Word: marketization
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Dates: during 1990-1999
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...comes from an appropriately-named source: Opera. Until recently, Opera was just one of many "alternative" browsers. Like offerings from the NCSA and Spyglass, it was seen as an also-ran that couldn't handle the Web as well as the big boys could. Frequently, these off-market browsers could not properly handle the more complicated HTML pages found on major commercial Web sites...
What a change from a little more than a year ago, when many expected a tightening oil market to send prices soaring above the $25-per-bbl. level that oil then commanded. How sweet is it for motorists, then, to have enjoyed gasoline prices that, adjusted for inflation, are lower than at any time in memory--and lower than average prices during the Depression. Even the higher crude-oil prices of the past few days, should they hold, will add only 5[cents] to 10[cents] per gal.--still keeping retail gasoline prices near their historic lows...
What could generate such a turnabout in our petroleum fortunes? The industry has changed fundamentally since previous oil shocks that seemed to portend ever higher prices. Oil is coming into the market from every corner of the globe. Current exploration hot spots include the newly independent nations around the Caspian Sea and offshore West Africa. This diversification acts as an insurance policy against supply disruptions. The growing role of natural gas in the overall energy mix provides a further buffer. Information technology has also allowed the industry to search for oil and make a profit at $15 per bbl., about...
...exploration and production by foreign companies are reopening their doors. This hardly means the disappearance of politics and security issues--the Persian Gulf War demonstrates that--but these are not the day-to-day drivers anymore. So even though OPEC governments meet to ratify production cutbacks, it is the market that now has the power...
...Customers of the new company, dubbed Citigroup, will be able to shuffle money instantly between banking, money market, insurance and mutual fund accounts. And even get out a sawbuck for lunch...