• Noun: a slippery or viscous liquid or liquefiable substance not miscible with water
• Noun: oil paint containing pigment that is used by an artist
• Noun: any of a group of liquid edible fats that are obtained from plants
• Verb: cover with oil, as if by rubbing; example: "oil the wooden surface"
• Verb: administer an oil or ointment to ; often in a religious ceremony of blessing
It's important to understand that oil and renewables do different things. Wind and solar are for power generation, so they don't replace oil. About 70% of all oil produced is used for transportation fuel. Renewables are good projects, but they don't get us off of foreign oil.
Government experts have estimated that ANWR reserves would only provide enough oil for six months of U.S. oil consumption. In addition, the oil industry itself has estimated that it would take 10 years to bring this oil to the market.
It's to paint directly on the canvas without any funny business, as it were, and I use almost pure turpentine to start with, adding oil as I go along until the medium becomes pure oil. I use as little oil as I can possibly help, and that's my method.
We are not utilizing the Iraqi oil for U.S. purposes. We are not asking that the Iraqi oil be used to pay our military expenses. We are asking only that the Iraqi oil be used to rebuild Iraq - that is, to rebuild Iraq for the Iraqi people.
I saw a report yesterday. There's so much oil, all over the world, they don't know where to dump it. And Saudi Arabia says, 'Oh, there's too much oil.' They - they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they're our friends? They're not our friends.
Right now, there are a limited number of customers for Canadian oil. Due to simple geography - and without the pipeline - it's really only cost effective for Canadian oil producers to sell their oil to North American customers, mostly American Midwesterners.
Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.
I can understand where the oil company wants to deduct the cost of drilling a well. That's one of the tax breaks for oil companies - the subsidies - they get to deduct the cost of the well the year you drill.
Having yet another vote on refinery legislation that uses high oil prices as an excuse to weaken environmental protections and to give more legislative gifts to the oil industry is misguided in the extreme.
Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.
The U.S. uses most of its oil for transportation. We can limit U.S. demand for oil by requiring automakers to use the technology that already exists to improve fuel economy - technology that the automakers refuse to bring into the market despite societal demand.
You know, if we're going to bring down the price of gas, you have to have three things. You have to have a big reserve, you have to have the ability to develop oil out of that reserve quickly, and you have to be able to produce oil at a relatively low cost.
If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market.
But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.