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...power of the OPEC cartel, oil is proving to be no exception. A worldwide glut has developed as new supplies from the North Sea, Alaska and Mexico supplement oil from the Middle East and South America -at a time when the shaky world economic recovery cannot absorb all of it. One result: price shaving by most of the big producers. Kuwait, Iran and Saudi Arabia are all offering slight discounts of 100 to 300 off the price (about $13 per bbl.) of their heavy-grade oil, the kind that is refined to heat homes and factories...

Author: /time Magazine | Title: Energy: Oil Prices Slip | 9/26/1977 | See Source »

National Passions. The heist was so professional that police suspect the thieves have ties to organized crime and may have little trouble fencing their take -although not at face value. Casinos, race tracks and other businesses that deal in large volumes of change should be able to absorb the coins (provided police informers don't spot them). Moreover, several national passions-ranging from tippling to the weekly tierce horse race-force cafes to keep large amounts of coins on hand. Last year two crooks who had stolen $80,000 in one-franc coins tried to convince police that...

Author: /time Magazine | Title: FRANCE: Francs a Lot | 8/8/1977 | See Source »

...year teller at the Union Dime Savings Bank and discovered that he had made off with $1.5 million by the computerized shuffling of funds among little-used accounts. Even if caught, a computer thief may not be prosecuted. Fearing embarrassing publicity, some firms merely fire the offender and absorb the losses...

Author: /time Magazine | Title: The Law: Computer Capers | 8/8/1977 | See Source »

Along with ten others, I had enrolled in Couture's "high performance" program. You begin by wondering how much anyone can absorb in three days. You conclude with fatigue, a sense of achievement and at length a kind of horror. For years you have been driving out of control without realizing...

Author: /time Magazine | Title: BYPLAY: Gentlemen, Your Brakes | 8/1/1977 | See Source »

Fanger said the Summer School and the Center will absorb the extra costs this year...

Author: By Carolyn Berg, | Title: Dance Center Will Show Films In Science Center for Free | 7/12/1977 | See Source »

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