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The government needs crude oil to average $70 a barrel to balance its budget.
The simplicity of the solution facilitates its implementation in the industry and curricula for engineers that needs crude calculation methods for thermal calculations, e.g. food science and food technology educations.
The Saudi-Russia rift is apparent: to cover government spending oil-dependent Saudi Arabia needs crude to sell at $95, while more diversified Russia has a budget based on $4o.
The North needs crude oil; the South needs refining capacity.
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"If you need crude to fuel your economy, you'd really better be thinking about Canada," said Chris Seasons, president of the Canadian unit of Devon Energy, an oil company based in Oklahoma City.
If the oil companies are wrong about electric cars they will find their investments in big and expensive new oil production projects, which increasingly need crude prices around $80 per barrel to be profitable, not paying off.
We used two variables as indicators of population health need: crude mortality rate (CMR) per 10 000 population and consultation rates per population.
Many nations display reticence in condemning those regimes for human rights violations because the world's economy needs Arabian crude oil.
In order to sustain the thoughtful discussions, MSNBC needs the crude partisan drama that has been in short supply this year: the most important job of an avowedly liberal media outlet, it seems, is to argue against conservatives.
It needs imported crude to keep the lights on, but it also has an abundance of clean-energy sources: sunshine, wind, powerful tides and waves and cold ocean depths.
"If we move into a world where, because of a fall in demand and hence in the oil price there is less need for crude, all of your sunk capital once you have allowed for depreciation – the book value of an oilfield — is going to be zero and there will have to be write-downs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com