Word: gluttingly
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Here's the problem. On the one hand, the glut of celebrities in politics makes it unfair for competitors. Little Joe Kennedy is going to wipe out some very worthy opposition in the race for Tip O'Neill's seat. As was once said of Uncle Ted, if his name had been Edward Moore instead of Edward Moore Kennedy, he'd be at the back of the pack...
...government has found many ways to spend money. To ensure ample supplies < of grain, Riyadh has paid growers six times the world price for their output. But since the kingdom consumes only about half the nearly 2 million tons that farmers produce annually, Saudi Arabia has a grain glut. Efforts to raise livestock have been troubled. The Saudi Arabian Agriculture and Dairy Co., which opened in 1980, managed to breed 15,000 cows over the following five years. But the $100 million total cost was so great that the firm had to refinance its debts...
Shultz made the statement at a Washington lunch for Israel's Peres, whose warnings of increased instability in the Middle East are taken seriously in the capital. On the one hand, Israeli officials say their country has been strengthened diplomatically by the oil glut. The declining petropower of the Arab countries has emboldened many Third World oil-using nations to renew contacts with Israel broken off during the 1974 oil crisis. But closer to home, some Israeli officials see increased potential for an attack by Syria, which has fallen on hard times partly because beleaguered Iran...
...Marshall Plan," Peres suggests that the major beneficiaries of the oil glut should ante up $20 billion to $30 billion for a fund to spur development in Egypt, Jordan, Lebanon, Syria and Israel. The proposal, even if not considered utopian, would face many obstacles, including the U.S. need to cut its budget and the reluctance of Arab countries, which have so far refused to join a program initiated by Israel...
...many U.S. wells cost $12 or more per bbl. to operate because much of the easily accessible crude has already been tapped. Some oil analysts believe that one goal of the Saudi price-war strategy is to bankrupt many of these high-cost producers, wipe out the glut and then boost prices once again when the competition is gone. Most forecasters think that oil prices below $10 per bbl. are a distortion caused by OPEC's overproduction and cannot last for long...