Word: barreling
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Dates: during 1980-1989
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Some Senate Republicans have described the plan as ``a goodbye present for [former Speaker of the House Thomas P.] `Tip' O'Neill,'' President Reagan and his Congressional supporters have characterized the package as a classic example of the Democratic "pork barrel" politics which were often associated with O'Neill's career...
...prices went south, there were minicelebrations at gas pumps across the Lower 48. In Alaska, as in Kuwait and Dubai, there were rude awakenings. Alaska derives a higher percentage (86%) of its general fund from oil taxes than any other oil-producing state. As the price of a barrel of crude oil tumbled from the high 20s down through the teens to about $9, the state began to run on empty...
...problems throughout the state. For example, the just completed $4 million Yukon-Kuskokwim youth correctional facility will probably never open its doors. There is no state money to operate it. "So much of our economy has been artificial," says City Councilwoman Diane Carpenter, speaking of a generation of pork-barrel construction projects expensively built on pilings above the shifting permafrost. "Now that there are no jobs for young people, there will be social dislocation, anger and bitterness...
...William Gannon, who has been head porter at the union since 1949, remembers the incident well. "I locked up the building at 10:30 p.m. that night, and figured everything was secure," he said, "but the next morning I came in to find the barrel staring me in the face. I made a few discrete inquiries and found out who did it, but when Harvard Police questioned me, I refused to divulge the name...
...idle. A total of 806 rigs are currently operating in the U.S., down from 4,530 in 1981. The oil is there for the taking, of course, but it is simply too expensive to get out of the ground. While Middle East producers can find and lift a new barrel of oil for about $1, U.S. companies spend an average of more than...