Word: oil
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...yardsticks of differing lengths. While the GAO said electrical production was lagging, the Pentagon asserted that this was a function of escalating demand for power. Electrical output, it said, now tops what the country was generating before the invasion. The Pentagon also zinged the GAO for using, as an oil-production benchmark, the "arbitrary goal" of 3 million bbl. a day set by the U.S.-run occupation authority immediately following the invasion. More importantly, the Pentagon said, is that petroleum exports are at their highest level since the fall of Saddam Hussein's government...
...increases the demand for the construction of more electric power plants (and the pollution they spew - unless they use renewable sources like hydropower or, as John McCain correctly insists, nuclear power, which should be carefully reconsidered). "A lot of utilities supplement their main power sources with quick-acting oil- or gas-driven generators on the hottest days of the year," says Lee Schipper of the University of California, Berkeley. Schipper estimates the cost of peak usage is 20 cents per kW-h, as opposed to an average of 13 cents for "baseload capacity" usage, and it is far more carbon...
When I draw a chart, I start with a hypothesis. In studying online shopping's relationship to our shaky economy - from high oil prices to the housing crisis and talks of recession - I expected that a chart of visits to online retailers would show a precipitous decline. According to the latest Reuters/University of Michigan Consumer Index, consumer confidence has reached the lowest level in 28 years...
...leaders, they are still capable of dealing with real-life issues, as they showed in Brussels after their recriminations over the Irish vote. They announced a relief package for farmers, fishermen and others affected by soaring oil and food prices; they agreed to scrap diplomatic sanctions against Cuba imposed in 2003; and they implicitly threatened more sanctions against Zimbabwe President Robert Mugabe's regime...
...goal is to bring back stability to the oil market.' IBRAHIM AL-MUHANNA, adviser at the Petroleum Ministry of Saudi Arabia, after officials announced plans to increase output to a record 10 million...