Word: chases
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Dates: during 1970-1979
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...taxes on petroleum imports than OPEC does when it exports the crude. Eventually, everyone stands to lose. The world's poorest countries have borrowed so much to pay for oil that their accumulated indebtedness has risen to more than $210 billion. Such major U.S. lenders as Citicorp and Chase Manhattan have huge loans out to India, Pakistan, Turkey and many other countries. Fears are rising that sooner or later some borrowers will not be able to afford even their interest payments. The threat is not simply of defaults leading to instability, but of worsening hunger and unrest among the world...
Gibbens said Chase N. Peterson '52, former vice president for alumni affairs and development, had chosen him, and "the terms under which I was hired have changed, since Fred Glimp approaches things differently...
...terms of return on invested capital, the oil firms have been slightly below the par for U.S. industry. In 1978, according to a Chase Manhattan Bank study of 27 oil companies, they had an average return of 13.2%, compared with nearly 15% for all firms...
...President chided the oil companies for spending too much of their profits on buying "department stores and hotels" and in other nonenergy investments. Actually, the amount of such spending is not large: of the $29.4 billion invested in all areas in 1978 by the 27 firms in the Chase study, about $2.8 billion, or some 10%, was spent on nonenergy projects. The remainder, or nearly $27 billion, was plowed back into the energy business. About 63% of those funds, or some $17 billion, was devoted to oil exploration and the development of new wells; a bit more than half...
...hunter from the chase...