Word: oiled
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Dates: during 1990-1999
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...China and Vietnam normalized relations. Their border was opened. Trade blossomed. Assistance flowed from Beijing. But last month Chinese warships sailed into the South China Sea to renew China's claim to the Spratly Islands, which Vietnam counts as its own. Ignoring Vietnam's complaints, China has sold oil and gas exploration rights in the area to a Denver firm. Meanwhile, Chinese troops have moved border markers deeper into Vietnam, and many Chinese visitors seem determined to stay. To Vietnam, what looked like detente is beginning to feel more and more like subservience...
...issue the new rules. More than 20 years after the government began requiring annual emissions tests for many cars, half of the smog and 90% of the carbon monoxide in the air still pours out of tail pipes; the rest comes mainly from the smokestacks of factories and oil refineries. The new regulations could reduce smog-producing emissions and carbon monoxide pollution from vehicles by 30% in many cities. But repairs to pass the test could cost drivers from $25 to $450, a stiff increase from the present average of $50 to $75. (Anyone whose car still can't make...
EXXON VALDEZ. The Alaska court of appeals overturned a misdemeanor conviction against Joseph Hazelwood, captain of the tanker that ran aground in Prince William Sound in 1989, causing the nation's worst oil spill. The court found that the state used tainted evidence against Hazelwood, but acknowledged that its decision was likely to be "a bitter pill for many Alaskans to swallow...
...from Mr. 7 1/2. Though Russia is not a G-7 member, President Boris Yeltsin joined his fellow heads of government, by invitation, in Munich and tossed out a novel idea for paring down his country's crushing $70 billion foreign debt. He would trade property -- land, factories, warehouses, oil and mining concessions -- to Western investors, government and private, that would in turn cancel Moscow's debts to them. The seven offered what German Chancellor Helmut Kohl called an extended breathing space. No details, but probably Russia can wangle a two-year moratorium during which it pays only interest...
...just keeps falling on the beleaguered American worker. In a new round of layoffs that underscored the weakness of the economy last week, three major oil companies announced painful business restructurings. Amoco said it will cut 8,500 jobs, or nearly 16% of its work force, as it abandons unproductive oil fields and writes off other assets. Unocal plans to eliminate 1,100 of its 17,000 jobs worldwide, mostly in the U.S. And Mobil said it is paring 2,000 salaried jobs, or 9.5% of that group. The energy giants joined such diverse blue-chip companies as Hughes Aircraft...