Word: iraq
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Dates: during 1990-1999
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They danced in the streets in Baghdad and broke out the high test in the U.S. last week when the United Nations agreed to let Iraq resume selling oil for the first time since its 1990 invasion of Kuwait. But oil prices promptly surged in futures trading, dashing hopes for quick relief from gasoline prices that have climbed nearly 20' per gal. in the U.S. since February...
...topsy-turvy response reflects the fact that Iraq won't begin exporting oil until July, when gas-guzzling American vacationers galore will be hitting the road. Nor will the 700,000 bbl. a day that Baghdad will be allowed to sell to raise hard currency for food and medicine amount to more than a 1% boost in worldwide oil production. Nonetheless, experts say Iraqi oil should help lower U.S. pump prices by midsummer. Daniel Yergin, president of Cambridge Energy Research Associates, estimates that gas prices could fall as much as 10' per gal. before the end of the driving season...
...Joint Chiefs of Staff, listened closely. "He was extremely attentive," recalled one lawmaker. Shalikashvili was aware that banning antipersonnel mines had become an important political issue, both in Congress and internationally. A former frontline soldier, he understood the value of mines, but his experience helping the Kurds in Iraq after the Gulf War had shown him how devastating they can be to civilians. As the presidential plane drew nearer to Bosnia, the general well knew that he might soon have to rethink America's land-mine policy...
This just-not-in-time shortfall has been accelerated by apparently overoptimistic expectations that negotiations between the U.N. and Iraq would shortly bring a return to the marketplace of Iraqi oil--700,000 bbl. a day--which would lower oil prices. That hasn't happened, so refiners are buying higher-priced crude and passing along their increased costs to drivers...
...billion "Trumpet" signal intercepting satellites, which spend most of their time parked over the former Soviet Union. Furthermore, satellites may simply not be that useful. A highly classified CIA study recently concluded that satellites provide less than 10% of the valuable signal intelligence collected from such rogue states as Iraq and Iran. Most such data are scooped up by ground stations or via phone taps...