Dictionary
tied oil
noun
Any oil that is either a light oil, or a heavy oil that falls into the excise definition of gas oil, fuel oil or kerosene.
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In his victory speech after Tuesday's primary elections, Mr. Romney mentioned high gas prices several times, at one point asking the audience: "Are you paying less at the pump?" The audience yelled, "No!" But Democrats hope that they can tie oil companies reaping big profits to Republican candidates who have opposed the elimination of tax breaks for those companies.
An attack on the oil platforms would be devastating for Iraq because so much of its economy is tied to oil sales.
But while motorists in Britain have been facing record pump prices and household heating costs have risen because gas prices are tied to oil, Carl Larry at the Blue Ocean commodity brokerage in New York said crude values might not fall much further.
About 60% of Iran's exports are tied to oil.
For Albertans, however, the spending frenzy is tied to oil.
Is this true?For decades, the fortunes of the Texan economy were tied to oil.
Russia and Saudi Arabia are now roughly tied in oil production, each pumping around 10 million barrels a day.
Since natural gas prices in most world markets are tied to oil, they are expected to increase as well.
"By this measure, Texas is not monolithically tied to oil and gas, but it's highly oriented towards it," Muro told me.
And world coal consumption has been growing strongly, especially in Asia, and is now roughly tied with oil as the world's leading fuel.
Centrica has been expanding its own production portfolio as a hedge against volatile gas prices which, in Europe, are closely tied to oil prices.
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