Word: barrel
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...Because fuel now accounts for more than a quarter of operating costs, airlines are particularly vulnerable to rising oil prices. But with crude rising to more than $49 per barrel on Aug. 20?compared with an average of $20 per barrel over the past 15 years?few businesses in Asia are unaffected. Although there was a sigh of relief as the price fell back to about $43 last week, oil is still more expensive than it has been in the past 20 years?and the realization is sinking in that Asia may have to learn to live with higher energy...
...inefficient manufacturers and companies that can't pass higher costs on to customers due to competitive or contractual constraints, a world of $40-per-barrel oil could prove distinctly inhospitable. The Chinese city of Yuyao, a sprawl of factories and warehouses about three hours from Shanghai, has been a center for the plastic trade and related light industry for more than three decades. Last year, the roughly 1,000 merchants in Yuyao's main commercial district did $1.7 billion in business, selling everything from granulated PVC to finished plastic products, such as grips for fishing rods and motorcycle windshields...
...dizzied by the beauty around us, and then we reach Rock Island Bend. We've just rescued the Red Devil from being submerged, found the barrel of food that fell off it, and are more than ready for camp. But just before we get there is the Bend, which - since the photo of it by the late Peter Dombrovskis galvanized the anti-dam campaign - has become the river's iconic image, a tall island topped by a grove of trees clinging to its craggy head, a fine spray flaring around it. It is our high point; after that the rapids...
...dispute at Russian oil giant Yukos for propelling crude prices to record levels last week. But what's less clear is how a company that produces just 2% of the earth's oil supply can trigger a worldwide hike in the price of September crude, which reached $44.60 a barrel on Friday...
Soaring oil prices have renewed concerns about U.S. dependence on foreign oil. The warnings weren't heeded back in 1986, when crude dipped below $10 a barrel and CHEAP OIL was a TIME cover topic...