Word: crudely
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Dates: during 2000-2009
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...crude-oil prices soared to record levels in July, South Korea's flagship airline, Korean Air, established a nine-member fuel-management team charged with a single purpose: contain escalating fuel costs by wringing every last bit of mileage out of their aircraft. One idea the team floated during early brainstorming sessions was to ask crew members to lose 4.5 kilograms each, thus lightening in-flight loads. Another was to install rest rooms next to airport gates, using the power of suggestion to encourage passengers to shed a few grams by relieving themselves prior to boarding. Someone even proposed limiting...
...Because fuel now accounts for more than a quarter of operating costs, airlines are particularly vulnerable to rising oil prices. But with crude rising to more than $49 per barrel on Aug. 20?compared with an average of $20 per barrel over the past 15 years?few businesses in Asia are unaffected. Although there was a sigh of relief as the price fell back to about $43 last week, oil is still more expensive than it has been in the past 20 years?and the realization is sinking in that Asia may have to learn to live with higher energy...
...Indeed, when it comes to oil, Asia faces a peculiar conundrum?a kind of macroeconomic China Syndrome. Vigorous mainland growth is great for regional trade, but China's outsized appetite has also driven up global commodity prices, including for crude. China, which is expected to consume 6.3 million barrels of oil per day in 2004, surpassed Japan last year to become the world's second-biggest oil guzzler (trailing only the U.S.). China "is emerging as one of the most decisive factors" in global energy markets, according to a June report published by Cambridge Energy Research Associates, a U.S.-based...
...With luck, relief might be on the way. White, the Asia strategist for Merrill Lynch, expects crude to fall to about $35 per barrel, easing the pressure on regional economies. He sees Asia's GDP growth contracting from about 7% this year to just under 6% in 2005?still an eminently respectable performance. But in a world kept constantly on edge by terrorism, the threat of a price shock triggered by a spectacular attack on energy infrastructure or by further instability in the Middle East can't be dismissed. Says the foreign executive at the Guangdong power plant...
...higher crude-oil and gasoline prices weren't enough bad news for SUVs, the latest accident data out of Washington provide more reason to think carefully before buying one. According to the Department of Transportation, SUV occupants are nearly 11% more likely to die in a crash than are folks in passenger cars. But the government's recently released rollover test results for the 2004 model year show that SUVs vary widely in their tippiness, giving buyers more incentive to shop around. Such statistics may well accelerate the popularity of crossovers, the new breed of bulked-up station wagons flooding...