Word: crude
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...infancy, virtual reality has attracted an extraordinary amount of media attention. The technology has been featured on ABC News and Entertainment Tonight and in front-page stories in more than two dozen newspapers. Mattel has managed to sell some 600,000 copies of its Power Glove, a crude $90 variant on the DataGlove that is designed for use with a Nintendo video-game player, despite the existence of only a handful of games to go with the glove. Virtual reality has even worked its way into the plot line of a feature film. In the forthcoming...
Taking a leaf from some outdated p.r. manual, Saddam Hussein went on the airwaves last week in a miscalculated attempt to revise his image and turn up the pressure on his enemies. He should have known better. His crude hypocrisy of fondling children may help convince the Iraqi masses that their self-styled % Knight of the Arab World is not such a bad guy. But it was testimony to his isolation that he believed such a transparent performance would move the West...
Some of these worries might come true even without a war. The price of crude oil for October delivery leaped to $32.35 per bbl. at one point last Thursday, the highest since futures trading began in 1983, and closed Friday at $30.91, drastically above the $18 spot price that prevailed only a month ago. The worldwide embargo of Iraqi and Kuwaiti oil has removed about 4 million bbl. a day from international trade, and doubts are growing that other producers can make up the shortfall. Some experts are skeptical that Saudi Arabia can increase its production of crude quite...
...push up the cost of not only gasoline and heating fuel but also everything else made from petrochemicals: detergents, paint, ink, plastics and anything packaged in them, to name only a few. Anthony Vignola, chief economist of the Kidder Peabody brokerage firm, figures that if the recent rise of crude oil to almost $32 per bbl. is not rolled back, consumer prices this quarter will jump at an annual rate of 8.6%, nearly double their recent pace...
...shocks of 1973 and 1979 less likely. Price controls that distorted energy markets have been lifted, and most of the restrictions that made it difficult for industries to shift to whatever fuel is cheapest have been removed. Most vital is the Strategic Petroleum Reserve, 590 million bbl. of crude that the government has been stashing away in salt domes in Louisiana and Texas since 1977. Though the reserve is designed to combat shortages that might arise during a crisis, some members of Congress and many energy economists are pushing the Administration to announce that it would be willing to release...