Energy Experts Blame Iraqi Unrest for Rising Oil Prices

Iraq belongs to the Organization of the Petroleum Exporting Countries, better known as OPEC. In fact, Iraq is OPEC’s second biggest oil producer. It produces more than 3 million barrels of oil every day.

That is why a militant offensive in oil-producing areas of northern Iraq shocked energy markets last week. But the threat may not be as serious as some observers think. A lot depends on how long the unrest lasts.

Andrew Ricci works for Levick Energy, a research business. He thinks Americans will see only a small increase in gasoline and heating oil prices.

“The real impact that it’ll have on the United States is that it’s going to empower the arguments for advocates of energy independence, energy stability and clean energy sources.”

Oil prices have changed little over the past four years. One reason is lower demand for oil in developed countries. Another is the rise in alternative fuel sources, including biofuel and ethanol from plants. There is also the possibility of currently undeveloped oilfields from Libya to Iran. John Kemp writes on energy issues for the Reuters news service.

“First of all, we saw South Sudan, then Libya, then Nigeria. Iran’s oil has been kept largely off the market by sanctions, and now, we’re seeing mounting problems in Iraq, all of which means that you can see lots of oil in the future. But in the near term, the market remains fairly balanced.”

But Andrew Ricci says much will depend on whether Islamic militants are able to permanently occupy Iraqi territory.

“If the whole country goes back into insurgent hands, then I think, it’s not going to be a good thing. All bets are off. Any instability is not going to be a good thing for hydrocarbon fuels.”

The threat of unrest has helped push prices for future oil purchases to highs not seen since last September. But the threat of a cut in Iraqi oil exports may be limited. Energy experts say the country’s most productive oil fields are to the south, in areas opposed to the Sunni-led militants.

I’m Mario Ritter.

词汇解析

gasoline

难度：2星扩展词汇，属常用10000词

英汉解释

n.汽油

参考例句

用作名词 (n.)

Gasoline drained slowly from the tilted can.

煤油慢慢从倾斜的油罐里流出来

The plant converts crude oil into gasoline.

这家工厂将原油加工成汽油。

mankind

难度：3星常用词汇，属常用6000词

英汉解释

n.人类;男人

参考例句

用作名词 (n.)

Mankind learns its first language in early childhood.

人类是在幼年开始学习第一种语言的。

Genetic engineering will have revolutionary consequences for mankind.

遗传工程将对人类产生深远的影响。

impact

难度：4星核心词汇，属常用3000词

英汉解释

n.影响;冲击力;撞击

vt.挤入;压紧;撞击;对 ... 发生影响

vi.冲击;撞击;产生影响

参考例句

用作名词 (n.)

But what these people fail to see is that international tourism may bring about a disastrous impact on our environment and local history.

但是这些人忽视了国际旅游可能会给当地环境和历史造成的灾难性的影响。

用作及物动词 (vt.)

There is a special tool to impact the road when it is under construction so the base is solid.

有种特殊的工具可以在道路修筑过程中将路面压紧，因此，路基是结实的。

用作不及物动词 (vi.)

The company's performance was impacted by the high value of the pound.

公司的业绩受到了英镑高值的冲击。

stability

难度：3星常用词汇，属常用6000词

英汉解释

n.稳定性;居于修道院

参考例句

用作名词 (n.)

The government has taken a measure to maintain the stability of prices.

政府已经采取了措施以确保物价稳定。

The question of stability of an equilibrium is very important.

一个平衡点的稳定性问题是非常重要的。

demand

难度：4星核心词汇，属常用3000词

英汉解释

n.要求;需求

v.要求;查问;需要

参考例句

用作名词 (n.)

The demand for coal begins to slacken off in the spring.

煤的需求在春天开始减少。

用作动词 (v.)

All these questions demand careful and detailed study.

这些都需要认真具体的研究。

fairly

难度：2星扩展词汇，属常用10000词

英汉解释

adv.公正地;相当地

参考例句

用作副词 (adv.)

This company deals fairly with every client.

这家公司公正地对待每位客户。

We're not rich but we're fairly comfortable.

我们并不富有,但生活还较宽裕。

architect

难度：3星常用词汇，属常用6000词

英汉解释

n.建筑师

n.【喻】缔造者;创造者

参考例句

用作名词 (n.)

The architect was given/presented with a blank cheque to design a new city centre.

设计师被授予全权设计一个新的城市中心区。

He was the chief architect of the country's new economic policy.

他是制定国家新经济政策的总指挥。