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Word: oils (lookup in dictionary) (lookup stats)
Dates: during 1980-1989
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Usage:

...types of telemarketing cons are being hatched overnight, sometimes abetted by front-page news that provides a convincing sales pitch. After the 1987 stock-market crash shook investor confidence in securities, con artists began pushing such alternatives as rare coins, gold, oil and gas leases, and diamonds. One Tulsa-based telemarketing company cleaned up by selling shares in a "secret process" for converting volcanic sand on Costa Rican beaches into gold. A swindler who had been convicted of selling shares in a nonexistent gold mine continued to solicit new investors from a pay phone in his Wyoming prison...

Author: /time Magazine | Title: Reach Out And Rob Someone | 4/3/1989 | See Source »

...really living with a false sense of security," warns George Mitchell, an independent Houston oilman. "We're heading for deep trouble." What provokes Mitchell's dire prediction is the shriveled condition of the U.S. oil-drilling industry, which he believes has made the country seriously vulnerable to a future energy emergency. "We're losing ground faster than we might have predicted even a few months ago," he says. Adds John Watson, another Houston oilman: "All the people have left, rigs have been dismantled, the financial industry has turned its back on oil and gas. It would take...

Author: /time Magazine | Title: Step on The Gas, Pay the Price | 4/3/1989 | See Source »

...everyone is quite so gloomy, but the current brisk run-up in oil prices serves as a reminder that the U.S. energy supply is increasingly under the influence of outside forces. During March commodities traders bid the price of oil above the $20-a-bbl. threshold for the first time in 17 months. Last week the futures price of West Texas Intermediate, the benchmark U.S. crude, reached $20.15 a bbl., up some 50% since last October. The rally largely reflects an unexpectedly successful campaign by members of the Organization of Petroleum Exporting Countries, along with several non-OPEC countries...

Author: /time Magazine | Title: Step on The Gas, Pay the Price | 4/3/1989 | See Source »

While the price of petroleum is still a long way from its $35-a-bbl. peak in 1981, the U.S. is sliding back to a level of dependence on foreign sources not seen since the oil-shock days of the 1970s. January petroleum imports averaged 8.1 million bbl. a day, up almost 21% from a year ago and surpassing domestic production (8 million bbl.) for the first time in more than a decade. The import surge has hampered efforts to shrink the U.S. trade deficit, and rising prices have aggravated inflationary pressure...

Author: /time Magazine | Title: Step on The Gas, Pay the Price | 4/3/1989 | See Source »

...long stretch of low oil prices during the 1980s has discouraged U.S. exploration and consumption. Only 740 drilling rigs were operating in the U.S. / last week, down from 943 a year ago and a far cry from the 4,500 functioning rigs in late 1981. Exxon's spending on domestic drilling dropped nearly two- thirds from 1985 to 1987, to $333 million. Oil experts estimate that prices will have to stabilize at no less than $25 a bbl. to encourage a drilling resurgence in the U.S. Many American oil companies have boosted their exploration overseas, where finding oil typically costs...

Author: /time Magazine | Title: Step on The Gas, Pay the Price | 4/3/1989 | See Source »

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