Word: crude
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Soon after the first long-distance pipelines were laid in the Northeast in the late 1870s and early 1880s, the first oil tankers were allowed to pass through the Suez Canal, and the modern shipping system was born. Today crude oil travels in tankers that can carry up to 4 million bbl. With daily world demand at about 85 million bbl., petroleum represents about a third of all international cargo. And even though the commodity is also measured in kiloliters (in Japan) and metric tons (in Russia), thanks to whiskey, the units are always converted to the 42-gal. barrel...
...some blacks who don't and we won't be talking about black and white anymore," she says. Still, geneticists point out that hereditary traits follow ancestral lines, not racial ones. And race in America, as it is socially defined, constitutes such broad categories that it is a crude - arguably useless - proxy for genetics...
Seme's suggested test may seem crude, but there's a precedent for it in the world of athletics. At the 1936 Berlin Olympics, in the very same stadium where Semenya won her world title, rumors swirled that 100-meter runners Stella Walsh (nicknamed "Stella the Fella") and her rival Helen Stephens were men. After Stephens took the gold metal, the Olympics committee performed a manual check on her external genitals - and concluded that she was, in fact, a woman. And prior to the 1966 European athletics championships, female competitors were made to walk in so-called nude parades...
First, you'll need money. How much? Let's say you want to trade one contract of crude oil on the New York Mercantile Exchange (NYMEX). Since you're not a member of the exchange, and no one will really trust your new oil venture, you're going to need to start with at least $10,000 in your margin account (similar to a brokerage account, but it lets you leverage your bets to the hilt) as collateral to comfortably trade one contract. That might sound like a lot for just one contract, but a single contract on NYMEX represents...
...This is particularly apposite in the case of China, a country with not only many possible futures, but (as it were) many pasts. There is a crude but commonly held thumbnail sketch of modern Chinese history that goes something like this: Two centuries ago, European powers tried to open a hermetic society to trade; they failed until the Opium Wars forced the issue; China then entered an era of foreign domination and internal chaos, which ended with the imposition of political stability by the Communist Party in 1949; in 1978, after another round of internal unrest, China chose to modernize...