Word: glutting
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Behind this considerable falloff are many purely economic considerations. The inviting sales opportunities in Europe's new Common Market attracted dollars that might otherwise have gone to Latin America. The U.S. recession had a dampening effect and the world oil glut contributed to a sharp cutback in exploration and a drop in income in the Venezuelan oilfields, the U.S.'s largest single Latin American investment...
...29th floor of Manhatten tan's RCA Building, he directs a worldwide organization consisting of 48 affiliates in 34 countries, 146,000 employees and 53 refineries on five continents- all of which provide 18% of the world's total oil consumption. Despite a worldwide oil glut, Jersey Standard managed to raise its earnings 6½% to $2.62 a share in 1960's first ten months...
...weapons-grade nuclear material," said Gore. "Once that is done, either as the product or byproduct of a nuclear plant, the nation has acquired a nuclear capability and can set off explosions." For the moment, plutonium is expensive and hard to make. But uranium is now a glut on world markets; with the expected development of a new, cheap German method of getting fissionable material by centrifuge (TIME, Oct. 24), the cost of a nuclear blast can be scaled down to the poor nation's level. Says Physicist Herman Kahn: "With the kind of technology that is likely...
With the oil industry in the midst of a major world oil glut, the new Mideast posted price cuts will probably not be the last. Actually, they are only about half the 30?-per-bbl. discount that Western oil companies have been offering some customers. Since oil royalties to Arab nations are paid on the posted price, companies that discount have been paying the usual royalties but receiving less for the oil they sell...
...basis of the new crop reports, the next Secretary of Agriculture would have to abandon Benson's assumption that lower federal price supports automatically lead to smaller crops and thereby get rid of gluts. When Congress let Benson test that assumption on corn last year-trimming the support price and abolishing the acreage controls-farmers expanded corn acreage by 15%. They harvested the biggest, most glutting corn crop in U.S. history. Farmers have again put just as much acreage into corn, and another corn glut is in pros pect...