Word: beene
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Dates: during 1970-1979
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The Saudi maneuver was a last-minute gamble to regain control over a cartel that shows signs of breaking into a wild scramble for ever greater profits. In a losing struggle to impose some restraint on surging prices, the Saudis have been selling their crude far below the prices charged...
Instead, some nations are returning to preindustrial methods. Over the past few months, the price of tractors in rural Thailand has fallen 20% as fuel has become scarce and expensive. Prices of water buffaloes, which do not consume diesel fuel but do produce free fertilizer, have soared. Some Thai officials...
Aramco got a bonanza from the gap between the $18-per-bbl. price that Saudi Arabia had been charging, vs. the official cartel ceiling of $23.50. In unregulated markets outside the U.S., Aramco's proud parents have been able to sell their gasoline, heating oil and other products for...
The U.S. has tapped just about all the easily recoverable oil and gas it is likely to find within its own land area. Now the most promising areas for new finds of these fuels lie offshore, under water depths ranging from a few yards to 1,000 ft. or more...
Aramco's many critics also complain that the company is altogether too cozy with the Saudi government. Why, they ask, have the Saudis failed to complete their plan to buy out 100% of the company's production facilities? The government announced the nationalization plan five years ago. So...