Word: output
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...promise to keep the U.S. as Mexico's No. 1 foreign customer (the U.S. now buys 85% of Mexico's oil exports). Schlesinger estimates that by 1985 Mexican wells will be able to match Iran's pre-crisis output of 6 million bbl. per day. The CIA is even more bullish. Its experts forecast that in ten years, Mexico could pump 10 million bbl. per day, which is slightly more than Saudi Arabia's current production. But López Portillo probably will not budge on Mexico's plans to increase production more slowly...
...Crimson's tremendous output of energy at the GBCs last week took its toll Saturday when an exhausted and depleted Harvard track team fell to Army...
...that should happen, the implications would be nearly disastrous. Productivity is the key both to raising living standards and to controlling inflation. If each worker produces more, then total output will grow rapidly and employers can raise wages without jacking up prices; the rise in output per employee will offset the higher costs. If productivity is flat, almost every dollar of wage gains is translated into price boosts. Over the decades, price rises have closely followed increases in employers' unit labor costs?that is, wage gains minus productivity...
...October, and for the last month virtually no crude at all has been pumped out of the ground. Last week, in fact, the U.S. faced the bizarre situation of having to rush an emergency shipment of 200,000 barrels of diesel fuel and gasoline to Iran because local refinery output is insufficient to meet domestic needs...
...Saudi Arabia has helped to make up for the loss of Iran's oil by boosting its own output nearly 30% to some 10.3 million bbl. a day, close to the maximum that it is presently possible to pump from the Saudi fields. Iraq, Nigeria and Kuwait have also increased production somewhat. Right now, total world production is off by about 2 million bbl. a day. That is roughly equal to about 4% of global petroleum consumption, or more than enough to supply all the daily needs of Britain or Canada...