Word: barrelling
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...price shock of the 1970s began in October 1973 when, in response to the Yom Kippur War, Arab oil producers imposed an embargo on exports. Before the embargo, in 1972, the price of imported oil was about $3.20 per barrel; by 1975, the average price was nearly $14 per barrel, more than four times greater. President Nixon had imposed economy-wide controls on wages and prices in 1971, including prices of petroleum products; in November 1973, in the wake of the embargo, the President placed additional controls on petroleum prices.2
...Home Minister Shivraj Patil said that "Naxalites operate in [a] vacuum created by [an] absence of administrative and political institutions." The Naxalites, Patil said, "take advantage of the disenchantment prevalent among the exploited segments of the population" to "offer an alternative system of governance which promises emancipation ... through the barrel...
Anyone who is suffering through the pain of having to fill up their own gas tank these days can at least understand a little of that desperation. With oil prices soaring to $135 a barrel, the airlines have little choice but to pass on some of the added expense to their customers. "Current oil prices are a game-changer," says Tim Wagner, an American Airlines spokesman. "It's a tipping point. The airlines are simply not designed to handle oil at this price...
...brunt of the consumer backlash, he says. United and Delta say they are considering similar charges; Continental declined to comment on American's plan. Southwest Airline - one carrier that is feeling relatively less of the pain, having locked in 70% of its 2008 oil supply at $51 a barrel - said it had "no plans" to institute a bag fee. But even Southwest expects to pay $800 million more in fuel costs in 2008 than last year (compared to United's extimated $2 billion in extra costs). "Our fuel hedges have allowed us to remain profitable, compared to other carriers...
...Senate, his campaign statements about the deficit have been less than convincing. He wants to extend the Bush tax cuts that he once opposed - and add a few more of his own, saying he'll make up the difference by cutting "wasteful spending." But even eliminating the pork-barrel congressional earmarks that McCain has long criticized would make only a dent in the deficit...