Word: glutting
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Pakistan-in spite of U.S. military aid-to channel 70% of its budget into defense, little is left for development programs. Floods heavily cut the supply of wheat and rice in the past two years. Cotton is one of Pakistan's major exports, but because of the world glut, sales are down 40%. For lack of foreign exchange to buy raw materials and spare parts, the nation's mills now operate at only 50% capacity...
...trouble with shipping is overexpansion coupled with a recession-and the glut of oil (see below). In 1957, tanker operators expanded their fleets by 5,500,000 deadweight tons, or 11%, to 49.6 million tons overall. But free-world oil production-and thus the need for tankers-will increase by 4% or less this year. Result: nearly 3,000,000 tons (6%) of the world's tanker fleet lie idle, and the total may mount to 4,000,000 tons by midsummer...
...Jennings, 59, retires after 37 years with the company. Nickerson, a New Englander who looks like Cinemactor Randolph Scott, came up fast. Graduating from Harvard in 1933, he joined Socony as a service-station attendant, moved up to become a director within 13 years. Despite the current domestic oil glut, he has spoken out strongly for continued imports on the ground that high-cost U.S. producers will be unable to match soaring future demand...
Cure for the Surplus. Meanwhile, the U.S. oil glut that prompted the import curbs is being cured. Oil imports were well under the quotas, and inventories of U.S. crude stocks were down to 279 million bbl. from 288 million last July, when import curbs were first applied. This was only 14 million bbl. more than companies reporting to the Texas Railroad Commission, a potent instrument of the domestic oil producers, recently set as desirable and normal operating stocks. During the next two months, Washington is expected to consider whether voluntary import quotas will be needed for the year beginning July...
Pulitzer Prizewinning Biographer Margaret Coit (John C. Calhoun) has entered the supply-and-demand cycle of Baruch books at the critical phase where supply becomes glut. The truth is that the wily old (87) speculator has cornered the market with Baruch: My Own Story (TIME, Aug. ig), which has a grip on the No. 1 nonfiction spot of national bestseller lists. The first half of Mr. Baruch (Book-of-the-Month Club choice for December) is a blurred carbon copy of Baruch's own book, concerned mainly with his South Carolina boyhood and his stock market coups. Biographer Coit...