Word: mum
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...Dear Mum: Recently TIME ran a note from "Dave" to his "Dad" in the Video section instead of Letters. The point of the letter seemed to be that we did not film The Thorn Birds [March 28] in Australia and that we did not do our research. Dave certainly...
...that poor, confused Dave; he even thinks we called you "Mom." Mum you are and Mum you always will...
Nonetheless, British Energy Minister Nigel Lawson met separately with the ministers from Venezuela and the United Arab Emirates. All three were mum about the talks. Some oilmen in Britain, however, believe the U.K. might reach a tacit understanding with OPEC to avoid a price war. Further price cuts could, after all, drain revenues from the sagging British economy. But any agreement to limit production would go against Thatcher's staunch free-market philosophy, and would also violate contracts that give private companies, including British Petroleum and Royal Dutch/Shell, the right to pump North Sea crude...
...meetings with nonmembers was that Mexico decided to postpone an announcement, scheduled for last Friday, of a drop in its oil prices. The implication was that Mexico would wait to see whether a broad agreement could be reached this week. Although the Saudis and their allies were mum, many experts believed the gulf producers had agreed in Riyadh to cut the official price to $30, too high to compete with Nigerian oil at the new price. But at week's end the British warned that they would make further reductions if OPEC sharply undercut the $30.50 North Sea price...
President Reagan is as mum about his intentions as is Volcker. Reagan says that he has not yet decided whether to ask Volcker to stay, and his advisers' private guesses about what he may do are mixed. Says one Treasury Department insider: "No President can resist the temptation to put his own man in a spot that powerful." But at least one top economic adviser to the President, impressed with the way Volcker has helped to bring down the inflation rate, hopes the Fed chairman will stay. Says he: "I think we would all benefit if he got another...