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...past five months the new President has tried to blend military orderliness with the freedoms of a democratic political system. So far, his resolve has withstood mounting economic pressures. Until 1980 Nigeria was flush with revenues from its oil industry, which at one time produced 2.3 million bbl. a day and yielded $23.4 billion a year in revenue. But the worldwide petroleum glut has left the country, which earns 95% of its foreign currency from oil exports, teetering on the edge of economic collapse. Last year Nigeria produced a daily average of 1.4 million bbl., earning $11.3 billion. Even...

Author: /time Magazine | Title: Nigeria Striking a Delicate Balance | 2/17/1986 | See Source »

...consumers, who can celebrate by turning up their thermostat a touch or taking a trip in their Winnebago. Falling energy costs are also invigorating the stock market, where the Dow Jones industrial average rose 41.06 points last week to close at a record 1570.99. But for the once flush U.S. petroleum industry, no gushers of champagne have flowed since 1981, when the value of oil peaked. And last month's 25% drop in crude prices is bringing even more failures and layoffs to the Energy Belt. Last week one of the largest offshore drilling companies, Houston's Global Marine...

Author: /time Magazine | Title: A Gusher of Gloom in the Oil Patch | 2/10/1986 | See Source »

...Mallory's basement apartment. The darkness is absolute. Not even the walls are visible, until the door to the kitchen is pushed open and the apartment is cast in a cold silver, late afternoon light admitted through a single kitchen window. Three chairs surround a formica $ table standing flush against a wall. The seats of the chairs are torn open, exposing a brown stuffing. Beside one of the kitchen chairs a gas pipe juts straight up three feet where an oven used to be. Mallory explains he has no use for an oven; the hot plate on the sink...

Author: /time Magazine | Title: A Christmas Story | 12/30/1985 | See Source »

...Justice relied on the common sense conspicuously absent in a field flush with refined ideas and elegant people. During the Vietnam War, Potter Stewart--who was certainly no liberal--attempted to get the Court to rule the draft unconstitutional without a declaration...

Author: By David S. Graham, | Title: Empty Bench -- Justice Stewart Remembered | 12/11/1985 | See Source »

While much of the literary world is flush with excitement over the possible discovery of a new poem by William Shakespeare, two Harvard experts interviewed this week questioned whether the Bard was actually the author...

Author: By Jeffrey P. Meier, | Title: Experts Question Poem's Author | 11/27/1985 | See Source »

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