Word: barrelfuls
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...risk is mounting of a sharp global slowdown?and possibly a recession?sparked by rising oil prices. U.S. consumer spending is likely to slow markedly if oil prices just stay at about $60 a barrel. This is true for several reasons. First, U.S. households have precious little flexibility in their budgets. They have drawn their personal average savings rate down to zero?far below the 9.5% average during the two oil shocks of the 1970s and the 7% rate during the shock just prior to the Gulf War in 1991. Today, the only backstop for most consumers is the transitory...
...last year?driven by increasing consumption in China, India and the U.S. Unless that demand cools, the fear is that prices will inevitably continue to surge. Analysts who expected global economic growth to slow?thus curbing some demand for crude?as oil passed $40 and then $50 per barrel have been proved wrong. "Warnings that [$50-a-barrel oil] would threaten a global downturn turned out to be too pessimistic," says Richard Berner, an economist at Morgan Stanley in New York. With prices threatening to bust through $70, though, the chances of an energy-related economic slump are growing...
...that they're in the process they haven't shown any indication of leaving. Even in their pique, their opposition to the constitution looks like it will be expressed with ballots rather than bullets, and in a land that for a century has seen politics come from the barrel of a gun, that can be seen as a victory for Iraqis...
With oil prices heading toward $70 a barrel, the age of the solar panel is dawning at last, and electronics companies from the land of the rising sun are leading the way. Decades of money-losing research and development are finally paying off at Japanese electronics giants like Sharp, Sanyo, Mitsubishi and Kyocera, who together control about 50% of the global market. "The solar units of these companies are already real businesses, and they are only going to become larger parts of their operations," says Yuki Sugi, a Lehman Bros. analyst in Tokyo who covers Sharp and Sanyo...
With oil prices heading toward $79 a barrel, the age of the solar panel is dawning at last, and electronics companies from the land of the rising sun are leading the way. Decades of money-losing research and development are finally paying off at Japanese electronics giants like Sharp, Sanyo, Mitsubishi and Kyocera, who together control about 50% of the global market. "The solar units of these companies are already real businesses, and they are only going to become larger parts of their operations," says Yuki Sugi, a Lehman Bros. analyst in Tokyo who covers Sharp and Sanyo...