Word: crude
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...country's petrochemical future contains several other question marks. The most troubling is crude oil supply. In 1985 the petrochemical industry will need approximately 330,000 bbl. per day of oil. Estimates of China's total reserves vary from a respectable 20 billion bbl. to a Saudi-like 100 billion bbl. or more. But much of this lies offshore, where production is still five to ten years away. More easily exploitable onshore fields are no longer yielding the once steady 10% production increases. Last year the increase...
...question now may be whether our constitutional system is still functional. The nation's problems are not hard to find. Often there are several sensible ways to approach them. But not much attention is paid to the hard, boring job of putting together political coalitions or using the crude devices at hand in order to get real results...
...uncertain leadership and his image as a malaprop-spouting bumbler. "The media have done a number on me," complained Clark. "I frankly wasn't paying too much attention to it." By the time the campaign began, the country was awash with Joe Clark jokes, many of them crude and unfair. (Which of those two fellows in Santa Claus suits is Joe Clark? Answer: The one handing out Easter eggs.) The jokes were only part of the problem. Far more serious were Clark's inexperience in economics and foreign policy, and a string of broken campaign commitments...
...fact, such an apocalyptic outcome seems to be highly unlikely, at least any time soon. But the oil price surge of 1979, which has sent the worldwide cost of crude leaping by more than 100%, to $30 per bbl., is placing unexpected new pressure on international banking and financial institutions...
...Saudi Arabia, to park their unspent petro-profits, which by now amount to over $90 billion. The security and peace of mind that comes from feeling that their money is safe in these banks have been crucial factors in encouraging oil sheiks to go on pumping and selling more crude than they really need to. This in turn has helped keep the global energy pinch from getting any worse than it already...