Word: excessive
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Dates: during 2000-2009
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...Three years ago, Gaddafi opted to invest his excess oil revenues in a sovereign wealth fund called the Libyan Investment Authority, which has rocketed in value thanks to soaring oil prices on the world market. The fund has about $65 billion in capital, part of which Libya has used to build five-star resorts in African capitals and to run Afriqiyah Airways, which crisscrosses the Mediterranean to European cities...
...shocked that others saw it as being supporting evidence that Goldman Sachs had burned down the Reichstag, shot the Archduke Ferdinand and fired on Fort Sumter." Suddenly a firm that few Americans know or understand has become part of the zeitgeist, the symbol of irresponsible Wall Street excess, the recovery from which has pushed the nation's treasury to the brink. (See 25 people to blame for the financial crisis...
Cohan, a contributing editor at FORTUNE, is the author, most recently, of House of Cards: A Tale of Hubris and Wretched Excess on Wall Street...
...stable employment is being challenged by heavy losses the company has sustained over the past 15 months. It lost $7 billion during its last fiscal year, and more red ink is flowing this year. And the recession and the drop in auto sales in the U.S. saddled Toyota with excess capacity in the U.S., leaving it little choice but to cut production, says David Cole of the Center for Automotive Research in Ann Arbor, Mich. (Read "GM and Germany Still Wrangling Over Opel...
Take no comfort in that excess. Unlike crude, natural gas cannot be stored just anywhere we want; we also cannot transport it very easily. Gas is typically stored in underground reservoirs. The pressure of the gas and the type of reservoir can make injection and extraction cycles difficult and lengthy processes. Until traders see extra storage realized, the natural gas market will be priced in steep contango, meaning prices of natural gas for future delivery will hang far above the current price. The low prices now represent the abundance of unusable and potentially unstorable gas, a situation that will...