Word: oiled
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Dates: during 1990-1999
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Here's what we learned in a week when oil prices hit a 10-year low and the stock market broke five records in five days and a woman accused the President of an unwelcome sexual advance: Americans complain that some of the biggest problems facing the country are crime, politicians and the lack of moral values. And yet the most popular leader in the country is a politician who half of us believe, according to a new TIME/CNN poll, "lacks the proper moral character to be President." We'll tolerate extraordinary flaws in a successful President and leave almost...
...ingenuity applied to example; homegrown know-how. Fikad's brother saw a wood-cutting machine in an English magazine and forged one out of scrap metal. Down in the artisans' suq in Asmara, men in blue overalls don masks cut from cardboard to weld new pots from old oil tins and cooking braziers from rusted rods. The clang, hammer, sizzle of makeshift industry are everywhere as boys flatten old iron bars for their brothers to beat into new shovels...
...distinct slowdown in corporate profits--especially among companies that had been exporting $300 billion or more a year to the Asian region. On the other hand, sagging demand from Asia is contributing to a worldwide deflation (a term rarely heard since the 1930s) in commodity prices, especially oil. And that is helping to douse what little inflationary fire may be left in the U.S. economy...
...With oil prices in the doldrums and a 2 million-barrel glut in the supply, producers are forced to suppress their instinct to make up the revenue shortfall by pumping a few extra barrels -- production cuts are the only way to restore the good times...
...Overproduction and falling demand caused by the Asian economic crisis and the unusually mild winter has sent oil prices plummeting, while cheating has bedeviled OPEC?s attempts to reverse the trend by cutting production. ?Venezuela has been notorious for cheating,? says Baumohl. ?Although in the new agreement they?re going to cut back production by 200,000 barrels a day, they were, in fact, producing 700,000 barrels more than their OPEC quota allowed,? says Baumohl...