Word: crude
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...stations. In 1974, in an attempt to overcome the unintended consequences of price controls, drivers in many places were permitted to buy gasoline only on odd or even days of the month, depending on the last digit of their license plate number. Moreover, with the controlled price of U.S. crude oil well below world prices, growth in domestic exploration slowed and production was curtailed--which, of course, only made things worse...
...hostility focused on land and water - southern Sudan has more water than the north, on the edges of the Sahara - today that has been reinforced by oil. The ICG says 70% of Sudan's oil reserves also lie in the south. Much of the 500,000 barrels of crude exported every day from Sudan is pumped from Abyei. The south, whose various leaders agitate either for independence or at least meaningful autonomy, complain they see little gain from the wealth under their soil. One Western diplomat estimates oil has earned the south $3.5 billion since 2005, a sum that could...
...worker calls in sick ($1,000 an hour in company revenue). Economic risk is as ever present as the physical danger, and--by pushing workers to go faster and harder--one feeds the other. The workers know precisely how much everything costs, not just the crab and the crude but also their family time, their rest, even their safety...
Facing record gas prices, President Bush reluctantly signed a bill to halt the deposit of 70,000 barrels of oil per day into the Strategic Petroleum Reserve, a two-month buffer of crude last tapped to offset disruptions caused by Hurricane Katrina. The amount of extra oil is relatively tiny--the world produces close to 75 million bbl. per day--meaning the move will have little impact on prices. Still, the measure sailed through Congress with overwhelming support...
Such pushback may have been an act of chivalry in the face of talk-radio furies and bloggers attacking, as one commenter did, "the bitter, anti-American, ungrateful, rude, crude, ghetto, angry Michelle Obama." But it also may signal that as attention turns to the general campaign, Michelle could be a liability as well as an asset. Her speeches can sound stark and stern compared with her husband's roof raisers. He's all about the promise; she's more about the problem. It's not just that she says times are hard and "we're not where we need...