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...difficult and time-consuming task, Kuwait's 94.5 billion-bbl. oil reserves will hardly be dented. Depending on how much damage has been done to other facilities, production could resume within six months after the end of hostilities, Kuwaiti officials say -- though it may be years before output reaches prewar levels. "They will not lose enough to threaten their reserves or their economy or the world oil market in the long term," said an American oil expert...

Author: /time Magazine | Title: What Is Left of Kuwait? | 3/4/1991 | See Source »

...nearly a decade. The supply has built up because of slumping demand in the U.S. and other countries mired in recession, along with furious pumping by energy-rich nations to make up for the boycott of oil from Iraq and Kuwait. % Even without the two countries' combined daily output of 4.3 million bbl., the rest of the Organization of Petroleum Exporting Countries managed to produce at the rate of nearly 23.9 million bbl. a day last month, in contrast to 23.6 million in July...

Author: /time Magazine | Title: Petroleum Markets: Crude in Full Retreat | 1/28/1991 | See Source »

...subject to market forces as never before and people would be empowered to make their own individual choices (using school vouchers, for example), while government would be decentralized and decision making pushed down as close as possible to the level of the people affected. Programs would be judged by output rather than input -- by results rather than appropriations. The test of the New Paradigm is What Works. It universalizes John Kennedy's definition of politics as the art of the possible...

Author: /time Magazine | Title: Old Paradigm, New Paradigm | 1/14/1991 | See Source »

Just as the auto industry determines the basic health and output of a host of other industries (steel, plastics, rubber), the American entertainment business has become a driving force behind other key segments of the country's economy. As a result of this so-called multiplier effect, the products and profits of dozens of U.S. industries are umbilically tied to American entertainment: fast food, communications technology, sportswear, toys and games, sporting goods, advertising, travel, consumer electronics and so on. And the underlying strength of the American economy, many economists believe, has a lot to do with...

Author: /time Magazine | Title: The Leisure Empire | 12/24/1990 | See Source »

...much touted new auto in October. Last week GM's Saturn division said that trouble in fitting the car's doors and other exterior components, and in obtaining parts that meet strict quality standards, had limited production through Nov. 30 to 2,162 autos, one- third of the planned output. Saturn said it was correcting the problems, and expects to build 3,000 cars in December, still less than half the projected production rate...

Author: /time Magazine | Title: AUTOMOBILES: Desperately Seeking Saturn | 12/17/1990 | See Source »

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