If it keeps falling, oil will take out the crisis low of $32.40 a barrel that was set in December 2008 and fall to the levels unseen since April 2004.Rather than global economic depression, prices today are being slammed by a massive glut of oil. The oversupply issue is only going to be worsened by Iran, which is gearing up for its highly anticipated return to global oil markets after years of sanctions had blocked it.Iran has said it will boost its output by 500,000 barrels per day immediately after sanctions are lifted, possibly as early as next month.New comments from Iran suggest the OPEC country is not willing to let the oil crash mess up those plans.There is „absolutely no chance“ Iran will delay its plan to boost oil shipments despite cheap oil, Amir Hosseein Zamaninia, Iran’s deputy oil minister for international and commerce affairs, told Bloomberg.Iran’s return to the oil market may be giving OPEC leader Saudi Arabia another reason to keep pumping oil at an all out pace. The Saudis, longtime rivals of Iran, realize stronger prices would help boost Iran’s chances of an economic rebound.All of this explains why some are bracing for even lower prices.
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„I don’t think anybody’s really http://www.cheapjerseys2008.com/ soured on the oilsands,“ said Pendill. „When you think of Canadian Natural, when you think of Suncor, Imperial Oil, those are your 800 pound gorillas in the oilsands and they’re the ones that will be here 100 years from now. So they will continue to grow operations.“.
Almost half of the electricity capacity in the region comes from gas fired power plants. While during most of the year there is more than enough natural gas available, in winter, much of the natural gas flowing into New England through pipelines is contracted for heating. As a result, cold spells can leave too little gas for power production..
Pooler has spent the past five years working to improve its ISO rating, which experienced a two point bump from a 4 to 6 a couple years after Wade became chief in 2008. Wade cited leadership changes and extraordinary population growth for the unfavorable rating. He said city services had failed to keep pace with the growth.