Word: bonanza
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Dates: during 1970-1979
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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 high prices even though these fuels were made from the lowest-cost cartel crude. Largely as a result, third-quarter profits of Exxon, Mobil, Texaco and Socal jumped by anywhere from 73% to 211%. The revenue surge enraged the Saudis; Oil Minister Ahmed Zaki Yamani argues that Aramco...
...with any runaway hits so far this season, but Fred Silverman's troubled network cannot be counted out. Its winter replacement shows include United States, by the creator of M*A*S*H, and a new dramatic series, Skag, starring Karl Maiden. This summer NBC has the bonanza of the Olympic Games. Says Advertising Executive Chuck Bachrach: "The jury is out on Silverman. If he can maintain his standing until the Olympics, then I think everyone has a shot at No. 1 for next year...
...quite possible that Alberta's energy bonanza will not give out for many decades. Expert estimates of conventional oil reserves range from 5 billion to 8 billion bbl. (The U.S. has proven reserves of 28.5 billion bbl., and Mexico has 16 billion bbl.) Most significant, Alberta has huge additional "unconventional" sources of energy that are not yet economical to tap but will become increasingly feasible -and necessary-as oil prices rise. The basic sources are heavy bitumen oil and the tar sands, which together could provide as much as 320 billion bbl., or enough to supply the entire world...
...high earnings were due partly to special, unrepeatable circumstances. The third quarter of 1978 had been the worst three-month period in five years, and thus comparisons with this year's figures would show exaggerated growth. A July change in British tax law provided a onetime $200 million bonanza, and a reduction in foreign exchange losses saved Exxon $51 million. Those two items accounted for nearly a quarter of the 118% increase...
...discover that the apparatus could record his own voice. Partly because the phonograph came so easily, he distrusted it enough to fail to capitalize on its moneymaking potential. (Another reason was that he had poor hearing and no real appreciation of music, and did not realize what a bonanza could be reaped by recording melodies...