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Simmons–Tierney Bet
The Simmons–Tierney bet was a wager made in August 2005 between Houston banking executive Matthew R. Simmons and ''New York Times'' columnist John Tierney. The stakes of the bet were US$10,000.00. The subject of the bet was the year-end average of the daily price-per-barrel of crude oil for the entire calendar year of 2010 adjusted for inflation, which Simmons predicted to be at least $200. The bet was to be settled on January 1, 2011. At the time the bet was made in 2005, the price of oil was $65. It soared to an all-time high of $145 per barrel in 2008 before plummeting below $50 per barrel in the same year in the wake of the financial crisis of 2007–2008. The average price for a barrel of oil in 2010 was $80 ($71 in 2005 dollars), less than the $200 Simmons predicted. Simmons died on August 8, 2010, and the bet was paid out by his colleagues in Tierney's favor. {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul R
Paul may refer to: *Paul (given name), a given name (includes a list of people with that name) *Paul (surname), a list of people People Christianity *Paul the Apostle (AD c.5–c.64/65), also known as Saul of Tarsus or Saint Paul, early Christian missionary and writer *Pope Paul (other), multiple Popes of the Roman Catholic Church *Saint Paul (other), multiple other people and locations named "Saint Paul" Roman and Byzantine empire *Lucius Aemilius Paullus Macedonicus (c. 229 BC – 160 BC), Roman general *Julius Paulus Prudentissimus (), Roman jurist *Paulus Catena (died 362), Roman notary *Paulus Alexandrinus (4th century), Hellenistic astrologer *Paul of Aegina or Paulus Aegineta (625–690), Greek surgeon Royals *Paul I of Russia (1754–1801), Tsar of Russia *Paul of Greece (1901–1964), King of Greece Other people *Paul the Deacon or Paulus Diaconus (c. 720 – c. 799), Italian Benedictine monk *Paul (father of Maurice), the father of Maurice, Byzan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Oil Drum
''The Oil Drum'' was a website devoted to analysis and discussion of energy and its impact on society that described itself as an "energy, peak oil & sustainability research and news site". ''The Oil Drum'' was published by the Institute for the Study of Energy and Our Future, a Colorado non-profit corporation. The site was a resource for information on many energy and sustainability topics, including peak oil, and related concepts such as oil megaprojects, Hubbert linearization, and the Export Land Model. ''The Oil Drum'' had over 25 online contributors from all around the globe. In 2013, the site ceased publishing new articles. As of October 2016, the site continues to function as an archive. ''The Oil Drum'' was rated one of the top five sustainability blogs of 2007 by Nielsen Netratings, and was read by a diverse collection of public figures, including Roscoe Bartlett, Paul Krugman, James Howard Kunstler, Richard Rainwater, and Radiohead. In 2008, the site received the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2000s Energy Crisis
From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel in 2008 dollars. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008. Commentators attributed these price increases to many factors, including Middle East tension, soaring demand from China, the falling value of the U.S. dollar, reports showing a decline in petroleum reserves, worries over peak oil, and financial speculation. For a time, geopolitical events and natural disasters had strong short-term effects on oil prices, such as North Korean missile tests, the 2006 conflict between Israel and Lebanon, worries over Iranian nuclear plans in 2006, Hurricane Katrina, and various other factors. By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession. The recession caused demand for energy to shrink in late 2008, with oil prices c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Of Petroleum
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level. The global price of crude oil was relatively consistent in the nineteenth century and early twentieth century. This changed in the 1970s, with a significant increase in the price of oil globally. There have been a number of structural drivers of global oil prices historically, including oil supply, demand, and storage shocks, and shocks to global economic growth affecting oil prices. Notable events driving significant price fluctuations include the 1973 OPEC oil embargo targeting nations that had supported Israel during the Yom Kippur Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crisis Of 2008
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adjusted-for-inflation
In economics, nominal value is measured in terms of money, whereas real value is measured against goods or services. A real value is one which has been adjusted for inflation, enabling comparison of quantities as if the prices of goods had not changed on average; therefore, changes in real value exclude the effect of inflation. In contrast, a nominal value has not been adjusted for inflation, and so changes in nominal value reflect at least in part the effect of inflation but will not hold the same purchasing power. Commodity bundles, price indices and inflation A commodity bundle is a sample of goods, which is used to represent the sum total of goods across the economy to which the goods belong, for the purpose of comparison across different times (or locations). At a single point of time, a commodity bundle consists of a list of goods, and each good in the list has a market price and a quantity. The market value of the good is the market price times the quantity at that poin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peak Oil
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price. A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions. Numerous predictions of the timing of peak oil have been made over the past century before being falsified by subsequent growth in the rate of petroleum extraction.David White, "The unmined supply of petroleum in the United States," ''Transactions of the Society of Automotive Engineers'', 1919, v.14, part 1, p.227.Daniel Yergin“There will be oil,”Wall Street Jou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matthew Simmons
Matthew Roy Simmons (April 7, 1943 – August 8, 2010) was founder and chairman emeritus of Simmons & Company International, and was a prominent figure in the field of peak oil. Simmons was motivated by the 1973 energy crisis to create an investment banking firm catering to oil companies. He served as an energy adviser to U.S. President George W. Bush and was a member of the National Petroleum Council and the Council on Foreign Relations. Simmons, who lived in Houston, Texas, died at his vacation home in North Haven, Maine, on August 8, 2010, at the age of 67."Utah native Matthew Simmons, energy investment banker, dies in Maine" ''Deseret News'' (2010-08-09). Retrieved on 2012-05-20. The death was ruled " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rita Simon
Rita may refer to: People * Rita (given name) * Rita (Indian singer) (born 1984) * Rita (Israeli singer) (born 1962) * Rita (Japanese singer) * Eliza Humphreys (1850–1938), wrote under the pseudonym Rita Places * Djarrit, also known as Rita, a community in the Marshall Islands * 1180 Rita, an asteroid * Rita, West Virginia * Santa Rita, California (other), several places Film, television, and theater * ''Rita'' (1959 film), a 1959 Australian television play * ''Rita'' (2009 Italian film), a 2009 Italian film * ''Rita'' (2009 Indian film), a 2009 Marathi film directed by Renuka Shahane * ''Rita'' (TV series), a Danish television show * RITA Award, an award for romantic fiction * ''Educating Rita'', a 1980 stage play by Willy Russel ** ''Educating Rita'' (film), a 1983 British film based on that play *Rita Santos, an adult mermaid on the TV series ''Mako Mermaids'' Music * ''Rita'' (opera), an 1841 opera by Gaetano Donizetti Albums * ''Rita'' (Rita Yahan-Farouz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Resource
Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value. On Earth, it includes sunlight, atmosphere, water, land, all minerals along with all vegetation, and wildlife. Natural resources is a part of humanity's natural heritage or protected in nature reserves. Particular areas (such as the rainforest in Fatu-Hiva) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) that can be found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as fresh water, air, as well as any living organism such as a fish, or it may be transformed by extractivist in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and largest city is Riyadh. The country is home to Mecca and Medina, the two holiest cities in Islam. Pre-Islamic Arabia, the territory that constitutes modern-day Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
