Word: marketeers
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Dates: during 1970-1979
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...result if they continued indefinitely pumping out crude at recent rapid rates. Nigeria's claim may be partly justified, but Western oilmen charge that Algeria's alleged cutback is nothing more than a sleight of hand. Algeria is secretly selling the oil for top dollar to spot-market buyers. Reports a high oil company executive: "What appears to be a cutback is really just a diversion to the spot market. This is more than a suspicion; we are sure...
...spot market will probably get a further upward nudge from a separate Nigerian action, the abrupt nationalization last week of British Petroleum's exploration, marketing and production operations. The Lagos government declared that it was punishing BP for supplying oil to South Africa in violation of a Nigerian boycott, a charge that the company denies. The takeover deprives BP of an estimated 300,000 bbl. per day, but the Nigerian government is offering to sell the crude to any taker on the spot market, presumably including...
Wriston's argument overlooks that, rightly or wrongly, many Americans believe that the free market no longer is really free, that in fact it is manipulated not only by Government but also by large private corporations. Also, he ignores that in the battle against inflation, people seem quite willing to sacrifice at least some of their individual liberty. But the danger is that as inflation roars on, they may be willing to sacrifice so much more of it that the Republic could become a totally different kind of society. For Wriston is quite right when he argues that economic...
...same time, Bergland warned that under the 1977 farm law the federal support price will drop by 330, to $3.07 per bu., next year. That decrease will be more than offset by market forces. Because of the Soviet purchases, U.S. farmers stand to sell more grain than ever at prices somewhat higher than the present $4.22 per bu. for wheat and $2.77 for corn...
...later Califano's departure came as too much of a surprise to much of Washington. "Had the story got East Coast play," says Times Washington Bureau Chief Jack Nelson, "it would undoubtedly have had more impact." Chandler's growing presence in the Greater New York area newspaper market (small dailies in suburban Stamford and Greenwich, as well as Newsday and, now, the Courant) is his way of breaking into the New York-Washington news axis. Chandler says it is merely good business. Yet during the past year he has taken out full-page ads in the New York...