Sentences with phrase «huge oil reserves»

The country has a transparent and wealthy open economy that majorly relies on its huge oil reserves and resources.

In Britain, the Falklands tend to be viewed through the prism of Argentine sabre - rattling − of which there has been plenty since huge oil reserves were discovered in the seas around the islands.

Not exact matches

Like Alberta, Venezuela is blessed with huge reserves of heavy oil — more than any other nation on earth, according to some recent estimates.

The report also counters warnings from environmentalists that the pipeline's construction would spur a huge increase in production from western Canada's tar sands, believed to be one of the biggest reserves of crude oil outside Saudi Arabia — unleashing torrents of greenhouse gases into the atmosphere.

While the country has very little debt and relatively huge fiscal exchange reserves, the drop in oil represents a huge change in Saudi Arabia's fiscal position.

For the time being, much of the analysis on the financial losses focuses on the plunge in oil and coal prices, and the potential that a huge portion of the global reserves of oil, gas, and coal will be «stranded» in the ground to curb climate change.

While conservatives preach doom and gloom, our province still has corporate and personal tax rates lower than when Ralph Klein was premier, no provincial sales tax, and huge reserves of oil and gas.

«If you take the Economic Intelligence Unit (EIU)[report], they said 2017 and onward is going to be a period of prosperity for Ghana and that is because of the foundation that we have laid, it's because of the work that we have done, we've eliminated a lot of the deficits that were created by huge subsidies on utility tariffs, we eliminated a lot of the subsidies that created huge deficits on the cost of petroleum products, today as I speak, Tema Oil Refinery (TOR) is running, and producing petroleum products for Ghana, we have enough stock of LPG, our tanks and strategic reserves for petroleum products are all full, and, so, we have ships standing offshore Ghana with petroleum products, but there is no space to offload those products, and, so, we've done a good job in stabilising various sectors of the economy.

«Oil sold for less during Obasanjo's regime, yet he got part of our foreign debt waived, paid off the remaining and left a huge foreign reserve.»

Ngige argued that this country entered recession a long time ago before the Buhari government came on board but nobody noticed it because of the huge foreign reserves accumulated by former President Olusegun Obasanjo, which has now shrunk to $ 21billion as a result of the crash in oil prices.

The decision of the United Arab Emirates to prepare for the end of their oil reserves by turning their cities into huge tourist attractions has been a delight for adventurous travellers.

But recent lease sales held by the Department of Interior's Bureau of Land Management (BLM)-- auctioning off huge tracts of the reserve to the oil and gas industry — don't bode well for the future of this important habitat.

The potential reward is huge: saving the world from catastrophic climate change, powering our society with abundant new energy, and ending a global economic imbalance now tilted toward nations that happen to sit atop oil reserves.

A new study released by the Joint Economic Committee (JEC) of the US House of Representatives concludes that the accelerated development of huge reserves of unconventional oil in Canada will undermine the OPEC oil cartel in coming years.

The mining industry has discovered that there are huge reserves of coal - seam gas and oil - shale that can be profitably exploited.

And just as its massive oil reserves provided a springboard for the incumbent energy revolution, its huge solar resources and cutting - edge technology development are shaping the region as a hub for the new, clean energy revolution.

Alberta's tar sand reserves are now estimated to contain more than 175 billion barrels of crude oil, but to get to the huge reserves, excavators must remove the topsoil and then take out the underlying tar sands by lifted them into dump trucks.

- Australia has huge reserves of coal and gas, but only 0.3 % of the world's oil.

This matters because there is a huge amount of carbon currently locked up in permafrost, and the methane hydrates alone contain more carbon than all of Earth's proven reserves of coal, oil, and natural gas combined.