Word: crude
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...vigorously pushing a proposal that would pour millions of barrels of oil from America's Strategic Petroleum Reserve onto the market in coming weeks. The proposal, which has circulated among a few top Administration officials and could soon be approved by President Clinton, involves offering a "swap" of crude oil from the 580 million-bbl. SPR to private oil companies. They would bid to take the oil now, then make repayment in kind, plus a premium, in 12 months or less. In other words, for every barrel an Exxon-Mobil took out, it would return that barrel and a little...
...prices that have hit a nine-year high, courtesy of the Organization of Petroleum Exporting Countries (OPEC), whose members have by agreement kept supplies tight. As the cost has surged, some industries have reacted. Airlines such as American and United have slapped fuel surcharges on tickets. With crude stocks dwindling, further price increases threaten to ratchet up inflationary pressure...
Releasing crude from the SPR--the oil is stored in underground caves in Texas and Louisiana--could be a dam breaker. Says Daniel Yergin, chairman of Cambridge Energy Resources, a leading consultant: "Any effort to tap the strategic reserve now will add to pressure on oil producers to put more crude on the market, which will start to bring prices down." The last time the government announced it was unloading oil from the SPR, in April 1996, petroleum-futures prices plummeted nearly 8% almost immediately and the cost of gasoline soon dropped 10[cents...
...much as the next gal, I doubt that *anyone* appreciates such crude...
...mentions the name Charles Dickens and the only book by this author known to have survived, albeit in mutilated form: "The novel is entitled On the Origin of Species by Means of Natural Selection by Charles D--. The rest of the name has been gouged out by some crude tool and the phrase 'Vile Stuff!' written in a dye-based substance." Plato praises Dickens' comic inventiveness in creating something called evolution and puts Origin on a par with Don Quixote in its depiction of a totally deluded fictional hero...