Word: crude
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When Iran and Iraq decided to end their eight-year war, oil producers hoped that a new spirit of unity in OPEC would lead to a boost in crude prices. But the cartel is still fueled more by friction than by fellowship, and oil prices are plunging. Last week the cost of West Texas Intermediate, the benchmark grade of U.S. crude, dropped 4%, to $14.18 per bbl. -- its lowest level in nearly two years. Reason: although OPEC agreed last month to hold daily output to 15 million bbl., some 20 million bbl. are flooding the market each day. Among those...
That could be good news for consumers. If crude-oil output remains high and prices stay down, gasoline and heating oil will eventually cost less. But it will take at least two months for the benefits of OPEC's overproduction to trickle down to the retail level...
There were a few cries of sacrilege when it became known some years ago that oil companies were searching for crude beneath the streets of Paris, using noisy trucks equipped with seismic scanners to chart geologic formations below the Champs Elysees, the Arc de Triomphe and other hallowed landmarks. But last week Elf-Aquitane, one of France's national oil companies, announced that it had recovered an encouraging 27 bbl. of oil from a 6,500-ft.-deep well about four miles from the heart of Paris...
...crude, ungrammatical, typewritten letter listed twelve people allegedly wronged by School Pictures, Inc., a minor holding in Hearin's diversified empire. The company develops and prints class photos, employing contractors to handle payments between the photographers and the main office...
...predilection for slow tempos is very much in evidence, yet occasionally he bolts precipitately, as in the final scene of Siegfried, when it is all that Polaski and Jerusalem can do to keep up. There is some piquant orchestral detail at times, but at others the texture is crude. Barenboim's challenge is to find a convincing, unified point of view...