Word: crude
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...prices, rather than interest rate hikes, may do Alan Greenspan's dirty work on the economy, and that could be bad news for Al Gore. The price of crude oil jumped to $34.13 a barrel Wednesday, an almost 10 percent increase in the space of a week that has Wall Street jittery and President Clinton warning producer nations against continuing to choke the supply. The price has more than trebled over the past year, after oil-producing nations inside and outside the OPEC cartel agreed to cut back production in order to drive prices back up. "Even though...
...mechanical grasshoppers are ideal for the mission, capable of flitting over rolling jungles at more than 100 m.p.h. They are about the only conveyance possible; roads and airports are scarce, and river travel is slow. Helicopters can survey the rugged Andean terrain for coca and poppy fields, for crude drug-shipping airstrips hacked out of the vegetation and for the labs where the narcotraffickers produce illicit drugs. Armed and armored, the helicopters can protect unarmed crop-dusting planes as they spray lethal herbicides over thousands of acres of coca and poppy plants. And only helicopters can spot outlaw labs...
...attack on Bush's support for the Museum of the Confederacy is fundamentally different from the debates over the custom of flying Confederate flag in South Carolina, which was not even a genuine tradition but a crude attempt to spite the Civil Rights Movement. The debate over the flag was a debate over what image a state government should project to all its citizens, and such images can and should change as the sensibilities of the people change...
...might want to put off that SUV trip until the fall. Although an impending international agreement means cheaper gasoline appears to be on the way, it may be late summer before it arrives at the pumps. In the strongest hint yet that crude oil prices - currently at their highest levels since the Gulf War - will soon be on the way down, three of the world's top oil-producing nations reached a tentative agreement Thursday to increase production. The announcement by Venezuela, Mexico and Saudi Arabia appeared to be both a concession to the Clinton administration - U.S. energy secretary Bill...
...remains to be seen is how quickly relief will come to the pumps. U.S. oil stores are so depleted that any crude oil production increase could take months to translate into better news at your local service station. So even if the increases begin immediately after OPEC meets, industry analysts don't believe they will have an impact on the U.S. market in time for the summer driving season. The only hope for a earlier decreases: President Clinton's recent indication that he might increase the domestic oil supply by lending the U.S. strategic oil reserves to major gasoline distributors...