Word: glut
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...producing countries, a spring flood of crude can be devastating. The last one, in 1986, sent prices plunging below $10 a bbl. This year another glut is surging forth, depressing prices of Persian Gulf crude from $18 a bbl. in December to about $13 currently. The causes: a warm winter in Europe and an increase in production among non-OPEC countries, ranging from Angola to Yemen...
...even those maverick producers seem ready to consider tightening their spigots. Last week in London, petroleum experts from non-OPEC countries met in an emergency session to discuss ways to mop up the glut. But OPEC is unlikely to follow suit. Saudi Arabia's Hisham Nazer and other oil ministers seem hesitant to discuss cutbacks, since some OPEC members flout existing quotas...
...hints of a slowdown could be found among last week's statistics. Most ominous was the rapid growth of stockpiled products held by manufacturers, wholesalers and retailers. The glut of goods was the result, in part, of a slowdown in consumer spending...
...policy, sometimes for political gain but often as an end in itself. Many people consider it morally wrong not to give food to poorer countries when the West has so much of it, especially in this year of near record U.S. farm output and a growing West European food glut. "If there is any politics in what we are doing," says Frederick Machmer, U.S. AID chief in Addis Ababa, "it is the fact that the U.S. public would be very angry if we didn't give food aid to the Ethiopians." To Brother Gus, an Irish missionary who works...
Among the most advanced -- and costly -- toys available for Christmas are the newest video games. Though a glut of games flattened the market two years ago, Japan's Nintendo has revived the market with souped-up graphics and sound that have lured players back to their screens. Nintendo's deluxe set ($139) includes a control deck that plugs into a television, two hand-held push- button devices, a ten-inch robot that reacts to commands through photosensors behind its eyes and a light-sensing video gun. As the battle rages, players can fire not only at the screen...