glut of oil
an oversupply of oil resources
TRANSLATION
glut of oil = die Ölschwemme --- GOOGLE INDEX glut of oil: approximately 60,000 Google hits
STATISTICS
IN THE PRESS
GLUT OF OIL creates short-term storage problems
(The Associated Press)
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A GLUT OF OIL caused by the recession means that crude available for immediate purchase is currently cheaper than that bought on longer-term or "future" contracts...
(The London Independent)
(The Associated Press)
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A GLUT OF OIL caused by the recession means that crude available for immediate purchase is currently cheaper than that bought on longer-term or "future" contracts...
(The London Independent)
Did you
know?
glut of oil
noun phrase
- an oversupply or over-abundance of oil on the market
---
A glut of oil, in which supply exceeds demand, should reduce the price of petrol. This does not always happen though. In the U.S., the world-leader in petrol consumption, the price of petrol, or gas as the Americans call it, is a favourite topic of comedians as these comments show:
- "The average national price of a gallon of gas hit an all-time record high of $3.15 this week. That means, wherever you're going this summer, it might be cheaper to mail your car." (Amy Poehler)
- "They said on the news tonight that if gas prices get any higher, we could see something totally unprecedented here in California. People actually walking." (Jay Leno)
"While speaking to environmentalists this week, Vice President Dick Cheney said he plans to deal with rising gas prices by drilling for oil in Alaska's federal wildlife refuge. He tried to convince his opponents by saying trust me, there's enough oil up there to last us the rest of my natural life." (Tina Fey)
---
SMUGGLE OWAD into today's conversation
"The Gulf of Mexico is the wrong place to have a glut of oil."
noun phrase
- an oversupply or over-abundance of oil on the market
---
A glut of oil, in which supply exceeds demand, should reduce the price of petrol. This does not always happen though. In the U.S., the world-leader in petrol consumption, the price of petrol, or gas as the Americans call it, is a favourite topic of comedians as these comments show:
- "The average national price of a gallon of gas hit an all-time record high of $3.15 this week. That means, wherever you're going this summer, it might be cheaper to mail your car." (Amy Poehler)
- "They said on the news tonight that if gas prices get any higher, we could see something totally unprecedented here in California. People actually walking." (Jay Leno)
"While speaking to environmentalists this week, Vice President Dick Cheney said he plans to deal with rising gas prices by drilling for oil in Alaska's federal wildlife refuge. He tried to convince his opponents by saying trust me, there's enough oil up there to last us the rest of my natural life." (Tina Fey)
---
SMUGGLE OWAD into today's conversation
"The Gulf of Mexico is the wrong place to have a glut of oil."
