Word: crude
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Dates: during 1980-1989
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...bourgeois democracy. The bedbugs of feudalism and servility moved inside wooden trunks from village huts into communal apartments. Many bosses behaved like "Red feudal lords," taking away not only the peasants' land but their passports too -- and that really smacked of serfdom. Stalin's forced collectivization was a crude mockery of the slogans "Land to the Peasants" and "All Power to the Soviets...
...industry may be mired in a three-year slump, but Big Oil still thinks big. Convinced that crude prices will rise again and anticipating a major new pool of natural gas, Shell Oil last week launched "Bullwinkle," a lighthearted name for the tallest ever offshore oil-drilling and -production...
...Vienna six of the seven non-OPEC summiteers (Colombia excluded) came up with a proposal for boosting prices. They promised to cut their crude-oil exports by 5% if OPEC would do the same. The cutback would be easier for the smaller group to accomplish than for OPEC. Among the six, a 5% reduction would amount to only about 200,000 bbl., while for OPEC it would be more like 700,000 bbl. In return, OPEC members debated a counterproposal that would reduce the group's total production...
DESCRIPTION: Crude oil production in millions of bbl. a day by OPEC and non- OPEC countries, 1973-1987; Color illustration of can dripping oil onto head of Arab...
...former three-term Congressman, Hance met with most of the attending ministers and exhorted them to limit production and boost the price of their crude, an activity that has earned him opprobrium in Washington and some appreciation in Texas. Said an Administration official: "It's his personal business. It's nothing we condone, but we can't stop him." Hance contended that he has no interest in any formal alliance with OPEC, but he added, "What they do here in Vienna has more effect on the Texan economy than what the ! state government does in Austin...