Word: barreling
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Dates: during 2000-2009
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...stark contrast to last summer, when oil prices soared past $140 per barrel, the economic slowdown has kept per-barrel prices relatively reasonable in 2009. But in his new book, $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better, Christopher Steiner argues the dip is temporary, and says gas prices will soon climb beyond $4 per gallon to heights previously unimaginable...
...necessary to crank up its output were overly optimistic. Iraq plans to retain ownership of its oil, but make long-term agreements with foreign companies to run the operations. But Oil Minister Hussein Shahristani demanded that oil companies lower their profit expectations, offering to pay them $2 for every barrel pumped in Iraq rather than the $4-a-barrel rate sought by oil executives. Chevron, which had negotiated for a year to develop Iraq's second-biggest field, West Qurna, pulled out of the deal on Tuesday, saying it had not met the company's "standard investment criteria." French giant...
...maintain its credibility. "The E.U. needs to show that its position is associated with the U.S., with its implicit threat of coercive action," says Daniel Korski, senior policy fellow at the European Council on Foreign Relations. Noting that Iran's economy is struggling - oil is now below $68 a barrel and the recent turmoil will further deter foreign investment - Korski says the government has a long-term interest in repairing its relationship with the E.U. "Iran may rant and rage, but that doesn't mean the E.U. is being kicked around," he says. "As long as the Iranian economy...
After decades in the Senate (where he was no slouch at snagging funds for his home state of Delaware), Biden knew his way around a rotten pork barrel. So he set up an in-house watchdog group, with a team that would grow to eight and a charge to keep the spending clean, quick and defensible. Economists will tell you that the most important part of a stimulus is getting the money into the economy fast, where it can replace lost consumer and business spending and keep people employed. But Biden's team knew that it's just as important...
...treating them unfairly. "Foreign governments misunderstand our situation," Congressman Juan Orlando tells TIME. "Once they learn that this was really a legal change of power, they will change their position." Yet it could be tough to persuade the international community of the legality of exiling a President at the barrel of a gun. (See pictures of Barack Obama's family tree...