Word: crude
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Center Screen's wise decision to show these films in this order is one reason the slogans sound natural and meaningful. Lilienthal's Uprising recreates the final bloody months of the 1979 revolution, and Sandino, a documentary, looks at the year that follows the victory. Despite crude acting and a liberal dash of sentiment, Lilienthal succeeds brilliantly in showing how this revolution--and more important how the brutal piggishness of American ally Anastasio Somoza--touched the life of the people. Little wonder that Nicaraguans who watched their neighbors, their sons, shot in the back for no good reason...
...obstacles facing Egypt may thwart good intentions and a tough executive. The economy will be badly hit because receipts from oil exports, which provided $2.5 billion in foreign currency last year, are tumbling along with the fall-off in world crude prices. Egypt is also beset by a ticking demographic time bomb...
Ever since Libya became the personal fiefdom and fortress of Colonel Muammar Gaddafi in 1969, it has been a treacherous place for Western oil companies to pump crude. In 1973 Gaddafi seized a 51% share of all U.S. oil operations in Libya and threw Texas Oilman Bunker Hunt out of the country altogether. But last week an oil company reversed roles and walked out on the colonel. Exxon announced that it was withdrawing all its oil and gas operations from Libya. The company will turn over to Gaddafi its 49% stake in oilfields capable of producing...
Exxon's action last week was made much easier by the current world glut of oil. The major petroleum companies are now well stocked with crude because consumption has been falling. Rather than causing a shortage of petroleum, the loss of Libyan production will just mean a little less for Exxon to put into storage tanks...
...corporations will be able to make investment decisions without worrying about runaway energy costs. Indeed, the real price of oil will probably drop over the next 14 months because of general inflation. Says New York Oil Analyst John Lichtblau: "Just to keep up with inflation this year, the marker crude would have to go to $36 per bbl." The long-range outlook for oil prices is more uncertain. If the world economy picks up in 1982, demand for oil would increase, and some individual OPEC members could decide to try pushing up the cost of crude once again...