Word: crude
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Dates: during 1960-1969
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...gasoline prices in March. Earnings at Standard Oil of New Jersey advanced only 1.6%; profits rose 6% or more at Gulf, Mobil, and Standard Oil of Ohio but fell at Texaco, Phillips and Atlantic-Richfield. Occidental Petroleum recorded an 84% earnings increase, reflecting the rich flow of low-cost crude oil from its Libyan strikes...
...Wolfe's manner is often blithe, his logic is usually chilling. For if his America does not first electrocute itself in some blinding burst of McLuhanesque energy, it will survive only to fragment itself into a bewildering array of esoteric subcultures. Technology is offering Americans a crude form of individuality combined with the possibility of commitment to the cults which will spring up. The only catch being the Cult is mutually exclusive of the life that surrounds it. Enter the Cult and you become disparaging and intolerant of the Outsiders. And so Wolfe's Americans--both in his essays...
...critcize Feuer's use of adolescent psychology as too crude. More goes into the making of a student activist than the two drives of altruism and generational hatred. But his sophisticated treatment of the generation as a historical unit compensates for this lack of couth at the individual level. The concepts of deauthorization and gerontocracy explain convincingly why generational revolt occurs at one period and not another. A more thorough discussion of student populism, however, might have included the "neighborhood effect" at Columbia and Harvard. It might also have explained how the politics of university administrations aggravate generational hatreds...
...steel, compared with around 20% in the U.S. and 10% in Europe. The combine will create a large pool of capital resources for investment in still more up-to-date equipment. It will also be a formidable competitor in international markets. Last year Japan produced 74 million tons of crude steel-exceeded only by the U.S.'s 131 million tons and Russia's 118 million-and one-fifth of the output was exported...
...critics dismissed the 72-year-old statistician as an "interim pope," but in his five-year reign he proved to be as expansive and guileful as his predecessor, plunging ENI into extensive new operations in Egypt, the Congo and South America, and playing East against West by bargaining for crude oil from both the Soviet Union and the U.S.'s Jersey Standard...