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...Milo or grain sorghum harvests suffered a 30% to 50% loss. Arkansas dairy farmers reported milk production drops of about 20% because of the heat. And despite George Gershwin's famous song, this summertime the fish are not jumping. Jim Malone of Lonoke, Ark., said that 1.3 million gal. of water evaporated daily from his pond once the temperature hit 100°. He had to pay $5,000 to pump in fresh water to keep the catfish alive...

Author: /time Magazine | Title: Business: The Long Dry Summer | 8/4/1980 | See Source »

Even under the best of circumstances, 1980 was certain to be difficult. The recession has hurt both business and vacation travel, reducing the amount of passenger traffic by about 4% in June. Worse yet, fuel costs have skyrocketed, from 40? per gal. in early 1979 to 87? at present. The result: 30% of operating costs go simply to pay the fuel bill, vs. only 20% 18 months...

Author: /time Magazine | Title: Business: Fasten Your Seat Belts | 8/4/1980 | See Source »

...Reagan years, should they come to pass, will occur in a different world. The Eisenhower years were postwar boom-time; American power dominated the world then, and gasoline cost 30? per gal. But even then Americans were skittish, with a sense of things sliding out of their hands, of an un controllable future...

Author: /time Magazine | Title: Time Essay: Dreaming of the Eisenhower Years | 7/28/1980 | See Source »

...March serious rioting broke out in Sierra Leone's capital, Freetown, when the government announced a hike in gasoline prices from $2.50 to $3 per gal. The rioting was reminiscent of the savage protests that erupted in Morovia last year after Tolbert increased the price of rice. Stevens, a burly former union leader whose folksy style has earned him the nickname "the Pa," concedes that "we could get into trouble," when his government announces another boost in fuel prices, possibly this week...

Author: /time Magazine | Title: SIERRA LEONE: From Athens to an Ill-Run Sparta | 7/28/1980 | See Source »

...Years of Government exhortations to conserve precious gasoline by switching to public transit, doubling up in car pools and even simply not driving did little to reduce fuel consumption. But expensive gas is having a stunning impact. The average national price for unleaded gasoline this summer is $1.26 per gal, a 39? increase over last year. Total gas consumption fell 7% in the first 6½ months of this year, while imports of foreign oil declined a strong 13.6%. Oil-company reserves two weeks ago stood at an alltime high for the season. Energy experts say that gas should remain...

Author: /time Magazine | Title: Business: Gasoline Gauges Rest on Full | 7/28/1980 | See Source »

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