Word: crude
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...public expectations rose, and the government of President José López Portillo launched a bold expansionist program. To pay for imports, private and public corporations increased their borrowing abroad. The crunch came when the current worldwide recession, along with the oil glut, sent prices tumbling for Mexican crude. Meanwhile, high U.S. interest rates increased the carrying cost of the Mexican debt...
...English lords and ladies, showbiz aristocrats and crowned heads of industry. One passenger this summer was Actor Sidney Poitier, with his 30 pieces of luggage. On a trip from Venice to Paris, a group of 14 Arabs celebrated the birthday of a Saudi princess; the Dom Perignon gushed like crude...
...more optimistic than most of the islanders about where that future is going to lead. He enthusiastically outlines a new road system throughout the islands: incredibly, there is now a total of only some eight miles of roadway in the entire colony. There are proposals for expanding the crude wool industry to include knitting mills and building abattoirs for the Falklands' unutilized cattle and mutton (some 23,000 sheep carcasses are thrown away each year because of a lack of markets). Some islanders also hope to open up new grazing lands, market such island delicacies as upland geese...
...some degree, Exxon's profit problems are shared by the entire oil industry. The recession has dampened demand for crude and brought an end, at least temporarily, to sharp increases in petroleum prices. As a result, other major oil companies, including Mobil and Phillips, are streamlining their operations to cut costs...
...Exporting Countries remains powerful despite the excess oil supplies that depressed prices earlier in the year and the group's inability to set production quotas in Vienna two weeks ago. If the oil producers could find the political will to curtail output sharply, say the authors, a barrel of crude oil that now costs $34 could reach $72 by the year...