Word: crude
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Deep in the stillness of the forest a stand had been built about halfway up a tree, with a crude bench and an aperture for shooting. All was still. Only Brezhnev's voice could be heard, whispering hunting tales: of his courage when a boar once attacked his jeep; of the bison that stuffed itself with the bait laid out for other animals and then fell contentedly asleep on the steps of the hunting stand, trapping Soviet Defense Minister Marshal Rodion Malinovski in the tower above until a search party rescued...
OPEC finds that it is a crude, crude world...
Americans did not have to do it. The law of supply and demand was doing everything for them. A growing glut of world oil supplies was driving down the cost of crude and the price of gasoline. Robert O. Anderson, chairman of Atlantic Richfield, told a group of TIME editors last week: "The drop in the past two months is the largest drop in the history of oil prices. We really have a moment in the industry that is without parallel...
...inflation. Consumers no longer have to contend with ceaselessly skyrocketing costs for gasoline, which over the past year have leveled off at about $1.22 per gal. for leaded regular, or heating oil, which is now selling on average for about $1.23 per gal. on the East Coast. Moreover, lower crude prices hold down the cost of the thousands of consumer and industrial products made from plastics and other petrochemical products...
...other hand, the weakening market means that oilmen will be less willing to invest the millions, and sometimes even billions, of dollars needed to explore for new sources of crude. That, in turn, could lead to a renewed supply squeeze in two or three years. Energy Analyst Constantine Fliakos, of the Merrill Lynch investment brokerage firm, warns: "There is really no doubt that demand eventually will bounce back; the question is simply when...