Word: gal
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...imported into the U.S. are pegged to the spot prices set by commodity traders at the New York Mercantile Exchange, where the cost of oil floats up and down according to global supply and demand. Though spot-market prices for gasoline rose 20 cents per gal. in the first few frantic trading days after the invasion, DiBona pointed out, the major oil companies boosted their wholesale prices by only 12 cents during that period...
...this view of supply and demand failed to win much sympathy among motorists. In response to Bush's call for moderation last week, the oil companies began softening their stance. Texaco, BP America and Conoco said they would roll back gasoline prices by 1 cents to 4 cents per gal. Unocal, Amoco and Getty announced that they would freeze prices at the pump for a week or more, depending on conditions in the world markets. So for the moment, at least, the runaway price hikes that followed the invasion of Kuwait have been stopped in their tracks. But that...
...planes against Iraqi brawn. The major role of American ground forces would be to protect air bases from Iraqi tanks. As long as infantrymen are in contact with base installations, they are assured of adequate water, fuel and munitions. In the desert a soldier normally consumes 6 gal. of water a day. For 50,000 men, that adds up to 2.1 million gal. a week. If ground troops were to storm off into the desert, the blistering temperatures and swirling sand would be as dangerous an enemy as the Iraqis...
TAXES. Americans pay too little for energy generally and for gasoline in particular. A 50 cents per gal. gasoline tax phased in over five years would encourage conservation and raise $50 billion in revenues. It would also help the environment by reducing CO2 emissions and other pollutants...
...Alberto Fujimori was running for President, he promised he would not try to revive Peru's disastrous economy with shock tactics. Last week Fujimori's two-week-old government unveiled an austerity plan that prompted protests and food riots. Overnight the price of gasoline jumped from 10 cents per gal. to more than $2, and food prices rose 300%. In Lima at least three people were killed by police and army troops, who were enforcing a state of emergency invoked two days before the measures were made public. The plan calls for taxes to be raised, import duties...