Word: gluttingly
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...readibility occur when Kearns haphazardly crowds the book with prevalent theories of political science. Machiavelli and de Tocqueville, those great legitimators of political science, are invoked and footnoted indiscriminately. Government professor Richard Neustadt's conjectures about presidential power, especially his discovery of the president's power to persuade, glut the book (the manuscript is dedicated to him). And in one oddly placed threepage section we get an introductory American government syllabus including statements on the growth of the imperial presidency, reduced prestige of the cabinet, decline of political parties, weakening of congressional leadership, and nosediving voter turnout. The jargon...
...Global Glut. But the swap raises significant problems for the American companies. The oil would go not to the defense contractors but to a refiner for processing and sale. The refiner must be willing to 1) accept the crude, and 2) set a firm price for it with the U.S. aircraft manufacturers. Finding such a customer will be difficult; there is a global glut of oil, and even tiny fluctuations in price can cut sharply into refinery profits. But the task is not impossible. Several independent oil companies that have lost access to Canadian oil since Canada cut exports...
...plan, developed by County Supervisor Baxter Ward, is unusual for its proposed financing. Initially, a series of massive bond offerings was contemplated, but state officials advised that the sale would glut the market. The plan now calls for a penny increase in the local sales tax, increasing the rate in Los Angeles to 7? on the dollar. That is expected to raise $289 million the first year and $300 million in each succeeding year. In an authoritative voice former Television Newscaster Ward says: "Nobody else is going to pay for mass transit. If we wait for the Federal Government...
...flight has drawn even more attention to the woes of the state corporations. Just a few weeks ago, for example, Finsider, a state group of 24 steel-producing companies, came under fire for continuing to roll out steel all last year despite a global glut. The reason was to keep employment high, but the result was staggering losses that no private company could afford...
...assumption is that the OPEC cartel will maintain high prices for oil (currently $11.56 per bbl.). Main reason: Saudi Arabia, Libya and Kuwait are cutting production rather than risk the falling prices that would accompany a global oil glut. Though the FEA study considers the theoretical impact of oil prices of $8 and $16 per bbl., it concentrates on the effects of an average price of $13 per bbl. At that level, no alternative sources of energy, not even such highly touted synthetic fuels as shale oil and liquefied coal, can compete with oil, at least...