Word: glutting
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...last week had ordered its semiconductor industry to reduce the output of some types of chips by 10% in the second quarter, which comes on top of a 10% cut in the previous period. Part of Japan's difficulty in preventing rampant discounting of its chips is a severe glut in the $31 billion worldwide market for semiconductors. Several Japanese trading companies buy surplus chips from manufacturers inside the country and then sell them at huge discounts in other Far Eastern countries, a practice that Tokyo claims it is trying to control. Said Hajime Tamura, head of MITI: "((Reagan...
...days of the "double nickel" -- as truckers call the widely scorned and narrowly enforced 55-m.p.h. speed limit -- appear to be numbered. First enacted in 1974 in response to the oil shortage, the 55-m.p.h. law was preserved long after the energy drought turned into a glut because the lower speed saves lives as well as fuel...
...moment the worldwide oil glut enables the American public to indulge its taste for imported energy without driving up prices. Excess capacity totals some 12 million bbl. a day, about 75% of which can be found in the Middle East. But the glut may vanish within five years, as growth in non- Communist economies soaks up the surplus. Says Daniel Yergin, president of Cambridge Energy Research Associates, a Massachusetts-based consulting firm: "We expect the world oil market to look radically different in the early 1990s...
...When the glut is gone, OPEC will be a formidable force again. Predicts Dallas Energy Consultant Ed Vetter: "Once the OPEC countries got us backed into a corner, they could raise their price with impunity and we would have no way to respond." A recent report by the National Petroleum Council, an industry group that advises the Department of Energy, asserts that by 1990 OPEC will be producing at 80% of its capacity, as compared with 66% today. Historically, whenever OPEC has reached the 80% threshold, it has succeeded in imposing -- and sustaining -- oil-price hikes. The report estimates that...
...half-registered over and over, full of slippages and visual stutters. Marilyn Monroe repeated 50 times, 200 Campbell's soup cans, a canvas filled edge to edge with effigies of Liz, Jackie, dollar bills or Elvis. Absurd though these pictures looked at first, Warhol's fixation on repetition and glut emerged as the most powerful statement ever made by an American artist on the subject of a consumer economy. The cranking out of designed objects of desire was so faithfully mirrored in Warhol's images and so approvingly mimicked in his sense of culture that no one, in fact, could...