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...Japanese tanker Shin Aitoku Maru looks like any other ship as it plies the Sea of Japan with a cargo of more than 11,000 bbl. of crude oil. But when the breeze comes up, a microcomputer unfurls a pair of rectangular canvas sails and aligns them to the wind. Stretched tight by rigid metal frames, the 40-ft. by 26-ft. sails resemble windmill paddles more than the billowing canvases of a windjammer. Yet the sails enable this 20th century clipper to move at speeds of up to twelve knots under wind power...

Author: /time Magazine | Title: Business: Riding the Wind | 10/20/1980 | See Source »

...squeeze grew tighter. There were reports from the Persian Gulf that the damage inflicted on Iraqi and Iranian oilfields during the current fighting would take months, and perhaps years, to repair. As a result, oil-importing countries are soon likely to see tightening oil markets and then higher crude prices...

Author: /time Magazine | Title: Business: Global Growth Is Hit Anew | 10/13/1980 | See Source »

...fact, prices have already begun inching up for such high-value petroleum products as diesel fuel, naphtha and heating oil. The increase is slower than the breakneck pace that characterized the pay-any-price panic of 1979, when the spot cost of crude oil shot up from $13 to $40 per bbl. In Rotterdam, hub of Europe's volatile crude-oil spot market, small cargoes last week were selling for anywhere from $4 to $5 per bbl. above the long-term average rate of approximately $32 per bbl. that the 13-nation OPEC cartel is now charging...

Author: /time Magazine | Title: Business: Global Growth Is Hit Anew | 10/13/1980 | See Source »

...different sort of Viking: the monster chez lui, a more conscientious and stolid fellow, the rude ancestor of the modern Volvo executive. He does not even have a horned helmet -a Wagnerian embellishment on the plain iron cap he actually wore in battle. He plows his acres; he makes crude wooden boxes with crude iron tools. His wife has a comb and looks like Bjorn Borg in drag. Living in a permanent crisis economy, he believes in bullion as a hedge against disaster. He cannot keep his gold in a sock (archaeology has not so far produced a Viking sock...

Author: /time Magazine | Title: Art: The Small Change of Archaeology | 10/13/1980 | See Source »

...first a lyrical, stunningly vivid skinny-dipping scene, in which sparkling water explodes around shiny male bodies, the others an intense basketball game and an intense bit of wood-cutting by an abandoned lover. Sound and editing point up the emotional undercurrents of these montages, and the effects are crude and somewhat heavy-handed. But they are exciting all the same: Sayles is enlarging his cinematic vocabulary, and one anticipates its refinement with pleasure...

Author: By David B. Edelstein, | Title: Progress Report | 10/8/1980 | See Source »

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