Word: crude
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Dates: during 1980-1989
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...months. Gorbachev's energy policy toward his allies has been equally tough. Their main source of imported power is Soviet oil, but supplies have been cut back by as much as 30% in the past six years. At the same time, East European countries are forced to buy Soviet crude at two times or more the price on world markets. All the while, Soviet leaders have been dragging the rest of the bloc into huge cooperative industrial projects that drain them of the technology and manpower needed for hard-currency exports to the West. The most ambitious joint program, launched...
...state, which has boomed over the last 10 years thanks to high oil prices? Fact is, Mr. Presidential candidate, that most of America has struggled against rising energy prices to maintain its standard of living--and in New England struggled to keep warm enough to stay alive--as your crude cronies got rich...
...odds of finding more oil are declining at the moment because tumbling prices have forced oil companies to slash their exploration and drilling budgets. Last week Ohio-based Standard Oil said that it will spend only about $450 million this year looking for crude, a 50% cut from 1985. The cutbacks affect not only the U.S., but also the allies from which it buys oil. In Britain's offshore fields, observes Petroleum Intelligence Weekly, "concern is starting to center on a spending slowdown that could leave the North Sea industry ill equipped to pick up again...
...sheer size of the potential petroleum "tax break" is stunning. Last year the U.S. economy consumed some 15.7 million bbl. of crude oil a day, at an average price of $27 per bbl. Total cost: $155 billion. According to the Washington Analysis Corp., an economics- and market-research firm, a petroleum price of about $10 per bbl. for the rest of 1986 would boost American disposable income by $84 billion this year, or roughly $330 for the average wage earner. More conservatively, a Department of Energy economist estimates that if the average price of crude stabilizes this year...
...mola that also brought the Peace Corps to San Blas. These vibrantly colored, intricately patterned, hand-stitched cloth panels are essential not only to the Kuna woman's traditional dress but to her life. From her first crude attempts at the difficult reverse applique, a Kuna woman will stitch on her mola daily, first for her trousseau, then to sell. Yet when the corps arrived in 1963, Indian women were shedding their artful garb for cheap cotton dresses, and it was feared the unique craft of the mola would be lost, along with the cash it earned the Indians...