Word: crude
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Dates: during 1980-1989
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WILL VINTON started out smail, an unknown with a lotta heart and guts to spare. His first effort, crude, untutored, won an Oscar. Okay, it's inconsequential, a tiny splash in that shark-infested pond called Show Business, but it was something. A start. A beginning. And now, after years of hard work, he's hit the big time--Domino's Pizza commericials...
...wild ride appears to be over for the time being, much to the relief of producers and consumers alike. When Treasury Secretary James Baker met with his Saudi Arabian counterpart Mohammed Ali Abdul Khail in Khail's country last week, the two finance officials seemed to think that worldwide crude prices had finally settled at a mutually agreeable level. The current price still provides consumers with relatively cheap energy but is less likely than $10 a bbl. to create economic disaster for oil-producing countries and the U.S. energy belt. One sign that the current price may stick: four major...
...price plunge of 1986 could be traced to September 1985, when Saudi Arabia got fed up with its dwindling share of the world's oil market and decided to reverse completely its traditional strategy of holding back production to prop up prices. Oil Minister Sheik Ahmed Zaki Yamani raised crude output from about 2 million bbls. a day to 4 million bbls. with the aim of forcing rival oil producers like Britain to cut back to make room for the Saudis. But when competitors refused to budge, the world's oil glut rapidly increased and discounting became rampant. "The price...
...result was a windfall for customers, for a change, rather than for the Organization of Petroleum Exporting Countries. Crude prices plummeted from $26 per bbl. in January to below $10 in April and remained under $15 for most of the year. The low prices distressed the Saudi royal family and provoked anger from other OPEC countries, prompting the Saudis in October to oust Yamani as Oil Minister after he had spent two decades as a leading OPEC strategist. With that, the Saudis abandoned their price-war tactics. When OPEC met in December, twelve of its 13 members, with Iraq dissenting...
...crude measures of death rates and simple indices of complications mark only the first salvos in what will undoubtedly by a prolonged battle to construct, test, reconstruct and retest measures of the quality of the components of American health care. Some snake oil will be sold to those impatient for good methods of measurement, but, in the longer run, the serious efforts of health services researchers and managers are more likely than not to yield sound and credible measurement tools for the quality of care. Armed with those tools--but not without them--we may be able to defend...