Word: glutting
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...what? One obvious idea is for the Bureau of Conscienceless Glut to buy all the unsalable, hard-to-park gas guzzlers, and distribute them free to the rich...
...shortfall is held to no more than 7%. But even though some IEA nations, such as West Germany and Denmark, continue to rely on Iranian exports for as much as 10% of their petroleum supplies, sky-high prices and slumping demand for crude have already created a worldwide mini-glut of oil that would offset any loss. Because of surplus supplies, the price of oil in the so-called spot market has declined from $42 per bbl. early this year to around $33. Indeed, with storage tanks already filled to overflowing, the industrial nations could probably get by without Iranian...
...rare; in the U.S., only a few hundred patients have received it, most of them for short intervals. All testing so far has been designed to show whether interferon is active against different kinds of cancer, not whether it can effect lasting cures. But even if there were a glut of interferon, the drug would not be handed out indiscriminately; its long-range effects, good or bad, are still not known. Those getting IF are, in fact, human guinea pigs...
...fine pieces go to pot. "I absolutely refuse to melt down nice materials," says Jona than Hefferlin, the owner of Jonathons Coin in Los Angeles. From the daily glut, his wife picks out the valuable objects for resale. But at Manhattan's Empire Diamond & Gold Buying Service, where the queues form two hours before the store opens, almost everything goes to the smelter. Says Owner Jack Brod, who bought a Spanish-American War medal for its weight and paid only $75: "We might get more from a collector, but it's not worth looking for one or waiting...
Some surplus grain will continue to hang over markets and may weaken prices later. In fact, a glut had weakened prices before the embargo. Despite that block, Agriculture Secretary Bob Bergland expects U.S. grain exports to rise from 93 million tons in fiscal 1979 to 99 million tons this year. But if need be, the Government still has plans to buy as much as 14 million tons of the embargoed grain. Farmers are also being given more financial incentives to store grain, and the Administration is considering paying them not to plant...