Word: leveler
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Dates: during 1980-1989
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...such a move would force the administration to give up its pretense that Core courses promote different modes of intellectual inquiry that the department courses do not. This, not the acquisition of a body of facts, is the philosophy behind the Core. But who would actually say that upper-level classes cannot provide this exposure...
Many departmental offerings incorporate the same methods of learning that Core courses do. Professors may not spend half a lecture explaining their method of analysis in a higher-level class, but the concepts are there and are being applied--at least as much as in any Core class...
...million bbl. a day. Because worldwide demand for OPEC's crude amounts to only about 19 million bbl., the overflow has created a price-dampening glut. West Texas Intermediate, the benchmark U.S. crude, fell earlier this month to $12.60 per bbl., a drop of nearly $3 from its level in August and more than $7 from a year ago. The price edged upward last week, closing at $14.92 per bbl., reflecting expectations among oil traders that the glut may soon inspire OPEC to cut its production...
...does not, experts like Robert Chandross, chief economist at Lloyds Bank in Manhattan, warn that prices could drop below $10 per bbl. and remain at that level for the next six months. That would mean a repeat by next spring of the oil-market collapse of early 1986, when OPEC overproduction sent prices crashing to less than $10 per bbl. While cheap energy helps most Western economies by lowering inflation, petroleum at prices below $10 or $12 per bbl. is a painful prospect for such indebted oil producers as Algeria and Mexico and the weakened U.S. energy belt...
...conflict, Iraq desperately needed oil revenues to fuel its war machine. As a result, the country exceeded its OPEC production quota of 1.54 million bbl. a day. Now that the fighting has ended, Iraq will have enough pumping capacity to increase its production even more, from a current level of 2.7 million bbl. a day to about 3.5 million bbl. a day within the next 18 months. With 100 billion bbl. of reserves, Iraq ranks second only to Saudi Arabia among the world's producers. By contrast, Iran's heavily war-damaged oil facilities are currently unable to pump more...