Word: mckie
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...cash, several members of the Organization of Petroleum Exporting Countries have been overshooting their production quotas and offering customers discounts off the cartel's $34-per-bbl. official price. "OPEC's quota and pricing system may be on the verge of breaking down," said Board Member James McKie, an economics professor and energy expert at the University of Texas. If that happens, McKie added, oil prices could fall to $20 per bbl. or below...
...most European governments have levied gasoline taxes of $1 per gal. or more, the U.S. has flinched at raising its federal 4?-per-gal. tax even slightly. "Conservation of gasoline in the U.S. should be pushed a bit faster and further than market prices alone have done," says James McKie, professor of economics at the University of Texas. He supports a federal gasoline tax of at least 10% of the price of a gallon...
Still another approach falls into the whimsical or even bizarre category, such as Judy Kensley McKie's glass-topped tables supported by attenuated, Giacometti-like mahogany dogs. McKie, 38, of Cambridgeport, Mass., sold one of her $3,600 doggy tables to Joan Mondale for the vice-presidential mansion in Washington, B.C. Alan Siegel, 43, of Lake Hill, N.Y., recently exhibited a bent poplar chair that looks, he suggests, like "a smiling bandit." Other well-known "fun" pieces include a table by Wendell Castle, 50, of Scottsville, N.Y., with a carved wood hat and briefcase...
...James McKie said that he was "very discouraged" by the prospect that Congress this year might be totally unable to agree on a budget. He added that Congress would find it was "addicted to a narcotic" if it simply decided it could not agree on a budget this year and thus continued spending on the basis of last year's budget...
...McKie and the other board members argued that Congress has little choice but to increase taxes significantly. The board did not suggest, however, that Reagan's program of income tax relief for individuals and businesses be completely dismantled. Those cuts are powerful incentives for Americans to work harder, save more and make the investments that are needed to bolster sagging U.S. productivity...