Word: glut
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Pangs of Plenty. The biggest headache for farmers is the growing glut of wheat. Last week the Agriculture Department forecast that despite last winter's drought and destructive winds, this year's winter wheat crop would come to 1.53 billion bu., only about 3% less than last year's mammoth harvest. The total crop, including spring wheat (harvested in the fall), is expected to be about 2 billion bu. That would be slightly less than the record 2.15 billion bu. crop in 1976-but still more than U.S. and foreign buyers combined are likely...
...ceiling insulation, but much of the country's existing housing stock lacks proper protection. That may make it difficult for newhouse buyers to get rid of their old ones. Although it picked up last month, multifamily construction has been slack as the market continues to absorb a glut of new building of that type completed during the early 1970s...
...chart after chart in his book, he cites the sudden surge in the Seven Sisters' profits. Blair also charges that the big companies actually helped prop up the OPEC price by cutting back on production at times, most notably in the fall of 1975, when an oil glut was causing price weakness in Western Europe...
...successful cartel ever, seemingly able to disregard both world public opinion and market forces. Between late 1973 and 1975, OPEC quintupled global oil prices, helping cause the industrialized world's most severe recession since the 1930s, and managed to make its inflated prices stick even through a worldwide glut of petroleum. Officials in the U.S. and other oil-importing countries kept wishfully thinking that OPEC would somehow split apart, but their hopes were always foiled −until last week. Then, at a price-setting meeting in the tiny desert emirate of Qatar, the first fissure in OPEC...
...flicker of a TV set as the dial is clicked: rocket, eagle, Kennedy, dancer, oranges, box, all registered with the peacock-hued, aniline-sharp intensity of electronic color. The subject was glut...