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...meantime, though, the unnaturally low prices can cause plenty of havoc. Small U.S. oil companies have already shut down thousands of so-called stripper wells, which individually produce fewer than 10 bbl. a day but collectively supply the U.S. with about 15% of its total production of 9 million bbl. a day. If most of those wells close, the country could lose a sizable portion of its reserves. Says Allan Martini, a senior vice president at Chevron: "Once some old wells stop pumping, it's almost impossible to get them producing again. It isn't a question of turning...

Author: /time Magazine | Title: Cheap Oil! | 4/14/1986 | See Source »

While the yen's rise was causing havoc in Tokyo, it was good news for American exporters. Japanese consumers are already taking advantage of bargain prices on American wines, foods and sporting goods. But most U.S. economists agree that the dollar must decline further if U.S. companies are to become fully competitive with their Japanese rivals. "You ain't seen nothing yet," says Rimmer de Vries, the chief international economist for New York's Morgan Guaranty Trust. "Another 20% yen appreciation is absolutely necessary before the U.S. can start to work off its trade deficit with Japan." Some economists think...

Author: /time Magazine | Title: Land of the Rising Yen | 3/31/1986 | See Source »

...half of the play is remarkable only for the number of elements in it which can be accidently knocked over, a feature which the cast makes ample use of. Also, one of the entrances is so narrow that exiting performers must maneuver through it slowly and awkwardly, usually wreaking havoc in the process. Fortunately, the set for the second half is much better--and much less cluttered...

Author: By Jeffrey J. Wise, | Title: One Dark Night in Scotland | 3/14/1986 | See Source »

North of San Francisco, the Russian River rose to inundate the surrounding resorts and country houses as well as the tiny town of Guerneville. Said Guerneville Resident Mary Cervantes: "We've lost everything." Spreading out from California, the storms cut a haphazard trail of havoc. Mudslides that cut the main auto routes through the High Sierras stranded thousands of gamblers in Reno. In Utah rain deluged the low-lying areas and snows blanketed the mountains...

Author: /time Magazine | Title: We've Lost Everything | 3/3/1986 | See Source »

...others fear that Skocpol will wreak further havoc in an already embroiled department...

Author: By Jennifer L. Mnookin, | Title: Skocpol's Return Draws Mixed Response | 2/28/1986 | See Source »

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