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...attack rattled international oil markets and maritime insurers. Although the Sirri terminal returned to partial operation a day later, the strike stirred fears that Iran's 1.6 million-bbl.-a-day oil production, most of which passes through the facility, might be in jeopardy. In New York City some oil prices jumped by 6.67%. In London, insurers at Lloyd's, through which many tankers have coverage, doubled rates for ships traveling to the island...
...bleak oil-refinery situation is not limited to Aruba. The Caribbean's eight major refineries are cutting production, and more than 100 U.S. refineries have ceased operating since 1981. Additional closings are expected. Texaco is shutting down its 65,000-bbl.-a-day plant in Lawrenceville, Ill., and a 20,000-bbl.-a-day operation in Amarillo, Texas. Since September, the company has halved the capacity of its Port Arthur, Texas, refinery to 200,000 bbl. a day...
...Australian wombat. Conferences are supposed to begin and end punctually, and then the delegates depart to make room for the next set of delegates. That is the system, and the motto on the Swiss 5-franc coin is "Dominus providebit" (The Lord will provide). This week the $100-a-day hotels are filling up with visitors to the world's biggest auto show, which is being held at the new Palexpo exhibition hall. Next week U.S. and Soviet diplomats arrive to resume arms-control talks. Such things are Geneva's biggest business; it is the meeting place of the world...
...Rich's dealings and was soon joined by agents of the Treasury Department, Internal Revenue Service and Customs Service. Rich's often inept efforts to stonewall the probe took on a burlesque quality. His company refused to turn over documents to a grand jury, provoking $50,000-a-day contempt-of-court fines that messengers dutifully delivered to court each week. The payments eventually totaled $21 million...
French Suite. When French President François Mitterrand visited San Francisco in March, he chose to stay in the $1,500-a-day presidential suite of the Hotel Meridien because it is owned by a French consortium. Walter Mondale had other reasons for picking the same digs as his headquarters during the Democratic Convention, starting with its location one block from Moscone Center. By contrast, the other two Democratic presidential candidates will be staying a traffic-clogged half-mile away on Union Square - Gary Hart at the venerable Westin St. Francis and Jesse Jackson at the high-rise Hyatt...