Word: crude
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...most startling and significant example of this change in underlying trends is the price of oil. Nothing did more to propel inflation ever higher during the 1970s than the success of the Organization of Petroleum Exporting Countries in raising the benchmark price of a barrel of crude from $1.80 in 1970 to $34 now. Besides the skyrocketing increases in retail prices of gasoline, the spiral helped drive up everything from apartment rents, which are affected by fuel costs, to the price of food, which is hauled to supermarkets in diesel-burning trucks...
...case for a federal energy tax is many-sided and obvious. As demand for petroleum has softened, drilling activity has begun to slow. At the same time, the drooping price of crude has reduced the lure of costly alternative energy projects like coal gasification and shale-oil mining...
...foreign oil. Increasing retail gasoline prices would surely help to hold down consumption of automotive fuel, but since gasoline is an important component in the Consumer Price Index, the tax would also translate directly into more inflation. Worse, the levy would do little to boost production of domestic crude oil and have no effect at all on discouraging foreign imports...
Armed with his Montaigne and Johnson and Machiavelli, Wills criticizes, on both moral and pragmatic grounds, what he sees as the Kennedy's crude and immature conception of power. If only he did not seem to enjoy disemboweling John Kennedy so much. Wills eloquent eulogy to Martin Luther King (and King's rival conception of power) would seem more in character; so would his ongoing vindication of Ted Kennedy. The Teddy question accounts for some of the book's weakest moments, with Wills at times making himself the judge in a brother-to-brother competition for the Character Award...
...worked, and manners were exquisite and marriages endured, and wars were just, and honor mattered, and you could buy a decent tomato. The lament for vanished standards is an old art form: besieged gentility cringes, indignant and vulnerable, full of memories, before a present that behaves like Stanley Kowalski: crude, loud, upstart and stupid as a fist...