Oscar Grant III, point-blank out of the barrel of an officer sworn to serve and protect. Mr. Grant died instantly, prostrate in the universal “I Surrender” position, the officer’s knee smashing his neck into cement. Police supporters claim that Grant was harassing another train passenger. Supposedly the officer who fired the shot thought he was using a taser...

Author: By Raúl A. Carrillo and Jarell L. Lee | Title: And Justice for All? | 1/30/2009 | See Source »

Previous | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | Next