Word: crude
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...This environment, spread over four floors, each the size of a city block, will become home this August to 2,000 employees trading commodities that range from Old World (crude oil, petrochemicals, steel and lumber) to New World (emission credits and derivatives). Chairman Kenneth Lay and CEO Jeff Skilling are even moving from their skyboxes to work in seventh-floor offices so they can peer down into...
...America in the year 2001 faces the most serious energy shortage since the oil embargoes of the 1970s," the report stated. Cheney, removed from his Ford White House gig by Carter, remembers well how they played at home - a sudden shortage of crude, soaring prices, bread lines at the pumps. And very bad politics for the president...
...Presley era and beyond, stars made an impact by going too far, by affronting community propriety (when the community still had propriety), by translating the lewd and the crude into popular art. Bing was just the reverse. He didn't outrage or astonish; he reassured. He was not on the edge; he created a new middle, which always should have existed but didn't until he eased into it. Imagine that, far into the history of food - say, around 1930 - someone had come up with the potato. That was the eureka element to Crosby's relaxed style. He was Everyman...
...This time, it's not OPEC. At $28 per bbl., crude oil prices may be high. But America's current gasoline-supply problem is its own. No new refineries have been built in over two decades; indeed, the opposite has happened as refiners took excess capacity off the market. Inventories are nearing historic lows. Any disruption in the refining process or distribution system chokes gas supplies, driving prices...
...part of the problem has been the cost of crude, from which gasoline is refined. OPEC has cut production twice since President Bush took office--the first time in January, the second in March--by a total of 2.5 million bbl. a day. That has pushed up prices to about $28 per bbl., the high end of OPEC's target zone...