Word: crude
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Moreover, Economist Eckstein warned that the current slowdown in petroleum prices is not going to last. This week the 13 members of the Organization of Petroleum Exporting Countries will meet in Algiers, and are likely to agree on yet another boost in the cost of crude. At present the average worldwide cost of oil is about $31 per bbl., but Eckstein projects that it will rise to $35 per bbl. by year's end and $42 per bbl. by the end of 1981. A rise of that magnitude, more than double the U.S.'s projected climb in consumer...
Taylor agreed both with the report's premise that "that type of reduction is necessary," and with its projection that without cutbacks in United States crude oil consumption there would be severe economic repercussions...
...just how vulnerable it is to the pricing whims of the 13-nation OPEC cartel. After a four-month calm, price-raise fever broke out anew among cartel members, as one nation after another began tacking $1 and $2 premiums to the cost of various grades of crude...
...synfuel legislation does nothing to ease the immediate OPEC squeeze, but its long-range effect will be important. Initially, Carter had called for a ten-year, $88 billion effort to construct a network of synfuel plants that could produce up to 2.5 million bbl. of crude oil per day out of coal, shale rock and tar sands. That would enable the nation to cut its projected consumption of imported oil about one-third by 1990. The House-Senate conferees accepted the ultimate goal of the program as set by the President but slowed the pace of spending. Instead...
...occult - interpretations on the behavior, variously bonkers and bloody, that his camera records with its customary elegance. Whether his stylistic mastery and rigorous intelligence will carry this film to commercial success with the bedrock audience for horror - a young crowd that likes its metaphysics murky and its menaces crude - is problematical. But it is impossible not to admire Kubrick for flouting conventional expectations of his horror film just as he did those of the sci-fi tale...