Word: costs
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Dates: during 1970-1979
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...partners with Cities Service and the Canadian government in Syncrude, a company that will open a plant designed to squeeze oil at last from the famed Athabasca tar sands. The sands, in northern Alberta, have long been known to contain gigantic amounts of petroleum, but up to now the cost of extracting it has not been justified by the price. Some of the Sisters have moved heavily into metals, a field in which their geologists have considerable expertise. Shell produced and sold $1.2 billion worth of aluminum, copper, zinc and nickel last year, enough to rank it among...
...strengthen the dollar and weaken inflation, the Federal Reserve Board may be forced to raise interest rates still more. The cost of short-term credit has already been kicked up nearly 20% since January; last week major banks lifted their prime lending rate to businessmen a quarter of a point to 9¼%- the highest level since February 1975. A really tight credit squeeze could tip the economy into recession, but right now the outlook is for interest rates to peak later this year and begin to drift down...
Port Authority of New York and New Jersey, about buying the colossus for resale to as yet unspecified German clients. The W.T.C. cost $1 billion by the time it was completed in 1972, and probably would sell for about that much. Though rentals came slowly at first because of an oversupply of office space in the city, they picked up with the recovery following the 1973-75 recession, and the building is now 90% occupied. The Trade Center still remains a drain on the Port Authority, since much of its space was rented at bargain rates and as a result...
...world has seldom seen such huge international manufacturing alliances as planemakers are now forging. Their aims: to win access to the latest technology, help spread the cost of developing new planes and, not least, to counter nationalistic objections to government airlines buying "foreign" craft. The diplomacy involved can get both complex and testy, as witness the three-cornered negotiations from which Boeing last week came out a big first-round winner...
Naturally college bills this year turned out to be the highest ever. The average cost of education at a four-year private college has increased 6.1% over last year and has soared 77% since 1968. And for the first time, at some of the most prestigious private institutions, tuitions alone have edged up past $5,000-not including the spiraling costs of food, housing, books, transportation, plus a little entertainment on the weekends. These necessities, on the average, add around $2,500 to the final tab, though prices vary wildly from school to school and from student to student...