Word: oiled
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Dates: during 1990-1999
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Fear of Falling Oil Prices...
WASHINGTON -- France and other U.S. Gulf War allies are eager to win contracts to help rebuild Iraq and want the U.N. to lift sanctions against Baghdad so it can resume exporting oil. But PRESIDENT CLINTON opposes the move -- and not just because Iraq remains a threat. If Iraq starts exporting oil, Administration energy experts warn, the price for crude could fall by nearly half, to $11 per bbl. That would spell trouble for volatile and financially strapped oil exporters such as Russia and Saudi Arabia -- and for 60 oil-patch lawmakers, who begged Clinton for new tax breaks...
...count on. No longer. Their confidence has ebbed since the emergence of Republican challenger Michael Huffington and his $75 million personal fortune. Huffington, a freshman Congressman from Santa Barbara, California, waltzed easily last week to a primary victory over his Republican challengers. Money has been a prime factor. The oil tycoon has so far spent $6.6 million of his own cash on TV advertising and other promotion, most of it attacking Feinstein as a political hack. As a result, "the race is up for grabs," says Mark DiCamillo, director of the Field Poll, a nonpartisan California survey. By the time...
Governorships, which used to go for a mere million or so, also appear to have appreciated in value. Colorado's oil magnate Bruce Benson, the favored Republican nominee for the statehouse, anticipates a possible $6 million general campaign. Benson has a nest egg of $50 million to $100 million to draw from, but he hopes to rely mostly on donated money...
Another theory is that being Governor just wasn't much fun anymore. During his first two terms, from 1972 to 1980, Edwards was able to duplicate a populist strategy of his fabled predecessor Huey Long: tax the thriving oil and gas companies to fund generous patronage and state programs, much of it to the benefit of his coalition of poorer whites, French-speaking Cajuns and blacks. When oil prices took a dive in the mid-'80s, the good times stopped rolling. Edwards "was a sort of perpetual Santa Claus," says Ed Renwick, a professor of political science at Loyola University...